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Anyone heard of SpreadProfessor?

  #4 (permalink)

Elite Member
Mumbai, India
 
Futures Experience: Intermediate
Platform: MT4, NT7,eSignal
Broker/Data: AMP/CQG
Favorite Futures: Index,currencies
 
indiantrader's Avatar
 
Posts: 105 since Jul 2010
Thanks: 314 given, 135 received

I have finished Peter Hamby's 6 months spread trading course this year.
Peter was a floor trader and a prop trader specialising in energy spreads and tresuries and he trades futures spreads exclusively.
My impression about this course is here.

Pros:

1. One learns about basic spreads, pairs, butterfly, condors and inter-market spreads and its charting using eSignal...every week there is a group webinar where there is a discussion about new trades and its validity...
2. For correlation studies, he refers to csidata website which is quite useful and any instruments can be analysed for past 20 years of correlation data
3. The method of trading is based on price action, range of spread and a simple indicator which is easy to follow with all in- all out trade management
4. The spreads relevant to swing trading are those which do not follow the underlying and the spread chart has to look like a separate instrument...which is important to understand

Cons:

1. The cointegration studies, lead-lag analysis are not taught in the course but just a rough idea about them
2. The mean reversion is not accepted at all but its still relevent when cointegration is high between the pairs....
3. The fundamentals like yield curve, bond valuation, energy basics are not taken into account at all...I feel they are very important like FOMC meet which affects eurodollar pairs....or middle eastern shocks which affect crude oil spreads
4. Only futures pairs are included on CME, Eurex and Liffe...the equities pairs, ETF vs stocks pairs are not included however some clients do spread equity pairs....(problem with equity pairs is there is no benefit of margin credit)
5. Only weekly and daily charts are referred to and no intraday spread trading methods are included...the reason being the indicator used acts on daily and weekly charts better....so drawdowns with those charts are huge before spread moves in desired direction...so if one wants to trade intraday spreads, he has to find his own methods...according to Peter intraday spread trading is worthless..
6. and lastly $7500 is definitely high for the course compared to the knowledge one gains through it...either the price should be low or he should include more techniques and more instruments like equity spreads to make it worthwhile

Having said this, I am ready to trade spreads in my live account and currently choosing between X-trader and T4 platforms for spreads.

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