John Carter - Hubert Senters - tradethemarkets.com SCAMS?

the strange thing is that was not a huge range day. it was not one-sided either. Up in the morning and then steady sell-off until EOD. was he trading ES?

what's TF?

 

Yeah he uses moving averages as support levels and when I was in the room only entered when all 7 that he uses were moving up or down so after the morninv rally he probably bought initially near the hod

Tf is Russell 2000

 

You make an excellent point.

 

John Carter with a 50 lot of ES 5 mins to the close:

http://www.tradethemarkets.com/public/Live_Trading_on_ES.cfm

Method or madness? You decide.

 

I don't like his use of 7 different indicator's but he defines his risk

 

The problem with a mean reversion strategy is sometimes the mean reverts to the price leaving you holding the bag.

 

Carter and Senters always define their risk. I'm told Hoffman never does because of his Martingale method. Stupid! Or maybe ego driven, still stupid for an experienced trader.

 

It looks like Rob's loss was on Thurs. Anybody know if he was around on Fri?

 

Madness? What do you mean? John Carter trades this particular trade all the time, closing the trade a few minutes before the 4:15pm futures close if his targeted levels aren't hit.

He has 2 points of risk, for a total risk of $5000. Last week he made over $45,000 in the live trading room, so 2 points on 50 contracts is not a big deal for him.

 

If the position was closed for margin violation, that meant it had to fall below $500 per contract if that specific broker permits day-trade margin... which might not apply to 800+ contracts but each broker can define risk as they please.

There is no such thing as exchange mandated intraday margin... just marked to market at each close. So if he was using day-trade margin on the entire position, 850 contracts x $500 = $425,000 remaining balance to force the liquidation.

Unless the broker limits day-trade margin to something greater than $500 per contract or limits the amount of contracts able to use day-trade margin, it looks like an initial balance of +/- $750k to start the day became +/- $400k to end.

Still more than enough firepower to make tons of money with... if trading with the market, not against it. Anyone who tries to martingale for long-term success always ends up in the same place as everyone else before & since: broken