Joe Ross, Trading Educators

[fakhar]

Ross Hooks and the law of charts look very mechanical and simplistic(if not primitive) tools. Therefore, it should be fairly easy to test automatically? And automaticall I tested them. Backtesting results were not encouraging. Looks more like ...hm... randomly profitable. Perhaps, somebody modified it in a profitable way. But then - why do you need Ross? Take any random signal/indicator and modify it in a way to make profitable.

Dear Egro,
You have tested them automatically. I suggest you to backtest them manually. Computer generated backtesting results should not be trusted in any method/strategy/signal. It gives you an idea but you have to study the whole chart to produce a solid conclusion.
Fakhar

 

[egro1egro]

Dear Fakhar,

Thank you for beign polite given my rude tone on this forum now.
My view is that you cannot trust manual results because human mind is the only source of errors in this world. Computers, however do much better job. If you suspect a bug in the software you can always come up with some specific tests to reveal it clearly and if the bug is not detected in rigorous testing then you get more assurance about the quality of software.

In manual testing, however, there isn't any similar procedure. As you can see on this forum, any critisism inflicts personal attacks or strong emotions - how can one possibly fix a bug in human mind? People live with their biases forever and computers get updated very quickly.

Besides, we haven't even touched the accuracy of testing. Humans are terrible at it as well.

 

[BigDrew]

Hi,

I spend 2 days on a seminar with Joe. Some of his material and insights were extremely valuable TO ME. Other people's experience will differ. It depends on where you're at in your life. I also met a bunch of guys many of whom are long-time students of Joe and are very successful. Some of Joe's deceptively simple insights really did open my eyes to how certain elements of price action worked.

I do not trade Joe's approach exactly, but have incorporated some of his ideas into my own approach. His material and writing is very rich. Don't expect to read it once and get it. Joe has always been so honest in saying it takes about 3 years to learn to trade, and there are not necessarily any short cuts. My experience of him is that he has some valuable insights, he is totally honest, in person he is warm and a total delight and very sincere in his desire to help others attain success. He also emphasizes personal development as essential to success.

My favorite book of his is 'Trading the Ross Hook'. I read it about 5 times and some parts 10 times while working with charts until I internalized the concepts. Remember there are no short cuts to anywhere worth going and you have to do the hard yards.

There are a lot of bad teachers out there and some very good ones who actually trade and actaully care. I put Joe in the good camp. If you are prepared to do the graft you will take away some good stuff from his materials.

 

[egro1egro]

How it can be eye-opening - it eludes me. In order to see that something works you need extensive back-testing on specific data and instruments. What made your eyes open in just one or two days?

He showed you 10 years of 5-minute data, a trading algorithm and then went through the 10 years of the data applying the algorithm rigorously and at the end of the seminar you got a perfect equity curve that you subjected to statistical analysis, probably with R or at least Excel to find
1) average return
2) confidence interval for the return
3) variance and standard error estimation

Otherwise, what could possibly open your eyes?

I am sure there are plenty of religious followers to any religion no matter how bizarre the commandments or the teachings could be...

 

[astraura]

It is surprising that it works for intraday time frames also? Let me also try and share the results.

 

[egro1egro]

See my post in another thread:
Bruce Babcock about Joe Ross

 

[chilltrader]

Is this the same guy who gave a fancy name to the 1-2-3 reversal pattern?

 

[chakspin]

I read some reviews about Joe Ross in Forexpeacearmy.com and some claim he fabricated his trading experiences in order to sell his products.
I don't have any experiences with Joe Ross, but I was ready to purchase some of his products or training; now I am not.

 

[majjed2008]

thank you very much I just finish reading this book i found it here if any one interest :