Hello Speddoch in London , U.K.speddoch said:Does anybody have any info on 60 minute trader. As far as I can gather the method fades the DOW shortly after the open.
Thanks
JonnyT said: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
richsong said: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!
The bit that caught me out was the cost of setting up the system with various brokers etc. "if you dont have $2000 dont bother trading"
Sounds like you want something for nothing, that is not how the markets work. The refund policy is a performance one, if it does work as stated on the site you get your money back. You have failed to show were it has underperformed.After requesting his forex book would be better for me, and could i have that instead of a refund,
i couldnt bench test it for free so dont know if it works,
doctrader said:are there any folks here besides Chris making money trading this method,specifically in futures?
I believe that the method being discussed here sounds something akin to fading-the-open, which the DOW minis set up nicely and often. Simply wait for the DOW to reach its 10am peak on, for example a bullish day, then play it short. Some traders use Williams % to give a heads up when the play is about to reverse, but I find the Williams to be a somewhat manic depressive indicator that is neither accurate, nor optimal for letting "profits run."
Only problem is, while you might make a few points here and there, can you make a living with this one play? I have my doubts.
For those interested, there is a very well publicized e-minis future course put on by Todd Mitchell; I've looked into it---there are plenty of real and authentic endorsements about the course and I believe that Mitchell is legit. Only problem is, I aint got 2k (USD) for the course, and aren't quite sure precisely what he teaches. To look him up, do a Google search with keyword "Todd Mitchell e-minis."
Another interesting trader/teacher is Mel Raiman who uses linear regression in multiple time frames to pick overssold/overbought conditions. His course is called Precision Trading.
Meanwhile, I'm continuing the fight to find some degree of tradeability and some repetitive patterns that could be relied on (beside just the opening fade) to make a living on the e-minis. Despite 3 years and thousands of hours of staring at every chart you could ever imagine, I haven't found them yet. And I may never. Though I will say that the opening fade is one of the few reliable triggers I have come across.
regards,
Ron/Florida
speddoch said:Does anybody have any info on 60 minute trader. As far as I can gather the method fades the DOW shortly after the open.
Thanks
In all sincerity, can your system really be traded throughout the day, or is it really only feasible for fading the open?
Just seems like snagging 6 or 7 points in the morning and calling it a day is just simply not enough to make a living trading. I realize the importance of trading small amounts and being humble - believe me. I've lost 15 thousand pounds trying to do it the other way. But on the other hand, what's the point of being a trader if you're at least not going to make a decent wage? In my view, the robustness of a system is evident by its repeatability. So mutiple trades with your system should be feasible. So again the question: true or not?
BTW, are you still trading your system?
I do know a few people who have purchased it and done well with the opening fade. But they are trading several contracts to make it worthwhile.
Also, there aren't many more trade opportunities after the opening, true>?
juanbyte said:rols
I think that a 5 second dunk will result in quite a few short trades.
Chris
rols said:Have you tried McVities? It's about 50/50...
BTW When I have attempted to scalp the YM for real (not on paper) I find the spread is the thing that knocks most of these systems into touch.
At least with the Rich Tea Minute Trader you get a nice cup of tea and a biscuit for your trouble. And it's free!
:cheesy: