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Daytrading.Coach Review

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  #41 (permalink)
Legendary Market Wizard
Montreal, Quebec
 
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Fat Tails View Post
Basically, I do not understand all the excitement about a few very basic indicators.

Slingshot is just two moving averages with the area between the two averages painted.

Trigger Lines is not based on Slingshot. It is a linear regression line with a trigger line (moving average of linear regression) added. I did not invent this indicator. In any case, it does not take much of a genius to add an EMA to a linear regression line. Trigger Lines also has the area between the two lines painted, but this does not make it the same indicator as the SlingShot.

This forum was originally used for code sharing, not for code hiding. When I publish an open source indicator, the code cannot be stolen, because I have already published it.
Also, I have created many indicators which are just improved replicas of original indicators that were created by different authors. I do not feel guilty for improving them, and I do not hide the improved code.

Hope everybody enjoys and uses the indicators to improve trading results.

Thank you!

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  #42 (permalink)
Legendary Market Wizard
Montreal, Quebec
 
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Bowing out of this thread....

I will gracefully or ungracefully (depending on how you want to look at it) bow out of this thread. If there are some specifics that need addressing I will do that, but I have certainly gone above and beyond to highlight my concerns about DTC.

If @bobwest or @Big Mike feel they want to edit, remove, adjust a post I have made in this thread I have no issues with that. My intention was to shed some light on DTC and I have done that, in spades some might say.

As I have always stated, I have no skin in this game other than to spread some awareness about my concerns with DTC. I have always been vocal about this kind of stuff and yes, sometimes I don't need to drive the point home as hard as I do.

I am passionate because as a new trader I lost tens of thousands of dollars where I was promised riches by a vendor only to end up with rags.

One very painful memory is from my dealings with 'eminitradingschool'. My statement was included in the SEC prosecution against them. And although completely unrelated to DTC, I couldn't help be reminded of how the marketing was eerily similar.

I wish everybody good trading.

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  #43 (permalink)
Arlington Texas
 
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Platform: NinjaTrader, TradeStation
Trading: ES, CL, YM, GC, NK, Forex Majors
 
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RJay View Post

P.S. to jeliner,

I am not involved in any legal action against you. I see you have a registered account on my web site. Please go there and make a list of any NT8 products on my web site that you have an interest in and I will add those products to your account at no cost to you. Open a help ticket after login and post your NT8 product request list.

Thanks,

RJay

I am reattaching the letter I received from The Day Trading Coach. I have sent an email to the attorney trying to explain that I am not JohnnyBoy, but I have not heard anything on weather this is going to be dropped. My only interest is resolving the threat of a lawsuit against me. I would prefer to stay as far away from Mr Jovan and DTC as possible. Since you have business relationship with this company, could you pass it along that I am indeed not JohnnyBoy so I can quit worrying about being sued.

Thanks

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  #44 (permalink)
Site Administrator
Manta, Ecuador
 
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I believe the primary point here was a vendor being called out for lying about cash vs SIM repeatedly for the purpose of selling indicators.

The actual indicators themselves are less important.

That's my understanding.

Since @RJay is involved, I would hope he would tell his business partner to drop the ridiculous threat of lawsuit before it gets more embarrassing.

Always appreciate seeing you around Harry. I hope you and your family are well during this trying time.
Fat Tails View Post
Basically, I do not understand all the excitement about a few very basic indicators.

Slingshot is just two moving averages with the area between the two averages painted.

Trigger Lines is not based on Slingshot. It is a linear regression line with a trigger line (moving average of linear regression) added. I did not invent this indicator. In any case, it does not take much of a genius to add an EMA to a linear regression line. Trigger Lines also has the area between the two lines painted, but this does not make it the same indicator as the SlingShot.

This forum was originally used for code sharing, not for code hiding. When I publish an open source indicator, the code cannot be stolen, because I have already published it.
Also, I have created many indicators which are just improved replicas of original indicators that were created by different authors. I do not feel guilty for improving them, and I do not hide the improved code.

Hope everybody enjoys and uses the indicators to improve trading results.

