software DayRaider 1.1 by Stuart Kidney ?

Vrtrop22

I am the guy who suggested that you have to pay your dues. I agree that trading is not brain surgery. It is a profession however and as such, you certainly have challenges to overcome.

From my point of view the situation is interesting. You see several of the concepts that Mr. Kidney (I just can't get over that name) outlines are in fact valid. For instance I also watch the Cash Dow and I agree that the market moves in stages and each move is timed. In my experience the "moves" are multiples of 10 S&P points, and you can anticipate them based on "landmarks" like economic report and open and close times. What I object to is the idea that one can automate the process. If that were possible, a lot of institutional traders would be out of jobs and I can assure you that is NOT the case.

So I think the real deal is that one can probably automate certain of the elements of institutional type trading, but one cannot as of now anyway match an experienced skilled trader's ability to evaluate on the fly, to adapt to news, events, and other inputs that often change how markets move. In other words there's no substitute for simply learning how things work.

My advice is to stick around here and surf the web for other sites where traders hang out. It will take you time and I admit that it is not easy to find skilled people willing to share info. Also you can if you are patient find good sources of trading education that don't cost nearly as much.

Good luck to you

Stevesbg
 
Quote from stevesbg:

Vrtrop22

From my point of view the situation is interesting. You see several of the concepts that Mr. Kidney (I just can't get over that name) outlines are in fact valid. For instance I also watch the Cash Dow and I agree that the market moves in stages and each move is timed. In my experience the "moves" are multiples of 10 S&P points, and you can anticipate them based on "landmarks" like economic report and open and close times. What I object to is the idea that one can automate the process. If that were possible, a lot of institutional traders would be out of jobs and I can assure you that is NOT the case.

So I think the real deal is that one can probably automate certain of the elements of institutional type trading, but one cannot as of now anyway match an experienced skilled trader's ability to evaluate on the fly, to adapt to news, events, and other inputs that often change how markets move. In other words there's no substitute for simply learning how things work.

Stevesbg
More...

[sigh]....here we go again...I have never represented the One Minute Methodology as a

> a system
> that it features automated trade entries
> that trading decisions are 100% automated

I have represented that

> there are simple mechanical setups that can be explained to a competent chartist [finding a competent chartist, I end up having to train most everyone I meet...] in 5 or 10 minutes that occur day in, day out and can be traded with very low risk. These mechanical setups feature 'negative deviation' for short entries -- ' positive deviation' for long entries

> it can be backtested on the Dow Cash ad finitum

> no problem guaranteeing these two mechanical setups will reveal 500 Mini Dow points a week for a normal 5 day trading week (usually 900 to 1500 occurs).

May 6th is a stunning example.

With all due respect, announcement news doesn't cause reversals in the market...although they CAN cause reversals they don't necessary do (they CAN continue trends, for instance).

The 8:30 ET announcement is the all time favorite for traders - I use the "Globex Game" rules -- they work day in and day out and can be copiously backtested...those trades do take some cajones and are definitely not 100% mechanical -- about 80% once you're completely comfortable with DayRaider (since the Dow Cash is closed at that time).

The trade entries are taken BEFORE the annc time...when the annc time occurs, there are ONLY one of two outcomes

> the price cycle concludes shortly after the annc ....then REVERSES (two trades there)

> the price cycle continues from the trade entry that occurred before the annc (trend) and will feature at least one more trade entry in the same direction. The end of this trending price cycle will revolve around the 'open' of the Dow Cash

The later you enter a Dow Cash cycle, the higher the risk of having a crappy outcome -- The Dow reverses on TIME and PRICE objectives, the most unbending is TIME, at least according to my research (which can be backtested ad finitum also).

meanwhile, the Bear Market Rally continues...until it falls off the cliff (probably around Dow 9000 - who cares, I'm a daytrader)...all other key signals point to a inflation-induced meltdown in the future (imo)....be careful out there in your overnight positions...

The Mechanical Day Trader
 
As a past student an honest review.

