Do any of you know of this guy John Carter? He has a website http://www.tradethemarkets.com/. This isn't spam, you guys know me. I was reading an article he had written on CBOT's website http://www.cbot.com/cbot/pub/cont_detail/0,3206,929+14719,00.html titled "Opening Gap & CBOT mini-sized Dow: First & Best Trade of the Day" and it sounded pretty good. Just wondering if anyone has any experiences with him and his group. Thx. BTW, CBOT has some good educational articles on their site http://www.cbot.com/cbot/pub/page/0,3181,1070,00.html
I've read his book Mastering the Trade, which came out at the end of 2005. At first I wasn't very impressed, skimmed it, then put it aside. Recently, I came back to it, and found that he does seem to have some straightforward, logical ideas, which seem worthy of further research.
Yeah, I was checking out his book at Amazon. Looked interesting. One guy pointed out though that of all the people that gave it 5 stars, for most all of them it was their first review of a book at Amazon. So that seemed maybe a bit bogus. LOL But maybe I'll check it out. It did look interesting. Thx guys.
Carter is definitely not bogus and any trader who reads his book will relate to many of his experiences.
He's not bogus but if you follow his rules , especially his tick extreme trades you will fail...they are constantly adjusting the levels so do your own research...he is a big time vendor also and gives seminars and sells software with his buddy Hubbert...they have expanded into different markets to attract more sales....the best chapter in the book is the one about trading plans.......the gap trades need additional filters too but the book has a few good ideas...sign up for there "free - but I really want to sell you on a seminar emails"...they usually arrive on days they do well and none show up when they take a beating...the book is the best they have...forget bricks and all that other indicator garbage.....learn how to use internals on your own as there ideas change too much...
I found some of the high level, general knowledge in the book slightly useful, but all of the detailed information on setups and such was pretty useless I thought. The market profile section was really poorly written too. Made Jack Hershey seem like a communication wizard. Most/all of their indicators, as far as I can tell, were originally posted by different people on the tradestation file library forums. They are still there if you dig around for them, so don't pay their ridiculous prices for their non-original material.
I read from the Tradestation forums that they took all the indicators such as Squeeze (became Hubert's Squeeze) and sell them for $300. BTW, I've gotten some trend indicators and market profile stuff from the tradestation forum for free (because there are still some good people on Earth) and would sell them for $100.
Swing trading various futures markets and retail forex is how John tries to make his money. You can check out his annual results tabulated in month-by-month format to evaluate his performance. RoughTrader