I have the reversion indicator and the momentum indicator (2 out of the 5 or so systems that they sell). They are both amongst the better of the many systems that I have come across. If you don't get any slippage then you will be able to duplicate the results they get. The signals are clear and unambiguous. Realistically you will often get slippage or conversely if you go in on limit then you will miss a few trades which will be the winners more often than not. Their theoretical performance over the past 12 months is good. I'd have to give it another 3-6 months to really confirm that they are still good and not just optimised over the past 12 months, but they are looking okay.
Can I ask if you are using the strategy during Australian daylight hours and going in to the European open?
I am in Melbourne and am trying to come to grips whether I trade during our daylight hours, or change the lifestyle around and wait for the US open.
I did have the "on-line tutorial" with George last week (wasn't aware of your post beforehand) and will be having another this coming week as I had a couple of queries, post the tutorial. The Reversion strategy does seem the most relevant one for me.
I also noticed that the screens used for the tutorial was a demo account - are you experiencing any significant difference with what you saw in the tutorial vs going live?
Nothing has been mentioned by the vendor regarding cost - does this all happen following the tutorials?
Actually the reversion system is one of the few systems that you can happily trade during the overnight markets. Most of my other ES trading systems are only during RTH which is inconvenient if you live in Australia. At the moment I am not using it much but rather just monitoring it. I am also looking at the momentum system on the 6E but still need to work on this to get something I am comfortable with because 6E has a different personality than ES.
I just liked it because when I tried to write my own scalping systems and backtest them they are usually big losers, but as I said previously this one comes out ok if you don't factor in slippage and commissions. I suppose if you had the patience to sit there in front of the computer for long enough you could take trades without slippage and therefore probably could realistically achieve maybe 80% of the expected profits after commissions.
Ultimately it comes back to your own personal trading style as to whether this will suit you. I just don't like the fact that I don't know the basis for the signals and I'm not comfortable with that.
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George showed me some historical signals for the overnight market which did indicate that it may be a worthwhile purchase (not knowing the cost yet). If I decide to go ahead and purchase I would be using it together with a support and resistance strategy.
I get your thoughts about not knowing the basis on which the signals are generated. All that I can remember George saying about them is that they are done so on the basis of 11 combined indicators.
The queries I have remaining, and hope to have answers for tomorrow, are around Risk/Reward setting and the generating of the exit signal if the trade goes against you and continues to go against you.