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Target Trader (www.proequitytrader.com)
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Target Trader (www.proequitytrader.com)

  #1 (permalink)
Elite Member
hk
 
Futures Experience: Beginner
Platform: ninjatrader
 
puppeye's Avatar
 
Posts: 56 since Aug 2009
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Target Trader (www.proequitytrader.com)

Has anyone tried ProEquityTrader.com ? They use a stoploss of 10 ticks and a profit target of 2 ticks. The risk to reward sounds pretty bad. Expectancy is negative even if it has a 80% winning rate. But some people have reported that they have tried it for 3 weeks and have not seen one single losing trade. Typically 3+ trades per day for ES. Trading hours are between 9:30 - 11:30.

Any comments will be appreciated.

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  #2 (permalink)
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  #3 (permalink)
Elite Member
Brooklyn, NY
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: Mirus/IB/FinFx
Favorite Futures: ES, Forex
 
babypowder's Avatar
 
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ProEquity Trader


I have not tried Pro Equity Trader but Wow, you would need a 90 plus percentage working with those ratios. If your stop is large enough with a small target like this, law of probability will be on your side. But again you can place your order anywhere and you can get the same results. Maybe someone who has tried them may chime in.

Babypowder

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  #4 (permalink)
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Futures Experience: Intermediate
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Favorite Futures: ES, Euro
 
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I got interested and wanted to go and see what they were doing. They trade TF and ES on 4 range chart. They do take 2 ticks on each trade. During my stay in the room he had no stop outs, but I did ask about his stop and it is 10 ticks. No need to ask more. Moderator had no DOM showing when he was trading but entry were some what clear. His charts and indicators do look like what we can get in the forum such as SIM5, MACDBBline and TSSuperTrend and ADXMA would make your chart look like his, or very close to it. Hold for all to go red to short blue for long and you are in business if 2 and 10 is your goal in trading. Read Sharky, or Perry set ups would do just about the same. They offer class for $4K and 6K WOW!!!
BTW people in the room did made very clear that they were making money. But I still have an issue with 10 points stop not the way I trade.

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  #5 (permalink)
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I am playing with a strategy from Rockwell Trading that uses similar parameters. 8 range chart, 2 tick target, 8 tick stop loss. And if you sat and traded it all day, you would lose big, but....

The trick is knowing based on the strategy, that you may have 2-4 winners and then a loser, which sets you back to a loss. So, first you set a realistic target for the day, say 8 ticks. Then wait for a losing trade. Now the probability is with you the next couple will be winners. Take the next to trades, and stop. Wait for the next loser, and then take the next two. Again probablility is on your side. Once you make you 8 ticks, QUIT.

This doesn't do bad.

Pete

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  #6 (permalink)
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Peter2150 View Post
I am playing with a strategy from Rockwell Trading that uses similar parameters. 8 range chart, 2 tick target, 8 tick stop loss. And if you sat and traded it all day, you would lose big, but....

The trick is knowing based on the strategy, that you may have 2-4 winners and then a loser, which sets you back to a loss. So, first you set a realistic target for the day, say 8 ticks. Then wait for a losing trade. Now the probability is with you the next couple will be winners. Take the next to trades, and stop. Wait for the next loser, and then take the next two. Again probablility is on your side. Once you make you 8 ticks, QUIT.

This doesn't do bad.

Pete

hmm... I am not convinced that's how probability works

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  #7 (permalink)
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Futures Experience: Advanced
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Pete, every trade is a new decision--just like every roll of the dice, or each toss of a coin. What happened before has no bearing on what will happen now.

I would be more than interested to see the data that supports the idea that probability of a winner increases after a loser or vice versa in this method.

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  #8 (permalink)
Just starting out...
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Futures Experience: Intermediate
Platform: NinjaTrader
Favorite Futures: TF & ES
 
Posts: 6 since Jul 2010
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Hey! Yeah, I trade their system.
I was concerned about the 10 tick stop at the beginning and tested a 5 tick stop, which just didn't work (in my opinion). The TF is so volatile and needs a bit of room to do its thing. I didn't trade the ES for very long when I first began because it just moved too slow and I prefer to be done before the first report. But, 8 or 10 seems to be a good stop. I have been using a trailing stop on the TF and it is working awesome. Sometimes it will stop me at 3 ticks profit, other times I'll take 10+. My stop is set at 10 ticks and moves up to 1 when it hits 3 and trails 2 behind the profit. Honestly, I don't remember the last time I was chopped so the stop is not much of a concern to me. But, I also play super safe with my trailing stop and eliminate being chopped by having such a close trailer.
Wow, it is late! Hope that made sense. :-)

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  #9 (permalink)
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TraderBee,

Congrats on the success with your TF trades and this system!!

Sounds like you trade the first half hour (at least on report days). Can you share with us how long you have used this system, largest draw down experienced, average tick size win/loss, etc.

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  #10 (permalink)
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gulabv View Post
TraderBee,

Congrats on the success with your TF trades and this system!!

Sounds like you trade the first half hour (at least on report days). Can you share with us how long you have used this system, largest draw down experienced, average tick size win/loss, etc.

TraderBee, no offense, but when a new poster comes to a forum and praises a vendor I get skeptical. I think shill.

How about posting your daily trading blotter next week to put some teeth into your claims of success using this system?

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