Watts Trading Group

Anyone have any experience with wattstrading? I have lurked around the boards for quite sometime whilst enduring my endless learning curve and been inundated with offers of overpriced systems and snake oil. Now I'm baffled if a method at this price can possibly any good. Is it pure human nature to only assume that expensive has to be good? Being as a lot of the commercial methods discussed on here can have a price tag of up to £5000 attatched, this seems too cheap to be true. Please no lectures on hard work, we all have to start somewhere!

cranky-dan said:

Anyone have any experience with wattstrading? I have lurked around the boards for quite sometime whilst enduring my endless learning curve and been inundated with offers of overpriced systems and snake oil. Now I'm baffled if a method at this price can possibly any good. Is it pure human nature to only assume that expensive has to be good? Being as a lot of the commercial methods discussed on here can have a price tag of up to £5000 attatched, this seems too cheap to be true. Please no lectures on hard work, we all have to start somewhere!

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It's a very good method...trades with the trend on pullbacks to a moving average...quite sound and I have learned from it. (there's a little more to the method than just a retracement setup, but I'm not at liberty to give it all away)

I also like the fact that Mr. Watts (a trader who claims to successfully trade in lots of 20 contracts of the NQ) is readily available for discussion via email. He seems willing to help and provide whatever input/advice is needed.

Ben

I wonder if these boards are just here for holy grail merchants to promote their systems by testimonials. I am waiting until I make about 20 posts before posting my sales web site!

Here we go again, fair comment as I often think the same way. Try reading the iron clad super-cynic derogatory postings on Elite Trader if you want a laugh. This is a board for discussion on commercial systems remember and there are no reviews on this book anywhere, just caught my attention as it seemed to be the exact opposite of a 'holy grail merchant' I'll read it and find out for myself.

I know the system, I bought it. I really don't think you can get 14 or more pts in one trade as he gets from time to time to improve his weekly record. The standard targets are 3 pt and so are the initial stop-losses. The method seems to work better in hindsight as most of them do, which is how you probably get these 14 pts or so.

cranky-dan said:

Anyone have any experience with wattstrading? I have lurked around the boards for quite sometime whilst enduring my endless learning curve and been inundated with offers of overpriced systems and snake oil. Now I'm baffled if a method at this price can possibly any good. Is it pure human nature to only assume that expensive has to be good? Being as a lot of the commercial methods discussed on here can have a price tag of up to £5000 attatched, this seems too cheap to be true. Please no lectures on hard work, we all have to start somewhere!

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well i ordered his 2 courses and i am paper trading just the scalpin method now ,, it is simple and working,,,he also posts his wins and losses for all to see ,,, he will even return your e-mail questions ... hey what do you have to lose ,, its only 30.00 dollars ,,, im sure youve spent more than that on just lunch ,,, give it a try ,,, remember what most of the big boys say as well...
USE THE KISS METHOD ,,, KEEP IT SIMPLE STUPID ,,,,

akbash100 said:

well i ordered his 2 courses and i am paper trading just the scalpin method now ,, it is simple and working,,,he also posts his wins and losses for all to see ,,, he will even return your e-mail questions ... hey what do you have to lose ,, its only 30.00 dollars ,,, im sure youve spent more than that on just lunch ,,, give it a try ,,, remember what most of the big boys say as well...
USE THE KISS METHOD ,,, KEEP IT SIMPLE STUPID ,,,,

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The good news: I think Ryan Watts is sincere and honest and really not trying to burn anybody. The bad news: For the life of me, I can't see what he's seeing; either I'm a total dummy, or his method is far more subjective than he cares to admit.

Basically, he wants you to enter long or short positions on retracements to a 22 period Keltner channel and confirmation with his own proprietary MACD/Stochastic Momentum signals. Sounds simple right? Well, I've looked at this setup every which way to Sunday and just don't see it working very well. To prove the point that I think lots of what he is doing is subjective and based on his own perceptions, I recently downloaded some of his alleged "real time" results from another link to his website, particularly concerning the YM. I then pulled up his platform and matched his exact entry and exit points with the charts; they didn't match up with the instructions he gives for trade entry and exit in his own manual. In other words, the actual trades he posts don't resemble his actual course in any way. At least, that's what i've found.

