Does anyone have any experience with Julie Wade. I keep getting spammed by Shark Indicators periodically (they're pushing this vendor as she does Bloodhound based products) and I have Bloodhound. I was therefore wondering if this vendor was legit in anyway.
Personally I think Renko charts are BS after playing around with them last year but that's my opinion. Any vendor who is selling Renko based indicators and strategies is a scammer in my book trying to sell the holy grail which doesn't exist.
Please correct me if I'm wrong !
Can you help answer these questions from other members on futures io?
Best way to find out if Julie is legit - ask her if she uses her product in her trading, and if she is profitable. If both answers are affirmative, she should have no qualms proving that to you with a brokerage statement.
Of course, 99% of vendors will have a bevy of excuses lined up why they can't provide brokerage statements (my favorite: "it is illegal"). Once you get an excuse, post it here, and then run away as fast as you can.
The following 6 users say Thank You to kevinkdog for this post:
Actually, Kevin I am building strategies and trading them with Renko bars. Like many other traders and strategy developers, I can't imagine trading with any other bar type. I am also a NinjaTrader vendor, and am not allowed by my agreement with NinjaTrader to post performance. I believe this is because it is actually not allowed by the CFTC, which is where NinjaTrader gets it from.
Look, if you are day trading, you are mainly trading noise. Your strategy must take into consideration the context of the type of volatility and trend that are present in the market. That is why it is so difficult to backtest a strategy. Unless you are just saying I will open a position on the first reversal bar at the Y-61.8%. Which by the way is a good strategy for crude. Otherwise, you need to start trading a strategy once a condition exists. Like yesterday with NQ after 10:15 am central. From 10:15 am Central to the close, you could hit any reversal and make money.
@Julie - Thanks for setting the record straight. Regarding performance, you have obviously done some research so could you provide some link from Ninjatrader & CFTC which say that you are not allowed to post performance? I would definitely be interested to find out the criteria needed to post performance.
Thanks,
iq
iq - I am not setting any record straight. Kevin is right about vendors touting trading strategies and then won't back up any claim regarding them. I offer a trading template for BloodHound users, not a trading strategy. i don't claim you will get any performance. For what I am doing, the risk and the strategy is the traders. As far as the language you want to see, it's in the NinjaTrader vendor agreement or you can find it on the CFTC site.
Can you show the part of the agreement with Ninja that actually states that, or are you conveniently not allowed to post the part of the agreement that says you can't post performance, too?
I have first hand knowledge of vendors that show real performance, and are constantly being courted by the Ninja Ecosystem folks, so this excuse contradicts reality.
The following user says Thank You to kevinkdog for this post:
There is no animosity. If you're selling a product and an expensive product at that, there should be some kind of assurance or guarantee that customers will achieve a certain performance and give them value for money. Otherwise all you're doing is just taking figures out of a magic hat. It's in your interest.
Are you telling us that YOU would buy any consumer product without seeing or validating that it works ??
The following 2 users say Thank You to iq200 for this post:
This portion of language is from the Vendor Guidelines for third-party vendors in the NinjaTrader Ecosystem. As you can clearly see, we are not allowed to post any specific numerical or statistical information about the past performance of any actual accounts.
My BloodHound templates are not "a strategy" per se. They are a guideline template for detetecting a trend condition. I have a 3 part template system. This is not a buy here and use this much risk type of system. So what I am doing doesn't even count anyway. Like I said, I believe in what I'm doing or I would not be doing it. I would love to chat with you some time and talk trading. Please contact me anytime. I would love it. I have customized the Market Analyzer to show a higher time frame trending condition on the Weekly Daily 60 and 15 minute charts, which allow me to drill down to a lower time frame and look for reversals in that direction. Not rocket science.
The following user says Thank You to jlwade123 for this post:
Just to be clear - I am still working on an algo. When an algo is traded using signals only, I will post performance per guidelines. These are trading templates. A guide. If this template package was an algo, it would cost you a lot more than $1K a year. Just saying.
From the article: "For example, the question, “Do you trade this method with your own money and could you show me proof?” is always a good one to ask. If you get an indignant reply in return, you are likely dealing with a cult of personality. "
Before publication, this article was reviewed by lawyers and industry professionals. If showing proof was illegal, this paragraph would have been stricken by the editor before publication.
And since publication, no one from CFTC or NFA has told me or the people at Modern Trader that this advice was illegal.
The following 3 users say Thank You to kevinkdog for this post:
Hi, I am not concerned by the argument discussed here but i am curious to know why you consider Renko chart as BS? If i remember well, i think this member of futures.io @RJay has developed a Renko bar type which addressed the pitfalls of the native NT Renko bar type.