Fundamentals of futures training.

How to read a chart, with double tops, bottoms, head & shoulders, old support equal new resistance. Nothing new here which is pretty basic stuff.

Yesterdays trade. mechanical systems either long or short from following afternoon. Knowing when yesterdays trade is finished is a lottery, 100points, 120points, 150 points etc.

Mechanical trades on Dow cash just give a name to an up trade or down trade.

Dow behaviours, time (reverses on half hour, price (decade number) and trend points Again, a lottery here as all very ambiguous. 100 points in 1 hour, 150 points in one hour, 200 points in 2 hours. So no concrete rules, just guesses as to when its finished and likely to reverse.

Day raider, very clever marketing to get you hooked in. Very disappointed as it's just a bunch of TA indicators, bollinger, keltner, SAR, ichimoku and time series forecast which is the blue line. It all looks messy and not very pleasing to look at. Indicators are just an oscillator with MACD.

To sum up, once a trend has dow behaviours, like throwing darts at dartboard, you get a double bottom, wait for positive divergence and enter slightly higher, which is s2. Dayraider would plot the time series forecast crossing the bollinger which therefore means its maximum oversold and thats your entry. But picking double bottoms is risky and therefore not good win loss ratio.

No concrete exit rules, just exit at next resistance or hold for trend.

All in all, rules all over the place, very confusing, and Stuarts demeanour not helpful to students who find it too much to take in, his catchphrase....it's so simple....MAAANNNNNN.

He certainly can talk the talk, which sometimes is gobbledegook to a new student and if you even ask a question he just fires off on one.
 
Ok anonymous hotshot (too scared to reveal his identity) -- [ the guy from California that never did any homework - not even Module I, so simple a 4th grader could do it. Is that you?

#1> You take the trades off the Dow Cash, not DayRaider. DayRaider is very organized and clean, you only look at certain things at certain time periods. If you are who I think you are -- you never even completed enuff training to even GET DayRaider training, and you're bad mouthing it...pretty funny.

If not, then you know....

#2 > When DayRaider shows the same deviation as the Dow Cash you take the trade (100% correlation - what's so hard about that?)

All the indicators give the same answer at the same time, if not, no trade TREND ENDS, BOY SCOUT and DEVIATION show about 6 'gimme' trades a day for 30 to 100 points per...email me the DayRaider screen shots of an entire day showing otherwise.

#3 > what are the KT trades on May 6th? How many points for each of the trades? How many Dow Behaviors for each trade?

#4 > you agreed to confidentiality when you subscribed, so now you're in trouble.

#5> do you have anything documented that it doesn't work? nope...and there's tons of documentation it does.

#6 > did you complete the KT trades I emailed last week, showing tons and tons of mechanical trades? Probably not.

#7 > and you also know that the Dow reverses 50% NOT on a price...and my tools GIVE you the # that the market reverses on, hours ahead of time.

Yup, taking responsibility for the knowledge and rules given is the sign of an adult...if you want it handed to you that was never part of the deal....if you put as much effort into going over past trades as whining you'd be ahead financially.

Why don't you make a claim against the moneyback guarantee? Cuz you can't..the stuff works day in and day out.

Another new subscriber today..that makes two IT professionals this week signing up...one has written a letter commenting about these whiners, I'll ask his permission to post excerpts of it...pretty funny...he actually signed up BECAUSE of the excuse-making crowd...they're going to relish proving you guys wrong.

and yes, a Live trading history will be posted in a journal later this month...might not be a full week but maybe one day at a time...I'm buried training all these guys in Europe and Britain in the morning hours then North American guys in the afternoons; things should open in for decent trading time windows in a couple weeks or sooner.

The Mechanical Day Trader
 
Quote from Archnemesis:

As a past student an honest review.

Dow behaviours, time (reverses on half hour, price (decade number) and trend points Again, a lottery here as all very ambiguous. 100 points in 1 hour, 150 points in one hour, 200 points in 2 hours. So no concrete rules, just guesses as to when its finished and likely to reverse.
More...

