In the past he had a trading room accessible for free, but it seems to be on a paid for subscription basis now. I've read one of his books many years back and found it interesting and I like how he seems to back his stuff with statistical data. He has some good articles for free as well.
However, a $200 per month subscription is not something I'm interested in paying for that now unless someone here tells me otherwise.
Normally, I'd be very skeptical. Since I have past knowledge of him and remember him as a great guy who seemed to know what he's doing, I'm more like cautious.
But I probably won't go for it unless I hear from some other credible source who used it. Frankly, with all the activity here, I'm surprised that most people here don't seem to know anything about this guy.
Regards,
Howard
The following user says Thank You to Howard Roark for this post:
Can you tell us some more? Did you take the Blueprint course?
I did get in touch with Lawrence, but to be honest, I got the feeling he was trying to sell me something. Especially since he made all kinds of assumptions about how my current methodology was lacking (I'm profitable actually). Since I already have a methodology, I didn't bother. I would however love to be part of his trading room. But the price tag is too high right now.
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: My own custom solution
Trading: Emini Futures
Posts: 49,757 since Jun 2009
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Hi guys,
It is my pleasure to welcome Lawrence Chan @ DaytradingBias for our 368th webinar event, on Tuesday, November 12th @ 4:30 PM Eastern US.
The title for the event is "Day trading the E-mini S&P the Smarter Way", and bullet points include:
- Education: Traditional Way vs the Smarter Way
- Tools to Get the Trader Where They Need to Be
- Premium real-time Trading Signals
- Books for building a strong foundation
- Trading Success Blueprint w/DaytradingBias
- The E-mini S&P Day Trading Course
- Attend Live to get all your Questions Answered
I have always found Lawrence approach to trading helpful and insightful.
I like his honest approach and read his blog.
Thank you Lawrence. One of the credible guys in the industry i feel.
best
John
The following 5 users say Thank You to JBWTrader for this post:
I'm taking time here to give a heads up to those asking to know more about Lawrence Chan's service from someone with an intimate knowledge of premium membership. He doesn't know I'm making this post. I've never met him and only briefly spoken with him once over the phone (about a technical platform issue), and that was about 10 years ago, BUT I have been a premium member from the inception of his daytradingbias service. I'm 69 and have been around the industry a long time and appraised many vendors. I've listened to the short webinar and see a need to explain in my own words what its like to be a premium member.
The first and highest value I place on premium membership is access to his typed, real time commentary on ES and NQ running about 9:15 ET to 10:30 or 11:00 then usually resuming in a check back and refinement of his prognosis at noon. Length varies depending on the market. His opening pre-market comments are profoundly well-informed in anticipating the day. He usually defines what the confirmations would be in price action for the market to go up or down, referencing real-time self-adjusting S/R levels based on his book "Special Theory of Price Discovery." He has an uncanny ability to recognize who is in control, what time-frame players are dominant, and how the day may unfold. He tends to focus on trading the larger intraday swings, giving expected targets.
Those S/R levels appear in two ES and NQ Price Levels charts that premium members can open on our own screens, along with two other windows, Es Real-Time Trading Assistant, which fires realtime signals from his many statistically-verified indicators while also showing a few key, changing market metrics, and the Emini S&P Real-Time Custom Market Breadth window, which is something he developed to create a superior $TICK, divergence which is a strong tell for market reversal marked real-time on the chart.
Lawrence is effectively a high-end hedge fund manager who has reached a level of advanced automation and intense, historically-verified backtesting that he has been generously sharing with retail traders. His website cost over $100,000 to develop that capability and for years it cost next to nothing to enjoy his magnanimous services. He's finally moved up to charging more realistic prices for his lifetime of advanced attainment and the courses he's put together to systematically teach traders how to succeed as a business.
I introduced a man who was my trading partner for awhile in Skype, who also happens to be the Client Service Mgr. of an expensive trading suite, to Lawrence's services a few months ago. He wrote me last week (without any inquiry on my part), "It's amazing how "naked" I feel without Lawrence's commentary. I am so tempted to invest in his emini daytrading course. I've been mulling it over lately."
There is an inexhaustible wealth of insight on his website that shows the stats on almost every tradeable aspect of the markets. I think the reason daytradingbias has been a sleeper in the industry is because he has not made himself audibly available, as he has a strong Chinese accent. For example this futures.io webinar is only 1 of 2 I'm aware of his ever making. The other webinar was for premium members explaining just 2 indicators, Bull Charge and Bear Strike, showing different equity curves backtested over a decade depending on the various ways they are traded. These are "tells" in the market appearing often at 9:45 or 10, with beautiful equity curves, just a few of his indicators that detect events, which print their signals in Real-Time Trading Assistant, often along with the % odds ES or NQ will reach a certain price that day. Advanced stuff.
