Has anybody gone bought and through the training at eminitradingstrategies.com? I've been following them for a few months and they seem to provide good, 1st hour trading opportunities. The price is a little steep though and I wish they had a monthly subscription so I could try it out first. Has anybody gone through this? What were your thoughts?
I have been a member of eminitradingstrategies.com for a little over 2 months and am very pleased. From a support standpoint, I can't say enough about David Marsh and his team. They are very pleasant to work with and very responsive to questions and support issues.
As for the system itself, I believe it to be well worth the money. It's a moving average cross system with three entry setups: the normal system entry (NSE), the pull back, and the early entry technique (EET). All of these setups are high-probability trades, but the real power of the system comes from David's rules of when NOT to take a particular trade. I also recommend the chat room service as well as the "Pro Indicator" (indicators for all 3 setups in ninja).
David Marsh is clearly a very successful trader. I don't know him personally or his motives for selling his system, but I don't think it's because he needs the money (although I'm sure it doesn't hurt). Through personal experience and listening to how he interacts with other students in the audio chat room, I think he just really enjoys teaching. Helping others succeed seems to bring him pleasure. He's helped me; I have no doubt he could help you.
Bottom line, thumbs up here...
Bottom line, thumbs up here...
Thanks @cshep for the info, I appreciate your comments. What's his chat room like? Is it video, where you're watching his screen while you listen to him on audio? Or is it simply a text/IRC type of chat? I'm assuming the former.
He seems to produce pretty good results. I've implemented what I think is his "pullback trade" strategy myself in NinjaTrader, just based on what I've been able to glean from his the charts and videos he publishes, but I don't know his rules to filtering out bad trades which, as you said, is key to increasing win percentages. You can check it out in my trading journal.
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The chat room is a audio for the moderator only. So I can hear David discuss the market and the trades he's making. If I want to ask a question, I type a message which he replies audibly. He doesn't share his screen but he does call out the trades he's making. The point of the chat room is not so traders can merely copy the trades he's making, but to here his analysis of how he's applying the rules. This really serves to reinforce how to trade the system.
trader9000
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For those of you who are considering David Marsh and his Emini strategy, the following is my experience after about a year of being around his room and having studied/traded his technique. All of the following is simply my opinion and based on my experience having traded his technique in the emini market.
My general opinion: David's technique is an EXTREMELY aggressive technique that is not suited to my style of trading. I don't trade his technique any more as the $5,000 test account I allotted was ground down to $2,500 in 60 days using 1 contract in the test.
The test: I was looking for a new trading technique that limited my time at the screen and wanted a system that trades the 1st hour of the NY session. I allotted $5,000 to this experiment, trading 1 contract with the goal of reaching $7,500 over 6 months or less and a loss limit of $2,500 no matter the time frame. Before trading live I used a simulator account to get familiar with the mechanics of the system.
The outcome: reached $2,500 loss limit in less than 60 days, walked away from this technique and followed his trading room for the next 8 months to see if other traders were having the same issues.
The detail: on many days I would make my target and walk away, but on the days where the market opened choppy, Dave's system took HUGE losses that wiped out 3-4 days of profit. If the loosing days came 2 or 3 in a row, an entire week or two of profits were swept away. Dave has a trading room where he will call out his trades as he is taking them with entry and exit call outs. He also has a slew of training videos, all in support of training his students. He does not cherry pick trades, he seems to be honest about the pros and cons of his technique. Some of the traders in his trading room were making his system work. I did, however, notice that the vast majority of the folks participating in the room were having the same trouble with his system as I was.
Summary: I think the win to loss ratio is WAY too high at 1:4 (2-4 tick take profit to a 6-8 tick stop loss). There are many different entries that Dave himself calls out in his trading room and unless or until you get his style, the system is not as simple as his manual and videos let on. I noticed many students openly say they blew up there accounts and were using the simulator to get some experience before trading again. In the end I went back to S/R trading on a 2:1 (or better) win/loss ratio that has worked for me for years.
I would not recommend the technique for any trader.
My general opinion: David's technique is an EXTREMELY aggressive technique that is not suited to my style of trading. I don't trade his technique any more as the $5,000 test account I allotted was ground down to $2,500 in 60 days using 1 contract in the test.
The test: I was looking for a new trading technique that limited my time at the screen and wanted a system that trades the 1st hour of the NY session. I allotted $5,000 to this experiment, trading 1 contract with the goal of reaching $7,500 over 6 months or less and a loss limit of $2,500 no matter the time frame. Before trading live I used a simulator account to get familiar with the mechanics of the system.
The outcome: reached $2,500 loss limit in less than 60 days, walked away from this technique and followed his trading room for the next 8 months to see if other traders were having the same issues.
The detail: on many days I would make my target and walk away, but on the days where the market opened choppy, Dave's system took HUGE losses that wiped out 3-4 days of profit. If the loosing days came 2 or 3 in a row, an entire week or two of profits were swept away. Dave has a trading room where he will call out his trades as he is taking them with entry and exit call outs. He also has a slew of training videos, all in support of training his students. He does not cherry pick trades, he seems to be honest about the pros and cons of his technique. Some of the traders in his trading room were making his system work. I did, however, notice that the vast majority of the folks participating in the room were having the same trouble with his system as I was.
