TradingMarkets.com

[charles_parker]

This website features short term strategies mostly for equities and ETFs created by Larry Connors. They also sell books, courses, and services.

The primary strategy is to buy pullbacks in rising markets and sell tops in falling markets. His systems involve various entry strategies where you buy into falling markets and sell into rising markets. He also has exit strategies mostly time or profit based.

What's missing seems to be a way to protect yourself from markets that just keep moving against you grinding down your equity. He has research showing stop loss orders cost you money; thus, he never suggests them or any other technique.

Does anyone have experience with his tools? How are you protecting yourself? Does Connors discuss this somewhere, and I missed it?

Thanx - Charlie

 

[Blaiserboy]

Dave Steckler is an accomplished trader and he is most familiar with Larry Connors methods. He has articles on TradingMarkets.com

You can have a look at hi site and blog to see if your question is answered... or you can send him an email to ask for assistance

You will see that many of his blog articles refer to Larry Connors methods.


http://www.etfroundup.com/

 

[jwhtrades]

I'm taking a 7 day free trial of The Machine which is TradingMarkets system. It has a bit of a learning curve and I'm not sure I want to trade with a "black box system" after spending the past 8 months up to 15 hours a day reading, taking courses, etc. The old "teach a man to fish" vs. feed a man a fish philosophy. I have read several of his ebooks on the "buying weakness, selling strength" and am manually back testing using trade navigator replay. I'll post my thoughts after I've made some progress. On the surface his theories seem to have some merit and I appreciate the exhaustive computer backtesting that he publishes.

John

 

[JohnHL]

I'm taking a 7 day free trial of The Machine which is TradingMarkets system. It has a bit of a learning curve and I'm not sure I want to trade with a "black box system" after spending the past 8 months up to 15 hours a day reading, taking courses, etc. The old "teach a man to fish" vs. feed a man a fish philosophy. I have read several of his ebooks on the "buying weakness, selling strength" and am manually back testing using trade navigator replay. I'll post my thoughts after I've made some progress. On the surface his theories seem to have some merit and I appreciate the exhaustive computer backtesting that he publishes.

John

How did it work out for you?
I read his co-authored "Short Term Trading Strategies That Work", and was impressed by the extensive amount of testing they seem to have done on their strategies.

 

[safvan]

I took all their plans including chairman club membership back when I was a newbie. Lost money. The concept of waiting on RSI 2 and then without stop loss.

Back then when I was losing money I did not know what was causing this. Their methods work in a confirmed uptrend or a downtrend markets.

Nothing is particularly wrong with the system other than that

1. You need confirmed profit targets and TAKE them when you have it.
2. The entries are based on extreme weakness or strength which I believe is VERY VERY dangerous if you do not know what you are doing because it can go either way without stopping.
3. No stop losses.

In any case its not a flop method but I have learnt a bit. I refined my own strategy now.

Eventually every trader must do this.

Newbie traders should not use black box unless they understand the concepts behind it. I did not understand the concepts back then and hence lost money.

They are a commercial enterprise and will sell you stuff to generate revenue.

If you are serious about trading better learn and practice on your own.

There are no short cuts to this. If you are decent at making money 99% chances are that you have formed your own method (which may be a combination of a few) and are following it diligently.

 

[jwhtrades]

Never really got into it. I'm trading futures now in Sim, learning Market Profile and Volume Profile. Find it much more interesting and potentially more lucrative. Lots of work, as I spend 10 hours a day studying, trading and taking courses. Best of luck with your trading.

jwhtrades

 

[Albert Carey]

Strategies without well-defined targets to take profit and stop-loss to get out are very dangerous when backtested they always show spectacular performance. This is why I like the trading methods of Michael Harris and his Price Action Lab software. Also, for position trading his ETF analysis provides enough hints for market timing although it is not as precise and quantitative as his software.

Every time I made the mistake and I first entered a trade without knowing in advance my precise exit prices I lost money.

 

[JohnHL]

Never really got into it. I'm trading futures now in Sim, learning Market Profile and Volume Profile. Find it much more interesting and potentially more lucrative. Lots of work, as I spend 10 hours a day studying, trading and taking courses. Best of luck with your trading.

jwhtrades

Thanks for your response, Jwhtrades. And thanks, Safvan & Albert Carey for your excellent comments and observations.
Interesting that you are taking the market profile & market volume routes. I wish you every success with that.

John

 

[vimal1]

I took all their plans including chairman club membership back when I was a newbie. Lost money. The concept of waiting on RSI 2 and then without stop loss.

Back then when I was losing money I did not know what was causing this. Their methods work in a confirmed uptrend or a downtrend markets.

Nothing is particularly wrong with the system other than that

1. You need confirmed profit targets and TAKE them when you have it.
2. The entries are based on extreme weakness or strength which I believe is VERY VERY dangerous if you do not know what you are doing because it can go either way without stopping.
3. No stop losses.

In any case its not a flop method but I have learnt a bit. I refined my own strategy now.

Eventually every trader must do this.

Newbie traders should not use black box unless they understand the concepts behind it. I did not understand the concepts back then and hence lost money.

They are a commercial enterprise and will sell you stuff to generate revenue.

If you are serious about trading better learn and practice on your own.

There are no short cuts to this. If you are decent at making money 99% chances are that you have formed your own method (which may be a combination of a few) and are following it diligently.

Agree with you totally. I also subscribed to their services a few years ago and then more so recently as part of "The Alpha Club" as they call it. Don't waste your money on their courses. They teach you stuff you could learn by buying a £10 book on Trading Psychology and investing sensibly/building a portfolio and yes their overall strategies are ones that buy extreme weakness and don't have a stop. They "promoted" a raft of strategies as part of their "Alpha Club" recently on the VIX. Most if not all of them are completely degrading in terms of returns. They are now trying to promote some of their own indicators which i have had coded into a strategy and they don't work well at all. Thats my opinion. Shy away from them and save your $4k or so which is what the Alpha club cost