Anyone looked at eminischool.com? | Trading Reviews and Vendors


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Anyone looked at eminischool.com?

  #12 (permalink)

Elite Member
Springfield,Missouri, USA
 
Futures Experience: Advanced
Platform: NinjaTrader (It's a love/hate relationship)
Favorite Futures: CL, TF, 6E
 
Slipknot511's Avatar
 
Posts: 176 since May 2010
Thanks: 60 given, 312 received

One thing I have noticed from viewing many of their videos is that he makes extensive use of price action, price patterns, fibonacci, dow theory, multiple timeframe analysis and even $TRIN amongst other things. While it is a really solid approach, I think the website misrepresents it as being much more simple than that. It may come off to inexperienced traders as "just buy when the indicator tells you". In reality, the indicator is a very small portion of the overall approach, & is probably the only part of it that is not discretionary. Confirmation is a huge component of this approach. He repeatedly reinforces that fact that you are going to miss many moves and that is the price to pay for confirmation.

Realize that the videos and examples are cherry-picked to show where the indicators worked perfectly. There are no perfect indicators that will always work. I will say that he has some good advice about which markets to trade. (Hint: It's not ES). I don't trade ES either. I've learned that for experienced countertrend scalpers, ES may be a good vehicle. But for most of us mere mortals (aka we're NOT Al Brooks), trading with the trend on a different instrument is much wiser.

I actually gleaned a few small tidbits from his free videos that improved my trading, so I feel they are worth watching. Is the whole package worth nearly $3k ?... not for me. You can get all this stuff (except for the indicators) free on the web. You can probably find it all on futures.io (formerly BMT). There are plenty of other indicators that can keep you on the right side of the market. His simply combine a trend indicator with an oscillator into one paintbar study. The trend component keeps you on the right side and is used for entry after a pullback. The oscillator component highlights overbought/oversold conditions for exhaustion. With just a little experience, you don't need this indicator to tell you these things. You can use one of the many good paintbar indicators provided on futures.io (formerly BMT). Coupled with any oscillator to look for trend exhaustion, you got yourself a good framework to work within. If time is more precious than money to you, then it may be a worthwhile investment.

I think this could be a very successful approach coupled with the right personality (true for any system/approach). Anyone looking at the site needs to keep in mind that while it may seem very simple at a glance, like any system that will actually make money, the overall method will require a lot of hard work and screen time to be successful.

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