Interesting. On the 8/24 chart on the second short, looks like the entry was at 1052.5 +/- a tick. Then it pulls back to 1056.25 being in the red almost 4 points. Price goes back in the trade's favor and out with a 2 point profit. Big wide stop loss risking almost 4 points to get 2. On 8/3, the second short enters at 1116.75-ish and then out immediately with a .25 point profit despite the price going against the trade for 4 points before coming back down. I'm not sure what the differences were between those two trades and why the 8/3 one is out immediately while the 8/24 one takes the trade into some big red territory. There must be some other indicators not listed on those charts to keep the trader on the course? The first long on the 8/26 chart is a counter trend trade?
I looked at this site last night and those charts had a 20 SMA plot on them. Today the charts have been updated to show no MA at all.
It looks like some basic price action trades. Seems someone can pick up the same thing from reading Al Brooks' book.
Just my $0.02.
“Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.” - Sun Tzu
The following user says Thank You to cbritton for this post:
Thanks for the feedback, and sorry for your loss of money, both with the "system" and trading. It looked like he'd found a way, indicator-based, to catch a re-entry of a trend after a pullback; perhaps entering at the break of the swing bar after a trend had started to develop. Boy, that's too bad that he was dishonest about the posts. Would you mind sharing what the one indicator is that he bases it on? Perhaps there's a way to filter the losers, or to find a way to exit better?
Duh.... When I googled to this thread it took me to the last post and I didn't realize there were ones above it. So, it sounds like that old scam of putting a huge stop in to show lots of winners. And even then apparently false posting results. AND claiming that he uses a tight stop! People.... arghhh....