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Boomerang indicator system at indicatorwarehouse.com


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Boomerang indicator system at indicatorwarehouse.com

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  #161 (permalink)
Dallas, TX
 
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I didn't follow the room today, logged in at the end and it said he'd made 27.50 NQ points. I would wonder how many trades it took to do that. Yesterday he made 11 points (so he said), but there were 23 trades. If that was in autotrade, the commissions at $8 / RT would almost equal the net gain (net gain $880 - 736, based on 4 lots).

Maybe he's turned the corner. He claims that in the first few weeks (2-3 I'm thinking) of the trading room he netted something like +310 points. I NEVER saw any indication of that, I have to call BS on that. And don't know where he's getting the other 300-some points, because he's been net losing since 3/3/2014, to the tune of at least 65 and maybe 101 net points.

Hey, if he can turn around the trading in the next couple of weeks and get an 80% average, as he claims he can do, I "might" let him trade a one lot for a while....

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  #162 (permalink)
Market Wizard
Ilsede, Germany
 
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prisoner6 View Post
I didn't follow the room today, logged in at the end and it said he'd made 27.50 NQ points. I would wonder how many trades it took to do that. Yesterday he made 11 points (so he said), but there were 23 trades. If that was in autotrade, the commissions at $8 / RT would almost equal the net gain (net gain $880 - 736, based on 4 lots).

Hey, if he can turn around the trading in the next couple of weeks and get an 80% average, as he claims he can do, I "might" let him trade a one lot for a while....

Well, I think the commissions should have eaten up these profits in every case...

I really don't know how he trades in his room since I'm not able to attend the room at these times, but I know from personal experience that if one strictly follows the original rules of BDT, there's a real chance of making some consistent profits...so I really wonder why he digresses from his initial set of rules.

"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
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  #163 (permalink)
Dallas, TX
 
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There's 2 big reasons why he can't duplicate the Boomerang trades live and to the 80% accuracy rate.

(1) - The actual Boomerang trades happen too fast. This is what he's discovered, I think, in transitioning to live trading. On a historical chart, it's easy to see the trades that happened. In a live trading environment, the indicators happen too quick, or are repainting behind the prices too slowly for him to do the trade at the price it should be executed at. Also, a lot of his Boomerang trades get stopped out at the low / high of the move, because 2.5 points is too small a stop, and he doesn't look for the edge on the trade entry.

(2) In the trading room he takes a LOT of bottom / top fishing trades that don't have ANY of the Boomerang indicators to back them up. On a big trending move, because he can't stay with the trade that started the trend, he's always looking to go the other way before any signs of a turnaround happen. So he'll get 1 good small trade at the beginning of the trend, then take 2 against the trend trades that he gets steamrollered on, and then finally get a trade at the turnaround that works. Net result is often 50/50 at best, and sometimes the big 25-30 point daily losses. Maybe he turned it around today and started following the indicators, we'll see. Or today could just be the blind squirrel sometimes finding that nut.

But he's a real action freak, he can't stay with a winning trade when the indicators tell him to. And conversely, last Friday (which was a disaster), he had a trade that was up 10 points, and let it go to a 2 point loss, getting stopped at the lows before it went up again, and another trade that was up 6-7 points that went back to break even, he took it off break even, and then it went up 10-15 points. So obviously, "trade management" is not one of his strong suits, to say the least!

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  #164 (permalink)
Market Wizard
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prisoner6 View Post
There's 2 big reasons why he can't duplicate the Boomerang trades live and to the 80% accuracy rate.

(1) - The actual Boomerang trades happen too fast. This is what he's discovered, I think, in transitioning to live trading. On a historical chart, it's easy to see the trades that happened. In a live trading environment, the indicators happen too quick, or are repainting behind the prices too slowly for him to do the trade at the price it should be executed at. Also, a lot of his Boomerang trades get stopped out at the low / high of the move, because 2.5 points is too small a stop, and he doesn't look for the edge on the trade entry.

