captain-rick
Newbie
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This ebook is one of the first I purchased and looking back I can safely say it was a waste of money, way overpriced. To present a beginner with two subjective indicators and a discretionary stop loss/profit target is a recepie for disaster. Okay I had a few small wins with it but I might aswell been throwing darts. The markets will do whatever they want to do and very often only give minor retractments on the open, contrary to the ebook stating that 'markets rarely trend at the open' You have to question the motives behind these threads, most of the experienced guys on here will not endorse this kind of material for a reason. I purchased the ebook mainly because a T2W member with a respectable ranking gave it the thumbs-up, thinking it was the closest I'd get to an impartial opinion. Do yourself a favour, look for free information, secondhand books, ebay, amazon, elite trader bargain basement. It's really not worth the money. I apologise to the author for any offence but your charging people too much.
captain-rick
Newbie
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Here are a mass of links with no price tag attatched...... enjoy.
Bought the book based on the guarantee. Once I realized that it didn't fit my style I requested "no quibble" refund. Absolutely no go! The guarantee is that the system will show x% wins, nothing to do with your satisfaction.
I have the book gathering "dust" in a folder. Learning life's lessons the hard way is costly!
I have the book gathering "dust" in a folder. Learning life's lessons the hard way is costly!
ronfalcone
Member
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learning life's lessons the hard way
I can't speak for or against Kowbeka's 60 Minute Trader, but I can give you the results of my own experiences with extensive study of the opening of stocks, and trying to trade them intraday.
I studied stocks in their opening ranges from every conceivable angle, time frame and with every combination of indicators you could think of. I tried opening breakouts above the first half hour of trading, waiting for retracements after the first half hour, shorting the opening (ditto), waiting for pullbacks to moving averages, etc. ad infitum. I have conducted literally about 1000 trades in the last 2 years and most of my trades involving opening plays were losses. In my opinion, the best plays are in the minority and will probably net small amounts. In short, the markets are simply too fickle and random when time frames are shortest (i.e. intraday), so I must say, I am extremely circumspect as to any method that claims a "75%" success rate as Kowbeka's does.
BTW, I notice that the price of The 60 Minute trader has gotten to be quite inflationary, having jumped from app. 100 US to as we say in America, a 'buck and a half.' What justifies the 50% increase in price?? Has the winning percentage also jumped for trades??
Just my thoughts and opinions in an effort to help others avoid the same mistakes I have made.
I can't speak for or against Kowbeka's 60 Minute Trader, but I can give you the results of my own experiences with extensive study of the opening of stocks, and trying to trade them intraday.
I studied stocks in their opening ranges from every conceivable angle, time frame and with every combination of indicators you could think of. I tried opening breakouts above the first half hour of trading, waiting for retracements after the first half hour, shorting the opening (ditto), waiting for pullbacks to moving averages, etc. ad infitum. I have conducted literally about 1000 trades in the last 2 years and most of my trades involving opening plays were losses. In my opinion, the best plays are in the minority and will probably net small amounts. In short, the markets are simply too fickle and random when time frames are shortest (i.e. intraday), so I must say, I am extremely circumspect as to any method that claims a "75%" success rate as Kowbeka's does.
BTW, I notice that the price of The 60 Minute trader has gotten to be quite inflationary, having jumped from app. 100 US to as we say in America, a 'buck and a half.' What justifies the 50% increase in price?? Has the winning percentage also jumped for trades??
Just my thoughts and opinions in an effort to help others avoid the same mistakes I have made.
ronfalcone
Member
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JonnyT said:
Oh really? Well, now, what would that 'very simple technique' be exactly? Let us all in on it, blanks provided below:
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counter_violent
Legendary member
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ronfalcone said:
You might try a search on "Mark Fisher" this may or may not be of interest, but he certainly seems to have found an edge. All to do with opening bars/ candles....good luck !
Ok it really is simple.
Use 5 minute charts.
Wait for the first move to be finished by a candle in the opposite candle. Go with the counter move loooking for 10-20 points.
Do the same again for the counter move of the counter move.
Use a tightish stop.
It works more often than it fails, giving two winning trades.
Alternatively trade breakouts on the 5 minute chart for RIMM!!!
JonnyT
Use 5 minute charts.
Wait for the first move to be finished by a candle in the opposite candle. Go with the counter move loooking for 10-20 points.
Do the same again for the counter move of the counter move.
Use a tightish stop.
It works more often than it fails, giving two winning trades.
Alternatively trade breakouts on the 5 minute chart for RIMM!!!
JonnyT
ronfalcone
Member
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trading 5 minute candles
I suppose I should have clarified my initial post, but my research wasn't conducted on futures, only equities. Anyway, sorry for my ignorance, but how does one play a counter trend on one candle to yield 10 to 20 points profit? Sounds like you've discovered some scalping secrets that no else has heard of. Pardon my doubt, but I'm just highly skeptical of anything that sounds too good and profitable to be true. What type of vehicle are you trading anyway?
JonnyT said:
I suppose I should have clarified my initial post, but my research wasn't conducted on futures, only equities. Anyway, sorry for my ignorance, but how does one play a counter trend on one candle to yield 10 to 20 points profit? Sounds like you've discovered some scalping secrets that no else has heard of. Pardon my doubt, but I'm just highly skeptical of anything that sounds too good and profitable to be true. What type of vehicle are you trading anyway?
commanderco
Well-known member
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juanbyte said:
Hi Juanbyte,
Do you mind telling me what this piece of free software is?
many thanks