Frankly, I would rather spend the money on a few hamburgers and a coke.
Ron

Its helped me

I don't know if this is still active or not but thought I would drop my 2-cents. I came across Ryan's system about 2-months ago when it was still $30 and he has put in countless time with me to the point where I am now almost always ending my days positive. That is a big leap for me having tried so long on my own and getting no place. At first I didn't get it and couldn't see the signals the same like the previous post but once he showed me it made sense. I was looking at the wrong time frames and it wouldn't match. The live room is a joy - I only wish I could attend more.

fwiw - I give it high marks. I trade the Russell on it.

Gloria

ladyflower said:

I don't know if this is still active or not but thought I would drop my 2-cents. I came across Ryan's system about 2-months ago when it was still $30 and he has put in countless time with me to the point where I am now almost always ending my days positive. That is a big leap for me having tried so long on my own and getting no place. At first I didn't get it and couldn't see the signals the same like the previous post but once he showed me it made sense. I was looking at the wrong time frames and it wouldn't match. The live room is a joy - I only wish I could attend more.

fwiw - I give it high marks. I trade the Russell on it.

Gloria

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Gloria: what time frames do you use? 1 minute? Would you say you are ending the day positive and keeping a journal to eliminate any bias (it's so easy to think you are making gains and then when you look at the whole picture, you see you're not that far ahead)? If yes to all of the above, good for you. I just couldn't see where his signals matched with his posted results (and I've been at it for about 3 years).

ronfalcone said:

Gloria: what time frames do you use? 1 minute? Would you say you are ending the day positive and keeping a journal to eliminate any bias (it's so easy to think you are making gains and then when you look at the whole picture, you see you're not that far ahead)? If yes to all of the above, good for you. I just couldn't see where his signals matched with his posted results (and I've been at it for about 3 years).

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I use both a 30-Tick and 150-Tick on the Russell. That is what he has worked with me on. He uses the 42-Tick and 210-Tick on the Dow mini. The book had him on a 1-minute chart of the NQ but he uses these others now I guess. The first thing they got me doing was the journal and I know it hasn't been long but I can see the improvement already. Mostly in the way I think and the way I look at the market. I am meeting my small goal most days and keeping losses small. He is always helping different people on the system so you might bring up your questions with him in there.

Nite!

Gloria

ladyflower said:

I use both a 30-Tick and 150-Tick on the Russell. That is what he has worked with me on. He uses the 42-Tick and 210-Tick on the Dow mini. The book had him on a 1-minute chart of the NQ but he uses these others now I guess. The first thing they got me doing was the journal and I know it hasn't been long but I can see the improvement already. Mostly in the way I think and the way I look at the market. I am meeting my small goal most days and keeping losses small. He is always helping different people on the system so you might bring up your questions with him in there.

Nite!

Gloria

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pardon my ignorance Gloria, but when you say 30 tick, how does that translate into minutes? My charts only have 1, 2, 3, 5 minutes etc. I would think if this system works, you should be able to use minutes no? In any case, are you still using MACD and stoch momentum with the tick?
Ron

ronfalcone said:

pardon my ignorance Gloria, but when you say 30 tick, how does that translate into minutes? My charts only have 1, 2, 3, 5 minutes etc. I would think if this system works, you should be able to use minutes no? In any case, are you still using MACD and stoch momentum with the tick?
Ron

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Hi Ron -

A Tick chart wont equal minutes exactly. It is not based on time and will adjust in speed with the speed of the market based on the number of transactions coming through. You better ask him on that for clarification but that is how I understand it. Yes, I can see the signals working on the one minute and others but you wont see the same exact signals that I do on the Tick chart nor as him I suppose and that is why we didn't align well at first. I use the MACD settings from the system but my charts don't have the other so I use a different stochastic per Ryan. I use a template from the forum.

Good trading!

