I read your posts and I really do not understand what do you want to say. I have a very simple suggestion for you. Go to the page goldenzonetrading.com login for a free pass to his live trade room for one month and followed by all of his trades in the next month. Then makes a conclusion and see whether his method is successful or not. Regardless of whether traded live or on a sim account. It is totally irrelevant. It's as simple as that. All the rest are fairytales.
I would do that. The thing is you trade different on sim than on live. If he can trade the same on sim as its a live account then thats a rare talent to have. Very rare. I'm sorry , I just can not get my head around it. If you have a profitable system , you sell it for $7000 the Mastery Course, yet you only trade sim. It just doesn't make sense to me.
Last edited by GlobalTrader; July 1st, 2016 at 07:24 PM.
“I have finally gone live today and what a Baptism of Fire it was for me. I was completely unprepared for how much of a different beast the live market is. I was stopped out for the day at 08:30 am. That’s terrible.
The fills and slippage took me and caught me completely unaware. I got slippage on fills and my stops. Also it feels like the live market moves a lot faster than the Sim.
For the last 2.5 months (on the simulator) I have been on a good solid run with something like 5 down days in that period and they have all been very small down days. No bigger than 6 ticks. Whereas my winners have been 10 ticks plus consistently.
Wow. My head hurts from this eventful morning.”
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Can you tell me how good this Print Profiler please. What makes it better than others? I have had a look at it , but don't own it yet. Priced at $1500 USD I think. expensive. Is like Market Delta footprint? Better or worse?
TradersAccounting had a webinar last year in which they had a guest lawyer. I'm not a lawyer and can't give advice but his clear view was that you need to be properly licensed trade live in front of "clients". Others think differently and I think the regulation is unclear which creates a frustrating situation. Dean Handley (brought up earlier) holds that alternate perspective, and I respect that until there is absolute certainty that commercial interests will pick interpretations that facilitate their business activities. As far as GoldenZone (GZT) goes he says he trades in SIM for this reason and given even a remote possibility of a US style RICO or SEC/CFTC investigation I completely understand anyone wanting to stay far to the right side of the regulations.
For you and the rest of us it means all trading results we see in SIM rooms have to be adjusted for true fills, for slippage and for a realistic assessment of how you would have done trading that style with your money in that market. In my view that last one is the real killer, in the same way that two traders trading the same system can have divergent outcomes. Others on futuresio cover the psychological aspects better than I can, however with respect to GZT I note that he doesn't take a lot of trades so there would be fewer deductions compared to medium to high turnover systems. I also believe it is easier to take a trade and not second guess yourself in the heat of the moment when there are a clear set of characteristics that have to show up. The use of Bloodhound templates avoids any uncertainty, not just with GZT but other Bloodhound integrated vendor products. [I am a semi-fanboy of Bloodhound for this reason, and not so much for a variety of other reasons that I may write about some other time]
GZT took a significant turn in product offering when they moved into the volume profile space compared to earlier offerings of divergence and supoort/resistance zones. Some of the indicators are recycled and seemingly improved versions of FatTails indie's such as IntradayRanges, RelativeVolume, anaCurrentDayVWAP. I had assumed GZT was in partnership with FatTails but he is part of LizardTrading with some overlap of indicator offering.
For me there are really two indicators that standout. The first is the ability to highlight an area of the chart and get a volume profile for just that area. On its own this isn't exceptional and OFA/Algo has a nice looking equivalent. I haven't bought either of these but I'm seriously looking at these and a few others. What is unique and I haven't seen elsewhere is the ability to take that volume profile window and slide the whole thing forwards or backwards in time. [I would really like to hear if anyone has seen other similar offering]
The other capability that I haven't seen elsewhere is dynamic profile lines, eg. there is a line for each of the POC, VAH, VAL, H and L. Most vendors and rooms use profiles from later in the day or end of the day to discuss what they did or would have done. Its fine using a profile realtime, but that end of day profile especially when looking back at prior days isn't what you would have seen at the time of the trade. These dynamic profile lines are. As a result you could use them for realistically doing visual or system backtesting.
Just because something is an amazing indicator doesn't mean it will make you money and here's the rub. It is notable that the various templates formalize just a handful of specific trade setups which they state are the basis of the trading room. In the GZT webinars the equity line used to be upsloping but has been flattening out over the last year or so. While there are some unique tools in their suite, its not surprising that people aren't making money live if the profitability appears to be trailing off in SIM.
