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re Todd Mitchell
- Thread starter zaitzeff
- Start date
Quote from zaitzeff:
what experience does anyone wish to share about the method or course offered by Todd Mitchell and advertised on many financial websites?
he claims to be a top performer in TimerTrac I believe, but he avoids linking his performance from his "one page" website like other successful TimerTrac vendors do. So I would consider him as "fishy"
I would avoid him
Quote from zaitzeff:
My question is partly this:
If his method is good, why hasn't someone automated it on tradestation or navigator, and then let it run? Or, has someone already done this, and we just don't know about it?
On the other hand, at least some of his students say that they are seeing results.
Why do you think vendors can be automated? Or if their offerings worked, why would they let others see it or sell it as a "plugin"
In other words, if you spent years developing a method that outperforms, why would you let ANYONE else get the logic???
A friend of mine and myself purchased the Todd Mitchell course about two years ago.
When we received it and read it, I noticed that the stop loss was very high (3 points) and the rewards are very low (between 3-5 ticks).
I did not like that so I decided to watch it and paper trade it, but never convinced me nor gave me many opportunities to enter the market.
Todd allows you to enter his website to watch the day chart marked with the entries and exits he would have taken, after the market close.
My friend decided to follow it with real money and complained that the losses were high and sometimes the points where Todd said he would entered never filled the orders of him, nor the exits, which is usual in ES.
My friend used a tight money management approach, but nevertheless, he gave up after losing around 35% of his account and quited trading since then.
Todd does not give you any clue about money management, he just says, if you can make this system work with 1 contract you can add contracts.
I asked for a refund at the guarantee period but Todd said it was past the return time, so he did not granted that and told me that his system works and that I should use it. Period.
After that, I was banned to enter the website where I watched the daily chart and was so disappointed that I did not even asked Todd why he left me out. Obviously, because I complained.
We did not even wanted to go or take the personal mentorship after failing with the system.
The signals are very few and you have to wait very long time for a setup to get ready. Also, you have to be made of steel to stand the pullbacks in hope of getting a runner that pays for your losses.
This is a very honest testimonial.
You know why I do not recommend him.
Gerardo
When we received it and read it, I noticed that the stop loss was very high (3 points) and the rewards are very low (between 3-5 ticks).
I did not like that so I decided to watch it and paper trade it, but never convinced me nor gave me many opportunities to enter the market.
Todd allows you to enter his website to watch the day chart marked with the entries and exits he would have taken, after the market close.
My friend decided to follow it with real money and complained that the losses were high and sometimes the points where Todd said he would entered never filled the orders of him, nor the exits, which is usual in ES.
My friend used a tight money management approach, but nevertheless, he gave up after losing around 35% of his account and quited trading since then.
Todd does not give you any clue about money management, he just says, if you can make this system work with 1 contract you can add contracts.
I asked for a refund at the guarantee period but Todd said it was past the return time, so he did not granted that and told me that his system works and that I should use it. Period.
After that, I was banned to enter the website where I watched the daily chart and was so disappointed that I did not even asked Todd why he left me out. Obviously, because I complained.
We did not even wanted to go or take the personal mentorship after failing with the system.
The signals are very few and you have to wait very long time for a setup to get ready. Also, you have to be made of steel to stand the pullbacks in hope of getting a runner that pays for your losses.
This is a very honest testimonial.
You know why I do not recommend him.
Gerardo
Here's a clue. He insinuates that he trades profitably on his chart with posts like "went short here, took profits here," but never claims it is real money or posts any proof he trades profitably. Doing and being registered (or not) would put him in trouble if he in fact does not trade. That's why he withdrew everything I am guessing. If you read his material he never claims to profitably trade as he would have to prove it or else.
Ed Moore, Jon Stenberg and him were peddling the same course in the 90's and they all claimed to be the originators. Ed and Jon both got slapped by the cftc and Ed is still peddling his stuff, do a search on them. Do a search on any educator you are considering, a lot are still operating, just paid a fine and got out of cease and desist by playing stupid. Kent Calhoun, rsofhouston, etc.
http://www.nfa.futures.org/BasicNet/Details.aspx?entityid=0281737
Ed Moore, Jon Stenberg and him were peddling the same course in the 90's and they all claimed to be the originators. Ed and Jon both got slapped by the cftc and Ed is still peddling his stuff, do a search on them. Do a search on any educator you are considering, a lot are still operating, just paid a fine and got out of cease and desist by playing stupid. Kent Calhoun, rsofhouston, etc.
http://www.nfa.futures.org/BasicNet/Details.aspx?entityid=0281737