Gloria

anyone tried it on forex?

watts trading

Hello Traders,

Have any of you run into a Frank Butera in Watts`s trading room, if so what do think of him.

cheers,
email

email said:

Hello Traders,

Have any of you run into a Frank Butera in Watts`s trading room, if so what do think of him.

cheers,
email

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Hi,
It might be a little awkward to reply to this post without seeming to advertise (being a member of watts' forum too), but I'll give it a shot.
I first came across Frank (like many) in the Watts chatroom. Frank's a professional day trader - I think he was trading the emini russell at the time, but he came over to the emini dow to keep consistent with both ryan watts and others, since that's the instrument they trade. I say he's professional, in that he's been a trader and nothing else for his working life.
Frank's style, meaning in the way he comes across, is very much 'no punches pulled': some (particularly new traders) found that a little awkward at first, but soon, everyone came to realise that Frank's not the kind of guy to lie to you - he just says it like it is - and, if you've been around in the trading universe long enough, you'll know how rare that can be.
Frank's trading style is what got everybody's attention. He would frequently call support/resistance/targets - even to the point of buying into a falling market - and lo! so often was he correct, that it wasn't long before he was being besieged by questions from all levels of traders.
Eventually, being so bogged down by questions, he found he was beginning to spend too much time helping others, and less time on his job - trading. Fearing that we might lose such a person in the room, many of us wanted to be 'mentored' - and Frank obliged - but again, became so besieged by requests (including from myself) that he set up his own forum (mainly out of respect for Ryan Watts whose room/forum was fast becoming a Butera forum/room), and his own (and I hate the term) 'course'.
I won't give the name of it because I don't want to be seen as advertising it, and I won't give an opinion of it either, for the same reason. What I will say is this: Frank's as straight as they come.

the seeker

Seeker,
Many thanks for your reply.
cheers,
email

ladyflower said:

Hi Ron -

A Tick chart wont equal minutes exactly. It is not based on time and will adjust in speed with the speed of the market based on the number of transactions coming through. You better ask him on that for clarification but that is how I understand it. Yes, I can see the signals working on the one minute and others but you wont see the same exact signals that I do on the Tick chart nor as him I suppose and that is why we didn't align well at first. I use the MACD settings from the system but my charts don't have the other so I use a different stochastic per Ryan. I use a template from the forum.

Good trading!

Gloria

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I just bought Watts Trading ebook one month ago.
Bad : The system is very hard to understand. (Nothing is easy in this world.)
Good : Mr. Watts will answer all your questions. And, the ebook is not expensive.

email said:

Hello Traders,

Have any of you run into a Frank Butera in Watts`s trading room, if so what do think of him.

cheers,
email

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bought his subscription a few months ago. He practices a version of market auction theory which measures volume, S&R in the context of bell curve analysis and standard deviation. When you look at a market profile chart, you're looking at volume ratios printed from top to bottom (looks almost like a DNA/aleal type of graph).

Frank seems very honest and eager to teach; he also uses market profile in the context of Watts' Keltner bands, etc. The reason I haven't stayed with it is because I simply don't have the charting software that can accomodate market profile.

Ron

Hi ron, have you considered just bite the bullet and upgrade your charting software? Just a thought.

hm i have bought the same system. it is good. but, the tricky part is that you're gonna have to dig deeper, few things that are perhaps not explained in details and have to be re-read, understood and tested (like MACD divergences, volume indicator that is only valid for futures: not forex, definition of ranging and trending market, the sma/keltner separation, etc) and i am now reading the relevant sources that Mr Ryan had included in his ebook (Chaos trading etc) to gain more perspective on how the system was initially built. He says frequently about waves 3 - 5, which is interesting but have no detailed explanation - but i suspect and am now reading more, that it has something to do with elliot wave+fractal geometry, which is an improved version/explanation on elliott wave phenomenon (older ones are subjective). Anyway, buying the system is the beginning of the journey. but it will lead you back to the beginning (with better perspective on timing) once u read and understand more

Good Luck

PS: the system does work by the way