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hmm, without showing anything what someone talks about here (trades / charts .... ) negative storys are the same as positive storys for me : pushing , bashing, useless.
this doesnt help any one here .
Because he's probably not a new / struggling trader and is not mesmerized by charlatans who put a system on the market, then for example:
1. Have 2 moderators, neither of whom trade the system the same way.
2. Continually pass on setups that are valid according to their rules.
3. Often take trades that are not valid according to their rules.
4. Trade single contracts with, for example, a 6 to 8 tick target and then explain they often only get 1 setup per day. (Look at their Youtube video and then decide if you think that represents 1 or 2 setups per day.) Then do the math with a single contract and 1 or 2 setups per day (most of them losing lately) and decide if what they are making is going to further your financial cause.
5. Foolishly play "whack-a-chart" looking at way too many markets, missing setups while looking at products they do not trade, and then pointing out the winning trades that they missed on the markets their method is marketed to work with.
6. Changing the system already. (One guy is using one type of candle, the other guy switched to another.)
7. Explaining to the room their poor performance is due to the fact that the markets are "really quiet" or "just not moving" when each day over 300,000 contracts are trading on both their primary markets, it's the first week of January, and there have been ample extended moves in both directions every day.
8. Started taking trades on CL for the first time (according to one of the moderators) just this week and seem really amazed by CL volatility.
9. Actually asked the students in the room if there was any news events to be aware of when trading CL.
Very nice and friendly guys, and quite clear they are not making their money from trading.
Timefreedom - I could not have said it better. I have been with them since they started and you hit the nail on the head with all of your concerns. There is no doubt in my mind that they have not been using this system very long and they have probably created it just to open a room.
I also bought the system just to check it out because it was very inexpensive, and I've written an indicator with the rules as I understand them. Using HeikenAshi bars with the strict rules it is not profitable, and breaks even if I add a coupe of my own filters. Using Range bars it loses money no matter how I traded it.
today's 6e 3 range chart had 3 divergence trades and 2 wins, 1 loss.
long at 5:45 am central, winner
long at 6:38 am central, loser
long at about 10:48 am central, winner
entries that I mentioned earlier. I'm not including the indicators for the same reasons others have mentioned. However, I marked the entries on a clean 3 range chart. If you have the system, then you can look at your chart to confirm.
