Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
Posts: 50,002 since Jun 2009
Thanks: 32,468 given,
98,269
received
Nice work by Richard on these arrows.
10 minute video attached and is worth watching. I need to see a lot more charts on non-trending days, but I'm sure they are pretty good just based on how good the v3 arrows were.
I've always felt the EOT guys are good honest guys and their room is especially helpful for newer traders.
From Oct 1st they have laucnched a new version Bills arrows 4.1. The new arrows are totally 'adaptive' for any market, with no customizable settings whatsoever.
I am waiting for some video to get released from them for this new version, though you can have a lool at it in their free trial room. Looks really impressive ...
No its not the same. Previous versions had many customizable settings (according to ones own individual market). But the new arrows released are 'adaptive' in the sense that there are no settings. They are just applicable to any market any timeframe.
I visited their trial room a couple of times where they trade the ES live. Surely impressed by the arrows. Also, the new arrows have inbuilt chop detection algorithm that avoids choppy areas.
Eotpro leases more than a dozen indicators, but now they use just two to trade. One of them is the Arrows and the other one is Shelly's Volume(new adaptive version). It makes sense... the Arrows analyse the price action and the Shelly's vol analyses the volume. When both point in one direction there is a high probability of a successful trade.
I really like this 'adaptive' concept. No settings.. no hassles
Hi...I don't use indicators, but I would just make a donation to this site, so you can get into the VIP section and use some of the free (or very reasonably priced) indicators that the guys here on this site make. Good luck...
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
Posts: 50,002 since Jun 2009
Thanks: 32,468 given,
98,269
received
I merged your post (and its replies) to the thread I created about EOT 4.1 earlier.
The reason I recommend EOT to traders who are not yet profitable has nothing to do with their indicators. Bill (the room moderator), and in fact the entire team, are genuine in wanting to help you. You will get hand holding and every question answered, plus Bill is a good moderator and you can learn from him if you are not yet profitable.
I swore I'd never read another thread about EOT stuff, and yet here I am again lol.
Yeah just so there's no confusion:
v4 was adaptive in the sense that you only have settings based on what you want to see ("aggressive entries? TRUE") and no settings based on the chart you used ("KA_frobberlen: 32.4"). Still, you were left to your own devices to avoid chop except on ES.
v4.1 added in adaptive chop detection and a couple other niceties. This completed the system and made it possible to throw the indicator on 6E, CL, FDAX, etc and get decent chop-free results. We're still wanting to re-work chop-detection at some point but it's already working pretty well for us.
No one should trust video advertisements, though. As we offer an infinite room trial, you can visit us every Monday Wednesday and Friday for the rest of your life and never pay. You'll see the good and the bad. We're currently trading ES, CL, the Yen, and the Pound futures with the same 2 indicators in front of about 150 people every day.
The following 2 users say Thank You to Richard for this post:
Richard, I heard Bill say in the trading room that the chop detection in 4.1 works only for the ES.. no other market. Please throw some light on this..
Well like I tried to clarify above, that was true in version 4 but not 4.1. We use the 4.1 chop detection on many markets... you can see it right now on ES CL 6J and 6B in the free trial room.
That's exactly the problem I have. I would have donated a long time ago, but I'm not going to buy an indicator. Many members are posting their indicators in the "Elite section". I couldn't care less, but that's the reason for me. Why not transfer the complete download section to the VIP section?
Just my 5 cents. I like your forum a lot, many nice members. Great job. Thank you.
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
Posts: 50,002 since Jun 2009
Thanks: 32,468 given,
98,269
received
The Elite Circle is not the reason to donate. And even less a reason to not donate. You either want to support the site or you don't, no one is forcing anything on you.
Site Administrator Swing Trader Data Scientist & DevOps
Manta, Ecuador
Experience: Advanced
Platform: Custom solution
Trading: Futures & Crypto
Posts: 50,002 since Jun 2009
Thanks: 32,468 given,
98,269
received
I don't understand this btw... one of us is misunderstanding the other. Donations do not buy indicators. Donations support the site. Which one of us is confused?
Personally, I wish Richard the best and think it's not a bad move if he's done it for the right reasons, which it sounds like he has, and he's thought them through. What it means for EOT though I am uncertain, only time will tell.
i wish richard all the luck in the world,ive looked at his indicators and now i recomend them also to new traders,i dont recomend anything normally and i make many of my own indicators but he did a good job at eot and i really wish him the best...sharky
Well, I've been pretty methodical about arranging for a smooth exit, should it come to that. I introduced Quinn to the group several weeks ago, and I'm going to help him take over the programming work for them at no charge.
As great as their service is--it's the best of its kind in my view--, there are plenty of people EOTPro can't help. You know, when someone hands you $233, they expect to be given "the answer." But we all know that screen time and hard work is the only true "answer." So we worked hard to put together an arrow system that lots of people can get comfortable with quickly. It does work for a lot of people, or we wouldn't be able to keep any clients. I'm proud of that.
Still, I would say an even larger number of people need to be able to find their own path, on their own timeline, with minimal expenses. That's how I learned to trade, after all! So, that's the set of people I want to focus on, in my own way. Plus it just feels better to offer open code, since DRM crap essentially presumes every client is a thief that needs to be controlled. I'm done with artificial scarcity!
And I'm definitely looking forward to having more time to practice my own trading and learn new techniques.
Thanks for all the kind words in this thread.
The following 16 users say Thank You to Richard for this post:
Now that you may have a bit of spare time on your hands, hopefully we'll see more of you here on this great forum. I know that you have a lot of great knowledge and insights which would possibly help all members on the futures.io (formerly BMT) site with their trading, psychology and ideas.
So good luck, and looking forward to many more great insights and wise words of wisdom and experience.
