If you say moving averages work for intraday trades for you and other institutional traders (I have no doubt a lot of traders use them)
..then practice what you preach...
You make a claim, back it up...with one year of live trading. According to your logic, if someone doesn't do that they shouldn't post at a Forum.
So, start a thread and post the results.
I would also suggest you re-read my posts - I have CLOSED my shopping cart yet people keep knocking on my door wanting to get in. I am only taking prospects that will do the homework and backtest what I teach.
After 2009 I'm not taking any new clients; I don't want a job, I just want to support whoever came in the front door for as long as they need it and otherwise enjoy life and goof off a fair amount of the time. (The rent is paid for some time in the future!)
I would also suggest you re-read the thread - there ARE posted results of SECOND GENERATION traders, proving (at least for that trade, lol) the knowledge, training and support can be passed on to another generation of traders.
Where do you find that I don't offer much support? What I find is people DON'T want to take responsibility for the training I GIVE them...There are mechanical low risk reversals thoroughly documented and they are proven to work as far as the data goes back. The same reversal signal occurs at the same time in BOTH charts I use to trade.
Again, you have put out NO facts to back up your claims whereas I can show you a directory of my FTP server that has copiously clear training on various setups I teach (see attachment). The movies are 17 to 30 minutes long, btw.
I use Camtasia, take multiple hours of live charting, speed it up 10x, (so 60 min of charts = 6 min of viewing) add visual commentary showing EXACTLY how the setups work. ...this is in addition to the embedded streaming videos contained within the training materials I distribute for Module I, II, III. Somebody can rerun any movie 24/7 from now to kingdom come, even AFTER their 1 year support ends.
So, again, unless you have actually gone through the program and can factually nitpick where ANYTHING I say is misrepresented, you have no case.
I'll post the directory of the FTP server below and display in a following post a screen shot of a Camtasia movie.
I'm not knocking all the guys that use moving averages for trading, but I don't want to risk a lot of ticks when taking an entry, moving averages tend to get in at S3 or above on my speed charts, and R3 or lower -- I want 80% to 90% of the profitable move -- otherwise my account may be dented because I'm getting in too late.
Of course there IS a way to nail R1's and S1's, and they DON'T USE moving averages...ya gotta pay for that, lol!
I don't go around telling others their stuff doesn't work unless I've already done months and years of research and I don't go around telling people they don't do their job when I have no first hand experience.
As a technical aside, the e-signal chart you posted yesterday gets traders whipsawed, with lots of scratches, cuz the trade entries occur TOO HIGH in the cycle lows and TOO LOW in the cycle highs - instead, just measure the time of each cycle, and optimize for that...MACD is great but it's not a basis for taking a trade - everything has to be timed PERFECTLY to be accurate ALL THE TIME, so you take EVERY reversal that all 5 indicators DayRaider 2.21 say.
But, people are entitled to do what they wish, I have no prob with that.
Thanks for your interest in this thread, and good trading 'to the tick'. (Do a GoToMeeting, I wanna see that!...I'll even sign a nondisclosure agreement).
The Mechanical Day Trader