I purchased the course a year ago. I have lost money. The results listed on the daytradetowin website cannot be achieved in real trading.
The reason is because he uses a large stop (-5 points) and targets of +2 and +4. If the trade reaches +2 and never reaches +4, he will take credit for a full +2 trade. But in the real world, a traders will take half at +2 and the second half at 0 or -2 (breakeven), which makes it impossible to achieve his results.
why would you work hard to even get his results as his results are pretty low. His avg /. 2009 is 22,000 for 20contracts (hope everyoen noticed), E Mini S&P Futures Trading Track Record
that brings avg to 22000/20 = $1100/month, that brings to $50/day for one ES contract. you can get this by working on any method/indicator from this forum, even if you make mistakes on exits/entries, you can still make 1pt/day
Everytime someone posts in this thread I get pissed off because this guy is still making money. These kinds of vendors have no problems making the cheddar they do. Absolutely astonishing to me that he makes money selling an ORB strat.
Anyway, I think it was Jeff or Cunparis that said the ORB has to take some drawdowns to have it work, but they are profitable. I still don't look for ORB trades as a setup or anything.
I bought this method a few months ago, and have used it with real money for 75 days. I use it just with 2 contracts. Here you have some REAL statistics, based on single contract trades. I mean, I use 2 contracts, but enter the information in Worksheet as 2 separate trades, as one contract can exit at a different price than the other:
Total trades: 160
Winner trades: 113
Looser trades: 47
Max drawdown: 29,75 points
Net balance in points: -29,75
Of course, I have given it up.
This method only make happy John Paul (the guy from DayTradetoWin) and my broker. As soon as you get some profit you get some stop loss and turn into negative. In 71 days, the most positive net balance has been 8,90 net points. This isn't a profitable method. I'm not sure the way he says to get those results but I have checked in my results some days he says to get positive results, and I got a stop loss filled.
The problem is the huge stop loss compared with the earnings. In my case (with 2 contracts) each stop filled are 10,2 net points. Every positive day are supposed to be 5,8 net points, but most of the time, 4 points profit target is not hit. It is very strange to get a +6. Stops are filled in just a 25% of the trades, but the other 75% of positive trades can't make the net balance positive.
About how much time you have to stay trading, is very variable. Some days in a few minutes you have done it, but other days you can spend up to 5 hours to get your profit target (or stop) hit.
If you appreciate your money, look for another method, this isn't worth its price.
The following user says Thank You to peponide for this post:
I've been a member of futures.io (formerly BMT) since October and this is my first post. I point this out because I too got sucked into the daytradetowin 'dream' and it is a relief to hear the latest conversation here. DTTW was my first venture into trading the ES and I don't know if it was his flashy website that caught my eye or what. I did do my research which took me a long time. Created a spreadsheet pointing out what news happened that day, how the market reacted, how many points I 'could' have taken, etc. I went into sim mode for 3 months and felt I could really pull this off. Even had dreams of finally trading full time. I went live in September and, as we all know, it's a different story when you go live. September was an interesting month and I went 4 straight trades hitting my 5 point stop loss. My biggest mistake here I admit, was that I started out with 5 contracts! Figured that was small based on John Paul's 20 contracts! I couldn't figure out why at the end of Sept I had 6 losing trades and only 3 winners. Far from the 'dream' that DTTW makes it sound like. Further to that, I got sucked into one of his $197 webinars where he didn't tell me anything I didn't already know.....but hey, I got a month of his indicator (which nobody needs). It's just the ORB indicator which is free on futures.io (formerly BMT).
All I can do is warn others that the DTTW method has been explained in this forum and I highly recommend that you save yourself the $700. The only good thing I got from DTTW is a wakeup call which sent me on the path to find sites such as futures.io (formerly BMT) and even DH at Emini Addict.
PS. All you really have to do is listen to John Paul speak. He gave me the creeps and something inside was telling me to run. Probably that same voice that tells me to sell instead of holding on......damn you GREED!!
The following 3 users say Thank You to Boonja for this post: