Dynamic Trader methodology (Robert Miner)

[cunparis]

I just finished his book and was all fired up and then I brought up a chart of ES and I can't find the wave counts and all that. It seem so easy in hindsight but in the middle of the trend it's very difficult. This is my only reservation for this approach. Anyone has had the same feeling?

I looked at the sample newsletter, there are setups in it that weren't discussed in the book so it seems one needs to do the course.

Overall I read the book cause I was curious. I already trade other methods so I don't think I want to investigate all the effort required. I mainly read just to see if I can pick up an idea or two and that I certainly did. Unfortunately the elliot wave stuff seems to require a lot of practice.

 

[smalldog3]

I use to be a fan of Miner until I realised that his course is based on false information and the idea of 5 wave structures. He must do a lot of drugs as he manages to fit 5 wave counts onto 7, 9, 11 wave structures. Fine after the fact totally useless in real trading.

His time projections are based on fib time ratios that sometimes work. All in all its a complicated load of horse ****. I doubt he makes any money trading and I think his trade entry system is not the best way to make money in the markets.

Elliot wave, are the foundation of his course and they are truly not the way markets move, Minor, Pesavento, another loser who claims to have developed a system of analysis that works are total frauds. Quite simply they have you going up against established trends looking for reversals when in fact you should be looking to go with the trend not against it.

None of these jokers can prove they make money trading and Minors only claim to fame is he came first in a trading contest once. Avoid like a plague if you want to make money trading.

 

[cunparis]

None of these jokers can prove they make money trading and Minors only claim to fame is he came first in a trading contest once. Avoid like a plague if you want to make money trading.

Your experience with Miner is the same as mine. The only thing I took away from it is that a lot of people use fibs and sometimes you'll find a bunch of fib traders entering at a fib level. It's helpful to know that when I'm looking for a trade or if i'm in a trade, but I don't base my trades on fib levels.

The rest was no useful IMHO.

 

[winterbee]

I use to be a fan of Miner until I realised that his course is based on false information and the idea of 5 wave structures. He must do a lot of drugs as he manages to fit 5 wave counts onto 7, 9, 11 wave structures. Fine after the fact totally useless in real trading.

His time projections are based on fib time ratios that sometimes work. All in all its a complicated load of horse ****. I doubt he makes any money trading and I think his trade entry system is not the best way to make money in the markets.

Elliot wave, are the foundation of his course and they are truly not the way markets move, Minor, Pesavento, another loser who claims to have developed a system of analysis that works are total frauds. Quite simply they have you going up against established trends looking for reversals when in fact you should be looking to go with the trend not against it.

None of these jokers can prove they make money trading and Minors only claim to fame is he came first in a trading contest once. Avoid like a plague if you want to make money trading.

One thing people should know is there's a difference between (1) Miner's trading methods (2) his prognostications and (3) his trading software.

He's not interested in complex wave counts, since they may not mean anything/ may just be a brain's attempt to see order in noise. Since I probably won't be around when the Grand Supercycle completes, I'll have to content myself with taking a somewhat shorter-term view.

His software, which I've been using since v3.0, is excellent, but is no more than a very complete toolkit for you to adapt to your own way of trading Fibs/ waves (or Gann, which is also there if you want it). It's fantastically configurable, too. I therefore often disagree with Miner's forecasts - although in fairness to him, he always makes it clear that a trader should only ever deal in probablilities. Markets are there to make fools of us all.

Trend following is just one way of trading, so the fact that Miner recommends swing trades doesn't make him a fraud. On the contrary, having done a seminar with him and having met him, I'd say he's one of the few trading gurus who impressed me with his integrity. Yes, he's often wrong - but so am I.

Be your own guru, folks - the Bob Miners of the world are only there to help you, not marry you.

(BTW, option traders out there - Dynamic Trader's price and time rhythm zone projections are killerz. "The London Strangler").

 

[juniorh]

I use some of his material in conjunction with market profile. The best thing I took away from the book was the necessity to trade at least 2 portions(e.g. lots, contracts etc) of whatever you trade.

 

[juniorh]

I use some of his material in conjunction with market profile. The best thing I took away from the book was the necessity to trade at least 2 portions(e.g. lots, contracts etc) of whatever you trade and scale out. Kam in the learn 2 stock trade (l2st.co.uk) and itradepod guys emphasised this a lot to me too and it turned my trading around.

 

[ComOption]

Re-read Robert Miner's book again, wonder how the owners of the Dynamic Traders' Software doing after all these years....

 

[goodtyneguy]

I recently read Miner's book High Probability Trading Strategies and was hoping to try out his trading methodology in my spread betting account using IT-Finances' advanced charts on the daily TF. The charting package provides enough drawing and annotation tools to facilitate the location of the confluence zones for reversals once a near five wave impulsive or a near three wave corrective structure has been identified. I've been scanning using the screening tool for overbought/oversold conditions using extreme RSI and Stochs readings on a variety of financial instruments but can find few potential set ups. If I can prove to myself that his methodology works then I shall have no hesitation in investing in his software but for the moment it's a bit of a chicken and egg situation for me.

 

[mijnnaamisgerrit]

Fibonacci Queen

Fibonacci Queen is a student of Miner,
she symplified Miners system.
Bye,
Gerrit

browser,


Thanks for your thoughts. I'm glad to know that it can be made to work! How long did it take you to become comfortable with using it as a methodology?

Did you alter the approach much beyond the introduction of the volume element? I trade the forex markets, which does not have any volume data as such. Could you explain what information the volume gives you in your trade setups and management, to see if it might be possible to substitute it somehow within the forex markets?

You are also correct in the lack of guidance provided in the book concerning money management. Anyone looking to use this or any other methodology would do well to research their own approach to how to handle this vital aspect. For myself, I use a fixed ratio method which I previously discussed in this thread.

browser, do you follow Miner's recommendation to trade 2 lots with trend reversal trades, one lot of which is a short term trade (with a target of where the move is only a correction), with the other having a target in line with the projected end of wave?

Do you trail your trades with the 1 or 3 Day High/Low as described in the book, or do you use another method for trailing stops? I am looking to use Chandelier Stops, but since these are not part of the Dynamic Trading software package, I am going to include them as part of my own data downloader tool.

I also would have to agree that the ability to identify the condition that will invalidate the current trade setup/market call is incredibly valuable, and I too have wondered as its abscene from some of the market reports that I have read.

For the trend reversal (reversal day, etc.) and trend continuation (gann pullback, etc.) setups, have you just stuck with those ones described in the book or have you found any others to be of use?