Helps a lot right? I was more profitable in my first 90 days then I am today.
I don't know what Henry & Co. are doing, but that is interesting. I only hear murmers and not familiar with the 'coaching game' all that much. Too bad to see NFT to last less than a year in its current configuration, but I think a new child may have something to do with that...
As I have said in the past, and I will say it again here, ANY system can make you profitable. It is just a matter of appetite for that system. If you think it looks delicious, then jump in and have a few bites. If not, then do not. I also believe it is a matter of time looking at the charts for MOST people. There may be the rare exception to the rule, but those people are always the one's selling you something... haha...
I think if I were a beginning trader (never looked at technical trading and not saying you are that person), then I would probably look more at Market Profile as that seems to be the magic indicator of the month. It has really gained some ground lately.
I like this system, I feel comfortable with it and I promised myself that NO MATTER WHAT, that I will stick with it till the day I die whether I am profitable or not. I like the small stops and large winners, but have to let those winners happen.
I have to admit though, if it wasn't for Horst, I would have probably hung up this trading technique after about 1.5 years. I no longer set expectations for 'when' I will be profitable.
So........ To answer your question in the best way I know how.....
It depends... Do you intend to stick with it forever and ever and ever? If not, don't use it. If so, then the purchase could be worth it, but considering that I haven't seen these videos then I can't help you decide and I don't know your financial conditioning.
For me, free is always nice.
Can you help answer these questions from other members on futures io?
OK, tks but wasnt the training videos part of your education when you signed up? I mean how did they teach you their techniques? was it coaching, the instructional videos that are part of the second bar or what?
Yes, the videos were absolutely key for repetition sake. The live classes weren't that amazing in my opinion except the occasional class which was a keeper, but those were about every couple weeks in my opinion but I am sure many would disagree with me.
The best part was spending time w/ Henry and other traders and seeing what it is that they were doing right or wrong. In my own way, seeing others charts and others thoughts about entries was the most valuable. I remember he would just SCREAM at people for their entries and so people would stop sending their real trades and either leave out a few entries or just not post. Henry can be a formidable personality and kind of passive/aggressive in a way that doesn't always encourage others to share.
That is why I enjoyed watching Horst on the forum here because I got to see where he was taking trades (when he was trading the TF) and measure it up against mine. What I found was that he had that extra 20% that was needed for profitability and I was close, but still limiting myself.
So, as far as the current configuration, good question, and I can't answer that, but personally I didn't really enjoy the live classes anyways. Can you learn the system through just the videos. Well, yes, but in 90 days, I don't want to doubt it, but I have a challenge in believing it for most and I think the odds are against you.
I think if you want to be profitable consistently then you should prepare for 3-5 years of time working through a technique and master it. How long does it take anyone to become proficient at anything.
The challenge with trading compared to other 'hobbies' that make money is that VERY VERY few people would actually do this trading if there wasn't GOLD at the end of the rainbow. So, this goes naturally against most human's nature and becomes a forced proficiency which takes perseverance, heart, etc......
If you post the occasional chart on the forum here, then I will gladly comment as long as it doesn't take me an hour to explain. I think some of my vid's are pretty explanative as well, but of course I am not a master trader (YET!!!). However, I could make videos that make me look like one. hahah...
The following 3 users say Thank You to bluemele for this post:
Ok, I was getting diverging signals! Short terms were telling me short, Long terms (probably more short), and middle term (long). Well, 2 - 1, then I should go short right? NOPE.....
610 and 987 were looking nice for at least a couple points, but absolutely no retrace today!!! I have to get better at trading days like today. When I do, I believe my tool belt will be complete.
3 gifts within 10 minutes, it is all in the video. I am not upset with my trading as it is a known weakness on days like this. In the past I would have made 10 gifts! The key is identifying days like this or at least understanding and reading it.
Video
The following 2 users say Thank You to bluemele for this post:
You are doing a great job with your blog. I've seen some of your videos before.
I'm not NFT student but I took their free trail and I'm testing it for my self right now.
The thing I noticed that you take trades in the middle of nowhere. You should try to seat on your hands until the price comes to the area (50%,76% or 89%) and only then consider your entry.
Another thing is I think you should try trading one contract. With all in and all out you'll hold it as long as possible. You should calculate your profit target and watch MACDs on the way there. Exit earlier only if you have a good reason to.
I'm saying it because I've made the same mistakes. I'm taking four trades a day now or at least trying. I don't get in before it gets to the area and it pays back really well.
The following 2 users say Thank You to vovan348 for this post:
Thanks for the comments. Actually I disagree that the area was 'middle of nowhere'. I would agree most days but today it was a 23% pullback and I was thinking a deep pullback then to the 50%. And, it even double bottomed with some support. (looking back of course it was clearly saying nope)
Fibs are highly flexible in the way one interprets them. I do agree that the area wasn't that 'strong, but I just wanted a couple points.
Holding it as long as possible going long today wouldn't have been real far. haha...
I agree though that holding is my big issue. I am not trading live, and sim and focusing on the way I will do it when I go live again.
How are you doing on your trading? Why don't you start a journal and share or you can share charts here? It is always good to share with the crowd.
The following user says Thank You to bluemele for this post:
I should start my thread I just thought I should get better before I do that.
Yesterday I took six trades and made 1.5 point per contract but I always count fees ($5 r/t) so that would be $120 net profit. I made a rule for myself 4 trades a day but yesterday I wasn't so happy and tried 2 more times but without giving anything back. I moved my stop loss to +1tick and I thought if does take me out that's fine if it goes in my favor I'll make some more.
Today I had four trades and made 5.3 points ($510 net). I think I just got lucky today because I've never made that much (my max was 4.8 pts)
All my trade are sim trades. I don't trade real money for now.
I don't see the areas though from your trades. You seem to be hitting all the pivots or when the bb's got back onto the bands, but not say a 50%, 76% only etc..? Were you doing extensions?
I think it would be good to add your own to mine or start your own journal (I really don't care), and I think it could be useful to collaborate some.
