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John Carter - Hubert Senters - tradethemarkets.com SCAMS?
- Thread starter observer75
- Start date
Quote from shortie:
the strange thing is that was not a huge range day. it was not one-sided either. Up in the morning and then steady sell-off until EOD.
Yeah he uses moving averages as support levels and when I was in the room only entered when all 7 that he uses were moving up or down so after the morninv rally he probably bought initially near the hod
Tf is Russell 2000
Quote from austinp:
... and once you actually experience that type of forced liquidation into a big net loss, it changes everything in your mind. Now that it actually happened for real, you know it can happen again. At any time.
No doubt the same general tactic has worked out in the end literally dozens of times before. TF is spiky enough to make counter-trend moves that would "bail out" many bad situations. Surely he was deep red a ton of times before that eked out slight gains in the end for another "winning" day.
But all it takes is one time to make the wrong decision or one time of a flash-crash going against and your account is pixie dust.
People who cannot trade resort to average-down tactics. Whether they are lazy and don't want to pay the dues necessary to understand price action or honestly think they can martingale forever and block out statistical reality is debatable.
It's a sure thing this guy is emotionally changed forever now. I've known traders who wrote naked options and lost two - four times that much intraday. None of them ever recovered, all of them quickly washed out of trading soon after. Maybe this guy will be different, test of time tells.
You make an excellent point.
John Carter with a 50 lot of ES 5 mins to the close:
http://www.tradethemarkets.com/public/Live_Trading_on_ES.cfm
Method or madness? You decide.
http://www.tradethemarkets.com/public/Live_Trading_on_ES.cfm
Method or madness? You decide.
Quote from weewilly:
John Carter with a 50 lot of ES 5 mins to the close:
http://www.tradethemarkets.com/public/Live_Trading_on_ES.cfm
Method or madness? You decide.
I don't like his use of 7 different indicator's but he defines his risk
The problem with a mean reversion strategy is sometimes the mean reverts to the price leaving you holding the bag.
Quote from bathrobe:
what will always go wrong when you employ above strategy, the market will not always come back and when you do not understand the meaning of risk management your broker locks you out and closes said trade.
Quote from weewilly:
John Carter with a 50 lot of ES 5 mins to the close:
http://www.tradethemarkets.com/public/Live_Trading_on_ES.cfm
Method or madness? You decide.
Madness? What do you mean? John Carter trades this particular trade all the time, closing the trade a few minutes before the 4:15pm futures close if his targeted levels aren't hit.
He has 2 points of risk, for a total risk of $5000. Last week he made over $45,000 in the live trading room, so 2 points on 50 contracts is not a big deal for him.
Quote from Whimsy:
Carter and Senters always define their risk. I'm told Hoffman never does because of his Martingale method. Stupid! Or maybe ego driven, still stupid for an experienced trader.
If the position was closed for margin violation, that meant it had to fall below $500 per contract if that specific broker permits day-trade margin... which might not apply to 800+ contracts but each broker can define risk as they please.
There is no such thing as exchange mandated intraday margin... just marked to market at each close. So if he was using day-trade margin on the entire position, 850 contracts x $500 = $425,000 remaining balance to force the liquidation.
Unless the broker limits day-trade margin to something greater than $500 per contract or limits the amount of contracts able to use day-trade margin, it looks like an initial balance of +/- $750k to start the day became +/- $400k to end.
Still more than enough firepower to make tons of money with... if trading with the market, not against it. Anyone who tries to martingale for long-term success always ends up in the same place as everyone else before & since: broken