This is discouraging people like me to talk about their enthusiasm that after years they finally get 2 times 3 ticks out of the market every day using a package they bought for not so many dollars and that ends their losing trading career. My biggest losses in fact were: Buying useless packages...
Yes I've seen Fritz' crusade on exposing Rockwell since last summer and his posts on elite. I recall seeing a 5min CNBC segment on Hoekitter once where he tells the reporter that volatile times was good for daytrading. It was only for a few minutes and just a short segment on online retail "day trading" in general in the tough volatile market last fall. But I was surprised they surveyed Hoekitter. Especially after Fritz' blog had been going on for a while.. Made me think CNBC had and has been oblivious to the retail forex and future trading and probably trading education scams for a long time. For the longest time they had Rick Santelli confined to his desk area only, visually, at the CME. And they also survey Larry Levin from time to time.
That said, shadowtrading does work, but only with a legit trader willing to share their entries and who is trading it themselves which is probably rarer than 99.something% percent out there. As a former CJ Booth room attendee, we shadowtraded him for about a month and a half and made some $. He's closed since mid-January. I think he got tired of the whole thing. Also it's easier to shadowtrade a longer time frame setup and watching for a setup candle or two as the host calls it, rather than a sudden entry. Some of us would get 5 ticks instead of 10, or miss out completely etc. if the market moved fast or jerked after entry. Of course those of us who familiarized ourselves with his setups could enter earlier in faith with his system and sometimes did as well as he did. Then of course being stopped out on a failed trade could vary all over the place too.
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When starting out a year ago I attended one of the 'live' seminars by ShadowTraders and the system looked really impressive as they made amazing calls using their fractal lines ... until I realized that the 1 hour seminar covered about three hours in the market.
I had recorded the seminar so I played it back and confirmed the bars were closing in 1/3 the time so it was clear they were just replaying the market and only pretending to make live calls. I did not bother with ShadowTraders after that. I just moved on.
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Favorite Futures: CL, 6E, ES and Maybe DX for smaller tick value
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I hope you again try to post a bigger version of your 1 minute chart if that is mainly what you trade from. What is the significance of the bottom of the chart that has: 100.74 Last 0.66 Net - it does not appear to be the current price.
It also looks like there may be a slope percentage indicator in the top right corner. Is that part of the system or did you add that indicator like MASlope?
Do you have any parameters or check list for what the parameters for a trade should be?
Thanks for trying to help us understand the system methodology.
I like your comparison with violin teaching, but I think that this comparison is not relevant in all cases.
The core point is that the teacher has to be clear about what he is selling.
(1) If the teacher claims the following:
"I used to be a trader. I am not any more. But I can help you in your journey."
"I do not pretend to be a good trader but I can help you from psychological or money management point of view".
"I have a method which makes me profitable, but it has a large discretionary part. I can teach you but I do not guarantee you will succeed also."
"I have an idea on the market that I think is good. But it is not profitable by itself. However, perhaps you could improve your trading by incorporating it in your methods."
--> OK, that's clear. We take or we leave. And perhaps a track record is not necessary from the teacher.
For me this is more or less comparable to the violin teaching image.
But if the teacher claims: (2) "I have a method which is profitable, and which will make you profitable too. By the way, this method costs a lot."
I guess that, in this case, asking for track record or live real trading is relevant.
And this is not really comparable to violin teaching.
Just my opinion.
(I was speaking in general. I do not know the vendor which is discussed in this thread.)
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