Reading this thread I realize I have been a vendor / methodology / indicator junkie. When I have a few minutes and you want a whole page taken up I'll list all the vendors / methods / indicator I've been a part of along with my take on them. (probably this weekend while I huddle in my tiny Chicagoland house and watch football)
I do not buy methods / indicators anymore AND, I've learned a great deal from many . . . there are some honest ones who DO want to see your success.
Also have been a part of those who took (take) great advantage of the "suckers born every minute"; and must walk around with mirrors everywhere to watch their backs. I could not live like that!
Regards and best wishes in trading.
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My opinion of Will Scheier's course was excellent. It includes an excellent hardbound book " Pivots patterns and self recognition" too. Will is the most honest and genuine mentor I have ever met in this business. His method is very technical . You can take the course for life once you join. It is excellent and no indicators really. It focuses mostly on the Opening range and types of trading days to look for, Pennants, triangles, Waves and H/L Tick counts, but there is much more and it has been a few years since I used it.
Why don't I use it? It just fit my style of trading. Not to say it is not good, but a lot of it is fading strength or trading for exhaustion in counter trend moves inside a bigger trend. Exact entry prices are subjective.
I hope I answered at least answered what you wanted to know.
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"It is important to learn what other people have learned, but too many people have lived and died for me to learn more than a small fraction of what they have learned. There is a prodigious supply of information, facts, opinions, theories, suppositions, and doctrines, but the wisdom needed to sort through the mountain of trash in the hope of finding a gold nugget is not supplied."
-- Colin Low
The closest I have seen in the gold nuggets is what other Traders express here on Big Mikes forum
started my 5th year Oct 2011 in this Journey spent around 300 on books
1000.00 Ninja Platform
the best 1000.00 i spent was a month in a YM trading room only to find myself trading against my own trade set ups and loosing and then getting angry at myself for trading against myself it was at that point i discovered that I am my own trader and cannot trade like someone else . I need to connect with market the way I connect
I do gain wisdom from other traders but i make it my own
Everything you need to teach yourself to trade can be found on internet for free except Big Mikes best 50 bucks i have spent and most wisdom gained
There is a couple of traders that have websites and trade rooms i would highly recommend one uses a live custom scanner to trade stocks.
Nothing so Impressive as Simplicity
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I took EOTPRO for about a year. While I was taking it they would be changing their indicators and system every week. They claim to use a neural network that generates buy and sell signals. I didn't know anything about futures and started out naively trading with the moderator. I took the trades the moderator took and lost over a thousand dollars. He would take signals that were obviously in chop but took them because the arrows said too. What I learned from this is that you really have to learn how to trade and a neural network is just another gimmick that doesn't give you more accurate results. What's worse, you loose money and have no idea why and can't use the feedback to improve. Also, even though a moderator in a room says they are trading live, you really have no idea if they are telling you the truth, and you are putting your money on the line, and better know what are doing, and be able to rely on your own testing and skills, and not someone's word. Now I am learning to trade, however my previous experience has generated considerable fear that makes it hard for me to trade live.
I used Tradestation for many years before switching to NT. I don't really count that money because I figure ya need a chart and a way to enter trades .
When I started with Tradestation I didn't know Easy Language so I sought out a programmer. Unfortunately I found a very gifted programmer that could take whatever bull shit idea that I came up and build a working strategy with it in a short amount of time. When I say working, I mean it did exactly what I told him I wanted it to do... the only caveat ..... it lost money quicker a lonely guy in a strip club .
After a while the programmer would try to caution me against some of my more "brilliant" ideas ... which ticked me off, "...Hey..I'm paying for this ... do you want my money or not?". Then he would try to stall me , hoping I would have time to think about it and decide not to proceed. But I was on to him .... I would offer him extra $$ to move my project to the front of the line. This enabled me to lose money much quicker....
Finally he suggested that for a minimal fee he would teach me the basics of Easy Language, which he did. It was the happiest day of my life. The happiest day of his life was the day I told him I was switching to Ninja Trader ... which he didn't write code for....
When I was trying to learn "C" I couldn't find a NinjaTrader programmer to take my money ( I still think my TradeStation programmer called them...) and stumbled across futures.io (formerly BMT). Paid for elite access ... best decision ...EVAH....
@Fat Tails saved me a ton of money ... I would describe my latest Genius Indicator to him and he would explain to me in that Zen-Like manner of his .... " Dat is the stooopiest idea I have ever heard... " so I thought.... he's a great programmer... he's just trying to steal my bright idea... so I read every piece of code he wrote to catch him. I never caught him ... as it turned out..... it really was the stooopiest idea he had ever heard ... besides.... he had a family and a life... on the upside.... I learned a lot about how to write indicators for Ninja Trader
I'm just a simple man trading a simple plan.
My daddy always said, "Every day above ground is a good day!"
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I have get a paid programmer to make some of the thing I want. I have put some of the wished here at BigMike but nothing happen. So I get what i want in a other way. And are satisfied with that.
My lates ideer is too compleks to make a description, so I take a breather until thing fits. My programmer say I could send some picture to explain. I will do that when time come. If my discription is near 100%, I will let it be done, probably as one of the last indicator i need. I hope.
Very interesting discussion. My biggest nightmare were Dr Clayburg's Universal System. I spent money on several other systems and trading rooms, but also made enough money on forex robots to cover my losses. Anyone has a saying on the indicators offered by Ninjacators? I am posting here the free offer of their indicator of the month on this link if you wish to grab it, enter name and email on the site Ninjacators.com
Now I think indicators to prove themselves should be turned into strategy for backtesting purpose. The proof is in the pudding.
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Nice that this thread is still going on. I should add some comments regarding one of vendors in the list posted by the OP. Netpicks. I lost over 1k with them. They claimed to have backtests done for the past year. Yet there would be days they lost over a hundred ticks being whiplashed multiple times. The moderator would be quiet while we sustained big losers. I would not be surprised they never traded live or even sim; who would be crazy enough to trade their system unless duped into doing so. I'm not even sure how many of us were real clients or there were the same three or four "members" in the room making comments. There should be a new definition of actor, "chat room member actor". Every month or so they keep coming out with new "products" and I continue to get spam email about their latest new system. They would show their net gain of a measly 40k or 50k, of course for last year, or the year before last and we were supposed to have patience the rest of the year. But that was it? just a measly 40k (a figure which I don't even believe now) after taking positions supposedly with multiple contracts in their multiple "trading plans" (where said trading plans used their auto signal entry program anyways no matter how dumb or whiplashed it got), in so many instruments and risking and sustaining big losses. More of an exercise in busybody work distracting from the fact one was being duped, and paying your broker daily commission salary..
Last edited by Cloudy; August 7th, 2012 at 11:45 AM.
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