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Viper Trading Systems Indicator


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Viper Trading Systems Indicator

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  #81 (permalink)
Buffalo NY
 
Experience: Intermediate
Platform: Ninja, Tradestation
Broker: Glocapmarkets
Trading: FDAX,FOREX,GOLD,NQ,CL
 
Posts: 35 since Dec 2009
Thanks: 8 given, 10 received

im in agreement about proving out a methodology. if you cant show statements then whats the point? anyone can color out the account number and still show that what they are teaching is real and has validity. ive had my share of buying tools and indicators from vendors. most of the ones i worked with always either talked about the trades after the fact, or if a trade works thats not in accorance to their rule set they change it to accomidate the end result of the trade.

the best thing anyone can do is to setup a proper money management plan. know your risk and reward on every trade you take. knowing this is your true grail in my opinion.

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  #82 (permalink)
Washington DC
 
Experience: Intermediate
Platform: NinjaTrader
 
Posts: 214 since Jun 2009
Thanks: 110 given, 117 received


vinceb View Post
im in agreement about proving out a methodology. if you cant show statements then whats the point? anyone can color out the account number and still show that what they are teaching is real and has validity.

Actually even an account statement proves nothing, as Larry Williams pointed out in one of his books. He showed how a vendor if he really wants to be unethical, would open two accounts. Then in each one take the opposite side of the trade. Only cost then is commissions. Then take the best one, and build your pitch on that.
Nice, eh?

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  #83 (permalink)
USA
 
Experience: Intermediate
Platform: NinjaTrader
 
gfg1's Avatar
 
Posts: 73 since Sep 2009
Thanks: 21 given, 75 received


What finally did it for me with the 3 stooges (Rich the wizard Staiton, Charles the late show, and Gary the good guy) was when they repeatedly said that gotomeeting was the reason that chats among members could not be shown. I guess they take their members for snake oil lemmings, which in reality, is the case. lol

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  #84 (permalink)
Washington DC
 
Experience: Intermediate
Platform: NinjaTrader
 
Posts: 214 since Jun 2009
Thanks: 110 given, 117 received


gfg1 View Post
..... Charles the late show,

ROFL. That's great

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  #85 (permalink)
ottawa ontario canada
 
Experience: Intermediate
Platform: ninja trader
Broker: ninja trader brokerage
Trading: es
 
Posts: 98 since Sep 2009
Thanks: 17 given, 22 received

iam a subscriber to the viper trading sysem (discretionary trading no autotrading for me)and i love it i use to trade the ES i use 5 range charts for entries and 8 range chart for trend identification system is great

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  #86 (permalink)
Chicago
 
Experience: Advanced
Platform: NinjaTrader
 
Posts: 27 since Jan 2010
Thanks: 6 given, 2 received

I believe that if a trader can make it past the stage where they are taken in by the sales pitch of every system, indicator, and trade room huckster they just might have a chance at making the next step toward profitable trading. I don't think these people should be considered as trading mentors.

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  #87 (permalink)
Queretaro,Qro. Mexico
 
Experience: Intermediate
Platform: Ninja Trader, Multicharts
Broker: Mirus/Zen-Fire
Trading: ES
 
Posts: 33 since Nov 2009
Thanks: 5 given, 3 received

As like many other indicators, it has its strenghts and weaknesses but in general it's a very good and simple one. I have traded the ES using a 5 range chart and what I like the most is that it keeps me more time in a trade than many other indicators. It also holds during pullbacks (small pullbacks though)

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  #88 (permalink)
Chicago
 
Experience: Advanced
Platform: NinjaTrader
 
Posts: 27 since Jan 2010
Thanks: 6 given, 2 received


spikoloco View Post
As like many other indicators, it has its strenghts and weaknesses but in general it's a very good and simple one.

True enough these are simple indicators. They are also free so save yourself some money!

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  #89 (permalink)
Buffalo NY
 
Experience: Intermediate
Platform: Ninja, Tradestation
Broker: Glocapmarkets
Trading: FDAX,FOREX,GOLD,NQ,CL
 
Posts: 35 since Dec 2009
Thanks: 8 given, 10 received

trade 2 accounts? gee there are not any limits when you want to steal i guess.

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  #90 (permalink)
United States of America
 
Experience: Advanced
Platform: NT
 
Posts: 1,149 since Aug 2009


This excerpt from Jane's superb analysis is all you need to know to stay away from Viper's Russell AT unless you enjoy losing money. Allow me to net it out for you.

From 9/09 thu 12/09, AT gained 368 points @$10/point = +$3,680.
900 contracts commission @$4.50 = -$4,050
Viper fee, $299/month x 4 = -$1,196

NET LOSS: $1,566.

Well, Charles, Rich, Gary, and the subscriber's broker made money; and four out of five ain't bad.

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