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tradingthetape.com

  #41 (permalink)
Elite Member
rutherford NJ
 
Futures Experience: Intermediate
Platform: Sierra Qtrader
Broker/Data: Amp and Optimus and CQG
Favorite Futures: Mainly NG Some GC, ZS,CL
 
Posts: 380 since May 2013
Thanks: 303 given, 137 received

stop loss and target management

You mentioned 100 - 150/contract on ZN so say 6 - 10 tick stop loss?
and if you are saying 3 - 600 .. thats a lot of ticks but since u add to them u get it right?

So when u first enter? how many ticks are u looking for a profitable trade? IF
a) reversal
b) Continuation

and when u add - are u reducing your proifit targets? like initial 4 tickcs but with larger size.. it will be only 2 more ticks?

and what about any automated BE - do u move your stop?

thanks

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  #42 (permalink)
Elite Member
Canada
 
Futures Experience: Intermediate
Platform: Qtrader,NT8,Sierra
Broker/Data: Dorman/CQG
Favorite Futures: NQ, ES Options, VX, ES, ZB
 
Posts: 185 since Aug 2013
Thanks: 26 given, 161 received


jokertrader View Post
You mentioned 100 - 150/contract on ZN so say 6 - 10 tick stop loss?
and if you are saying 3 - 600 .. thats a lot of ticks but since u add to them u get it right?

So when u first enter? how many ticks are u looking for a profitable trade? IF
a) reversal
b) Continuation

and when u add - are u reducing your proifit targets? like initial 4 tickcs but with larger size.. it will be only 2 more ticks?

and what about any automated BE - do u move your stop?

thanks

I'll give the 1st one 4-6 ticks of wiggle room then it has to turn back or I get out, if it looks like it's holding I'll add 1 more, so I need 2-3 ticks to get b/e, then I'll add a stop on both just below where I'm at, when it gets to b/e I'll double and split the stop, and keep raising it and take what I can get. Usually I'll trade 4,6 or 8 this way, but start with 1 as a canary in the coal mine. make sense? The total risk is 5-6 ticks on the 1st one and maybe 1-2 ticks on the second, so in that $150 range. Profit targets are not set, I like to take some early which serves as padding for the rest of the trade, if you know what I mean. I watch ES and ZN charts side by side and usually enter ZN when ZN doesn't confirm the move in ES, and order flow flashes green for me

Sometimes, I just free trade them, in periods of lower volatility, which I much prefer because every stop is a liquidity target for someone else


Last edited by Japhro; February 1st, 2016 at 04:17 PM. Reason: added info
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  #43 (permalink)
Elite Member
Canada
 
Futures Experience: Intermediate
Platform: Qtrader,NT8,Sierra
Broker/Data: Dorman/CQG
Favorite Futures: NQ, ES Options, VX, ES, ZB
 
Posts: 185 since Aug 2013
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last thought


I just wanted to add, that in his videos he is using 500 volume charts on ZN, maybe he uses something else as well but he doesnt show that. What I dont understand is, how you can glean anything from a 500 volume chart at ZN when each tick has 2-3000 volume in resting orders in it? This screenshot of a CTS DOM with ZN is in premarket! watch a T&S on ZN, it trades in bursts of 600 lots maybe 10-20 at a time when it makes a move. How can you see whats coming on a 500 volume chart when each trade is more than that, very often? I don't get it

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  #44 (permalink)
Market Wizard
London UK
 
Futures Experience: Beginner
Platform: CQG
Favorite Futures: Futures
 
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avirex56 View Post
The video at the website is showing hidden orders in the chart. Where can get this vendor information about hidden orders. Is this Information part of the CME data feed or a calculation of the vendor? Where can i get this Information about hidden orders or icebergs when i dont want to buy a software for 1k bugs?

I've yet to watch the video but I think by 'hidden orders' you actually mean iceberg orders.

You don't need expensive software to spot an iceberg order. Any trading platform with a decent Depth of Market visualization can show that. Then it's a matter of skill/screen time to be able to spot that.

