I've been one of the biggest critics of RC-Trader. But my main criticisms were his not posting all of this trades (good and bad) on this website. But he does post them at his website, so that point is not really valid. After I got past that non-issue, I decided to do a through analysis of his trade results (since inception of posting), with the following results (please see attached file). For all the critics, it is a valid system which has the ability to produce outstanding results and can be an invaluable resource for newbie traders (when it gets on a roll, the system produces very good results indeed). As the chart also demonstrates, if you can produce a result of 2.00 pts ES, per day, for an average of 16 days per month (yes, I know there are normally 20 trading days - give or take) you will be able to pretty much match these results. Just remember you have to make your 2 pts of profit every day for 16 days per month (easier said than done and the mark of a true professional). Using past history (which just gives you, the trader, an idea of the potential results) the trading system has generated a "best-case-scenario" of 19 consecutive winning trades (trades with profits of $0.00 or more) for a sum total of $2,925.00 per ES contract and a "worst-case-scenario" of 3 consecutive losing trades (trades with profits of less than $0.00) in a row for a total $(900.00) per ES contract. I would take this to mean that the trader should have at least $4,000 per contract in margin to deal with the potential drawdown, you can feel free to use your own interpretation. In the final analysis, is the Chat Room worth it at $500 or $1,000 per month? If you don't have a lot of experience and $10,000-$40,000 you want to put to work, it's a bargain (because it saves you a rather grueling learning curve - which many traders never survive). If do you have a lot of experience and are working with $2,000 per contract ES (or less) and currently have a profitable system, probably not. Would I pay good money for it? - honestly, yes, if I had the money to burn ... to satisfy my curiosity about a system which is apparently neither TREND nor COUNTER-TREND trading. As with all trading systems, you should PAPER TRADE it for AT LEAST 3 Months (something to do with the learning curve) before putting your money to work in it. Best Regards to Everyone, Jimmy Note: All of the above commentary and the enclosed charts are presupposing that the information posted on the RC-TRader Chatroom website is both the most up-to-date and accurate information, and includes all trades taken.
Hello Everyone, I'm writing to apologize for a typo in the previous post, (you can only edit a post [for up to] 60 minutes after posting, or else you have to contact an administrator) and to amend my commentary on my analysis of RC Traders Performance Averages. I'm also including the source data that I used to put together the analysis for the previous post (rc_trader_printout.xls). My process was to make a simple (non-relational) database, export it to MS Access, and run queries on the data (of which the "printout.xls" is the end result). While the Averages in the printout spreadsheet say the RC Trader methodology generates an average of 22.40 pts ES per Month, I figured that number would only be valid over a very large dataset (1,000, 10,000, 1000,000 trades, etc.), which is why I said it would take 16 trades at 2.00 pts ES per Month to match RC Traders performance (32.00 pts), not 11 trades at 2.00 pts ES per Month (22.00 pts). I wanted to be able to compensate for the home runs the RC Trader system can generate (best average trade of 10.42 pts ES), so this is an understandable error. In reality, my analysis of the data was spot on correct with only about 160 trades of data to work with. The RC Trader methodology is currently averaging 21.85 pts ES per Month (you can just add the numbers up for yourself based on the monthly data posted by RC Trader at this website and divided by the number of months posted: 12,015.25/11=1,092.30 or 21.85 pts ES per Month). This info foots perfectly with my analysis, and actually, adds credence to his performance (system verified by independent analysis). So I am amending my previously posted commentary to say that you need a net of 11 trades at 2.00 ES per Month (after commissions) to equal RC Trader's performance (which is exactly what the printout.xls shows). Everything else that I wrote stands "as is", I still think itâs a very good system performance and takes a lot of skill (and experience) to match month-in-and-month out. P.S. - I've done all this work to increase my own understanding of what it takes to be a successful trader (something about a pot'o gold at the end of a rainbow ...), and I'm posting it to share the info with all the other readers. Good Skill and Good Trading, Jimmy
This is from rc-traders web page. So am I to assume these results you post are hypothetical or were they actually traded in your account?
Hey trdr25 "... So am I to assume these results you post are hypothetical or were they actually traded in your account?" ... Did you actually read the postings? If you re-read the postings you will see that analysis I performed was on RC Traders' posted results, both monthly and daily, not mine. I say that in my posting. The correctness of the analysis is based on the truthfulness of RC Traders posted results, I believe his postings are his honest results, but if they are not, there's nothing I can do about it. I say that in my posting. ... and last but not least, I mention that there is potential for a substantial drawdown when trading this methodology, and recommend that anyone who trades it work with $4,000 or more worth of margin per contract. Cheers! Jimmy
Thanks JJ for your reply but my question was actually directed to the author of this thread who claims the performance posted on his web site.
E-mini S&P500 Futures DayTrading Oct 20 Big win 13.50pt I will win today too. ha,ha,ha RC Traders Chat Room http://www.rc-traders.com
Hi see: http://www.futurestruth.com/topten.htm We are still No.1 in SP trading system. I have to stop this advetisement at end of this month. This month , my chat room also has positive return. I can win in SP, it is very easy for me. $1000, chat room cost is expensive. but I know, My service is better than other. beucase I can win. off cource, A trader that trade 1-2 ES, my chat room is too expensive for him. he should not join. but if you trade 20-50 ES, my chat room is quite reasonable price. thank you.
New RC system RC Conservative It is most conservative and attempt to profit from choppy market conditions. RC Traders Chat Room http://www.rc-traders.com
A snapshot analysis of RC Conservative shows that it makes a mean average of 2.75 pts ES per trade. That's not bad provided you don't have high commission fees (anything over $8 or $10 bucks per trade and you're going to feel the pain). The bright spot about using a conservative methodology is that of course, you don't need as much margin (if it trades like I think it trades, $2,000 or so per e-mini contract should suffice). This means you can build contracts much faster, and you have the pleasure of hearing the cash register ring much quicker! It looks like a worthy alternative to RC Success for traders who don't like to suffer through the roller coaster drawdowns (even though both systems will probably generate equal results on a quarterly basis). Another option (pun intended) for someone considering RC Success is to utilize the methodology, but to trade S&P or OEX Options instead of S&P Futures. This way you would at least have some time to re-coup your paper losses by holding the options over-night or for several days if the position is not "in profit" by the end of the trading session (something NOT to be done with S&P Futures unless you're VERY EXPERIENCED!). I actually know a trader who trades like this, that's why I mention it (he doesn't like the short-term action of the e-mini futures, and knows that market action tends to be parabolic, though don't quote me on it). Best Regards All, Jimmy