People actually fall for this

March 12th, 2018, 12:46 PM

... very thoughtful, thanks @tpredictor.

That was my point: IMO, order flow with retail tools used by the independent trader is just ambiguous and/or subjective as the chart depicted. That said, I do find value in "enhanced" Time and Sales (tape reading) too.

I think your comments in italics are what some large (very large) participants are doing with AI / machine learning. However, they are using it as a trap for less sophisticated traders. Their biggest edge is SIZE. So, they go with the perceived flow/value, once the estimated volume of independents is in (knowing where the stops will be), they jam the book the other way to collect the stops and chasers.

For what it's worth, I tested your product a couple of years ago. Very Solid. I just couldn't make it work for me.

June 24th, 2018, 07:05 AM

All of the emails that I receive about trading, and trading systems, I expect to be falling into the Magic Beans category. I pay attention to the opinions of people I've learned can be trusted. A random Magic Beans salesman email is definitely headed for the bit-bucket.

It's like a random telemarketer calling your house phone. They say, "If only you'll give me 5 minutes of your time to listen to my spiel I promise that this is just a survey and not a sales call". Right! Don't respond to them, don't get involved with them, just hang up the phone.

Selling Magic Beans is a craft that can be learned, kinda like selling insurance. And for the masses of people looking to pay their rent it's way more profitable that trying to trade a financial market. Why is that? Why do they profit? Because of the vulnerability of the neo-traders who want to believe that Magic Beans really do exist. That if you sell me this indicator package it will say "Trade Here, Trade Now!" and it will always be right, and I will always make money, and I'll never have any draw down, and I'll never bust my account following this indicator.

Yeah, right!

Eric.

People actually fall for this

Discussion in Traders Hideout

People actually fall for this