I presumptuously thought I already knew "The Art of Chart Reading" but upon reading the book discovered it has keen insights into how more precisely to define patterns and how to manage in terms of projection where targets should be, as well as how to cascade multiple time frames when a "waterfall" sets up where smaller time frames trigger larger time frame cycle extension.
Don't let the specials fool you. The one week $1 price belies the value. "The Art of Chart Reading" is well-worth more than the regular price of $38, and a chance to explore his Premium serve for 75% discount (effectively $50), to load the real-time charts, to follow his live, printed chat commentary, to watch the same market breadth that the institutions he has served are using, and to watch the ES NQ real-time levels list where they converge to create strong S/R levels, automatically marked with deepening shades of red, based on the extent of convergence, will help those exploring daytradingbias analyze the extent of what they're missing.
I've missed a morning of prime time trading to make this post but its my payback to the modest Lawrence Chan by sharing with you that the rarely heard voice you heard in this webinar is that of a man who created his own trading platform to do advanced market analysis for institutional clients. Unlike most vendors, he's coming from a position of success to share with retail traders how to beat the institutions at a game with tools he has provided them as his clients, as he disclosed in the webinar with respect to the Real-Time Market Breadth.
Those relatively few of us who know who he is won't be benefited by his becoming know to a broader field of traders who begin to also interact with him, but such is my level of gratitude for what he's done for me, and my respect for the spirit of futures.io to give back to this community what it has provided me.
The following 16 users say Thank You to profitpilgrim for this post:
Having followed Lawrence's writings and commentaries since before he moved from Tickquest to set up Day Trading Bias - probably more than fifteen years now - I can strongly endorse "prophetpilgrim's" remarks as to the value of the service he is providing. In addition to the pre-market and real time analyses the site displays several hundred articles written by Lawrence that provide so many trading insights and examples of market biases that can lead to profitable trades. All in all, great value for money.
The following 3 users say Thank You to ultramarine for this post:
I received this private message this morning but elected to answer here for the benefit of all.
" daytradingbias.com
Hello profitpilgrim,
Thanks for your thread comment/review of the daytradingbias webinar last week, I signed up to have a look at their premium service. I just found out today how extensive the information are inside the premium area. I will be exploring them in the next days and weeks.
I have a few questions to you (if you don't mind answering, I will really appreciate): Do you have info about those courses (Trading Success Blueprint and Emini Day Trading Course) and do you needs them? I was also able to get from Amazon his price action ebook but I am already a bit familiar with those price actions that he mentioned there. Are the trading setups recommended in the Signals tab good enough to be traded? How can I learn more about those strategies? Some of his indicators are also for Tradestation only?
btw, I have been trading for close to 15 years (stocks and options) now but is now considering trading ES, that is why I was exploring futures.io for this, and I saw daytradingbias.
Thank you again in advance for your time.
Wishing you success in your trading.
Ronnie "
Answers: Q1. Do you have info about those courses (Trading Success Blueprint and Emini Day Trading Course) and do you needs them?
I have not taken those courses, funds permitting they are high on my wish list. Because I have so long been a daytradingbias premium member I may have picked up some of the concepts in Trading Success Bluerpint but do not know what it contains from experience. I'm anxious to get the Emini Day Trading Course. Lawrence rigorously backtests everything and his backtests indicate that trading the available strategies mechanically is comfortably profitable longterm, (He often tests between 1o- to 20 years of data.) For that reason, that is the consistent profitability of mechanical systems, yes I "need" the Emini Day Trading Course. The more non-correlated profitable strategies one has, the more robust and profitable one's overall trading will be.
Q2. Are the trading setups recommended in the Signals tab good enough to be traded?
Yes, in two different ways.
A) The individual setups that appear in the ES Real-Time Trading Signals window are explained in detail on daytradingbias.com, with equity curves and stop levels, so they can be traded independently if the risk parameters used in the testing are used. Scalper should not assume their own scalping risk levels are appropriate for the Real-Time Trading Assistant signals, as they are more typically referencing the larger swings that occur within a day, as well as some multiday swing trades that pop up.
