is anyone using hindsight trading?

[gooni]

Quote from trade247:
Don't make the mistake that all they teach is the Russell 2000 e-mini contracts. The system works in every market.

All they trade is the Russell during the course. Some of the 'proprietary indicators' (moving averages) aren't well tuned to other markets.

Quote from trade247:
Also, when you put on a trade with the Russell 2000, it yields at 20% for every 1 point of movement. Why not use a high leverage futures contract when you can predict movement with such a high degree of accuracy? I do.
Tuition. Yes, it is expensive to start, however, the 6k I paid is negligible compared to the money made with the system. Are there cheaper systems, probably, don't forget you get what you pay for.
My stats this week with the Hindsight System.
9 trades, 7 won, 2 lost, UP 3.2 points. Thats 64% return. Hindsight for life!!

This sounds like either one of the original two founders, or their latest tutor. The 20% return, 64% return talk is what gives it away, as well as the "predict movement with such a high degree of accuracy?"

7 wins, 2 losses for 3.2 exemplifies this 'system' - it requires a very high win ratio (75-80%) to be marginally profitable, and that unfortunately takes a year of sitting in front of the russell every day to achieve. If you've got the patience to do that, you won't need this 'system' to do well - you'll know the market well enough already.

There is nothing wrong with the system. I just think it's overpriced for what you get, teaches poor risk management, and uses dodgy sales tactics that are unfortunately going to get many people burnt.

 

[Bogan7]

Quote from trade247:

I trade with the hindsight system every day. It takes a lot of self control, however, the key to the systems success is it's simplicity. We execute a suite of 6-10 standard trades, when the correct criteria exist there are even buy/sell indicators to assist in the assessing the position. This is by far the most simple system I have come across.
Don't make the mistake that all they teach is the Russell 2000 e-mini contracts. The system works in every market. It's a system that teaches a handful of simple to read trade indicators making it possible for anyone with any amount of knowledge to trade successfully.
I know others using Hindsight Trading who actually work for another company that coaches students in the stock market.
Also, when you put on a trade with the Russell 2000, it yields at 20% for every 1 point of movement. Why not use a high leverage futures contract when you can predict movement with such a high degree of accuracy? I do.
Tuition. Yes, it is expensive to start, however, the 6k I paid is negligible compared to the money made with the system. Are there cheaper systems, probably, don't forget you get what you pay for.
My stats this week with the Hindsight System.
9 trades, 7 won, 2 lost, UP 3.2 points. Thats 64% return. Hindsight for life!!

You obvioulsly work for them or are them either way no great recommendation you shill

 

[trade247]

Actually I don't work for them, I work for a company called Prosper. Want to talk? 800-748-5199, ext 4210. I am not sure how long this guy has tried to use the system. Yes, I am one of the students, I was actually one of the first. And NO, it wasn't easy. It actually took 2 or 3 months of learning the system before I was consistent. It works for me, but obviously not for everyone. Best of luck to all. Oh, calling people names, .... nice.

 

[gooni]

Just for the record, if the owners are reading this, my reasons for posting are:

1. There was no information available about Hindsight Trading on the internet when I was researching. This is as good a forum as any for debate and opinion. Mine is not the only one.

2. This is not about what my personal opinion of the owners are. Like I said in my first post, Sean and Jason are very helpful and seem to truly want every one of their students to succeed.

3. There are certain sales and marketing tactics that should, with no exceptions, disappear from the trading world. Talk of 1 point in the Russell being 20% is one of those. Suggesting someone trades a Russell contract for each 500-1000 USD they have is another. The crowd that ends up attracting is the crowd that cannot afford to lose that money.

4. An operation such as this cannot reasonable expect to grow beyond a certain size. Aiming for size and growth leads to inevitable loss of quality in training and loss of the edge in the system (and yes there is one particular trade, the most consistent, that is purely 'rule-based'). That is the sad fact of teaching training that most vendors need to learn - you either make more money training, in which case the system goes to !@#$ or you make more money trading, in which case you never grow beyond a certain size (training becomes the secondary business for extra cashflow). Don't lose track of which is more important to you (short term money or quality product).