Hope it helps.

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  #45 (permalink)
Elite Member
Vancouver, Canada
 
Futures Experience: Intermediate
Platform: NT
Favorite Futures: 6E
 
Posts: 7 since Mar 2011
Thanks: 0 given, 3 received

Tradingthetape.com

I am interested in his software, but have sent 3 emails already and no response what so ever. There is no phone number on his site, which is fine but at least answer emails.

I have read all of the reviews on this thread, and it seems to me that he is not that interested in doing any new business, and maybe he already has a bunch of clients who are paying the $250 per month on a regular basis, and does not want anymore.

Unless he is on holidays this week and runs a one man show, which might be a good excuse, I am not very impressed with the lack of response to my emails, so not a very good start.


Last edited by pipsquick; February 5th, 2016 at 10:22 AM.
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  #46 (permalink)
Elite Member
Portland, OR
 
Futures Experience: Intermediate
Platform: NT 7, testing 8
Broker/Data: CQG, AMP, TOS
Favorite Futures: ZB, ZN, NQ
 
Posts: 9 since Jun 2012
Thanks: 9 given, 9 received

my experience

I had a three month membership at the end of 2014 for tradingthetape.com with Scott something or other who is the owner.

I didn't renew after my three months were up. I wasn't satisfied with my experience which was this:

This appealed to me due to the order flow tape automation for entering and exiting orders. The buttons and integration are nice but ultimately I didn't see a statistical edge using his software nor its methods. I entered the room every day where the other traders were actively trading, mostly sim. I also attended virtually every training of any kind he had.

During the time I was there he was constantly "tweaking" his software and methods but I could never get them into a system that was predictable to any degree at all. He claims to limit to one tick of risk on the ZN but my experience was that it was theoretical as I would consistently get stopped out immediately due to one tick of risk as a one tick stop, which of course makes sense. We were constantly implementing something new every couple of weeks. I see now he is mostly demo for ZB. I recall there was usually only around 5-6 or maybe 10 people max ever in the live trading sessions which weren't designed to be trade calls but rather we were group learning more than anything.

I couldn't make money using his system and the $750 was sunk costs.

e

Wait... Did you hear that
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  #47 (permalink)
Market Wizard
London UK
 
Futures Experience: Beginner
Platform: CQG
Favorite Futures: Futures
 
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Thanks: 5,793 given, 4,044 received
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chessbase View Post
First of all I would like to say that I feel Scott training is vastly under-priced!!! - If someone can train you to trade profitably, in about 2 weeks, how much would you pay????? Scott has told us that if we are not profitable within 2 weeks he would do a one-on-one with us to see why - Where else have you EVER heard someone say anything like that! Has any ever heard of any other site, or software, or indicator vendor say that if you are not profitable in 2 weeks they would do a one-on-one with you to find out why??? It seems more like the opposite - If you ARE profitable within 2 weeks of using their system I'm sure they would like to find out HOW YOU ARE MAKING MONEY WITH THEIR SYSTEM!

I have now been trading this method successfully now for the last 4 weeks.

Right now, I still only trade the ZB and my success rate is about 6-7 out of 10, with 2-3 scratches out of 10 and 1 loser out of 10. The ZB is about $31 per tick, with about $3 commissions - So this success rate works out really well for me. There is another trader on his site that said his success rate is over 80% - Which I know is normally not believable with a trading system. But, this is not a trading "system", so actually I believe it!

TradingTheTape teaches its subscribers how to trade - period! The chat room is not a place where Scott tells us when to make our trades. Rather, it is where Scott gives us his market read, so that we can verify whether we understand what the order flow is telling us. I have not been in his chat room for the last 3 weeks or so because it just distracts my trading.

