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Daytrading.Coach Review


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Daytrading.Coach Review

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  #11 (permalink)
Legendary Market Wizard
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aprilfool View Post
@JonnyBoy - Thanks for detailed response.

I have been following DTC from the beginning of 2020. I agree that youtube several videos have been removed, now only 4 remain which are not posted by Jovan. I also need to confess that I have been to "The Ranch". Initially, I thought that Jovan is posting all these videos and willing to have people over at his dwelling to showcase his methods, so there must be something is his system. Also, I'm a very curious person so had to go check it out. It was like any other trading seminar for the most part, they talked about there system, mindset, etc.... but there were several flags, so I decided to stay away from DTC.

I was still interested in there system and was trying to recreate their charts. Are you able to post the details of the indicator's?

Really appreciate your response. I will for sure stay away from DTC.

Day Trading Coach - Indicators

As I said in a prior post for some of the indicators, it appears that Jovan / Day Trading Coach used @Fat Tails FREE indicators via FIO for NT7 and then proceeded to convert them over to NT8. He renamed them in the process and started using the term Golden Falcon Trading Pro. I guess this sounds rather proprietary doesn't it. I have seen many iterations of @Fat Tails indicators get repackaged and sold for hundreds of dollars over the years and it is very disheartening to say the least.

I am not claiming the DTC system / indicator setup doesn't work. But, you don't need to spend $13k when you can replicate for a few hundred bucks. They will very likely counter with the fact that it isn't about the indicators but about the "training". Well, more on that in another post. I don't have time to get into that right now.

Ah yes the indicators. All of these indicators are available in the public domain which I have linked to in the attachments.

If you decide to proceed to build this up yourself, feel free to correct me where required.







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JonnyBoy View Post
Day Trading Coach - Indicators


Thanks. This is awesome.

I have been trying to recreate this for some time. I don't have the renko bars and the second trigger lines (in the pic above).The renko bars should be easy to get. I have been struggling with the second trigger lines, I think they are higher timeframe Tigger lines. I found a post on the NT forum where someone tired to code the MTF trigger lines with renko bars. They were trying to recreate the "large triggers" from the nexgent3 system.

This is the link to the post on NT forum - https://ninjatrader.com/support/forum/forum/ninjatrader-7/indicator-development-aa/86112-multi-time-frame-triggerline-indicator

Any idea on how to code this? Do you see any similarities?

I tried to plot the amaTriggerlines using a secondary data series but it did not work.

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I believe it could be more simple than that, providing two instances of the trigger line indicator has been applied to the chart.

The second trigger line instance will have different settings to the first combined with a square plot. I think anyway. I only have the NT7 version of Harry's indicators and I don't have my virtual workspace setup on my new PC yet.

As you have purchased the Lizard Indicators for NT8, you could always ask Harry or Kris via their website. You know with an aim to keep things separate from FIO....even though these were their indicators in the first place!

You have enough screen shots to make it bang up to the elephant, but I will take a look nonetheless if I get the chance this weekend to setup my VM.

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JonnyBoy View Post
You have enough screen shots to make it bang up to the elephant,

Funny phrase, never heard that one before, I had to Google it. Victorian slang, well what do you know

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Its always sad to see freely available indicators being repackaged and sold to masses. It is very unfortunate that honest hard work of someone else is used to commit such a frauds.

Thanks Jonny for bringing this to light.

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aprilfool View Post
Thanks. This is awesome.

I have been trying to recreate this for some time. I don't have the renko bars and the second trigger lines (in the pic above).The renko bars should be easy to get. I have been struggling with the second trigger lines, I think they are higher timeframe Tigger lines. I found a post on the NT forum where someone tired to code the MTF trigger lines with renko bars. They were trying to recreate the "large triggers" from the nexgent3 system.

I agree that @JonnyBoy did a great job of tracking down these indicators, but I would also caution anyone to not place that much importance on these or any other indicators.

They may in fact work fine, and from looking at the charts I rather think that they do. But no set of indicators is either essential nor enough to make anyone a success. You can literally trade successfully with one moving average (or two, or three, or none), and there are traders who post their work here in their journals who do. You can also trade successfully with a whole host of other indicators, and there are traders here who do. You know these are traders posting real results, by the way, because they admit their mistakes and show their losing trades too. (Just a hint on how to evaluate a vendor's claims....)

So it's great if anyone finds these indicators interesting and wants to give them a whirl, but becoming too attached to any one set of them is not necessarily a good idea.

And with that said, by all means use anything that lets you trade better. Just don't put the indicator or the chart type or whatever in the wrong place: none of these will make anyone a successful trader. Understanding what the market is doing, or at least how you can respond to what it's doing, is what will -- and at best, an indicator can help you with that, but nothing more.

Well, that's my opinion anyway. Do whatever works for you, and don't give too much attention to anyone's opinions either, any more than to their indicators.

Bob.

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matthew28 View Post
Funny phrase, never heard that one before, I had to Google it. Victorian slang, well what do you know

You can take the boy out of London....

