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Has anyone bought this indicator (www.autotraderninja.com) -- banned on BMT
It certainly does look like it is adjusting the retracements srgtroy and I agree it looks pretty cool.
I have a few questions for the owners of this indi;
Is the large green dotted line "0'?
How does it determine where or when it buys or sells?
Do you program it to take profits at certain retracements? Or is it set at where it takes profits?
It looks like the green dotted line is "0" and upon a second/third touch of "0", you buy/sell. Also looks like the red/green dots tell you when a retracement is hit to buy or sell depending on the trend of the instrument. Pretty cool!
Can you help answer these questions from other members on NexusFi?
Well, the method still looks quite enticing and I'd like to hear any comments and opinions on their latest video:
...So I'm really wondering if this was actually a live trade or just recorded in market replay...
BTW, the thicker green line represents the potential entry area to go long, the dotted red line below is the suggested stoploss area.
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
Yep, exactly this made me a bit suspicious. I would be glad if an Autotrader would work that fast and precise.
Well, this time he used Mark Douglas for the 'music'...pretty difficult at least for me to follow the trade and all of the drawing going on while listening to an interview simultaneously.
For the next time I'd like to listen to some reggae again...
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
Not a bad idea, so far he played Money by Pink Floyd several times.
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
looks like a decent indicator, ive only purchased 1 indicator and it was a bust.
i am interested in seeing some more screen captures if you have any, and learning of your progress with this.
Ben's 4/28/14 video appears to sum up his trading strategy, I think. The caveat being that I only watched a few of his videos. Maybe someone who actually uses the software can chime in.
It looks like he enters at the 50% RT with a stop at the 78% RT and takes profit at several RT and extension levels. It looks like he uses trend channels to screen trades. It "appears" that he's trading live but it also appears that he has 3 accounts with the same broker. So he could technically be long one account while short the same time out of a different account. I am in no way accusing him of this but don't get all starry-eyed over what appears to be live trading.
I'm personally not a fan of fibonacci strategies but I always try to keep an open mind. When in doubt I always go with the rule "if it works so well then why is it only $199 (notice not $200)". I was once an internet marketer myself..hint..hint.
Suggested profit targets are the golden, green, blue and red lines with the price markers on the y-axis (which disappear if the market just traded through these levels), depending on how many contracts you want to trade. The suggested stoploss is always the dotted red line as shown in my screenshots below.
Entries are quite easy to spot, but you really need to draw trend lines and channels all the time in order to come to 'correct' conclusions whether or not you should take a trade.
Well, and bottom line $199 won't let me go broke, so why not trying it out.
If it works it's great, and if not it's no big deal at all...
"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
