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Well, good luck to you guys trying to make this work.
I have a feeling the vendor from Emin Academy doesn't even use the method he is selling.
He is making $5k a pop selling it to other people so why should he use it? And from what I understand it is a re-make of NexGen (which didn't work too well either from what I hear).
It's easy to sit there and look at a chart of yesterday's action and tell traders where the trades were. Anyone can do that. But let's see him do it in real time. On his blog when he puts up these videos he always points out these magical exit points, and they always seem to be exactly where the market turned. His entry technique seems valid though, but I don't understand how he always seems to get out of the trade at the best possible location. In real time, I would bet a lot of money on the fact that he can't do it the way he shows in his videos.
If you are going to make it work, I suspect you would have to revise the method from the way it is sold, as I have heard from many that they cannot make it work due to the subjectivity of the exits.
But I wish you guys good luck in trying. At least Vovan is honest with his videos, I just wonder how much money he will make.
I read in an interview of Chris Dunn that he is making around 1.5 mil a year selling Emini academy courses so i dont think he needs to trade his system the only thing he needs to do is make it more attractive for new customers and increase the prices. ... and btw the subject of the interview was how to make an online business selling trading courses
Sounds accurate to me. No way is he trading the method. If anyone is interested in signing up with him, they should ask to see his trading account statement first.
I'm not sure if he's trading, or not. The only thing I know that we have to trade something because we've got nothing to sell. I see my future in trading and I don't really care if he trade his system or not. All I know I have to practice a lot and get profitable.
Thank you guys for positive feedback on my videos!!!
Thanks a lot. I'm trying. It really helps when you call all your trades out loud (even if it's a mistake). I'm not ashamed of my mistakes and I hope that other traders can learn from my losses. I just made today's video. I'm gonna add link when it's done uploading.
Vovan, although I do think the EA method has flaws, you are doing a good job with your videos and trying to interpret the MACD.
If this is the method you are going to stick to, then my advice would be to look at 6E.
ES is like watching paint dry. Or at least have them both up so you can monitor them both at the same time.
It might make your day a little more exciting at least.
One thing I will say is that no matter what I think about the EA method, if you spend enough time with it, I guess like anything else, you will start to improve. I don't know that for sure, but what I do know is that any method takes a lot of practice to get good at.
The one problem I have found is that in a choppy market you can take a few losses before you realize that the market is choppy. But this will take time to notice with any method I guess.
Keep up the good work, I like the videos.
Maybe you should start your own thread though for doing the videos. Like your own journal perhaps. Just a suggestion.
That is the method I want to stick with. I tried another system earlier but I didn't feel comfortable with their stop losses. The system I'm using right now feels really good without huge losses. I gave the last system about a year and I think that is enough to move on and try something different.
What about ES moves, it's been pretty slow for last couple weeks, but the week before wasn't so bad. I know that CL moves much more but I want to try make money with a choppy market then it will be much easier with big moves.
I'm probably gonna start looking at 6e next week and see how it goes. I traded four markets earlier (ES, 6E, ZB, YM) but that was with old system and one single loosing trade at 6E could put me to -$200.00 and then I needed to get 4-5 wins just to get my money back or get one big move to BE. Now I feel more confident with what I'm doing and my losses should not be that big.
What about choppy market, I think I'm getting better. I use 30 and -30 lines on the MACD to see if trend is strong enough for me to get in or stay out.
I just don't think I'm good enough to start my own thread. May be in a month or so!!!
Yea; you really have to be comfortable with the size of your stop loss--I agree.
There is no need to trade a method with a high inverted reward:risk ratio.
Small losses, scratches, moderate losses will not break you.
When you factor in large wins, moderate wins and small wins (without a BIG loser) you ensure you'll never get hurt too much in terms of $$$ and equally important your psychology won't take large hits either.
Large losses and poor reward:risk are very powerful negative reinforcements in trading.