I attended a KP Open House in Nov. Studied their training materials several times and attended their regular chatroom's review sessions for some weeks. Really like the system BECAUSE I know what I'm doing and can spot trading signals on my own. I particularly like the following trading rules:
1. an initial 4-tick target should be hit within 3 minutes, else get out
2. exit BE or 1-2 ticks to the market with a warning such as yellow price bar or price enters back to the bollinger
3. A900/AutoStop crossover (lime/aqua lines on the 7500 volume chart) may signal a great trade esp when price close above or below the lime line
4. Yellow bar with red or blue dot on 7500 volume chart - get ready for a trade (2UP/2DOWN) on the 3350 volume chart
Unfortunately, the system cannot safeguard choppy trades - same for most. Now that I have bells/whistles alerting me "loud and clear", I stand a better chance in having more winners and minimal "baby" losers! Like I said many times, money management + emotion taming for me are the keys!
Oh, regular subscription to their indicators (not 1-time fee) is not appealing.
thanks for your reply . Hope you spent a good Easter !
Just a simple suggestion: when you look at a "system" like the one above mentioned all seems very clear and basically simple, BUT but I invite you to look at any chart witha lot of entry / exit signals to go back using the arrow pointer of the mouse for i.e. half a day ....then discover click after click the charts evolution and relates signals and you'll see that ALL what seemed so easy to see having a "global" evidence of the day trading ( where it is so easy to say ...ok that is a good entry point ...ok that a good exit point ...ok that entry worth more than only 1 lot ... and so & so etc .... ) will not show the same impression if you roll the chart click by click, and worse you'll see that more than one entry, I dont care long or short, will reveal not profitable or more than dangerous considering the reaction timing of a normal person and leaving behind that your order could be accepted and also finally executed .
This just not to teach something to You or all Fellows in this valuable Forum, but to avoid any mislead that for people selling this kind of "coloured gaming utilities" often "stolen code" from Forum like this one where people research and share for free it own knoledge without any money profit, but just for the pleasure to share knowledge, itemize money .
This is not directed to a specific products but to many products available on the Market to pull money out of the pocket of many newbies with a low profile investment & commitment for these companies.
Do y ou know how many times I saw chatrooms and a "guru" calls in the market without a real report, without an arrow pointer that shows exactly where the call is placed, but with an heavy advertising campaign bla... bla...bla showing fantastic results .
Hope I have been clear enough
Cheers and Regards
Last edited by Alinghy; April 5th, 2010 at 03:09 PM.
The following user says Thank You to Alinghy for this post:
Thanks Alinghy for sharing your experiences and observation with us. Newbies (incl me) certainly benefit from you. Yes, there're tons of service providers aiming at our pockets and not really being genuine. Some did exactly what you said in their day trading room, ie after a good trade, then asked "Did you get a piece of it?". Some never ever showed their trade log/account.
Regarding KP, they're quite genuine (I'll give them an 8 out of 10). Their review session (3 times a week I believe) covers the morning trades (both good and bad). There're mornings when all trades were choppy and whoever followed the signals 100% would have a losing day. They would not hide them and/or gave reasons to justify.
Having said that, whoever located the Big Mike Forum are very lucky (incl me of course). They have access to tons of amazing indicators and systems FREE + sharing the talented members' expertise.
Once settled with a system (very important I find, ie comfortable with the signals and trading rules), money management and trading discipline will make a big difference!
Happy & Successful Trading Always!
The following user says Thank You to wgreenie for this post:
I appreciate your answer. I know people you mentioned and I f they are less worse than others, to semplify I address you a simple question :
why they didn't keep open, anymore, the chat option to can directly contact among the participants to the room ? Think and let me know ...
Or the other Company that drive the chat room answering ipothetical question received from participant that are not shown in the list neither the questions themselves ...
My final idea is : one of the most difficult activity in the world . Why ? you must have almost 1 good Pc (better 2 or 3) and very very good data Feed (I have ZENfire I think one of the very best, almost for what delivers !), good internet connectivity DSL or other type, but working at the best of actual "state of the art", infinite knowledge ...... solid nerves...what else ? There are Platforms not working properly, with error coding inside, displaying data that are not right, what else ?? much more .
I dont know what the right answer could be !
@ BIG MIKE
I' d like you post a chart for an instrument, I dont care about wich one, provided and featured with all the indicators you consider reliable and unavoidable settled-up in the best manner possible for your opinion and experience .
I say that because I saw lots of indicators, also extremely attractive, but finally crossing over the graphical dress, are they, at the end, all reliable on good level ??
I meant: is this exasperated exercise finally useful compared with the need to obtain the best entry point, because I am sorry to say that, it is my impression that most of the indicators are only good for coloring the screen.
