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The Electronic Local method


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The Electronic Local method

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  #1 (permalink)
 cunparis 
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Update Jan 4 2011: I and several others have spent time researching this guy and we've concluded that there is nothing of substance there. We can't find anything useful at all and certainly nothing to pay thousands of dollars for. I write this so that others may avoid wasting their time trying to figure out what this guy is doing. Proceed at your own risk and keep your wallet close to you at all times.

I'm only briefly familiar with this guy but from what I've read he's very highly regarded. The basic idea is he is an older pit trader and is now trading on his own. He started his blog when his 25 year old daughter asked him to teach her how to trade.

You can visit his blog here:

https://electroniclocal.blogspot.com/

And this past weekend he did a webinar which you may download here in 2 parts (get both):

ElectronicLocal Pt 1
ElectronicLocal Pt 2

I just found him last week so if you're familiar with him & his method please feel free to lead the discussion.




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 timefreedom 
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There are some interesting posts on his blog... one where he extols the virtues of watching 1 chart, 1 timeframe and not getting confused by using multiple time frames for example. But I attended the webinar and, like most webinars, it was mostly a waste of time. Unless something magical happened during the last few minutes of the session, most of what was discussed was very basic, very generic and not particularly beneficial to anyone who has been trading for awhile. For example, he doesn't provide any of (apparently) 18 different setups that he has for entering the market. Rather, he suggests that each trader find his / her own setups. I'm not saying that is bad advice - but I doubt if he told his daughter to find her own setups. Another gem is to be sure you have enough money in your account before you start trading or else you'll probably lose it. Again, I'm not saying that is bad or wrong advice, just that if you don't know that, you're probably not ready to trade anyway. His take on exits is pretty vague too. He likes to scale out in increments of 3 but where to scale is not disclosed. From studying the trades on the blog, you'll see that sometimes trades are exited at his outer Keltner, sometimes at Market Profile areas of significance (value area highs / lows and poc's for example), and sometimes the exits seem to be primarily discretionary. I love the premise of the blog - follow along while a legitimate and successful trader teaches his daughter how to trade. But from reading the blog and attending the webinar, I didn't pick up too much that seems trade-worthy.

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 cunparis 
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timefreedom View Post
I love the premise of the blog - follow along while a legitimate and successful trader teaches his daughter how to trade. But from reading the blog and attending the webinar, I didn't pick up too much that seems trade-worthy.

Now I'm concerned. I looked at his blog briefly and I kind of had the same impression but I thought it was just due to me not having read the entire blog.

So are you saying that he doesn't give some setups in his blog? If not then I think I will skip it.

I understand about exits being discretionary, but he could at least give some guidelines. I usually decide in advance when I'm going to exit, it can be different for each trade, but I try to think of what would cause me to exit and what would not cause me to exit. It'd be good if he listed criteria like that, like when to exit on a keltner band and when to exit on the MP thingie.

Thanks for sharing your impressions.

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 zikonc 
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throughout his blog he is emphasizing a lot the use of market context.....he says that understanding the market context allows him to pick and choose what trades he takes, which makes sense.......in my opinion, he should spend more time explaining how is he evaluating market's "big picture" because one could perhaps get clues from his screen captures what are entry and exit triggers...but in general I find his blog informing.....on the other hand i am not sold at the moment on market delta since NT can reproduce the same information and add more if needed.....I did not feel guilty spending 2 evenings going though all his posts

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 Jeff Castille 
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I listened to the webinar and thought it laid a very nice foundation for his daughter or any beginning trader. I particuliarly like the fact that he told all of the beginners that 90% of people who attempt trading fail. Hopefully drawing attention to this fact will give aspiring traders pause........

So, did anyone notice his momentum dots ?????? Are there any bright programmer types that are intrigued enough to want to take a shot at them??? I can't find anything like them on the Ninja forum or on futures.io (formerly BMT).

Several other points of interest.......he likes range bars....the 33 ema.....the 99 ema and of all things the CCI. My interest in the CCI indicator was recently rekindled by Ben Harrell on his CL thread. It's interesting that he uses a 45 and 6 setting on the CCI and makes a point of saying that he doesn't know anyone who uses the CCI like "Woodie" and makes any money. So, his use of the CCI is unique. Of course volume played a very big role with the cumulative delta and market profile.

There is no way this guy is going to teach thirty years of trading experience in one webinar.....or even two or three. I'm sure that this process is just starting and will yield a tremendous amount of information over time. All in all......a nice start.

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insideday
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Jeff Castille View Post

So, did anyone notice his momentum dots ??????

He says it is the Drummonds PLDot.
So it is a 3 bars SMA of (h+l+c)/3 forwarded one bar.

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  #7 (permalink)
insideday
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For TS it it
 
Code
variables:
 PLDot( 0 ),
 HLC_Avg( 0 ) ;

HLC_Avg = ( High + Low + Close ) / 3 ;
PLDot = Average( HLC_Avg, 3 )  ;

Plot1[-1](PLDot,"PLDot") ;

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 eDanny 
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Here is my quick take on this indicator. It repaints only if plots are changed to lines. Enjoy.

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 cory 
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Jeff Castille View Post
I... My interest in the CCI indicator was recently rekindled by Ben Harrell on his CL thread. It's interesting that he uses a 45 and 6 setting on the CCI and makes a point of saying that he doesn't know anyone who uses the CCI like "Woodie" and makes any money. So, his use of the CCI is unique. Of course volume played a very big role with the cumulative delta and market profile.

There is no way this guy is going to teach thirty years of trading experience in one webinar.....or even two or three. I'm sure that this process is just starting and will yield a tremendous amount of information over time. All in all......a nice start.

45 is almost 50 of DrBob I suspect we can merge several CCI methods into one.

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 Jeff Castille 
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cory View Post
45 is almost 50 of DrBob I suspect we can merge several CCI methods into one.



I do believe that you are correct........here's my take on the basic "Electronic Local" set up. The CCI is tweaked as a histogram and paintbar study. I just paid a programmer $ to create this for me so I will not be giving it away.

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 cory 
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electro inspired screen

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 cunparis 
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Jeff Castille View Post
I just paid a programmer $ to create this for me so I will not be giving it away.

I just want to point out that a lot of people "pay" in time instead of money for indicators and still share them with everyone else.

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 subterfuge 
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MomDots - (HI.2+LO.2+CL.2)/3 + (HI.4+LO.4+CL.4)/3 + (HI.3+LO.3+CL.3)/3)/3;

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 cory 
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subterfuge View Post
MomDots - (HI.2+LO.2+CL.2)/3 + (HI.4+LO.4+CL.4)/3 + (HI.3+LO.3+CL.3)/3)/3;

HI.2 = look at previous high or look at previous high of 2 bar back?

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 eDanny 
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I would think (High[2] + Low[2] + Close[2]) / 3

Using 1, 2, and 3 bars back would be like using CurrentBar, 1 and 2 bars back and then displacing by one bar. Correct?

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 cory 
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drumon is pretty old school I don't think they had current bar data available imm back then.

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 Jeff Castille 
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Electronic Local has posted the ninja version of their indicators on their blog. This includes the code for the momdots.

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 cory 
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there is no momdot only buy/sell vol using GomCD package in there

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 Jeff Castille 
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cory View Post
there is no momdot only buy/sell vol using GomCD package in there


MomDots(HI.2+LO.2+CL.2)/3 + (HI.4+LO.4+CL.4)/3 + (HI.3+LO.3+CL.3)/3)/3;

Here is the code that is posted on the Electronic Locals Blog under charts and settings

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 Jeff Castille 
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cory View Post
there is no momdot only buy/sell vol using GomCD package in there

Hey Cory......I can't seem to open or download this file. What is on it?

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 eDanny 
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What datafeed are you using Jeff?

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 cory 
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I double clicks on it and it saves into my pc just fine it is ninja zip file posted on his blog it chart his buy/sell vol indicator middle panel.

------------------
a quick consult with other source;
>The PL dot is nothing more than a 3 day moving average of High,Low and Close moved forward in time by one bar.

and there was some debate on live dot vs history dot
https://drummondgeometry.com//docs/pdf/new_concepts.pdf

so I guess either last 3 bars or last 2 + current one will do.

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 Jeff Castille 
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eDanny View Post
What datafeed are you using Jeff?

zen fire........

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 Jeff Castille 
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cory View Post
I double clicks on it and it saves into my pc just fine it is ninja zip file posted on his blog it chart his buy/sell vol indicator middle panel.

------------------
a quick consult with other source;
>The PL dot is nothing more than a 3 day moving average of High,Low and Close moved forward in time by one bar.

and there was some debate on live dot vs history dot
https://drummondgeometry.com//docs/pdf/new_concepts.pdf

so I guess either last 3 bars or last 2 + current one will do.

I keep getting that it contains no ninja script files.

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 Jeff Castille 
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eDanny View Post
What datafeed are you using Jeff?

In comparing your chart to mine I see the discrepancy. I assume your cci is set to 45/6?

.....nice work.

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 cory 
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you have your browser refuses to download zip file I bet, anyway here they are.

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 Jeff Castille 
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cory View Post
you have your browser refuses to download zip file I bet, anyway here they are.


That did the trick !! Thanks Cory.

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 eDanny 
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Jeff, I am using Zen also and CCI 6 and 45. I hate it when things look totally different, as if one of us is using eSignal data.

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 Jeff Castille 
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eDanny View Post
Jeff, I am using Zen also and CCI 6 and 45. I hate it when things look totally different, as if one of us is using eSignal data.

LOL......... did you use the formula posted on the electronic locals blog for your dpl dots?

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 eDanny 
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Jeff Castille View Post
LOL......... did you use the formula posted on the electronic locals blog for your dpl dots?

No I used the TS code posted earlier in the thread when I first made the indicator, post #6 and #7.

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 zt379 
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cory View Post
you have your browser refuses to download zip file I bet, anyway here they are.

Hoping anyone can assist.
I also get "file doesn't contain any Ninja Script" whether I download the zip that you posted or direct from the ELocal blog site.

I am able to download other zip files : ie the DPLDot that was kindly posted here.

Also, your post#18 says the EL zip contains the GomCD package, and then your post#26 say they are NT Buy/sell indicators.
??

I already have the GomCD but can't get it to display as per ELocal.
I already also have the 3 Buy/Sell NT indi's you posted but they do not display asper ELocal.

Can anyone suggest what I'm doing wrong?
thx..

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 cory 
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it is real time inicator you may have to wait until tomorrow.

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 zt379 
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cory View Post
it is real time inicator you may have to wait until tomorrow.

Thx for the reply.

I have data (yes real time in sense you need to be connected to NT because there is no "back fill")
I meant the way the NT indicators are plotting..see attached (green and red Buy/sell indi).
I've also attached a GomCD equivalent (it's close to Elocal's but it's not plotting correctly at the zero line)

Also, as I said, I'm not sure why the Elocal zip is empty when I download it?
These are running with NT and Zen fire data.
Can any one post a chart if they have downloaded the Elocal zip ?

Thx

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 cory 
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I feel your pain it's hard to function in the electronic age, ok here is what going on, the zip file is not ninja zip it is just a reg zip file, that is why ninja says it's empty, inside it there are gom ninja zip and buy/sell vol ninja zip, with me so far? so unzip it into 2 zip files using your regular zip software then ninja import as usual.

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 Zondor 
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Fortunately the Electronic Local indicators include the GOMCD package, and that includes an indicator that shows the delta and the total volume for each bar.

But EL also includes the two-year old Ninjatrader buy sell volume indicators, which can easily be, but have not been, integrated to work with GOMCD to give persistable data.... Until I did it a few weeks ago.

So if anyone would like me to post the Buy Sell Volume Total GCD, which DOES refresh historical data and DOES NOT go blank every time you touch the chart, please let me know! It cam easily be tweaked to display the data in all the other various ways that the BBSV Ninja indicators do.

Also suggest that anyone reading this thread look at the threads about trading price and volume, because we are on the same page as Electronic Local -- watching the ORDER FLOW.

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 zt379 
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Quoting 
I feel your pain it's hard to function in the electronic age, ok here is what going on,
the zip file is not ninja zip it is just a reg zip file, that is why ninja says it's empty,
inside it there are gom ninja zip and buy/sell vol ninja zip, with me so far?
so unzip it into 2 zip files using your regular zip software then ninja import as usual.

Cory, thx, yes I'm with you now, although I wouldn't have got there alone, thx.
Personally data mining takes on a whole new meaning.


Zondor View Post
Fortunately the Electronic Local indicators include the GOMCD package,
and that includes an indicator that shows the delta and the total volume for each bar.

Hopefully the GOMCD will display correctly?
The snapshot I attached before shows a problem of over shooting the zero line.


Quoting 
But EL also includes the two-year old Ninjatrader buy sell volume indicators,
which can easily be, but have not been, integrated to work with GOMCD to give persistable data....
Until I did it a few weeks ago.

I couldn't get the NT B/S Vol indi's
to display as a histogram in the same way as ELocal.

Quoting 
So if anyone would like me to post the Buy Sell Volume Total GCD, which DOES refresh historical data
and DOES NOT go blank every time you touch the chart, please let me know!
It cam easily be tweaked to display the data in all the other various ways that the BBSV Ninja indicators do.

.. you don't have to ask.
Excellent Zondor, please yes, post them.
You'll turn my alexia into elixir of GOM.

Quoting 
Also suggest that anyone reading this thread look at the threads about trading price and volume,
because we are on the same page as Electronic Local -- watching the ORDER FLOW.

What initially felt like a road less travelled, turns out to be full of excellent company.
Really appreciate the replies and look forward to the GOM with persistance.
All hail Zondor.
"Zondor the Great"
Cheers

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 gregid 
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Zondor View Post
So if anyone would like me to post the Buy Sell Volume Total GCD, which DOES refresh historical data and DOES NOT go blank every time you touch the chart, please let me know! It cam easily be tweaked to display the data in all the other various ways that the BBSV Ninja indicators do.

Thank you Zondor


The answer is: Yes, please!

I will gladly welcome the Buy Sell Volume Total and the DOM_Bands with Gomi Recorder implemented. Can you also confirm they are NT7 compatible?

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  #38 (permalink)
 Zondor 
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I will post this in the VIP Section soon. It will work for 6.5 or7.0.

The DOM Recorder Indicator will have to wait a while. This will be a much more ambitious project.

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 lolu 
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Zondor View Post
I will post this in the VIP Section soon. It will work for 6.5 or7.0.

The DOM Recorder Indicator will have to wait a while. This will be a much more ambitious project.

Zondor,

Have a look at this BidAskHistVolume indicator here, which I have been using for sometime now. It paints the Total/History volume color on a Volume Up/Down basis, in addition to plotting/painting the Buy and Sell volume.

For example, if the Buy volume is greater than the Sell volume (in this case, the Buy volume color will overwhelm the Sell volume color), the Total/History volume - Up, must be showing the Volume Up color in order to have a perfect sync with the Buy volume. If this sync is not conformed to, then there is a distortion in price movement/action (this has been my personal observation).

Your BuySellVolumeTotalGCD paints the Total volume in just one color of one's choice. If you can add the feature of plotting/painting the Total volume based on Up/Down basis, this may give a little additional information in trading/decision-making.

Lolu

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 Zondor 
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Lolu, you make a good point. Now, on the BuySellVolumeTotalGCD you can only tell whether the total volume is net up or down based on whether the buy volume or the sell volume is larger.

It's easy to add the feature you asked for. I will do that within the next few days.

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  #41 (permalink)
 Braulio 
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EL is providing training on his methodology through this link:

ElectronicLocal Trader Training: Welcome to the Electroniclocal Training Sign-Up Page

Is there anyone interested in this?

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 Prtester 
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Braulio View Post
EL is providing training on his methodology through this link:

ElectronicLocal Trader Training: Welcome to the Electroniclocal Training Sign-Up Page

Is there anyone interested in this?

Look he finally show the color of the skin, and looks like a snake.

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  #43 (permalink)
 cunparis 
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Prtester View Post
Look he finally show the color of the skin, and looks like a snake.

I have never found anything of substance on his blog. I've taken a quick look a few times. Everything is so vague. No details. Just rambling. I just skimmed some of the key posts and there is no useful content there at all. I never understood his method or what he does, he never described his setups. I really don't get this guy. Either he doesn't want to share it publicly or he has no method. All this CCI stuff I don't get. I think i've talked more about order flow in my journal than he has.

I sure wouldn't spend $5k on it but I bet he's got a line of takers a mile long. We'll see when the course is over what they thought of it.

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 Braulio 
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Prtester View Post
Look he finally show the color of the skin, and looks like a snake.

I'm not EL but wish I had his trading skills.


cunparis View Post
I have never found anything of substance on his blog. I've taken a quick look a few times. Everything is so vague. No details. Just rambling. I just skimmed some of the key posts and there is no useful content there at all. I never understood his method or what he does, he never described his setups. I really don't get this guy. Either he doesn't want to share it publicly or he has no method. All this CCI stuff I don't get. I think i've talked more about order flow in my journal than he has.

I sure wouldn't spend $5k on it but I bet he's got a line of takers a mile long. We'll see when the course is over what they thought of it.

You can see one of his setups here:
Electronic Local: Setups or Upsets

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 cunparis 
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Braulio View Post
I'm not EL but wish I had his trading skills.



You can see one of his setups here:
Electronic Local: Setups or Upsets

I just read that post. Have you tried it?

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 Braulio 
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cunparis View Post
I just read that post. Have you tried it?

I'm trying not only that setup in particular but order flow in general with just one chart.
As you might know I also learned a lot from you, I quoted some of your posts on your Market Cycles For Fun & Profit thread.

But I feel more comfortable trading one chart, one timeframe, range bars. I also use Market Profile and the volume ladder when I want to look inside the candle.

Here are my trades made yesterday, 11/06/2010:



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  #47 (permalink)
 cunparis 
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Braulio View Post
I'm trying not only that setup in particular but order flow in general with just one chart.
As you might know I also learned a lot from you, I quoted some of your posts on your Market Cycles For Fun & Profit thread.

But I feel more comfortable trading one chart, one timeframe, range bars. I also use Market Profile and the volume ladder when I want to look inside the candle.

Here are my trades made yesterday, 11/06/2010:



Whenever I see someone post a "setup" I like to investigate it. See if I can find value in it or if the person just cherry picked a great example. I used to do this a lot but as I got settled in to my methods I lost interest in doing it. I'm just curious if anyone has tried it.

His blog was always weird to me because it was supposed to be about teaching kiki to trade but I didn't find anything useful in the key posts I read that would teach someone anything. But that's just me, maybe others find value in it.

You raise a good point with one chart & one timeframe. I'm currently investigating this myself. Well I need two charts so I can use a volume ladder. The problem with multiple timeframes is there is usually a timeframe that is not in agreement with the others and that makes me second guess myself. Say 2/3 are bearish but the one in between those is bullish. Confusing. However when all timeframes line up it can make a really trade setup. In my charts I have that right now with the daily, 135min, & 15min all signaling bearish cycles. However the 45min is bullish!

So I'm experimenting by trading Eurostoxx & Euro with one tick chart. Wait, my POT indicator has its own chart too cause it needs a fast chart. But that doesn't count because it's time-frame independent (gives same signals on any timeframe).

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  #48 (permalink)
 Prtester 
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cunparis View Post
Whenever I see someone post a "setup" I like to investigate it. See if I can find value in it or if the person just cherry picked a great example. I used to do this a lot but as I got settled in to my methods I lost interest in doing it. I'm just curious if anyone has tried it.

His blog was always weird to me because it was supposed to be about teaching kiki to trade but I didn't find anything useful in the key posts I read that would teach someone anything. But that's just me, maybe others find value in it.

You raise a good point with one chart & one timeframe. I'm currently investigating this myself. Well I need two charts so I can use a volume ladder. The problem with multiple timeframes is there is usually a timeframe that is not in agreement with the others and that makes me second guess myself. Say 2/3 are bearish but the one in between those is bullish. Confusing. However when all timeframes line up it can make a really trade setup. In my charts I have that right now with the daily, 135min, & 15min all signaling bearish cycles. However the 45min is bullish!

So I'm experimenting by trading Eurostoxx & Euro with one tick chart. Wait, my POT indicator has its own chart too cause it needs a fast chart. But that doesn't count because it's time-frame independent (gives same signals on any timeframe).

I make an auto system in MD with his "system" a while back, once in a while make good trades, the rest of the days is when he change markets until found good trades in any, hehe. too much red for my taste.

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 Bankrobber 
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Is anyone signed up for this course? $5K quite alot of cash. Would be interesting peoples experience attending this course

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  #50 (permalink)
 Braulio 
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cunparis View Post
Whenever I see someone post a "setup" I like to investigate it. See if I can find value in it or if the person just cherry picked a great example. I used to do this a lot but as I got settled in to my methods I lost interest in doing it. I'm just curious if anyone has tried it.

His blog was always weird to me because it was supposed to be about teaching kiki to trade but I didn't find anything useful in the key posts I read that would teach someone anything. But that's just me, maybe others find value in it.

You raise a good point with one chart & one timeframe. I'm currently investigating this myself. Well I need two charts so I can use a volume ladder. The problem with multiple timeframes is there is usually a timeframe that is not in agreement with the others and that makes me second guess myself. Say 2/3 are bearish but the one in between those is bullish. Confusing. However when all timeframes line up it can make a really trade setup. In my charts I have that right now with the daily, 135min, & 15min all signaling bearish cycles. However the 45min is bullish!

So I'm experimenting by trading Eurostoxx & Euro with one tick chart. Wait, my POT indicator has its own chart too cause it needs a fast chart. But that doesn't count because it's time-frame independent (gives same signals on any timeframe).

I tried your trading style for a while but for me it was too much information to be looking at, too many charts and, like you said, too many "if's". I like the "simple is better" way of doing things and that's why I'm trying EL's setup and I like it.

His blog turned out to be something else than just teaching Kiki, as I believe Kiki reached CP after a few months and EL continues on posting his "business as usual" trades like he did since the beginning. She's a programmer and they are developing an automated trading method so you can also see some posts and trades about this.

About finding anything useful on his posts, he's not hiding anything and everything you need is on the blog. All the setups are there, you just have to put in the work and look at all the charts. I did it, it takes A LOT of your time but I found them. And most important, I made them my own, with my own analysis and by trying them LIVE and SIM.

He believes that to become a trader you have to "put in the work" and that's why he doesn't just give you setup's. But they're all there.

About the charts:
I use an MP chart for context (support/resistance) and another for the ladder (VPOC/order flow), which is my microscope. But I spend most of my time looking at the range bars as they eliminate most of the "noise". I also look at candlestick patterns like the "hanging men" or the "hammer" for price acceptance/rejection.

Here's my Friday trades (nr3 was horrible):

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  #51 (permalink)
 Braulio 
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Bankrobber View Post
Is anyone signed up for this course? $5K quite alot of cash. Would be interesting peoples experience attending this course

Yes, I would like to see that too and I agree $5k is a lot. I'm not signed up but would be willing to go with someone else although that might not be easy to accomplish. I also think he will be providing his recorded videos at a different prince.

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  #52 (permalink)
 fiki 
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I have to agree with Prtester and CP.

I´ve read the entire blog twice including the comments. The was nothing there but the a simple moving average setup and like Prtester wrote, on some days it rocks (trendish days) and on other days it sucks. Instead of showing the days that suck he post the setups in a different market where it worked.

He talks alot about orderflow. But what is orderflow? The skill to "forcast" based on how orders enter the market. So what tools does he use?

33/99 MA = Pure price action
Mom dots = pure price action
CCI = Pure price action
Rangebars = Pure price action
Delta = bid/ask
Cum delta = bid/ask

Where is the volume and the time component?

Lets start with combining delta with rangebars, what does it tell u? If price moves up and positive delta is increasing on the move up, is that bullish or breash? EL says bullish but i dont agree all the time. It shows it takes more and more effort to move price a certain amount of ticks (rangebar). More effort but less effect means more limit sellers entering the market. Thats why many times, his "perfect setups" are good fades or at least u can expect a nice pullback before they take off.

Second "orderflow" tool is a 9 moving average of cum delta. Imo that is not reading orderflow. That is a derivat of orderflow. U manipulate the market generated data to get your signals.

I backtested this "system" a lot and even traded it with real money. And it does not have a high winrate at all. And it constantly takes 1-2p heat before it takes of, IF it takes of (the reason is the exhaustion u get when the entry is triggered). Backtesting it I got the same result just using rangebars, 33 sma and the slope of the sma for direction...

I´m sure his goal has been to generate enough interest in his blog to get customers for his expensive education. And he did a great job there. He started blogging just in october 2009 and then started writing about his blog on some forums i follow.

He offers a 90 day education and mentoring service for 5000 usd. That kind of commitment takes a lot of time away from his trading. If he is a pro trader that almost never misses like he claims, why not just put on a 100 lot and make real money during this time? There are just to many things not adding up for me to beleive he even is profitable.

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  #53 (permalink)
 Braulio 
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fiki View Post
I have to agree with Prtester and CP.

I´ve read the entire blog twice including the comments. The was nothing there but the a simple moving average setup and like Prtester wrote, on some days it rocks (trendish days) and on other days it sucks. Instead of showing the days that suck he post the setups in a different market where it worked.

He talks alot about orderflow. But what is orderflow? The skill to "forcast" based on how orders enter the market. So what tools does he use?

33/99 MA = Pure price action
Mom dots = pure price action
CCI = Pure price action
Rangebars = Pure price action
Delta = bid/ask
Cum delta = bid/ask

Where is the volume and the time component?

Lets start with combining delta with rangebars, what does it tell u? If price moves up and positive delta is increasing on the move up, is that bullish or breash? EL says bullish but i dont agree all the time. It shows it takes more and more effort to move price a certain amount of ticks (rangebar). More effort but less effect means more limit sellers entering the market. Thats why many times, his "perfect setups" are good fades or at least u can expect a nice pullback before they take off.

Second "orderflow" tool is a 9 moving average of cum delta. Imo that is not reading orderflow. That is a derivat of orderflow. U manipulate the market generated data to get your signals.

I backtested this "system" a lot and even traded it with real money. And it does not have a high winrate at all. And it constantly takes 1-2p heat before it takes of, IF it takes of (the reason is the exhaustion u get when the entry is triggered). Backtesting it I got the same result just using rangebars, 33 sma and the slope of the sma for direction...

I´m sure his goal has been to generate enough interest in his blog to get customers for his expensive education. And he did a great job there. He started blogging just in october 2009 and then started writing about his blog on some forums i follow.

He offers a 90 day education and mentoring service for 5000 usd. That kind of commitment takes a lot of time away from his trading. If he is a pro trader that almost never misses like he claims, why not just put on a 100 lot and make real money during this time? There are just to many things not adding up for me to beleive he even is profitable.

Fiki,

I'm still testing it and I read his blog everyday but he always posts on the ES, only sometimes he posts the 6E.

As you might know he uses market profile, so that fits the "time" component. The "Delta" is volume, the same as the Volume Breakdown indicator on Market Delta.

I also use volume with MP:

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  #54 (permalink)
 fiki 
sweden
 
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Braulio,


I found his blog end of last year after I read one of his posts on Trader Laboratory urging people to take a look at his blog where he was teaching his daughter to trade. And even I that first post he added “nothing for sale”. A mantra he has repeated over and over again until he did have something to sell.

