I've been one of the biggest critics of RC-Trader. But my main criticisms were his not posting all of this trades (good and bad) on this website.
But he does post them at his website, so that point is not really valid. After I got past that non-issue, I decided to do a through analysis of his trade results (since inception of posting), with the following results (please see attached file).
For all the critics, it is a valid system which has the ability to produce outstanding results and can be an invaluable resource for newbie traders (when it gets on a roll, the system produces very good results indeed).
As the chart also demonstrates, if you can produce a result of 2.00 pts ES, per day, for an average of 16 days per month (yes, I know there are normally 20 trading days - give or take) you will be able to pretty much match these results. Just remember you have to make your 2 pts of profit every day for 16 days per month (easier said than done and the mark of a true professional).
Using past history (which just gives you, the trader, an idea of the potential results) the trading system has generated a "best-case-scenario" of 19 consecutive winning trades (trades with profits of $0.00 or more) for a sum total of $2,925.00 per ES contract and a "worst-case-scenario" of 3 consecutive losing trades (trades with profits of less than $0.00) in a row for a total $(900.00) per ES contract. I would take this to mean that the trader should have at least $4,000 per contract in margin to deal with the potential drawdown, you can feel free to use your own interpretation.
In the final analysis, is the Chat Room worth it at $500 or $1,000 per month?
If you don't have a lot of experience and $10,000-$40,000 you want to put to work, it's a bargain (because it saves you a rather grueling learning curve - which many traders never survive).
If do you have a lot of experience and are working with $2,000 per contract ES (or less) and currently have a profitable system, probably not.
Would I pay good money for it? - honestly, yes, if I had the money to burn ... to satisfy my curiosity about a system which is apparently neither TREND nor COUNTER-TREND trading.
As with all trading systems, you should PAPER TRADE it for AT LEAST 3 Months (something to do with the learning curve) before putting your money to work in it.
Best Regards to Everyone,
Jimmy
Note: All of the above commentary and the enclosed charts are presupposing that the information posted on the RC-TRader Chatroom website is both the most up-to-date and accurate information, and includes all trades taken.
But he does post them at his website, so that point is not really valid. After I got past that non-issue, I decided to do a through analysis of his trade results (since inception of posting), with the following results (please see attached file).
For all the critics, it is a valid system which has the ability to produce outstanding results and can be an invaluable resource for newbie traders (when it gets on a roll, the system produces very good results indeed).
As the chart also demonstrates, if you can produce a result of 2.00 pts ES, per day, for an average of 16 days per month (yes, I know there are normally 20 trading days - give or take) you will be able to pretty much match these results. Just remember you have to make your 2 pts of profit every day for 16 days per month (easier said than done and the mark of a true professional).
Using past history (which just gives you, the trader, an idea of the potential results) the trading system has generated a "best-case-scenario" of 19 consecutive winning trades (trades with profits of $0.00 or more) for a sum total of $2,925.00 per ES contract and a "worst-case-scenario" of 3 consecutive losing trades (trades with profits of less than $0.00) in a row for a total $(900.00) per ES contract. I would take this to mean that the trader should have at least $4,000 per contract in margin to deal with the potential drawdown, you can feel free to use your own interpretation.
In the final analysis, is the Chat Room worth it at $500 or $1,000 per month?
If you don't have a lot of experience and $10,000-$40,000 you want to put to work, it's a bargain (because it saves you a rather grueling learning curve - which many traders never survive).
If do you have a lot of experience and are working with $2,000 per contract ES (or less) and currently have a profitable system, probably not.
Would I pay good money for it? - honestly, yes, if I had the money to burn ... to satisfy my curiosity about a system which is apparently neither TREND nor COUNTER-TREND trading.
As with all trading systems, you should PAPER TRADE it for AT LEAST 3 Months (something to do with the learning curve) before putting your money to work in it.
Best Regards to Everyone,
Jimmy
Note: All of the above commentary and the enclosed charts are presupposing that the information posted on the RC-TRader Chatroom website is both the most up-to-date and accurate information, and includes all trades taken.
