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Boomerang indicator system at indicatorwarehouse.com


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Boomerang indicator system at indicatorwarehouse.com

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  #101 (permalink)
 booker777 
Augusta, GA
 
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Can i get the name of the chat room that uses boomerang for $25 a month. I went to eminiticks and i dont think thats it. That guy seems to be using the TSI method.

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  #102 (permalink)
 longboat 
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booker777 View Post
Can i get the name of the chat room that uses boomerang for $25 a month. I went to eminiticks and i dont think thats it. That guy seems to be using the TSI method.

booker that was the room. No idea what he is using now. I am not in there anymore. Boomerang didn't work for me. Good luck. When traders keep changing their rules it usually means it doesn't work.

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  #103 (permalink)
 swish008 
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booker777 View Post
Can i get the name of the chat room that uses boomerang for $25 a month. I went to eminiticks and i dont think thats it. That guy seems to be using the TSI method.

Eminiticks used to have Boomerang in his chat room. Now he trades using the TSI Method and Woodies charts on different markets. He has found them to be more successful.

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  #104 (permalink)
 AHALPERN 
Houston, Texas
 
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EminiTicks no longer uses the Boomerang Scalping System. He chose to go a different direction with a different trading platform than NinjaTrader. If you wish, please to PM me to talk about other options.

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  #105 (permalink)
 dougl1965 
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hey guys,

Nice thread! I'm currently searching for my holy grail. I have found a lot of options out there but nothing concrete. If you are making 2-3 pts a day on the ES, I'd like to know how you are doing it? I'm like everybody else, trying to spend as little as possible and find something that works consistently.
dougl

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  #106 (permalink)
 Big Mike 
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dougl1965 View Post
If you are making 2-3 pts a day on the ES, I'd like to know how you are doing it?



By stopping your search for some external system to do it for you and start learning to trade, for real, by understanding price action and trading psychology - two things which you cannot "buy" that are crucial to your success.

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  #107 (permalink)
 dougl1965 
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Thanks Mike! Hate to ask, but what do u suggest? I just spotted Perry's system today. Looks interesting...but I do agree, too many indicators can complicate things in a hurry.

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  #108 (permalink)
 Big Mike 
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dougl1965 View Post
Thanks Mike! Hate to ask, but what do u suggest? I just spotted Perry's system today. Looks interesting...but I do agree, too many indicators can complicate things in a hurry.

This is getting off topic so all I will say is everything you need is here on the forum. Most people say you need 10,000 hours of screen time before you start to "get it" with trading, so realize there is no quick solution.

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  #109 (permalink)
 marker 
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AHALPERN View Post
EminiTicks no longer uses the Boomerang Scalping System. He chose to go a different direction with a different trading platform than NinjaTrader. If you wish, please to PM me to talk about other options.

For clarification.
I use multiple trading platforms for my own personal trading.
There has not been a new or different direction on the platforms I use.
I use NT and well as a few other platforms such as TOS.

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  #110 (permalink)
 supermht 
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Do you use Macdzerolag on NT7?

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  #111 (permalink)
 Big Mike 
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  #112 (permalink)
 Bob6307 
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Have been using for about six months whith some success. I augment both the Boomerang and Force Indictor with the Trade Bias indicator with strict rules for entry and exits.
I have also recently put in the GNMA trend lines.
I like the indicators very much.

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  #113 (permalink)
 Big Mike 
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Bob6307 View Post
Have been using for about six months whith some success. I augment both the Boomerang and Force Indictor with the Trade Bias indicator with strict rules for entry and exits.
I have also recently put in the GNMA trend lines.
I like the indicators very much.

Hi,

How did you find futures.io (formerly BMT) and learn about this thread?

Mike

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  #114 (permalink)
 fasttraxs 
Danville, California
 
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Bob6307 View Post
Have been using for about six months whith some success. I augment both the Boomerang and Force Indictor with the Trade Bias indicator with strict rules for entry and exits.
I have also recently put in the GNMA trend lines.
I like the indicators very much.


Does anyone know anything about this indicator. I saw something or read something. Its a multi MA that
Shows longer trends? I have looked here and at ninja forum with no luck.

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  #115 (permalink)
 marker 
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fasttraxs View Post
Does anyone know anything about this indicator. I saw something or read something. Its a multi MA that
Shows longer trends? I have looked here and at ninja forum with no luck.

No need to purchase. Here are the settings that you may find useful:

Two Moving Averages:
EMA-6
SMA-14

MACD:
8/26/9

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  #116 (permalink)
 Bob6307 
Houston, Tx
 
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Big Mike View Post
Hi,

How did you find futures.io (formerly BMT) and learn about this thread?

Mike

Mike;

I had been using Boomerang and Indicator Warehouse for about six months before I discovered futures.io (formerly BMT).
I used a seaqrch function on Google to discover futures.io (formerly BMT), and your search function to find indicators which worked in concert with Boomerang and the Force indicator.
You do a fantastic service for the trading coomnunity, and I thank you for what you do.
Can you describe the ELITE function in your system as to its benefits for those of us who do not develop indicators?
Bob6307

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  #117 (permalink)
 fasttraxs 
Danville, California
 
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Thanks Marker

I'm not sure if thats what I saw. It was more of a multi MA , But maybe this signal/ cross is the same. It seems the boomerang works well in a strong trend.

Ric


Bob6307 View Post
Have been using for about six months whith some success. I augment both the Boomerang and Force Indictor with the Trade Bias indicator with strict rules for entry and exits.
I have also recently put in the GNMA trend lines.
I like the indicators very much.


marker View Post
No need to purchase. Here are the settings that you may find useful:

Two Moving Averages:
EMA-6
SMA-14

MACD:
8/26/9


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  #118 (permalink)
 marker 
Las Vegas, NV
 
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fasttraxs View Post
Thanks Marker

I'm not sure if thats what I saw. It was more of a multi MA , But maybe this signal/ cross is the same. It seems the boomerang works well in a strong trend.

Ric


Its the same, whether you use two separate MA indicators for the crosses, or one multi MA indicator for the crosses. The exact same indicator prints and results. No different. Hope this helps.

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  #119 (permalink)
 fasttraxs 
Danville, California
 
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marker View Post
Its the same, whether you use two separate MA indicators for the crosses, or one multi MA indicator for the crosses. The exact same indicator prints and results. No different. Hope this helps.


Hi

Alan at indicator warehouse email me the GMMA Indicator and said it was OK to post for all.
I am not affiliated with them in anyway. It is used as a trend direction / filter for the boomerang signals
I hope it gets posted this is my first time........ LOL

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Register to download File Type: zip GMMA.zip (3.9 KB, 230 views)
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  #120 (permalink)
 AHALPERN 
Houston, Texas
 
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Two Moving Averages:
EMA-6
SMA-14

MACD:
8/26/9

For what it's worth, the above "interpretation" of the system is simply wrong. I would hate for readers to be led astray.

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  #121 (permalink)
 marker 
Las Vegas, NV
 
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fasttraxs View Post
Thanks Marker

I'm not sure if thats what I saw. It was more of a multi MA , But maybe this signal/ cross is the same. It seems the boomerang works well in a strong trend.

Ric


It doesn't hurt to plot these FREE indicators and settings over the Boomerang chart.
This way everyone can be the judge...

Best of luck

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  #122 (permalink)
 marker 
Las Vegas, NV
 
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marker View Post
It doesn't hurt to plot these FREE indicators and settings over the Boomerang chart.
This way everyone can be the judge...

Best of luck

Ric,

I bought the Boomerang awhile ago, and after the fact, I was lurking on this site, and these exact settings were posted. Members here actually took the time to experiment and figure out if they could create a similar chart with the standard free NT library of indicators. I posted a screen shot of both charts. Not too bad, HUH?

Don't get me wrong, the Boomerang is a good system. So are futures.io (formerly BMT) members free set-ups, just as good!

Hope this helps....

Please note, feel free to add any FREE NT color trend bar indicator to the main chart.
I believe they are called TrendBars or ZTrend, not sure...

