You're better off taking random entries, targeting 2.5-4.0 for every 1 of risk (depending on volatility) and using a trailing stop. In fact, I think the EMTS entries are not that horrible, it's just the fact that you're scalping for small targets and using a risk/reward of 1-to-1 or worse that gets you in trouble over time. Just use good position sizing, good risk management, support/resistance and know when the best times to trade/not trade are and just about any entry can work.
trader9000
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David Marsh is selling snake oil and his system will never make money. Works off Bollinger Bands and MA crosses with VERY high risk to low reward.
STAY AWAY - he's full of it.
STAY AWAY - he's full of it.
Jerry Zimmier
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Absolutely amazing that a guy like this can still have his site up fishing for victims!
MiniDowTrader
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Viperspeedtraders has been reinvented as smartsignaltrading. Most of the new website has been lifted from the old site.
I just happened to stumble on the new site and couldn't shake that it sounded all so familiar. Sure enough, it's the same. Many of the same old indicators with a few new ones thrown in.
I've read some really good things and some really bad things about the operators. True or not? Do your own diligence.
I just happened to stumble on the new site and couldn't shake that it sounded all so familiar. Sure enough, it's the same. Many of the same old indicators with a few new ones thrown in.
I've read some really good things and some really bad things about the operators. True or not? Do your own diligence.
STAY away - lost my account on more than one occasion - He keeps selling more and more software/indicators. System doesn't work - if it did, why would he want to sell more?
you have been WARNED!!!!!!!
I am still in search of that elusive system/method that can consistently make decent money...
you have been WARNED!!!!!!!
I am still in search of that elusive system/method that can consistently make decent money...
Yes I'd like to weigh-in here as well. I have purchased both the original "Tick Trader" system and the new and supposedly improved "Power Trading System" (what used to be known as the "Advanced Course") ...in my opinion, both systems are garbage and a waste of money.
The original system incorporated 3 methods.....an EMA cross, a pullback entry, and a counter-trend setup. The system was basically 100% discretionary as at any given time 3 different traders using the same system could be long, short, or flat depending upon how they viewed the market- one guy could be long the pullback, another guy could be short the counter-trend, and a third guy could be flat waiting for the EMA cross.
...it drove me nuts. I tried to trade it for a few months on sim and consistently lost money week after week.
Foolishly in March 2013 I also invested in the "Advanced Course" (now known as the "Power Trading System" or PTS) on the assumption that it had all been my fault somehow....
My opinion??...save your money...please listen to me...SAVE YOUR MONEY.
The PTS consists of basically a filtered version of the original pullback trade plus one additional pullback/continuation type method. These are then added to the counter-trend setup to create a new system.
This new system has major flaws... for starters, the setup conditions for the pullbacks are far more stringent than the setup conditions for the counter-trend. So if you do it the way they teach, you're basically taking low-probability counter-trend trades all day long. During the March course, we watched David trade in sim for an hour or so and he ended the session down about $400 mostly from the counter-trends.
I do applaud him for trading in real time in front of an audience, but if the system creator himself is down over $400, what's that mean for you?As for the two pullback methods....they're junk in my view. The 1st is just the original method using a filter. It's funny because I had had the same idea myself for a filter when I was struggling to make the original course work...but I gave up on it because it didn't back-test well. Then along comes the crew at ETS pushing the same concept. I thought, "Wow...I must have not done enough back-testing." Well I can tell you, it STILL doesn't back-test well.
The second method (the so-called "Enhansed Pullback" or EPB) is almost unbelievably simplistic. Don't get me wrong, I know simple can be good as long as it works...but it DOESN'T work. Not consistently over time. Trust me...if I held a gun to your head and said "Invent a trading method, you have 20 minutes." you could come up with something at least as good as this (or bad, as it were.)
Bottom line, I ran the numbers on a back-test using just the 2 pullback methods for Jan 2013 thru April 2013 and it lost money on the ES.
Not to worry about the ES because they're big on trading "multiple markets" these days and the EPB supposedly works well on the NQ. Well, I wouldn't know because I refused to try it. The "system" they present for the NQ was actually developed by one of their students. Got it? ...NOT David Marsh, but one of his students. And it has all the trappings of a system developed by an amatuer...primarily a negative 3 to 1 risk/reward (you risk 15 ticks with a target of 5.) There's also a bunch of funny business about "let the first two setups go by so the market can settle down" and new ATM strategies that even David didn't know about when he was TEACHING the method to us.
Bottom line...SAVE YOUR MONEY. David seems like a nice guy but that doesn't mean you should pay him $2500 (or rather $3500...they just increased the cost) to learn this junk.
Hope this proves valuable to somebody,
ST