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re Todd Mitchell
- Thread starter zaitzeff
- Start date
Doubt there is a chat room, everything would be recorded. Did he ever offer you proof that he trades or did you ask.
As I recall, he claims to be a top trader on some tracking service, but does not bother linking that "performance" from his site. In fact, his site is VERY bare bones
Frankly, I don't think the govt just requiring them to post the standard disclaimer, and hiding behind the "publisher" marquee should be sufficient. I think EVERYONE offering any kind of service, should have to submit signals, and have an independently audited track record. Hulbert, a broker, whatever. Everyone knows that probably 95-99.5% of them don't work, so they are fundamentally, thieves.
Many of them don't even bother with their own unverifiable (usually backtested) track record. Why would ANYONE send money to someone who doesn't even pretend to have a track record?????
Leaving newbies of course, to the whims of such as Falcon Day Trader and others. "Just trust me, and send a few thousand my way and I will make you rich."
Frankly, I don't think the govt just requiring them to post the standard disclaimer, and hiding behind the "publisher" marquee should be sufficient. I think EVERYONE offering any kind of service, should have to submit signals, and have an independently audited track record. Hulbert, a broker, whatever. Everyone knows that probably 95-99.5% of them don't work, so they are fundamentally, thieves.
Many of them don't even bother with their own unverifiable (usually backtested) track record. Why would ANYONE send money to someone who doesn't even pretend to have a track record?????
Leaving newbies of course, to the whims of such as Falcon Day Trader and others. "Just trust me, and send a few thousand my way and I will make you rich."
My experience is similar to those who have tried the course. Large risk, small rewards leading to regular losses. One thing I did not like, was Todd displaying his methods by analyzing each days trading.......after the fact. It's alot easier to show your trading technique when you already know what the market did!
Reluctantly......Todd did return my course fee since I returned it on time. He acted as if anyone who asked for their money back was defrauding him by getting his knowledge for free.
Reluctantly......Todd did return my course fee since I returned it on time. He acted as if anyone who asked for their money back was defrauding him by getting his knowledge for free.
a few things regarding Todd Mitchell course......
1. just because something can't be automated doesn't mean it can't be a viable trading methodology. Not sure where that idea came from.
2. To say it's high risk vs low reward is not entirely true. Yes, the initial stop losses are 3 pts however that is quickly moved up if you are following the methodology. 3 pt stops are rarely taken.
3. I had some success with this course initially and believe Todd to be a genuine person. However, I could not consistently make it work and it now sits on the shelve. This doesn't mean it can't work or is not working for some people. Just saying that I personally gave up after 3 months and much back testing.
1. just because something can't be automated doesn't mean it can't be a viable trading methodology. Not sure where that idea came from.
2. To say it's high risk vs low reward is not entirely true. Yes, the initial stop losses are 3 pts however that is quickly moved up if you are following the methodology. 3 pt stops are rarely taken.
3. I had some success with this course initially and believe Todd to be a genuine person. However, I could not consistently make it work and it now sits on the shelve. This doesn't mean it can't work or is not working for some people. Just saying that I personally gave up after 3 months and much back testing.
You did backttesting using tradestation, pfgnavigator, or, something else? Over what time period, if I may ask?
for what it matters, I am a broker in an office in which other brokers have been recommending to clients and potential clients that they study and adopt the Todd Mitchell trading methodology.
However, when I ask about the results of clients that are using it, I get vague and confusing answers, which amount to
everybody is really just doing their own thing and the results are all over the map as a result.
The accounts of two clients of which I know who are or who have tried using the program don't seem to be doing so fantastic.
for what it matters, I am a broker in an office in which other brokers have been recommending to clients and potential clients that they study and adopt the Todd Mitchell trading methodology.
However, when I ask about the results of clients that are using it, I get vague and confusing answers, which amount to
everybody is really just doing their own thing and the results are all over the map as a result.
The accounts of two clients of which I know who are or who have tried using the program don't seem to be doing so fantastic.
I did it on TradeStation. I was backtesting his basic bread and butter type entries. His technique is buying retracements into intra-day trends and taking small bites.
It's pretty objective so that's why I gave up when I couldn't make it work on a 3 month backtest.
once again though, doesn't mean it can't work just saying that I was unable to make it work. I don't think it's a scam or total crap or anything like that.
It's pretty objective so that's why I gave up when I couldn't make it work on a 3 month backtest.
once again though, doesn't mean it can't work just saying that I was unable to make it work. I don't think it's a scam or total crap or anything like that.