Summary: I think the win to loss ratio is WAY too high at 1:4 (2-4 tick take profit to a 6-8 tick stop loss). There are many different entries that Dave himself calls out in his trading room and unless or until you get his style, the system is not as simple as his manual and videos let on. I noticed many students openly say they blew up there accounts and were using the simulator to get some experience before trading again. In the end I went back to S/R trading on a 2:1 (or better) win/loss ratio that has worked for me for years.
I would not recommend the technique for any trader.
Try trading the gap
You should consider trading the opening gap. The guys at MasterTheGap have a good, probabilities-based technique that truly give you a statistical edge in gap trading. I've been trading with them for over 6 months now and it's my most profitable trading system/technique. I've come to the point of understanding gaps and tailoring their gap guide data to my own personality and risk tolerances and have automated my gap trading, so now I sleep through the open (I'm on the West Coast) while my software trades the gap for me. It requires patience though. For example, last month in May I only made 2 trades, but they were both winners. Most months you get 5-8 trades a month, but May was pretty crazy and the volatile whipsawing made it unfavorable for gap trading. People that want to trade every day or several times a day because they need the adrenaline rush will not like gap trading, unless they have other systems or trading plans that they follow that give them more signals. I have numerous examples of how I gap trade in my journal.
You should consider trading the opening gap. The guys at MasterTheGap have a good, probabilities-based technique that truly give you a statistical edge in gap trading. I've been trading with them for over 6 months now and it's my most profitable trading system/technique. I've come to the point of understanding gaps and tailoring their gap guide data to my own personality and risk tolerances and have automated my gap trading, so now I sleep through the open (I'm on the West Coast) while my software trades the gap for me. It requires patience though. For example, last month in May I only made 2 trades, but they were both winners. Most months you get 5-8 trades a month, but May was pretty crazy and the volatile whipsawing made it unfavorable for gap trading. People that want to trade every day or several times a day because they need the adrenaline rush will not like gap trading, unless they have other systems or trading plans that they follow that give them more signals. I have numerous examples of how I gap trade in my journal.
Dear Trader9000!
Would you send an email to [email protected] ?!
I'd have a question!
Thank you,
Drezick
Would you send an email to [email protected] ?!
I'd have a question!
Thank you,
Drezick
Stirf
Active member
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@ Shodson.
From what I read above it looks a lot like the set up of Rockwell Trading, or the Rockwell Trading Scam. My advice is to stay far, far away from those sellers of "winning" strategies. I must say, that I have no experience with eminitradingstrategies.com, but read the rest of my post and ask yourself: "would I sell my winning strategy over the internet"?
Where to start!
- Subscribe to forums like these and learn from others for FREE
- Browse the internet and look for information about technical indicators for FREE
- Browse the internet and look for information on the psychological/mental issues concerning day trading for FREE
- Bundle all that info and start to develop your own strategy. Trade it for at least 3 to 9 months in the SIM and be honest about your results! No use in putting in a trade in your log that was a winner but one you didn’t do. Same goes for leaving out losses. You’ll be the first victim of a trade log that isn’t in line with reality. And you know what, you only got yourself to blame!
You might have noticed that I stressed the word FREE. Avoid the sellers of courses and winning strategies on the internet. When coming across one, and that is not too hard ask yourself this question: if I had a winning strategy, would I sell it? Would I go through the hassle of putting up a website, produce thousands of courses on DVD, set up a complete sales organisation, hire staff, etc? Wouldn’t I rather just sit behind my PC with a cup of coffee, make money and enjoy the freedom this job gives me?
To give you an example, here is how I got fooled: http://www.targetwns.nl/index.php?w...ll&id=1288362795&archive=&start_from=&ucat=11
I trust this helps:smart:.
Cheers,
Frits
From what I read above it looks a lot like the set up of Rockwell Trading, or the Rockwell Trading Scam
. My advice is to stay far, far away from those sellers of "winning" strategies. I must say, that I have no experience with eminitradingstrategies.com, but read the rest of my post and ask yourself: "would I sell my winning strategy over the internet"?Where to start!
- Subscribe to forums like these and learn from others for FREE
- Browse the internet and look for information about technical indicators for FREE
- Browse the internet and look for information on the psychological/mental issues concerning day trading for FREE
- Bundle all that info and start to develop your own strategy. Trade it for at least 3 to 9 months in the SIM and be honest about your results! No use in putting in a trade in your log that was a winner but one you didn’t do. Same goes for leaving out losses. You’ll be the first victim of a trade log that isn’t in line with reality. And you know what, you only got yourself to blame
!You might have noticed that I stressed the word FREE. Avoid the sellers of courses and winning strategies on the internet. When coming across one, and that is not too hard ask yourself this question: if I had a winning strategy, would I sell it? Would I go through the hassle of putting up a website, produce thousands of courses on DVD, set up a complete sales organisation, hire staff, etc? Wouldn’t I rather just sit behind my PC with a cup of coffee, make money and enjoy the freedom this job gives me?
To give you an example, here is how I got fooled: http://www.targetwns.nl/index.php?w...ll&id=1288362795&archive=&start_from=&ucat=11
I trust this helps:smart:.
Cheers,
Frits