This is today's opening hours, One Minute Methodology & Dow Behaviors work marvelously. --- see the attachment

The reversal (short covering is taught as mui importante 'set your watch' and click mouse).

I've done a screen print of DayRaider 2.21 showing the Kindergarten Trades (both longs) -- if anyone wants to see them, set up an appointment with me. You'll have to agree to a confidentiality statement before viewing.

Another thing...I teach 'layered training'. No one can just crack a book and trade this...you need to view charting for about 4 weeks, then just take the easy Kindergarten Trades --- that is represented to everyone right up front.

Also...and I am really disappointed in anyone complaining about DayRaider 2.21 ---- when going thru this learning experience, it is wise to meet with me for about 10 minutes daily via GoToMeeting and go over your questions....in no way does anyone know everything....I state up front that there is probably about 90 minutes a day of the Dow Cash that I'm not sure what's happening...if anyone finds themselves stuck at a concept or idea, I have an open door -- just IM me on Skype and I will fit you in - usually the same day.

but that requires you to be open and teachable...if you act entitled that everything should just be on automatic pilot and all you have to do is request wire transfers out of your trading account, then...sorry go somewhere else...

This daytrading really pretty fun...when there are high risk scenarios or parts of the day that we're not sure about...we just wait for the next timed reversal and then follow the trading rules. 4 out of 5 days there should be multiple KT trades and everyone is taught just to take them until you build up your account several thousand dollars.

THEN take double tops and Dead Cats...this guy is NOT following my guidelines and IS NOT following Kindergarten Trading rules.

Anyone is open to contact me directly - my communication lines are always open.

Unless something really specific pops up, I'm going to concentrate on training these newbies and getting some trading time in, so unless the house is on fire, I will not reply to this thread for while but you can always email me - which I will answer the same day.

Regards,

The Mechanical Day Trader
 

Attachments

Quote from Dayraider 2.2:

[sigh]....here we go again...I have never represented the One Minute Methodology as a

> a system
> that it features automated trade entries
> that trading decisions are 100% automated

I have represented that

> there are simple mechanical setups that can be explained to a competent chartist [finding a competent chartist, I end up having to train most everyone I meet...] in 5 or 10 minutes that occur day in, day out and can be traded with very low risk. These mechanical setups feature 'negative deviation' for short entries -- ' positive deviation' for long entries

> it can be backtested on the Dow Cash ad finitum

> no problem guaranteeing these two mechanical setups will reveal 500 Mini Dow points a week for a normal 5 day trading week (usually 900 to 1500 occurs).

May 6th is a stunning example.

With all due respect, announcement news doesn't cause reversals in the market...although they CAN cause reversals they don't necessary do (they CAN continue trends, for instance).

------------
"with all due respect?" Which is it champ....it doesn't cause reversals, or it can? This is why people like me lose patience with your commentary....Sigh if you talk in circles then those of us capable of abstract thought are going to assume you are a con artist. That is what you sound like right here.

------------
The 8:30 ET announcement is the all time favorite for traders - I use the "Globex Game" rules -- they work day in and day out and can be copiously backtested...those trades do take some cajones and are definitely not 100% mechanical -- about 80% once you're completely comfortable with DayRaider (since the Dow Cash is closed at that time).

-----------------
The 8:30 announcement? (but a paragraph ago you state these events don't cause (but could cause) reversals? LOL

-----------------
The trade entries are taken BEFORE the annc time...when the annc time occurs, there are ONLY one of two outcomes

-----------------
Damn straight there's one of two outcomes you either win or take a loss, and THAT IS WHY EVERY GOOD PROFESSIONAL develops a method for handling this type of trade...NOW I know how to do this but I am not hearing that YOU do tiger...and I am betting you don't shit about this type of trade.

-----------------
> the price cycle concludes shortly after the annc ....then REVERSES (two trades there)

----------------
Price is always wiggling around...another non-statement jumble of word salad.

