eminidaytrader.com - anyone ever use it?

Discussion in 'Educational Resources' started by sandygray66, Jun 5, 2008.

  1. 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 . . .

     
    #51     Jan 28, 2009
  2. 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 . . .
     
    #52     Jan 28, 2009
  3. For all those who e-mailed me. Yes, we will be closed on Superbowl Sunday.. lol

    Caj

     
    #53     Jan 29, 2009
  4. 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.
     
    #54     Jan 29, 2009
  5. Will you be serving Alex his ceremonial kielbasa and boiled potatoes with your butler uniform on? Isn't that what Alex demands of his 50-50 partner?
     
    #55     Jan 29, 2009
  6. Insearch I am considering the EMDT program. Thanks for posting your results.

    What did Justin and Dave say when you asked them about the discrpencies? What did they say about you losing money when supposedly they were making money?
     
    #56     Feb 2, 2009
  7. juve

    juve

    I've been watching this guys free videos for a few months and was thinking about purchasing this week-end.

    Now what you've had to say about it isn't to positive.

    In that video they send out it's always a 1 mintue chart. I don't trade of a 1 minute chart but just looking at a 1 mintue chart it seem hard to have only 1.5pt's of risk every trade.

    What does look interesting about that 1 mintue chart is the areas that it shows you to LOOK for trades.

    Have you ever thought about just using it for areas to look for trades instead of sweating the ticks. You will never be able to replicate another guys trades to the tick.

    Like I said the I don't have it yet but just looking at the video of the 1 mintue the areas look powerfull.

    Anythoughts?
     
    #57     Feb 15, 2009
  8. juve

    juve

    This scares me a little....what do you mean by this?

    Like are you saying in real-time those pink and green areas that pop up on the chart are different the guys when he does the videos?
     
    #58     Feb 15, 2009
  9. Let's try that again:

    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.
     
    #59     Feb 19, 2009
  10. I subscribed to this service last July through October. I'll try to provide the good and bad points as I saw it.

    First, I'm very interested in market profile. That's what ultimately led me to these guys. MP is a terrific tool, but challenging for newbies. I was looking for help in using the tool to develop a trading plan. In hindsight they use elements of MP, but it's not really MP. Not worth expanding on this now but worth noting.

    Positives: These guys are legit and not scammers. I corresponded alot with both Dave and Justin as I was learning their trading plan. Dave is an experienced and knowledgeable trader. I never saw brokerage statements, so I don't know if he was profitable (I think this is important and wished I had asked this before I paid for their program). They are very responsive to questions and patient with newbies. The learning materials are all on their website, well organized and the content is very good. The trading plan is well defined, but does take a significant time investment to learn (as any trading plan should).

    Negatives: My biggest concern, and what became clear early on, was the money mgmt system they use yields an inverted risk/reward ratio. You have to have a win/loss ratio above 70% to survive.
    The $200/mo software fee was a big negative. Shame on me for not factoring that into my decision with more weight. I don't want to be slave to proprietary software - worse software that I can't own. The software is good, but not revolutionary by any measure.
    Finally, their system didn't work well last Oct/Nov during the period of extremely hi volatility. It simply didn't generate trade set-ups.

    I don't use their system - stopped last November. An expensive lesson for me, but in my case the right call. Hope this helps and best of luck.
     
    #60     Feb 24, 2009