Any followers of Ray Freeman / Samurai Trader out there? | Traders Hideout - futures trading strategies, market news, trading charts and platforms

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Any followers of Ray Freeman / Samurai Trader out there?

  #6 (permalink)

Lake Michigan (Summer), N. Miami Beach (Winter)
Trading Experience: Advanced
Platform: TOS, Ninjatrader
Broker/Data: Tradeovate, TOS, Dorman
Favorite Futures: indices/currencies/interest rates/energies/metals/grains
Posts: 422 since Oct 2009
Thanks: 237 given, 730 received

I buy lots of methods (hobby) that aren't too expensive and enjoy trying to figure out a way to

a) make them nearly 100% rule-based

b) get them to an acceptable profit factor.

This is done in my spare time. For my primary intraday trading I use methods that employ two timeframes and trade in that direction (trend breakout pullbacks and with trend pullbacks) from 9:30am to around 1pm est.

With regard to Ray's 'method' - even taking my reward:risk down to 2:1 net net on a bunch of his entries and trying various stop win/stop loss session parameters and looking at his easiest 2-4 types of entries...

Alas - it was a wash personally for me. Also, his timeframes are ridiculously fast and he's a paper trader who makes videos that show really favorable price action. When the price action is not quite as favorable he'll highlight his 'mean reversion' entry techniques.

When the market is trending hard and smooth - he'll show his trend and trend pullback entries.

The guy is really sleazy. I bought his program for like $79.00 - less than the cost of a night's dinner at a decent restaurant for two. So I don't really care what a scammer he really is for less than a c-note.

If you really want to put in some spare time on his program I would suggest concentrating on 2-3 entry techniques. Build your own trade management/targets and rule-based parameters.

I also suggest looking at data that is the same time period each day - a consistent start and end time.

If you just look at random times of day your brain will start to look at opportunities that you'll be most likely curve fitting or you'll just gravitate to a random starting time when your eyes see the 1st winning trade or chunks of price action when price began moving smoothly for whatever your type of trade setups are.

Finally, if someone really wants to take apart this method I would suggest using LONGER timeframes and conservative entries w/tight trade management and at least a 2 to 1 net net reward:risk and perhaps look at two markets at once and be very very picky about your 'rule-based' entries.

Even with that written - I believe all of his types of setups show no real long term edge due to the 'subjectivity' of them.

Using two time frames may be a helpful filter.

Good luck and good trading.

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