Quote from MandelbrotSet:
Yeah, thanks for your one post "illuminating information".
LOL, the more things change ....
Yeah, JJ, I thought the same thing.....but he/she did register a year ago, so it's not a slam dunk that it's a spam post.
eminidaytrader.com - anyone ever use it?
- Thread starter sandygray66
- Start date
Yeah, JJ, I thought the same thing.....but he/she did register a year ago, so it's not a slam dunk that it's a spam post.
I look forward to hearing about your experience.
He's a millionaire already, won't be coming back to ET to spam.
Hi guys,
I apologize for the delay - just got back from vacation and should've submitted feed back before I left.
I had the demo with Justin who is the co-owner. Basically he was not able to show me any realtime trades since the S&P did not do anything during that time but describede the system using a realtime chart and the software used to generate buy/sell signals.
it's $1500 for tutorial manuals and $250 every month thereafter for subscription to their market profile support/resistance areas that they email every night along with commentary.
I did get a feeling that he was being honest about everything but felt that the system wasn't robust enough based on their performance record alone and I didn't notice a vast difference between his support/resistance areas and the ones that I draw up just by eyeing the charts for myself nightly for the next day. I like the market profile concepts of volume statistics at various price levels, it's what I'm looking for in my trading. I like their money mgt techniques too, they'll take profits at 3 levels: first profit level is taken and if the trade goes against them totally with a stop out, they'll break even on the trade. The 2nd profit taking is at about 6-8ticks where they lock in profit and move stp to b/e. Third is to let the last contract run. The inital stp placement is at 6 ticks behind the entry.
But the real meat of the system is the market profiling software that generates a chart of market generated Time/Sales data on volume stats at each price level for each day and where each day is broken down by 30-minute periods where each period is represented by the alphabet (A-N) with each letter profiled with volume at price by graphs showing where the most and least volume has occurred and at what price. Whith this info the software allows them them to merge several days into one generating support/resistance lines that seemed very accurate, to the tick almost on most turns of the market. But I just saw one days worth. The software does alot more i'd imagine but didn't go into it.
With this profiling package they have their own software package, I believe they wrote it themselve, it hones in on this volume generated data and reacts to several weeks worth of it. From this their system generates b/s signals where "value areas" occur that happens to be near the supp/res lines generated by market profiling info they give to you the previous night. Value areas, are areas where the system detected the most volume occurring at a particular price over a period of time. From this info the trader is given the signal to enter the market once the trader determines that price is accepted or rejected at that price level.
I was told that there's about several weeks of training to go through to grasp and know different chart components and profiling concepts. their software works with esignal or TS. The market profiling software is from Ninja I believe and they are working with them for some kind of deal. Overall it wasn't much of a demo against the live market but more of a short presentation.
I do feel that there honest and believe that it works, but there was nothing there that would make me feel that anything would compliment my trading every day. So I've held off on purchasing their system for now. I trade off supp/res lines and am looking for an app that would reveal the underlying sentiment of those areas and did not feel that it would give me enough, I just wasn't convinced enough that it would be a good education on something that I need in my trading at this time.
I've just started a week trial with IOAMT (institute of auction market theory) which gives you access to all the things that a regular user will get and will give you guys the low down on that as well.
I'm sorry for not getting back sooner and hope that I was able to give the right info. If there's any question let me know and I'll get back to you guys.
I apologize for the delay - just got back from vacation and should've submitted feed back before I left.
I had the demo with Justin who is the co-owner. Basically he was not able to show me any realtime trades since the S&P did not do anything during that time but describede the system using a realtime chart and the software used to generate buy/sell signals.
it's $1500 for tutorial manuals and $250 every month thereafter for subscription to their market profile support/resistance areas that they email every night along with commentary.
I did get a feeling that he was being honest about everything but felt that the system wasn't robust enough based on their performance record alone and I didn't notice a vast difference between his support/resistance areas and the ones that I draw up just by eyeing the charts for myself nightly for the next day. I like the market profile concepts of volume statistics at various price levels, it's what I'm looking for in my trading. I like their money mgt techniques too, they'll take profits at 3 levels: first profit level is taken and if the trade goes against them totally with a stop out, they'll break even on the trade. The 2nd profit taking is at about 6-8ticks where they lock in profit and move stp to b/e. Third is to let the last contract run. The inital stp placement is at 6 ticks behind the entry.
