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I have been following their rss feed for several months. In addition to showing off their kill zone indicator, they do have articles on trading which I find useful. While their tool interesting, I have noticed that they only post charts with winners and focus on its simplicity and effectiveness. Nothing wrong with that from a selling point since it's thier business to sell this tool. Now it may be that their indicator keeps them on the sidelines where it is prudent to stay out (i.e. chop), but I don't recall a post where this is discussed or a post showing where they had a loss. At the very least, a vendor should show its p/l and state to the potential buyer the market conditions their tool works best in. Why make someone pay a steep entry fee to find out if it does or does not meet their style of trading? To me, an indicator or strategy can sell itself based on its results even if the owner keeps the algorithm a trade secret. With this vendor, a lot of information is presented but I don't get the impression that all of it is. That's my two cents.
Regards,
-C
“Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.” - Sun Tzu
Can you help answer these questions from other members on NexusFi?
Platform: NinjaTrader (It's a love/hate relationship)
Trading: CL, TF, 6E
Posts: 169 since May 2010
Thanks Given: 60
Thanks Received: 314
One thing I have noticed from viewing many of their videos is that he makes extensive use of price action, price patterns, fibonacci, dow theory, multiple timeframe analysis and even $TRIN amongst other things. While it is a really solid approach, I think the website misrepresents it as being much more simple than that. It may come off to inexperienced traders as "just buy when the indicator tells you". In reality, the indicator is a very small portion of the overall approach, & is probably the only part of it that is not discretionary. Confirmation is a huge component of this approach. He repeatedly reinforces that fact that you are going to miss many moves and that is the price to pay for confirmation.
Realize that the videos and examples are cherry-picked to show where the indicators worked perfectly. There are no perfect indicators that will always work. I will say that he has some good advice about which markets to trade. (Hint: It's not ES). I don't trade ES either. I've learned that for experienced countertrend scalpers, ES may be a good vehicle. But for most of us mere mortals (aka we're NOT Al Brooks), trading with the trend on a different instrument is much wiser.
I actually gleaned a few small tidbits from his free videos that improved my trading, so I feel they are worth watching. Is the whole package worth nearly $3k ?... not for me. You can get all this stuff (except for the indicators) free on the web. You can probably find it all on futures.io (formerly BMT). There are plenty of other indicators that can keep you on the right side of the market. His simply combine a trend indicator with an oscillator into one paintbar study. The trend component keeps you on the right side and is used for entry after a pullback. The oscillator component highlights overbought/oversold conditions for exhaustion. With just a little experience, you don't need this indicator to tell you these things. You can use one of the many good paintbar indicators provided on futures.io (formerly BMT). Coupled with any oscillator to look for trend exhaustion, you got yourself a good framework to work within. If time is more precious than money to you, then it may be a worthwhile investment.
I think this could be a very successful approach coupled with the right personality (true for any system/approach). Anyone looking at the site needs to keep in mind that while it may seem very simple at a glance, like any system that will actually make money, the overall method will require a lot of hard work and screen time to be successful.
Wow, that's a lot of reviews so far and noone is an actual member. We should keep reviews away from heresay.
If you want to learn how to read the market then eminischool is great. If you just want the turbo scalper then you won't be as impressed, nor will any mechanical system do it for you. It depends what you want out of it. All in all they give you a complete toolset and if you applied just what they teach you would be consistent. If you weren't then Sean would work with you until you were. They treat you like a friend there, not a member. In the last two months alone they've come up with a new way to scalp that they don't advertise. It's simple but an effective money maker.
There's a 1 time fee and no trial. I don't know what that one guy was talking about. Like I said, so far I've just read heresay and speculation in this reviews thread.
I am a member , have been for 2 years, and I'd give them 5 out of 5 as a vendor. Compared to the many vendors I've wasted money on, I actally got my money's worth out of these guys.
