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I'm not looking for a holy grail. I have hundreds of indicators. I'm looking for someone who can teach me to interpret market information with sufficient accuracy to make trading a profitable enterprise. Hawkeye Traders claims to provide not just an indicator suite but a trading methodology so I repeat my question: does anybody on nexusfi.com (formerly BMT) have any experience with these guys or not?
I have experience with them. I bought the indicators a number of years ago. They do have rules to go along with the indicators. I have not been using their stuff for some time. I think some changes have been made in the last few years.
My personal opinion is that you don't need their indicators especially if you have hundreds of others already. The question then is, what else is not in place? Do you have a plan? Are you patient or impatient? Are you disciplined or not? Do emotions get in the way. If you want to be able to interpret market information then perhaps reading the price action thread may help. Another good source for chart reading is Gary Dayton's chart reading course. I'm not associated with him and don't benefit financially. I think that with indicators that you have and reading the chart can be enough, but, the biggest aspect of success or failure, in my opinion is the psychological aspect. I say this from my own experience and failure.
It's hard for me to be critical of Hawkeye, as they really try to do a good job. Nigel Hawkes (the founder), seems to be backing out of the daily grind, and has turned it over to someone who's actually doing quite well. If you're interested in the human interaction element, they try to deliver in this area. I can also say they've supported the product all of these years, and delivered several upgrades - the latest being noticeably better.
As for the indicators themselves, I would have to rate them about 5 or 6 on a scale of 10. They're not bad, but IMHO they're just not outstanding enough to justify the asking price. Especially if you have lots of good indicators already. The premise of their approach is multi-timeframe tick charts. Basically they have three tick charts which are set by something called a "gear box". You then look at the "gear changer" to see what timeframe to use. Depending on what instrument you trade, these three tickcharts don't vary much over time. I believe they are using something like a triple moving average of the 15minute volume to get the tick values, and maybe ADX levels to determine which chart to use. The bread n' butter trade is an ABC pattern, that they refer to as "roadkill". The concept of using multi-timeframe charts and ABC patterns is pretty popular, and there seem to be several variations of this posted here in NexusFi (formerly BMT).
As I said in the beginning, Hawkeye are run by very honest people. Nigel Hawkes is actually a very nice guy with a good heart. To maintain a staff and an office it just takes money, and thus the cost of the indies... They also have weekly webinars, that I still attend several times per year, or I'll just catch up on the YouTube site.
Should finally mention that I don't regularly use their indicators in trading any more. However, I still refer to them once in a while for confirmation.
My ongoing experience with Hawkeye is/has been very positive and I consider them to be highly ethical. It is a completely different question, if their approach suits one's trading personality/style.
The indicator did not help my trading although that is not an indictment of the indicator. I have paid for several indicators trying to find the silver bullet and none have my worked. However, I do have a major gripe with their recurring maintenance fee. After giving up on there indicator 3 years ago, they charged $36 against my credit card in March of this year. I called and was passed through a couple people until I got a gal that said she would look into it and call me back. I noticed a slight chuckle in her voice as she said that. After waiting a week without a returned call, I had to go through the inconvenience of calling my credit card company and having my card cancelled a new card issued. My credit card company was great to work with and reversed the charge but it's frustrating to have to do that.
