NexusFi: Find Your Edge


Home Menu

 





bill mcdowell


Discussion in Trading Reviews and Vendors

Updated
      Top Posters
    1. looks_one nqcruiser with 10 posts (3 thanks)
    2. looks_two cunparis with 8 posts (30 thanks)
    3. looks_3 trendisyourfriend with 6 posts (0 thanks)
    4. looks_4 turbolover with 5 posts (4 thanks)
      Best Posters
    1. looks_one longboat with 4 thanks per post
    2. looks_two cunparis with 3.8 thanks per post
    3. looks_3 ddnut with 1.5 thanks per post
    4. looks_4 turbolover with 0.8 thanks per post
    1. trending_up 43,686 views
    2. thumb_up 59 thanks given
    3. group 23 followers
    1. forum 68 posts
    2. attach_file 4 attachments




 
Search this Thread

bill mcdowell

  #51 (permalink)
 
TheSeeker's Avatar
 TheSeeker 
Germany
 
Experience: Intermediate
Platform: MT4, StrategyRunner
Trading: ES,EUR/USD,Oil
Posts: 127 since Dec 2010
Thanks Given: 81
Thanks Received: 73


cunparis View Post

Be careful of "setups". That implies a mechanical way of looking at the market, which is dynamic. Each situation is unique.

I learn a lot from FT71, in a more conceptual nature. He often tweets things before they happen rather than commenting in hindsight. And it's free. I can't see any reason to pay someone to comment in hindsight when you can follow FT71 for free.

You cannot apply setups/patterns mechanically but in the end, you are always looking for a reocurring pattern, theme or whatever you might call it.

Reply With Quote

Can you help answer these questions
from other members on NexusFi?
My NT8 Volume Profile Split by Asian/Euro/Open
NinjaTrader
NT7 Indicator Script Troubleshooting - Camarilla Pivots
NinjaTrader
Are there any eval firms that allow you to sink to your …
Traders Hideout
The space time continuum and the dynamics of a financial …
Emini and Emicro Index
Futures True Range Report
The Elite Circle
 
Best Threads (Most Thanked)
in the last 7 days on NexusFi
Get funded firms 2023/2024 - Any recommendations or word …
61 thanks
Funded Trader platforms
39 thanks
NexusFi site changelog and issues/problem reporting
24 thanks
Battlestations: Show us your trading desks!
24 thanks
The Program
17 thanks
  #52 (permalink)
 nqcruiser 
Cape Town, South Africa
 
Experience: Advanced
Platform: ninjatrader, ensignsoftware
Broker: ampfutures/Zen-Fire
Trading: 6E, Cl, TF
Posts: 120 since May 2010
Thanks Given: 15
Thanks Received: 51

Cunparis

u may want to revisit billsroom. he trades cl, gc and fdax now and on average, he takes around 50-70 trades on cl. however your expectations wont be meet even if u return to the room. he shows trades after the fact and never shows his DOM. the only real deal who shows trades in front of traders is simon from FUTURES fx and he charges much less for his system that bill.

i think part of bill's problem is that the few successful traders with his method uses other indicators and systems or widen his stoploss of 5 tics to 15 to allow trades room to develop,. Altough he sells his standard course for trading tf and 6e for 3000USD, no one has claimed consistently trading these two instruments with standard. Yet when he gives his webinars to prospective sheep willing to pay 3000, he claims my traders. Most of the those in the room are not successful. only one guy who lost his job and trades for 2 years fulltime, have claimed success. it is time sometime tells him that the majority of students are part of the 99% of failuers in the trading industry

thanx for all the inputs.

Started this thread Reply With Quote
  #53 (permalink)
 
turbolover's Avatar
 turbolover 
dulles ohio
 
Experience: None
Platform: nt
Broker: zf
Trading: gc
Posts: 28 since Dec 2009
Thanks Given: 18
Thanks Received: 8



nqcruiser View Post
(CLIPPED)
the only real deal who shows trades in front of traders is simon from FUTURES fx and he charges much less for his system that bill.
(CLIPPED)

I just REchecked both guys out the beginning of October 2011.
Simon at futuresfx dot ca is more $ up front, would be around $6600 for one year.
Dr. Bill McDowell would be around $6250 for one year, including the hotcomm license.

FWIW, if any others out there are considering taking one of these courses, I take the stance that I always perform my own due diligence, so here is a quick overview of my notes for both mentors to give you an idea of what I consider:

Bill McDowell (Bills Room)
Not a CTA, etc., but PhD in physics
Did not find a website for Bill McDowell (coincidentally named the same as another non-PhD trader).
Mentoring for more than five years.
Charges $3000US for standard mentoring on 6E and TF, $1500US for oil and gold mentoring, then $1000 per quarter thereafter if mentoring is still required, reduces to $750 per quarter if mentorship not needed.
Indicators "free"
After market close reviews (forgot to ask how many days per week), Saturday weekly review (sends out a recording if desired)
Saw his DOM when he was doing trades around 0600CST, he was doing sixteen contracts and when I asked him about it, he pointed out that it is the same
strategy he teaches, just four times the student contracts.
Looks legit, I just do not think he realizes that it is bigtime hard to do without indicators unless you are trading that way for years.
Minor criticisms: very professor-like, appears to be inconsistent on losers, but genuine interest in students

Simon www dot futuresfx dot ca
Registered CTA (four years registered)
Sloppy website and different domains raises red flags with me because it looks like it has been through various rehashing from other domain names, etc.
From their website:
The FuturesFX site that their lifetime membership is $6000US, then $49.00US thereafter
"Free copy" of their advances signal system (FuturesFx) $1,595.00 USD value
Another indicator called the G-Scalper Deluxe trader.
The G-Scalper Deluxe is available on its own for $2,995. USD
Another indicator called the A.C.E indicator

To summarize:
The baloney indicator pricing Simon Jousef shows on the futuresfx dot com site program listing turns me off bigtime.
Was able to reach Dr. Bill McDowell (billsroom) immediately by phone. Sounds very flexible and realistic about mentoring. Overall, it sounds like you will hold onto your training / mentorship $ longer with Dr. Bill McDowell, especially if you wait a month or so to do the oil and gold trading.

Considering it will take the average Joe six months of daily trading to be consistent anyway, it may be better to do the Dr. Bill McDowell course.

If others are interested, I will get more info on both and post again later, just PM me...
Big Mike rocks!
turbolover

Reply With Quote
Thanked by:
  #54 (permalink)
 
cunparis's Avatar
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
Posts: 2,565 since Jun 2009
Thanks Given: 1,162
Thanks Received: 2,093

I would strongly recommend avoiding any trading rooms where the trader does not show their DOM or orders real time. There are simply too many fakes out there. I know because I've been taken by several of them myself! In fact I'm not aware of a single room where the trader shows his DOM real time and is profitable. There is always a trick or something else to hide the real performance.

Personally, I think following a few profitable traders on twitter and asking them questions is the best way to learn to trade and it's 100% free. I know many profitable traders now and they're always willing to help others. It's amazing just how kind & generous they are. The guys who charge money for it are mostly crooks.

If you join one of these please let us know how it goes.

Follow me on Twitter Reply With Quote
Thanked by:
  #55 (permalink)
 
cunparis's Avatar
 cunparis 
Paris, France
 
Experience: Advanced
Platform: Market Delta & Ninjatrader
Trading: ES
Posts: 2,565 since Jun 2009
Thanks Given: 1,162
Thanks Received: 2,093


nqcruiser View Post
he shows trades after the fact and never shows his DOM

This is how it was when I was in the room. The problem is you don't know about all the losers. You only find out about the winners. Bill would get real quiet and then either say "I decided not to take that one" or he'd say "here's what I got on that one". This wasn't helpful for me at all and I left.

Follow me on Twitter Reply With Quote
Thanked by:
  #56 (permalink)
 nqcruiser 
Cape Town, South Africa
 
Experience: Advanced
Platform: ninjatrader, ensignsoftware
Broker: ampfutures/Zen-Fire
Trading: 6E, Cl, TF
Posts: 120 since May 2010
Thanks Given: 15
Thanks Received: 51

Be careful of Simon too. He trades outside the room during euro session but hardly shares his trades. I am banned by him.

