I followed the eminisniper trades since friday to see what the fuss is about.
I'm not going to explain the system since I understand that they worked something out, and if you want it, go pay for it.
Last Friday, they took 3 trades in the room on the 6E (the 6E is the instrument it should work the best) and all 3 were losers.
This morning I traded their system, I took 2 of their standard trades (live) with 3 contracts like I always do, both of them stopped out. They were perfect entries according to a seasoned eminisniper trader.
Then I took 1 divergence trade, the so called highest-probability trade, and again it was a looser. It was a perfect entry according to their system.
So far, I can't say I'm impressed with their system. They say January hasn't been good compared to last year.
Let's see how it evolves.
The following 4 users say Thank You to MetalTrade for this post:
interesting to hear about your observations of eminisniper.
Would you mind posting the entries for the trades of this morning ?
I like to use oscillator divergences, too, and trade bounces from moving averages, but only when there is confluence with certain areas of the market profile, so that limits the number of trades drastically (but also increases accuracy).
While I have found good ways of employing market profile in trading, I feel my technical analysis could be improved upon, that's why I've been thinking of taking a look at eminisniper.
Will also explore ESFXtrader's CCL scalping method, quite impressing !
E.G., I had one setup at 8.03 Paris time in the EUR/USD - short at about 1.2917... confirmed by divergence. No further setups thus far in the EUR/USD.
I have been on vacation, so I don't really know how the markets moved the past few days, but It seems that even though the eminisniper system trades with the trend, the system actually gets very few entries in strong trends. Because they trade deep pullbacks, they miss all the shallow pullbacks of very strong trends. There has been an occasional mention of an alternative entry method to catch some of these shallow pullbacks, but it is not an official part of the method, I think, and they do not trade that entry in the room.
The following user says Thank You to monpere for this post:
Sorry guys, I can't give anything about the trades, I don't find that fair since it's a commercial system, I payed to use it, not to give information about it away.
Since I joined because everybody was raving about the results, I feel that I can also post my results, and they are BAD. I lost money (more than $1500 now) by taking those trades of them, but that's completely my responsibility.
The following 2 users say Thank You to MetalTrade for this post:
I entered on the exact same way you should enter, just like they enter in the room. On the exact same price level. Stop limit orders.
They are saying that December was great, but January is not. Well, I'm trading in January, not in last month. I don't care about my trades in December, that was December. I care about my current trades now.