this is a review of the Pattern Trapper www.patterntrapper.com there are several video's posted on this website about how the indicator works and how well it works on trades. Yes, as much as I hate to admit it, I purchased it...needless to say there are better ways to spend $325 for the JumpStart indicator. It is basically the MACD, nothing more the only thing is it creates bars when on the oscillator when there's a set up. In the video's there aren't a lot of set ups popping up, but after purchasing there are several set ups and an overwhelming number of false set ups. The creater of the indicator said, to read the PDF file CAREFULLY, basically it tells one how to read a MACD. When using the MACD, the basic rule is to avoid trading when the slow and the fast lines are hugging or basically parallel to the zero line, well...when using the JumpStart oscillator guess what...yes you guessed right!
The vendor encourages people to purchase the $999 1-1 mentoring program so that one knows how to better use the oscilator. When I sent an email to the vendor stating the above, he never responded...I did mention I am not sure how much value I will get from the mentoring when there isn't much value in the indicator itself.
It's amazing what people are selling...yes its just as and even more amazing what people will pay for. Just goes to show one can put up a fancy web site use Ninjatrader market replay adjust it so that it so that the market is moving in your favor tweak an indicator and sell it - note: I'm not saying that The Pattern Trapper is doing this. Oh one more thing, you cannot tweak the indicator so that it doesn't create as many false set ups or for using it on other markets as the YM does not trade the same way as the 6E, TF, CL, etc.
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Also don't see how one can review/comment a mentoring program without taking it first.
If you bought it , you might as well learn how to read it and use it, if you have specific questions, why not ask them to him instead of saying it doesn't work , pretty much any indicator that is set to perform a task will work as designed
I have no affiliation with bob Hunt or the pattern trapper but don't see this review as being very >>>useful(wrong word)<<< edit: fair . JMO
It seems as though the mentoring program is to learn to trade and use the indicators but you just purchased the indicator straight up without taking the program first?
GridKing...thanks for your post. I'm a little confused with your post. You seem to be challenging me on my opinions of the indicator, yet you have not purchased or tried. Then you state how can I comment on the mentoring program when I haven't purchased it.
As far as my comments on the mentoring program, please read it carefully...I simply stated:
1) the vendor encourages to purchase the 1-1 mentoring
2) I emailed the vendor and said in the email "I did mention I am not sure how much value I will get from the mentoring when there isn't much value in the indicator itself" - the vendor has not responded to this comment.
So, in no way have I said anything positive or negative about the mentoring for the reason that I have not purchased it. I only repeated what I wrote to the vendor and stated I have not received a response.
Just me, before I challenge someone on what they have experienced and seen, I do my research...I also like to practice what I preach, that is I am not oing to sit and callenge someone on an indicator they have purchased and I haven't, then turn around and tell them that they have not purchased the mentoring program so how can I comment on it...when in fact they just listed what they wrote to the vendor....JMO
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So I guess I am just puzzled as to A) why someone would purchase the indicator without having gone through the mentoring program
B) Does the indicator do what it is supposed to do? Meaning does it signal a cross and alert when it is designed to alert
Just doesn't seem like a fair review IMO
I'll say that I don't believe in "the holy grail" , but I also don't believe that some people put in the time , effort and work to give trading systems of any kind a fair shake , I don't know maybe it's just me....
I'm with you, I don't believe in the holly grail, but do look for methods that work to see if I can leverage to increase my edge.
To answer your question that puzzels you as to why one would purchase the indicator without going through the mentoring program...good question! Why would someone sell the indicator separately from the mentoring program? My take is the person selling basically sets the expectation that one should be able to follow the guidelines provided with the indicator and use it. When one studies for their SAT's, GMAT, LSAT, Series 3, 7, 63 one can buy the books and study themselves or they can take a class, it all depends on each individual.
When I look at a mentoring program for trading, trading in my humble opinion depends on each individuals style, comfort, personality, etc. Therefore taking a mentoring program has limited benefits, especially when you cannot tweak the indicator to suite your trading style.
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