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Daytrading.Coach Review


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Daytrading.Coach Review

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  #131 (permalink)
Kharkiv, Ukraine
 
Experience: Intermediate
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I'm truly shocked that some people are paying money for that fancy coloured rubbish on the screen.

This must have common ground with religion and mythology in general.

Noobs, don't pay a single dollar to any "system" vendor/guru! Never!

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  #132 (permalink)
Legendary Market Wizard
Montreal, Quebec
 
Experience: Advanced
Platform: NinjaTrader 8
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jeliner View Post
The horizontal boxes? Those are supposed to be support and resistance areas. Not sure on the premise that the are created on.

From the looks of things this is likely using a fractal type indicator, which can easily be reconstructed using the stock version of the Swing indicator native to NinjaTrader.

Bill Williams defined a fractal as a swing high or low with a swing strength of 2. This means that a swing high bar must have a higher high than the two preceding and the two following highs. A swing low fractal should have a lower low than the two preceding and the two following lows. However, the setting here will be MUCH higher.

I need to get my trading PC fully functional (a hectic weekend of moving province) but from spending a few minutes with it, I suspect the setting is around 70 to 90 (I thought 80 appeared to look similar) or something in between. It appears that they have added a ''thickness'' to this Swing line, something like 25 which would give you a 4 tick ''range'' on the RTY. They have also added transparency to it as well.

You would have to modify the existing Swing indicator (which is very easy to do) to make it appear transparent, or you can just use the settings below to get the lines appear solid but with thickness. If the lines end up covering your bars, click on the line in your chart, hold shift and roll your mouse wheel to change the layer it appears on. You can then proceed to ''move'' the lines behind your bars.

Right now I am not really setup to look into it further, so experiment and see what you come up with.

EDIT: The location of these horizontal bands will of course differ depending in what data series and bar type you are using. That is, if I am even correct to what this indicator is or is similar to.


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  #133 (permalink)
Legendary Market Wizard
Montreal, Quebec
 
Experience: Advanced
Platform: NinjaTrader 8
Broker: Kinetick
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speck View Post
I'm truly shocked that some people are paying money for that fancy coloured rubbish on the screen.

This must have common ground with religion and mythology in general.

Noobs, don't pay a single dollar to any "system" vendor/guru! Never!

I want to be fair to Day Trading Coach here. The only thing that has been discussed in this thread is their indicators and the fact that plenty of evidence is available to suggest that the "LIVE" trades they have shown (whilst fully indicating they are real live dollar trades by mere title of the videos, commentary and using the LIVE DOM colour in NinjaTrader) were in fact taken from a SIM account.

In addition, they appeared not to like this very much and sent a cease and desist to the incorrect person, which is troubling in of itself. This will no doubt take a life of its own once the correct bodies have all of the information which I am putting together for them now upon request.

It was only after that, this thread literally blew up and here we stand today.

As far as the DTC ''system'' or ''training'' goes, there hasn't been much discussion on this at all. Sure, the indicators are simple and they do have a ''system'' to follow of which I have been given first hand accounts of exactly what they are teaching and how. At some point I will discuss it here, but to be honest this thread is exhausting!

The most pertinent questions a new trader should be asking themselves about this vendor and any vendor is;

a) If the vendor is trading their own system, posting videos to ''prove'' it, lauding about profits and how easy it all is - why don't they also post their brokerage statements as well?

b) If the vendor is promoting anything about becoming a millionaire (which this vendor actually is) you have to use your own fair reasoning to how credible that reality is. It doesn't take a math genius to extrapolate a hypothetical trading model and I can tell you this - it ain't gonna happen trading the RTY anytime soon. Not in a year and probably not even in 5 years.

Again, if I get the energy I'll put something together if only to steer potential new customers into making the right decision and/or at the very least know which questions to be asking to any vendor before parting with any money.

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  #134 (permalink)
Casselberry, FL
 
Experience: Advanced
Platform: NinjaTrader, ThinkorSwim
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aprilfool View Post
Thanks for posting the business registrations. After my extensive google search I did reach a conclusion that there was some link between family first dynasty and DTC. Its good to have confirmation.

On a side note Earn2trade is based in the same building as family first dynasty. Earn2trade address on their website is - 30 N Gould St STE 4000, Sheridan, WY 82801. Looks like that building is hub for trading company.

I hope you will able post the details for the indicators.

My guess is that the address is a registered agent for the company. This is standard practice for companies that do not have a fully staffed office or work from their residence. I found Wyoming Mail Forwarding LLC is at this address.

Wyoming Mail Forwarding LLC | Business & Management Consultants - Upper North Platte River Valley! - Saratoga/Platte Valley Chamber of Commerce - Upper North Platte River Valley! - Saratoga/Platte Valley Chamber of Commerce

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  #135 (permalink)
Legendary Market Wizard
Montreal, Quebec
 
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Why you will never become a millionaire trading the RTY



"We Teach Day Traders to be Millionaires"'

When a new trader sees a tagline like this, their head is filled with the notion that trading is simple. Just pay the vendor a ton of money, put a bit of work in and all their dreams of living a millionaires lifestyle is just around the corner. The problem is, this just isn't reality. At all. And I'll prove it.