Yep that's correct, the signals come in very fast and I often miss a good and profitable trade because I'm a little bit too slow with the execution. Personally I got used to an (at least) 12 tick stop since 10 ticks most often just kick you out of a good trade only to see the market subsequently take off in your direction...


prisoner6 View Post
But he's a real action freak, he can't stay with a winning trade when the indicators tell him to. And conversely, last Friday (which was a disaster), he had a trade that was up 10 points, and let it go to a 2 point loss, getting stopped at the lows before it went up again, and another trade that was up 6-7 points that went back to break even, he took it off break even, and then it went up 10-15 points. So obviously, "trade management" is not one of his strong suits, to say the least!

OMG, letting a 5+ points trade go against you and eventually turn into a loss is really no object lesson for proper risk / money management...

"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
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  #165 (permalink)
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Rayzor View Post
It's a sad state of affairs when a guy can't even defend himself. Sorry Mike, but I think that the vendors should be able to post replys to stuff like this. What this vendor posted is a fact, regardless of whether it can be duplicated for free or not, Adam speaks the truth regarding the colors, arrows, and alerts. This is ridiculous, I guess you'll ban me too.

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  #166 (permalink)
Market Wizard
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Big Mike View Post
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Mike

Well, only for clarification, I just want to straighten out that Mohan's 'Boomerang Daytrading System' (BDT) originally has been known as 'Boomerang Currency Trader' and has been distributed by Indicator Warehouse by the year 2012.

Since then Mohan and Indicator Warehouse diverged, Mohan renamed his 'Boomerang Currency Trader' to 'Boomerang Daytrading System' and started to distribute BDT on his own website boomerangtrader.com.

So I just wanted to clarify that the title of the thread is misleading and not correct anymore because of the fact that they both run different companies for approx. 2 years now.

And before the question arises: I'm not in any way affiliated neither with Indicator Warehouse nor Boomerang Trader.

"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
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  #167 (permalink)
Market Wizard
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i bought this trash 4 years ago, complete garbage ,just like anything sold by the indicator warehouse..... look on this forum for your indicators.... if they are not here for free you do not need them...

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  #168 (permalink)
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Does Mohan ever stop. I don't know how he got my email address and I have tried to remove myself from his list but I get his trash at least once per week.

It is all OK though. I am going to stop trading my method and just use his system because I can win 90% of the time...such a crock of BS I just can't believe it.

You, the Google user who has stumbled across this thread, just think about this for a second. Why in the hell would you sell a system that could make you millions? Why? Because it doesn't work. Don't get suckered in.

Save your money, save your soul.

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  #169 (permalink)
Dallas, TX
 
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As an update - Again, the system itself, with the "Ultra" addition, is not that bad, if you trade it. I had a free trial a few weeks ago, and Mohan, after posting some big gain in the 2 weeks prior, STILL cannot or will not trade the system, but instead takes trades early, gets out quick, and then top or bottom fishes for 2-3 losses while missing the big trending move, before finally getting a 3-point winning trade. In the 2 weeks I watched, of the 10 days, at least 8 were losers. So much for 90% accuracy. If the developer (and I use the term loosely indeed) of the system himself can't get better than 20% winning results, either the program is bad, or he's constitutionally unable to trade it. I believe it's the latter. So, the trade room is a total waste of time.

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  #170 (permalink)
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prisoner6 View Post
As an update - Again, the system itself, with the "Ultra" addition, is not that bad, if you trade it. I had a free trial a few weeks ago, and Mohan, after posting some big gain in the 2 weeks prior, STILL cannot or will not trade the system, but instead takes trades early, gets out quick, and then top or bottom fishes for 2-3 losses while missing the big trending move, before finally getting a 3-point winning trade. In the 2 weeks I watched, of the 10 days, at least 8 were losers. So much for 90% accuracy. If the developer (and I use the term loosely indeed) of the system himself can't get better than 20% winning results, either the program is bad, or he's constitutionally unable to trade it. I believe it's the latter. So, the trade room is a total waste of time.

So true and very accurate statement I found out the hard way.

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