5. Finally, if my comments are read, my biggest gripe is the cost of what you get. One on one 'training' with experienced mentors will cost less than this - and I mean training and watching what an experienced person does, as opposed to remote review. Once I learnt the system, I got more out of the 3 or 4 videos of them trading live than *any* of the other countless sessions (which are generally shared by 15+ other people).

How much would ET'ers be willing to pay for a one market system, 6 weeks of mentoring (18 sessions approx) of 60 min each, shared with 15+ other people? And no 'live' trading with the mentors at all?

 

[hindsight]

I am one of the owners of Hindsight Trading and wanted to leave a quick note. We appreciate any feedback from students going or that have gone through our program. We didn't start the company and then start trading, just the opposite. Sean and I were bombarded by people who watched us trade at work before this all began. At first we didn't want to share nor did we know the legal ramifications of giving "advice." After getting a small board and legal help, we formed the company. (Our legal team also reccomended not making live trades in front of students as that can be duplicated at the same time and seen as financial advice thus falling into SEC regs, that is why they are recorded videos) We had quit our jobs to trade before we grew the company. Its nice because as gooni stated, we usually only make a few trades a day and yes scalp out 20-50% off the money traded. We are left with lots of time. (Just because we are trading usually 5K or 10 contracts doesn't mean that is 100% of what we had in our accounts) Anyone that has gone to classes knows that is what we teach. We actually only did 1 on 1 not the 15+ he mentions with this student. He has not had interaction with our regular classes as the time difference (he is in Australia) made it very difficult for him. We created a new class just for him and re arranged our schedule to do so. The classroom format has proven to be successful so we will continue to use it as watching and learning from others mistakes seems to speed up the learning curve.

Will our students and other traders trade well over 10%, or even 50% of what they have in their trading accounts? I'm sure they will. That is something we don't have control over. As stated in our manual, we recommend trading a small portion of what you have in your trading account as to keep an abundance mindset and allowing yourself to leverage yourself forward as quickly as you may have backwards.

Not sure how to put the percentage in any other form but 20% for every point of movement on money you have in your trade on the ER or 10% on the ES. (supposing a 500.00 typical margin) Even if you have a million in your trading account and you trade 10K, every point is 2K. This doesn't change and is not a variable. Most people looking to use this or any "system" are looking for a way to make extra money daily and these numbers are the only constant. We will have loosing trades and loosing days, that is a constant in any market.

This student is very savy and brings up some great points and they have been duelly noted. We really enjoyed our association with him and hoped he would finish up the course and we could help him become profitable. It is tough for any trader to "get it" in just 6 weeks. Just as it took us hours of study, it will for anyone. We love the trading world and everything about it. If our "system" can help others get involved with it and make extra or possibly a lot of money, we have done our job. Will everyone "get it" or even like it...of course not but that is indeed life.

 

[gooni]

This will be my last post on this topic.

I, like most students, took value from the Hindsight Trading course. Especially as someone who does not have an existing system to trade, this can be a very useful starting point and will potentially make you money.

However, if:

1. The money being asked will cause you financial burden, don't take the course. It is not a quick road to financial success and there is better value for your money from an educational standpoint. Other options might not have the same level of 'support', but at the end of the day spending the time learning is more valuable than spending the money.

2. You already have a system for trading, that you or the person you learnt it off have been successful with, then stick to it (or simplify it, or modify it, whatever's needed). This course is not the 'holy grail' - the secret lies, as I keep mentioning, in spending the time in front of the screen, watching the market, developing your own rules and sticking to them.

If you don't already have a working system, and/or don't mind spending the money being asked for by Hindsight Trading - which describes my position when I took up the course - then I see it as something worth pursuing. Certainly Sean and Jason, like I keep saying, are very helpful and want everyone to succeed. Just be sure you can *really* afford to pay for their help.