--------------
> the price cycle continues from the trade entry that occurred before the annc (trend) and will feature at least one more trade entry in the same direction. The end of this trending price cycle will revolve around the 'open' of the Dow Cash

--------------
Meaningless word salad again

--------------
The later you enter a Dow Cash cycle, the higher the risk of having a crappy outcome -- The Dow reverses on TIME and PRICE objectives, the most unbending is TIME, at least according to my research (which can be backtested ad finitum also).

--------------
Finally something that has some meaning. Yes there is a cyclical component to the Dow. Folks the reason the Dow is cyclical is because institutional traders all over the world get up in the morning, go to work, clear the previous night's business and get orders to execute AT SPECIFIC TIMES.

---------------
meanwhile, the Bear Market Rally continues...until it falls off the cliff (probably around Dow 9000 - who cares, I'm a daytrader)...all other key signals point to a inflation-induced meltdown in the future (imo)....be careful out there in your overnight positions...

---------------
another word salad statement with no substance. Newbies should not be holding overnights.

So after waiting and watching, what I think is that this person has a half assed idea of how it all works, and for reasons unknown to me, is unwilling to present a sensible approach that can be traded. The chart system is a mess. Clearly he is using oscillators (although he says they don't work lol) and the idea of "institutional stops" is simply crap. Stops are calc'd depending on local volatility of the market you are trading.

My advice is stay away. A trader interested in learning this business can do so by entry into the profession at a reputable firm, or by independent study. This is just another vendor taking your cash while talking out of both sides of his mouth.


The Mechanical Day Trader
More...
 
Stuart mentioned this thread to me...I've been a client of Stuart's since his Tradestation days ($750 per month) ....

His Tradestation stuff worked -- however, he found out that instead of just eyeballing the futures, most of the reversals were pretty systematically pegged on the Dow Jones Industrials Cash....he had automated programs that basically plotted the first reversal (ignore) then plotted the second reversal (take that one) according to some pretty striaghforward rules...but it was expensive and tradestation is kind of clunky to a lot of people..me included...for sure don't clear trades thru them -- except to get the free platform per month..

When he switched over to the DayRaider platform -- it was a lot more graphical...the Dow Behaviors -- yes there is some subjectivity to yesterday's trade...but you can go by the kindergarten trades if you have all day and consistently get winners....Stuart has streamlined the simple kindergarten trades...he's walked me through my losing trades ..many times i am too focused on the near term and I don't see the big picture...that takes some getting used to ; he says sit in front of the screen for four weeks then the same things happen over and over again...

For instance, a URUP trade is right to the minute....the few times it is not is not worth complaining about...happened again today..right to the minute..

I have not consistent losses...if I have had a losing streak it's been my fault...I am trading with 3 contracts all the time and that permits me the ability to scale in and out if I think a trading range is happening instead of a trend...

I've had esignal, tradestation, oh what else..a bunch of others...all you have to do is look at ONE screen and plot the dow behaviors and that pretty much is it..time really does catch a lot of the reversals...

2.21 is a HUGE HUGE HUGE improvement..the movies are excellent and he really zooms in on what each indicator does and when you should look at it...

I think a lot of the sour grapes is from people that don't really discipline themselves to only following what they are supposed to be following...if I am stuck we meet on gotomeeting and things are cleared up for the most part...Stuart listens to my feedback and the steady improvements he's made -- which are pretty comprehensive and once only every 3 months maybe are easy to catch onto...very logical...

so..no whining from me...it works and I'm even doing additional entries during the trending markets, piling up decent profits.

thanks Stuart!

oh yeah, i am his backup if he gets kidnapped in Costa Rica..he loves it down there from what he says; the vacation pictures he sends are cool.


Ron in Florida
 
OKay "Ron"

I will go a little bit further down the road, just for the hell of it, at what specific time did your Urup trade entry occur?

