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coiled markets review (www.coiledmarkets.com)
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coiled markets review (www.coiledmarkets.com)

  #11 (permalink)
Trading for Fun
Ohio USA
 
Futures Experience: Intermediate
Platform: Ninja, T4
Favorite Futures: futures
 
Posts: 65 since Jun 2013
Thanks: 23 given, 64 received


Daytrader50 View Post
... Is it possible he has improved it since the 3 yrs you guys tried it?

I recently took his course. My info is recent on my above post.

Avoid. Save your money and time. You will waste lots of time on this. Search google for breakout trading or check my book link and you can get started right now w/ zero/small cost.

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  #12 (permalink)
Elite Member
San Diego, CA, USA
 
Futures Experience: Intermediate
Platform: Sierra Chart
Favorite Futures: CL, ES
 
Tiger45's Avatar
 
Posts: 309 since Sep 2010
Thanks: 203 given, 422 received

Daytrader 50, you've been give some really good advice here. I took his "course" in August, so no, it hasn't been improved.

He looks for triangles (he calls them apexes) on a 250 tick chart. His definition of a triangle is when two 5-bar pivots contract, forming a LH and HL. Then he will trade the break of the triangle. That's it. No triangle, no trade. When price contracts and breaks, it often doesn't do it cleanly. Austin gets chopped up frequently, then blames it on algorithms. Or low volume. Or...whatever.

Study classic chart patterns as was recommended, or study any of the numerous systems being given away for the cost of an Elite membership on futures.io (formerly BMT).

His 233% fib road map values do get hit frequently as he says, but what he doesn't say, as was pointed out, is it might take all day, or price will come back through your entry point and stop you out before reversing to the road map. Also, if the opening candle is a WRB, his road map values are much less likely to get hit.

In my opinion, the ONLY thing he teaches that is worth anything, and it is very valuable, is you need to hold for larger targets. He shoots for 40 ticks per trade with a 10 tick stop. This is what keeps his head above water. Nothing else.

The connection to the room will likely cost you an additional $30/month. He doesn't tell you that in advance. For the most part, the room is dead. Even Austin doesn't talk much. He admits that there isn't much educational value in his room: Commonly Asked | CoiledMarkets.com

His team forum is equally dead. He rarely posts on it.

Right now he's running his 'Skins Game'. He got 9 people to pony up $2,000 and he was going to trade their money live for 6 weeks, with the goal of doubling the money and returning the original $2k back to the participant (free education!). You could watch him do that in his room, starting in September. At first he posted his trades and even a couple of brokerage statements. He stopped doing that long ago, after he fought his way back to even after a $2k draw down. I think his last mention of the account balance was he was down ~$600. He had a good day in the TF a couple of days ago, and posted that on his public blog. It's now the middle of October. No trade details have been posted, no brokerage statements, no nothing. Read between the lines.

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  #13 (permalink)
Trading Apprentice
DELRAY BEACH
 
Futures Experience: Intermediate
Platform: Ninja Trader/MT4
Favorite Futures: Gold,Eur/USD
 
Posts: 41 since Jun 2012
Thanks: 19 given, 15 received

I just got a bad feeling about coiled mkts.


Tiger, you gave a very good synopsis. Well, I think he is also involved with a prop trading deal, and anyone involved with prop rooms is not for me. Might as well burn your money. But overall, something else (maybe price) just left a bad taste in my mouth. I could not recommend. In fact I got sour with him so fast I forgot why I ran away from his course. -)

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  #14 (permalink)
Trading Apprentice
DELRAY BEACH
 
Futures Experience: Intermediate
Platform: Ninja Trader/MT4
Favorite Futures: Gold,Eur/USD
 
Posts: 41 since Jun 2012
Thanks: 19 given, 15 received

Also....

One thing as I Googled coiled markets again is that back in 2008 people were wary of his $2000 asking price. Then it went down to $1000. Now its like $497. And when you go to his home page, there isnt much clarity on how his system works. Hes really shooting himself in the foot by not telling people exactly what kind of system it is.(He never says its a fib system!) For fibs as I just posted, I will take Carolyn Boroden and her $20 book called Fibonacci trading over anyone's fib course.

Im not saying the guy is not honest, just too many "blind spots" I cant see around. In fact the question asked of him that he actually prints out that asks him why no free trial, and more disclosure was really good and he had stones to even put that on his home page I tell you that.

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  #15 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,185 since Jun 2009
Thanks: 626 given, 6,253 received


Daytrader50 View Post
...
Im not saying the guy is not honest,...

very slippery guy, hint: look at his disclaimer and the funny way he structures his one-man "corporation".

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  #16 (permalink)
Elite Member
Studio City
 
Futures Experience: Advanced
Platform: NT
Favorite Futures: ZN, ES, GC
 
Posts: 51 since Mar 2011
Thanks: 1 given, 37 received

coiled markets Austin Passamonte

the site seems closed, but after doing further research, I found Austin Passamonte on his "trapper" site. apparently the guy is a real creep and kills hundreds of animals for fur:

About Us :: ModernTrapper.com

That ends any appreciation I could have for that despicable person.

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  #17 (permalink)
Elite, not Elitist :)
San Diego
 
Futures Experience: Beginner
Platform: NinjaTrader
Broker/Data: AMP / CQG
Favorite Futures: CL, ES, NQ
 
BeachTrader's Avatar
 
Posts: 339 since Nov 2011
Thanks: 153 given, 401 received


crosscreek View Post
the site seems closed, but after doing further research, I found Austin Passamonte on his "trapper" site. apparently the guy is a real creep and kills hundreds of animals for fur:

About Us :: ModernTrapper.com

That ends any appreciation I could have for that despicable person.

Ugh, some of the photos show animals in the traps. Don't understand that at all.

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  #18 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,185 since Jun 2009
Thanks: 626 given, 6,253 received


crosscreek View Post
the site seems closed, but after doing further research, I found Austin Passamonte on his "trapper" site. apparently the guy is a real creep and kills hundreds of animals for fur:

About Us :: ModernTrapper.com

That ends any appreciation I could have for that despicable person.


not the same guy, you mix up between "more" and "monte" but take a a look a this ludicrous disclaimer https://web.archive.org/web/20131024063526/http://coiledmarkets.com/blog/cm-industry-standard-disclaimer/

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