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[Please Vote] What financial markets do you trade now?

Spectral_Analyst

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Posts posted by Spectral_Analyst

  2. Traderbeauty-Power of longer term price analysis and my broker's real money reports a

    in Ninja Trader 7

    Posted · Edited by Spectral_Analyst

    I agree to an extent to what lbf4223 & k33 pointed out. This win-win mentality with no risk aversion (No stop loss) can be very catastrophic on an instrument like ES, where the big sharks from all over the world come to feed. Such wishful thinking has never worked for me, infact it just added to the mess.

     

    Presently, too many longs have entered the markets to take it to its all time highs. Now the concept of "everything that goes up must come down" doesn't really apply to futures market. Infinite supply meets finite demand, so the economic reality will never be the same as trading reality. It is highly possible that we continue to trade in 2000+ range for years to come. What it simply means is, the perception of value has just shifted higher. Just take a look where ES was a in 2010 and where it is now. Many lower levels were never retested.

     

    I was much reluctant to be on this thread, just for the reason that Fibs is not really my game. Fibs & pivots sometimes overfits on the data, if you retrace every swing high to low, you can see all the future pullbacks or reversals lining up with some fib or pivot level. . But i just felt, a post to highlight the risks of such style of trading for newbies was inevitable which is why i decided to step in.

     

    Your risk to reward on this short call is virtually infinite, although you are trying to manage it with the position size. This is like giving free money back to the markets. We all know, trading is one of the hardest way to earn money. Study shows, only 0.87% (Source: Brett's Blog) of futures traders make money consistently. So the odds of winning as a trader comes down to 1 in 1000. If you are 1 in that 1000, you surely wont bother giving away the profits back to the market in the expectation of asymmetric rewards. If not, this style of trading will soon kill your account in no time.

     

    I dont mean to criticize your work, all this is just my opinion for the newbies, please continue providing us your valuable insights Jane.

     

    Regards,

    SA

  5. [REQ] OTG Swing Indicator

    in Ninja Trader 7

    Posted

    haha i noted that too, the guy also uses some cycle indicators on eSignal platform & a few spreadsheet scanners, which he doesn't show in the room. Says its his proprietary stuff where he gets all his edge from.

     

    As long as its makin him money, i dont care which tools he uses.

  7. [REQ] OTG Swing Indicator

    in Ninja Trader 7

    Posted

    After reading this, I don't understand why you say "they do know what they are doing." Please explain.

     

    There was a bit pun intended there. They know how to keep their clients on the hook. The sales guy "Dave" will keep nudging you to sign up as a member & the way they conduct the whole room can easily trap any naive participant.

  8. [REQ] OTG Swing Indicator

    in Ninja Trader 7

    Posted

    anyone has experience with OTG trading room and membership can give reviews or comments? They seem to do pretry well with CL? what s their methodology? They seem to have London and New York room running currently. Thanks

     

    I wouldn't say they are a classic case of charlatans, they do know what they are doing, but their performance are hyped up after markets. When dealing with markets everyone tends to bend facts to make it fit into their claims which they made earlier. There is lot of backward rationalization going on their squawk, "this happened because of so & so reason and bla bla".

     

    I have taken 5 trials (each of 2 days) with them, just out of my boredom during market hours. Everytime they take 2 or 3 trades per day, with an average of 3 to 4 tick target. When asked, they will surely deny that they scalp. Instead the main guy "Jason" would start talking about the big picture.

     

    When asked about market structure, these guys were biting their nails. He explained me the concept of overnight inventory, long liquidation & one time framing auction all with his "Price action Swing theory". Don't know if i should appreciate his originality or laugh at his ignorance. It completely made no sense to me though. If it was so easy to understand markets, shouldn't we all be rich by now. Dalton puts it into perspective "Complexity creates opportunity".

     

    Yesterday he took 1 trade on CL which was stopped out & one trade on ES which gave 4 ticks. Although after market performance was shown as 12 ticks gain on ES.

     

    Moreover, it was a short call on ES, i almost fell off my chair when i heard it, we had broken overnight high, IB high, yesterday high, last month VWAP, value area & POC kept migrating higher, repeated thick prints at the offer, Cumm. delta rising, volume kept adding on the bracket high & every timeframe was bullish. No wonder, ES broke down 5 tick to finally turn around & make an all time high. Is this the kind of big picture these guys have? He made everyone short in the hole & was just lucky enough to find the vacuum which got him the 4 tick target.

     

    Summary is, i havent seen anything worthy in these people. Others may disagree to me, but if trading was only easy as Fibs and price actions and synthetic levels thrown on a chart, then i would have already been filthy rich by now. I am not convinced with one good reason to join any trading room so far. I can do far quality research by myself. :)

  10. Using demo Zenfire data after 30 day trial

    in Ninja Trader 7

    Posted

    It's a good question. Have you look at BARCHART ?

     

    Thanks, I know about barchart, which i am currently using by downloading the historical data & then using excel functions to find the historical roll over dates. Its a little complicated. I was asking for some source which could display all the volume roll over for the previous 4 to 5 contracts at one place.

     

    Please verify these volume roll over dates for ES which i calculated from the excel file:

     

    ES 12-13 to ES 03-14 - 12/13/2013

    ES 03-14 to ES 06-14 - 03/14/2014

    ES 06-14 to ES 09-14 - 06/13/2014

     

    Thanks,

    SA

  13. (REQ)OFA Ninja Trader Full

    in Ninja Trader 7

    Posted

    I watched videos on their youtube channel, actuallye there is also new indicator (I forgot the name) , which is basically a market profile range, u can profiling in a range u prefer( u can use LogicHand instead).

    The rests are same I think,except they added more cuztomizable indicator (EXA,VCA,MOA) which we already have.

    Regards,

     

    Thats nice, would be great if you can link the youtube video. Picture is worth a thousand words ;)

  16. NT 8 Major Enhancements List

    in Ninja Trader 7

    Posted · Edited by Spectral_Analyst

    if you are profile & order flow trader like me, Sierra is way better than Ninja. More customizable options, very prompt support & SC datafeed is half cost that of IQ without deterioration of data quality. I have no reason to stick with NT anymore. Will be slowly migrating to SC before NT8 arrives. Changing ninjascript & such cheap tactics is just going to make SC guys richer.

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