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You mentioned 100 - 150/contract on ZN so say 6 - 10 tick stop loss?
and if you are saying 3 - 600 .. thats a lot of ticks but since u add to them u get it right?
So when u first enter? how many ticks are u looking for a profitable trade? IF
a) reversal
b) Continuation
and when u add - are u reducing your proifit targets? like initial 4 tickcs but with larger size.. it will be only 2 more ticks?
and what about any automated BE - do u move your stop?
I'll give the 1st one 4-6 ticks of wiggle room then it has to turn back or I get out, if it looks like it's holding I'll add 1 more, so I need 2-3 ticks to get b/e, then I'll add a stop on both just below where I'm at, when it gets to b/e I'll double and split the stop, and keep raising it and take what I can get. Usually I'll trade 4,6 or 8 this way, but start with 1 as a canary in the coal mine. make sense? The total risk is 5-6 ticks on the 1st one and maybe 1-2 ticks on the second, so in that $150 range. Profit targets are not set, I like to take some early which serves as padding for the rest of the trade, if you know what I mean. I watch ES and ZN charts side by side and usually enter ZN when ZN doesn't confirm the move in ES, and order flow flashes green for me
Sometimes, I just free trade them, in periods of lower volatility, which I much prefer because every stop is a liquidity target for someone else
I just wanted to add, that in his videos he is using 500 volume charts on ZN, maybe he uses something else as well but he doesnt show that. What I dont understand is, how you can glean anything from a 500 volume chart at ZN when each tick has 2-3000 volume in resting orders in it? This screenshot of a CTS DOM with ZN is in premarket! watch a T&S on ZN, it trades in bursts of 600 lots maybe 10-20 at a time when it makes a move. How can you see whats coming on a 500 volume chart when each trade is more than that, very often? I don't get it
I've yet to watch the video but I think by 'hidden orders' you actually mean iceberg orders.
You don't need expensive software to spot an iceberg order. Any trading platform with a decent Depth of Market visualization can show that. Then it's a matter of skill/screen time to be able to spot that.
I am interested in his software, but have sent 3 emails already and no response what so ever. There is no phone number on his site, which is fine but at least answer emails.
I have read all of the reviews on this thread, and it seems to me that he is not that interested in doing any new business, and maybe he already has a bunch of clients who are paying the $250 per month on a regular basis, and does not want anymore.
Unless he is on holidays this week and runs a one man show, which might be a good excuse, I am not very impressed with the lack of response to my emails, so not a very good start.
I had a three month membership at the end of 2014 for tradingthetape.com with Scott something or other who is the owner.
I didn't renew after my three months were up. I wasn't satisfied with my experience which was this:
This appealed to me due to the order flow tape automation for entering and exiting orders. The buttons and integration are nice but ultimately I didn't see a statistical edge using his software nor its methods. I entered the room every day where the other traders were actively trading, mostly sim. I also attended virtually every training of any kind he had.
During the time I was there he was constantly "tweaking" his software and methods but I could never get them into a system that was predictable to any degree at all. He claims to limit to one tick of risk on the ZN but my experience was that it was theoretical as I would consistently get stopped out immediately due to one tick of risk as a one tick stop, which of course makes sense. We were constantly implementing something new every couple of weeks. I see now he is mostly demo for ZB. I recall there was usually only around 5-6 or maybe 10 people max ever in the live trading sessions which weren't designed to be trade calls but rather we were group learning more than anything.
I couldn't make money using his system and the $750 was sunk costs.
I've just quoted two experiences which appear to be quite at the extreme opposites with this vendor.
Chessbase's experience appears to be very enthusiastic, while everetts sounds like he/she was disappointed.
Were both participants always on the SIM? Was chessbase's experience simply lucky? Was everetts' simply unlucky? Was the vendor going through a period of high change?
It would be interesting to flesh out the differences.
Chessbase hasn't posted anything to this forum in 2 years. A massive amount of grandstanding of this vendor in a short space of time and then radio silence after Big Mike's intervention. Make of that what you will.
Upon reading Emmett Moore's review, the vendor seems like a shill. As soon as he is challenged for proof of trading performance, he gets all defensive. He can't even prove he has a trading account.
Caution people.
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- Trade what you see. Invest in what you believe -
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