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  #123 (permalink)
 AHALPERN 
Houston, Texas
 
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Note: I hope Mike let's this post remain. I just want to set the record straight... before this gets out of hand.

It is no secret that I own and manage the site that distributes the indicators in this discussion.

The Boomerang Scalping System is more involved than just a couple of moving average lines shown on a chart.

The system's arrow alerts (missing from your screen shot) are based on proprietary settings.

The Boomerang Force Index (also not shown on the chart) is also proprietary. The Force Index identified in other forum postings is a good indicator, but simply NOT the same.

The paint bars are controlled by another proprietary indicator.

Now, can all these settings be "figured out"? Of course! In fact, that's one of the great things about futures.io (formerly BMT)'s site... the spirit of discovery.

But, please don't post misinformation. It serves no one.

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  #124 (permalink)
 Rayzor 
Coloado
 
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AHALPERN View Post
Note: I hope Mike let's this post remain. I just want to set the record straight... before this gets out of hand.

It is no secret that I own and manage the site that distributes the indicators in this discussion.

The Boomerang Scalping System is more involved than just a couple of moving average lines shown on a chart.

The system's arrow alerts (missing from your screen shot) are based on proprietary settings.

The Boomerang Force Index (also not shown on the chart) is also proprietary. The Force Index identified in other forum postings is a good indicator, but simply NOT the same.

The paint bars are controlled by another proprietary indicator.

Now, can all these settings be "figured out"? Of course! In fact, that's one of the great things about futures.io (formerly BMT)'s site... the spirit of discovery.

But, please don't post misinformation. It serves no one.

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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  #125 (permalink)
 Big Mike 
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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.

Hi, I'm afraid you don't know what you are talking about. You don't have all the information. Only myself and the moderators can see all the information. You've jumped to a conclusion that is very wrong.

He was not banned for the post you reference, or even for anything in this thread for that matter.

Please back off the "I guess you'll ban me too" bit. That is a very big accusation to make and the remark is just designed to stir up trouble. That said, I do ask that you support the decisions made by myself and the staff. If you do not want to support us -- no problem -- then please don't come back to the site.

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  #126 (permalink)
 mavinwiz 
arcadia
 
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marker View Post
No need to purchase. Here are the settings that you may find useful:

Two Moving Averages:
EMA-6
SMA-14

MACD:
8/26/9

Hey Marker,

I was in your room for awhile and did find this useful but couldn't follow ya anymore when you switched to Think or Swim...I can't quite get my MACD to match yours...did you take off one of the colors on the MACD?

Heard you had a baby! Congrats on that!

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  #127 (permalink)
GTNorthwest
Seattle, WA
 
 
Posts: 4 since Aug 2011
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I am evaluating this indicator, also. I'm wondering if it is any better than some of the tools group members have developed. I'm a newbie and obviously there is a lot of stuff for sale. Fine, if we can't get the same results elsewhere, but too soon to tell whether it's worth the money, for me. I'm also looking at TurnSignal indicators. Anyone have an opinion about that one?

Thanks,
Gary


Maestro View Post
Has anyone looked at the Boomerang system at indicatorwarehouse.com? It looks like a couple of MAs in panel 1 (?). The forceindex in panel 2 looks interesting. Anyone have an idea of what it is? If this is not a good thread for this post please feel free to move it. Thanks.


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  #128 (permalink)
 Bob6307 
Houston, Tx
 
Experience: Intermediate
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Have been using for some 8 months and am very pleased with results.

There are indicators from "Jeff" and "Sharkey" which will also provide good results if integrated properly.

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  #129 (permalink)
 fasttraxs 
Danville, California
 
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Bob6307 View Post
Have been using for some 8 months and am very pleased with results.

There are indicators from "Jeff" and "Sharkey" which will also provide good results if integrated properly.


Hi

Can you tells us how your trading with them and what combination of indicators your using with them if any.

Thanks

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  #130 (permalink)
 futurestrader1 
New York City, USA
 
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Wow, I see a new Boomerang system for 6e futures. Now selling for $1200

The method is pretty much in this video:....seems like only 150-200 bar tick charts and some moving averages! Boomerang Currency Trader - Sample Trading Day - YouTube
Doesn't seem so safe however.

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  #131 (permalink)
 kaltrax 
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futurestrader1 View Post
Wow, I see a new Boomerang system for 6e futures. Now selling for $1200

The method is pretty much in this video:....seems like only 150-200 bar tick charts and some moving averages! Boomerang Currency Trader - Sample Trading Day - YouTube
Doesn't seem so safe however.

Hi Futurestrader:

I think that Perry G Method is better and FREE¡¡.

A year ago i was purchased the other for ES, and it's sleeping , don't work for me at least.

I was received several mails about how fantastic and how many pips and perfect setups..




Let's see...

Good trading.

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  #132 (permalink)
 sharmas 
Auckland
 
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Team

Anyone went for a trial or are using this product.

Boomerang Currency Trader


sharmas

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  #133 (permalink)
 kaltrax 
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sharmas View Post
Team

Anyone went for a trial or are using this product.

Boomerang Currency Trader


sharmas

Hi Sharmas

They don't offer trials as far i know. I was buyed old Boomerang for ES and don't work for me.

I could only receive a discount (-200$) for a 1195 $ price¡¡.... I see too many "Testimonials" about how great is this software, but until now anybody writes here a Real experience...., i have serious doubt if this work.
For me Perry G system still the best for 6E. try it and it's free here for all of us ¡¡¡

Good Trading.

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  #134 (permalink)
 BarOne 
San Francisco, CA
 
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...Boomerang Currency Trader is not worth the money. I got a big discount of it because I had purchased boomerang scalp trader then another 10%.

I would not recommend it, take a look at the video's anyone can come up with indicators then take a chart and show you how great the indicators performed. Now take the same indicator and apply it to real time with a REAL account and lets see how it performs. When I sent an email to Mohan and asked him if he could point me to videos that showed real time trading with a REAL account this was his response:
"Hi,
the charts don't show any different setups than a live chart would.

Everything is the same on the charts I show except in a live environment most of the trades will take 10 minutes or more to pan out as you can see on the vids I send. time scale on the bottom of the chart.

As mentioned in this briefing, I am not a salesman. You can watch the videos for as long as you want and if you want to buy BCT then go ahead. If not then just continue with your current trading process which I hope is succesful for you.

I post the exact testimonials we get back from the recent buyers showing that what is seen on the vids is the same in the live trading.

I am busy during the day operating as a hedge fund manager for private clients. BCT is a side business to assist traders in becoming winning traders. I have not found one system in 15 years that operates like BCT. If I had I would have purchased it and made money. I wouldn't have had to spend a whole year and 1000 hours of research to develop BCT.

I challenge anyone to show me a trader or a system that I can purchase and start making winning trades tommorrow in the markets.

I would love to turn my money over to a winning trader who could trade it for me.....then I can go to the beach with my guitar and relax. But in 15 years I have not found one single trader or system who can do this inspite of all the BS hype out there making it look like there are all these brilliant guys making all this money with their fake trading rooms etc. They only show their good trades.....while overall they lose.

So just watch the videos and decide if you want to get involved or not. Its up to you.

Best, Mohan"


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  #135 (permalink)
 Linds 
Victoria, Australia
 
Experience: Intermediate
Platform: NT, MT4
Broker: NT
Trading: Bund , ASX 200
 
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oh dear.....

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  #136 (permalink)
 booker777 
Augusta, GA
 
Experience: Advanced
Platform: NT
Trading: ES, TF
 
Posts: 94 since Feb 2011
Thanks: 35 given, 20 received

Blackrhno, can you clarify? how long have you tested the software for. Are you saying the signals are not good at all. Are you following the rules? I know of some people who recommend the software and say it puts you on the right side more than not but i would be very interested in your full review. Tks

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  #137 (permalink)
 Linds 
Victoria, Australia
 
Experience: Intermediate
Platform: NT, MT4
Broker: NT
Trading: Bund , ASX 200
 
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Posts: 415 since Jul 2010
Thanks: 934 given, 527 received

I havent tried this method but I just watched the promotional videos. It must be the case that these products are extremely under priced because as per his claims it will be an absolute walk in the park to be making millions of $$ in a very short time.