I dont know what could be your answer, but I wait to read it carefully .
Last edited by Alinghy; April 7th, 2010 at 06:50 AM.
This is Beth's thread. But such a chart does not exist. The best chart is one with no indicators whatsoever and you learn how to trade based on price action only.
Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.
Need help? 1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first. 2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses. 3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make. 4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance. 5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers. 6) Help using the forum? Watch this video to learn general tips on using the site.
If you want to support our community, become an Elite Member.
The following user says Thank You to Big Mike for this post:
Just came back from a tandem bike ride. Very sunny here (we had snow last May) and hopefully no more snow! Sorry to keep you "Alinghy" waiting!
I came across a few chatrooms and almost all do NOT have an open chat option among the participants. Believe the organizers do not want to have someone talking behind their back. They may sneeze too much that they cannot focus on trading LOL! A Chinese saying: If someone is thinking of you, you will sneeze .. smile ..
I WISH I have 50% of your final idea. FYI: The small city I'm residing does NOT offer acceptable Internet service unless one is willing to invest thousands of $ on a satellite dish + a few hundred $ monthly access fee. It's a little better than dial-up and more reliable than last year after my husband's relocating the external modem to 100' up on a TV tower.
Before relocation, he had to climb up the roof of the house 2-3 times daily to move the modem around for a better signal. You know about my 2-year old laptop (I sent a sos message to Alinghy before) and it's still giving me "low disk space warning" 2-3 times a week. Last time it went to 0 disk space - gosh!
Bottomline: I'm doing my very best (both mental and physical) to overcome the challenges you can't imagine. Sometimes I would ask myself IF I'm dreaming of Impossible when I don't even have the minimal to work with!! Well, I came into conclusion that IF I do nothing, nothing will happen. Persistence is my strength and I will hang on .. haha ..
Thanks to Big Mike for his response to your suggestion. I agree with him 1,000,000,...% that the best chart is one WITHOUT any indicators. It's a ZEN idea (I'm a Buddhist .. smile)! Maybe one day I will get there .. We can certainly apply this approach to our life. To lead a Happier life = live with LESS and NOT more!
Thanks again Alinghy for enlightening us!
The following 2 users say Thank You to wgreenie for this post:
ES Sim Trade Result on 6 April 2010: $15 after commission
Believe your morning has been going well. I'm a "good" girl this morning as my trades align with the overall trend (up)!
1. Trade with the Trend. Only want what the Market wants LOL!
2. Preserve Precious Capital. Am quite happy with the way I managed my trades this morning.
Done with sim trade practice and I will explore more on the new indicator (Atlas line). You will notice my removing the TSF/SuperTrend strategy from the 7500 volume chart. I figured out its entry logics. Seemed not working for ES.
Non-trading activities for today: MUST make some peach tarts + a short yoga session (using an interactive XTreme Yoga Mat) else I will get into trouble.
Have a Great day.
The following user says Thank You to wgreenie for this post:
No official KP/d9 trades for me this morning. You can tell from the 7500 volume chart that choppiness (white dots) until 10:40 there's a short signal. I chose not to enter short because 1/8 Murrey Math (weak, stop & reverse) was only 3-4 ticks away.
I have a new 5-minute chart with the Atlas Line indicator on. Also amended it to one with audio alert + showing the suggested entry price. It had a long signal aro 9:45 and my order 1183.25 (1 tick below the suggested price) was filled at 9:51. I placed 2 subsequent orders after it's filled, ie 1185.25 (2 pts PT) and 1180.25 (3 pts SL). It went up to 6 ticks above my entry before dropping and hit the SL.
The trade lasted for almost an hour. My emotion was very calm throughout the whole period because I left the trade to run its course. I was the machine activating the trade and that's it. Certainly if the suggested entry price did not get hit, no big deal too.
Now I need to figure out HOW can I program myself in that mindset when I manage the KP/d9 trades or any other manual trades?!
Back to the Atlas trade. Should I allow any human interference, I would probably close the trade when it started dropping 2 ticks close to my entry. One should never ever let a winning trade become a losing one LOL! I also do not like the suggested 4-5 pts SL even I adjust it to 3 pts (still too much and it's not a reasonable risk/reward ratio). Having said that, I do like the indicator giving specific entry/exit.
Well, let me try to figure out how to enjoy both worlds .. is it possible?
Another Update: I just signed up for a Market Profile webinar on Apr 18. Thanks to Ben and Big Mike for offering this great learning opportunity to us. Oh, I have to confess that I have absolutely no idea what Market Profile is. Will do some research before the webinar to maximize the learning benefits.
Thanks again for your support and witness my growth!