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David Halsey's Emini Addict Review (www.eminiaddict.com)
he is the only person i have seen that real knows how to trade fibs.... buy his book it has all you need.. to much info on his sight to go through ... time waster... you real only need to know what a measured move is... forget about his market breath stuff ... i would no go there
My personal experience with David is short...only a few months.
For a very reasonable subscription rate of about 30.00 David performs a comprehensive market analysis from the viewpoint of his fib based strategy on indices, gold, oil, and the dollar. His analysis encompasses RTH as well as overnight markets. So actually his analysis occurs a couple of times a day.
As others have posted here there\'s a ton of information on his website as well as in his book that explains in depth how he views the market through the lens of fib retracements/extensions and TICK action.
The guy has been trading for a long time and this becomes obvious within a very short time of joining his room. He brings a very professional delivery style to his presentation of the market while fitting it into his particular setups in various time frames.
David is very smart, consistent, and committed. But as for calling trades its 100% up to the subscriber to pick his or her spot to enter the trade, place the stop, and manage the trade. He does not perform any of that but its apparent he's trading every single chart that he's presenting.
The system he presents daily is not one that produces a trade setup every day or two. His setups will provide more trades in a day then I personally would want to take. But it also signals swing trades for traders that prefer a longer time frame.
I cannot say that I have mastered the technique of drawing the fibs as he does. But his webinar based chat room works flawlessly (even on my Android tablet) and allows the viewing of a single screen TOS workspace that contains all of the charts he covers with the extensions drawn by him, the master of his system.
Ultimately I use it is as a time saver as well as a confirmation of my own work. Throughout the trading day I monitor his levels and how they fit into my own analysis and triggers. These levels may support my trade or not but his depth of understanding of the market is such that I would not recommend fading him and I avoid doing it. So in this respect he very much influences my trading in large part by clearly establishing the current trends as well as those shorter timeframe trends within trends of the contracts he covers. I've never seen so much work produced in any room that I've joined, and there have been a few in my time spent trying to find my own way in the futures trading world.
Mike, imo you should definitely interview David and traders new and experienced should go there and at least look at it by taking a 30 day free trial. I don't know for certain if you will learn anything new (although I would bet you will) but what you will see is a guy who is a disciplined, long standing professional trader who sticks to his plan 100% and never (and I mean never) gets distracted by noise. Yes, right now he believes heavily in the 7 year cycle and that the markets are in for a very big awakening but that does not influence his trades. He only trades support and resistance when and how his system dictates the levels.
I agree with you Doug. I joined the emini addict a week ago having read about it in this thread when I joined this website 2 weeks ago. I have learned so much from DH (this group too) that I look forward to getting up in the morning to start my day on the trading platform and his trading room/chat room. Last week, I finished green and could have been very green had I had the discipline needed to be a good trader. I still have a lot to learn and understand all the info DH talks about but I am sure time and patience will remedy that.
For any new traders out there reading; try the 7 day trial and see for yourself. Even at $30 a month, you have nothing to lose if you want to learn how to trade.
I'm just looking at the thread waiting for the drier so I can go out
I'm curious as to why these days? From my own experience (analysis my daily revenue) I would say take off Wednesdays for the ES/other Indexes and Fridays are by far the easiest money days for me (40% higher on average).
Has he stats to back this choice of days or is just so beginners don't overwork and keep their energy up kind of thing?
Rory...Cannot answer you if there are STATS available...Based on his strategy and his many years of real time trading he has determined that Mondays and Fridays are less technical therefore lower results are expected. His saying is "half size or not at all". Of course everyone does their own thing and he admits that he breaks his own rules occasionally.
Some people here have stated that his trading is "just Fib retracements and 50% HWB". Well if they are saying that he doesn't use other studies then yes this is true. But the guy possesses a very deep knowledge of his system and how to make it work for his bank account. As I stated before, his discipline, work ethic, focus, and knowledge are well worth the price of admission. Plus its definitely helpful for my trading especially as a break from all the usual adherence to trendlines, studies, and patterns. Yes he is aware of patterns but only within the construct of what the Fib measured move is displaying.
If you are doing well I wouldn't change anything. But just the one move of ditching the ES for day trades and moving to YM increased my "free trade" percentage by double. That was just one tip I learned from Halsey.
Though he uses fibs (I´m not a fibber ) I shall have a look for a friend. He had a slip of the tongue remembering ES point value $50 not $500 which was odd in a video but he sounds intelligent enough.
I am a very agressive large scale trader however what I do cannot be handled by a beginner which my friend is. If can actually use Fibs in a statistically significant manner that would be interesting to see, theres always a debate on that.
Hi Doug, in one of you threads you state that DH recommends not moving your stops but I saw that he does advise moving them when first targets are hit. I might be wrong but if you could explain that it would help me understand better. Also, on a private email I went Doug when I first joined last week, he emphatically stated that I should only trade the YM and only use the es as a guide. I didn't understand that and didn't want to ask for an explanation hoping I could figure it out myself, but could you explain that to me. I see the YM follows the es. So where ever the es goes, so goes the YM. Then what is the difference other than contract cost? Any insight helps. Thanks
Our goal is to get a free trade. The YM contract is broken down into smaller tick values and more free trades are achieved with YM. So with a 3 contract trade we would set 1 to sell at 6 ticks, the 2nd at 12 ticks, and the third is up to you to either use the target set by the fib or whatever resistance or stop you want to use after that. But the initial stop is always 12 ticks and not to be moved unless you decide to make it tighter