Honestly - it continues to amaze that these types of claims can be made without repercussion.

L

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  #138 (permalink)
 Gabriyele 
LA/CAlifornia REpublic
 
Experience: None
Platform: NT7
Trading: Chello
 
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Posts: 3,025 since May 2011

I have the Boomerang, have bought a bunch of stuff now almost 2years ago from the I.W.
And honestly about 2 weeks later playing with it, ...............i still kept loosing money

I think that if you want to be a day trader, you do have to create your own vehicle in first understanding the market.

When you start seeing the trading business as an easy way out of the 9-5 working for the big brother routine,
then you r willing to throw everything and anything at what looks easily attainable!!

The truth being,
it is a lot easier to sit down and learn the market first by observing the language of the bars (price action),
and a little by little create yourown strategy using the plethora of indicators available for free here on futures.io (formerly BMT)

As you move forward in learning the market language, yourown strategy will come to you,
you will have that "a-ha" moment!!




P.S.

I'd suggest perhaps you look into the Ichimoku Kumo strategy, very simple to learn!
..............................and much more practical as well

Great Luck & Happy Trading to you my fellow trader

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  #139 (permalink)
 peakskill 
west greenwich, ri, usa
 
Experience: Intermediate
Platform: NinjaTrader
Broker: PFG Best
Trading: gbp/usd
 
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Posts: 31 since Oct 2010
Thanks: 52 given, 12 received

I bought BCT back in November and it works pretty well. It's actually a rather simple system. It is different from the original Boomerang System (I have both) which I found not that good for trading ES. However, once I applied some of the nuances from BCT to original Boomerang, I have found that it is easier to spot opportunities in ES with the original.

Anyway, like any other method, BCT will not make or break you.

I have been rather profitable with the system, but I have been trading for a while now and I do filter a few of the trades (not just entering blindly.) Sometimes I miss out on a clear winner that BCT presents, other times I save myself some dough.

I have added a few things to this BCT chart, one of which is available on this forum called anaSuperTrendM1 (which I use as an ATR stop loss or to help me filter some trades.)

If there is one thing that BCT has helped me with in my trades, its getting comfortable with pullback entries. Until BCT, I was always more of a "breakout trader."

I have read through many of the posts on this thread, and while I like a free set of indicators as much as the next trader, a system like BCT isn't just indicators. Rather, BCT is a documented system with a manual and a clear set of rules for trading, which I think would help a new trader quite a bit, someone who might look at all the BCT indicator settings that may or may not have been exposed in this thread and shrug his shoulders and say to himself, "What are all these numbers and indicators everyone here is talking about and how should I trade them?"

Anyway, hope this info helps anyone considering BCT. It's no Holy Grail, but it is a decent rule based system and the signals are pretty easy to identify.

Trade green!

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 peakskill 
west greenwich, ri, usa
 
Experience: Intermediate
Platform: NinjaTrader
Broker: PFG Best
Trading: gbp/usd
 
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peakskill View Post
I bought BCT back in November and it works pretty well. It's actually a rather simple system. It is different from the original Boomerang System (I have both) which I found not that good for trading ES. However, once I applied some of the nuances from BCT to original Boomerang, I have found that it is easier to spot opportunities in ES with the original.

Anyway, like any other method, BCT will not make or break you.

I have been rather profitable with the system, but I have been trading for a while now and I do filter a few of the trades (not just entering blindly.) Sometimes I miss out on a clear winner that BCT presents, other times I save myself some dough.

I have added a few things to this BCT chart, one of which is available on this forum called anaSuperTrendM1 (which I use as an ATR stop loss or to help me filter some trades.)

If there is one thing that BCT has helped me with in my trades, its getting comfortable with pullback entries. Until BCT, I was always more of a "breakout trader."

I have read through many of the posts on this thread, and while I like a free set of indicators as much as the next trader, a system like BCT isn't just indicators. Rather, BCT is a documented system with a manual and a clear set of rules for trading, which I think would help a new trader quite a bit, someone who might look at all the BCT indicator settings that may or may not have been exposed in this thread and shrug his shoulders and say to himself, "What are all these numbers and indicators everyone here is talking about and how should I trade them?"

Anyway, hope this info helps anyone considering BCT. It's no Holy Grail, but it is a decent rule based system and the signals are pretty easy to identify.

Trade green!

Here are my BCT trades that I took this morning after NY open.

1 long winner at 10:06 AM for +8 ticks.
1 short winner at 10:29 AM for +8 ticks.
1 short loser at 10:57 AM for -8 ticks.
1 long loser at 11:13 AM for -3 ticks (my own rules made this trade a loser, Mohan's would have made it a +8 winner.)

My biggest criticism for BCT is the Reward:Risk ratio. Risking 12 ticks to gain 8 if you follow his sytems. Simple math will tell you that you need 3 winners to make up for 2 losers. I have found that I often get enough winners to make money, but it can be a lot of trades.

There is an added indicator that predicts a "runner" where you can attempt to gain 12-16 ticks. Occasionally, but not always, it appears after-the-fact and does little good.

Enough about BCT...

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  #141 (permalink)
 booker777 
Augusta, GA
 
Experience: Advanced
Platform: NT
Trading: ES, TF
 
Posts: 94 since Feb 2011
Thanks: 35 given, 20 received

Peaks, if its not too much trouble can you keep posting your BCT trades and or how you doing with it. I am considering the software. i dont know if we need to post a new thread for that in a different section.

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  #142 (permalink)
 ostadler 
Munich, Germany
 
Experience: Intermediate
Platform: NinjaTrader
Broker: Dorman/Rithmic
Trading: NQ, CC, ZN, ZB, ZF
 
Posts: 20 since Mar 2010
Thanks: 4 given, 5 received

I would second this request - more BCS-trades would be great! Thanks for all your work!

Many greetings,
Oli

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  #143 (permalink)
 Eminiswingtrader 
San Diego
 
Experience: Intermediate
Platform: Ninja, TraderStation
Trading: Beans, Crude, Euro
 
Posts: 1 since Jul 2010
Thanks: 0 given, 1 received

Looks like Adam at Indicator Warehouse has had enough of Apu or Mohan or what ever this guy's name is as IW is no longer an outlet for BCT.

It was only a matter of time as I think Adam is a pretty straight shooter -

This guy refuses to trade live and even when he's reviewing historical it's amazing how many losing setups just don't make it to the spotlight and are flat skipped right over.

If I'm not mistaken "Mohan" tried some collabrative effort with something called 21st Century Investors and had pretty much the same outcome.

I remember how frustrated Ray Burke ( IW's resident live day trader ) got with trying to trade this system live and after repetitive losses you could just feel the fear in his voice as he nixed the next current trade setup over some subjective "It doesn't feel right" - Well Ray, you were right.

This guy ( "Mohan") is always harping about how he has the "BEST" reputation in this industry .......... and I've got a bridge for sale - step right up!

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  #144 (permalink)
 maddie 
Philadelphia, pennsylvania
 
Experience: Beginner
Platform: Tradestation
Trading: stocks
 
Posts: 20 since Dec 2011
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the boomerang i looked at before it is just a moving ave cross believe it was something like 8/18ema..then the force index is a plot of the 44sma vs price above below..so basically if you want to duplicate it make a chart that has entries based on a 3ma cross of 9/18/44..

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  #145 (permalink)
 prisoner6 
Dallas, TX
 
Experience: Intermediate
Platform: NinjaTrader, IB
Trading: GC, CL, ZS
 
Posts: 14 since May 2013
Thanks: 5 given, 41 received

I have the original Boomerang trader, have used it for several years, and was considering whether to upgrade to the new version. Have not been able to get any real information from Mohan about what the differences are, so am not sure it's worth throwing another $1000 at it to get some small additional functionality.

The problem I have with Mohans' "system" in particular is the very limited risk to reward that he aims for. First of all, trying to trade 6E during the day trading session is pretty much a waste of time. Almost all the major moves are now made overnight, and all you get are crumbs during the day. Trading for 8 ticks while risking at least 8 or more is also counter-intuitive. 8 ticks is random noise, most of the time. Same for ES trades of 3-4 points. When the ES is running 20-30 points on some days, scalping for that small amount is very risky, I think.

The key to making Boomerang work is watching it on different time frames. For beans, I look at 7Range, 13Range and 20Range. For Gold, it's 7R, 13R and 30R. If you're in a big trending move, down for example, in gold, you need to be watching the 30R to see when the move really stops. On a 13R or 20R chart, you'll get a Boomerang buy signal as the downtrend nears its end, get a small rally, get a new divergent low, and that's what you need to be buying. So, in many cases, particularly in a strong trending market, a Boomerang signal is a signal not to buy or sell at the signal, but to buy or sell the next new high or low. It's very counterintuitive, because you'll often get the rally off that first signal, but it will usually fail, and then make a new low, and THAT'S the low you want to be buying. Using a Divergence indicator such as D3 helps a lot in seeing these. The QQE also is helpful.

But other times, all the time frames line up, you get a Boomerang buy signal, and away it goes, with no retracement, no divergent lows, nothing. So the setups are not very consistent, I have to say. You can get a perfect 20Range sell signal in an uptrending market, and it gets steamrollered after a $2 pullback in GC, as the 30Range indicators are not ready to turn around yet. Sure, you can sell based on the Boomerang signal, and it will pull back $2-3, but then take out the highs and get a new buy signal there. So you'll either take the $3 loss and be done, or try to reverse and hope that the momentum on the new buy will get you enough return to offset the $3 loss you just took. Sometimes that buy signal just kicks it up to a new high by a few ticks, and then it fails, with a new sell signal, so you get double chopped.

So it can be very ambiguous, and does not give consistent indications, by itself. With other indicators, it can be more useful. Now perhaps for what Mohan does with 450Tick charts, or 4 Range on the ES, 8 ticks in the Euro or 2-4 points in the ES is all the momentum that the indicator can be relied upon to give on those charts.

Generally, if you wait for a QQE or MACD change on a longer term chart, such as a 20R or 30R to establish the new trend, and then take boomerang signals with that trend, you'll do fairly well. Using it to try to catch real trend changes, particularly on a short term chart, will chop you up severely.

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 prisoner6 
Dallas, TX
 
Experience: Intermediate
Platform: NinjaTrader, IB
Trading: GC, CL, ZS
 
Posts: 14 since May 2013
Thanks: 5 given, 41 received

I did end up getting the new version of Boomerang, and the methodology is OK. As mentioned, Mohan conducts recaps of various days trading, and it all appears very straightforward. The setup is on the 450 Tick chart on the NQ, with a target of 12 ticks, and a stop of 10 ticks. The problem is, as mentioned, Mohan only does this in historical mode. And in historical mode, all the trades work great. Just like Stochastics, or MACD. The problem is, that in real time, you'll get indications of a trend change, that then disappears after you get in. So there is some repainting going on, that makes it difficult to make those historical trades in real time. Sometimes, depending on when you enter, you might only get to 8 or 10 ticks, before the momentum dies and it turns around. Of course, other times, as longer term time frames transition in the new direction, you might get in, get your 12 ticks (3 points), and then the moves goes on for 7, 10 or even 15 points, and you're sitting there watching it go without you.

An ATM setup of 4 lots, with 10-12 ticks on the 1st 2 or 3 lots, and then leaving the 4th lot as a runner with a break even stop, can work well for catching larger moves. What's a bit aggravating is that the setups rely on looking at some things that are judgement calls, such as how much distance there is between the Dynamic Trend Bands, how steep the bias line is, etc. All that kind of thing is easy to do when looking back at the chart, not so easy to do when trading in real time. I'm not sure why they couldn't include all those other things to look at in the logic, and just provide a unequivocal buy or sell signal when all the conditions are met. Has anyone ever looked at programming the setup rules into an autotrader setup?

They did start an AutoTrader account system using the BDT system starting this month. I tried to get in, but they already had enough accounts that filled it up (pretty quickly). Am not sure what their results are yet. They were projecting about $9400 per month on a 4 lot, requiring $12000 margin, and charging $500 per month and $8 commissions.

Finally, is anyone trading the boomerang day trader (new version) on the NQ live, and be interesting in Skyping to look at the trade setups. I'm still front-running or anticipating the signals too much, and end up taking false signals, or getting (and staying) in losing positions. Would be helpful to have a consensus in real time of what the real signals are.

Thanks.

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  #147 (permalink)
 prisoner6 
Dallas, TX
 
Experience: Intermediate
Platform: NinjaTrader, IB
Trading: GC, CL, ZS
 
Posts: 14 since May 2013
Thanks: 5 given, 41 received

Hello all - I wanted to update you all on Mohan's Trading Room and AutoTrade Account. In a phrase - STAY FAR FAR AWAY from the room and the AutoTrade account. The Boomerang system itself is great, if you follow the indicators. Learn to trade it yourself.

But he is clueless and arrogant. He doesn't follow his own system, just takes pot shots at the market. The Boomerang AutoTrade account was only in profit 1 day, then in 9 trading days, lost over 18% of the trading account. Then today he supposedly retooled his approach, going to have the autotrade account now take all his trades (Boomerang, scalps, what he calls ricochet trades - basically top and bottom picking) and have smaller stops. Instead, today, the 1st day of that approach, he's had stopouts of 5 points, 7 points and another 7-8 points, always stopping out right near the top or bottom of the move, just as he's been doing for the past 2 weeks. He will repeatedly hold a trade to a 7 point stopout, then reenter right at the point of the stopout, and then sit through another, smaller drawdown, before perhaps getting something out of it.

He's usually talking a bunch of junk first thing in the morning for 20-30 minutes, so usually misses the move off the open or pre-open. Then he's trading into the midday slop, after the big trends are gone, trying to make a big trade out of chop. Then he gives up at 2:30 eastern or so, doing his wrapup, missing good moves that often happen in the last 60-90 minutes. Doesn't trade days with rollovers, option expirations, FOMC reports, various other things. So often doesn't trade 25% of trading days in a month, because of all these "market conditions".

Today in the room and the account, there are 4 losers out of 7 trades, total loss of 15 points or so. The last trade he missed his 5 or 6 point target by 1 tick, now let it go all the back to the entry and scratched it, so 5 out of 7 losing trades today, for 15 points loss at least. No trade management, criminal to get 5 points, a tick or two away from your arbitrary target, and then let it go back right to break even. He scratched the trade right at the point you actually should be shorting again, and right at the top of the little rally to his Dynamic Trend Band, as soon as he scratched the trade, at literally the high tick, just like any newbie. Now it's dropped 5 points already, starting a new downtrend. That's 80% accuracy? That's a great trader, or a great trading room? Trade management?

Here are the trades called out today, 3/20/2014 -
1 short at 3681, I think - 5 point loser
1 short at 3686.50: 3689.50 high, low at 3678 - 6.5 point winner, taken off at 3680.
1 long at 3680.50: 3682.75 high, low at 3763.75 - 4.25 point loser, taken off at 3676.25
1 long at 3681: 3685.50 high, low at 3678.50 - 3 point winner, taken off at 3684
1 short at 3682.75: 3693.25 high, low at 3682.75 - 7 point or more loser. Taken off at around 3690
1 short at 3689.75 to 3691 area - 3697.75 high, 3689.50 low, 6-8 point loser. Stopped out at high 3597.
1 short at 3695 - high at 3696, low at 3688.75 - Had 6 points, scratched at top of move, 3695, then started new downmove.

