MartinD
Registered: Dec 2003
Posts: 96 |
12-23-03 11:44 AM
Another word about this service. If you are placing any weight in this websites past performance reports, don't. They seem to operate similarly to some other services out there - the fine print tells you that they figure their P/L per trade on the largest favorable move from their signal. Example: A breakout occurs above their top resistance level and goes up 1 point before dropping 20 points the rest of the day. Result: Congratulations! You just made a one point profit! A monkey banging on a keyboard all day can have a near perfect trade record if that monkey is allowed to pick his exits in hindsight" which is what those monkeys are trying to slip by you in their past performance reports.
I quizzed SureFireThing about how they work out their profits, and whether I or any trader could duplicate them exactly when trading realtime, heres what they said:
quote:
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The Profit Potential for any given day using the Camarilla Calculator (original version) is determined as the distance between the HL4 and the high for the maximum breakout upwards, plus the distance between the LL4 and the low for the maximum breakout downwards, plus, if appropriate, the distance between the HL3 / LL3 and the day's close for those traders trading within the 'chop zone'. While it is unlikely you will catch either the exact high or low of the day, often intraday trading gives several trades within the L3 zone, so in our opinion, any overstatement on breakouts is balanced by understatement of internal L3 trades. Points for the day are multiplied by $250 to represent a single S&P contract.
Different traders with different trading profiles will achieve results which are different to the profit portential.
Regards
SFT
Support
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