Sent using the futures.io mobile app

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  #45 (permalink)
Site Administrator
Manta, Ecuador
 
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Please keep an eye on the thread so we help our fellow members.

Educating people on how to spot lying vendors is a valuable resource, thank you for taking time to post your thoughts. Far more valuable than what these vendors are trying to sell as the holy grail.

"Helping turn traders into millionaires" or whatever their tagline is -- disgusting.
JonnyBoy View Post
Bowing out of this thread....

I will gracefully or ungracefully (depending on how you want to look at it) bow out of this thread. If there are some specifics that need addressing I will do that, but I have certainly gone above and beyond to highlight my concerns about DTC.

If @bobwest or @Big Mike feel they want to edit, remove, adjust a post I have made in this thread I have no issues with that. My intention was to shed some light on DTC and I have done that, in spades some might say.

As I have always stated, I have no skin in this game other than to spread some awareness about my concerns with DTC. I have always been vocal about this kind of stuff and yes, sometimes I don't need to drive the point home as hard as I do.

I am passionate because as a new trader I lost tens of thousands of dollars where I was promised riches by a vendor only to end up with rags.

One very painful memory is from my dealings with 'eminitradinschool'. My statement was included in the SEC prosecution against them. And although completely unrelated to DTC, I couldn't help be reminded of how the marketing was eerily similar.

I wish everybody good trading.

Sent using the futures.io mobile app

We're here to help -- just ask

For the best trading education, watch our webinars
Searching for trading reviews? Review this list

Follow us on Twitter, YouTube, and Facebook

Support our community as an Elite Member:
https://futures.io/elite/
Follow me on Twitter Visit my Facebook Visit my futures io Trade Journal Reply With Quote
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  #46 (permalink)
Site Moderator
Sarasota FL
 
Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
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Posts: 6,157 since Jan 2013
Thanks: 46,939 given, 20,625 received


RJay View Post

P.S. to jeliner,

I am not involved in any legal action against you. I see you have a registered account on my web site. Please go there and make a list of any NT8 products on my web site that you have an interest in and I will add those products to your account at no cost to you. Open a help ticket after login and post your NT8 product request list.

Thanks,

RJay


jeliner View Post
I am reattaching the letter I received from The Day Trading Coach. I have sent an email to the attorney trying to explain that I am not JohnnyBoy, but I have not heard anything on weather this is going to be dropped. My only interest is resolving the threat of a lawsuit against me. I would prefer to stay as far away from Mr Jovan and DTC as possible. Since you have business relationship with this company, could you pass it along that I am indeed not JohnnyBoy so I can quit worrying about being sued.

Thanks


Big Mike View Post

Since @RJay is involved, I would hope he would tell his business partner to drop the ridiculous threat of lawsuit before it gets more embarrassing.

OK, it's nice that @RJay is separating himself from his business associate's reckless threats of a lawsuit and is making nice offers of free software (which is not desired by the person in question).... but @jeliner is still feeling squeezed hard, personally, by this legal threat, and if there is any reason to think that he is someone who should be threatened, it has not come out yet. Quite the contrary.

So when will any of the persons who are arrayed against @jeliner, or any of their associates ( @RJay? ) step up and at least try to do the right thing? Or alternatively, if there is any proof that @jeliner is really @JonnyBoy, will they lay some of it out? Or are they going to wait until they have to tell a judge why they think he is? Will they have anything to say? It should be better than, "Well Your Honor, his name is Johnny, after all. Who else could he be?"

All I can say is, they had better be right on this, or they will publicly go down in flames. As will any of their enablers ( @RJay ? ) who have not said that this should stop.

And stop it should.

Any vendor who thinks he has been unfairly treated has every right to come in and defend himself. Facts always work, and any vendor with a problem with a review can come on here and point out the errors in the review, as he sees them. It never takes long to argue the facts. Attempting to suppress other people with threats looks like what it is, attempted suppression. Does anyone involved expect all this to help him sell software? ( @RJay? )

I am making no points in this post regarding the merits of @JonnyBoy's critique. Nor do I do care who first thought up the idea of adding an MA to an MA or another indicator or whatever. What I care about is that someone who is not @JonnyBoy, or at least says he is not, is getting squeezed hard by a vendor's lawyer, is losing sleep, and fears he will lose everything he has because his name is a variant of "John," one of the most common names in the Western world.