Bill win rate og 90 percent is suspect. Y can't he trades and make a living from his skills. He charges for his room unlike others like tgtradergirl. Ft71 and many others

Also don't trust students in bills room. They r part of the scam and never show real results

Started this thread Reply With Quote
  #57 (permalink)
 
longboat's Avatar
 longboat 
Philadelphia, Pa
 
Experience: Advanced
Platform: Ninja Trader
Broker: Amp/CQG
Trading: CL, ES
Posts: 149 since Jun 2009
Thanks Given: 902
Thanks Received: 217

I would be careful too. It is a lot of money to spend. Both mentors trade multiple contracts and you can easily blow up an account quick that way. I bought Simon's course and I can say he is a great trader. He does show his dome. Does it mean you will make money? Doubtful. I didn't. Just because a mentor is a great trader doesn't mean he is a great teacher. All great players are not great coaches. I don't know if he is not clear or I can't understand his English, or the videos are not how he uses his method ,but I never felt comfortable enough using his method to even take a live trade! He has 6-7 charts open and Gomi ladders for each instrument. He hardly ever takes a trade off his indicators. Many times in the room he would take trades and I had no idea why he did. No reason according to his method. My advice save your money and pick a method here on futures.io (formerly BMT). There are many great ones offered through the kindness of the traders. Take the money you would have used for the course and make it your seed money for potential losses.

Reply With Quote
  #58 (permalink)
 researcher247 
Chicago, IL
 
Experience: Advanced
Posts: 437 since Oct 2009
Thanks Given: 289
Thanks Received: 773

Great advice below from the last poster!! Kudos, longboat!

"My advice save your money and pick a method here on nexusfi.com (formerly BMT). There are many great ones offered through the kindness of the traders. Take the money you would have used for the course and make it your seed money for potential losses."


My gut (and alot of forum posts and internet searches) says methinks McDowell is a no go for at least 95% of short-term intraday traders. Those are slim odds on the positive side.
----------------
I usually read the last 3 pages of a great method that someone here on nexusfi.com (formerly BMT) generously takes time to provide and give continued feedback on; then (if 'I dig the vibe' and/or the method 'speaks to me and/or my psychology/trading style') I go BACK and read from page 1.

Also, I view any archived webinar (if available); then I suggest to get involved and join the discussion guys!

We can find stuff everyone can use if we all are committed. Doesn't take a 50K account either; many 'tight' methods can be traded with ultra-low risk and great MM and trade management AFTER entry.

I would just like to write to any intermediate or beginning or near-breakeven or breakeven or slighty-profitable traders; put down the measly $50.00 USD and become an elite member.

I like futures/commodities; however, I just sent this email to my trading parnter (in response to another group of market researchers who follow forex).

My preference is hyper-short term trading (when scaling deeply liquid instruments; it is all good)--his preference is short-to mid-term swingtrading (he is not of my 'video game' generation).
--------------
--------------
"Good forex swing methods are found (as you know) in

a) forums (forex factory, other forex forums--confirmed by REAL forex traders with an OPEN dialogue); usually the method costs less than $150 USD and/or are completely free.
b) big mike (you kind of create your own stuff with good indicators--a recipe you make your own)
c) 'some' web/email sources

Good commodity/futures 'basket' sources we have (they require a much larger capital base and you have to diversify and non-correlate)."

Peace

Hedvig/[email protected]

Reply With Quote
  #59 (permalink)
 
turbolover's Avatar
 turbolover 
dulles ohio
 
Experience: None
Platform: nt
Broker: zf
Trading: gc
Posts: 28 since Dec 2009
Thanks Given: 18
Thanks Received: 8

I can vouch for McDowell and Roy Kelly guys because I had a trick to see any hotcomm desktop, including the area outside of the recording region (which included the DOM and their chat areas).

If the trading groups on hotcomm are representative of the overall mentoring market, then based on my own snooping around on hotcomm, I can say with certainty that nine out of ten of the mentors out there are not trading real money accounts no matter what they say, PERIOD.

Dr. William McDowell and the Roy Kelly guys come to mind as a couple of the very hard to find, legit traders I saw trade live on their own DOM.
Watched McDowell net positive 200 ticks day after day after day.
Watched Roy Kelly guys do precision entries that netted forty-ticks or better over and over again. They also had accounts with big bucks, so they had interbank feeds on the YM. Shocking how many contracts we never see outside of the exchange and how many ways the big contracts are arbitraged between months.

Hope that helps,
turbolover

Reply With Quote
Thanked by:
  #60 (permalink)
 
turbolover's Avatar
 turbolover 
dulles ohio
 
Experience: None
Platform: nt
Broker: zf
Trading: gc
Posts: 28 since Dec 2009
Thanks Given: 18
Thanks Received: 8



longboat View Post
I would be careful too. It is a lot of money to spend. Both mentors trade multiple contracts and you can easily blow up an account quick that way. I bought Simon's course and I can say he is a great trader. He does show his dome. Does it mean you will make money? Doubtful. I didn't. Just because a mentor is a great trader doesn't mean he is a great teacher. All great players are not great coaches. I don't know if he is not clear or I can't understand his English, or the videos are not how he uses his method ,but I never felt comfortable enough using his method to even take a live trade! He has 6-7 charts open and Gomi ladders for each instrument. He hardly ever takes a trade off his indicators. Many times in the room he would take trades and I had no idea why he did. No reason according to his method. My advice save your money and pick a method here on futures.io (formerly BMT). There are many great ones offered through the kindness of the traders. Take the money you would have used for the course and make it your seed money for potential losses.


What got me excited about McDowell was that I saw he traded several instruments well. Plus he did sixteen contracts at a time up until the open, after that it varied. I was initially optimistic because I knew I could do a smaller proportion of contracts with my small account. I also have to give him credit because he consistently met his targets, usually within a couple of minutes.
Where I saw him fail is when he chased trades or jumped between DOM's, so I cannot really fault his specific techniques per se really more of habits we all tend to have. Dang it is a whirlwind during regular hours and I am not anywhere close to his acuity, so I had to find something more entry-level.


Come to think of it, where both of these guys lost me was in their trading technique inconsistencies.


Yes, Bill McDowell does eighty percent or better, but remember, he is doing teeny TINY targets, versus Simon who is doing small to medium targets. The commissions McDowell pays is a MUCH higher proportion than Simon.
Simon has a more predictable system, but at the price of bigtime complexity and a massive learning curve.
Bill's system can wipe you out due to the degree of noise in the market, so they can be all or nothing type of trades.
My biggest complaint is that both Bill and Simon have vague rules.


My heart feels like it is beating out of my chest on some of the trades I take, even though I plan them out, so I need a very strict rules-based system for lack of a better word.

From a technical point of view, Simon may have the overall better system, but dang he is hard to listen to (reminds me of the nutrisystems multilevel marketing guy).

Bill is more professor-like and flexible in trading from what I can tell simply based on everything I have seen. (I have probably virtually watched over his shoulder more than fifty hours. Someone with more experience could probably find his methods easier to grasp and would not feel overwhelmed by the playbook / nuances of each market.

In the end I went with the eotprolive guys because I have a background in middleware programming, understood their trading analysis techniques almost immediately, have more control over the analysis within ninjatrader, and the trades have much more realistic timeframe to determine go / no go at my level of experience.
Yes, the analysis is more Elder-like and generic, but I have most everything automated now so I sweat a hell of a lot less. I use a mix of techniques and am reasonably confident I could do it for a living if I had more discipline...

When did you take Simon's course? Are you still subscribed? Did you purchase all of the indicators?
If you get a minute, PM me. I have been thinking of building a system that is a cross between the old-school Cisco Futures method and Simon's setup. I used the Gomi ladder under NT6.5 but ditched it when it started slowing things down.
Thanks,
turbolover

Reply With Quote
Thanked by:




Last Updated on March 15, 2015


© 2024 NexusFi™, s.a., All Rights Reserved.
Av Ricardo J. Alfaro, Century Tower, Panama City, Panama, Ph: +507 833-9432 (Panama and Intl), +1 888-312-3001 (USA and Canada)
All information is for educational use only and is not investment advice. There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
About Us - Contact Us - Site Rules, Acceptable Use, and Terms and Conditions - Privacy Policy - Downloads - Top
no new posts