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Blue wave trading review

  #58 (permalink)

Fort McMurray, AB Canada
 
Trading Experience: Beginner
Platform: NT, MT4, Jigsaw
Broker/Data: Continuum
Favorite Futures: ZB, ZN
 
spideysteve's Avatar
 
Posts: 116 since Mar 2015
Thanks: 223 given, 117 received

Iíve been watching his YT videos off and on for about 6 months now. Lately heís had a customer his named Jim who has been doing some videos, showing profits and losses. On June 12, Jim made $600 on a funded account and lost $300 on his own account. Jim trades NQ exclusively.

Iíve also talked to Randy on the phone. Some take aways Iíve gotten watching dozens of these YT videos and the phone conversation I had with Randy regarding his autotrader: (in no particular order)

Randy shows good days. He rarely shows losses. He does tend to cherry pick the days he shows. I asked him about this and he said yes, thatís correct as he uses his YT videos as a marketing tool. I told him that I personally thought that was disingenuous at best and dishonest at worst. I also said that if he wanted to be transparent, he would show all his trades, not just the winners. His response was that Iím welcome to my opinion and thanks for my feedback, but he has no intentions to change his method of marketing.

Jim has been showing losing days as well as winning days. The transparency he has shown was a welcome change.

Randy does trade his own account, however, he very rarely shows this. I have seen trades on his own account only once, which was on ES. It was profitable for him.

The trades Randy shows are on live SIM, so the fills should be fairly close to a live account.

He uses about 20 different templates across the different instruments he trades. Iíve seen ES, NQ, CL, ZB, GC, FDAX, YM (although YM seems to be rare). However, he is not suggesting that someone try to duplicate this, he is intending to show that his autotrader can be used with different instruments, implementing different strategies.

He provides all templates to use and will set up the autotrader software via Skype or teamviewer. However, he does say that you as the user should tweak it for your own risk and MM style.

He suggests that a user should only use 1 chart template on 1 instrument to start with and get familiar and comfortable with how the autotrader works.

Posters here talk about the supertrend indicator that is used, but it doesnít appear like that is the only strategy used by Randy. There are several others which I have seen in use.

Note that I have no association with Randy, BWT or Jim who has been doing the live videos. Iím only writing my observations as Iíve been interested in finding an auto trading method for my own strategies and found the BWT site and videos by searching. Of course, being a member here helps as a way to get multiple opinions and experiences as well.

If I think of anything else, I will add to this thread later.

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