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emini-watch.com

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  #41 (permalink)
New Brunswick NJ/USA
 
Experience: Intermediate
Platform: NT7, NT8
Trading: NQ, CL, GC, NG, HG
 
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Posts: 148 since Aug 2014
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mattz View Post
I see.

For me indicators are always a small part of a larger set up and not a trigger for trading. Rather than having fixed targets on indicators, traders should understand the context and volatility. But again, I don't know this specific one.

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

Yeah, I understand that. However, since the vendor provides, or recommends, specific trade-ups using his indicators (that one has to pay for), with set targets and stops, I can't understand why he won't, or hesitant to, provide trade performance expectations for stated set-ups, that's all. Perfectly logical, IMO.

Not much different if I am purchasing an airplane wherein the manufacturer would provide performance numbers to expect, such as true airspeed, rate of climb, etc. using specific power settings for any given temperature, pressure and altitude environments. But of course, this is trading and not aviation. ;-)

Who knows the guy could be on vacation and simply can't answer my emails, then I would respectfully apologize for all the negative things I have said and make a retraction.


Regards, Ricardo


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  #42 (permalink)
Chantilly, VA 20152
 
Experience: Beginner
Platform: Tradestation
Trading: emini
 
Posts: 9 since May 2016
Thanks: 0 given, 16 received

After reading this thread starting at 2011, now it is 2017 December. No one seems to be too negative about it.

I bump into Barry's free video, it seems pretty good. I started paper trade Emini since 2016 June. It's about a year and a half, still looking ways to increase the odd in understanding market structure.

In the video, he seems like a successful trader who did a lot of homework and improves his trade thru hard work overtime. I agreed most what he said in his free video. Trade less and focus with less distraction.

I was a little put off after I saw he sold indicators like many other people. Although he seems to put a lot of work in these indicators. So I am going to give them a try and see how well it fit my trading.

I can't help to think he may not be trading anymore since he would just collect the rental fee from the indicator. As he said, you always at risk while you are in the market.

Padraic

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  #43 (permalink)
Springfield, Missuouri
 
Experience: None
Platform: Sierra, Ninja
Broker: NinjaTraderBrokerage
Trading: ES
 
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Posts: 39 since Oct 2017
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Pley View Post
After reading this thread starting at 2011, now it is 2017 December. No one seems to be too negative about it.

I bump into Barry's free video, it seems pretty good. I started paper trade Emini since 2016 June. It's about a year and a half, still looking ways to increase the odd in understanding market structure.

In the video, he seems like a successful trader who did a lot of homework and improves his trade thru hard work overtime. I agreed most what he said in his free video. Trade less and focus with less distraction.

I was a little put off after I saw he sold indicators like many other people. Although he seems to put a lot of work in these indicators. So I am going to give them a try and see how well it fit my trading.

I can't help to think he may not be trading anymore since he would just collect the rental fee from the indicator. As he said, you always at risk while you are in the market.

Padraic

Come back to this thread and post how things are going, I am interested in these indicators also and would like to hear about your progress. Best of Luck to you!

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  #44 (permalink)
Chantilly, VA 20152
 
Experience: Beginner
Platform: Tradestation
Trading: emini
 
Posts: 9 since May 2016
Thanks: 0 given, 16 received

Hi Wipeout, hope your handle is not your trading account..lol.

I leased the indicator for $100 a month under the "new" Multi-Time-Frame screen feature setup. Gone with the older lifetime purchase.

The Good is that $100 to find out. If it doesn't work for me; A small sum. If it helps my result $100 is not an issue per month in trading Future (ES) as a retirement career. I had paid over $4000 for one vendor and another $3000 at another for the lifetime license on software/indicator in the last few years. Sadly, I didn't wind up using them as much even though they do forward my trading.

The background of these indicators are over ten years old and improvement from the author, His trading style should be valuable for many beginners in my opinion. I am relatively new to trade ES with 20+ years on and off in the stocks market. I like Elliott Wave and Harmonic along with Fib. Own all Al Brooks books and his video. Day trade Future is not easy with high failure rate, but the result is great when you can get in the club.

