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Boomerang indicator system at

  #80 (permalink)

Philadelphia, Pa
Trading Experience: Advanced
Platform: Sierra Charts
Broker/Data: Amp/CQG
Favorite Futures: CL, ES
longboat's Avatar
Posts: 142 since Jun 2009
Thanks: 895 given, 202 received

Boom Boom

I own Boomerang and I will give you some of my thoughts. First let me say that I have nothing to do with Mohan or the indicator sales company that sells it.
I used it in sim for a week or two after I purchased it months ago and I quit using it. There were way too many trades and I got cut to pieces in the chop days. A month or two later Mohan brought out an add on for Boomerang called the Trade Bias Selector (for another fee). It looked like it might help with the signals and I decided to buy it a few weeks ago. It wasn't that much money. What a huge help. It really filtered out the signals until there really averaged about 3-4 in the morning session. Huge improvement. I am still testing it. I was in sim this week and I can say it was profitable every day and nicely so. I know not a very long test but back tests looked good too. I am going to trade real money next week probably.
Let me add some other thoughts here. I am not going to give away any of the copyright stuff or rules or anything like that. I have spent thousands and thousands of dollars on indicators, software and trading rooms and I can say that for the amount of money I spent on Boomerang it is the best software values I have found for the money. God knows I have wasted much more money on other totally bogus software scams.
It is not what a lot of you may think it is and it is not my main trading software that I use right now, but we'll see. It is not meant to be traded all day and it was made for the ES Some people have claimed it works on others but that is not what it is for). He says to quit trading it when you get 4 pts and I think this is good advice.
There is not very good money management directions in the manual and you are kind of left on your own with that. He just says he doesn't believe in constantly moving your stops, but do you go break even at 2.0? Do you close it if you get an opposite color arrow? A different color bar? These questions are not spelled out. It is very simplistic which is refreshing though.
I doubt this would ever work as an auto trading system and I was not aware that they tried to set one up. There is some discretion in choosing trades to exclude around news events and trades too late in the trend.
You guys can ask me generic questions about it and I will try to answer them. Is it the Holy grail? No. Is it a good indicator package? I really do think so, but I will keep you up to date with my tests. It kicks butt in trending markets, but doesn't everything?

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