This should stop. If not for decency's sake, then because of the vendor's own self interest, in not wanting to look like what it makes him look like. And if he can't understand this, someone else, who is also going to look the same way, should tell him so. ( @RJay. )

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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  #47 (permalink)
Joplin, Mo. Jasper
 
 
Posts: 45 since Sep 2019
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Hello, I just have to say I am glad to have seen this. This just preps me more for DTC. I have been saving for about 8 months to attend the school. Times are hard and I am able to pay the down payment finally and then pay the rest in payments. I was just doing more research and DD on DTC trying to find something other than the few negatives on Trust Pilot before I handed over the money. Income has been slow, selling things I could sell on ebay, scraping metal and finding things to flip for profit anything to get to the school. I was going to ask Jovan for statements on his trades before taking that last step and sending money. I still will ask, if he provides verified trading statements I will take his school. If not then I cant let go of the money that I have worked and saved for all this time. I have lost to much on trading programs before. Now this time I gave up alot trying to save and learn from a legitimate place. I am 70% disabled so employment for me is rare due to the nature of it. Disabled from PTSD from all the stuff I went thru for 10 years of service. I gave up almost every activity that took any kind of money. Hardly any nights out with dinner with my wife, no traveling to no where, saving every penny I could. But thats just one question I was and still will ask is verified trading statements. But just glad I came across this because it was a good read from every side and breakdown and aspect. Not one person swayed me from making a decision. It only clarified the question I was going to ask anyway. Thank you to all that put input in this.

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  #48 (permalink)
Arlington Texas
 
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Ty199 View Post
Hello, I just have to say I am glad to have seen this. This just preps me more for DTC. I have been saving for about 8 months to attend the school. Times are hard and I am able to pay the down payment finally and then pay the rest in payments. I was just doing more research and DD on DTC trying to find something other than the few negatives on Trust Pilot before I handed over the money. Income has been slow, selling things I could sell on ebay, scraping metal and finding things to flip for profit anything to get to the school. I was going to ask Jovan for statements on his trades before taking that last step and sending money. I still will ask, if he provides verified trading statements I will take his school. If not then I cant let go of the money that I have worked and saved for all this time. I have lost to much on trading programs before. Now this time I gave up alot trying to save and learn from a legitimate place. I am 70% disabled so employment for me is rare due to the nature of it. Disabled from PTSD from all the stuff I went thru for 10 years of service. I gave up almost every activity that took any kind of money. Hardly any nights out with dinner with my wife, no traveling to no where, saving every penny I could. But thats just one question I was and still will ask is verified trading statements. But just glad I came across this because it was a good read from every side and breakdown and aspect. Not one person swayed me from making a decision. It only clarified the question I was going to ask anyway. Thank you to all that put input in this.

Hello Mr Ty:

I was a past student of Mr Jovan, back some 2+ years ago. If I am not mistaken one of his Coaches, Mr Lane was part of my class as well. I have failed at trading since 1994 and spend an average of 20-30k per year since 1994 on trading systems and failed attempts at trying be be a trader. I have bought it all - pretty much every piece of software and program for 26years. I have yet to find something that works. Personally, I think the people who really know how to make a living at this don't really teach it, and I don't blame them - because I would probably be their worst student.

When I discovered DTC, it was called Family First and Mr Jovan was the only coach. His program comes in two parts: technical analysis and mental aptitude. Quite frankly, I could never get into the mental aptitude part of his program, it was too abstract for someone with an evidenced-based, concrete perspective. So, I focused on trying to understand his indicators and trading plan.

