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I agree, Trutrade.io is a complete scam. After buying the bot, they stopped responding to my emails with simple questions about the bot. The idea that you can just purchase a bot, follow some instructions and make money is very attractive but unrealistic. Automation is not as simple as they claim to make it out to be and requires multiple strategies in which you are constantly adjusting. Their YouTube videos also use renko bars which are very misleading and cause losing trades to look like winning trades (the backtest only sees the open and close price of the bar and none of the data in between). I find it to be crazy that they are getting away with this.
Can you help answer these questions from other members on NexusFi?
Sorry to hear you’ve had a tough time. Have you tried contacting them recently? It does take them a day or so, but they have responded to my questions. I do look over the training a few times, take notes and ask questions.
Renko bars are commonly used by traders and trading software to show overall trend. Your P&L adjusts when the bar closes, so it will show a higher amount until you get stopped out or you hit flat. A lot of software use Renko or some modified version of Renko bars. Their particular system uses Renko.
I have tried contacting them a couple of weeks back about being locked out of my account and no response. You obviously work at this company, so could you get me a response?
The higher amount on the Renko bars is what you use to advertise your systems, very misleading.
I love reverse engineering. It's very satisfying to know that you have all the tools on your desktop to duplicate most of these vendors. This guy is selling a system that can be easily duplicated in Ninja. He has a couple of clowns posting every day on YouTube with their trades. Amazingly, none of them ever has a losing day! Below are the trades from Mr. Guillermo yesterday, Thursday, October 13th. His link on YouTube is: These trades started at 6:32-33 am PST.
The first jpg is the reverse engineered setup utilizing a simple ATM strategy. I posted the details of the ATM below the screenshot.
Next jpg: I wrote a simple automated system without scaling for a single contract just to show how easy it is to duplicate. This one shows the short trade at 6:35 am PST.
The guys at TRUTRADE are getting about $10,000 for the software. Think about it. There are a few other bells and whistles in the software - one is called DRAMM which is just a stop and reverse intrabar.
I have to be out for a while but will describe their system in detail later today - including why they never have a losing day. In the meantime, anyone tempted to buy a system from a vendor should first try to REVERSE ENGINEER it. You'd be amazed what
you come up with!
P.S. My scaled trades made a lot more than Mr. Guillermo's - see below. Will explain why later.
I want to post the statistics of these clowns published on YouTube:
TruTrade: 58 Days $842,350 - AND NEVER A LOSING DAY!!
Live Trading With Guillermo: 90 Days $147,693 - AND NEVER A LOSING DAY!!
Futures Trading with David: 87 Days $552,354 - AND NEVER A LOSING DAY!! (This clown is trading 30 lots)
The grand total for TruTrade and these two clowns in 90 days or less is (drum roll here) $1,542,397 - AND NEVER A LOSING DAY!!
The above statistics doesn't include the short videos that they published occasionally - but of course, they are ALL WINNERS!!
There are a few other clowns working with TruTrade. They obviously get the software free with instructions as to how to post the videos so that THEY NEVER HAVE A LOSING DAY.
The number of views for the clowns including TruTrade is relatively small. I'm mystified as to why TruTrade isn't in the billionaire league yet. Hell, if three clowns can make $1.5M in about 90 days, imagine what they can make in a year - how about $6M!!!! AND NO LOSING DAYS!!
Of course, they all have multiple prop accounts now so I would expect that these numbers will at least triple in the next few months.
TrendLines: Two trendlines which are free here at nexusfi.com or NinjaTrader app section: Set one to 5 and one to 10 and change the colors.
DRAMM: This is a stop and reverse intrabar which the clowns only enable when it works. The average stop loss is around 50 ticks. If the market hits the stop, it reverses, takes a few ticks positive in the opposite direction. It continues this process until it finds the right direction long or short. Of course, in reality, this is ridiculous. The real losses would add up so fast the account could be blown in a single trade. But remember - NO LOSING DAYS! So for the clowns, it always works.
Trade Triggers: The clowns are downloading partial intraday day data. They determine what was the best spot to turn the software on and run the replay turning on the software only when that magic spot comes up. The fact that they turn on the software at the exact time the winning trades occurs is the giveaway.
The clowns have given themselves away occasionally in their videos. I'm not going to post which videos they are because they'll remove them immediately. But they have slipped up occasionally.
TruTrade is owned by Danny Rebello. The guy must be smoking some strong stuff to think he can get away with the scam for very long. They claim it's a 100% automated trading system. But all it's just trade management software. The person using it has to know when to turn it on so that they NEVER HAVE A LOSING DAY. I guess Rebello includes a functional crystal ball that tells the trader exactly when to turn it on and off.
I will post the conditions which can be setup using the Ninja Wizard to trigger the trades.
I don't know anything about this vendor, aside from reasonable conclusions that could be drawn from these numbers. But based on these numbers, there is something very wrong with their reported performance. It is just not believable.
They are not, in fact, making millions and having no losing days. No one is, and no one could. And of course, there's always the fact that if anyone is actually that good, they wouldn't be selling advice to newbies, nor to anyone else, and would not even be bothering to trade any more. Once you're a trillionaire, why would you need to?
The sad thing is that many new or unsuccessful or hopeful or desperate traders are going to see the "no losing days" claim and believe that it's a point in their favor and not a red flag, and will want to sign up with them. Any such claim is actually good reason to stay away, and keep your money.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote