Discussion in 'Trading' started by grande1, Apr 24, 2011.
Has anyone used or using David's methodology? He is involved with a company called PageTrader.
Perhaps you could explain a bit more ?
I think that's a relatively sophisticated scam, as these things go.
It isn't immediately apparent how it's fraudulent, but it can be worked out by looking very closely.
The PageTrader system recommends an entry at a set price "plus or minus two ticks". In the quoted results, the most optimal available entries are always assumed, which effectively exaggerates all the results by two ticks, which is curiously exactly what their alleged "profits" come to, on balance.
Example: if they recommend a buy limit order on the ES at a set price, and the price comes down to and bounces off a level two ticks higher than specified, they assume that you got in at their recommended price, and report that as a winning trade, which realisitically you wouldn't have taken. And if the trade you could easily have taken is stopped out, they also report a loss of two ticks less than it would really be.
By the time you allow for their alleged average profits of two ticks per trade, it's all random nonsense.
Overall, it appears that they're profitable, but they're not really. Beware.
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