You should have seen the look on my French Canadian friends face when he pieced that one together!

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bobwest View Post
I agree that @JonnyBoy did a great job of tracking down these indicators, but I would also caution anyone to not place that much importance on these or any other indicators.

They may in fact work fine, and from looking at the charts I rather think that they do. But no set of indicators is either essential nor enough to make anyone a success. You can literally trade successfully with one moving average (or two, or three, or none), and there are traders who post their work here in their journals who do. You can also trade successfully with a whole host of other indicators, and there are traders here who do. You know these are traders posting real results, by the way, because they admit their mistakes and show their losing trades too. (Just a hint on how to evaluate a vendor's claims....)

So it's great if anyone finds these indicators interesting and wants to give them a whirl, but becoming too attached to any one set of them is not necessarily a good idea.

And with that said, by all means use anything that lets you trade better. Just don't put the indicator or the chart type or whatever in the wrong place: none of these will make anyone a successful trader. Understanding what the market is doing, or at least how you can respond to what it's doing, is what will -- and at best, an indicator can help you with that, but nothing more.

Well, that's my opinion anyway. Do whatever works for you, and don't give too much attention to anyone's opinions either, any more than to their indicators.

Bob.

Great post. Your words here should not only be a sticky in the downloads section, they should be a mandatory ''Read, OK and Accept'' the moment you sign up for FIO.

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aprilfool View Post
Thanks. This is awesome.

I have been trying to recreate this for some time. I don't have the renko bars and the second trigger lines (in the pic above).The renko bars should be easy to get. I have been struggling with the second trigger lines, I think they are higher timeframe Tigger lines. I found a post on the NT forum where someone tired to code the MTF trigger lines with renko bars. They were trying to recreate the "large triggers" from the nexgent3 system.

This is the link to the post on NT forum - https://ninjatrader.com/support/forum/forum/ninjatrader-7/indicator-development-aa/86112-multi-time-frame-triggerline-indicator

Any idea on how to code this? Do you see any similarities?

I tried to plot the amaTriggerlines using a secondary data series but it did not work.

Following up. I think I figured it out with the other set of Trigger Lines...a dog with a bone springs to mind. These are the settings. Let me know, post a chart etc.




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Coach Lane Faking Live Trades? You decide.

So, I decided to slice and dice one of the 4 videos that remain up on Day Trading Coach website. Remember, Jovan essentially removed his entire library of videos that showed his trades were not from a LIVE account as he had vehemently claimed in the videos and to all of his ''students''.

Well, could the same be said for one of his coaches? There is a case to be made here and I'll go through the evidence. The video is still up on YouTube but I took a copy so I could go through this frame by frame.



I have no skin in this game to keep calling them out, but I feel so strongly about the ethics of what they are doing here to my local Calgary fellows this really hurts. Especially in the desperate times we are in, people reach for any potentially easy way to keep a roof over their head. It is in very poor taste and makes me quite angry.

So, onto the breakdown of this video.

On the YouTube video, Coach Lane enters the trade at 4m:14s and is out by 4m:40s. I downloaded it and decided to go through this frame by frame concentrating on the DOM.

The frame snapshot below is the frame right before he supposedly gets his profit target filled at 1401.1. The market doesn't actually penetrate his profit target price level, so even on a limit order that is a big ask to have been filled. And note that at his profit level of 1401.1 there are 11 resting limit orders.



The next few snapshots are the 2 frames after he supposedly gets filled (now bare in mind you don't see the DOM actually get to his price level ((the chart shows it)) but he is taken out of the trade nonetheless at his supposed profit target level). Note, there are still 11 resting limit orders at the price level of 1401.1 potentially meaning his contracts were not removed from the order book because he was actually trading in SIM, not from a LIVE account.

I agree that the resting limit orders could have been immediately back filled by new limit orders to replace his 4 that were removed but I highly doubt that. The odds are slim but I guess not impossible.




The yellow box (around price) on the DOM is the current traded price. In brackets is the quantity of contracts traded, which remains at (1) pretty much throughout. This doesn't appear to marry up but that alone is not conclusive because they could have been executed as individual orders, bid/ask etc.

Either way, I believe the tell here is the resting limit orders not changing to reflect his removal of 4 contracts and also the fact that price didn't sweep through his profit target level so he would have been unlikely, some would say very unlikely, to get a fill with a limit order.

Is this 100% conclusive to fake live trading? Not this time, unlike Jovan's ridiculous attempt which were 100% conclusive of not trading from a live account. But, this sure fits in with Jovan's style of faking supposed live trades in an attempt to make new traders believe that with his system, trading is just that easy.

Go look at this video on YouTube and slow down the video to 0.25 and take a look yourself. You can be the judge.

I plead with anybody in Calgary, or I guess anywhere now they are doing online webinars, to thoroughly do your due diligence and know exactly what their claims vs. reality are. The ''guarantee'' of success is littered with so many clauses in their favour it would be almost impossible to get a refund in my opinion.

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