That's an interesting link and thanks for posting it. It looks like they were trying to short the early pop and then trying to buy the downtrend last friday (3/14/08) and totally got their asses handed to them. But at least they are honest enough to post their stats, and this information is in-line with the previous posters statements. Good trading.
A lot of these guys just don't know any better. I find in this business water seeks its own level. If you're cut-out to be a success in it, you will be ... and if you don't have the chops, well, you're going to end up in somebody's chat room. But hey, there's a place under the sun for everyone.
Yes, you are right. Someone has to be available to pick up my trash every Thursday, after all. (Nothing wrong with that, BTW. Just an example. I respect anyone who legitimately works for a living).
I see only one day of drawdown last week. Friday looks like they knocked the cover off the ball in a trading marathon.
<i>"I see only one day of drawdown last week. Friday looks like they knocked the cover off the ball in a trading marathon."</i> At risk of missing the answer to this question by not reading the entire thread... why are all numbers derived from trading 32 ES contracts per turn? Is there some complex trade management strategy which demands multiples of 8 ~ 32 contracts per turn? +$1,650 per single ES contract is fine work in any session. -$1,350 per contract two days prior is washed by that one. +2.975 points average daily profit per ES contract +$1,487.50 Gross Profit for March (current) per ES contract 143 trades round-trip turned $1,487.50 ~ 143 = $10.40 gross profit per contract before trade costs Appears to be reversal trading in nature... buying down and selling up, anticipating the turns. Looks like standard emini scalping results to me.
What I don't particularily like is the big drawdowns. The risk reward appears to be less than 1:1 by a wide margin. Also appears as though there is a concerted effort to avoid getting in a position to possibly make good on the money back guarantee. Why else would they trade so frenetically after taking those early a.m. losses? I for one could never trade in that fashion even if I had the skillset (which I don't). Way to stressful for me I don't consider the trading style scalping, however. In fact, based on Friday's market action any winning trade could quickly turn into a loser, so nothing wrong with taking a point or two on each trade. Scalping, to me, is about taking a few ticks. I wonder if the members trade along with moderator(s)?
I'll probably just spend two to three days in the room, I'm not planning to buy this or any other course at the moment. Just want to see if the calls are timely and in accordance with the published performance table. Obviously, this still doesn't answer whether this methodology can be learned and applied by others profitably. It annoys me that people come on ET and bash courses, trading methods and chat rooms without giving any proof. People who report anything positive about the above have to show account statements or are otherwise accused of lying or shilling, while those making accusations, in contrary, usually never even bother to back up their claims.