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Here is a quick update after trading this live for about a week now.
First, the rules aren't quite as straightforward as they first seem. You really don't realize that till you are trading live.
Secondly, it is very difficult to get the same posted results as the founder. I'm not saying you can't get them but there are two problems: 1) there can be a couple of choices of taking the trades and if you don't take them the same way he does, you will get a different result 2) he reports the absolute best result as I have stated before
Nevertheless, most days have been profitable so the lines do have some validity, however he comes up with them. Will it be possible to continue to trade with these disparities? I'm not sure yet. You have to have confidence in a system to trade consistently.
I tried a week-long trial run of the system. I had the manual and received the PPN numbers for a week.
I was successful so I've decided to sign-up. It's a monthly recurring payment, so I'll give myself a month or two to decide if the system is for me.
I'll report back my findings here.
I've been in discussions with Sam, the guy that runs the site, and he has clarified a few points for me.
On the whole the rules are simple, however at this point I'd say the manual is not written as clearly as it could be. Don't get me wrong - the rules are in there, however it's not until you see some live examples that you really understand what's going on.
Hi SunTzuTrader and other users of eminipivottrading,
If you or some else joins their Trade Room could you post your experience?
I would be particularly interested in the following points:
If someone joined the trade room would they be able follow along without purchasing the manual and the levels?
Do they call their trades in advance?
How much time do you usually have to determine if you have a valid setup?
Do they call out their Profit Target and how they are managing their trade?
The last question is asked to see if the creators of the system get the results that they post on the website.
I agree with SawDr. Results quoted are not what you could achieve trading live. You would have to have perfect fills to the tick AND know exactly where to exit in advance in most cases.
Is that for the entries also?
Meaning that if the stop is not hit, do they use the total amount of points from (top to bottom) or (bottom to top) of the move to get how they calculate their points?
I have also been in rooms where if it touches their entry and touches their exit it is counted as a winning trade, and there may have been only few contracts traded at either price. Do they count these as trades?
Also,
How long is the manual?
Thank you
Here is the information I received regarding their Trade Room
The trade room is text based only for better clarity for everyone.
The room is for informational purposes. There will be no charts - there will be entries, several targets and a stop given.
The stop will always be less than 2.5 points.
Where a trader ultimately exits or which trade a trader takes etc. is up to them, of course.
They will only provide information.
Ben, the manual is fairly short, which I see as a good thing. If you can't share your rules in a few pages, it's not so simple.
If you check out the videos or buy the service, you will see there are prices provided to trade against. You have three choices at every price - buy, sell or do nothing. This is what the manual purports to provide guidance on.
I too am very curious how he will handle the room since it will be difficult to claim 6 ticks profit if you didn't call that as a target in advance. The manual provides suggested stops and targets, which is fine, everyone has their own tolerance ranges, however, the results he posts do not align with the targets in the manual, they are best case entries and exits. For example, price drops to a line, hits it to a tick and goes up 6 ticks, The founder will show 6 ticks as the result for that trade, even though you would have to had a perfect fill to get in since price didn't go past your line and you would have to have 6 ticks as your target in advance AND you would have to get a perfect fill on the exit since price didn't go past the six ticks. Those types of reports are hard to swallow.
Based on what I have seen thus far, I do not intend to join the trading room. I will be curious to hear from others what they learn but I'm going no further. The best I can say for the system is price does seem to turn at these lines on a regular basis.
One thing prospective subscribers might want to check out is how these price buy/sell points compare to the pivot/support/resistance #'s available to anyone, every day, either through software indicators you can put up on your charts, or:
or, just through your own work, which tries to guesstimate where support/resistance areas are on say, a 15 minute (or some other time frame) chart.
With any price level that you consider support/resistance, "all" you then have to do is see how price behaves at that level and then punch the trade button to jump on when it reacts, up or down.