Platform: NinjaTrader (It's a love/hate relationship)
Favorite Futures: CL, TF, 6E
Posts: 176 since May 2010
Thanks: 60 given,
I bought the system out of sheer curiosity.
IMO the exit rules and money management are weak. Like most things presented as "systems", it is really mostly an entry method. Frankly, entries are the least important part of a system, and this one like most, focuses mostly on the entry.
It's incredibly easy to look at a chart in hindsight and pick entries and say, "This one was worth 20 ticks... this one made 40 ticks.. etc." In realtime, knowing when to exit is crucial. In real life, you will often give back those 20 ticks whenever you try to make 40.
I felt this system was very weak on the exit strategy. I never visited the room, so I can't comment. I can say that the customer support is exceptional and the seller seems like a very nice honest guy. But I'm here to make money, not friends.
January's results trading the system live-- I am up 436 pips. 13 winning days and 2 losing days. Having two targets has been working well for me to ride the trend. Watching s/r levels helped me to filter out trades...and hold on to some longer too.
While the system might not be the sliced bread the critics love to point out, it is a good starting point and it has been performing better for me than 99% of the other rubbish systems out there for free or many times the cost
The following 7 users say Thank You to sunpost for this post:
Sorry, but I tracked this system during January and under no circumstances did you achieve those results by following the system that you purchased. If you are using your own "filters" or nuances and achieving good results, that's wonderful. But do not represent to others that you are doing well because of this system. Wgreenie is using this system (and I might add, already adding additional indicators and new markets to try and find a trade) and I don't think her results are even remotely similar to yours. Check her thread if you'd like an update. Buyer Beware.
The following 2 users say Thank You to timefreedom for this post:
Please be advised that I started with the Sniper set-up with some safety wheels in Nov. As weeks passed by, I succeeded in removing most of them except keeping the PriceActionSwing one for plotting HH/HL/LL/LH. I have recently added a second instrument CL (in addition to 6E) and started looking at the Ergodic indicator last week.
I believe Sunpost has been trading a different market (forex) and often finishes his trading before the regular trading hours. Other Sniper traders have their own trading plan (incl different PT/SL/Contract Size/Instrument(s) + different trade management skill) and it's unfair to compare their trading results even they maybe using a similar system to identify signals.
The trader himself/herself is responsible for all trading decision incl purchase/creation of his/her trading system and trading/game plan. Do your own homework and decide. Be prepared that you may have to try "x" number of systems before settling down into one. I don't see an issue in adding/removing one or two new filters when enhancing a trading system.
Good luck with your search!
Good Trading is about Trading Right!
Want What the Market Wants!
Trade With the Trend!
The following user says Thank You to wgreenie for this post:
Yes, absolutely. You've traded this since November when they gave you a copy. And many, many people from this forum purchased the system because of your initial enthusiasm. And yes, you have added another market in addition to 6E because, frankly, there have been seldom few winning 6E trades during the month of January. I didn't say on a particular day, I said during the MONTH of January. And yes, you did add the Ergodic indicator. Why? Because someone in the chat room suggested that they were using it to filter trades. That's it. No more, no less. Just someone who like me, was naive enough to spend money on the system, likes the Ergodic. Well... be sure and Google the indicator so you at least know what it is, what it does, etc. Then, if it helps, terrific. Maybe the folks who peddle this system will incorporate it. And yes, perhaps Sunpost is trading a different market at a different time. If you read the marketing material, this system is pitched for the 6E market and they run their chat room from 8 a.m. EST to 11:30 a.m. EST. During that period of time and on that market, the system has not worked for you (or anyone else.)
And finally, yes, every trader is responsible for their own actions. But frankly, that is like when a chat room moderator says something dumb like.. "you guys can take this one if you want to." I think most traders know that it's up to them whether or not they pull the trigger and enter the market, or pull the trigger and buy a system. In this case, I pulled the trigger and bought a system... and it was a "bad trade."
The following user says Thank You to timefreedom for this post: