John Clayburg - Pinpointing Entry & Exit Points (Article)
The video is a day-trading "seminar" with lots of visual aids (all price only driven) which seem to indicate success with the system but I had several problems with this video. The first is more than half way through when the questions from the audience became more persistent regarding what is the methodology by which the speaker knew the direction of the selected market within 60-90 minutes of the opening, he happened to mention there was someone in the back of the room who would sell the system with apparently proprietary formulae, for $3,000.00! Another problem I have is the selection of the charts supporting the benefits of his system. I'd prefer to see consecutive charts for a week or more in a single issue (e.g. the current Crude Future or Intel), showing how consistent the system could be. It seems to me, with the price and size of hard drives these days, (lots less than 1/4 of the sale of one system) the speaker could have brought all the futures, the Dow 30 and an equal sampling of the Nasdaq. People from the audience could have randomly selected an issue. While the speaker's advice during the trade were good (read predictable and available elsewhere), most people want to know when to pull the trigger and when to exit. He said his system was "complex". He said things like "80% of the time the target will be hit, one side or the other." I knew that before he said it. How much on either side? He also offered to trade for anyone that wanted. On a related subject, the reviewer prior to me also sells products (available by way of a link) to traders so. . . I'll let you draw your own conclusions on the reviewer's objectivity. Don't buy. Spend your money and time on something that doesn't look like a come-on.