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daytradingthefutures.com review

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  #1 (permalink)
Cape Town, South Africa
 
Experience: Advanced
Platform: ninjatrader, ensignsoftware
Broker: ampfutures/Zen-Fire
Trading: 6E, Cl, TF
 
Posts: 120 since May 2010
Thanks: 15 given, 51 received

a trader made 2000 tics in 3 weeks with Day Trading The Futures

they give free day trial

any insights appreciated

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  #3 (permalink)
Osaka
 
Experience: Master
Platform: Ninja
Broker: IB
Trading: Stocks
 
MrBean's Avatar
 
Posts: 109 since Jan 2010
Thanks: 26 given, 24 received


The dude's name is Wireman , you have to Wire him $500 a month to look at his charts. There is an old thread about the service here: Forums - Jay Wireman scammer

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  #4 (permalink)
Louisiana mostly
 
 
Posts: 10 since Aug 2010
Thanks: 3 given, 18 received

LOL his site looks like a 3rd grader coded it for Netscape 1.0 Made with "webpage-maker" for people who don't know any HTML, won't take the time to learn the basics, and don't have the money to hire a professional designer. I would have trouble believing there's a highly-successful master trader behind that storefront.

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  #5 (permalink)
USA
 
Experience: Intermediate
Platform: Infinity
Broker: Infinity
Trading: ES, Euro
 
tickvix's Avatar
 
Posts: 232 since Feb 2010
Thanks: 137 given, 156 received

My friend and I had his sevice for six months we lost money. There is always an explnation to us why we did not make money.
He would never take any trade in front of his students, because I do not think he would know how. Jay would always make money at list that what he would say to us in the early morning between 3:00AM - 6:00AM. OK fine I have no issue with that. But if system is wourking I should be able to make money any time of the day.
Well we thought when we came to his room he would be the one who can teach us how to trade. We were wrong and $1500.00 later we know we were wrong!!! He is FULL OF.... you know what I do not need to end this...
Stay out and look for other free services if you like to know how to trade. The one I like is Gail from Traders Help Desk.
I found Gail from recomndation from some on on futures.io (formerly BMT). Great bit of information from futures.io (formerly BMT)!!!

Well this is my 2c to this post.

Oh one other point now you can buy his indicators for just under $1K.

TickVix/Gregory

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  #6 (permalink)
Osaka
 
Experience: Master
Platform: Ninja
Broker: IB
Trading: Stocks
 
MrBean's Avatar
 
Posts: 109 since Jan 2010
Thanks: 26 given, 24 received


tickvix View Post
My friend and I had his sevice for six months we lost money. There is always an explnation to us why we did not make money.
He would never take any trade in front of his students, because I do not think he would know how. Jay would always make money at list that what he would say to us in the early morning between 3:00AM - 6:00AM. OK fine I have no issue with that. But if system is wourking I should be able to make money any time of the day.
Well we thought when we came to his room he would be the one who can teach us how to trade. We were wrong and $1500.00 later we know we were wrong!!! He is FULL OF.... you know what I do not need to end this...
Stay out and look for other free services if you like to know how to trade. The one I like is Gail from Traders Help Desk.I found Gail from recomndation from some on on futures.io (formerly BMT). Great bit of information from futures.io (formerly BMT)!!!
Well this is my 2c to this post.
Oh one other point now you can buy his indicators for just under $1K.
TickVix/Gregory

What are the "institutional numbers" he talks about? Is it actually $500 pm or $250 ($1500/6)?

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  #7 (permalink)
Concord, NH USA
 
Experience: Intermediate
Platform: Ninja trader
Broker: AMP/CQG
Trading: ES
 
jdella's Avatar
 
Posts: 182 since Jun 2009
Thanks: 135 given, 113 received


MrBean View Post
The dude's name is Wireman , you have to Wire him $500 a month to look at his charts. There is an old thread about the service here: Forums - Jay Wireman scammer

