I am taking the Counterpunch Challenge - Trading Reviews and Vendors | futures io social day trading
futures io futures trading


Notices

I am taking the Counterpunch Challenge
Updated: Views / Replies:1,109 / 11
Created: by usdivers Attachments:4

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 100,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 4  
 
Thread Tools Search this Thread
 

I am taking the Counterpunch Challenge

  #1 (permalink)
Elite Member
Darwin
 
Futures Experience: Advanced
Platform: Ninjatrader
 
Posts: 53 since Sep 2009
Thanks: 54 given, 26 received

I am taking the Counterpunch Challenge

Greetings punters,

Well after speaking extensively with the vendors for the Counterpunch Challenge, I have decided to sign up for it and see how it performs.

After reading and confirming the caveats and requirements for the money back refund with the vendors, I figured I don't have anything to lose trying the course.

I will be running the program on my MES (OneUp) Capital live account.

I will provide further updates on how it performs.

FYI - I will only be trading the CL, NQ, and ES with this program.

Reply With Quote
The following user says Thank You to usdivers for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
Darwin
 
Futures Experience: Advanced
Platform: Ninjatrader
 
Posts: 53 since Sep 2009
Thanks: 54 given, 26 received

Day 1


First of all let me say I am no way associated with Netpicks whatsoever. Just thought I would start this thread to document my way through their challenge.

So....signed up....got access to the template and indicators for this system. It was a lot different than what I thought it was. I thought it was one of those red light green light systems, however their is a lot more to it than that.

The system basically revolves around 4 main indicators that they created...the main one is the NetCALC...(sic). Which basically is the meat and potatoes for this system. It works basically like a momentum indicator on steroids. Depending on what time or ticks your chart is on, the indicator than searches for trend or countertrend trades. Having a look at the settings...too many to mention...other than it appears highly customisable. I have left it on the default mode to start with.

Like I said, it is far from a red light green light system. There is a ton of trading videos to watch, not only on the basics of how you use the system, but how it should be used for different markets etc etc...so there are all kinds of different trade plans.

The site is quite thorough, they go through every aspect of trading, from beginner to advanced. They suggest that you run in Sim mode until you have several profitable trades on board. Which of course I didn't...LOL...I did a few hours watching videos (much more I need to watch) and then I thought I would try running it live. The main reason I went ahead and ran it live, was that the way they trade this system is very similar to how I trade already. I don't pretend to understand how the main engine of this system calculates trades...but I found out the hard way if you go against it, their is a good chance you will lose.

I did lose a few trades trying to do my own thing, only because some of the signals it gives, it looks like it is giving these signals at the end of the micro-trend...I didn't trust the signals yet to take them....so of course I traded the opposite direction....and got stopped out....

Anyways...like I said....for me it was not a huge learning curve...as I tend to be a momentum trader myself, using mostly Jigsaw DOM to determine this. I have a long way to go to get through all the learning material...however I thought my day 1 result was a good start.

Attached Thumbnails
I am taking the Counterpunch Challenge-day240118.png  
Reply With Quote
The following user says Thank You to usdivers for this post:
 
  #4 (permalink)
Elite Member
Darwin
 
Futures Experience: Advanced
Platform: Ninjatrader
 
Posts: 53 since Sep 2009
Thanks: 54 given, 26 received

evidence pending

Looks like I am going to have to show real evidence (to Netpicks) of my trades to get credit for the Counterpunch challenge. So starting again from first trade, I will video entire trade, put it on YouTube, and then leave the link here.

Reply With Quote
 
  #5 (permalink)
Elite Member
Darwin
 
Futures Experience: Advanced
Platform: Ninjatrader
 
Posts: 53 since Sep 2009
Thanks: 54 given, 26 received

Update

Hi guys,

Sorry I have been away, however nightshift was calling, so I had to get back to me "real" job.

Ok, CounterPunch (CP) evaluation time. I have included a screenshot of the typical layout that you would have seen on one of their many YouTube vids.

Basically the entire system revolves around their main CP calc indicator. What this calculator does is set up trade entries and exits depending on the algo that has been set on the indi. A + on top is a long trade, and + on bottom is a short trade. Basically looking for breakout trades. FYI - this thing generates a lot of trade opportunities.

Real question...can someone make money with this? I ended up signing up because they had this Challenge going if you could make money consistent with 20+ trades, they would refund the $997USD, and you could keep the system. I knew it was some type of breakout system going in, so I was not worried, on account that is my normal trading style.

So how did I do? Over the last couple of weeks my win ratio was 64.56%, profit after commissions was $1815, and that was after trading just 1 contract and scalping with the system for a total of 79 trades. I know I know, scalper die!...lol...anyways...that is my style by nature and it works for me.

I submitted the states to Netpicks to get my refund...however they would not except my stats, basically because it is a Live Oneup account, and any of us that trade the Live accounts you know we don't get any statements except what you can pull from R trader.

Sooooooo....according to NetPicks I have to start over again with my personal account, and document exactly each trade, instrument, time, and what trade plan I used, then submit whole package with statements back to Netpicks, and then "maybe" I will get my money back....so groundhog day for me....but I am determined to get my $997, so I will jump through the hoops one more time.

