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Insearch
Registered: Oct 2008
Posts: 237 |
01-29-09 03:32 AM
Also be carefull, they require a $200/month subscription that covers the software they provide through NT. That software provides "signals" from which trades are executed according to their system. The charts (and signals) they provide at the end of day as part of their "recap" are often NOT the same as those you get real time
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sandygray66
Registered: Aug 2005
Posts: 765 |
01-29-09 03:33 AM
Sorry to hear of your struggles Insearch. Unfortunately, I'm not surprised (I never signed up with them).
It seems to be a common scam to show results based on limit entry and exit orders, and we all know in trading the ES you basically must of price trade through your limit price on both exit and entry in order to get fills. When using a small profit target like they do (+.75 and +1.5), missing a few entries or exits totally destroys the reported results.
Every losing trade will always fill, but a certain percentage of reported winners will either not fill on entry or not fill on exit. And missing a relatively small percentage of the winners will easily make this kind of trading method a loser.
P.S. Thanks for sharing the results of your experience so others can learn from it!!
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Insearch
Registered: Oct 2008
Posts: 237 |
01-29-09 03:39 AM
Thx. for your comment, I really appreciate it. Glad to know that I'm not just hallucinating . . .
If someone is considering them, I seriously would question whether their results are actual and whether their "results" page is real, and if possible record the converstion . . . let them know of course that the conversation is being recorded . . .
Quote from sandygray66:
Sorry to hear of your struggles Insearch. Unfortunately, I'm not surprised (I never signed up with them).
It seems to be a common scam to show results based on limit entry and exit orders, and we all know in trading the ES you basically must of price trade through your limit price on both exit and entry in order to get fills. When using a small profit target like they do (+.75 and +1.5), missing a few entries or exits totally destroys the reported results.
Every losing trade will always fill, but a certain percentage of reported winners will either not fill on entry or not fill on exit. And missing a relatively small percentage of the winners will easily make this kind of trading method a loser.
P.S. Thanks for sharing the results of your experience so others can learn from it!!
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Insearch
Registered: Oct 2008
Posts: 237 |
01-29-09 03:56 AM
One more point .. .
they often display their success as a "% of winning & b/e trades" vs "total trades" on a # of trades basis. First off, b/e trades don't get you anything apart from contract charges . . . they should be excluded from this calc, infact it should be counted as a deduction!
Also, there are many trades that are very borderline and could easily be a b/e vs a displayed profit trade or a losing trade displayed as a b/e trade. This makes a huge difference to what they show as a % success rate (usually "advertised" around 80%), not only on a # of trades basis but more importantly on a $ basis . . .
Be ware, especially the newbs . . .
I'll try and post regularly the things that I don't buy about EMDT . . . until my subscription expires . . .
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Spectra
Registered: Jan 2007
Posts: 2220 |
01-29-09 02:52 PM
For all those who e-mailed me. Yes, we will be closed on Superbowl Sunday.. lol
Caj
Quote from Spectra:
I began a dialog with Dave and we have been exchanging trading ideas.
The basis of Dave's research is sound. It is too early for me to tell how discretionary one must be to work with the software.
I will keep anyone posted if they are interested.
Successfully,
Alex L. Wasilewski
Co-Founder & Head Trader
Trades That Work
www.puretick.com
1-877-GOLONG1 (1-877-465-6641)
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TraderZones
Registered: Mar 2008
Posts: 6707 |
01-29-09 08:16 PM
Well, let us look at their claimed results.
In December 2008, they claim $4200 profit on 4 contracts. So that is $1050 on 1 contract.
I counted 87 trades during December. That is therefore ($1050/87) or $12 profit per 1 contract trade. And this is ASSUMING their track record is not inflated.
Throw in commission, slippage, cost of system, your time spent watching it. You will be lucky just to break even.
Therefore, nothing interesting here.
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