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They say on their website they've won TASC (traders.com) Readers' Choice Award for "triple trading systems" some 20+ years in a row. You can actually go to TASC's website and find the historical winners yourself. They're not listed anywhere under any of the stock, options, futures trading systems categories. So unless for some strange reason TASC doesn't list that specific category of "triple" systems, that claim is complete BS. They also claim their trustpilot is "Excellent"...5 of 5 stars. But when you go to their trustpilot profile yourself they've got about 2.5 stars with plenty of reviews saying it's a scam. Seems they could easily be sued for false advertising. Best to steer clear. What's odd is that it was traders.com themselves that sent me the ad. Like....do you idiots not check your own ads, especially when the product mentions your own publication?
EDIT: The TrustPilot score on the site is accurate. It's actually a TrustPilot widget, which says 4.5. I was looking at something else and was mistaken.
If you look at their charts, they use different settings on them. Why? Because the volatility of the markets changes with time...
To prove the point, you could save a few K and curve fit some moving averages on a set of data. But what's the point if you have to keep changing the settings!
Abletrend is hardly holy grail let alone worth its price...
I had it for a year. Sometimes it works great other times the chop will kill you. The problem is their strategy. In the demos the guy says take one lot off at 10 points and goes breakeven. You have to get a big runner with this or you will lose. When you take a stop out on a trade they don't remoind you that you are taking a stop on 2 lots. The stops are big. If you take a stop of 25.0 on NQ, it is really 50.0 points total. If you take a 10. 0 profit every time and get stopped out break even on the second you never make money. You have to get a huge runner which does happen, it just wasn't for me. I didn't make any money. Trading Es is too choppy, runners are more difficult. The system isn't cheap either. The weekly demos look great, it's not that good. He omits big losers in his demos.
No indicator or system can win in the long term if it is mechanical. After practicing trading for at least two years and four hours daily, I learned that human input is key. AbleTrend or SuperTrend is helpful for an experienced trader to unload decision-making when trading 1-minute NQ chart using EMAs.
If a system always wins overall, there will be no trading in the world. Trading is a business; losing is part of the game. You must figure out your style to make money, even if you have four or five losses before the trend appears. The Trend pays for the losses. Riding the trend with momentum is key with a pullback.
AbleTrend is too expensive, but the video is helpful to a certain extent. The stop is too big for my style, and the dot they have tells you the support level. Don't enter if the price is too far from the dots.
Two contracts they recommend per entry are advantageous if you know how to read the market well. For NQ or MNQ, the first contract is out at 20-40 ticks, and the second contract trail with BE+2 can be a good strategy if you test it 1000 times. At 9:30 am EST open, it may be too volatile; 15 or 30 minutes is usually better, but there is no guarantee.
Five years to get experience is not unusual. Stop looking for indicators, but use them after you have the expertise to aid your decision-making about entering a trade. Most new traders have this backward and keep looking for a magic indicator forever.
Just want to humbly disagree here...There are definitely trading systems that make money long term. Some have worked for decades now. I would agree though that its tougher to do with standard indicators, but certainly can still be done and has been proven with members of nexusfi.
I understand those systems are not day trading from ordinary people and usually need a deep pocket with a significant drawdown or capital intensive.
Many "experienced" traders can win sometimes after a long time; traders perform well, show off, and disappear when they lose. This is human behavior. The long-term success percentage is low, like 10 years, especially for retail traders. Those who can trade don't post. Coming to the forum and buying indicators is distracting; hoping one would work.
Day trading is about experience; it's not an overnight success career. Investing is another story.