I don’t know. I work in the business and it has made me a skeptic to stuff like this. I see traders and fund managers on a daily basis. And let me tell u, the world of finance is a shady world. I´m the compliance guy, so I know. When our telemarketing calls potential clients they always start off with: we have “nothing for sale”, we are trying to help you.

When it comes to him flipping the markets, I´ve seen it many times. As I have seen him “skip” perfect setups but taking the next crappy one that ended up as the winner.

But it doesn´t matter. If your found his blog helpful and you are now making winning trades, then all is good. But I would be cautious before paying 5000usd for his wisdom.

Btw, for me delta is not volume. It shows me more direction of trade and conviction. Since it is buyers-sellers it can be 0 even if total volume is huge.

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  #55 (permalink)
 Braulio 
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Fiki,

you have a point and I agree that it's a little suspicious and I'm not in this business as much as you are.

I also agree that he doesn't share much and I've also said it to him directly but he always gives the same answer: "everything you need is on the blog, you just have to put in the work". And it seems like we both did the work! How did you backtest it?

For the last few months he posts only ES trades, on trend days and on choppy days too, so I have to disagree with you flipping markets theory.

Many people have the same opinion we do and everything can be questionable.

One last thing, "delta" and "total" are both based on volume but yes, delta shows you more direction and conviction.

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Richard
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Braulio View Post
"everything you need is on the blog, you just have to put in the work".

Great, so no need for a $5k class then. Sounds good.

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  #57 (permalink)
 bluerosetc 
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I also used to follow his blog until he posted something about his father having created a winning roulette system. When someone questioned this, he went on defending it in the comments by telling how he believes money managment can provide an edge where no edge exists.

Its funny how this shows how he clearly has no clue about money mangment as all such systems in roulette would just be taking a lot of small wins until you ultimately blow up.

Also if anyone have seen his long term investment blog, he has a system which is based on "the statistic that 90% or so of options expire worthless." If I had to guess this system would be pretty close to his dads roulett system, lots of small gains before the big loss.

Tried to ask for any kind of proof that he was actually a profitable trader, but he just ignored me.

Would never waste any time on his training even if it was free and hate myself for all the time I have spent trying to figure out his "setups".

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Travelergcp
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If his posted results are accurate (multiple points per day with very little drawdown) he could quickly earn millions of dollars trading 50-100 contracts per trade. Who would bother to do training for cash if they had those kind of results? Anyone in that position that still wanted to give something back would have the trainees send their 5k *directly* to charity.

Something just doesn't add up. It reminds me of the Jack Hershey threads on Elitetrader. A very seductive pitch for discretionary trading in the index futures without any real substance to back it up.

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 cory 
the coin hunter
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Travelergcp View Post
...

Something just doesn't add up. It reminds me of the Jack Hershey threads on Elitetrader. A very seductive pitch for discretionary trading in the index futures without any real substance to back it up.

since I taught the method and one of my student uses it to make a living. The student had no prior trading experience and has no other source of income, I found your statement is without merit.

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 Fat Tails 
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I saw this post on the Electronic Local Blog as well. Obviously, you cannot create a winning roulette system without cheating, as the casino always has an edge. If somebody else has an edge you should not bet, and no money management system in the world can help you here. Actually if you do not have an edge

- the best thing is not to bet,
- the second best thing is to bet all at once, and if you are lucky you win, although the probability is < 50%,
- the worst thing is any money management system that keeps you in the game for a longer time, because the longer you play, the higher the probability to lose it all!

So Tom is terribly wrong with his application of money management to roulette. But this mistake is no proof that his trading approach does not work. Actually, I like some elements of his trading style

- his charts are not clustered, but he has just two moving averages
- he uses two CCIs as trend filters
- he looks at bid and ask traded volume
- he looks at Keltner Channels to avoid "Greater Fool Trades"
- he takes a few trades per day only

All this makes sense.


bluerosetc View Post
I also used to follow his blog until he posted something about his father having created a winning roulette system. When someone questioned this, he went on defending it in the comments by telling how he believes money managment can provide an edge where no edge exists.


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  #61 (permalink)
 nqcruiser 
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fiki View Post


I found his blog end of last year after I read one of his posts on Trader Laboratory urging people to take a look at his blog where he was teaching his daughter to trade.

I will treat wisdom offered by posters parading themselves as innocent traders on Traders Laboratory with extreme caution, care and a little bit of suspicion. threads are started as informercials for various websites and people r out to catch the 'little man or woman', who appreciate the philantropic ambitions of contributors. I posted extensively on the VSA related threads but much of what exist there, is a means to an end i.e. to rob u of your hard earned cash by paying for training course or system or tradingroom.

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  #62 (permalink)
 dk27 
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Now ELs training is 10K, I remember he said he will never do it again

ElectronicLocal Trader Training: ELTraining Prices

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  #63 (permalink)
 Braulio 
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cory View Post
since I taught the method and one of my student uses it to make a living. The student had no prior trading experience and has no other source of income, I found your statement is without merit.

Is he a user here/blog/journal? Could be interesting to get his feedback and share his experience.

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  #64 (permalink)
 cory 
the coin hunter
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Braulio View Post
Is he a user here/blog/journal? Could be interesting to get his feedback and share his experience.

its she and no, she is busy concentrating on making a living and growths her account beside there are thousand of pages already posted, every conceivable questions had been asked and answered. There is no use in rehashing the method here or anywhere but somehow somewhere someone will try.

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  #65 (permalink)
 traderwerks 
Taipei Taiwan
 
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cory View Post
since I taught the method and one of my student uses it to make a living. The student had no prior trading experience and has no other source of income, I found your statement is without merit.

Do you trade his method also ?

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  #66 (permalink)
 cory 
the coin hunter
virginia
 
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traderwerks View Post
Do you trade his method also ?

I am much better a teacher than a trader its no coincident that all my student were females. I suffer from common male afflictions, over committed to my entry, wanted to be right, aggressive in my dominant stand etc... but thing works out in the end I will continue in my pursuing of a perfect trade with a perfect indicator and the best student will take over my account, a win-win situation all around.
ps. yes I trade Jack's method and then some (can't help myself there).
pss. more on male affliction https://www.thetimes.co.uk/

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  #67 (permalink)
 Braulio 
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cory View Post
its she and no, she is busy concentrating on making a living and growths her account beside there are thousand of pages already posted, every conceivable questions had been asked and answered. There is no use in rehashing the method here or anywhere but somehow somewhere someone will try.

I suspect that's exactly the purpose of this thread...but thanks anyway.

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 Bankrobber 
manchester
 
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A little like EL Blog then - very elusive answers once again

Thanks for nothing

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  #69 (permalink)
gdavid1977
Bern
 
 
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Ok, I had to post this. I've followed the touted EL blog for a couple of months. Bellow a few thoughts on it.


