He claims to trade price action and has some pretty comical videos trading on NT market replay where his targets aren't filled but tells everyone they got filled anyway. I am always interested to see what indicators and systems these guys use. I have no problem with consulting and sweet indi's getting sold but this guy definitely seems to be preying on new people. Does anyone know what indicators and strategies he uses?
I wrote a simple strategy in ninja (pretty easy because the method is 100% mechanical) and tested it. The signal is pretty accurate in the sense that it has a winning rate of approximately 65-70%. This is probably because of its HUGE initial stop loss (5 points). The method recommends taking 1/2 off at 2 point profit and the second half at 4 point. However, it appears that price rarely hits the 4 point mark (I move my stop to break even when it hits the 2 point mark).
I tried it on sim and the system can give you 7 - 10 consecutive winning days (taking 2 point profit only) but one losing day (5 points) is equal to more than the profit from 2 winning days.
Nearly forgot about this thread. I saw a webinar John Paul put on once and I asked why his targets weren't getting filled and if he was simming on market replay and he didn't answer. Cory has cooler opening range breakout stuff than daytradetowin. A lot of people are quoted on his site as having a bunch of winning days. Someone said on one of those threads linked above that ES changed at the open significantly to render John Paul's strat as marginally effective these days. I never really tried any ORB stuff. I just don't like the guy after hearing his webinar. He totally rubbed me the wrong way. Not all vendors are like that but you could tell he was targeting people who didn't even know how to use ninja.
You don't need a script.
Using 10 min bars calculate the high and the low of the range from 9:20 to 9:50 EST.
For a long entry wait for a 10 min. bar close above the high of the range. Enter a buy limit order at the range high.
A short entry is the opposite, requiring a 10 min bar close below the low of the 9:20 -9:50 range etc.
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