It is extremely hard to know who is a scam and who is the real thing out there if you do not try and that may cost you money. I too initially thought a few years ago that a certain guru was a scam just because I disliked his method. Then I followed his articles and I realized that I may be wrong. I recently subscribed to his daily service and his analysis is of high quality and his calls are excellent. That was not the case with several other high profiled services that issued 20-50 calls a day in hope they will catch something and then focused in those very few that did well when someone questioned their service. Another guy I tracked issued close to 20 position signals in a years and 15 of them failed but at the end he wrote an article showing only those that won! This industry is full of jerks and unfortunately good people are also looked upon with skepticism.
Is it possible earn 20% a year swing trading stocks.
- Thread starter Fate
- Start date
With such an unlimited upside, you would think traders would be willing to risk a few thousands to find out who knows how to trade, and learn from them.
This is becoming my experience with my latest Guru. Still, the few hundred bux bought me some first hand knowledge on which brokers do well with the type of fringe, "junk" securities I want to trade. Even a famous perma bear service I had a few years ago taught me how to count compound waves, and thanks to one of their many wrong calls, showed that the type of TA they were using was far from exact, which shattered some illusions and cleared the way for simpler risk based setups.
They say happiness is a choice, and I would dare extend that to include profitability as well :eek:
a wise sentence !
With such an unlimited upside, you would think traders would be willing to risk a few thousands to find out who knows how to trade, and learn from them.
This is becoming my experience with my latest Guru. Still, the few hundred bux bought me some first hand knowledge on which brokers do well with the type of fringe, "junk" securities I want to trade. Even a famous perma bear service I had a few years ago taught me how to count compound waves, and thanks to one of their many wrong calls, showed that the type of TA they were using was far from exact, which shattered some illusions and cleared the way for simpler risk based setups.
They say happiness is a choice, and I would dare extend that to include profitability as well :eek:
Why you still following paid gurus? When there are so many free gurus on EliteTrader?
This system averages $2.5 per contract per trade in backtest ... in my experience, it has 100% chances of having a negative expectancy when traded live.
Assuming you have properly configured commissions & slippage for backtest, you are still exposed to NinjaTrader not accounting for the requested slippage in the majority of situations ... I bet the average per trade will become negative once you backtest with the "BetterThanDefault" filltype, and 1-tick slippage.
(unzip then manually place BetterThanDefault.cs in Documents\NinjaTrader 7\bin\Custom\Type ... load any strategy or indicator in the editor, hit F5 to compile, and BetterThanDefault will be compile & become available for backtest).
Also, as a curiosity, what is the maximum number of contracts traded simultaneously on a single instrument?
The latest Guru is a specialist in a certain type of low priced securities we can't discuss on here :eek:
Just like when various nations spy on each other (and us), there are different ways to harness any nuggets. Some copy outright, others reverse engineer to understand the science behind the device which they re-develop into their own version, and still others aim to discover the weakness they can later attack.
Using this metaphor in trading, ET is like the NSA spying on US citizens....... there is lots of data to throw out before you find something worth paying attention to. When spying on US scientists (or Gurus), however, the information is directly in view :eek:
only 1 contract per instrument ,i did not go further with it because i strongly believe nowadays an automated system is not performing any better than discretionary one (at least on my strategy ).i did not tested it live but every day i'm completing that whenever i'm free and far from trading .thanks for this indicator.why do you think in live trading it will become a negative expectancy ? i think drawdowns are very large because at the moment i couldn't code what i wanted in discretionary properly.if i fix that , i guess it will be o.k and with performing that on higher time frame slippage issue will be resolved(hopefully)
Just get "BetterThanDefault" compiled, then backtest your strategy using that filltype instead of "Default", with 1-tick slippage - You'll see immediately what I am talking about.
You can do both, sell the indicator AND profit from it.
I can sell an e-book on how to catch more fish (for let's say $100 per copy) and still catch as many fish as I want from the local lake, no?