Good week for the strategy. Today had a single losing trade of $210 and the net gain for the week (after commissions) is $1,080. This is based on trading 2 contracts on the ER2 and using a 1 point stop. A total of 7 trades executed this week. Spreasheet of trades and notes just updated.
Forward testing of this strategy ends now. Spreasheet updated. [/B][/QUOTE] I ran the strategy for 3 months. July's profit was $330. I believe that this has great potential and will be devoting more time to improving filters based off these levels and also better money management. I will also try and do some statistical sampling of where the market moves etc. after one of these levels have been hit. If time permits, I'll post more info here...
What a great front for an old con like Guy Ellis to sell his snake oil under the auspices of DeltaT1. Create a forum (mypivots) for traders to make yourself look legitimate! This is a stinker with all the earmarks of a con: 1) The indicator packages don't work. Never have, never will. In fact, they performed so poorly that the daily results stopped being published in 2004. They are the same old tire worn indicators that you get for free when you subscribe to TradeStation or eSignal. The same old wine in a brand new bottle. 2) Anytime one of the forum members questions the value of the indicators, or Guy Ellis' wisdom or judgment those posts are deleted and the member gets locked out of the forum. So the only people posting are friends and "yes men" to Ellis. 3) The forum reeks from the stench of get-rich-quick scam vendors (none of which will provide trading statements) who advertise all over the forum. The irony is Ellis claims to combat the very types of scammers that he gladly collects advertising dollars from, so we know where his true interests lie. That's right, in his wallet, not yours. 4) He has shills post in the forum and then surprisingly "catches" them and alerts his members to stay away from them to gain respect and credibility for his scam-busting prowess. This is one of the oldest tricks in the conman book. 4) There was a rumour circulating that Ellis was running a futures advisory bucket shop in Washington and got nabbed by the regulators who asked the Dept. of Immigration to deport him back to his native country South Africa where he now lives far away from the scam cops who lack jurisdiction. Bottom line: Stay away from this forum and whatever you do, don't send any money for these worthless indicators.