Champion Trader

BrianT

Junior member
20 0
Shinobi

Read your first edition message and can second that. If someone could give the definition of 'real trading' I would appreciate it.

We all start somwhere and I am grateful for any advice on literature or trading strategies but if you have a glance at other threads on this website there are many books recommended by a lot of members, each with their own favourite. How do you know you are investing your money in the correct book? You don't - it is a risk, just like trading.
 

mmillar

Guest
330 5
Just to chime in on CT.

To be fair the guy does say on his website that you should use 20 point stops. For people saying he uses huge stops you just haven't read it properly.

I think CT it is an EXCELLENT start for people. It's very simple to use and at £100 brilliant value. Just compare it to things like VSA or Advanced Get which (probably) do similar things but cost 000s.

For me it gave a great start on how to build a system. Start with the CT moving average and breakout system then modify/add indicators to strengthen it. Before long you have the perfect system!!! I use modified CT and CTA as part of a battery of 'systems' so that I get regular signals to trade against. Works for me.
 
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shinobi

Junior member
23 0
mmillar

My thoughts exactly! Would you be prepared to share some of the extra modifications you have made to the CT & CTA formulas in developing your own system?

Specifically, have you any any stategy for coping with the recent up/down market? How to you manage stop losses? How to you work your exits? What are the "other indicators" you use?

Would really value your contributions if you have time.
 

mmillar

Guest
330 5
I'm trying several variations - primarily because I trade the Dax and S&P rather than the FTSE. I'm experimenting with a variety of MA's, confirming with volume, using overbought/sold indicators. Afraid, I haven't perfected it. If I do I'll have one of my slave girls send you all an email from my island.

Of course, as others have said, a trend following system like CT doesn't work particularly well in this kind of market. You need other systems to provide signals - i'm using lots of failure signals at the moment which seems to be working a treat!
 

mmillar

Guest
330 5
Really people, if you are going to use a system you should at least read it properly. :( I believe the technical term is RTFM. :)

CT has stops on the FTSE of 20 points. Mr CT says stop yourself out after 20 points then get back in if the market goes back above/below your buy/sell signal. People running with 300 point stops must have lost their houses by now.
 
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shinobi

Junior member
23 0
MMillar - thanks for the info. Look forward to receiving info of your "secrets" from your desert island paradise!

Little confused about your comment re S/L though. One of the first things I did was to change from what I thought CT was saying to a S/L about 30 - 50 pts (depending on market). Just re-checked manual and page 105 definitely says use the A/L as your stop if things don't go well.

Where did you get info re using 20 pt stops and re-entering trade if it goes back in your favour - which would seem to be much more sensible. Sometimes RTFM isn't enough!

Ta
 

mmillar

Guest
330 5
On his website.

When you bought CT he sent you an ID and password to gain access to his website. I wont post it here for obvious reasons.
 

shinobi

Junior member
23 0
Blimey! And I thought I'd read the website inside out too! You're right of course - might have been useful if he'd put that piece of info in the book too! Takes away one of the big criticisms of the CT formula about wild stop losses.

Keep posting.

Shinobi

P.S. How long have you been trading for?
 

BrianT

Junior member
20 0
Still trying out new variations on CT method. Just a thought - we have all commented on current chopyness and how the formula (or any formula) struggles at times like these :( . So looking at the the last couple of weeks and the trading range it seems to me that a mini CT strategy can be applied.

Assuming (and I know we shouldn't act on this alone :rolleyes: ) that there is to be a Christmas rally then the 'high' points in recent days are testing the trend, it would follow that looking at the ftse we need to identify the next USL which could be any day. It may not make a huge profit but at least it would be consistent with the formula.

Also to you guys who have CTA - I have been backtesting again and can see good indicators using CT intra-day. I know CTA goes into this in more detail but what timespan and sma would you use for DT? Have also posted new thread to find a website which will calculate charts intra-day as market unfolds.

Will post next signal for your perusal soon.
 

osho67

Well-known member
407 3
Hi,

Would anyone be willing to explicitly explain the Champion Trader Active formula, vol 2.
On the website it claims £400 per day, is this claim justified?, Is anyone making this sort of money consistenly?

Is it strictly for intra-day trading or do you have to hold positions overnight? I'm interested in using this system/formual for the DOW, will it work when using a spreadbetting company, e.g. wide spreads and bias?

Any help or further information appreciated
 

mmillar

Guest
330 5
Just looking again there isn't actually an Id and password :eek: However, when I ordered CT I received a 'Welcome to Champion Trader' email with a web address. Just go to that and if you don't have it email them ([email protected]).
 

shinobi

Junior member
23 0
osho67

Not sure we should explain the CTA formula "explicitly" on a public board - don't think that would be fair on author (probably illegal too!). It is slightly different to basic CT formula, however, working with shorter period moving average and trying to capture beginnings of trend change.

As to profits - no I am not making £400 per day from it yet! Haven't got the capital to make that sort of return possible. I will say that the formula does offer distinct possibilities though - with some of the reservations re stops and range bound markets already mentioned above. Would recommend that you read it and make your own judgement.

Brian

If you have volume 2 there is a link to the web page on page 126 when he talks about FTSE/Dow differential.

Have you had any success applying formula intraday?
 

orchard

Active member
163 2
champion Trader

Hi all CT operators
Just a thought. I keep records of my closed and open 'paper' trades by the CT method. Today I looked at my open trades for last week and this. Some had gone from reasonably large profit to loss. Just as an experiment, I put a 5day MA on my charts as well as the 9 day I have been using. In each case I would have come out of the trade with either a larger profit or a lesser loss. I intend to go into this in some depth at a later date, but it is something to think about.
PS Happy that most of them weren't real trades!!!!.
Orchard
 
 
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