What is your experience with thetradescalper.com approach? | Trading Reviews and Vendors


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What is your experience with thetradescalper.com approach?

  #10 (permalink)

Elite Member
Berlin, Europe
 
Futures Experience: Advanced
Platform: NinjaTrader, MultiCharts
Broker/Data: Interactive Brokers
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For this you need 73% profitable trades


This is the setup:

He just uses a 1 min chart without indicators. After an expansion bar he waits for price to retrace a little further than the midline of that expansion bar. Then he enters in the direction of the prior trend. This is a with-trend setup. It assumes that the retracement was triggered by profit taking and that the original trend will resume. I do not know if any additional filters are used.

For ES the target is 3 ticks, the stop loss is 6 ticks. So your profit would be 3 ticks minus transaction cost (USD 4.00 per round turn) , the loss 6 ticks plus transaction cost.

Profit per contract and trade : USD 33.50
Loss per contract and trade : USD 91.50 (including 1 tick slippage)

So you would need a success rate of 73% just to break-even. No errors allowed.

I do not think that this is a special opportunity and I would not pay for that advice, but try to develop a setup myself.

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