The following user says Thank You to trendisyourfriend for this post:
Yea, Kevin, I'm working on it massa. I agree with you. When an algo is created I will post performance and then make outlandish claims that you can get mad about. But this is a trading template, a trading guide, a bumper car for new BloodHound users. Give me a break. I am doing the best I can here. Not bothering anyone. Keeping my head down. Doing my own thing. Jeez. But I absolutely am working on it. Make no mistake. I am not deceiving anyone. When my algo is finished, it will be that good.
The following user says Thank You to jlwade123 for this post:
I have played around with and tested RJay's Spectrum bar type. If it was such a holy grail RJay would have been making money from trading it than selling it for a couple of hundred dollars.
Renko bars are good for smoothing out the noise and viewing the trend, support/resistance and not much more. All the vendors who can't trade or find it difficult to sell indicators and systems on standard bar types move to renko bar types because its easier to sell them to newbies.
The following 2 users say Thank You to iq200 for this post:
You are wily, I'll give you credit. You've gone from "it is illegal to post performance" (not true) to "I am only selling a trading template, not an algo" to "I'm working on it, it will be great" to finally playing the sympathy card "not bothering anyone. Keeping my head down."
Some readers probably have forgotten the original question through this smokescreen: "can you prove the product works for you?" That question still remains.
Yet you are selling a product to allegedly help other traders, and that you supposedly use yourself, yet you can't/won't show how well it works for you?
The following 6 users say Thank You to kevinkdog for this post:
With respect, a 'template' is one or two steps short of an 'algo'. A template implies some kind of performance else how is this different to a template that I can download from the downloads on this site? What then am I paying for?
The following user says Thank You to iq200 for this post:
This is just TESTING my algo for new combine started June 6. The algo is not completed. I feel I have the right tools to get in done. And am excited. I have worked very hard over the past few years and am committed to getting it done. Please note futures trading contains substantial risk and is not for every investor. Past performance is not indicative of future results. Please see full risk disclosures on my website.
The following user says Thank You to jlwade123 for this post:
I've created systems using renko bars. They mean nothing until you forward test them. As a suggestion leave your system running on a particular market for a few days and then report back on the results. If you can show good results you will find a multitude of takers for your 'template'. Hell, I'll buy one.
The following user says Thank You to iq200 for this post:
Just read a BUNCH of posts here in the thread with NO real result...
Either one "believes" or one doesn't.
Therefore - we are here on a large forum with 90k+ real members - a simple recommendation:
The vendor opens a thread with a real time journal. Announcing the trade when taking and
then when closing with given result. So everyone is capable to follow the trade and to see how that
"system" works. Of course the journal should cope at least some months of trades.
If the vendor is not taking this chance: Just don't credit your card
A couple of days of positive results is not even close to being adequate. 4-5 months would probably only get my attention to investigate further for any potential edge. But I believe every "mechanical" system is ultimately a "curve-fit" regardless of the timeframe and will eventually fail.
The following user says Thank You to Sazon for this post:
We have a zero tolerance policy with vendors using posts on our forum to promote their business without prior permission. If you are affiliated with a vendor or are selling anything then you must notify us before making any post so that your account is clearly flagged as a vendor. Further, vendors are not permitted to make any posts in which you promote your business in any way. This means no promotional posts linking to your website, blog, videos, screenshots showing indicators or systems, or any discussing of products, services, testimonials. Doing so will result in you being banned.
The following user says Thank You to lemons for this post:
ok, thanks. I will make a journal on my own of the continued development and get back to anyone who cares a later date regarding the progress. I appreciate it. Back to work.
The following user says Thank You to jlwade123 for this post:
I can understand why. However, I think there should be an allowance for vendors to create trade journals but any posts would have to be substantiated by brokerage statements. This way everyone benefits - the vendors get the advertising they need and prospective clients can differentiate between the good and bad vendors. I'm not sure what the commission structure is for vendors to post on futures.io so don't want to comment.
The following user says Thank You to iq200 for this post:
For the record, aslan's Better Renko bars are the only NT Renko bars I'm aware of that are totally backtestable without having to add in a fudge factor or use a custom fill algorithm.
Normal Renko bars redraw themselves to look nice so you can be fooled into programming a ridiculous strategy that trades 20 times a day profitably in the Strategy Analyzer (yes, I was fooled too).
If your strategy trades less than once a day, then you're probably okay to use normal Renko bars as long as you add in some extra slippage.
The following 2 users say Thank You to ShatteredX for this post:
After reading through this whole thread, I don't see that anyone adequately addressed your initial query. Here's my take on J AUTO Strategies (which, as Julie correctly points out, are not strategies at all but simply demos of indicators making money on cherry-picked long trends).
