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Shadowtraders system. Scam or real? (www.shadowtraders.com)


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Shadowtraders system. Scam or real? (www.shadowtraders.com)

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  #111 (permalink)
san diego
 
Experience: Intermediate
Platform: FXCM MarketScope, NT, Interactive brokers, AMP
Broker: FXCM, Interactive Brokers
Trading: FOREX, IWM, SPY, XLE, NQ
 
Posts: 228 since Apr 2010
Thanks: 72 given, 137 received


rdtw View Post
WOW! Thank you jodistrict for a very lucid post.



I would also be interested if your so inclined


I have been going through the videos and I am not trading live yet. So, I won't have any performance data for some time. One thing is I am still collecting data to see how I want to set my stops. Their system doesn't use set stops but uses what they call barriers - moving averages, fractals, pivot points, etc. I am still trying to figure this out. I still think the material gives good value for a beginner in comparison to some of the stuff out there. I did take an Online Trading Academy workshop many years ago which was a joke in comparison and a little more expensive.

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  #112 (permalink)
Chicago, Illinois
 
Experience: Beginner
Platform: Esignal
Trading: ES, NQ, Crude
 
Posts: 120 since Apr 2012
Thanks: 12 given, 223 received

Attended their seminar last month to see what all the fuss was about.

Huge waste of 2 hours....I think I missed Biggest Loser too.

Anyway, they pick very odd hours to trade instruments (for example CL at 7pm, not 7am when the volume arrives).
Can you trade CL at 7pm? Yes.
Should you? No.

The other thing, which absolutely stunned me....was that they don't use any stops.
I pressed the moderator on this....and she said their only going for a handful of ticks (handful meaning 4-5).
I then asked if she was joking, and she said no, that their "Fractals" are very good at picking support/resistance.

I then exited the webinar.

Anyone that day trades for a living, and doesn't use stops, and then attempts to sell their indicator to the masses has lost all credibility.

Theres a similar Fractal thing available for free on here, it didn't come with any users guide......but I will post here again when I figure it out and backtest it.

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  #113 (permalink)
san diego
 
Experience: Intermediate
Platform: FXCM MarketScope, NT, Interactive brokers, AMP
Broker: FXCM, Interactive Brokers
Trading: FOREX, IWM, SPY, XLE, NQ
 
Posts: 228 since Apr 2010
Thanks: 72 given, 137 received



SpyderTrader View Post
Attended their seminar last month to see what all the fuss was about.

Huge waste of 2 hours....I think I missed Biggest Loser too.

Anyway, they pick very odd hours to trade instruments (for example CL at 7pm, not 7am when the volume arrives).
Can you trade CL at 7pm? Yes.
Should you? No.

The other thing, which absolutely stunned me....was that they don't use any stops.
I pressed the moderator on this....and she said their only going for a handful of ticks (handful meaning 4-5).
I then asked if she was joking, and she said no, that their "Fractals" are very good at picking support/resistance.

I then exited the webinar.

Anyone that day trades for a living, and doesn't use stops, and then attempts to sell their indicator to the masses has lost all credibility.

Theres a similar Fractal thing available for free on here, it didn't come with any users guide......but I will post here again when I figure it out and backtest it.

I had the same concern when I joined. But Melanie does talk about stops in her Wednesday and Thursday classes. Stops depend on the type of instrument you use as well as the strategy - trend or counter trend. She teaches you how to get out of a bad trade based on their indicators. I am not sure what you are talking about with the 7 p.m. My guess is that was when the class was so she wanted to demonstrate live. Obviously, that is not a good time. Barbara does gap trades on CL starting 8:15 am.

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  #114 (permalink)
Prague, Czech Republic
 
Experience: Beginner
Platform: None
Trading: ES
 
Posts: 14 since Jan 2012
Thanks: 9 given, 3 received


jodistrict View Post
I have been going through the videos and I am not trading live yet. So, I won't have any performance data for some time. One thing is I am still collecting data to see how I want to set my stops. Their system doesn't use set stops but uses what they call barriers - moving averages, fractals, pivot points, etc. I am still trying to figure this out. I still think the material gives good value for a beginner in comparison to some of the stuff out there. I did take an Online Trading Academy workshop many years ago which was a joke in comparison and a little more expensive.

@ jodistrict,
I am sure by now, you have gone through those video, what is impression of the material and your recommendation.

 
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  #115 (permalink)
san diego
 
Experience: Intermediate
Platform: FXCM MarketScope, NT, Interactive brokers, AMP
Broker: FXCM, Interactive Brokers
Trading: FOREX, IWM, SPY, XLE, NQ
 
Posts: 228 since Apr 2010
Thanks: 72 given, 137 received


dmasau View Post
@ jodistrict,
I am sure by now, you have gone through those video, what is impression of the material and your recommendation.

I have been through all the videos. I like the system and this is the way I intend on trading. Another highly useful part of the training is the two hour seminars on Wednesday and Thursday, and the chatroom every day from 8:15am to 10:45am. I am still in simulation, but am making close to $200 a day in simulation. I still need more work to improve my timing before I go live. They teach you an entire trading system. So its not just a few indicators, fractals, etc. They really teach you to trade. I haven't found any course out there that does anything equivalent.

