Anyone ever try John Carter's (Mastering the Trade) strategies?

Discussion in 'Strategy Development' started by TraderGreg, Jul 5, 2008.

  1. I'm talking about the strategies he describes in his book, Mastering the Trade.

    So far, I've been testing the pivot points and the HOLP and LOHP strategies. So far, I'm not impressed with the pivot points (even after 60 trades).

    The HOLP (enter after crossing high of low period) and LOHP (opposite) I tested with the NASDAQ at a random time a couple years back. Granted the NASDAQ was trending strongly, but 16 trades showed an average of a 1.07% LOSS per trade, and the next trade (which I added in for possible error because it showed a 4% gain) brought that average down to barely under a 1% average loss.

    I'm also going to try one or two other swing trading strategies, such as the "squeeze" and EMA deal, but just scanning charts they (of course) look a lot less clean than his examples.

    Has anyone turned up anything positive and/or have live traded any of his strategies?
  2. cvds16


    I have tried to make the stuff in that book work in many different ways, I simply couldn't do it ... the book is a waste of time and money IMO in regards to trading strategies
  3. John Carter = TOOL
  4. A trader would quickly go broke following his methods
  5. Pivot points and other vague stuff - this is the same as going out to hunt with a shotgun when you should be using a lens rifle.:D

  6. Almost right ... FOOL
  7. This seems to be about what I'm going through. I've tried manipulating and improving the daily pivots in a few ways (they do seem to hold some value), but every time I do I know I'm just changing it to be profitable when in reality any changes I make apply to that situation only.

    Thanks for all your replies. Has anyone had any success at all?
  8. sure sounded like a nice fella..... tried his newsletters and spent 2 months in his live trading room (this was a few years ago when i was stupid enough to think other people can show you how to make money) tried all of his indicators....... including the famed squeeze indicator .......ouchy!....... it squeezed a few grand outta me
  9. Yes, John and Hubert seem to be doing well.
  10. hayman


    The book was an easy read, with lots of good examples. However, I could never get any of his stuff to work via backtesting or live simualted trading. I then read his book a 2nd time more thoroughly and found many flaws and contradictions. I Emailed him many times for clarifications, and never heard from him.

    Rumor has it he makes his money from his online chatroom, and that feeds his trading habit.

    BTW, as an aside, he was on some syndicated financial show recently, and he said that we will have a 3-5 week bounce in the market, and then he expects to see a line straight down to DOW 10,000.

    I do happen to agree with him on the latter point.
    #10     Jul 5, 2008