Pro's of the system - I like how it calculates entries and exits, and I like their little exhaustion dots (which are basically fractals I think).

Con's of the system - I think the SL that is generated is far too big. I think if you did not have understanding of price action, and just took every single trade it spits out, you are going to lose money big time. And the biggest thing I don't like about it, is in the live trading room where they teach you to trade the system, the moderator does not trade the CP live for anyone to see.

Bottom line, I think only experienced traders will find any use for it. I will update you on my 2nd go on this Challenge to try and get my pesos refunded

Attached Thumbnails
I am taking the Counterpunch Challenge-cp.png  
Reply With Quote
 
  #6 (permalink)
Elite Member
Leeds UK
 
Futures Experience: Intermediate
Platform: FXTrade
Broker/Data: Interactive Brokers, CapitalSpreads, Oanda
Favorite Futures: GBP/USD
 
Tymbeline's Avatar
 
Posts: 429 since Apr 2015
Thanks: 1,044 given, 547 received


usdivers View Post
I think if you did not have understanding of price action, and just took every single trade it spits out, you are going to lose money big time.


usdivers View Post
in the live trading room where they teach you to trade the system, the moderator does not trade the CP live for anyone to see.


I wish you every success in getting a refund from them, but the two sentences above do sound pretty typical of "vendor promotions", in general?

The second is a common scenario, I gather, and the first makes me wonder why anyone with a good enough understanding of price action to use the thing profitably would need it in the first place.

A novel marketing approach, though, and maybe a clever way for them to incentivise customers to provide their own future marketing materials?

Reply With Quote
The following user says Thank You to Tymbeline for this post:
 
  #7 (permalink)
Elite Member
Darwin
 
Futures Experience: Advanced
Platform: Ninjatrader
 
Posts: 53 since Sep 2009
Thanks: 54 given, 26 received

on the same page


Tymbeline View Post
I wish you every success in getting a refund from them, but the two sentences above do sound pretty typical of "vendor promotions", in general?

The second is a common scenario, I gather, and the first makes me wonder why anyone with a good enough understanding of price action to use the thing profitably would need it in the first place.

A novel marketing approach, though, and maybe a clever way for them to incentivise customers to provide their own future marketing materials?

I was thinking the exact same thing...it is kind of genius when you think about it...they offer no money back guarantee...but if you can trade their system, they will not only give you the system free, but your money back as well. Speaking to date, no one has had their money refunded by passing the challenge to date. So either they know it is not possible to pass it.....or they are confident that their will be only a couple people will do it.....or it is a complete marketing scam, and they don't intend paying up no matter what you do...haha.......haha...I guess we will find out.

In regards why would I try it even thought I understand price action....very simple....I am always looking for another edge, and plus it seemed like a win/win offer for me. Anyways, I don't intend to let them slide.

Reply With Quote
The following user says Thank You to usdivers for this post:
 
  #8 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,714 since Jun 2009
Thanks: 741 given, 7,235 received
Forum Reputation: Legendary


usdivers View Post
...
..., and you could keep the system....

maybe they can afford to give it away because they employ some cheap coder

Attached Thumbnails
I am taking the Counterpunch Challenge-2018-02-02_1611.png  
Reply With Quote
The following user says Thank You to cory for this post:
 
  #9 (permalink)
Elite Member
Darwin
 
Futures Experience: Advanced
Platform: Ninjatrader
 
Posts: 53 since Sep 2009
Thanks: 54 given, 26 received

ID


cory View Post
maybe they can afford to give it away because they employ some cheap coder


that is the ID for their main indicator.

Reply With Quote
 
  #10 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,714 since Jun 2009
Thanks: 741 given, 7,235 received
Forum Reputation: Legendary



usdivers View Post
that is the ID for their main indicator.

just a trick question, I already know the cause for that weird number

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

Reply With Quote

Reply



futures io > > > I am taking the Counterpunch Challenge

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)
 

Fundraiser: Feeding Families in Need (ends Dec 17)

December
 

Ask Me Anything (Brokers & Platforms) w/Ilan Levy Mayer @ Cannon Trading

Dec 13
 

Battlestations! Show us your trading desks w/GFF Brokers ($750 in Prizes)

January
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Taking partial profit danjuma IB Trader Workstation 0 May 11th, 2015 04:17 PM
What is your profit taking strategy? lovetotrade The Elite Circle 26 January 7th, 2015 11:34 AM
Taking a break from trading Big Mike Traders Hideout 26 September 30th, 2014 11:35 AM
What is your profit-taking point? JohnnyAustin Emini Index Futures Trading 11 April 16th, 2011 10:31 PM
Taking off and Holidays? Mrmichaelzz Off-Topic 1 December 24th, 2010 11:45 AM


Tags
ats, breakout, cl, code, dom, fractals, futures, indicator, indicators, information, jigsaw, live trading, momentum, nq, price action, profitable, review, scalper, scalping, signals, sim, sim_trading, tapatalk, trade plan, trading, trading room, trading videos, trend, type, update, vendor, win ratio

All times are GMT -4. The time now is 03:05 AM. (this page content is cached, log in for real-time version)

Copyright © 2018 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2018-12-13 in 0.20 seconds with 15 queries on phoenix