I think the concept of TradeGuider ( www.tradeguider.com) is good. Is there anybody who has already taken a subscription? Is this trading system recommendable?
Tradeguider is all about Volume Spread Analysis ( VSA) which is essentially based on Wyckoff.
You do not really need the software for doing VSA. I have never used Tradeguider but trading buddies of mine have in the past and don't use it any longer.
VSA is not a mechanical system so the software cannot tell you when to buy/sell although it does give VSA based signals.
I'd suggest you first read the books by Tom Williams before going further if you want to trade that way.
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You could do much worse with the plethora of dodgy "systems" floating around out there.
I like their concepts. Been to a couple of their webinars with Gavin Holmes as presenter and their stuff makes sense to me.
They insist that volume in the FX market plays a significant role and now have a plug-in for the MT4 platform which I am going to jump on. Plug-ins for SC, e-signal , Metastock too but nothing for NT.
Im familiar with Gavins work/yt videos etc. too . Volume and forex , Ive found , isnt as powerful as in futures or equities markets . Ive monitored esignal forex volume with a single contributor feed from my ECN and the only clear volume patterns are during obvious range and volatility expansion . Its fair to also state here that "master the markets" is an advertisement for tradeguider .
TG mentions a "study" showing that tick volume in Forex is a good substitute for real volume. As we all know, however, for every opinion there is a suitable study out there.
My feeling is that using tick volume adds an unnecessary element of uncertainty to your trading. First, one should see whether VSA works with futures/stocks at all before jumping into the forex market.
Right , VSA isnt something that "works" but is something you work . Its a very subjective approach and what one trader sees as a potential for price to drop another sees as a potential to rise . Paying 3K for software to learn to work volume is steep imho since ultimately you need to find your way mostly on your own . Paying this fee to a personal mentor would be very different .
I too like their system. I started in their Future Trading room, day 1 with Steve Phillips. It took me a while to grasp the concept, but once I did, the trades taught by Steve in his seminar, became very successful.
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I've used tradeguider for some time now. I hardly ever use it anymore. I've noticed that starting with version 4 and all the plug-ins they changed the code and now at least over 50%-60% of the bars on a chart have some sort of signal on them, whereas before it was less than 20%. So I'm having trouble believing the software, so I just use my own analysis. So there I have the stand alone version without any use. Here's a chart of the Sierra Charts plug in on a 5 min chart of the 6E so you can see what I mean.
I got to where I never used their indicators. I just turned them off. I just looked at support, resistance, volume and where the current and previous bar closed. I usually know their name for the bar, but I don't look at the indicators. I do like what they teach.
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A total waste of money. By Steven Phillips' own admission ( former TG educator) you don't need the software to trade VSA ,just read the books of the real experts ( not Gavin Holmes) .He also spend over 3K and the software sits in the back of his computer unused ,just like mine.
Mr. Gavin Holmes (aka Inspector Holmes as of late) a real good salesperson ,imaginary fund manager and charlatan. He spends copious amount of time selling, not enough left for real trading.
Stay away ,save your money. I wish I could sell my TG software License .
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Gavin Holmes, from TradeGuider , will misguide you into buying a software to trade using Wyckoff Volume Spread Analysis.
A charlatan, singlehandedly destroyed Tom Willians's legacy . He is not for the small trader anymore ,he emailed me recently that his worthless SmartCenterPro Software is available to institutions only (his latest plot) ,just for me to buy an upgrade. Save yourself Tens of thousand of dollars and buy any book about Wyckoff or volume spread analysis out there, if you want to learn it, because the truth is that this software is just as good as the decision you make based on your own knowledge. He is not a trader , he makes his money selling software after software. He invites other people ( Phillip Friston, Sebastian Manby ) during his "trade rooms" that don't take live trades and supposedly manage (imaginary) trading funds. It's all a show ,a sales show. Based on market manipulation ,that exist , but way to inaccurate to predict . Unless you can stomach big stops.
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