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

  #21 (permalink)
Market Wizard
virginia
 
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its has been more than 1 year now but all you can find from search are reviews preface with, it looks... it sounds... in another word there is no first hand experience of any of their student. There is one report from ripoff site, a sale guy saying they didn't pay his wage but no mention about the method itself.

 
  #22 (permalink)
Elite Member
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jodistrict View Post
I was looking into it but couldn't even consider it because they require an Internet bandwidth of 5 Megs which I can't get where I am living in Mexico. From what was explained in their talks, you need the bandwidth because the system depends on the slopes of lines and so the data needs to be accurate because a slight error in slope can give a different result. I have been getting good results with the indicators here and don't need to pay $900 and have the additional complexity and aggravation of depending on another complicated software system that may crash or have technical problems. Too much emphasis is placed on accurate indicators, when psychology, trading skills, and money management are just as or even more important.

Yea .... I have no experience with this website/company but to have an 'Internet bandwidth' requirement like that is absurd to me and also assigns a level of precision of movement in the markets that does not exist, IMO. This bandwidth requirement is probably just a gimmick by them to make their system seem more precise than other stuff.

Anyone can cobble together a website and 'system' like this and it isn't a scam or fraudulent in any way unless they are promising wild returns to you.

For day trading an index, consider using this simple system and it's free: see how price behaves at 'significant' short term support or resistance pricing areas and go with the short term trend as price either moves through these areas or bounces back into the range. No charge.

"The Future Ain't what it used to be"
 
  #23 (permalink)
Elite Member
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cory View Post
its has been more than 1 year now but all you can find from search are reviews preface with, it looks... it sounds... in another word there is no first hand experience of any of their student. There is one report from ripoff site, a sale guy saying they didn't pay his wage but no mention about the method itself.

Me and three other friends 'subscribed' so I was on the fringe (as for many systems that my friends joined in on). Two paid while the other two (me and another friend) just piggybacked. I would say that my experiences with them were as a 'student', but honestly I never took it serious due to such large stops and small take profits...

 
  #24 (permalink)
Elite Member
Berlin,Berlin
 
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I took shadowtraders course and several 4 day seminars.
I saw Barbara Cohen trade, and it was near 100 % . I never saw another trader trade live in front of others and every trade worked out. She is the only one I ever saw trading in front of others like this and with this perfection. She was on sim but I followed her with my live account. She has a broker licence and she is not allowed to show her life trading, but she can trade. On seminars she is allowed to show "education", so on seminars she is allowed to trade in front of others. She takes 3 ticks with a countertrend strategy on CL. I am doing the same, since october 2011 and since then I make money.
I am sorry to hear that the is scientologist, I did not know that. Are you sure? This is a shock for me.

Honestly, I bought many packages, but this one was the only one that helped me with my own trading.
I do not get money from them to write that in forums. I am just thankful for their help, as I tried so much.
I am also a member of fulcrumtraders. I am independent, just a private trader, a bit nervous and hesitant, scared money, etc.. My "gaptrades" on CL that I learned from Barbara make me money. I trade part time.
Today I made 3 trades on CL, each trade 3 ticks, 1 lot. I could have made more, but I want my 97% winning rate. So you can see that I am a real person! No magic!

Except of their "fractals" they use indicators that you find in Ninjatrader. Moving averages, MACD, BuySellVolume (Barbara coded it for Ninja). Pivots very important for trading CL. They give us every day pivots for that day. It comes with the package and it helps a lot, they do it manually for their clients.
So of course they do not let you try their software. They do not want to let you know as you get their knowledge once, you can use it and you will not have to buy the course. You can watch all their videos and then never buy the course...

I have a checklist for my CL trades that Barbara gave me, and it works for months now.
Barrier (like a pivot or a fractal), long tail/wick on 1 min chart, MACD not going through centerline, V in the linreg 4, angle in the EMA 13, EMA 13 angle 45 degrees or less (comes with the software), number of ticks to EMA 13, be careful with SMA200, and several "fundamentals" to watch. Sounds simple, right? A kind of momentum-based bouncetrade from barriers. That is their countertrend strategy. Others play trend following strategy by using several indicators and moving averages. The core of their work is their "fractals" that means that they plot the tape on the chart and draw trendlines out of that. So you can see support and resistance.

