Here are his morning calls for the last 2 weeks. July 25, 2003 Market to sell off today. CAUTION: Watch for possible Bear Ugly day to set up near the opening. July 24, 2003 Market to move higher today up into the 1:30-2:00est time frame. CAUTION: Prices expected to pull back later in the session if a rally occurs. July 23, 2003 Market expected to rally today! July 22, 2003 Market to attempt to rally today but we want to keep shorting the higher moves. July 21, 2003 Market to move higher today with later session pulling back off the highs. CAUTION: An early, large rally will reverse quickly. July 18, 2003 No Headline Call today due to Options Expiration. July 17, 2003 Market to rally today on a lower opening below 995.00. On a higher opening market expected to rally up through 1:30 est then possibly pull back in the later session. July 16, 2003 Market to continue to sell off today from an early attempt to rally. July 15, 2003 Market ready to sell off. CAUTION: Greenspan testimony today with the House Finance Committee. Market may create market whipsaw action. July 14, 2003 Market to push higher in the morning session today and then pull back later off the highs showing a weaker day overall.
On Thursday, it looks like he made a good call. On Friday, it was definitely not "bear ugly". Having a tough time understanding his system at first glance. Friday saw a definite reversal at the 977 ish support area and I can not sure if he instructed a buy at this level or not. It looks to me like he was suggesting a strong move down thru this level. This definitely did not happen.
He predicted a rally, but after an initial drop to a target number of 978.50. Looks like he was right on this day. There was a sell off at open and then down to 978.50 around 10:30, double top back down to 978 and then the rally. Depending on how and when you got long, it would have produced some points.
On the surface, Mohan seems to have a decent handle on the big money players. Maybe they are in his band
if you expect a 'bear ugly' and it absolutely refuse to follow the script then a strong reversal is call for.
I think the service is now priced at $295 annually, up some from when it was Day Trader's Action. Conservatively, that's 10 ES contracts including commish, slippage, etc. A pretty good ROI since he's looking to get his subscribers 8-10 contracts per day. The annual cost is what many services look to charge you for a month. It's about 8 round trips with a full service broker. He says repeatedly, if you're not clear on a setup, don't trade, if you have 20 years left to trade, you'll make is up on one of the next 4,000 days you're after it. The price is not in the cost of the service, it's in the time to study his methods and learning to interpret his brokerese lingo correctly. I found it hard at first and apparently others did also as the site remarks about the many offers to proofread and rewrite his copy, which is resisted as making it sterile, (my words.) If you're curious enough to read all the posts to this point, give him a try. He's got a 30 day money back guarantee. so what have you got to lose? I'm not an apologist or toady for this guy, don't play in his band or even know his last name, if he's got one, so you won't see any more posts on this thread from me. Good trading however you get your daily handles! OUT!
If I told you guys that it was going to be a down day but that it could be an up day if the market did'nt follow the script..........and then the next day when I did my review I pointed out that you should have bought and hope you all made the 8 handles on offer to followers of the system ?????**!!?? If there are beginners out there who feel comfortable with Mohan then sign up because the service is cheap and you will learn something but it's not for serious traders.
Seems to me a lot of wishful thinking is going on here. Like it's already suggested, why doesn't one of you guys subscribe to his trial and start posting trades based on his analysis. My take is that you'll find out pretty soon that guys like Mohan (Jeff of lowrisk.com is another one) are much better at slick writing than making money for you.
Guy's, his trading system is sophisticated and does require some thinking on your part to make it work. It's not just a case of going long or short based on his headline call. The headline call summarises what his 18 or so adapted indicators say. But the reality of the markets will always be different. You need to understand the trade set-ups. The hour one breakout/breakdowns, buy/sell pivots, value area triggers, etc There are some simple rules you need to follow that will guide you into validating whether a pivot is a sell or a buy depending on the evidence of the High 5 indicators. If you are serious about trading then you will get something from this system. But it will require some brain power on your part. No easy or lazy money.
Okay. All good points. I think Whamo is going to take charge here. I tend to agree in what I have read so far, he is rarely wrong when you read his summaries. Go figure. Every scenario is always covered in some way. I was drawn to this because I am a student of the market. Just a wee pup in this learning game. I have mostly traded in the now up to this point and will continue to do so. It does seem to me that the S&P Futures have a personality during the day. I do not confess to having an ability to understand it, (yet). Rarely is there a constant daily direction. Sometimes I ask myself why the hell it is doing what it is doing. I have to remind myself not to forget I am trading "FUTURES". In effect the market is moving based on interpretations of what the future will hold. So everybody races in one direction, second guesses what tommorrow might hold and races the other way. It's like the open. A good trader is probably done in the first half hour. Why the hell does it do what it does? Is it really about support and resistance? I have to admit, I do not have a good "handle" on where these real key points are. I realize I need to get better at understanding this. Also, the big money players? What is their agenda? Why are they buying or selling S&P futures? Are they the afternoon movers? If so, what are they going to do today and do they have enough power to make my buy signals go astray? I wish someone reliable (ET Member) would start a thread on key S&P support and resistance levels and explain them. Not just fibos and stuff. I think there is more. That's all I have to say about that.