But the real meat of the system is the market profiling software that generates a chart of market generated Time/Sales data on volume stats at each price level for each day and where each day is broken down by 30-minute periods where each period is represented by the alphabet (A-N) with each letter profiled with volume at price by graphs showing where the most and least volume has occurred and at what price. Whith this info the software allows them them to merge several days into one generating support/resistance lines that seemed very accurate, to the tick almost on most turns of the market. But I just saw one days worth. The software does alot more i'd imagine but didn't go into it.
With this profiling package they have their own software package, I believe they wrote it themselve, it hones in on this volume generated data and reacts to several weeks worth of it. From this their system generates b/s signals where "value areas" occur that happens to be near the supp/res lines generated by market profiling info they give to you the previous night. Value areas, are areas where the system detected the most volume occurring at a particular price over a period of time. From this info the trader is given the signal to enter the market once the trader determines that price is accepted or rejected at that price level.
I was told that there's about several weeks of training to go through to grasp and know different chart components and profiling concepts. their software works with esignal or TS. The market profiling software is from Ninja I believe and they are working with them for some kind of deal. Overall it wasn't much of a demo against the live market but more of a short presentation.
I do feel that there honest and believe that it works, but there was nothing there that would make me feel that anything would compliment my trading every day. So I've held off on purchasing their system for now. I trade off supp/res lines and am looking for an app that would reveal the underlying sentiment of those areas and did not feel that it would give me enough, I just wasn't convinced enough that it would be a good education on something that I need in my trading at this time.
I've just started a week trial with IOAMT (institute of auction market theory) which gives you access to all the things that a regular user will get and will give you guys the low down on that as well.
I'm sorry for not getting back sooner and hope that I was able to give the right info. If there's any question let me know and I'll get back to you guys.
Hi All, I have been simulating trades using the eminidaytrader.com strategy using paint bars and squats. I have been doing it for a little over 2 months and will continue to do so everyday for the next 2 months or so.
Analysis so far:
I somehow find that their trading methodology is subjective. I see that i take all trades that they do but somehow they seem to miss some trades that should be taken and are usually loosers. I am not pointing fingers but i will be honest after listening to their videos everyday I am not convinced. My brother is an investment banker and some of the trades that are shown filled can practically not be filled where they show them; especially the limit orders. The ironic thing is that over the past 2 months i have not been filled on any limit orders unless the market moves against me by a tick, apparently they are always filled on 1st attempt...kind of hard to digest...
Again as i said i am not pointing fingers or not suggesting that it is a scam but so far from my testing I am not convinced at all.
By the way just to let you know i did subscribe to them and pay all fees. I am going to do this for a little while longer to see if it makes sense to do this...If i change my mind about them i will post in the near future...
Analysis so far:
I somehow find that their trading methodology is subjective. I see that i take all trades that they do but somehow they seem to miss some trades that should be taken and are usually loosers. I am not pointing fingers but i will be honest after listening to their videos everyday I am not convinced. My brother is an investment banker and some of the trades that are shown filled can practically not be filled where they show them; especially the limit orders. The ironic thing is that over the past 2 months i have not been filled on any limit orders unless the market moves against me by a tick, apparently they are always filled on 1st attempt...kind of hard to digest...
Again as i said i am not pointing fingers or not suggesting that it is a scam but so far from my testing I am not convinced at all.
By the way just to let you know i did subscribe to them and pay all fees. I am going to do this for a little while longer to see if it makes sense to do this...If i change my mind about them i will post in the near future...
Dear All, by the way dont go by the results that you see posted on the site, they are not as accurate as you think. I know this for sure becuase i trade their system everyday. I am not concerned about winning trades, but when loosing trades are missed out on the results...then you know we have a problem.
Again, i would not go by the results that are posted on their website.
Again, i would not go by the results that are posted on their website.
Also, if anyone else has been doing this practically like i have, please let me have your opinion as well...
Thanks, Krupsehd.
I appreciate the evaluation. I've been trading on my own and have not tried any trials. But I did join Balancetrader.com today - for the buck it seemed worth while especially for the tutorials about and how Frank Butera trades within the context of Market Profiling.
I appreciate the evaluation. I've been trading on my own and have not tried any trials. But I did join Balancetrader.com today - for the buck it seemed worth while especially for the tutorials about and how Frank Butera trades within the context of Market Profiling.