Who bought "Daytradetowin" course?

[evensteven]

If there is anyone out there who bought the above mentioned course, would you please email me. I would like to know more about the setups. Thank you.

[evensteven]

Does anyone using this site frequently know who John Paul is at the above named website? Or, has anyone purchased his trade at the open method and would be willing to share how it's worked for them. I think this is a way we can all help each other from buying trading stuff out there that simply doesn't work. Who wants to spend $500 - $600.00 or more only to find out the method just doesn't work. If the daytradetowin method is everything this John Paul guy says it is, then the guy will make money thru satisfied customers telling other traders. Surely, there is someone out there who has bought this method. Just give us your honest assessment and how long you've been using it.

The historical data shown on the website is quite impressive. If that info is not accurate, I believe John Paul would be in violation of law. Surely, he would not take such a risk. Thanks.

[jrs]

http://www.ninjatrader-support2.com/...ad.php?t=16282

[ninja-on-da-roof]

Hi,
I am a DayTradeToWin user. I was just wondering if any of you, who also use this method, want to form a group or something so we can discuss about our trades and share any ideas to improve our skills.
Yahoo group and IM would be great.
Since the owner of the website doesn't have a forum or a chat room, having a group of us sticking together would be helpful. Sometimes, there's a trade that is listed on the website as "winner" but it is kinda mislead people because in reality, like one recent trade I had, if you had a 5 point stop loss, you would have gotten kicked out and that was a loss but if you had a 6 point stop loss, then this trade didn't get hit, turned around and became a winner.
Anway, if you trade 20 contract per day, if you have two losers in a row, that is...10 grands in a flash. Imsgine how many days in a row you have to win in order to get back this amount with just 1-2 points target.

[tomgilb]

I tried DayTradeToWin a while ago for about 2 weeks and found it to have way too much drawdown for my taste. I made huge gains in a week or so and lost it all in 2 days. Fortunately I made the gains before I incurred the losses.

With 2 and 4 point targets and a 5 or 6 point stop loss, you'd have to be successful about 3/4 of the time to break even. And with huge drawdowns, drawdown recovery becomes an issue. A drawdown of 10% of your account will require 11% gain to return to break even, so this is the max you ever want to incur. The recovery curve is exponential beyond that. See attached spreadsheet.

Given the drawdowns, prudently trading 10 or 20 contracts as he suggests would require a minimum $100,000 or $200,000 account, respectively, IMHO.

I found his posted returns to be mostly accurate, but he does use some discretion in when he closed a posted trade, so your results may vary.

The system uses a simplified version of the opening range concept, and ignores other market data. As such, it is blind to most market dynamics. Be careful trading this system.

[Jason11]

Tom - Thanks for the Excel sheet

[Jason11]

Have you spoken to John Paul? Doesn't he offer a guarantee of sorts? I think if you showed him actual acnt statements they would work with you....I think I read that he posted that in some other forum.

Sorry you lost $$$. Does the system not show the same trades he posts on his website?

[zweistein]

I have not yet seen a system that works fine on a longer run. Usually they all blow up earlier or later.

By tweaking the parameters any backtesting will become impressive and yield phenomenal results!
You can then show a strategy to your customer and say: Look, this would have been the result of this strategy for the last 3 years! Wow!
Unfortunately you just found the right parameters a little bit too late, (3 years too late).

Unless I see a notarized brokerage statement of the performance I don' t believe anyone!


Good luck
andreas

[delta20]

I wish I had read this post before I spent my money.

I think John Paul is sincere and probably a good trader.

the system itself is simple support and resistance and momentum candle patterns. The thing that makes it unique is the Atlas line. The atlas line gives you the trend direction proprietary forumula.

The problem is this if you took all the trades you would lose lots of money there is discretion involved. Basically you still need to know whether to take the trade or not. You may as well learn candlesticks.

Are far as the results given by the company they are not reliable in my opinion. Let's say that all the entries are valid the problem is on paper you may not actually get filled on the exit.

so if the target is 1 point and the chart shows exactly one point if you are paper trading or backtesting you really can't count that as a definite win because many times you are not going to get filled at the extreme price.

I am hoping to get something out of this but honestly I think I wasted $600