Why this could be true:
- He is tired of trading and wants to get another type of income or use leverage
- He likes to teach more than to trade
- It makes sense, I think (without proof) that his method could be put to work. I mean not just the technical trading, but the whole learning method.
- The money is needed for the disease, the money from trading wouldn't be enough.
- He donates money to charity and want to increase his donations without taking a cut on his income


Why this could be a fake:
- No one knows him, no one knows any student who learned from him and is now making money
- Even if he is successful as a trader, there is no guarantee that he can transfer his know how.
- I found small "details" on the blog, we wouldn't bother to answer them, a couple of comments weren't published. No proof, though.
- Looking only at the outer aspect, you can't tell if it's a fake or not. It is the same site selling something. I must admit I am overly cautious on someone selling things.


Neutral considerations:
- The price of training class and now of DVDs is well researched. I found methods, DVDs, classes that ask the same amount. He is about to start a new business, quite different from trading.
- I did a small research on the selling company. Perhaps just a coincidence, a London based company with the same name was closed a few years ago.

On the data I have I couldn't reach any definitive conclusion...

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  #70 (permalink)
MotoMoto
Australia (ex UK)
 
 
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Regards EL - I have followed the blog, and I think he offers good advice on the blog - ultimately that you need to put in the hard yards, develop a personal method (even if its based on someone else's - I mean is anything really that new?) and so much of what he is teaching is about discretion, and feel.

so for me, regardless if its for real or not, and to me this applies to a lot of trading seminars.....
its too expensive.

A CFA exam is probably just as time consuming, will teach you a lot and is more likely to have a higher payoff for the majority of people. And its cheaper.

There is enough free info to learn first.

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  #71 (permalink)
 colin 
nowhere
 
 
Posts: 1 since Aug 2010


gdavid1977 View Post
Ok, I had to post this. I've followed the touted EL blog for a couple of months. Bellow a few thoughts on it.


Why this could be true:
- He is tired of trading and wants to get another type of income or use leverage
- He likes to teach more than to trade
- It makes sense, I think (without proof) that his method could be put to work. I mean not just the technical trading, but the whole learning method.
- The money is needed for the disease, the money from trading wouldn't be enough.
- He donates money to charity and want to increase his donations without taking a cut on his income


Why this could be a fake:
- No one knows him, no one knows any student who learned from him and is now making money
- Even if he is successful as a trader, there is no guarantee that he can transfer his know how.
- I found small "details" on the blog, we wouldn't bother to answer them, a couple of comments weren't published. No proof, though.
- Looking only at the outer aspect, you can't tell if it's a fake or not. It is the same site selling something. I must admit I am overly cautious on someone selling things.


Neutral considerations:
- The price of training class and now of DVDs is well researched. I found methods, DVDs, classes that ask the same amount. He is about to start a new business, quite different from trading.
- I did a small research on the selling company. Perhaps just a coincidence, a London based company with the same name was closed a few years ago.

On the data I have I couldn't reach any definitive conclusion...


someone i know would wish he had read your post before he signed up

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  #72 (permalink)
 dk27 
Europe
 
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Colin,

could you please say more what is his/her experience.

Thanks.

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  #73 (permalink)
 Braulio 
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colin View Post
someone i know would wish he had read your post before he signed up

As I understood, this someone signed and is still training with EL, correct? "He" would be very welcome to post his experience here, it would enlighten us all.

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  #74 (permalink)
gdavid1977
Bern
 
 
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@colin: I am not saying, it's a fake. The only advice I would give is proceed with caution.

@Braulio: A post from someone who took the training would be helpful, but only a small part of the statistics and it would be really hard to tell which one. He could be someone who failed (the only one) and wants to blame the trainer for it or it could be some trying to increase the sales Difficult to tell.

Trying to stay neutral, a couple of comments
- A few important questions weren't publish on the blog. And the answer would have been really interesting.
- His method might not work for everyone. Theoretically it works, I found a couple of setups and did the backtesting. Even with a probability of 70%, can you wait for a signal for hours an have a loosing day, because the signal belongs to the loosing 30%? Because those signals in the right context are pretty rare.
- I found parts of his methodology within different systems. I mean not only indicators or trading philosophy, but teaching method, too. He is definitely an integrator, the question is, what kind of?
- I understand he is doing backtesting with Multicharts (uptick/downtick, because bid/ask is not available) and trading with MarketDelta (bid/ask). It seems it works for him.


The money: he is offering the DVDs for about 2000-2500 USD. The question: can you afford to lose it or not. For a lot of people, that's serious money. Ironically, buying the DVDs is similar to a trade, maybe not to a day trade but to a position trade.

Even if it's affordable, I would try first to get a proof of it, make it work for me.

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  #75 (permalink)
 tomasito 
Chicago
 
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I looked in on El' a few times over the course of this year. If he can't trade he certainly can spin a good tale. Teaching his daughter to trade. "Kiki" that's a nice name, and a programmer, what luck. She's a quick student. Then of my, there's a son? He's very ill and lives in Australia. I don't know if he's been cured or still exists. This website is not about selling anything. Oh, why not, potential students have pleaded for help. Why you have to get your name in right away so that you won't miss out. Everything is starting to perk along. Now we have a new website and El' is visiting Chicago. There is suddenly a class. Soon we can take a week long holiday at his farm in France and combine that with a European ski holiday.

It's convenient that he's got Kiki to help him and program this new automated trading system which is doing great, but it still needs a little tweaking. He can't ignore that other daughter. You didn't know he has a daughter who just happens to have majored in marketing? She's a real slave driver. Now El's got to get those CD's out as she plans new seminars, etc. "puff, puff, puff."

I was a bit nervy and posted a question about his classes. Trading is just so godawful easy and there's never any mess. He felt sorry for me because I'd obviously suffered and posted selected portions of my post so that his students could ponder my naivete and incivility.

I followed with a more challenging response but that was disregarded. Why do these people engage me? I waste time and stay up late. There are more profitable ways of using my time, like sleeping and putting those guys in a little box and ignoring them. He barely spoke about market flow. I'm such an idiot.

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  #76 (permalink)
 Fat Tails 
Market Wizard
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tomasito View Post
I looked in on El' a few times over the course of this year. If he can't trade he certainly can spin a good tale. Teaching his daughter to trade. "Kiki" that's a nice name, and a programmer, what luck. She's a quick student. Then of my, there's a son? He's very ill and lives in Australia. I don't know if he's been cured or still exists. This website is not about selling anything. Oh, why not, potential students have pleaded for help. Why you have to get your name in right away so that you won't miss out. Everything is starting to perk along. Now we have a new website and El' is visiting Chicago. There is suddenly a class. Soon we can take a week long holiday at his farm in France and combine that with a European ski holiday.

It's convenient that he's got Kiki to help him and program this new automated trading system which is doing great, but it still needs a little tweaking. He can't ignore that other daughter. You didn't know he has a daughter who just happens to have majored in marketing? She's a real slave driver. Now El's got to get those CD's out as she plans new seminars, etc. "puff, puff, puff."

I was a bit nervy and posted a question about his classes. Trading is just so godawful easy and there's never any mess. He felt sorry for me because I'd obviously suffered and posted selected portions of my post so that his students could ponder my naivete and incivility.

