Quote from minitraderES:
Right - trying to update username.
I like it because its 1m charts,
I would guess faster scalps, less exposure.
They have a point goal in mind and try to create a mechanical emotionless trade.
They have live training for as long as you need it.
I dont like,
the cost
thier stop out rate in the free seminar
everyone bad rapping it here
Okay. So you want quick action. Scalps of the wild beast. Like trying to pluck a hair off its back. It's not easy you know.
It's good you identified the type of trader you are. I agree with your comment that they have a valid profit target and a specific stop loss. Every new trader needs this direction. Live trading may make you more comfortable in the beginning. Only you know this answer.
The folks at TIMES are marketers and business people. They are capitalizing on every new traders dream. I admire them as business people and marketers..they have done a fine job with this product. They have gained a lot of credibility and AT(big cheese's intials) has done webinars for CBOT, etc. What we as business people have to understand is...."Does this make sense for me?" Is it a good way to begin or build a business plan?
Here at ET you have to absorb and filter. If you are getting a lot of "bad rapping" here, you should ask yourself why? Do you really think they are all jealous or are they trying to give you a clue to research the opportunity very carefully. I think you will find, that the success ratio of these 2 point trades is borderline on a 1 minute chart.
The indicators used in this system are not intellectual property or proprietary. They are standard off the shelf that anyone can dulplicate. So if that is the case, what are you buying. Well the answer has to be the on-going support, relationships, mentoring, etc. Is this worth $5000 dollars or would you rather develop your own system and risk $5000 to develop it yourself. Either way, it will take a lot of 2 point trades to recoup your investment.
I used to trade my own version of this system when I first started. I sort of copied what they were doing because it made sense. It took me several weeks to understand that it was not working for me, so I changed my methodology. As I developed as a trader, I knew that I did not like to trade against the short term trend so much. This system trades against the trend at its core. There are trend following signals that are taught. These are just buying pullbacks in a trend basically.
Respect what you are hearing from the folks here at ET, but at the same time.....use your ability to make a decision based on what you think is correct. If you are correct, wonderful. If not, move on. If you really want to be a successful trader, then you will be someday.
VT