He's currently trading only 1 contract on the TF. He's only recently gone live after about 18 months of historical analysis, replay trading, etc. He's been live for about 2 months. His first 3 weeks were rocky as he let some of his emotions get to him, but lately (over the last 4 weeks) he's been trading well. He's still having an issue cutting some of his trades off too early, but he's only had 2 red days in the last 4 weeks, and he's averaging $120/day (before commissions) on that one contract.
The method Horst shows is legit - but I don't think it's ground breaking or a big secret. He shows you how to use Fibonacci levels and MACD bb's over several time frames to determine the probability of pivots occurring. When the MACD BB's indicate that a move is coming AND it coincides with an established fib level you enter the trade. The mechanical part of the trades isn't what is going to really help you all that much. That knowledge is fairly well known and can be researched and confirmed with historical study of the market you're wishing to trade. If you're struggling then more than likely your mental makeup needs to be improved.
I have ZERO affiliation with Horst. I've never given him a dime, I've never taken a dime from him. I have been subscribed to his email list and I know 2 former students. One student that trades well because he's taken the time to master himself and another that can't trade this (or any) system because they have too many psychological issues.
I hope that helps.
The following 6 users say Thank You to RMorgan for this post:
I am using Horst method 70 percent. Based on my own research and because I am trading the YM not the Russel it is a bit different. What you should know about this it is more subjective than objective. Meaning you can always justified the market move with it
But. Just like your friend I have been started it one year back. This is not a shortcut it will not you make you reach it is what everything else. A method what you have to master your own! So I agree with @RMorgan. Only thing what I can say I loved my session with Horst, he is a funny guy, but I have choosen him based my own research and after I have checked his video blog.
And again the road and the journey is there no shortcut no holy grail, only you can make it at the end
i have taken the course and for me i have nothing but praise for the program . I have been consistently positive and i do know from others who have taken the course have the same perspective. you're right , its not just a few hundred dollars but after taking the course and have a new incite 'under the hood' on how things work i cant imagine NOT taking the course and trading the emini's
thast my personal take
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I was trading the TF and built my system around Horsts... I think it's ridiculous that ICE wants to bleed traders for data so I switched to the mini-nasdaq and I gotta tell you I love this market more than the TF.
for this original post and anyone who reads the thread... I just think it's all about research, studying, looking for correlations, managing risk and patience. Personally, If I was making $10k or more a week trading the market, I certainly wouldn't need $5k from students.
The BB's are a great indicator, but really - it's about seeking out areas of confluence and using the only 'real time' indicator that's available which is price action. Horst from what I have studied is very consistent, but that consistency is really developing patience and not pushing for huge targets. He manages risk very well.
Again, I implore anyone who's seeking to plop down $5k on a tutor to really give it a go on there own. Mike has done an AMAZING job creating this awesome place for day traders of all shapes and sizes and all the indicators you need are all here for free. Thanks to Mike i've been able to pick up some great additional tools on here that I didn't have access to. I believe this is my first post on here and I'll try to get better at posting. But seriously, put the time in. Don't be in a hurry to quit your day job and jump into this full time. If you put the work in, meaning that you'll read and research and study charts, you'll figure it out. I spent 5 to 10 hours a day at night after work reading anything I could and studying the market. I was obsessed and passionate about learning it. To me it wasn't a job, it wasn't a get rich quick scheme, it was a career move that I eventually want to jump to. As they say, if you love what you do you'll never work a day in your life and trading is certainly a love that I have found.
That's just my 2 cents.
The following 4 users say Thank You to loopcap for this post: