The claims on the pro on line trader site do not seem out of line to me.
If you have a $10,000.00 dollar account and you get +10 ticks in CL with one contract that's $100.00.If you do that for the 20 trading days in a month that's $2000.00 or 20%. One trade a day.....one contract....everyday.
Dragon, if you look at the rest of the screenhosts (click on month names) you will see that the idea is a bit different. Is not based on breakout from sma or after long bars. Long bars just happen. As i can see their system, there is an average day range, or a posible trading range, calculated for current day. There are some buy and sell limits. If price reach that limit, system enters. Not sure about exit, looks like fixed targets with a 3 points stop loss.
Sam, it looks like the way they calculate S/R keeps you out of choppy days, or at least days when market trade in a narrow range. What i want to know is how that ADR is calculated, so i can make some backtests myself without paying $1500 .
I took a look at the October and September trades. He showed all the winning, losing days, and no entry days. Hats off there for allowing us to see all the setups. Do you think the system enters when it crosses the 16 line? Kinda reminds me of the new futures.io (formerly BMT) envelopes. I think you could develop a very similar system with that indicator. If you donate to the forum you can check it out in the Elite section... It's a brand new indicator that works very well imo.
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I added it to the acronym expansion, so now when you mouse over ORB it will show. I add them here and there as I remember to do so
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I think it enters as soon as the first line is hit (ADR line), either up or down. It does not enter for a close below the line, enters as soon as trigger price is hit. It seems t bealso a time based entry. The entry is only valid if it happens from market open (9:30) and upt to 12:00
16 looks like is the first target. Stop loss is always 12 ticks (3 points) and exit is a bit weird. There are moves where the 32 line is hit but chart say break even or even a loss. I think the exit strategy sucks or i am missing something. I do not see any traces of trailing from what i see in charts.
Last edited by omaron; November 17th, 2009 at 09:40 AM.