Since I have joined, Scott has put a 16 minute video on his webpage that is PRICELESS!!!! He tells all his subscribers that this video is the most valuable video on his whole website (out of 70+ videos). He tells us we cannot watch this too many time! I have put the video on my ipad, and my iphone so I could watch it whenever I have a free moment. This video teaches you almost everything you need to know to scalp the ZB. It covers about 8 minutes of market replay, which he pauses, from time to time, and tells you how to read the order flow at that moment. If he added just a little more information in that video, I think that it would easily be worth the $750 he charges for his site for 3 months.

I only scalp. I never could trade trends. I would almost always buy the top and sell the bottom of moves. I Thought that I would give Scott's method a try in trading trends. I made 2 trades. I actually bought the very top on trade #1, then sold the very bottom on trade #2. I will never try trading trends again!!!!! This is not to say that Scott's method to entering trends is bad - I just could never trade them. Actually, Scott's method makes a lot more sense then any other method I found - I just cannot do it.

So, if you are a scalper, Then I HIGHLY recommend tradingthetape! If you are a trend trader, this method sure makes more sense then any other way I heard of (e.g., if this MA moves above this MA, if the ADX is above this number, if this indicator...) - I just cannot verify how well it works for trend trading.

Good luck in your trades everyone,

Mike


everetts View Post
I had a three month membership at the end of 2014 for tradingthetape.com with Scott something or other who is the owner.

I didn't renew after my three months were up. I wasn't satisfied with my experience which was this:

This appealed to me due to the order flow tape automation for entering and exiting orders. The buttons and integration are nice but ultimately I didn't see a statistical edge using his software nor its methods. I entered the room every day where the other traders were actively trading, mostly sim. I also attended virtually every training of any kind he had.

During the time I was there he was constantly "tweaking" his software and methods but I could never get them into a system that was predictable to any degree at all. He claims to limit to one tick of risk on the ZN but my experience was that it was theoretical as I would consistently get stopped out immediately due to one tick of risk as a one tick stop, which of course makes sense. We were constantly implementing something new every couple of weeks. I see now he is mostly demo for ZB. I recall there was usually only around 5-6 or maybe 10 people max ever in the live trading sessions which weren't designed to be trade calls but rather we were group learning more than anything.

I couldn't make money using his system and the $750 was sunk costs.

e

I've just quoted two experiences which appear to be quite at the extreme opposites with this vendor.

Chessbase's experience appears to be very enthusiastic, while everetts sounds like he/she was disappointed.

Were both participants always on the SIM? Was chessbase's experience simply lucky? Was everetts' simply unlucky? Was the vendor going through a period of high change?

It would be interesting to flesh out the differences.

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  #48 (permalink)
Elite Member
Bangkok thailand
 
Futures Experience: Advanced
Platform: Multicharts, ninjatrader, tradestation, fxcm
Favorite Futures: Es forex
 
Posts: 116 since Jan 2015
Thanks: 128 given, 58 received

Trading The Tape Review - Trading Schools.Org

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  #49 (permalink)
Market Wizard
London UK
 
Futures Experience: Beginner
Platform: CQG
Favorite Futures: Futures
 
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Posts: 2,728 since Sep 2015
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Thanks Forexoil.

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  #50 (permalink)
Market Wizard
Calgary, Alberta
 
Futures Experience: Intermediate
Platform: NinjaTrader 8
Broker/Data: Kinetick
Favorite Futures: ES
 
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Posts: 937 since Apr 2012
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xplorer View Post
I've just quoted two experiences which appear to be quite at the extreme opposites with this vendor.

Chessbase's experience appears to be very enthusiastic, while everetts sounds like he/she was disappointed.

Were both participants always on the SIM? Was chessbase's experience simply lucky? Was everetts' simply unlucky? Was the vendor going through a period of high change?

It would be interesting to flesh out the differences.

Chessbase hasn't posted anything to this forum in 2 years. A massive amount of grandstanding of this vendor in a short space of time and then radio silence after Big Mike's intervention. Make of that what you will.

Upon reading Emmett Moore's review, the vendor seems like a shill. As soon as he is challenged for proof of trading performance, he gets all defensive. He can't even prove he has a trading account.

Caution people.

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- Trade what you see. Invest in what you believe -
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