60 Minute Trader

speddoch

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Does anybody have any info on 60 minute trader. As far as I can gather the method fades the DOW shortly after the open.
Thanks
 
google search throws this up.
http://www.netbookpublishers.com/title/hpmarketing/60mt

Never before seen, brand new, but with loads and loads of testimonials? mmm!

Scroll down to the bottom and click on a link there and you get taken to a world of opportunities!
Even a new system to beat any lottery!!!

Don't know if the 60 min system is any good or not. But as for claims of never being seen before. I seriously doubt that.
 
speddoch said:
As far as I can gather the method fades the DOW shortly after the open.
Haven't heard of it; but there could easily be "something in it" with good money management. I sometimes trade the Dow during the first hour, and there's quite often some sort of reversal during that time - quite often at about 9.45 or 10.00 US time, it seems to me. Others on this board know _far_ more about the Dow than I do and if you're lucky, one or two of them will reply.
 
It is an approach that was developed by a member of this site but I will refrain from saying who.


Paul
 
Can't say as I wold imagine the idea of fading the DOW or any other instrument as new. I came across this tactic about 3 years ago. The priciple being to fade an opening gap in indices or stocks if certain entry criteria are met, the way I saw it played was to enter the fade anytime after the first 5 min, and the proponents of it at the time didnot claimto have invented it, so likely it has been around for a while.
 
I recently purchased the eBook after corresponding with Chris regarding a few questions I had. I found him to be very pleasant, courteous, and expeditious in his responses. The book actually contains two methods - one for the opening session and one to daytrade with (if so inclined). I have no problem recommending the book as it seems to have performed well under the limited backtesting that I have done since my purchase... I've spent a lot more for a lot less...

Rick





speddoch said:
Does anybody have any info on 60 minute trader. As far as I can gather the method fades the DOW shortly after the open.
Thanks
 
I picked up a second hand copy of 'The Logical Trader' for £20 from amazon. This is written by an actual trader and contains a method for fading, when the set up is correct. This is just one part of a method and there are several other interesting ideas. I can also sell the book, for about as much as I paid for it, if I don't get on with it.

I think this is far more sensible than paying $97 for an e-book that is probably worthless. I would also prefer newbies to make a few posts before recommending something. It just doesn't fill me with confidence when I see a reccomendation as a first post.
 
Bigbusiness said:
I picked up a second hand copy of 'The Logical Trader' for £20 from amazon.
That was certainly a good buy. I think I paid nearer £35 for my copy.

Bigbusiness said:
This is written by an actual trader and contains a method for fading, when the set up is correct.
Funnily enough, that's also true of the book being discussed in this thread.

Bigbusiness said:
This is just one part of a method and there are several other interesting ideas.
Funnily enough, that's also true of the book being discussed in this thread.

Bigbusiness said:
I can also sell the book, for about as much as I paid for it, if I don't get on with it.
Good point. As I said, you bought a bargain.

Bigbusiness said:
I think this is far more sensible than paying $97 for an e-book that is probably worthless.
It would be, but actually the book being discussed in this thread is far from worthless.

Bigbusiness said:
I would also prefer newbies to make a few posts before recommending something. It just doesn't fill me with confidence when I see a reccomendation as a first post.
So would I. I completely agree with you. On various occasions throughout these threads I've made exactly the same point myself, and politely explained to the newbies concerned why nobody round here is going to take them very seriously.

But the other thing that really, really doesn't fill me with confidence at all is when someone who _hasn't_ read a book dismisses it (incorrectly this time, as it happens) as "probably worthless" without even the defence that he's a newbie poster. That's not doing anyone any favours at all. Rcfran may be a newbie giving an opinion that you didn't want to see, BigBusiness, but IMHO you're making a bigger mistake giving your "probable opinion" when you haven't even read the thing!

As it happens, I have read it, have studied it, have paper traded it quite a bit, and I agree entirely with Rcfran's view.

I've also corresponded a little with Chris, and like other contributors here have also found him to be very pleasant, courteous, and expeditious in his responses. I also have no problem recommending the book as it seemed to me to have performed well under the testing that I gave it. And I've certainly spent _very_ much more for _very_ much less!

Comparing it with "The Logical Trader" is really not comparing like with like, IMHO. And yet, having read both of them and used things I've learned from both of them in my trading, I must say that to the average trader, I would have thought Chris's e-book is actually of far more use, easier to understand, and I suspect in the long run might even turn out to be more profitable simply because it's more practical and more readily tradable. I don't know Chris personally, and can't therefore give any opinion of him as a trader. I'm not for a moment suggesting that he's likely to be in quite the same league as Mark B. Fisher, obviously, but he's certainly written a good book which will be helpful to many people. And it helps nobody to insult the book without having read it.
 
Roberto,

I was going on the previous times I have wasted money on e-books. I have also managed to get hold of several of them for free but have yet to see one that has anything that is useful or can't be found on the internet for free. I just don't like e-books. If there was a way of loaning them from an e-library or selling them if I don't like the contents, then I would be interested.

I also believe that some trading methods just don't suit my trading style and as there are so many cheap and free methods to try, I don't see the point in wasting money buying methods that probably wont work for me. And as Mark B. Fisher is keen to point out, paper trading is meaningless.
 
