Has anyone ever heard of eminisniper.com? | Trading Reviews and Vendors

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Has anyone ever heard of eminisniper.com?

  #237 (permalink)

boston, ma
Trading Experience: Intermediate
Platform: etrade
Posts: 4 since Jan 2010
Thanks: 2 given, 5 received

I spent a few weeks in the room also. Moderators are very pleasant and appear to be genuinely interested in teaching and helping. As others have indicated, they are apparently quite willing to spend significant amounts of time off line discussing and instructing. However, I think they probably launched the room & system prematurely. Seems like it is still a work in progress. Here are some random thoughts...
  • When I started one of the mods was claiming that he generally took about 10 trades per day while the 2nd claimed he was only looking for 2 trades per day (the most conservative ones). Both were trading 6E. A couple of weeks later the prolific trader had dialed his trades back down to 1 or 2 per day. 2nd trader appeared to have changed completely to CL. Unclear whether either was trading cash or sim. Not that it matters all that much, but I believe to some extent that if a vendor believes in a system enough to sell it, they should believe in it enough to use it to trade real money. Hedge fund investors often insist that PMs have their own $ invested in the fund - same principle here.
  • Charts suddenly changed from range to HA.
  • Rules about entering around news time became flexible.
  • Lots of instruments being displayed on screen but not being traded.
  • Trades being missed because mods were responding to questions about random instruments.
  • Dreadful meeting room technology with the mods' voices inevitably disappearing when things were getting exciting.
  • Lots of instances in which 6E would have a strong move, the mods would watch it move and not be able to get in until the trend had been exhausted.
  • Haven't been in the room for a couple of weeks but in my last couple of weeks I don't think the chief mod made any $ on his trades (and must have lost a bit). He only trades one contract with tight stops though so losses are not insane. Given that he is trading the "conservative" signals and does not appear to be profitable, it seems hard to defend the method as being useful unless it is customised by individual users.
  • Very few signals - especially with the conservative approach. Often one per day on 6E. This leaves a lot of dead air space which they fill discussing great signals on instruments they are not trading. This can be a little...frustrating.
  • No track record. I think it would benefit the room a lot if they were to recap the valid trades actually taken at the end of every day and summarise the results.

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