I followed with a more challenging response but that was disregarded. Why do these people engage me? I waste time and stay up late. There are more profitable ways of using my time, like sleeping and putting those guys in a little box and ignoring them. He barely spoke about market flow. I'm such an idiot.

At least his marketing approach shows some skill. Unfortunately there are so many bad websites and system vendors. His website is not bad, I admit that I had some fun reading the Electronic Local Blog. The chart setups are no-nonsense, although he does not show his exact setups.

I have learned something from reading his blog. So I do not blame him for having told me am entertaining story, even if it is not true.

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  #77 (permalink)
 tomasito 
Chicago
 
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Yes, but is 10% of the money really going to a charity? Did you look at the days which were something of a challenge? El never seemed to break a sweat. Infinity sponsored this guy in Chicago or so I believe. It would be a novel idea if a broker would partner with only proven educators.

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  #78 (permalink)
 Bankrobber 
manchester
 
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Does anyone know of, or have the DVD's? Would be interested on there thoughts

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  #79 (permalink)
 Braulio 
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Bankrobber View Post
Does anyone know of, or have the DVD's? Would be interested on there thoughts

Me too.

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 Tradetronics 
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Braulio View Post
Me too.


I have been following EL for some time... If you follow his posts and the charts where he shows his entries, you will immediately notice that there are hardly losses... His entries seem to me a little bit too perfect...

Just my two cents...

Regards,
TT

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  #81 (permalink)
 Prtester 
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Tradetronics View Post
I have been following EL for some time... If you follow his posts and the charts where he shows his entries, you will immediately notice that there are hardly losses... His entries seem to me a little bit too perfect...

Just my two cents...

Regards,
TT


Hehe, no he is one of the few people than can buy at HH and sell at LL every single time. :-)

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  #82 (permalink)
 cory 
the coin hunter
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Bankrobber View Post
A little like EL Blog then - very elusive answers once again

Thanks for nothing

nothing elusive about this Forums - balance

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  #83 (permalink)
 cory 
the coin hunter
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Bankrobber View Post
A little like EL Blog then - very elusive answers once again

Thanks for nothing

let see if this is also elusive, brokerage statements and performance, trade executions in excel
Forums - balance

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  #84 (permalink)
 Braulio 
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cory View Post
let see if this is also elusive, brokerage statements and performance, trade executions in excel
Forums - balance

Now I'm jealous! Teach us all and post the setups also!

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  #85 (permalink)
 cory 
the coin hunter
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Braulio View Post
Now I'm jealous! Teach us all and post the setups also!

like I said million times before all questions had been answers and available for viewing 24/7 do you think thousand of pages with more than a million viewers didn't go into enough detail for you?

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  #86 (permalink)
 GoldStandard 
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cory View Post
like I said million times before all questions had been answers and available for viewing 24/7 do you think thousand of pages with more than a million viewers didn't go into enough detail for you?

Braulio, I believe Cory is referring to the Jack Hershey method which can be found on several long threads on EliteTrader. Its a rather complex method which is hard to explain and many of the posters trying to explain it do so in a rather cryptic and difficult-to-understand manner, especially the originator Jack Hershey. Some people seem to find great value in the method, but most traders that study the ET threads come away more confused than before.

From what I was able to gather the method includes a way to predict when moves were ending based on fractal volume patterns.

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  #87 (permalink)
 Braulio 
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But nowhere in EL's blog will you find any reference to the Jack Hershey method.

So I assume that:
1. It's something Cory knows/teaches along with El's method
2. I don't think that's what Cory's referring to but maybe he can answer that for both of us.
3. This is not Elite Trader. So if that's what Cory's referring to he should have said so, it would have helped a lot more.

Have you traded EL or the Jack Hershey method?


GoldStandard View Post
Braulio, I believe Cory is referring to the Jack Hershey method which can be found on several long threads on EliteTrader. Its a rather complex method which is hard to explain and many of the posters trying to explain it do so in a rather cryptic and difficult-to-understand manner, especially the originator Jack Hershey. Some people seem to find great value in the method, but most traders that study the ET threads come away more confused than before.

From what I was able to gather the method includes a way to predict when moves were ending based on fractal volume patterns.


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  #88 (permalink)
steve5
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I have been reading electric local blog for a while but have not seen any reviews on his trading course. Is there a review somewhere.



Thanks

Steve

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  #89 (permalink)
 tomasito 
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I read some of those posts on Elite Trader and felt that getting at the meat of the method, enough to know if you wanted to commit the time, was more than I wanted to spend. It looked like an honest effort to impart some information... There were also diligent posters who were assisting I believe, as well as those whose "noise" became distracting. That's Elite Trader, it often has too many "interested party" postings and "tantrums," and, of course, good threads. A lot of the ratings and advice I would take with a grain of salt as man, whether they have 5 months experience or 5 years has an opinion.

I had a friend in NYC who was a broker for EF Hutton in the 70's and bought some options based on his knowledge and became somewhat interested. I received a brochure from Ken Roberts in the late 80's and he is articulate and convincing. It wasn't necessarily that expensive and I learned quite a lot (updating charts by hand). His material was ust standard technical analysis regurgitated in a simplistic format. I overpaid for commissions and blew my account out eventually.There were a few good trades and I was lucky not to get stuck on the wrong side of "limit" market.

I have been investing and trading more or less ever since then. I would suggest to Cory that he has everything he needs to trade technically. I see him all over Mike's Forum and he contributes like crazy. Entries and exits don't need to be precise in that they must be exactly on the mark, the 'X' so to speak. Make it easier on yourself by finding the best 'areas' to enter, set a SL and target(s).

Rather than trying to pry out something that isn't here I would that anyone who is having a hard time "figuring out a trading system/method" take Mike up on his offer for help with your trading. EL's method is not fully revealed. You can subscribe to MarketDelta or Linn, visit Charthub.com and import the "descriptions" (scripts) for many of his charts, which I think might reveal something more. When searching you will find that some are his, some are done by others, many don't include "descriptions," and some are from his first lessons but require a little searching. It seems to me that his entries are always late, that is at the end of bar. Why not use the MP levels, wait for PB and then second test on very short term time frame? You will see that EL uses longer term MP charts. Rejections of certain price levels are generally higher percentage trades, but trades that break out of rotation and become initiative can often yield more profit. Also look for 3-5 day balances as described by Don Jones (see Cisco-Futures.com among others). He is dismissed out of hand by traders interested in MP, but he can give you a thorough understanding of the market, and you can call and speak with him at length on occasion. The co-author, Jones, on Dalton's book is Don's son, btw. Everyone who trades with MP, and there are some big traders, including at least one "Wizard" who use it, owe Don Jones something as he was also among the first. I don't follow his 'method' you either discover one with his help or find someone else who does. (obviously I took a course with Don, the "short course", but other than that I doubt he remembers my name).