Personally this little comedy routine is getting boring. Read his commentary above. First he says announcements don't cause reversals (althought they could)....heheheh

Then in his next comment he talks about the 8:30 (his "favorite")

Clearly the Dow opens and then moves because of news or anticipated news or events. After that I know of a couple of landmarks that are reliable and I didn;t have to pay $750/month to learn about it nor did I have to buy proprietary software for several thousand dollars.

Steve
 
Let me jsut step in and say that I am the guy now in touch with Stuart. After reading the posts here I just decided it may be worth talking to him. I mean, let's face it. EITHER he is a crook, then this can be prooven, and then he is in trouble - money back is one thing, selling a faulty system knowingly is fraud. OR - he is real, and then... well...

I have some background in futures trading, am now what one would call a pretty top IT professional making my way back into the market. Originally, 18 years ago, I worked as IB for some time... so ;) I know from that time that a lot of people can not trade, and a lot of people can have a winning system and still blow it. Psychological thing. In this stuff here, what I saw all the time was Steward, being accused of cheating and offering to explain, and some other people - just whine. Hey, if he is a crook and you lost money, take him to court.

Some things first. In all the stuff I read and during our discussion he was very open. This is not a "ok, tomorrow you get rich" thing. This is working, learning, doing. He guarantees that works, consistently. He does not guarantee that everyone can follow it, and that everyone has the balls, brutally speaking, to go in. And that sounds serious to me. His whole offer of teaching long term until one understands things sounds as serious as it can get. The whole approach sounds not like "ok, I take some cash and run after sending you a stupid ebook", it sounds like "I will spend time, will spend effort, but you have to do the same and be serious". Personally, I like that. What more can one expect?

I have decided to give him a try. With his permission I will keep records of my journey once it starts and publish it - after he reviews them. Not to take out the experience, but naturally I do not want to disclose things I am not allowed to from the trading experience. But generics (numbers of trades, P/L) will not contain reasons and prices etc. One thing I know is that I will put up a big blame on him if I can proove that it is his fault and he is a crook. But I am NOT going to be fast with any accusations. Seriously, I do expect to loose money, which is why I will start paper trading and slowly fade in. Why? Because - and he is clear to that - it takes training. So what. I will paper trade for some weeks, then start with one contract and see how well it goes, slowly scaling in. I am sure I will make bad trades. But - as long as he can show me my errors, as he says he will - why the heck should I put blame on him? Stop whining guys, either proove your point (in court, and note that this is not only civil - you possibly would get the attorney general involved, as well as some other entities), or shut up. I have really bad problems taking people serious that accuse others running a business of fraud, but are not able to deliver any legally consistent proof.

If the numbers are correct - and seriously, I am not willing to accuse him blindly of fraud here - then it is worth putting effort in. If it works even half (or a quarter) as good as he says, it will be not only worth every cent, but it will be an experience. Will it work for me? I will see. After all, as it is said, one needs to find a system that fits to one. Maybe it works but it is not for me.

But then, after looking at the accusations here, and after talking to him - I will put money on the table, and will give it a try. YOu guys convinced me ;)

Oh, if anyone asks - the journey will most likely start mid of next month. I just got another contract, and we will be in a 5 week crunch time, and while I will play with some automated things I do here (fighting ninja trader - gosh, I wish it had a debugger, ome of the trades my system enter make ZERO sense from the way I read my code), I want to have some free time and a free head for Stuart. How else could I expect it to go?
 
Oh I love this....We convinced you to go with him

Bullshit

This smells like scam from the get go folks.

Tell you what, if you're so "convinced" how about having a reputable third party audit your trades and vouch for the results? Realtime, real money, put it on the line. If Mr. Kidney is the man you say he is, he will surely want to pay any fees for you, right? All you have to do is identify yourself so we know you and not the promoter are taking the trades. Boy the flood gates should really open once you prove this works.....I am sure Stewart will be anxious to prove himself in this forum. You could even call out the trades in our chat room here. That would leave no doubt at all.

Can't wait

Steve
 
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