Anybody using Trendcatch to trade S&P ?
- Thread starter eministrader
- Start date
Sorry, that's correct.
In reference to your question I would avoid the software.
What's your market experience to date?
Were you an investor/position/swing trader?
What instruments do/did you buy/sell/trade?
Equities/Futures/Options/Bonds/Commodities
If you're fairly new I would invest my time mostly in observation of the instrument I wish to trade.
Secondly, my first expense would be for good clean data(data feed).
Just looking for a shortcut in day trading. If the software is profitable it would seem the author would have no need to offer it to the public.
I am finishing my third month of day trading the es. My paper trades the last few days yielded about $750 gains a day, with around 10 round trips. I'm using moving average crossovers and pivot R and S levels. I subscribe to a live trading room that costs me $250 a month.
I also trade us stocks more as swing/investor trader.
My data/trading is through Transact and IB as a backup.
I am finishing my third month of day trading the es. My paper trades the last few days yielded about $750 gains a day, with around 10 round trips. I'm using moving average crossovers and pivot R and S levels. I subscribe to a live trading room that costs me $250 a month.
I also trade us stocks more as swing/investor trader.
My data/trading is through Transact and IB as a backup.
Well magnitude that's good I wish you the best and just watch your expenses.
I have been investing for years and made the transition to position/swing over the past few years. Trading intraday was difficult for me at first because I was mixing my timeframes and kept reverting back to "investing" timeframes while trying to extract a profit intraday. My timing was all wrong.
I've never used a "service" but lost alot of time trying things that I read in trading books and magazines.
The real change came when I got mad at myself for once again losing a chunk of my trading capital. Never any thing big mind you, just slow bleeding.
I started from scratch and built from there. If I had it all to do over again it would be a good feed and a stable no frills software package. Nothing else. Spend all my time watching, taking notes and anticipating. Start trading 1 contract and only react to the conditions, no forecasting. Employ strict rules that are never to be broken and protect my capital.
Hope you succeed, I think you will if you remember that there is no shortcut.
What month did you try it ??? Was it just the 5 day period or longer....I am interested to go back and look at the charts.
Oh and by the way I am not spamming this site as was suggested....and I'm not promoting Trendcatch.....I've looked all over the net for any sort of user group on Trendcatch and there is nothing....came and joined here to get some feedback from people using it as a last resort and the fact that I only recieve negative comment leads me to believe it not worth persuing. Ive had great paper results recently but looking at earlier charts its results range from great to disgusting....just thought somebody could have got some consistency out of using it but I guess not.
I tried TC back in January and was weary from the start. they give four options (from what I recall) from momentum to basically aggressive settings (scalp) and I paper traded it for two days and found that it lost more money than if I would have closed my eyes and clicked on buy or sell!
for fun i checked it out...there's nothing overtly bogus about it, imho, so long as you use proper money management. but it's no magic ticket, either. fact is, you can create your own "trendcatch" with the usual stuff from the TA toolbox without too much trouble, and save yourself whatever it is they're charging.