I learned from Barbara many of the games that are played in the markets and of course the wants her clients to pay her seminar to learn that. No trial.

I was in so many chatrooms and there are not many traders that show you really their trading. They tell you that they scale in and out, but in fact you never know if they are in the trade or not. Many of them tell you hindsight that they were in the trade... (but only the winners). Barbara proved to me that she IS in the trade, as she was able to show it. You see her sim DOM, and sim because she says that a room moderator is distracted by multitasking. But you can follow. And yes, they go for very few ticks, but that works! I can tell you. I do not believe that any small lot trader makes money catching big trends. But for scalping really you can trade with this "system" and 1000 Dollar account and make money, then increase account size and trade more contracts.
I think that "experienced traders" tell so many lies to unexperienced traders about "trend trading". The unexperienced trader goes from chatroom to chatroom to find that magical head trader that helps him to turn a very small account into a large account by finding those mysterious big trends that they are able to catch. Then the unexperienced trader buys much software, indicators, books etc. to find that holy grail about catching the trend.

Again, shadowtraders do not pay me to write this here. But I found out that my "holy grail" is to take 3 ticks with each trade. That is the only way I make money, and I trade with a very small account that I doubeled already since october, and that is realistic for me! Shadowtraders for me is one of the companies that don`t tell you all those lies about get rich quickly, but they show you something that is so simple and you do not need that big account. You just follow some very simple and common rules. So of course they do not give you a trial of their software as this is their knowledge.

Yes, they tell you something about getting rich quickly if you double your contract size very often, and they sound very optimistic. Sometimes their optimism helped me a lot. I was very tired from hearing all the time "YOU NEED A 100 000 dollar account" and "IT WILL TAKE YOU YEARS" etc. Big guru words.

It took me years to find a simple system that I trade with a 1000 dollar account, yes, that is true, and I make my 50 to 100 dollars a day, and in holidays like chrismas of course I also had losses because of no liquidity. That is real trading live. I do not make money when markets do not move, that is true as well, and very often they do not move...

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  #25 (permalink)
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Berlin,Berlin
 
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I should add that they teach you a scalping system, that is it.
You have to pull the trigger on your own which is the biggest problem for most people.
They teach, but they do not have a daily chatroom where they show trades every day.

What are their "fractals"? Just the tape, plotted on the chart. This is why you need the bandwith and unfiltered data.

An experienced trader does not need their "newest 98% indicator". They just do that for their clients who love arrows up and down for trade entries. The experienced client trades with the first version of their software, I guess.

I use what I learned from them, and I make some money from scalping, that is it. I consider it as a good education. They do not pay me for this statement.

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  #26 (permalink)
Elite Member
Berlin,Berlin
 
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And: I changed from TradeStation to Ninjatrader and my favorite instrument is now the CL.

 
  #27 (permalink)
Elite, not Elitist :)
San Diego
 
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Interesting Trader2. How much are the stop losses? And I am not sure what you mean when you say the fractals are the tape plotted on the chart. Do the fractals mark the high volume areas or what on the tape?

Thanks!

 
  #28 (permalink)
Market Wizard
Philly, Pa
 
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trader2 View Post
I took shadowtraders course and several 4 day seminars.
I saw Barbara Cohen trade, and it was near 100 % . I never saw another trader trade live in front of others and every trade worked out. She is the only one I ever saw trading in front of others like this and with this perfection. She was on sim but I followed her with my live account. She has a broker licence and she is not allowed to show her life trading, but she can trade. On seminars she is allowed to show "education", so on seminars she is allowed to trade in front of others. She takes 3 ticks with a countertrend strategy on CL. I am doing the same, since october 2011 and since then I make money.
I am sorry to hear that the is scientologist, I did not know that. Are you sure? This is a shock for me.

Honestly, I bought many packages, but this one was the only one that helped me with my own trading.
I do not get money from them to write that in forums. I am just thankful for their help, as I tried so much.
I am also a member of fulcrumtraders. I am independent, just a private trader, a bit nervous and hesitant, scared money, etc.. My "gaptrades" on CL that I learned from Barbara make me money. I trade part time.
Today I made 3 trades on CL, each trade 3 ticks, 1 lot. I could have made more, but I want my 97% winning rate. So you can see that I am a real person! No magic!