Along with being a medical professional, I am pretty OK at coding. So, I am always working on coding projects (ie datamining) to test trading perspectives that I come up with, read about or notice. I had a set of indicators that worked with MACD to color my graph bars and was using a Liner-regression intercept price cross over as a entry signal. There were two things unique about DTC that I liked, the multi-time frame indicator (he called the hawk - which is really the eagle on a higher time frame) and the ribbon appearance he used in his indicator, which come to find out was created by someone else. So, while I was working on trying to make my Linear regression intercept work on multiple time frames, I sought help on the NinjaTrader forums. The data coming from multi-version indicator didn't match the data on the higher time frame chart. While I was working on this side project while in the DTC class, Mr Jovan accused me of trying to steal his software and he booted me from the program. he also turned off my indicators on NinjaTrader7 as well. When he did so, he refunded 80% of what I paid and I never heard from him or saw his indicators since ... until the threat of a lawsuit as mentioned in this thread.

I can tell you that I personally never got anywhere with his system - but this is coming from a point of view of a person who has bought pretty much everything and failed for the last 26 years. This is my take on his system and my history and experience with the company and its about as much input as I can give. If I would have had more time to play with it, maybe I could have gotten someplace with the system - maybe not. Because of my personal negative history, I would prefer not to explore that option.

The next thing that I am about to look at is JigSaw, its about 1700$ (much cheaper than DTC) and comes with training. I think training and education is what I need more than anything at this point. I really don't know anything about JigSaw yet, but there isnt much out there left I have not tried. I have been kinda putting off looking at it because Book Reading appears to be complicated and very fast paced. We will see.

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  #49 (permalink)
Legendary Market Wizard
Cleveland Ohio/United States
 
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Ty199 View Post
Hello, I just have to say I am glad to have seen this. This just preps me more for DTC. I have been saving for about 8 months to attend the school. Times are hard and I am able to pay the down payment finally and then pay the rest in payments. I was just doing more research and DD on DTC trying to find something other than the few negatives on Trust Pilot before I handed over the money. Income has been slow, selling things I could sell on ebay, scraping metal and finding things to flip for profit anything to get to the school. I was going to ask Jovan for statements on his trades before taking that last step and sending money. I still will ask, if he provides verified trading statements I will take his school. If not then I cant let go of the money that I have worked and saved for all this time. I have lost to much on trading programs before. Now this time I gave up alot trying to save and learn from a legitimate place. I am 70% disabled so employment for me is rare due to the nature of it. Disabled from PTSD from all the stuff I went thru for 10 years of service. I gave up almost every activity that took any kind of money. Hardly any nights out with dinner with my wife, no traveling to no where, saving every penny I could. But thats just one question I was and still will ask is verified trading statements. But just glad I came across this because it was a good read from every side and breakdown and aspect. Not one person swayed me from making a decision. It only clarified the question I was going to ask anyway. Thank you to all that put input in this.

I only know about you what you wrote above, but if you are selling scrap metal to gather funds to trade or get trading education, then trading is likely not for you.

Trading is really tough, and with your background (PTSD, lack of funds, 70% disabled) you are putting yourself in an impossible situation.

I apologize for hijacking this thread, but I hate to see people wanting to trade who should not be trading. I can't see your trading story ending well, and I wish I could.

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  #50 (permalink)
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Experience: Advanced
Platform: Sierra Chart
Trading: ES, YM
 
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Ty199 View Post
Hello, I just have to say I am glad to have seen this. This just preps me more for DTC. I have been saving for about 8 months to attend the school.
...
Income has been slow, selling things I could sell on ebay, scraping metal and finding things to flip for profit anything to get to the school. I was going to ask Jovan for statements on his trades before taking that last step and sending money. I still will ask, if he provides verified trading statements I will take his school. If not then I cant let go of the money that I have worked and saved for all this time. I have lost to much on trading programs before.
...
But just glad I came across this because it was a good read from every side and breakdown and aspect. Not one person swayed me from making a decision. It only clarified the question I was going to ask anyway. Thank you to all that put input in this.

In that case, the review thread has done its job, which is to bring out different opinions and create a discussion. Then you can make a decision, and I hope it turns out to be a good one for you.

Trading is not easy, and it is pretty much guaranteed that you will lose money before you start to make money, if you ever do. Paying money to vendors with a system can be yet another way to lose, and probably we have all had that experience.

I hope your experience works out well for you, and I also hope you will be careful with your money.

Good luck.

Bob.

When one door closes, another opens.
-- Cervantes, Don Quixote
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