https://www.priceactionlab.com/Blog/all-in-one/ He provides: Two online books Premium Trader Education Premium Articles including weekly analysis reports Weekly Market Signals Premium Insights Price: $345 for three months (save 38%) You may register below. I am most interested in the Weekly Market Signals.
Why the interest? All 6 signal services drastically underperformed the S&P 500 last year Some strategies beat the S&P with less risk when backtested back to 1993. Yeah, hindsight definitely helps. Everyone's backtest beats buy-and-hold (including plenty of mine). And while I understand the necessity of disclaimers, his "Note that all strategies may fail in the future if market conditions change" seems to almost anticipate failure. I see nothing compelling, but maybe that's just cynical ol' me.
Thanks MKTrader....do you have proof of the dramatic underperformance ? I am especially interested in the weekly SPX forecast. This is the kind of feedback I was looking for.
In https://www.priceactionlab.com/Blog/2015/03/curve-fitting-and-optimization-2/, Michael Harris writes about different types of curve fitting for trading systems and how the system-generating software he sells generates systems with the lowest probability of failure. However, the reason his example is a "Type-III" system where parameters affect only exit signals is because of his definition of parameters (the "x" and "y" in his example). The sample system has characteristics that could be considered parameters including the choice of entry direction. the choice of using the close price (vs open, high, or low). the choice of using the price of today. the choice of using and price two days ago. the choice of using the greater than relationship. If the system generator gave these as choices to the user, they would be parameters. Michael Harris argues because Price Action Lab and not the trader chooses these, they are not parameters. So in my opinion, this argument falsely paints his system generator as better than others. So I would be cautious in acting on his advice.
I have attended numerous courses and subscribed to many trading services. Most of the trading coaches are BS hopeless traders and most of the signals are garbage signals provided by unsuccessful traders. I suggest you choose a trading coach where you can see his physical form, and he does live trading in front of you.
I just clicked on the "Weekly Signals" link and went here https://www.priceactionlab.com/Blog/weekly-signals/ You better be prepared to do more due diligence if you want to play this game. It's very hard to beat the markets and almost no system vendors do well in the long term.
Thanks for that MK. I see that his best strategy did not beat the buy and hold performance of the S&P 500 which was 30% in 2019.