B) When one sees a preponderance of Green (or Red) signals in ES REal-TIme Trading Signals it portends a directional bias overall, and some of the indicators indicate a Trend for the day is underway. These signals often occur at 10 a.m., 1/2 hour after market open.
Q3. How can I learn more about those strategies?
Non-members have access to every day's history of signals at Emini S&P500 Trading Signals | DaytradingBias.com , and today's if you're a premium member. There are four tabs on the page "Emini Trading Signals" (not the same as the ES Real-Time Trading Assistant which is realtime). Thoe four tabs are "Member-Only Signals, Premium Models, Real-Time Tools, Daily Cheatsheets." Member-Only Signals lists all the End of Day Swing Models and End of Week Swing Models and their Signal Status, Flat, Short or Long and at what time and price.
The second tab, Premium Models lists all the Setups already in position from yesterday and a tally of their overall bias, for example yesterday projected 4 setups, 1 bullish, 3 bearish going into todays open. Premium Models tab also lists Season Biases for the current and next month. All of this items have a direct link so the user can go directly to the explanation of the signal, the backtest parameters that were tested (sometimes more than one set and their respective equity curves).
The third tab, Real-Time Tools, has links to the four realtime windows available, that is, ES Real-Time Levels, NQ Real-Time Levels, ES Real-Time Trading Assistant, and ES Real-Time Custom Market Breadth.
The forth tab, Daily Cheatsheets has 12 detailed cheetsheets on the Future, the ETF and the Cash index for each of ES, NQ, YM, TF, each cheetsheet too detailed for me to enumerate here, but you can see historic examples now as a non-member if you go to Emini S&P500 Trading Signals | DaytradingBias.com and click on the Cheetsheet tab.
Q4) Some of his indicators are also for Tradestation only?
The first set of coded signals available with the Emini Day Trading Course were translated to Tradestation EasyLanguage from their originals in NeoTicker, the platform Lawrence himself created at Tickquest.com, with which he is no longer associated, having focused entirely on trading with the platform he created for that purpose. NeoTicker code is also available to NeoTicker owners. Lawrence is engaging Ninjatrader coders now to provide the code for Ninjatrader user.
If you sign up as a free member of daytradingbias.com you have access to some free code, including STOPD levels indicators in Ninjatrader, Metatrader, Tradestation, and NeoTicker that draw plots on your own charts at significant STOPD (Special Theory Of Price Discover) levels.
As you can see, there is a lot more "under the hood" for both free and premium members of daytradingbias. as Ronnie in his list of questions also discovered. It is a much more complex website than the new-comer can comprehend, hence my explanation in response to Ronnie's question. I consider it a magnanimous initiative to raise viewers' trading skills, risk management, and trading business management to that which can survive over the long term by trading well-tested and quantified strategies.
That said, I have been a very aggressive, counter scalper so it has taken me time (and bruises) to learn to use the multiple time frame methods taught in Lawrences "The Art of Chart Reading, and to integerate the day's overall swing bias with my shorter term scalping timeframe. The 3 timeframes I now integrate are the 30 min dominant trend, 5 minute main timeframe, and 1 or 2 minute entry exit timeframe. I've learned from convergence of Real-Time Trading Signals, while also monitoring Lawrences realtime chat comments, to backoff from my small timeframe when larger time frames and their class of more influential traders are impacting the market, causing Lawrence's signals to fire off, especially if there is a preponderance of signals one way or the other.
The following 6 users say Thank You to profitpilgrim for this post:
Some very good and informative comments here since the last time I logged on.
Thanks.
I'm considering the premium signal membership - particularly for the live commentary and signals. Would have been great if a 1-week trial were possible for a small fee instead of having to pay for 3 months up front from the start.
The following user says Thank You to Howard Roark for this post:
I took a one month trial, but did not continue. During my trial there was very little live commentary and it was usually just within the first hour. The signals are nice, but there are so many of them and sometimes divergent. I guess as someone who is a short term trader, I won't get the most out of his site. He has a lot of setups where you go long or short at the market on the open and hold the whole day. I am more of a scalper.
The following 3 users say Thank You to rstrau for this post:
I just recently found FIO. Unfortunately, this was well after the webinar and $50 trial.
After reading everything @profitpilgrim was kind enough to provide, I'm still considering the membership. (If I do, I will let everyone know how it goes).
The following 3 users say Thank You to AtpGu4Y for this post:
does he have his dome up for the world to see him trading size in his own account during the time periods you referenced . has he showed his third party audited brokerage statements where he has made tons of money trading this system. back tested results do not mean much .
