$449 for bars and you pay $50 non-refundable for the right to try them. Now that's chutzpah. Be advised the UltimateRenko bars he's peddling are white label from PureLogik and these are virtually the same ones you can purchase from Rjay at a better price. The UltimateTick may also be from another developer--of this I have no knowledge and nor do I care. Holy Grail bars....yeah right.
Rob Mitchell has a colorful if not checkered history in the trading community. His first claim to fame was a prediction service which made calls where the ES was going to trade days in advance. A bit like using a crystal ball or Oiuja board. His second act was an ES autotrader called Gina, which like so many promising expert systems, started out hot (with a 12 point stop) and then melted into neverland just as he started putting on a full court marketing press. Funny how Mr. Market deals with trader's hubris.
The moral of the story never changes. There are those who trade and that is their sole source of income. They don't need the gratification to teach, sell indicators, kill time, be a part of a community, or consult newbees for outrageous fees to augment that income. They love the leisure time trading provides to them and their families. They are known as "professional" traders. (By the way, they are not one and two contract traders. They trade size and lease seats from the exchange to reduce trading costs.)
And then there are all the rest who fail at trading but want to live off the backs of aspiring or unsuccessful traders. Mr. Mitchell is in this camp, despite his self-serving history posted on the website.
Last edited by SarahKrantz; June 15th, 2013 at 09:50 PM.
The following 5 users say Thank You to SarahKrantz for this post:
Like that statement. I'm starting to hear increasing barrages of radio ads from dubious trading schools and gurus promising extra income, or quit your job soon. These organizations must have multi-state marketing arms. Now they are latching on to what the old MLM ads used to do with their late nite radio ads.
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Any way of looking at the market (indicator) can work, with the right perspective, risk management, and psychology.
No way of looking at the market (indicator) works without deeper context and understanding.
If it speaks to you and tells you something you want to know, if what you want to now comes from experience without that indicator, and if you can see that the benefit of the indicator justifies the cost... If you can work the math, the question will answer itself. If you can't, it is no better than the hundreds of things that are available for free.
NO indicator will make someone a trader. I'll bet you.
The following 4 users say Thank You to GaryD for this post:
Like with anything, bars are just a tool and you have to use the right tool for the job. There are no magical bars that are best suited to achieve everyone's goals and will suite everyone's method and trading style, it just doesn't work that way. Before you pay money for something you should consider if it is the right tool to achieve your goals. To do that, 1) You have to have specific goals, 2) you have to have a fundamental understanding of how the tool works, 3) you have to spend quality time evaluating whether it is in fact the best tool to achieve your goals. I can tell you that I've programmed half a dozen bars with specific goals in mind and I don't use most of them for lack of fulfilling step 3.
If you are randomly purchasing things because some vendor says they are the best ever, then are you most likely wasting your money. I would be especially wary of any vendor that does not provide a free evaluation period or charges the full amount up front with a promise to refund your money if you are not fully satisfied. Good luck with that.
Edit: To clarify, this post wasn't specifically in response to the OP, just a general soap box post to purchasing from vendors in general,
Last edited by vegasfoster; June 16th, 2013 at 12:40 PM.
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Although I find his UTB bars interesting for theoretical reasons, I'm hesitant to try them because you have to beg for money returned if not satisfied and you're hit for a $50 fee for the privilege of trying them out. This is a big red flag for me. A few vendors do offer an entirely free trial sometimes of only a week but that's ok with me if it's back testable.
The following user says Thank You to topstep for this post:
I have a better idea for @datahogg. Save yourself the time of evaluating something that is no better than anything you can test for free and just send me the $50. I'll take my wife out to dinner and post pictures here so you can see how much we both appreciated your contribution to our date night.