Shadowtraders system. Scam or real? (www.shadowtraders.com)
Guys, I have been to 3 free webinars from this website called shadowtraders.com Personally I see red flags all over. Yet I am intrigued by the way they use their charts. They claim their oblong S/R lines are their proprietary fractal lines you get with their course. Yep, that's red flag #1. However on other forums I have met 2 guys that claim they are happy with it.(might be shills) Tomorrow and I think every tuesday night at 8pm they give a free webinar. I watched 3 so far. I wrote to them 3 times asking questions. They trade only Forex futures and the problem for me is they either try to scalp 2-4 ticks or a trend trade to them is 8-10 ticks. They use 1 minute charts. Thats scary! Has anyone bought their course and charts before. It appears on their site like it would take 8 weeks to complete as they claim.
They claim they want you to keep reducing your tick targets till you can get an 85% win ratio. Nothing else is acceptable they say. I would love to have a system that wins 85% but not if I lose it all back on the other 15% losers! Anyway, they claim to be releasing 2 new indicators for their platform/charts in tomorrows webinar and they are going to offer to have live traders of their system call and talk to you and give an honest (?) opinion. Id like to get a few of us in there and see if we dont get the same guy calling us. My opinion is that for $999 I want to see some kind of proof which they never seem to provide. If anyone has heard of them and may be interested, tune in tomorrow and let me know your opinion. Remember......I am very, very leary of this and all vendors who sell a product either on the Internet and especially at a trade show. But if you can learn to use a vendors charts and make them your own, sometimes it could be worth it. You tell me......
The following user says Thank You to Marc V for this post:
In that case; don't waste your time. I met her 2 or 3 times, when I still resided in Chicago. Two of my buddies, who were both OEX traders at the CBOE were associated with her when she first started out. They were going to be her "expert traders"/ instructors. Barbara is not a trader. I don't believe she has ever had any of her own money in the market. She is a relatively intelligent woman, but also quite a bit loony. Her expertise lies in marketing, and this is what her company is all about. She is also a practitioner of Scientology, and she got her business off the ground by targeting and selling to other Scientology wackos. Please believe me when I tell you she is clueless in reference to trading.
The following 11 users say Thank You to tigertrader for this post:
but most line fit.
Trendline looks like T3 indicator, and is a nice tool for trend.
some of the things there have been said is Fibonacci don't work and it's only there tools there works.
I se one big issue, you can't test software for just one week or so. There are many software solution there give this opportunities.
And i want to se live trading on webinar. I have not seen enough of live trading and not seen one StopLoss on chart.
I have my doubt and need to se live trading before i can make any decision .