From what I can see, the indies she is licensing are nothing more than repackaged indies that you can find here on futures.io. The Bloodhound templates she sells are simple to create, something that I could do after my first month using BH. The Strategy Analyzers are good ideas, but they likewise can be assembled in an afternoon by anyone with basic Ninja experience. Her YouTube videos are all cherry-picked beautiful long trends that are huge wins. I've got no experience with her trading room (I'd gladly evaluate that if given a free week or two to experience it), but based on my off-and-on evaluations, she is simply making money gift-wrapping and selling open-source indicators that others have freely contributed to futures.io. I don't do business with those types of people; my money goes to people like Harry at Lizard Trader, who are authoring original code, advancing the craft, and charging barely enough to fund their printer ink.
And as for your comment about Shark spamming you, please be aware that both Shark and Ninja do absolutely no vetting of their "partners" (maybe that would be a CFTC violation, I don't know), so they let literally anybody guest-star in a sales video. It's a shame...you have clowns like Woody's CCI Club, Ferenc with his Romanian/Hungarian Remek system and Sean Kozak/Goldenzone (and maybe Julie Wade?) getting an implied vote of confidence from these two reputable companies. Ferenc was literally attending the same Blackbird trainings I was, and then the next week he held himself out as an expert. Shark and Ninja don't realize how it sullies their reputations when they don't make at least a minimal effort to separate the wheat from the chaff.
You have to wonder if it's just another case of someone just not being able to trade profitably, so set yourself up and sell your knowledge to others. If they're so profitable, why don't they just trade?
The following 6 users say Thank You to gdstuart for this post:
It just amazes me what is being said about you by people who have no idea who you are or the amount of work you have put in. First, all I have done for the past 5 years is keep my head down and work on my own trade logic. I use momentum, linear regression and higher time frame trend. I have 2 strategies that I have been refining, a directional trading strategy and a reversion to the mean strategy. I am walk forward testing both starting Jan 7 so I can get some results that can be posted. The members in my room are all happy with my templates and are looking forward to my algos that will hopefully be released next Summer. I am too.
The following user says Thank You to jlwade123 for this post:
It amazes me that vendors think they post cherry picked charts and expect people to fork out 3.5k without any research or querying about their products.
I recall you saying last year that you were going to be journaling your trading. Now it’s NEXT year ... *yawn*.
The ones that have working systems are trading them themselves and raking it in - no time for journals, forums, websites or fake systems that they wouldn’t trade themselves with their own money!
True logical robust algos are not available to rent/buy at any price a retail trader can afford . If you just want a curve fit that looks amazing i can hand those out for free
If it kicks ass it will never be made public imo . hehe
The following user says Thank You to Ozquant for this post:
Not trials, but you can get a monthly membership which will give you access to the indicators I use. BloodHound templates are separate and require a BloodHound license. Just check the website for information. There is an upcoming presentation with Shark Indicators next week you can check out, and also a new recording from a NinjaTrader webinar I gave yesterday that outlines pretty much what I'm doing.
Site Administrator Swing Trader Data Scientist & DevOps
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Moderator Notice
One of @jlwade123's posts was deleted because a portion of the post contained promotional language. Vendors are always permitted to answer questions in their vendor review thread, but not permitted to use the thread to advertise/promote their service.
I've notified @jlwade123 so that the post can be resubmitted without that language.
I did say I have been working very hard over these past years studying price action and came up with something unique, my own systematic and quantitative process. Which is what we are supposed to do. I am proud of my work and wanted to invite anyone to come check out the trade room, which is the easiest way to see what I'm doing. Or there are webinar recordings you can see and an upcoming Shark presentation next week that you can look at. FYI, I don't trade in a live account because I'm not a CTA. So we use live market data in a Sim Account and the room is for educational purposes. We are all in this game to improve our trading, make money, and enjoy the freedom from not being chained to a desk all day that this line of work provides.
Everything has evolved for me with trading. For a process, I started with a higher time frame trend and thought I had nailed a great system using HTF trend with price trading above prior day close. And then I started adding layers. Not filters per say, but layering in multiple time frame momentum and linear regression envelopes. Like I said, a system that is unique because I built it. Putting the quantitative touch on it has made all the difference for me. I use a custom time period we trade to provide a data distribution for profit and risk. And that is where I am today. I will always be testing, refining and evolving as the markets do. I love this and can't imagine doing anything else.
By the way, Bar Chart just sent out a notice saying they updated their methodology for recommending buy or sell orders for stocks. The email said that after 10 years of having a system in place for recommending stock selection, they were updating the system and would start using higher time frame trend instead. I was like, yea. LOL. Imagine that. That was just the beginning for me.
Thanks,
Julie Wade
The following user says Thank You to jlwade123 for this post:
!
The ones that have working systems are trading them themselves and raking it in - no time for journals, forums, websites or fake systems that they wouldn’t trade themselves with their own money!
