Mark Deaton and his latest Bear Market Bulldog

[Freddie]

Perhaps I am in the wrong thread, should be 'REQ' but I would like a copy of his BMB, I believe, I will check back and edit if wrong. Also want to try it here!!

 

The thing is that it looks quite an easy and straightforward system. He has sent out five videos showing how to work it but, as usual it is all historic. My problem is, will I recognise the moves when they are on the hard right edge of my screen.

 

So, I was thinking that we could have a look at this system daily and see what we would do. Anyone interested?

 

I can forward the vids to anyone who wants them. Might be a problem here if I ask for e-mail addys. MODS, IF THIS IS NOT ACCEPTABLE LET ME KNOW. I WILL DELETE THAT BIT.

 

If anyone buys this before it closes tomorrow, please share.

[Freddie]

We are looking at the Daily Time Frame. Basic entry long: Higher Low; Double Bottom, Double Bottom X; Breakout; Flag; A few other patterns.

STOP is a reversal, New High Failure followed by DT, DTX Lower High.

 

All these terms are to be described in detail in the 9 week/module course @ $99 but, he says, he gives all the detail in these five vids.

 

Hope that didn't look like an advertisment for the course. I am just sharing what information that I have!!

 

OK, DB X appears to be a normal DB but the second bottom has a pin bar. I assume that DT X is the opposite.

[Freddie]

Here is a look at £$ showing what I think is a DBX and what I see as an entry but cannot see where to exit. By the rules, that is. We seem to have entered a sideways move.

Ignore the green bars they are just Inside Bar markers, nothing to do with this system.

If we enter after the new HL then the blue bar gets us 233 pips. This is then followed by two red bars.

 

Who has views?

 

http://i914.photobucket.com/albums/ac341/freddieforII/MD%20BMB/BMB5811.gif

[Freddie]

Lots of views but no comments. Never mind lets contimue:

After the big move up we hit a pair of tram lines. They would lose us about a third of our winnings but not hit the SL.

Where is the SL? Maybe at the New High body near the trigger.

 

Cannot remember what tram lines say but it was only a small setback. Next day we are off again with more winnings.

 

I have marked a trend and I believe that a break of the trend would be the exit.

 

http://i914.photobucket.com/albums/ac341/freddieforII/MD%20BMB/BMBexit5811.gif

[chiefproest]

well done Freddie, am also going to watch the videos but i think profit targets depend on your trading style. if you looking for long term trades, you do not use fixed profit targets and ride the markets for as long as possible/ normally get stopped out of a trade by moving your stops some pips below the consolidation formed above. but if you are more short term, i would suggest quickly taking some money off the table because this consolidation could cause prices to fly higher(in which case you re-enter and suck the market for some more pips) or price could reverse and take away your profits.

[Marchello]

Thank you Freddie ... your comments and members are truly appreciated by me ..

 

Look forward to see this thread grow, as I see potential in understanding slowly what it is about.

 

Good trading wishes

[Freddie]

Welcome ChiefProest and Marchello, nice to see you here. My aim here is to see if this system works bar by bar. MD has shown a series of moves bringing in large amounts of pips. If I follow the rules, can I do the same...in theory, that is.

 

First thing I question is the Double Bottom X. I have copied the first trade and looked at just what this thing is. Either we take the wicks or shadows into account or not. Doesn't matter which but look at the DBX that he illustrates...wick n one side, not on the other or do I not know what a double bottom is?

 

http://i914.photobucket.com/albums/ac341/freddieforII/MD%20BMB/BMBexample.gif

[Freddie]

My problem with MD's first trade is that he is trading long when there is a trend line against which his trade bumps.

I would expect a professional trader to go long with a target of the trend line then re-enter as the breakout happened. The bounce off the TL shows us a higher low so it looks like a trend reversal is about to happen. There is another attempt to BO that fails but the next day closes above, a good sign and the next day continues up followed by a small retrace.

 

I feel sure that the long wick bullish pin bar is a known reversal pattern.

 

All in all I think that Mr. D is spinning us a yarn here.

[Freddie]

http://i914.photobucket.com/albums/ac341/freddieforII/MD%20BMB/BMB5811.gif

 

Interestingly, my trade also has a breakout of a downtrend. I will add a picture of that tomorrow but for the moment, it cuts just above the green bar.

So where is our trigger really? Is it the blue bar after the pullback, on the close?

 

Maybe I need to look at the video again!!

[Freddie]

Just looked at the tramlines on the 4H chart. They give us the DT out but don't break the TL

 

Maybe the conservative view is get out on the first signal and save a few pips, risk losing another move up; Aggressive view, get out when thrown out risking a little more in the hopes of a bigger move.

 

As Chiefproest pointed out, it all depends on your approach.

 

http://i914.photobucket.com/albums/ac341/freddieforII/MD%20BMB/BMBtram5811.gif

[forex93]

Freddie,

 

Would not put much faith in any of Mark Deaton's latest greatest systems. I have had personal experience with this guy and he is a real scammer--making all kinds of promises about what he's offering, then doesn't follow through after he has your money and then goes on to next scam. Every month he comes out with a new scam.

 

He's already been fined $300,000 for a scam:

http://www.ct.gov/dob/cwp/view.asp?a=2246&q=400812

 

So I wouldn't get too excited about anything he is offering.

[Freddie]

Freddie, Would not put much faith in any of Mark Deaton's latest greatest systems. ...Every month he comes out with a new scam....He's already been fined $300,000 for a scam: http://www.ct.gov/dob/cwp/view.asp?a=2246&q=400812. So I wouldn't get too excited about anything he is offering.

 

Thanks 93, yes, I have looked at some of his other products. All these scammers have a basic system that will often be useful if one just takes a part of it. You will see above that I have already dismissed his opening trade.

 

What most of them do, in my opinion is find a good trend then look for a way to show how it should have been traded. However, much of what is said is right. The first indication was of a reversal: An honest trader would have said what I said - that the pinbar after a good down push might well indicate a reversal, we must wait and see. The next clue was the higher low, so the reversal was working or rather it would if it got through the downward trend line. It was certainly not the long that he proposed.

 

So, no, we are not saying his system is good but looking for the best parts of it. PA and candles.