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SystematicTrader
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I was referring to charting, not order platform. For backtesting any strategy, you need to use the continuous contract, not just the front month, if you want to get a good look at the strategy in depth.
As far as brokers are concerned, I use GlobalFutures and Strategy Runner. I have no problem placing orders on rollover day - the contract changes automatically.
I use TradeStation for charting and will try to code the strategy in EasyLanguage. The symbol in TradeStation is @ES or @ES.D for the continuous contract.
you are correct, if you used 5 points you would have been stopped. I used a 6 point stop due to volatility. I have received i few emails concerning this trade and I will correct the record on the website. Usually during highly volatile times we give it 6. We do refer to 6 pts in the course.
momentintime
Junior member
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Wow, if it does not work out with 5 points stop, move to 6. How about move it to 7 points stop next time? As long as it works out......same old story...
that is not true. The course does have the stop loss listed. Did you purchase the course? and if so you can email me and i will be more then happy to explain if you have any questions pertaining to the stops.
JP..your system is better than most will find and you are more honest than most will find. Here is my problem with the comments above. Not a biggie, just a concern. The caveat is the term "volatility". How does one determine volatility status? Also, the risk/reward tends to get even more to the scary side...A couple of 6 point losses back to back can dig the hole I don't like to be in. Going too far opposite direction with stops too short can lead to death by a thousand cuts..I have died like that too many times to think about.I like your system ...no doubt about that ....I would say with the high % system you have, moving the stop does what you say it does for the trader. Until proven otherwise......... JMHO
momentintime
Junior member
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Your performance on Your site shows You using 5 points on stop loss. You know where I am going with it....adjust the hell out of it to, 6, 7, 8 points in hindsight...same old story....been there before.....have you ever posted 6 points stop loss in your performance?
3/5/2009 AT THE OPEN TRADE 10:15 AM LONG LOSS 5Pts ($2,500) ($5,000)
I understand your concern. but in all fairness If you have not purchased the course, as others have and shared their results here in this forum and you can see that no-one shares this opinion as a concern. JUST YOU. The course does outline the stops. and I will ad this trade in this case, out of the 100 trades i have listed as a stop even though the course states a 6 Point stop. I must also say that most if not all your posts are attacks on the method and the course. Is there something you would like to comment on other than your negative remarks? You haven't learned the method or purchased the course. Is there another reason why are posting on this thread?
momentintime
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There is only one reason I am posting on this thread: I have been there before - studying, researching different vendors and their techniques...and when I see hindsight adjustmentes on the fly.....I feel that it is my duties, as someone who did found an edge (+5 points on esm9 today so far) ...I am trying to save some hard earned money for some of the beginners.....however, nothing personal...it is just about your system....
momentintime...wasting your time but always your option. I spent years on ET zoo trying to help newbies avoid losses as I had incurred too many times. Again, waste of your time, as no one will listen to your warnings, whether correct or incorrect, does not matter. I have as near the perfect system that works on every market anytime as can be possibly created. Yet, the ones who have seen it pervert it, deny it, twist it, and attempt to debunk it, rather than use it. Those are my family members who like all others, must be the smarter one. Nothing changes in this business. If one sees value in your stuff they will run with it and forget you gave it to them, and change it just enough to claim it as their discovery. You will be the dummy, they the hero. Trust me, those you help will bite you, 99%.
momentintime
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Wow Wow Wow...take it ez...that 99% statistic is very familiar to me(unfortunately) - you can not change people.....I am just having a good day and wanted to give a bit of wisdom back...
AHH I understand now. You have an "Edge", you have a 5 point winning system, and you only post negative comments on a forum dedicated for traders who want to share experiences with Daytradetowin? Your true colors are now showing.
rgsharp
Active member
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The point is John Paul that this is a forum to discuss your system, good and bad parts. There is absolutely no requirement that people should purchase the system before they are entitled to comment. Also, you constantly remark about negative comments from contributors, so what! that is their right or do you only agree with good comments.
With regards to the trade failing at 5 or 6 points; this is a case of credibility and continuity. All the videos I have viewed, performance records and previous posts on this board have been about 5 point stops; in fact this is an earlier post on this board and your reply
(Quote:
Originally Posted by dv007
Let me ask you - do you think a 5 point stop with targets of +2 and +4 is a good risk/reward for newbies? Or for anyone?
