Looked at another NT 3rd party provider--ninjaindicators4u.com.
They seem to have a system that does a good job of making good trading opportunities look obvious. They also provide several videos describing the indicators and the methods. Some of these indicators appear unique. At least they don't appear to have been lifted directly from futures.io (formerly BMT) as some other vendors have done. If anyone wants to look at the site and provide some feedback that would be great.
I found this guys webinars very straight forward and the "old school" mentalities he presents very refreshing. It was so nice to hear an intelligent person present some good reasoning for price action based "alignment" of signals approach. I also see he likes RENKO charts and I could not agree with him more in his analysis.
For a newer or developing trader who wants a pre-packaged mechanical approach, I like this system overall. I would rather see a newb trading these defined mechanical set ups versus following a guy in a chatroom blowing out $312K from a slick website.
the guy is legit
he is retired doctor (anesthetist if im not mistaken) hes in his 70s.. always keep everything updated, nice straight approach as someone mentioned here.
Thanks for bringing up this vendor site. I watched the webinar. And I was impressed how he made a good intelligent case for his indicators and using Renko charts which I'd never considered before, then he showed some of his supposed profitable trades. I like how he emphasized determining a trend's strength and whether it would continue and trying to eliminate ambiguity as much as possible. It was a very well thought out "left side of the chart" presentation and nice and easy to understand. It would be nice if he showed some time jumping live trades with it like Barry Taylor does on his emini-watch.com site. i.e. showing when he entered live, then time skipping to the resolution of the trade live, preferably with DOM or charttrader on.
Yes, it seems more M.D.'s or former M.D.'s are making more of a presence on the trading vendor industry.
I emailed Don about the indicators through his contact email form on the website. He was helpful and informative and offered a trial of the indicators for 5 trading days for $50 (non-refundable). I decided to try them out. I'll see how it goes.
I noticed something I was stupid not to have noticed before. I noticed in the videos of triangle trend , there was not one loser reviewed. Just winners, or staying out of bad trading. Not showing losing trades, and I've had big losers on the ES recently is disturbing. And the indicators are still touted as "discretionary". Also on the website, it's said no need to modify the indicators. But the creator has modified settings more than a few times in the last few weeks and come up with another new indicator to further "filter" the previous indicators. I'm kicking myself for not noticing no losing trades earlier.
lol. Yes, hasn't it been said, when one buys a new car of any brand, they notice a whole bunch of others driving the same or closely related model. Well then, I did TOFTT in this case.
I emailed the creator questioning him about lack of losers in the videos. He said of course there are losses and the videos are titled "trade of the day". But the winners outweigh the losers (don't they all). And he said it's good to have a positive reinforcement and go over winning trades only. As journaling or analyzing the losers won't help. Amazing! Does that sound like something an experienced good trader would say? Certainly not in the spirit of futures.io (formerly BMT) type of journals.
I thought I would stop falling for it again and I just did.
you are 100% correct on the "losing trading issues" i had the same problem and doubts about it.
acctually i still have them.
THE NEGATIVE THINGS (are not few)
- the guy never loses (acctually, recently in one of his videos he addressed that)
- has no live demonstration/trading room (he also mentioned it in the video)
- a lot of times he managed to magically nails the damn bottom and top
- after almost 12 months studying his system, i havent been able to replicate it at the same level he does, and this is bad.. very bad
THE POSITIVE THINGS
- i got into renko bars, and they are amazing.
- swing cycle vb indicator does help me to identify oversold and overbought
- his DMI DIFFERENTIAL indicator along with the renko bars, have been nailing some really interesting divergences.
since i havent been able to replicate his system, i have come along with one of my own. ill describe it below.
unlike him, that let the trade run .. i cant and dont do it. i set a a profit to the same amount of my renko bars.
if i have a 4 renko, i set a 4 ticks profit (corresponding to the 4 renko bar) , if 5 renko .. 5 ticks profit , and so on.. you got the picture..
so
long story short, after 12 months, i got my suspicious on his way to nail exactly bottoms and tops, i respect the fact he doesnt (in his own words) "feel like having the energy to have a trading room" , i havent been able to incorporate 100% of his system, however, i must admit some of his approach has been added to my style.