Total trades - 7
Losers / Scratches - 5: 71%
Total winners - 9.5 points
Total losers - 24 points
Total loss - 15.5 points

When a Boomerang stops out for 3 points, it's "just a small loss". When it makes 3 points, it's a big deal. His ricochet trade targets (basically top / bottom picking, looking for momentum changes) look for 5 to 10 points. When he gets 5 points, wow, you'd think he'd hit the lottery. Then a 7 point stopout, well, no big deal, "ninja warriors". If you were getting 80% accuracy, perhaps. But at 30%, you're doomed, as the track record below shows.

At the runup to the opening of the AutoTrade account and trading room, he touted 60-80% accuracy on his Boomerang trades, saying that $8000-9000 per month return was available on a 4 lot, $12,000 account trade. These are actual quotes from his emails and website:

Jan. 9, 2014 - Welcome to 2014 Boomerang Day Trader precision trading setups. 11 winning trades in a row on Boomerang for Tuesday and Wednesday..Jan.7th-8th.
11 winning trades in a row...no losses...on Tues_Wed. Jan 7_8th - DayTradersAction's library

Dec. 12, 2013 In our simulated trading from 11/1-12/11 using the exact Core Boomerang Day Trader setup method/rules the gain was +$9434 on 4 NQ contracts . This was after all expenses mentioned above. These results must be considered hypothetical because they were done on a simulator as we began beta testing the program. Using Bills recommended $3000 margin per contract this would represent an excellent return of 80% after expenses for that first 23 session period. I expect we will be able to duplicate these or similar type of returns in real time as both of us are very long time experienced in trading but of course as you know we cannot make any guarantees or assurances.

Oct. 1, 2013 - Up to +80% winning trade setups in September using our very simple Core Trading method showing up to potential $18,465 after commission using just a $5K account? This was one of the choppiest trading months in years. Keep in mind that last months Boomerang Core Trading method showed up to +$24,845 in gains (hypethetical results based on using exact core method...see webinar and disclaimer below)

Here's the actual track record of the Boomerang trades, actual trades from my autotrade account for that period (winners are supposed to be 3 points, losers also 3, scratches usually for a tick or 2, but counted as a loss, due to commission, slippage, etc.):

3/3 - 5 short trades: 4 losers / 1 winner
3/4 - 3 short trades: 3 losers
3/5 - 1 long trade: - 1 winner
3/6 - No Trade
3/7 - 3 short trades: 2 loser / 1 winner
3/11 - 3 short trades: 1 loser / 2 winners (but for 1.75 to 2 points)
1 long trade: 1 winner
3/12 - 5 short trades: 3 losers / 1 winner / 1 scratch
3/13 - No Trade (he didn't trade because of rollover, there was a 80 POINT DOWNMOVE!)
3/14 - 1 short trade: 1 scratch
2 long trades: 1 winner/ 2 scratches (146 points of total market movement that day)
3/17 - 2 short trades: 1 loser / 1 winner (1.75-2 points)
1 long trade: 1 winner
3/18 - 4 short trades: 4 losers (against a 45 point trending upmove)

Trading days trading - 9

Total trades - 32
Total Winning trades - 10: 31.25% (some less than target)
Total Losing trades - 18: 56.25%
Total Scratches - 4: 12.5%

Total Short trades - 27: 84.38%
Total Winning short trades - 6: 22.22%
Total Losing / scratch short trades - 21: 77.78%

Total Long trades - 5: 15.62%
Total Winning long trades - 4: 80%
Total Losing long trades - 20%

Total loss on 4 lots - $2200, about 18% of equity

I was trading 4 lots, pulled back to 2 lots, and today it looks like it will be another $700 loss, or 7% loss on equity, after losing 8% in equity on 4 lots 2 days ago. If I had stayed at 4 lots today, it would have been a 14% loss in 1 day. It took him 9 days to lose 18%, now he lost 14% in 1 day. See a trend here - accelerating to the downside.

You can see from the track record (he refuses to provide a track record himself, "too busy") that an overwhelming majority of the trades are short trades, and that the overwhelming majority of them are losers. Right there, that inherent short bias, in a market that has lots of upside momentum, is crippling.

If you call him on his lack of ability to trade his own system (touted as having 80% accuracy on his website, it's now under 30%), he belittles anyone who disagrees with him or points out that his trading is bad, misses trades because he talks to much (and he repeats the same crap over and over again), takes 7 point stopouts on trades that he's only looking to make 3-5 points on, can't hold winning trades for larger amounts. Always fighting the larger trend, picking tops and bottoms WAY too early.

The frustrating thing is, the Boomerang system really does work. If you trade only in the directions of the Dynamic Trend Bands, buy when they cross over, or when price is above them on pullbacks, and stay in that long trade as long as they're going up and price stays above them and the red line, you can catch 10, 15, 20 point or larger moves. Once a move starts exhausting and prices drop below the DTBs, then you can short against them with low risk. Once they turn down, then just keep shorting against them and follow the downtrend. It really does work, but he's always front-running, sitting through big drawdowns, stopping out RIGHT where the move exhausts, and then reentering the trade again right where he got stopped out. For someone who has 20 years of experience trading, and has developed this good system, he is completely unable or unwilling to trade it himself. He trades like a neophyte, really. And every day, when he's losing trade after trade, well, today the market is "tricky", or "cowboys are rigging the market", excuse after excuse after excuse.

After a big stopout, it's "oops, sorry gang, guess I should have gotten out of it earlier". And when he's in a trade, he sets arbitrary targets that he "hopes" and "wishes" we'll get to, instead of either taking them off at obvious support / reaction points, and letting a trend trade run until a reverse signal is given (he says nobody can do that - BS, I know that it can be done, have seen someone do it, using Boomerang, QQEs, etc.). Often misses his target by 1 tick, then hangs on as Boomerang clearly shows a momentum shift back the other way, and will ride it back to break even, or even back into a loss.

A week ago, the NQ had a 19 point downmove, a 18 point upmove, a 29 point downmove, a 29 point upmove, and another 29 point downmove, with a late 11 point rally and another 10 point downmove into the close. That's 146 points on the major moves alone. He netted a total of 3 points on trades, most if not all of that eaten up with commissions & slippage. Is that really good trading, for someone who's supposedly been trading for 20 years and has this 80% accurate system?

Same thing on Wednesday - a 45 point upmove, yet he had 4 short Boomerang trades that were all losers, 12 points plus slippage & commisions. He fought the uptrend most of the day, because he was locked into his daily forecast prediction. All his indicators kept pointing up. but he ignored them. All you had to do was buy the market on the open when the Boomerang indicated going long, or on every pullback to his Dyanmic Trend Band line, and you would have made gobs of money. But he was too busy talking for the first 20 minutes, by which time the market was already up 20-30 points, then starts shorting. But of course, the market going up was just "cowboy riggers", not retail trade. Who cares? If the market is going up for whatever reason, don't fight, go with it. And that's what the Boomerang indicators showed. But no, let's fight the trend all day.

He complains that the market's different in 2014, and that the Boomerang trades are "more difficult" now. Personally, I think they are what they've always been. There's NO difference in the chart patterns between 2013 and 2014, or 2011 and 2012 to 2014, for that matter. I've watched them hundreds of hours, and see the same patterns over and over.

I think the real problem is that he's been always doing his tutorials on the Boomerang trades on his website, AFTER the trades are done. Hypothetical trading. Having watched the system myself for some time, it's easy to take a signal too soon, because it looks like it shows a trend change, then in the next bar, that indication disappears as prices move. That's basically the problem with almost every indicator, they're all based on past price movement, and to some extent or another, will repaint as price changes and change indications. I think in real time, he's obviously finding it a LOT more difficult to pick those trades out than it is when all price movement is over and done with.

Anyone can go back to a historical chart with indicators, whether they're stochastics, MACD, Boomerang, you name it, and say, here's where you'd get long and here's where you get short. That's why in the tutorials and testimonials, he boasts of 80% accuracy, or 10 winning trades in a row, because he sees which signals work and which don't, after they've happened and the bars are complete, with no repaints. And as soon as those indicators start to change, Mohan wants to rush in and take the trade, afraid that it will move without him.