I read a post by someone who said she lost $40k in Woodies CCI room, not $4k, sheit, most people lose some money but it's hard to have sympathy some times. I'd already been booted from his room for asking a question--Woodies (free) room wouldn't let me into the "Vegas" trade room. That's all. I'd also seen the "moderator's" hiding their entry windows under their charts (they were losing money, btw), but carrying on like they were pros. Woody is a frigging industry now. Look at all the famous people who he's had his picture taken with!

Sorry to go on, but I like to add my 2 cents on occasion.

I know nothing, nothing-Sgt. Schultz

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  #90 (permalink)
 tulanch 
Salt Lake City, UT
 
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If you're looking for a simple NT7 MOMDOT indicator, without programing you can create the desired output using NT7's SMA given the eqaution for MOMDOT is in fact based on the "TYPICAL" calculation.

I obtained the following from a previous post in this thread

MomDots - (HI.2+LO.2+CL.2)/3 + (HI.4+LO.4+CL.4)/3 + (HI.3+LO.3+CL.3)/3)/3;

This is the SMA(3) of the TYPICAL values of the bars...
(Note NT's nomenclature for bars would be 0-current, 1-1st back, and 2-2nd back)

By default the NT7's SMA math is based on bar "CLOSE"

You change this to any of the following:

OPEN
MEDIAN
TYPICAL
WEIGHTED
HIGH
LOW

You do this from the indicator dialog and then select on the Input Series input field. Use the help feature to obtain the math for MEDIAN, TYPICAL and WEIGHTED.

You can apply the offset using the displacement field in the indicator dialog by changing it from 0 to 1, notice what happens to the placement of the current bars SMA value when you do this.


Getting a single dot on the bar and altering the color of the dot would require programming... but you can get the desired information using this approach.

It is also interesting to apply this approach to your other favorite indicators...

Hope this helps someone in future

enjoy

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  #91 (permalink)
imnewtrader
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Jeff Castille View Post
I listened to the webinar and thought it laid a very nice foundation for his daughter or any beginning trader. I particuliarly like the fact that he told all of the beginners that 90% of people who attempt trading fail. Hopefully drawing attention to this fact will give aspiring traders pause........

So, did anyone notice his momentum dots ?????? Are there any bright programmer types that are intrigued enough to want to take a shot at them??? I can't find anything like them on the Ninja forum or on futures.io (formerly BMT).

Several other points of interest.......he likes range bars....the 33 ema.....the 99 ema and of all things the CCI. My interest in the CCI indicator was recently rekindled by Ben Harrell on his CL thread. It's interesting that he uses a 45 and 6 setting on the CCI and makes a point of saying that he doesn't know anyone who uses the CCI like "Woodie" and makes any money. So, his use of the CCI is unique. Of course volume played a very big role with the cumulative delta and market profile.

There is no way this guy is going to teach thirty years of trading experience in one webinar.....or even two or three. I'm sure that this process is just starting and will yield a tremendous amount of information over time. All in all......a nice start.

as i have read your post, i was stuck with this phrase "I particuliarly like the fact that he told all of the beginners that 90% of people who attempt trading 10% who have been successful. And i believe that you are a great trader, can you please tell me some good things to start when you are just starting with this? thank you so much. i will be waiting for the reply!

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  #92 (permalink)
 Fat Tails 
Market Wizard
Berlin, Europe
 
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tulanch View Post
If you're looking for a simple NT7 MOMDOT indicator, without programing you can create the desired output using NT7's SMA given the eqaution for MOMDOT is in fact based on the "TYPICAL" calculation.

Even simpler: You can download it here:



I had explained that it is a displaced SMA(3) as you confirmed above. Displaced moving averages were widely used 10 or 20 years ago, and they still are excellent trend filters. For example Joe diNapoli used them as well, for example

3X3 -> a SMA(3) displaced by 3 periods, would be the MomDots further displaced by two fields
7X5 -> a SMA(7) displaced by 5 periods
25X5 -> a SMA(25) displaced by 5 periods

These are useful trend filters or stop lines. Trigger lines - which are moving linear regression indicators or the SuperTrend, which uses both direction and volatility are other alternatives.

The chart below shows trigger lines versus the three displaced moving averages.

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 eDanny 
East Rochester, NY
 
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Thanks Harry, I didn't know there was one in the downloads area. I was just trying to catch up with my free indicators.

Dan

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 dk27 
Europe
 
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So is there anybody who took his training and can give us feedback?

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zury
Prague, Czech Republic
 
 
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dk27 View Post
So is there anybody who took his training and can give us feedback?

This is something I d like to know too. Has anybody been at his seminars? Is it worth the effort and money? What was your impression on Tom?

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 Big Mike 
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dk27 View Post
So is there anybody who took his training and can give us feedback?

I think people have shared experiences in this thread already. You can also try @cunparis, I believe he used to be a member of this vendor's trading room.

Mike

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  #97 (permalink)
 dk27 
Europe
 
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Mike,

nobody really shared experience about his paid trainings or training courses, only about his free blog and he doesn't have trading room. Thats why I'm asking, during year or so of this thread existance non of his students spoke up.




Big Mike View Post
I think people have shared experiences in this thread already. You can also try @ cunparis, I believe he used to be a member of this vendor's trading room.

Mike


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 Jeff Castille 
Northern California
 
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imnewtrader View Post
as i have read your post, i was stuck with this phrase "I particuliarly like the fact that he told all of the beginners that 90% of people who attempt trading 10% who have been successful. And i believe that you are a great trader, can you please tell me some good things to start when you are just starting with this? thank you so much. i will be waiting for the reply!

Greetings imnewtrader,

Here's my 2 cents of advice for you........

I believe the reason that 90 % of people fail that attempt to trade is.......that they don't respect trading......they think because they have been successful in some other endeavour in their life that they will conquer trading with the same skill set that brought them their past success........sadly...the skill set in NOT transferable to trading. You need to develop a whole new skill set....this takes time. You need an excellent education in trading......but how to get it? Ultimately....you teach yourself.....you have to find out what type of trading is suitable for YOU. What market, scalping or swing etc.

Also.......while you are learning......don't use real money.......unless you are extremely wealthy....then do whatever you want. Most people only have a limited amount of "risk" capital........if you use all of your risk capital while you are learning....there won't be any left at the end of the learning process.

Before you risk real money demostrate that you have an "edge"........then perhaps there is a chance that you will succeed.

Good luck! Jeff

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zury
Prague, Czech Republic
 
 
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Jeff, I d like to add a quotation from Brent Penfold, that I belive is quite true:
=> 90% of traders loose due to ignorance, gullibility and laziness. Period.

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tomdavis
Corona del Mar, California, USA
 
 
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This thread has been going for almost a year and not a single person who took the ElectronicLocal training (and therefore is in a position to actually KNOW something) has posted anywhere on the WWW that I can find. Nothing. Not a word. Neither a good word nor a bad word about the ElectronicLocal trading class. Are his students all so successful now that they're jealously guarding their secrets? Or are they failures, not wanting to admit that they paid thousands of dollars and still can't trade for a living? It seems you can find out almost anything on the Internet these days, but the experience of even one person who took the class is nowhere to be found.

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