So, it took me no time to install it in my Tradestation. I used an international credit card to pay to avoid oversea exchange fee since he is in Australia, I believed.

My result improves in a short period. I test it from the middle of the holiday season to post new year at my paper testing. It may add at least a point+ at my ES trade. I was like many newbies start out as a scalper but have a feeling, it may not work well for the long term at least for me.

It took me a full day to understand the screen by reading his startup video and make some notes. After install, the chart looks very cryptic with the color dots and horizontal bars. He uses red as the bull and white color as bear take some use to. I left it alone to match the tutorial videos. Every day, I get a little more experience to use it.

Overview, his method is discretionary trading. The indicators don't tell you the entry buy or sell. But inform trader the market structure. So no holy grail here and system trading. His philosophy happens to agree with me to take small 4 points and out per day as in his free ten days video. So his indicators are revolved around that concept.

Three indicators on one screen.
1. Sine wave - with three charts in one, where he called it MTF (MultiTimeFrame) trading based from Dr. Elder books, I happen to read it in the 90s. It displays support and resistance in the chart from three-time frames. 500/1500/4500 ticks. I used to trade in 5 minutes chart from Al Brook but now convinced tick chart is much better.
2. Volume momentum - This is the best for me to add Volume in my trading, but it is not precise enough to use it as a signal as other had said. Volume is essential since it leads price to conventional wisdom.
3. Pro vs. amateur bars - This indicator marks the bar in blue and yellow to warn you who is making the trade. Professional or amateur.

The startup tutorial is okay to walk you thru the setup. It is easy if you know your platform well.

To get more experience how to absorb the indicators and its subtlety may take a while depending on your skill on how you may add to your current setup and integrate into your experience. For me, it felt like adding an x-ray vision in the market for me; mainly I gain volume information and pro and armature. The Sine wave three-time frame is excellent to see them on one screen without switching the chart as the older version was. You can still use the old way by changing an input parameter.

The most important for me is giving me more confidence in my entry and help me to stay the course during minor shake out. The indicator seems to help me to ride the wave 3 when it shows up.

In the end, there is no magic in the day trading world. That means nothing work 100%. Al Brook said 60/40 win rate is average or excellent. Otherwise, there is no market. Get your win when it looks sure and stays out make sense to me.

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  #45 (permalink)
Springfield, Missuouri
 
Experience: None
Platform: Sierra, Ninja
Broker: NinjaTraderBrokerage
Trading: ES
 
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Posts: 39 since Oct 2017
Thanks: 117 given, 16 received

Yeah, my handle means many things as far as my account is concerned not yet. Thanks for the response Pley greatly appreciated. ericbrown and yourself had good things to say about the better indicator series, I will take another look at them and follow up with some questions if that's ok. I'm also looking into Jigsaw I'm thinking of taking the dive into order flow and leaning to trade more like a prop trader, I was dabbling in using level 2 and time & sales when I traded stocks with good results but stopped and didn't follow through, takes a bit of practice. Now that I've moved to futures price action is not enough for me alone I'm on a journey now future is a hole different ball game.
Best to you! Wipeout

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  #46 (permalink)
Chantilly, VA 20152
 
Experience: Beginner
Platform: Tradestation
Trading: emini
 
Posts: 9 since May 2016
Thanks: 0 given, 16 received

I am thinking to try out jigsaw/order flow sometime down the road. The Best indicators work best in sideways or slow up and down trends.

For stronger up trend like last week. Another trend following indicator will work better. A strong trend doesn't happen often. So the Better sine wave is a good tool for ranging market.

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  #47 (permalink)
Springfield, Missuouri
 
Experience: None
Platform: Sierra, Ninja
Broker: NinjaTraderBrokerage
Trading: ES
 
Wipeout's Avatar
 
Posts: 39 since Oct 2017
Thanks: 117 given, 16 received

Hey Pley, Yes don't want to change whats working for you, it takes so long to figure out and test new concepts. prop traders are profitable in three months so will see what happens with me in three months.