The problem is volatility. No one likes large stops, but this is part of the game. The rules in the course explain that you must tighten stops after price goes into positive territory. If we could trade profitably with 1 point stops, beleive me everyone would be much happier. The reality is the price fluctuates and after being stopped out with tight stops only to see the trade reverse and go back into positive territory only leads me to believe that having tight stops will not work. i much rather be stopped out once with a larger stop which gives me the opportunity for the trade to work out in these volatile times, then being stopped out nearly all the time with 1 or 2 pt stops. Remember we only trade once or twice a day and stop.
This was an ideal opportunity to correct the level at which the stop should be set to 6 points, but you didn't !!
Why do these forums exsist? Because people have and do get scammed. The reason I first started posting on this site was because of my experience with "xpertrader". The Vendor was eventually prosecuted by the Police Dept. Fraud Squad and subsequently found guilty of fraud in the Crown Court. Now, I don't think that you are doing this, but people have to satisfy their self, as I said before: credibility and continuity.
Prospective customers rely on (amongst other things) gut feeling, forums, the accuracy of performance history, video presentations and ultimately a trial of the system/signals.
Just for the record, I don't have a hidden agenda, I am not a Vendor, I don't have a system I want to shout about and I don't post with a handle/nick name. Nothing to hide and make no apologies for being careful with my money.
I have received e-mails from clients about this trade, and i have answered each and everyone of them. It says to use 6 points in the course. If some clients used 5 points then i have said i will correct the performance. I took the trade, and i used 6 points.
That's a live trade. Momentumguy chimes in to bash. How is that helping anyone? its not. I have explained many concepts in this forum, Volatility, stops, profits, News, trading during the holidays, and trades that I've explained and so on. therefore i have added POSITIVE advice to help traders. This is what traders are here for - to Learn. In my opinion if you want to post something, do it respectfully. Criticism is fine, but not knowing what's in the course and then making sarcastic remarks, i think that is uncalled for. No-one is here for that. is that how you mean monentumguy needs to satisfies himself?
The second trade was a winner on the June contract. It missed getting stopped out by 1 tick. Most people don't start trading June until Thursday though.
Rule of thumb to switch over to the new Contract
One great rule to remember is to switch over to the new contract on the 2nd Thursday or 2nd Friday or the expiring contract month. I usually look at which market to trade by the liquidity. I trade the contract that is more liquid on that 2nd Thursday or Friday. Seems to work well.
One great rule to remember is to switch over to the new contract on the 2nd Thursday or 2nd Friday or the expiring contract month. I usually look at which market to trade by the liquidity. I trade the contract that is more liquid on that 2nd Thursday or Friday. Seems to work well.
Of course there are systems out there with tight stops and high accuracy...mine employs tick charts which is not a can of worms we need to open here..stops so tight you can hear them squeak....only problem is, it takes a lot of work to find the correct answer..by tight I mean 2 point stops on ES and NQ...15 on YM....MAX...INTRADAY ONLY. .most are not willing to work that long, much less that hard. They wish for others to work for them. By the way, if a system uses loose stops, higher than normal accuracy would be sweet. JP's system requires a loose stop because he enters against the realtime price movement most of time. That is fine, just must allow for move to stop, and turn in the trade direction. Nothing wrong with that at all, just loose stop required...He did not create this system overnight...based on much time and testing.
Momentintime. I was only pointing out my same feelings of sympathy for newbie vulnerable traders, especially the honest ones. I hate to see them lose their money. The greedy ones deserve it. No offense intended whatsoever...george
Momentintime. I was only pointing out my same feelings of sympathy for newbie vulnerable traders, especially the honest ones. I hate to see them lose their money. The greedy ones deserve it. No offense intended whatsoever...george
rgsharp
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No, it is not uncalled for. The only way a decision to purchase a course can be made is by due diligence. Eg. How accurate is your performance history? Go back over and change stops to 6 points and adjust winning trades that would have been losers with a 6 point stop and the performance (ie profit) goes down considerably. Of course, you have a vested interest in insisting that people buy a system to find out if it is profitable.
Also, if folks read back through this log they will see that you are very skilled at only answering certain points or questions. eg. Why do you not answer the query I made about 6 points never coming up before? "it's in the course and you are being negative/sarcastic" just doesn't cut it IMHO.
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