If only new traders were aware of simple mathematics instead of listening to vendors about how this time next year they will be sitting in a new beach house in Maui. It ain't gonna happen people.

You can spend an exorbitant amount of money to become a member of the "Millionaires Club" over at DTC but the chance of it ever happening to you whilst futures trading...and especially trading the RTY...is slim to none.



Let's assume that you are following DTC and trading the RTY. That appears to be the instrument of choice so let's analyse.



Assumptions
1. $10,000 USD starting account balance. This is likely too low to start out trading futures but let's assume this as a starting point.
2. Your intraday margin is 50% of the maintenance margin. Meaning that if you divide $10,000 by 50% of the maintenance margin ($3,250) your starting number of contracts is only 3. Yes, yes I know the intraday margin is actually $500.00 but if you overleverage yourself this way you are just being ridiculous. And remember you are new trader. This is to help protect your account.
3. Weekly net gain is 1.00% of your account. This is a VERY reasonable expectation for a new trader.
4. You can only increase the number of contracts traded when your account balance can support the next jump in margin. For example, to start trading 4 contracts you will need have enough accumulated profits (in this case you account value needs to be $13,082.09 - in other words a profit of $3,082.09 net in your account) so that the account value ($13,082.09) divided by the margin ($3,250) = 4.03 (so 4 contracts)...and so on.

The above assumptions are very reasonable. Let's see how that extrapolates shall we?



Mmm. After 200+ weeks of trading, not exactly millionaire status is it? And already you are starting to trade more contracts than currently sit on the average RTY per price level, especially when you start getting into the 20 contract range. I have discussed why this a ridiculous fašade that Jovan has created. Trading more than 20 contracts in the RTY as an individual trader is getting beyond the realm of reality. Of course his number of contracts are in SIM, so he doesn't have to worry about that.

Don't like what you see? Okay, lets assume you can make 2% net gain week over week over week. Wow. Would you look at that. You now own the e-mini Russell. You are literally providing more liquidity than the average number of contracts that total across the 10 levels of DOM.



I will slice and dice these numbers however you want me to and I'll extrapolate the graph accordingly. But this is reality people, sure it might only be ''a'' version of reality but at least it is a realistic one.

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  #136 (permalink)
Legendary Market Wizard
Montreal, Quebec
 
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Another message, from a different DTC member came through via Big Mike and bobwest.

I do not know any more details other than what is being said here, but it is posted for all to see.

Right now, I cannot verify what is written below. I will touch base with my clan from Calgary tomorrow to see if I can shine further light on this. It could be real, it could be not.

It does appear that the Facebook and Twitter feed for Day Trading Coach are still active and posting up until today, but I am not sure who is responsible for posting these updates.

Some other DTC members have stated to me that Jovan hasn't posted any charts to DTC since November 06. Coach Lane hasn't posted any charts since November 02 (apparently he has removed Day Trading Coach from his LinkedIn profile [unconfirmed as I don't have LinkedIn]) and Coach Jacob hasn't posted any charts since October 19, but he apparently still ran a DTC class this morning.

Out of respect here, if Jovan (or whatever his actual name is) has had a stroke and it is real, I wish him a speedy recovery. I truly mean that, after which he can hopefully have a discussion with the Alberta Securities Commission once they start their investigation.

If he is lying about the stroke (the suspicion of course is that he is lying and has skipped town) then this would be quite a despicable act.


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  #137 (permalink)
Legendary Market Wizard
Montreal, Quebec
 
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In continuation of the post above @Doggo712345


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  #138 (permalink)
Arlington Texas
 
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Posts: 27 since Nov 2016
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This Jovan - Fernando Fagundes thing is a bit disturbing. When I signed up for his course, he required a lot of extra ordinary information from me. From all the videos of his successful trading I was sold on the idea that I finally found something, so I was more complicit than I should have been with information that I should not have provided. For example, I had to send an email to him with my drivers licenses as a scanned image. Now that he has that and has attorneys investigating me to find out where I moved is quit frankly concerning. If he is really using other identities to commit fraud, what's going to keep him from using my personal information down the road to do the same thing?

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  #139 (permalink)
Arlington Texas
 
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So, I am getting a few direct messages from DTC members who also bought into the program.

So now it appears that there are bunch of people who bought into this program, which main benefit came from a set of custom indicators behind locked code. My entire DTC package was disabled and indicators do not work. Is there any remedy available for software that was purchased like this to get them unlocked so they can be used? I will call NinjaTrader support tomorrow with that very question and see how it goes.

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  #140 (permalink)
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Let's see if it used @NinjaTrader's licensing, and what they have to say about this given the situation.
jeliner View Post
So, I am getting a few direct messages from DTC members who also bought into the program.

So now it appears that there are bunch of people who bought into this program, which main benefit came from a set of custom indicators behind locked code. My entire DTC package was disabled and indicators do not work. Is there any remedy available for software that was purchased like this to get them unlocked so they can be used? I will call NinjaTrader support tomorrow with that very question and see how it goes.

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