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i have attached a screen shot of MY REAL ACCOUNT at MIRUS, with "my triangle trading sytem"
i am not affiliated with this guys, and as i said before, i have both, positive and negative insights on his videos and system.
below in the picture you can see what i talked about DMI DIFF DIVERGENCES + PROFITS AT THE SAME AMOUNT OF YOUR RENKO BARS.
you see the renko making new highs, but the dmi diff going down,
so i wait for a renko to close down, and then i get in the beggining of another one.. you can see by the magenta triangle my entry.. the i get out at 5 ticks profit, because i have a 5 renko bars.
the divergence happened by the market close (7pm at my timezone) the trade unfolded by 11pm .. renko bars are slow but incredible reliable.
you have to set some alert line so your computer beeps to tell you when trade is near.. otherwise you got be a robot to stare at the screen for hours in a row and not miss it.
Thank you very much Jayminho for relating details of your longer experience with triangletrend indicators.
It help confirms what I was afraid of. Nailing close to the exact top and bottom like he does is extremely hard to duplicate by anyone else. One could incur a lot of losses before finally catching on a trend.
I emailed him the question about live trades too. He also said the same thing about age and energy and yes, I can respect that. But at the same time I don't see what the problem is recording the whole session and just editing it to show live entry and skip ahead to the live exit with the common video software out there now. He certainly knows how to do transitions on his videos. Al Brooks in his recorded live webinars has an editing program that only re-records the video when he's talking so as to condense the recorded videos and not the whole 6 hour NYSE session.
Did you get the RWO indicator? It was supposed to replace linear regression and rsquared. I found I prefer using RWO for divergences than DMIDiff. But actually I could still use the ol MACD just as well for divergences.
And imo, TriangleTrend101 and it's oscillator counterpart BinaryTriangle are the least effective of the triangle indicators. Why? because it's absurdly simple to see Renko bars forming a new "triangle". There's no real edge to drawing colored hypotenuses on Renko bars is there?
If anyone else is curious, the SwingCycleVB is the best out of the bunch if you're going to buy only one of the indicators. But I bet a good coder like FatTails could make something similar as it's color coded to hidden bollinger band values. Heck, I could probably make something similar, I've coded and modified a couple for myself. Just that I'm spending most of my time trying to be trading profitably rather than coding indicators. Just put a stochastic on overlay on price like the Felton method, and put another oscillator on overlay and now you have something similar to SwingCycleVB.
Thanks for showing your setup Jayminho. I'll give it a try. I guess this is the case yet again where one has to make indicators work with one's own methods instead of following the exact methods of the creator if it can be duplicated at all. But at this moment my sentiment is to burn the indicators in the trash if I could and get drunk listening to that ol' western tavern piano music of the triangle trend videos, Doc Holliday's magik Eeeelixer!
lol, i know how it feels like. thing is, old don is legit. and if he is not, he is a very good fraud. (and he is also dumb, because he could be making money with his system for real ) now.. i learned a lot from both old entry method + with the addition of swing cycle, it changed , i have adapted to it, and incorporated to my entries as well.
below is a screen shot from the "decision bar" entry i talked about
prior to the swing cycle he would use this entry all the time
as he likes to say "synergy" he would await for a line up of the indicators r-squared, dmi, bbosc, and get in after one, bar formed, he would never get in a fourth bar, fifth bar as he does nowadays (after the swing cycle introduction)
ironically, this method that he doesnt mention , and probably doesnt use anymore, still works fine.
ps: i have just checked his website and the video of today he mentions "live recordings" maybe, his system is becoming popular, and he is getting pressured to do it live..
Yes, I would agree that with this thread's 1000+ views, TT is probably getting a lot more attention these past few weeks. I find it surprising you're still using the TT indicators primarily after one year? So your goal is going for a scalp point or so at a time? Yes, the genius nailed those max highs and lows pretty good, lol.
Sorry I don't quite believe in the "synergy" of indicators anymore. It kind of reminds me of Doc Barry Burns and his "topdogtrading.com" course where he has five "energies"(indicators like stoch and macd) and to look for synergy. It's what a brand new daytrader student is told to look for if he starts out using an indicator system or for dupes like me who fall for a vendor set of indicators again.
I've already bought the TT indicators and the sold dream of nailing exactly top and bottom and of a 3-5 pt trend based on an indicator set. It's the price I pay for my stupidity and gullibility. So what I'll do now is drop the DMIDiff, TriangleTrend101, Binary Oscillator, BBBDIffOsc, from my charts and keep RWO and SwingCycleVB. Since I had stopped using stochastics for a long while, I'll use SwingCycleVB. And use RWO for divergence picking. If it doesn't prove any better than my modified macd, I'll drop it too along with the others in my junkstore secondary drive.