Bigbusiness said:
I just don't like e-books.
Fair enough :)

Can't talk you out of that point of view and I'm not going to try, but that doesn't make a specific one that you haven't read "probably worthless". At WORST, it makes it "probably worthless to me just because I don't like e-books". Which is very different!

IMHO you just picked a bad example to criticise without having read, because it's actually one of the good ones! But that's what can happen if you opine without reading! :)
 
Bigbusiness said:
I picked up a second hand copy of 'The Logical Trader' for £20 from amazon. This is written by an actual trader and contains a method for fading, when the set up is correct. This is just one part of a method and there are several other interesting ideas. I can also sell the book, for about as much as I paid for it, if I don't get on with it.

I think this is far more sensible than paying $97 for an e-book that is probably worthless. I would also prefer newbies to make a few posts before recommending something. It just doesn't fill me with confidence when I see a reccomendation as a first post.

How do you know the author in question is not a "real" trader as well?

This is exactly the response I expected... Some time ago, I voiced my opinion on another trading board regarding a question asked, and was equally dismissed and attacked. As you can see, I "officially" joined this board in November 2003 and had mainly been a lurker until now. I simply responded to a question of which I have asked many times myself in the past - Is this manual/eBook really worth my time & money? Since I had recently purchased the manual in question, I felt it appropriate to respond. I've been trading since 1998 and have spent countless dollars on books/eBooks, manuals, systems, indicators, etc...all with the hope of gleaning a bit of information that may improve my trading. Some are worthless, yes, however, most contain something, at the very least, that turns out to be useful. I'm always open to new ideas and strategies and felt that my money was well spent this time - and no, I have absolutely no affiliation with the seller of this book whatsoever.

Rick
 
Rick,

I didn't attack you, I just stated my opinion about buying e-books and said that I am not filled with confidence when newbies recommend something with their first post.

As for this particular e-book, I was sent a copy of one of the authors previous e-books to review but I decided not to, as the method described in it just wouldn't work for me and I couldn't think of anything positive to say about it. My problem was, it was easy to see how the trades worked on a chart after the event but I found that the cash price and the spreadbet price near the open are often so wide apart that it is hard to trade. This is not a problem with futures but I don't think a new spreadbet trader would find it easy betting large amounts of money in the volatile open, when the cash price is catching up with the futures. Perhaps this one is better but for the previous e-book, I can think of a lot of books I would prefer spending $97 on.
 
Bigbusiness said:
I just stated my opinion about buying e-books
You probably genuinely believe that that's what you did, Bigbusiness; but I'm afraid that doesn't make it true.

You did not "JUST state your opinion about buying e-books". You ALSO described this specific e-book, without having read it, as "probably worthless".

It's the sort of strongly opinionated and totally ill-informed comment that helps to give this site its reputation for excessive and heavy-handed cynicism, which is precisely what makes it so difficult to attract traders of real stature here.
 
Roberto,

Not much point in arguing with you. I would rather spend my time trading. All I can say is I have bought a few e-books in the past, I have exchanged a few and been given a few others and I have been disappointed with all of them. Perhaps my expectations are too high and I expect to be able to make the money the people selling them claim to. I have also found that several of the 'secrets' contained in these e-books have been methods I have read about and used in the past. So perhaps I am strongly opinionated and totally ill-informed but I don't intend wasting money or time on any more of them.
 
Bigbusiness said:
I have bought a few e-books in the past, I have exchanged a few and been given a few others and I have been disappointed with all of them.
I can understand that unfortunate experience colouring your perceptions a little. But I'm sure that as a successful trader you must be open-minded enough to admit the possibility that you've pre-judged the issue, so would you like me to recommend one or two really good ones to you?
 
Roberto said:
I can understand that unfortunate experience colouring your perceptions a little. But I'm sure that as a successful trader you must be open-minded enough to admit the possibility that you've pre-judged the issue, so would you like me to recommend one or two really good ones to you?

Please do but I doubt I will spend any more money on them. It is good to keep an open mind but it is also good to find what works for you and stick with it.
 
Bigbusiness said:
It is good to keep an open mind but it is also good to find what works for you and stick with it.
Well, we've certainly found a point of agreement there. :)

I always like to "have a look round" at other things as well. That was how I originally "discovered" the Joe Ross books when I was trading in a completely different way at the time; and it's how I've found other interesting things, too.

Bigbusiness said:
Please do but I doubt I will spend any more money on them.
Fair enough ... still, either of the ones below might change your mind if you ever try them ...

Apart from Chris's e-book which started the discussion off (which IMHO is really excellent value for $97 but I know I'm not going to persuade you of that!) I can recommend:-

1. "Mechanical Discretion" by "JetHeat": the author asks only $10 for this remarkable e-book. I'd almost defy anyone not to learn something from it, and it's perhaps the "best buy" from a trader and incidental author who is clearly not "in the e-book business for the money";

2. "Reversal Magic" (together with 2 other books included with it) by Michael Parsons. I bought this one after reading recommendations for it from Skimbleshanks and other people here whose views I respected; and it certainly didn't disappoint. (Sorry, I can't remember the price, certainly more than $97, but not expensive).

Both the authors mentioned mentioned above (just like Chris, mentioned even further above) are approachable, friendly, co-operative, reliably available for questions and very interested in hearing how you get on with their material.

Good luck, good reading and most important of all good trading ...
 
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