I have been there and done that. I even purchased an indicator called the "Holy Grail" for Pete's sake!
I wouldn't be convinced about any indicator, ever. If you think about it, if there was an indicator that was so predictive, noise free and very profitable, why would anybody sell it?
Or from another angle, some of the smartest people in the world are employed by large trading firms and hundreds of thousands of dollars. millions even, are spent trying to get a statistical edge. So I doubt this vendor can back up their claims of "Highest percentage signal in all financial trading". So IMO, add it to the junk pile and move along.
All an indicator does is read price action and plot according to it. So why not learn to read it yourself?
For us regular small time traders, no matter what you think we don't have an edge and we never will. What we do have is knowing what the guys with the edge are doing. How? Well their footprint is left on the market each and every day.
- Trade what you see. Invest in what you believe -
Last edited by JonnyBoy; April 26th, 2016 at 03:27 PM.
Yep, I agree. We have to do our own analysis and not do what someone else tells us will work.
on stealth traders I did like the money velocity. It's different than the many b/a momentum etc indicators. I shows the building of volume. So you can actully see the volume. Has vol momo and block trade with alerts. I can see this one being useful. I would like to find something like this for less. It's $299. Discotrading has a nice b/a for about $40 but I can't actully see the volume total. Do you know anything else out there like the money velocity.
Well, it depending on your style... this ind could be good or it could suck for you. Me personally, I very much lean toward volume action. That's the main reason i like this ind. it looks to be a b/a weighted volume. wish i could do a trial of this one. I don't think they've got anything on trial. If i don't like something after a certain period of time can I get a refund? I'm especially leery of anything not guaranteed.
There's some great looking ind's here at bmt. still analyzing some of it. Looked at all NT7 ind. For me the verdict i still out. I will try to post later on what works for me. Being new here I will say that I've already got my hundy's worth!
I just watched the youtube video, and I have not laughed so much in a long time. If you really believe that this indicator will help you in your trading, even after what every one else has said on this thread, then you should go ahead and buy it. It is your money and you can do whatever you want to do with it.
However, if I hear anyone say that their indicator is 'predictive', then I would run very fast away from that person without looking back.
Why do you think it is a B/A weighted volume? If you are into B/A (delta) volume, then there are many GOMI indicators on FIO which (as you are an elite member) you can download for free.
In the mean time, I am attaching a couple of charts from Friday showing some GOMI B/A delta volume indicators that I use.
Regards and good luck.
Last edited by mrmuggins; May 1st, 2016 at 04:14 AM.
The following 2 users say Thank You to mrmuggins for this post:
Your charts look interesting. Like the various support and resistance and AGB. Is that gomi package? I've got a cd and b/a pressure ind from disco trader. It was dirt cheap and works well.
I've been tinkering with some of the items within NT indicator section. I think some of them are to plug into the gomi package subscription. When I tried to install them it broke NT until I deleted ind. I believe this happened with gomi related items. The download pages didn't clear info that gomi was prerequisite.
Regarding the stealth traders stuff. I have the same sentiment regarding the hypersnapback ind. I was referring to their money velocity. Why it looks interesting is tha Volume builds on a zero line. Actual buy volume builds upward and is green. Sell volume builds down and is red. Seems to have block trades and some other gimmicks but I just like the way volume is displayed. I have only found this one other place. But I think it was also pricey. The problem with cd or bid ask pressure/ momentum is that actual volume can be somewhat lost within that time segment. So If you have buy pressure building, subsequent sell pressure can cancel out some of that buy pressure within the indicator. So some of the volume gets lost in that overlap. At least that is what i've observed in my research.
You can download the GOMI package from this link. You will need to have this installed on NT7 in order to run all the great GOMI related indicators created on FIO. There is also a video to show you how to download (in post 2).
Stealthtrader Cockpit as I like to call it was nice assist type thing but $400 I don't know especially for RTH hours.
It is not the worst thing in the world, just overpriced.
I did notice a few tells on there that would be interesting to track and I trial everything to not get stale and I will monitor it on a different level.
Always been intrigued by filtering some intraday signals via certain stocks and that is what I seem to note that brought in some confluence without me have to have another Chart Intrep to weigh in on-if that make sense.
Following the actual ES signals during RTH I think I would have not been happy.