But waiting until his DTB lines change color and then taking pullbacks to them gives you PLENTY of time to get in on the trend change, sometimes at a new high or new low. By then, he's gotten in too early, maybe gets 3-5 points out of it, and then is looking to reverse into a new trend that drops 10, 15, 20 or more points, and getting eaten alive.

I do believe the Boomerang system is a very good one, especially combined with other indicators, such as the QQE, D3 Divergence Spotter, perhaps an MACD-type indicator (I have 2 variations of them, called Bullseye and Wavetrend), and the usual stuff like Bollinger bands, ADXVMA, etc.

Maybe he'll turn it around. But after making a big deal about retooling the trading, today is as bad or worse than ever, with big net loss, big stopouts, and the usual excuses. After getting some points in the first week or two, he's just been flailing about, breaking even at best, and now losing larger and larger. Save the $250 a month he charges for this travesty, put it towards the program itself and learn it yourself, because it can be a good trading tool, if you really trade with it. He for some reason chooses not to, and the results show it. The emperor in his trading room and AutoTrade account is wearing no clothes.

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  #148 (permalink)
 tflanner 
Chicago, IL
 
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I don't own his software and I really don't know much about Mohan....but I took a 2 day free trial in his trade room a few weeks back. I lasted an hour. 2 thing I remember from my brief time in the chat room.

He said that in the history of the stock market, no one has been more correct than him. This was referring to his Daily Directional forecast.

He then went off about the New World order with Russian and China etc.....he lost me there and I checked out.

I have been in the Futures business since 1987. I never was exposed to the 'trading education industry' until the past 1-1/2 year. A lot of bizarre people.

Buyer beware!

The Market is Smarter than You Are
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  #149 (permalink)
 prisoner6 
Dallas, TX
 
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Well, a big milestone today for Mohan. A new high loss, and the complete wipeout of the original equity stake!

Since March 20, Mohan changed the AutoTrade accounts from trading the Boomerang trades, to taking all the trades. Now, starting on Feb. 18, trading 4 lots on a $12,000 account, by March 19, 1 month later, Mohan had lost about $2400, trading 4 lots using Boomerang. Now remember, this is a system that's supposedly 80% accurate, and he projected an $8000-9000 return per month trading only Boomerang trades (which have a target of 3 points, and a stop loss of 2.5 points). So, in one month, a 20% drawdown.

But it gets better! Starting March 20, the trading accounts started taking all the trades that he called out in the room. On March 20 ALONE, he lost 15-16 points, knocking the account down a good $1400 in 1 day (fortunately, I had stopped the trading in the account before then!).

Since then, the results have been:

3/24 - about

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  #150 (permalink)
 prisoner6 
Dallas, TX
 
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Sorry, posted an incomplete post.

Well, a big milestone today for Mohan. A new high loss, and the complete wipeout of the original equity stake!

Since March 20, Mohan changed the AutoTrade accounts from trading the Boomerang trades, to taking all the trades. Now, starting on Feb. 18, trading 4 lots on a $12,000 account, by March 19, 1 month later, Mohan had lost about $2400, trading 4 lots using Boomerang. Now remember, this is a system that's supposedly 80% accurate, and he projected an $8000-9000 return per month trading only Boomerang trades (which have a target of 3 points, and a stop loss of 2.5 points). So, in one month, a 20% drawdown.

But it gets better! Starting March 20, the trading accounts started taking all the trades that he called out in the room. On March 20 ALONE, he lost 15-16 points, knocking the account down a good $1400 in 1 day (fortunately, I had stopped the trading in the account before then!).

Since then, the results have been:

3/24: about 15 point loss
3/25: -8.25 loss
3/26: -11.50 point loss
3/27: +13 point gain - BUT - there were 36 trades, so in the trading account, there was $1152 commissions vs. $1040 of gain. Overall, a $112 loss!
3/28: -16 point loss (he mentioned 126 round turns? - perhaps on 4 lots. Still, a lot of churning)
3/31: 11 point gain
4/1: -26 point loss (!)
4/2: +9 point gain
4/3: -29.50 point loss.

That's a net loss of 86.25 points in 9 trading days. At this point, had one continued trading 4 lots in their $12,000 account (not that you could, since you wouldn't have the margin for it), he's basically traded it down to $0. Yes, $12,000 of losses with commissions in about 6 weeks, with the majority of the losses being made in only about 11 trading days, or 2 weeks. (over 100 points net loss, so over $8000 on a 4 lot, plus probably $2000 or even $3000 in commissions).

I truly don't believe Mohan has ever traded live before this. He says he traded a hedge fund for years, but no hedge fund would allow this type of reckless trading against the person's own system. He's learning as he goes, making most of the rookie mistakes I've seen (and made myself). Trading at round numbers? Repeatedly exiting on the high / low of the move? Jumping right back in at his exit? Letting profitable trades turn into losers and stopping out? So, he's learning on everybody else's dime.

He's "retooled" at least 4 or 5 times now, each time he says he sees what he's doing wrong (supposedly he's a market "expert" with 20 years experience), and then goes on to rack up bigger and bigger losses.

He's incapable of staying in a trend trade. Let's say he gets into a long trade, near the bottom, when the indicators turn. If it's a true trend change, it could go up 10, 15, 20 or 30 or even more points. He gets out at 4 points profit. Then, the only thing he can be looking at now is going the other way and getting short. Once you've gotten a low entry, it is VERY difficult to just buy into the trend, even on a pullback (because that looks like weakness, and a setup for a short). So, during the 15 point runup say, after the 1 4-point winner, he's most likely to take at least 1 short, or maybe 2, that fail. There goes the profit on the long trade, now 2 losses against the 1 winner.

And like a gambling addict, Mohan is addicted to the action. He can't sit through most trades for any length of time (unless it's losing, I know that feeling, rather than just cut a losing trade short when the indicators turn, he lets it run all the way to a max stopout, HOPING to get back to break even, or a profit), , can't let a winner run NOR can he stay out of the market until a real signal is generated. Therefore he takes trades out of boredom, or continually trying to show HE knows what the market's going to do, or feels he has to keep the action going for his audience, and takes signals very prematurely, or against a big trend, and not only loses, but loses what he could have been making on the original long, keeping a part of the trade in the bigger trend. But no he says to me, NOBODY trades that way. REALLY? I've heard him admit Larry Williams trades that way. Richard Dennis traded that way. Sure, day traders are limited to what the market gives them in a day. But there are many big trending moves every day in these markets, and he's shown he's absolutely incapable of staying in them. He's always fighting the trend much too early.

Staggering. For a "professional trader" with "20 years experience in the market"? Essentially nothing but net losing days since 3/20. And supposedly using a system that's 80% accurate (but he doesn't follow the system at all).

And, he has nothing but excuses. Like a poor workman blames his tools, a poor trader blames the market, blames his indicators, blames the riggers, blames everyone except himself. Every day, it's "I've never seen a market like this before". He says that most every day. Or it's a "crazy market" (because it's going against you, pal). And then he complains again and again about "the riggers" (again, who CARES if they're rigging market? Go WITH them!), and also said he's never seen a market like this before, can't figure out what reason there is to be bullish. Who cares what the reason is? Go with the flow.

He keeps telling everyone to read the Mark Douglas book, "Trading in the Zone". Everything he does is so far removed from what Mark Douglas writes, it's funny, if it wasn't pathetic. Mohan could write his own book, "Trading in the Losing Zone".

It's a shame, it's so frustrating, because the Boomerang indicators can work well, especially in conjunction with other indicators, some of them from Big Mike's. And he's just now figuring out what he's doing wrong - right! Says he has to look at the longer time frames. Duh! You've been supposedly trading for 20 years, and you're just now figuring that out?

When I wrote him and said that on a day when there was 150 to 200 points of large tradable moves in the NQ, and he only netted 3 points, this was his response:

" I think your disappointment stems from seeing large swings in the market and thinking somehow that you or someone is supposed to catch those each day. That is the illusion of trading. There is no such person or such method that does. That I have been in the trading industry a long time and that is the ILLUSION of the markets. I have never seen anyone do what you are describing here. But new traders think that is “what is supposed” to happen. I follow a very specific method for trading and so far my Day Traders Action live room has accumulated more points than any room or trading system I have ever seen."