Except of their "fractals" they use indicators that you find in Ninjatrader. Moving averages, MACD, BuySellVolume (Barbara coded it for Ninja). Pivots very important for trading CL. They give us every day pivots for that day. It comes with the package and it helps a lot, they do it manually for their clients.
So of course they do not let you try their software. They do not want to let you know as you get their knowledge once, you can use it and you will not have to buy the course. You can watch all their videos and then never buy the course...

I have a checklist for my CL trades that Barbara gave me, and it works for months now.
Barrier (like a pivot or a fractal), long tail/wick on 1 min chart, MACD not going through centerline, V in the linreg 4, angle in the EMA 13, EMA 13 angle 45 degrees or less (comes with the software), number of ticks to EMA 13, be careful with SMA200, and several "fundamentals" to watch. Sounds simple, right? A kind of momentum-based bouncetrade from barriers. That is their countertrend strategy. Others play trend following strategy by using several indicators and moving averages. The core of their work is their "fractals" that means that they plot the tape on the chart and draw trendlines out of that. So you can see support and resistance.

I learned from Barbara many of the games that are played in the markets and of course the wants her clients to pay her seminar to learn that. No trial.

I was in so many chatrooms and there are not many traders that show you really their trading. They tell you that they scale in and out, but in fact you never know if they are in the trade or not. Many of them tell you hindsight that they were in the trade... (but only the winners). Barbara proved to me that she IS in the trade, as she was able to show it. You see her sim DOM, and sim because she says that a room moderator is distracted by multitasking. But you can follow. And yes, they go for very few ticks, but that works! I can tell you. I do not believe that any small lot trader makes money catching big trends. But for scalping really you can trade with this "system" and 1000 Dollar account and make money, then increase account size and trade more contracts.
I think that "experienced traders" tell so many lies to unexperienced traders about "trend trading". The unexperienced trader goes from chatroom to chatroom to find that magical head trader that helps him to turn a very small account into a large account by finding those mysterious big trends that they are able to catch. Then the unexperienced trader buys much software, indicators, books etc. to find that holy grail about catching the trend.

Again, shadowtraders do not pay me to write this here. But I found out that my "holy grail" is to take 3 ticks with each trade. That is the only way I make money, and I trade with a very small account that I doubeled already since october, and that is realistic for me! Shadowtraders for me is one of the companies that don`t tell you all those lies about get rich quickly, but they show you something that is so simple and you do not need that big account. You just follow some very simple and common rules. So of course they do not give you a trial of their software as this is their knowledge.

Yes, they tell you something about getting rich quickly if you double your contract size very often, and they sound very optimistic. Sometimes their optimism helped me a lot. I was very tired from hearing all the time "YOU NEED A 100 000 dollar account" and "IT WILL TAKE YOU YEARS" etc. Big guru words.

It took me years to find a simple system that I trade with a 1000 dollar account, yes, that is true, and I make my 50 to 100 dollars a day, and in holidays like chrismas of course I also had losses because of no liquidity. That is real trading live. I do not make money when markets do not move, that is true as well, and very often they do not move...


The woman has never supported herself from trading and never will, because: a) she's not a trader, and b) her strategy is not scalable

she earns her living( not from trading) but by, selling a methodology that is geared toward the retail trader who seeks comfort, not profitability

if her methodology was so profitable, she would be trading it herself, not selling it,


Last edited by tigertrader; February 13th, 2012 at 08:03 PM.
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  #29 (permalink)
Elite Member
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trader2 View Post
She has a broker licence and she is not allowed to show her life trading, but she can trade.



Thank you for the comments, but I am curious where you heard this regulation?

 
  #30 (permalink)
 Vendor: www.traderwerks.com 
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bluemele View Post
Thank you for the comments, but I am curious where you heard this regulation?

She has a Series 3 and Shadowtraders are a registered CTA.

I still haven't heard of a rule where you can sim trade and cannot trade a real account.

Math. A gateway drug to reality.

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