Mr. Bean, you are correct about that site, and in that old thread you'll see me defending him, but after a month of being there, I found out otherwise. I lost my 500.00 tuition and also lost money trading his so called method. Anyone thinking this is the next best thing please beware, cuz it's not. He doesn't show his DOM and anytime there is a winning setup he would always say, " how many of you guys got that," after the fact, claiming that he just nailed it to the tic with 20+ cars, and many times the exact hi/lo tic of a move with size, c'mon. One will never know. You will always be a subscriber of his method because all you have is what you see on his screen, you don't have his indicators or know how he arrives at them, cuz they are "proprietary". I wish I could pull my post from Elite Trader, but I can't, so just be careful. Certainly it can't hurt you to evaluate this for yourself with the 3 day free trial. My 2 cents

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  #8 (permalink)
USA
 
Experience: Intermediate
Platform: Infinity
Broker: Infinity
Trading: ES, Euro
 
tickvix's Avatar
 
Posts: 232 since Feb 2010
Thanks: 137 given, 156 received


MrBean View Post
What are the "institutional numbers" he talks about? Is it actually $500 pm or $250 ($1500/6)?


We paid $1500.00 one time for 6 months.

His "institutional numbers" we do not know what they are since he would not show how he is getting them.

At the begining he would not even sell his indicators, but after we pressed a bit he made big favor and sold some of his stuff to us. Moreover at the beginning we only could go into his room to trade if we wanted to follow hos system. I did not like it much but my friend and trading partner wanted to try. By the way

now you can go on linen at symmetryindicators and get his stuff for only $695.00 what a BS. LOL

I'm using dinamic support and resistance and can get just about the same entry.

All in all he is full of it!!! We never were able to make money even when we follow his system to a T!!! I guess we just not good enough.

Frustrated yes!!! Sorry no!!! Just some additional cost of doing business.


TickVix

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  #9 (permalink)
WA,USA
 
Experience: Beginner
Platform: ninjatrader
Trading: ES,6E
 
Posts: 33 since Oct 2009
Thanks: 83 given, 42 received

Well first off i did spend a month in his room last year. With the hardware malfunction and his perfect 20/20 vision of the markets after the fact, I left. After studying his charts and such I came up with the following.

His Institutional numbers are just pivot points. The same as you can get on MyPivots for free. If I remember correctly they are PP-S1-R2.

The main chart is a 2000volume chart with 34ema

His symetry dots indicator is nothing more than swinghi-25 and swinglow+25 for currencies and swinghi-6.25 and swinglow+6.25 for ES.

Hope this helps someone else not to give him a dime.

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  #10 (permalink)
Louisiana mostly
 
 
Posts: 10 since Aug 2010
Thanks: 3 given, 18 received


Over the last few years I've seen more and more of these stories emerge, and the similarities are striking, to the extent that sometimes I wonder if there's a single scammer running 20 versions of the same game under different names for different audiences.

They all seem to have:

1. A magical mystical "proprietary" indicator, usually with its own pet name or trademark- this indicator often turns out to be some basic variation on a moving average

2. Cloak-and-dagger "institutional" connections - they claim to have worked for a major Wall Street firm or trade on the Chicago floor or whatever, they know the game from inside, trust them. Also their insider ties give them insight into what the "professionals" are gonna do today

3. Super-secret support and resistance levels - which end up being the normal Pivots or halfway between them

4. They personally always got in exactly at the low and out at the high, using their magical proprietary indicators - but it's always in restrospect, and on each trade they had to fudge their indicators to one side or the other to get the exact high/low tick

5. Subscribers are never able to duplicate the scammer's claimed results, and the scammer himself is never able to achieve said results in real time -- this is always blamed on the subscribers' failure to understand the system, or that they misinterpreted the scammer's advice (which is always hedged-- "we're coming into support but it may go lower unless it doesn't")

6. A live room where people ostensibly pay to watch the Master trade, or better yet, to trade along with him -- but he never shows his actual trading screen and never calls exact entries and exits in real time, just vague mishmash about coming into support or resistance, then points out that he got in at the bottom... after the bottom

These guys (this guy?) appear(s) to make loads of money off the never-ending flow of new blood, and appear to have subscriber turnover rates of about 100% every couple of months as disgusted people leave and new ones are lured in...

As technical analysts we look for patterns, and I'd say any sign of the above pattern emerging in a fee-based service is a clear signal to hold onto your wallet with both hands.

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