A net loss of 100 points in 11 trading days, and the room has accumulated more points than any other room or trading system? How bad are the other rooms! Ha!

The only ILLUSION of the Markets is that Mohan thinks he can trade. As he's conclusively showing in the past 2 weeks, he has no clue on how to trade live. Actually, one could take the other side of all his trades, and do pretty darn good. I did that for a day, took trades right where he stopped out, and did pretty well.

Stay far far away, unless you want to go broke quickly. Or, if you need some humor, get a free trial and watch some truly hapless trading. Thank god I stopped the trading on March 19, before his death spiral.

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  #151 (permalink)
 researcher247 
Chicago, IL
 
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Epic write up!

Fuck Mohan; what a chump.

He has great 'rock-star' hair though; I give him that!

peace/hedvig

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  #152 (permalink)
 mattz   is a Vendor
 
 
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researcher247 View Post
Epic write up!

Fuck Mohan; what a chump.

He has great 'rock-star' hair though; I give him that!

peace/hedvig

Epic? I get the community spirit of sharing bad experiences, but this was a written in a Greek tragedy style.

We get it...Vendors don't make you money, so why go there from the first place? To get some material for gossip because you have nothing worth of value or content you can contribute here?

It's easy to hide behind your keyboard and spill your heart out, after all, no one knows you.
But, is this legacy you want to leave behind? I really thought that after 5 years of futures.io (formerly BMT) we graduated from personal insults even if its a vendor who is supposadly not the best of traders.

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
1 800 771 6748 local 561 367 8686 email support@OptimusFutures.com
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  #153 (permalink)
 cory 
the coin hunter
virginia
 
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prisoner6 View Post
...

I truly don't believe Mohan has ever traded live before this. ....

remind me of Frankz who was with Trader International, the day I was in his trading room, he was having a great time 'making' 5K+, 10K+ with his up to 50 cars per trade. Everybody was impressed until someone pointed out there were no 50 cars moving on DOM, busted. But it got better he switched to live account in order to show the same winning trades except he lost more than 10K with just a couple of trades. TI fired him the next day saying they didn't know he was on sim all those time.

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  #154 (permalink)
 prisoner6 
Dallas, TX
 
Experience: Intermediate
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Trading: GC, CL, ZS
 
Posts: 14 since May 2013
Thanks: 5 given, 41 received

Greek tragedy style? Well, that's exactly what it is! Talk about hubris.

Here's a guy touting an 80% accurate system, who "promises" to get 75% returns per month.

Instead, he loses 100% in 6 weeks.

Don't you think people would want to know about that, to not get sucked into this morass?

Hey, I lost $4000 or so of real money, between the shitty Boomerang trades (80% accurate), and the
subscription fees.

Thank god I stopped it before he went on the drunken bender, losing $8000-10,000 in 11 trading days.

You're certainly welcome to praise his trading room, or his autotrading accounts (which, by the way, have apparently been suspended until he gets his act together), but everything I've written has been the ABSOLUTE
truth, based on Mohan's end of day wrapups, and observations of his trading style in real time.

Hey, I wish he was successful. I would love to see him make 20 points a day. But he's obviously incapable of that.
Instead, he makes 9-11 points 2 days a week, and then loses 26-29 points the other 2 days of the week.

Is that what you expect of a "professional trader"? Especially using a "system" that is supposed to have 80% accuracy? I think not.

I think this guy has never traded live before February 2014.

The emperor has no clothes.

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  #155 (permalink)
 mattz   is a Vendor
 
 
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I have never been to any of the rooms you mentioned and my comments are just general. I don't belittle the loss of your funds, and I am sure you feel strongly about what you wrote, but you must evaluate if such returns that you have mentioned are realistically achievable.

This is a hard game, and many smart people here have shared their journey, their frustrations and what they have done to rectify psychopathology and method. You can learn a lot from that than many outside vendors.

Again, my comments were not about the method that was shared with you, I know nothing about it. Rather, I think you can spend your time on this forum in a better way than vent.

I too made a lot of mistakes in business, life and trading. I take responsibility, don't get angry and turn everything to a learning experience.

I wish you well.

Matt

Trading futures and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. You may lose more than your initial investment. All posts are opinions and do not claim to be facts. Please conduct your own due diligence. Use only Risk capital when trading Futures.
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  #156 (permalink)
 prisoner6 
Dallas, TX
 
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Posts: 14 since May 2013
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Hey, it's not that big a deal, but I just want to warn people to stay away from this person who touts himself as a market "expert", yet trades like an amateur, and has lost an incredible amount of money in only 11 trading days. He charges $250 per month for his trading room / autotrade subscription, and his results are laughable, if they weren't so pathetic. As I said, I removed my funds from his trading before the death spiral, so I'm just an objective observer, but the level of ineptitude is gobsmacking, to say the least, and I wanted to share the objective results of his "trading".

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  #157 (permalink)
 BeachTrader 
San Diego
 
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prisoner6 View Post
Hey, it's not that big a deal, but I just want to warn people to stay away from this person who touts himself as a market "expert", yet trades like an amateur, and has lost an incredible amount of money in only 11 trading days. He charges $250 per month for his trading room / autotrade subscription, and his results are laughable, if they weren't so pathetic. As I said, I removed my funds from his trading before the death spiral, so I'm just an objective observer, but the level of ineptitude is gobsmacking, to say the least, and I wanted to share the objective results of his "trading".

Awww come on, tell us how you really feel!

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  #158 (permalink)
 Daytrader999 
Site Moderator
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BeachTrader View Post
Awww come on, tell us how you really feel!

I think he already did...and provided a pretty good analysis of Mohan's trading room as well.

"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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  #159 (permalink)
 phantomtrader 
Reno, Nevada
 
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prisoner6 View Post
Sorry, posted an incomplete post.

Well, a big milestone today for Mohan. A new high loss, and the complete wipeout of the original equity stake!

Since March 20, Mohan changed the AutoTrade accounts from trading the Boomerang trades, to taking all the trades. Now, starting on Feb. 18, trading 4 lots on a $12,000 account, by March 19, 1 month later, Mohan had lost about $2400, trading 4 lots using Boomerang. Now remember, this is a system that's supposedly 80% accurate, and he projected an $8000-9000 return per month trading only Boomerang trades (which have a target of 3 points, and a stop loss of 2.5 points). So, in one month, a 20% drawdown.

But it gets better! Starting March 20, the trading accounts started taking all the trades that he called out in the room. On March 20 ALONE, he lost 15-16 points, knocking the account down a good $1400 in 1 day (fortunately, I had stopped the trading in the account before then!).

Since then, the results have been:

3/24: about 15 point loss
3/25: -8.25 loss
3/26: -11.50 point loss
3/27: +13 point gain - BUT - there were 36 trades, so in the trading account, there was $1152 commissions vs. $1040 of gain. Overall, a $112 loss!
3/28: -16 point loss (he mentioned 126 round turns? - perhaps on 4 lots. Still, a lot of churning)
3/31: 11 point gain
4/1: -26 point loss (!)
4/2: +9 point gain
4/3: -29.50 point loss.

That's a net loss of 86.25 points in 9 trading days. At this point, had one continued trading 4 lots in their $12,000 account (not that you could, since you wouldn't have the margin for it), he's basically traded it down to $0. Yes, $12,000 of losses with commissions in about 6 weeks, with the majority of the losses being made in only about 11 trading days, or 2 weeks. (over 100 points net loss, so over $8000 on a 4 lot, plus probably $2000 or even $3000 in commissions).

I truly don't believe Mohan has ever traded live before this. He says he traded a hedge fund for years, but no hedge fund would allow this type of reckless trading against the person's own system. He's learning as he goes, making most of the rookie mistakes I've seen (and made myself). Trading at round numbers? Repeatedly exiting on the high / low of the move? Jumping right back in at his exit? Letting profitable trades turn into losers and stopping out? So, he's learning on everybody else's dime.