These are observations are based on simply what GZT presents to the public. I'd welcome feedback especially from people that are trading live in their room.
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If you haven't already looked AuctionDashboard product is pretty good (a lot of information and you can turn off the "propitary volume calculations that include mixing actual trades and Dom values). Although some people have had issues with support from such a small shop.
Another one is DiscoTrading. That product is only a Volume Profile tool but it is nice.
I was interested to find this post on GZT here, as I've recently had an interesting conversation with Sean Kozak. It's worth mentioning that this wasn't my first interaction with Sean, as we spoke several times while he was working at Shark Indicators. I do own Shark Indicators Bloodhound, and have a love/hate relationship with it, but nothing from GZT at the moment.
My previous talks with Sean was when he was marketing the various partner relationships with Shark Indicators around 2014. As a marketer, he is great - maybe one of the best out there. He has a clear presentation style, and always seems to be bubbling over with positive energy. I ended up buying one of the partner add-ons for Bloodhound, which I'll not mention here as it's a long story and besides the point. Sean worked up this add-on as almost the holy grail, and admittedly was very much influenced by his zeal and belief in that product. The product wasn't bad, but it was overpriced for what I got. A few months later, I saw Sean Kozak's name associated with GZT, and had a hard time separating this previous stigma in my mind.
Now fast forward to the present time. I'm getting lots of emails about Golden Zone Trading, mainly from Shark Indicators. So decide to go ahead and take a closer look. The first thing on my agenda is to look for the selling price. Wow, $7000 for some "Mastery" program... To be fair, I decide to give GZT the benefit of the doubt and start watching the free videos, and also sign-up for the 5 day video training program. Overall, I have to admit that I like the approach - volume profile, fib confluence (although nicely configured pivots are arguably sufficient), market delta, along with these real time volume zones, all on one chart - nice. Other items are somewhat disappointing - especially the MACDBB/momentum oscillator combo. These are things that are free from several sources - namely here on this website. There are a lot of cool oscillators out there, and at the end of the day it's just another oscillator. I've also got at least a half dozen divergence indicators, and am not sure what to do with yet another one. That said, we move on...
As mentioned, I'm looking for value - like what has been done to warrant 6995 US dollars from me to someone else. Okay, so my ears perk up when I hear the word "backtested" several times. That can take a lot of work, and can be useful if the data is analyzed in a thoughtful manner. I'm talking about backtest, walk forward optimization, in a context that has identified regime changes in the market. So all this prompted a phone call to Sean who ended up talking to me for almost an hour one-on-one. My focus was really about the backtesting, but also to some extent the Bloodhound integration and whether GZT was looking at Shark Indicators new product - Blackbird which is still in beta at this writing (and am finding interesting, but is definitely another topic).
In this energetic and positive conversation with Sean, I really did not get the answer I was looking for with regards to backtesting. In a somewhat vague explanation, I get the impression his team has made extensive observations that have led to the various settings on templates and data. For example they appear to use a variation of the range bar, and each market has a specific value for the range tick size. This is helpful, but not exactly what I was looking for. The interesting comment from Sean was after I mentioned his stint with Shark Indicators. He wanted to make clear that GZT was around before his involvement with Bloodhound. On a positive note, I do believe that Sean is an honest and transparent person. Despite the hype factor, I do think he really wants to provide a complete and easy to use setup. So back to the value statement, Sean is really selling a concierge service that he tirelessly devotes all of his energy towards. He's quite organized, and is good at packaging ideas together. For those who have a hard time remembering all the details of trading, or are not consistent in approach, I think Sean has something for them. However, with any concierge service, there is a price tag.
Bottom line: I think GZT Mastery is a decent package that provides some unique features and is focused on the right things. I also think it comes with a huge price tag, but may be worth it for someone who wants another person to put it all together for them.
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Goldenzonetrading is no longer using Goldenfibs. This product was sold by GZT for $999 USD, now they don't use it. Apparently they are using market profile algo that gives a better s/r line. You can have our new indicator for just $999 and a free pack of steak knives. Seriously, i don't know the price, but you know what I mean.