Platform: NinjaTrader (It's a love/hate relationship)
Trading: CL, TF, 6E
Posts: 169 since May 2010
Thanks Given: 60
Thanks Received: 314
This is a follow-up to my previous post. Since then, I have signed on with eminischool.com. I was very hesitant to do so as $3k is a lot of money, but to be honest, as I was transitioning from a short-term scalper towards daytrading with the trend for the bigger moves, I was just plain exhausted by trying to build my own approach. I was moderately successful scalping, but not very satisfied with the results. It's OK for cash flow, but for me it wasn't the way to go for long-term equity growth. I was too troubled by the fact that I was settling for ticks, and missing the potential of the daily move. I was tired of spending hours each day trying to assemble a methodology. I finally just wanted a system that I knew worked, so I could spend my time focusing on the REAL weak link in my trading which is mastering fear and greed. So I created a list of prospective vendors and made a choice of what I felt fit me best and had the most potential for long-term success, not instant gratification.
I've deliberately waited before posting my follow-up here because in the past I have purchased or learned methods that seemed very promising at first, but were disappointing after trying to get real results using them. That being said, I have been a member for a few weeks now and am not disappointed and have no regrets. I'll stick with with my original assertion that the methods themselves are freely available on the net. I really haven't learned anything new as far as technique or TA that I wasn't aware of already. But for me, where I am at in my trading career, it is a very good fit. What I needed was a solid framework to create order from all the chaos that was my knowledge base.
If you're looking for a simple step-by-step approach for beginners, this may not be the best fit for you. If I think back to where I was just a year ago, this would not have worked for me then. But if you have experience daytrading with mediocre or lackluster results & need a little something to take you to the next level, then this may be a a good fit for you.
In a nutshell: It's a top-down approach to daytrading WITH the prevailing trend. The daily member emails and videos are worth the cost of admission all by themselves. The daily analysis of what to expect the following day has been spot-on since I signed up. The method is just good old fashioned classical technical analysis. (Read Edwards & Magee and you won't be surprised by anything he teaches). The charts used are clean with minimal indicators, if any. The proprietary indicators are an extremely small portion of the overall methodology. The methodology looks to identify the big move and capture the "meat in the middle". It has a mechanism for dealing with varying volatility, so you can cover swing trading down to scalping, but the core ideas are consistent between all timeframes.
For once, I'm actually satisfied with an expensive purchase. Oh, and the customer support is excellent.
Slipknot, $3K is a small price to pay if it catapults you into consistent profitability. Perhaps it's too early to know that given you have two weeks under your belt.
You mentioned Fear and Greed were holding you back, but didn't say how these folks are helping in that regard. Is it the psychology, the method, or both that makes the difference for you?
Platform: NinjaTrader (It's a love/hate relationship)
Trading: CL, TF, 6E
Posts: 169 since May 2010
Thanks Given: 60
Thanks Received: 314
After reviewing it, I believe the system has an edge. I also believe it is a good fit for my personality and goals. If I'm unable to trade it profitably, then the problem is me and not the system. It has nothing to do with THIS system per se, but was a general step that I needed to take to end a cycle that I was stuck in. (win, lose,tweak...win, lose, tweak... repeat ad nauseum). As long as I was trying to develop my own discretionary system, It would never be clear what the true weak link was: the system, the trader or both. I needed to eliminate one of the variables.
I've spent 5 years on my technical education. Enough is enough. It became clear to me that the time to shift that energy towards developing a productive psychology was long overdue.
It really may just be as stupid as I needed to make an investment in something so that I wouldn't abandon it. I once paid several hundred dollars for some indicators. I continued to use them long after I knew they were worthless. Why? Because I spent a lot of money on them and to remove them was to admit I wasted my money.
I tried the eMiniSchool a few months ago. If you've got the next few years to learn a strategy and method, this might suit your learning style, and it might work????? Things were presented in a very disjointed and hard to follow way. His idea of of teaching is to just throw a bunch of articles and videos at you and let you start reading and watching them without any rhyme or reason. He showed me his desktop, supposedly to demonstrate the simplicity of the method, but it in no way represents how the instruction and training will go, and oversimplified the simplicity of the system. All through my days in school, I was presented the curriculum materials in a straight-forward and properly sequenced way. NOT so with the eMiniSchool method! If I had known that this would be the structure of the teaching, I sure would not have wasted my time and hard earned money... and it was a WASTE! I was victimized... suckered in and really should have known better! I certainly learned not to look at any system unless they will allow you free access to their methods and training for 7-10 days... many others do! Anyone wanting to sell an expensive program should have full and complete disclosure!
