Hey Guys,
if you go to this URL:
http://www.rc-traders.com/chat/chatroom_performance.php
you'll see RC's trade blog where he lists his trades (contrary to the blurb on the website, he is currently "Experiencing Consecutive Losing").
Don't get me wrong, I was fascinated by the site when I first found it, I've read a lot of material about RC Trading and I wanted the guy to "win" (why not, it seemed he had paid his dues and come out on top).
But to have consistent losing (in this case, the exact same trade in a market that was in distribution) is pretty bad considering the amount of money you want marks uh, traders to spend on your trading methodology. I honestly don't know what the RC Trading method is, and if it is supposed to be a system with a hidden "edge" that gives you 70-80% winners, by the looks of it, neither does this guy.
You'd be much better off studying and using any one of a dozen Moving Average Cross-overs (info on the web for free), or Woodie's CCI (info on the web for free) or a classical western indicator (DMI is one of my personal favorites, can find out about it on the web for free).
Using any of the above combined with some basic technical analysis and decent money moneymanagement you'll do equally well if not better than a system that gives you a 7.00 ES pt Stop (that's MUDER on a small - $2,000 per emini - account) AND loses twice on virtually the same setup two days in a row (10/4/05 and 10/5/05 to be exact).
BTW, his website has 10/4/05 and 10/4/05 on what are obviously two different trades-just look at the Highs. I mean this guy is just sloppy and lazy. I hate to say it, but this is obviously a system being sold by a "Guru" who, while trying to make big money by intraday-trading discovered that the best way for him to make money was to fleece gullible newbie traders of theirs!!@#@!!
Best Regards and Best of Luck,
Jimmy
:eek: :eek: :eek: :eek:
