chris kobewka, 60minute trader etc.

, How about simply posting snapshots of the daily trade on both YM and DJIA charts? Surely this would help new traders and clarify any differences which are inevitable, what possible reason would there be not to do this,
Click to expand...

There is no need to post both as I have shown the moves are very similar and slightly greater on the YM if anything.

I like to get the daily trade posted as soon as possible and it is just easy to post the cash charts. My futures charts are on my trading computer and it is a pain and time consuming to transfer them. I do make other trades throughout the day.

Everyone can see the same thing on Bigcharts which are free. Also if I am away I do not always have access to Sierracharts and do not think posting different charts on different days a good idea.
 
Ozzie
Stevespray
Chris, My question would be this.....We need to be sure which set of rules we are following. A hard stop of 17 (which is indicated in the ebook) is not subjective in any way yet you are now saying that the 'hard stop' isnt really a hard stop. If you dont get a fill at the exact base/top of the initial move then your risk is always going to exceed 17. What can we do about this?
Click to expand...

Thankyou for pointing that out, you are both correct. One thing that was not mentioned was that because of the wider spread via spreadbetting the stop would have definately been triggered unless it was stated that the market had to reach it.

The problem with having a stop from "your entry" is that because of quicker/slower reactions, bad fill etc. your entry could be a couple of points different to mine.

If we say that the stop is set from the high/low point of the reversal then we have a definate stop with no ifs or buts.
Let me know what you think and I will make it clear in the book.

I like feedback as it can be quite constructive and often can help others to make a profit putting suggestions forward that I may my not have thought of.

I will look at posting futures but I will need another laptop, only have Windows ME on this one and need XP for some applications.
 
If we say that the stop is set from the high/low point of the reversal then we have a definate stop with no ifs or buts.
Let me know what you think and I will make it clear in the book.
Click to expand...

Chris,

I am probably being thick ...... I'm not entirely sure what you mean here. Could you post a chart to show what you are suggesting? (Friday's would be a good one, as that is what we have been discussing). Thanks.
 
Chris - It's always going to be hard for people to gain entries at the exact turning point with out pre-empting your indicators. Because of this the stop is always going to exceed 17. An example would be yesterdays trade. On your chart you have the entry shown at the tip of the peak. In reality I can see that your indicators wouldnt have shown a reversal until the reversal was underway yet your sell is still right at the peak! I cant say too much more without revealing system info but I hope that you can understand what I'm getting at.

Steve.
 
So, it sounds like...

Chris,

So, it sounds like you're saying:

1) The book is incorrect in saying your stop is 17 points from the entry, but, instead should be 17 points from the high/low that triggers the entry (I have no problem with the fact that it makes your stop something slightly variable)

2) You're trading the YM when the DJIA chart gives the signal

Could you correct or clarify those points? Thanks.
 
Afternoon Chris….

Okay, feel free to call me ‘thick-o-numbskull’ if I'm missing something here but the harder I try to understand this system the more mystified I become.

From your website regarding yesterday’s trade (2/06).

“June 02/05 – Trading finished 11 mins into the session, time in trade 7 mins max”

Obviously you don’t need to be a mathematics genius to work out that if trading finished at 9.41am and you were in the trade for 7 mins then you must have entered the trade at 9.34am.

Okay – Over to the charts….

Lets look at 9.34am. This is where my problems start!

I can not see the reason why you took a long at 9.34am. On your chart you have a buy on DJIA indicated at about 10,514. I have compared both YM and DJIA. On the YM two of your indicators say “don’t trade” whilst the DJIA chart doesn’t signal a buy until at least 4 minutes later by which time the price is several points higher.

Can you please explain how and why you took the trade at 9.34am?

Many thanks,
Steve.
 
Last edited:
PS - Just followed the basic trading rules to the letter and took 10 points on YM.

Steve.
 
Stevespray,

I have exactly the same problem with yesterday's trade - I didn't get an entry until 1438 - the charts show the main indicator rising on both YM and DJIA until then. By that stage the maximum to be gleaned was 5pts, but it would have been necessary to be quick to get out to achieve that many.

Chris - what are we missing here?
 
stevespray said:
PS - Just followed the basic trading rules to the letter and took 10 points on YM.

Steve.
Click to expand...
Hi Steve,

How have you taken 10 points when your post is labelled at 13:47 and the system is enabled untill 14:30?

A genuine question not trying to be funny.

I too have queried some of the results.

JonnyT
 
JonnyT said:
Hi Steve,

How have you taken 10 points when your post is labelled at 13:47 and the system is enabled untill 14:30?
Click to expand...

Because T2W are still on GMT when the rest of us are on BST.

No offence taken.

How's it going by the way? We havent spoken for a good while.

Steve.
 
So we seem to have lost the momentum of investigating the reality behind 60MT...

It seems that it's not as unambiguous as the ad says, there seem to be some questions about the methodology... Chris responded to some of this, but it's been a bit quiet for the last few days.

I'm hoping to hear more that clarifies whether and how someone can reproduce the results posted on the 60MT site.
 
I had an email from Chris - He said he was away over the weekend and would be back Monday. I've written to him with a number of questions which I hope he's going to be able to answer.

I've just had a look at Friday's trade on the website - it's a tad different to my trade but the overall outcome seems similar (ie I made the stated number of points). The chart on the website shows a buy right at the low - under Chris's system this appears more or less impossible.

Lets just work through the problems slowly and see if we can sort this out.

Steve.
 
Steve,

Could you post the url of Chris's website. I too bought a copy of 60Mt and although I found there to be some merit in the method, I could not duplicate the trades which I received by email as examples. I complained that the charts used were too small and spidery to see the timing or the method in action, but the charts remained the same.

Cheers

Chris
 
I've just been checking through the archive of some of the results and am a bit confused. The book says to use a 6 minute stop loss yet most of the trades are over 6 minutes and some are over 20 minutes.
 
I think the book has stated that the 6 minute rule is optional. Chris has said that he does not use the 6 minute rule on the opening trade.

Steve.
 
Any other changes from the book other than:

Don't use the 6 min rule for the opening trade.
17 point stop from the EXTREME high/low

?
 
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