Here we go. First you can see the SwingCycleVB not overlayed with price. It looks like two oscillators crossing each other. Hardly a novel idea. Then I overlayed two stochastics and fiddled with the settings to approximate the SwingCycleVB in 10 minutes. Maybe some weighting or other settings will make it exact. Then one could code color changes whenever a bollinger band "squeeze" occurs or some other logic to change colors on the oscillators. (macdBB's code probably can be modified to do just that) Which has been commonly seen on MA's which change color. And here we have it. Someone else could probably do much better. Notice the stochastics cross each other fairly close to the SwingCycleVB crossing intersections. And now you've got a cycle cross which you can also overlay on the price chart to help make entry and exit decisions. Have fun.
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I would agree I'm hooked on it. A more refined form of slot machine addiction. I'm looking at other ways now to try to score swing trades. I know what you mean about closing down NT to stop myself from trading anymore Thanks for the praise about the stochastics. To be honest, it wasn't too involved. What clued me in was during the instructional tt webinar, he mentioned the limitations of stochastics at the boundaries while introducing SwingCycleVB. So I tried to make a couple of stochastics look like it. Then lo and behold, it looks very similar and would seem to confirm that SwingCycleVB at it's core is simply a couple of stochastics. Maybe one day I'll attempt to implement the down/up/neutral colors on the SwingCylce-like stochastic and the BB squeeze colorchange on the VB-like stochastic. Here it is again. I want people to see it then compare what's offered in swingcycleVB for purchasing it.
The ninjaindicators4u guy emailed me notification of an updated indicator, of course a separate fee "upgrade".
Just posting for "completeness" of this review thread.
""
As you know, cycles are measured from top to top or bottom to bottom. This measurement is the dominant cycle length of the equity. By dividing this number in half, you get the length of the cycle from the bottom to the top and from the top to the bottom of each cycle. By entering that number into the DCLen input of the SwingCycle VB indicator, you can greatly increase the accuracy of the indicator. Another way to put it is that this is a way to optimize the SwingCycle VB indicator.
Hi @Cloudy,
How did you create the stochastics? Did you use 2 seperate stochastics? The 1st setting for the k line and the 2nd setting for d line?
Thanks alot
Hi, yes I believe so. On one stochastics the K curve was made transparent, while the other stochastic omitted the D curve. The numerical settings for each of the 2 stochastics, are shown in the old .jpg ; Sorry, but I'm not in the mood to dig out my old copy of the SwingCycleVB after being disgusted and embarrassed with myself for falling for the set of indicators.
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Thanks @Cloudy. Maybe this will make you feel a little better knowing that other people do it too.
I had been trading options for four years and time decay kept kicking my butt so I switched to futures in Jan of this year. I knew I needed to get better at staying with the trend, so I did a little digging and found some trading system designed to help me stay in longer. $3400 later I am not using them at all. I am using my same system with some tweaked indicators from here.
But wait it gets better. I have been wanting to learn order flow for a while so I did my homework ( not well enough though) and found a guy that said he could teach me. The course was 5k and I put 2k down and would pay the rest later. It only took a couple days to a week to find out he wouldn't be teaching that at all. just some fib stuff and some indicators I didn't need.
I am no means a noobie trader but I have made some stupid decisions like that this year.
Have a great day and thanks for replying
The following user says Thank You to dnkhoward2 for this post:
Thanks dnkhoward2 for sharing. I appreciate the consolation thoughts. Sorry you had those experiences with
dubious vendors too.
A few more notes about ninjaindicators4u which I hope is not overdoing the review. I initially got fooled
into thinking the guy's videos were true as he was making > 4 points on the ES daily according to his recap.
After trying it out and being frustrated I contacted him. He replied that his recap goes over the "best trade of the day" and not necessarily going over losers which proved my suspicions I'd been had because he never showed any losers, and as usual no money management or how far to hold out on a trend etc. According to his background info
shared on the site, he was a former MD, and obviously he's elderly sounding from the videos so the only
sympathetic understanding I had was that maybe he's truly financially desperate at this point in his life to constantly
make outrageous claims in his daily videos with the TT indicators (https://www.ninjaindicators4u.com) , and that he must have helped people in his former career and life. So I just left it at that but in any case, I've tried to warn others through this review thread. Plus it's stated on the site there is no refund.
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) now.. i learned a lot from both old entry method + with the addition of swing cycle, it changed , i have adapted to it, and incorporated to my entries as well.