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  #116 (permalink)
Dallas, Texas
 
Experience: Intermediate
Platform: ninjatrader
Trading: crude oil
 
Posts: 88 since Dec 2011
Thanks: 70 given, 41 received

I agree with Jodistrict. This firm really tries to help struggling traders. I attended the Thursday Lessons, and Melanie a very good teacher. How to execute a trade is very important and she really teaches things that we as traders should master very well.

I like the idea of just making $200 daily. This just changed my mental approach to trading. What I learned from other "so called guru traders" is to look for a trade and get in an follow the trend nonesense and let your profits run..etec..

Shadow traders' method of taking small but CONSITENT profits and master only ONE technique before moving to the second technique, is just what a newby or old unsuccessful trader needs to build confidence.

If one looks at other trading courses, one can find day traders just taking 1 to 2 point profit daily is just the way to make a living day trading.

In the past I was totally over looking this very simple " principle" of making a living. Take small profits an run. Tomorrow is another day. The market will be there for another round of small profits. Later on add contracts to a fully mastered entry and exit technique.

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  #117 (permalink)
Prague, Czech Republic
 
Experience: Beginner
Platform: None
Trading: ES
 
Posts: 14 since Jan 2012
Thanks: 9 given, 3 received


avall38486 View Post
I agree with Jodistrict. This firm really tries to help struggling traders. I attended the Thursday Lessons, and Melanie a very good teacher. How to execute a trade is very important and she really teaches things that we as traders should master very well.

I like the idea of just making $200 daily. This just changed my mental approach to trading. What I learned from other "so called guru traders" is to look for a trade and get in an follow the trend nonesense and let your profits run..etec..

Shadow traders' method of taking small but CONSITENT profits and master only ONE technique before moving to the second technique, is just what a newby or old unsuccessful trader needs to build confidence.

If one looks at other trading courses, one can find day traders just taking 1 to 2 point profit daily is just the way to make a living day trading.

In the past I was totally over looking this very simple " principle" of making a living. Take small profits an run. Tomorrow is another day. The market will be there for another round of small profits. Later on add contracts to a fully mastered entry and exit technique.


@ avall38486, jodistrict,
Did you have a chance to attend the 4day seminar that was organized by ST and if so what was your impression. Are you still positive about this company?
Would you still recommend?

Thanks in advance.

 
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  #118 (permalink)
Prague, Czech Republic
 
Experience: Beginner
Platform: None
Trading: ES
 
Posts: 14 since Jan 2012
Thanks: 9 given, 3 received


jodistrict View Post
I have been through all the videos. I like the system and this is the way I intend on trading. Another highly useful part of the training is the two hour seminars on Wednesday and Thursday, and the chatroom every day from 8:15am to 10:45am. I am still in simulation, but am making close to $200 a day in simulation. I still need more work to improve my timing before I go live. They teach you an entire trading system. So its not just a few indicators, fractals, etc. They really teach you to trade. I haven't found any course out there that does anything equivalent.

@ avall38486, jodistrict,
Did you have a chance to attend the 4day seminar that was organized by ST and if so what was your impression. Are you still positive about this company?
Would you still recommend?

Thanks in advance.

 
(login for full post details)
  #119 (permalink)
san diego
 
Experience: Intermediate
Platform: FXCM MarketScope, NT, Interactive brokers, AMP
Broker: FXCM, Interactive Brokers
Trading: FOREX, IWM, SPY, XLE, NQ
 
Posts: 228 since Apr 2010
Thanks: 72 given, 137 received


dmasau View Post
@ avall38486, jodistrict,
Did you have a chance to attend the 4day seminar that was organized by ST and if so what was your impression. Are you still positive about this company?
Would you still recommend?

Thanks in advance.

I attended the four day and really liked it. Barbara, Melanie, and some guest speakers really give you a lot of information and put it all together. On Saturday and Sunday it is all lectures and then they live trade on Monday and Tuesday. Barbara also teaches an amazing scalping technique in the 4 day. I was profitable every day on the sim. I am also going to the Las Vegas live event. Melanie says that they are going to have a special session in Vegas to transition the sim traders to live.

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  #120 (permalink)
Dallas, Texas
 
Experience: Intermediate
Platform: ninjatrader
Trading: crude oil
 
Posts: 88 since Dec 2011
Thanks: 70 given, 41 received



dmasau View Post
@ avall38486, jodistrict,
Did you have a chance to attend the 4day seminar that was organized by ST and if so what was your impression. Are you still positive about this company?
Would you still recommend?

Thanks in advance.

dmasau,

I have not attended the4 day seminar. Melanie's Wed and Thu classes are enough for me. I like simplicity, and clear charts. I use only one or two trend following setups. I like Barbara's small and quick profit methods. I started to get consistent with simple scalping. Take the money and run. Consistency is what I am looking for and not mega profits.
Hope this helps.

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