He's "retooled" at least 4 or 5 times now, each time he says he sees what he's doing wrong (supposedly he's a market "expert" with 20 years experience), and then goes on to rack up bigger and bigger losses.

He's incapable of staying in a trend trade. Let's say he gets into a long trade, near the bottom, when the indicators turn. If it's a true trend change, it could go up 10, 15, 20 or 30 or even more points. He gets out at 4 points profit. Then, the only thing he can be looking at now is going the other way and getting short. Once you've gotten a low entry, it is VERY difficult to just buy into the trend, even on a pullback (because that looks like weakness, and a setup for a short). So, during the 15 point runup say, after the 1 4-point winner, he's most likely to take at least 1 short, or maybe 2, that fail. There goes the profit on the long trade, now 2 losses against the 1 winner.

And like a gambling addict, Mohan is addicted to the action. He can't sit through most trades for any length of time (unless it's losing, I know that feeling, rather than just cut a losing trade short when the indicators turn, he lets it run all the way to a max stopout, HOPING to get back to break even, or a profit), , can't let a winner run NOR can he stay out of the market until a real signal is generated. Therefore he takes trades out of boredom, or continually trying to show HE knows what the market's going to do, or feels he has to keep the action going for his audience, and takes signals very prematurely, or against a big trend, and not only loses, but loses what he could have been making on the original long, keeping a part of the trade in the bigger trend. But no he says to me, NOBODY trades that way. REALLY? I've heard him admit Larry Williams trades that way. Richard Dennis traded that way. Sure, day traders are limited to what the market gives them in a day. But there are many big trending moves every day in these markets, and he's shown he's absolutely incapable of staying in them. He's always fighting the trend much too early.

Staggering. For a "professional trader" with "20 years experience in the market"? Essentially nothing but net losing days since 3/20. And supposedly using a system that's 80% accurate (but he doesn't follow the system at all).

And, he has nothing but excuses. Like a poor workman blames his tools, a poor trader blames the market, blames his indicators, blames the riggers, blames everyone except himself. Every day, it's "I've never seen a market like this before". He says that most every day. Or it's a "crazy market" (because it's going against you, pal). And then he complains again and again about "the riggers" (again, who CARES if they're rigging market? Go WITH them!), and also said he's never seen a market like this before, can't figure out what reason there is to be bullish. Who cares what the reason is? Go with the flow.

He keeps telling everyone to read the Mark Douglas book, "Trading in the Zone". Everything he does is so far removed from what Mark Douglas writes, it's funny, if it wasn't pathetic. Mohan could write his own book, "Trading in the Losing Zone".

It's a shame, it's so frustrating, because the Boomerang indicators can work well, especially in conjunction with other indicators, some of them from Big Mike's. And he's just now figuring out what he's doing wrong - right! Says he has to look at the longer time frames. Duh! You've been supposedly trading for 20 years, and you're just now figuring that out?

When I wrote him and said that on a day when there was 150 to 200 points of large tradable moves in the NQ, and he only netted 3 points, this was his response:

" I think your disappointment stems from seeing large swings in the market and thinking somehow that you or someone is supposed to catch those each day. That is the illusion of trading. There is no such person or such method that does. That I have been in the trading industry a long time and that is the ILLUSION of the markets. I have never seen anyone do what you are describing here. But new traders think that is “what is supposed” to happen. I follow a very specific method for trading and so far my Day Traders Action live room has accumulated more points than any room or trading system I have ever seen."

A net loss of 100 points in 11 trading days, and the room has accumulated more points than any other room or trading system? How bad are the other rooms! Ha!

The only ILLUSION of the Markets is that Mohan thinks he can trade. As he's conclusively showing in the past 2 weeks, he has no clue on how to trade live. Actually, one could take the other side of all his trades, and do pretty darn good. I did that for a day, took trades right where he stopped out, and did pretty well.

Stay far far away, unless you want to go broke quickly. Or, if you need some humor, get a free trial and watch some truly hapless trading. Thank god I stopped the trading on March 19, before his death spiral.

Great post.

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  #160 (permalink)
 Daytrader999 
Site Moderator
Ilsede, Germany
 
Experience: Advanced
Platform: NinjaTrader 8
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@prisoner6:

Well, it seems that Mohan has a quite different perception of the results of his trading room (reality) since I received this Email today:



"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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  #161 (permalink)
 prisoner6 
Dallas, TX
 
Experience: Intermediate
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Trading: GC, CL, ZS
 
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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)
 Daytrader999 
Site Moderator
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)
 prisoner6 
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)
 Daytrader999 
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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)
 Big Mike 
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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)
 Daytrader999 
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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)
 forgiven 
Fletcher NC
 
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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)
 JonnyBoy 
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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)
 prisoner6 
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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 samiotis 
Gilroy california USA
 
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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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 JonnyBoy 
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samiotis View Post
So true and very accurate statement I found out the hard way.

If after reading this thread somebody still believes Mohan or Boomerang is worth their money, they deserve everything they get.

I found out the hard way too. Many years ago now but still, you never forget.

Sent using the futures.io mobile app

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 forgiven 
Fletcher NC
 
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to be fair if there are any boomerang users or other trading systems bought at indicator ware house that were green in 30 days and now live in Saint Kits . please share with us the wonderful thrill ride

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 Cloudy 
desert CA
 
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https://www.tradingschools.org/reviews/day-traders-action-and-boomerang-trader/

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  #174 (permalink)
 phantomtrader 
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"I have never claimed to be a big "trading expert" or any such thing. Look at our sites and you will see I have been around 17 years and NEVER MAKE FALSE CLAIMS. I am just a hard working Blue Collar working trader that makes a living from trading."

Evidence would speak for itself. Post the results from your live account. No doubt you'll disappear into the ether. But that's okay. After 17 years as an unsuccessful salesman, you deserve a break and a pill. Just stop taking money from people. It's the wrong thing to do.

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  #175 (permalink)
 ignacio90 
Madrid - Spain
 
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JohnnyR View Post
I have never claimed to be a big "trading expert" or any such thing. Look at our sites and you will see I have been around 17 years and NEVER MAKE FALSE CLAIMS. I am just a hard working Blue Collar working trader that makes a living from trading

And you still trading at sim account? One thing that you should learn (with 17 years of experience, of course) is that life from others is not the way. Go live...

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  #176 (permalink)
 Big Mike 
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JohnnyR View Post
Mohan here: I know these are old posts but one of our traders that has been in our room for years told me about these garbage BS posts here recently.


Remember, those of you reading this junk posted here: when you listen to this crap WITHOUT ANY PROOF of what they are posting and fully believe it you are just a sucker buying into statements that you do not know who or why they are coming from.

to just buy into the lies without any proof shows complete childishness. You will NEVER be successful at trading unless and until you GROW UP and accept the responsibility of how difficult trading can be.

We have many, many jealous vendors in the industry that have lost business to our documented and proven Boomerang Day Trader software. They are most likely behind these childish and FAKE NEWS reports.

I know its been years but I just heard about these and I have never heard of ANY of these people.

Why don't they email me directly and tell me about their disappointments with any trades? Its because they are FAKE.

You can see me trading succesfully live on our You Tube channel to see our winning and loss trades too.

I have never claimed to be a big "trading expert" or any such thing. Look at our sites and you will see I have been around 17 years and NEVER MAKE FALSE CLAIMS. I am just a hard working Blue Collar working trader that makes a living from trading.

Instead of whining and posting fake reports ....why don't you email me and I will be glad to assist you in learning to trade.

Mohan

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You can find more information about Mohan and Boomerang, as well as Day Traders Action, here:
https://www.tradingschools.org/reviews/day-traders-action-and-boomerang-trader/

The above article is worth the read.

Mike

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  #177 (permalink)
 Big Mike 
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Let's move Mohan related discussion to a more appropriate thread:



Mike

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