Steve Primo's Pet-D

[ghp3]

Has anyone bought and used this Pet-D strategy. It usually comes in an email from, protraderstrategies.com. If you have tried this for any lenght of time, I would like to hear from you. Thanks.

 

[chamane]

Has anyone bought and used this Pet-D strategy. It usually comes in an email from, protraderstrategies.com. If you have tried this for any lenght of time, I would like to hear from you. Thanks.

I'm a bit late, but I wanted let know that the the PET-D indicator is roughly similar to a 8 EMA. I haven't used it but I intend to do so as I am studying many of Steve Primo's strategies.:smart:

 

[davidwebbthegreat]

Hi new to trading does it matter which time frame to use?
Cheers

 

[alexaherself]

I wanted let know that the the PET-D indicator is roughly similar to a 8 EMA.

"Roughly" would be the operative word, there.

It's basically a single-indicator combination of a simple moving average (of longer periodicity than 8) with a stochastic based on how far from bars' median points their closes are.

It's the kind of indicator that you'll be interested in, if you're interested in that kind of indicator.

 

[chamane]

"Roughly" would be the operative word, there.

It's basically a single-indicator combination of a simple moving average (of longer periodicity than 8) with a stochastic based on how far from bars' median points their closes are.

It's the kind of indicator that you'll be interested in, if you're interested in that kind of indicator.

You seem to know much better than I do. I have a version of the indicator, but I am not able to confirm your statement about it. I found it on this site:
http://www.forexstrategiesresources.com/scalping-system-iv/452-pet-d-scalping-system/

Chamane

 

[alexaherself]

I know the site. There's an enormous amount of "stuff" there, but none of it is vouched-for/verified, and much of it has just been "sent in by readers". It's very much caveat emptor, there.

 

[Lightning McQueen]

I have to say I do like steve premo's presentation style. although his youtube videos are chock full of sales pitch, going to happen with a vendor obviously. nonetheless interesting content and worth a watch. although i'd not been drawn to the pet d vid until reading this thread.

the pet is bar colouring based on momentum, if I understand it correctly from their description? though I guess it could just be directly based from a ma, it just doesn't look that way in examples I've seen. I believe it's based off a momentum oscillator, eg when the oscillator reads above zero it paints the bars green, when below zero it paints the bars red. not looked at it directly, so could be wrong.

 

[chamane]

I know the site. There's an enormous amount of "stuff" there, but none of it is vouched-for/verified, and much of it has just been "sent in by readers". It's very much caveat emptor, there.

True. I personally backtest any system before trading with it, wich is more relevant if they come from those sites.

 

[davidwebbthegreat]

Please don't but any stratagey I'm sure it will end in tears

 

[Lightning McQueen]

Please don't but any stratagey I'm sure it will end in tears

yes quite possibly so.

after all, the mechanics of the pet d is likely only price crossing a moving average for the grand cost of $2.5k , though you do get a bolt on strategy lumped in for that price in their special offers I see. so that's ok then :whistling

but trading with momentum and into a trend isn't a bad thing surely? does that not inspire further study?

 

[tomorton]

Watching some Steve Primo Youtube clips recently and found his Strategy #4 -

buy if price closes in top 25% of day's range and is above 50SMA: short if price closes in bottom 25% of day's range and is below 50SMA.

Yes, I know these sorts of things should have a red flag and hazard warning tape attached but I can't resist. And anyway, its made a lot of money for me.

 

[alexaherself]

its made a lot of money for me.

Coming from you, that's an interesting observation, for a start, Tom. Thanks for mentioning it, here.

I've never heard of it, but I used to play around, a long time ago, with an old method of my father's called the "30/60 strategy" which involved a long trade if the bar closed within the top 30% of its range and above the EMA-60, and vice-versa for short trades. Sounds pretty similar, really. I wasn't using daily bars, though. Perhaps I should look at this again.

Does he say anything interesting about TP's and SL's, for this idea? (Related to the ATR, I suppose?). I'll have a look on Youtube, anyway.

I know these sorts of things should have a red flag and hazard warning tape attached

Yes, I hear you ... but there are probably a lot of worse sources for this kind of thing than Steve Primo, anyway ...

 

[tomorton]

Coming from you, that's an interesting observation, for a start, Tom. Thanks for mentioning it, here.

I've never heard of it, but I used to play around, a long time ago, with an old method of my father's called the "30/60 strategy" which involved a long trade if the bar closed within the top 30% of its range and above the EMA-60, and vice-versa for short trades. Sounds pretty similar, really. I wasn't using daily bars, though. Perhaps I should look at this again.

Does he say anything interesting about TP's and SL's, for this idea? (Related to the ATR, I suppose?). I'll have a look on Youtube, anyway.



Yes, I hear you ... but there are probably a lot of worse sources for this kind of thing than Steve Primo, anyway ...

Cheers for that. He goes so far as to admit this isn't a complete strategy, agreed, but its an interesting starting point. Also echoes the 80-20 by Connors & Raschke in Street Smarts, and they in turn acknowledge the Taylor Trading Technique which I think you know more about than me.

For EOD traders without screen access due to a full-time job or suchlike, this sort of thing can be a useful tool. As for a holy Grail, probably not.