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  #48 (permalink)
Leeds UK
 
Experience: Intermediate
Platform: TradingView
Broker: LCG, Oanda
Trading: ES, 6E, Cable
 
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Posts: 451 since Apr 2015
Thanks: 1,133 given, 606 received


Pley View Post
For stronger up trend like last week. Another trend following indicator will work better.


Not having an indicator at all can also work pretty effectively, in a trend as strong as that.



Wipeout View Post
prop traders are profitable in three months


Most prop traders aren't profitable within 3 months, and not within 30 months, either. There's a huge turnover of participants, with the great majority losing money.

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  #49 (permalink)
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
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Posts: 5,936 since Jan 2013
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Tymbeline View Post
Not having an indicator at all can also work pretty effectively, in a trend as strong as that.

...

Most prop traders aren't profitable within 3 months, and not within 30 months, either. There's a huge turnover of participants, with the great majority losing money.


mattz View Post
For me indicators are always a small part of a larger set up and not a trigger for trading. Rather than having fixed targets on indicators, traders should understand the context and volatility. But again, I don't know this specific one.

Matt Z

I just saw the activity on this old thread and wanted to take a look at what's happening on it now.

First, I agree with @Tymbeline that most prop traders, like most traders of any sort, eventually lose money. I also agree that you can make money without indicators.

Second, I absolutely agree with Matt's response that it's not going to be the indicators (or any other technique) that make the difference, by themselves.

With that said, I did buy Barry's indicators some time ago, for Trade Station and then for NT. (This was before his more recent consolidation of many timeframes into one view, with subscription pricing.) I thought, and think, that they are very good at what they are meant to do, and if you look at the market in the terms that he uses, I expect that they would prove very useful.

I do think that his use of the John Ehlers cycle concepts, and his extension of them to create a support/resistance indicator, is brilliant. The other ideas are well-designed and well-implemented also. I am glad that I became familiar with them.

But I never really used them in live trading. Not that there is anything wrong with them, it's just that a tool has to fit the user. Somehow, they were not my cup of tea. This may sound vague, and it is, but it addresses something that people looking for a solution may not have had the experience of yet: you need to have a basic idea of what the market is doing, and why, and then your technical tools need to help you in seeing the opportunities that are there, given how you look at what is happening. If they don't illuminate what is going on, for you, they aren't going to help you. And that basic view of the market is very individual.

This means that you can't get an indicator, or set of them, and mechanically apply them and expect them to work. The same can be said for any technique or method.

I still subscribe to Barry's emails, and get one from time to time. Years ago he used to send out an email every day, and after giving his overview of the day's action, he would play a recording he had made during the day as he was trading. I am convinced he was genuine, and that he was doing the live trading that he said he was. (Yes, I know that anything can be faked, but I don't think so. He was not always successful, and it had the feel of real trading, with its mistakes, second thoughts, and all the rest that goes on in real life.)

So I do think he is legit in what he is offering. Will it make you any money? Well, I don't know. (Which applies to any and every other person who offers any trading help.)

But if you haven't tried his stuff, and if it looks interesting to you, it may be worth giving it a try. Take this as a qualified endorsement. Just don't expect any indicator or method to do the main job for you. But do take what it gives you, if it proves helpful.

Bob.

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  #50 (permalink)
Springfield, Missuouri
 
Experience: None
Platform: Sierra, Ninja
Broker: NinjaTraderBrokerage
Trading: ES
 
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Posts: 39 since Oct 2017
Thanks: 117 given, 16 received



Tymbeline View Post
Not having an indicator at all can also work pretty effectively, in a trend as strong as that.





Most prop traders aren't profitable within 3 months, and not within 30 months, either. There's a huge turnover of participants, with the great majority losing money.

I have never thought of prop trading as a career, but it did cross my mind a few times if I could get the right training and could perform well. I want to take the Jigsaw Institutional course I Think it would be a big eye opener, after watching Peters webinars looks like good knowledge, I need to ask who has been through it. Tymbeline What do you Know about it. any info would be greatly appreciated. by the way, you could probably tell I know nothing about this subject the quote of the 3 month's profitability came from a jigsaw video and my quote is a little out of context. just to be clear.

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