Day Trade To Win DayTradeToWin

I came across a website called Daytradetowin.com, run by someone named John Paul who seems to have a pretty good system....
He just trades first half of the day, and uses no indicators and posts a lot of his actual trades on YouTube.
Has anyone here heard of him or have any experience with it?

Rainmain
Appreciate your continuing to post your results weekly. I am following along to see how things go. From what I have seen you have had one stellar week (9pts) and a couple of breakeven weeks. Please keep posting. Thanks

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Originally posted by rainman99

BTW Nick, You have the right idea on your money mangement. Money management in my humble opinion is more important than the stratagy.

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Hi Rainman

Yes, I have been further playing this over in my mind trying to work it out. Could you see If I am correct and give me your feedback on the below please?

If I trade for only the 1 contract (to begin with) for just the 2 points only - then each day I am risking $250 loss (on 5pts stop). However If I trade the 2 contracts as taught to hit 2pts / 4pts then I am effectively risking $500 Loss..

Now, looking back through the last 2 months mainly, most of the days consisted of hitting the 2pts - and then breaking even on the second contract so I would only be taking the same £100 a day regardless.. So really I would be risking $500 to gain $100 most days instead of risking $250 to win $100 for one contract. (This is only if second breaks even)

Example number 2.. Firstly I must say my rules so far, it will be to only re-enter a second trade if first is a loss, i will not go into a third should the second lose.

So example is that my First daily setup loses, so on one contract I lose -$250, second is a winner making me $100 back so my daily loss is just -$150.

With using the 2 contracts, I lose first setup, so -$500 loss, then I win second (but let's say that only the 2pts are hit) I make just $100. Daily loss is -$400
or
same as above except second trade hits both 2 and 4pts, I am now at a loss of -$200 on the day (this is still $50 more of a loss than utilising the 1 contract only)

Does this make sense?!? I am trying to minimise my risk, especially to begin with, and gradually build my account up in order to trade over 2 contracts as taught for 2 and 4 pts - However after running these scenarios through it would seem it is less risky to just trade for the 2 pts a day only, scrap going for the second 4pts and simply build my quantity of contracts up over time and always go for just 2pts only.

Would you not agree?

BTW I have some backtested Tradestation results for trading 1 contract for 2.5pts with a 3pt stop if you are interested? Similar to your setup except going for 2.5pts, a friend on another forum sent them me - Only from start of Jan this year until mid April though so not sure if it's any good to you?

If so PM me.

Cheers

Nick, Yes in my humble opinion going for the 2 & 4 points is a flawed system for the reasons you pointed out. Also I never try and catch the second trade. Back in July there were several times the system he posts took a 10pt loss in one day. Also, can you post those tradestaion results here? It would be interesting to see what they look like. Thanks

I am not sure how I can post the results, It is a big file - containing loads of breakdowns such as weekly, daily, monthly - losses etc.. it's literally pages!

I can send you the file - anyone who wants to email me.

[email protected]

Cheers

BTW Rainman - this other system 2 - is this somehting you have created or another system you have purchased and are tweaking? can you shed any light on it's method?

Nick, I will send you a email this weekend. System #2 is something I came up with and I will probably post the system rules in a couple months. So here is this weeks frusturating results....

System #1
M 3
T 3
W -3
T no trade
F -3/ stopped me out on the tick and then reversed for 3 points
System #1 was B/E for the week

System #2
M -2
T -2
W B/E(If market hits my profit target and I dont get a fill I adjust stop to B/E)
T -2
F 2
System #2 was -4 for the week(first loosing week in 6 weeks, Bummer)

Got a bit bored yesterday after missing a couple of good trades ... so went noodling around the web looking at trading sites ... forums, vendors, the highly entertaing soap opera posts etc.

John Paul Jones Tudor Howell Rothchild the 5th's daytradetowin website offered a first 3 chapter free deal on his ebook by tossing him your email for his database. Waste of time. But, I of course got an email today with a link to hear his interview with Tim from Trader Interviews.

Yep, I was bored again today after missing another fill on a limit trade entry. So I dialed in to hear what vendorman had to say to Tim this past May. For whatever reason (probably a variety of 'em) it kinda put me "on edge." Bet he was good at dodge ball in 5th grade considering all of his non-answer answers. He also fell into the "we" thing that vendors (and the mentally disturbed)often do ... we do this, we enter here, we're only looking for our 2 points (no, 4 points ... I mean 2, wait, what did we just say, we mean 2 if we get it and 4 if the simulator price action moves that far ... ummmm). Kinda creepy really.

J.P. mentioned how many monitors he had (around 10 or more I think), and Tim asked him what was on them since J.P. had previously talked about using just one 5-minute chart and a DOM to trade. Well, he pointed out the chart and DOM again, said his email account and skype ... then repeated that and started rambling about how beautiful it was living in Florida or something just as highly relevant. He also laughed at weird times ... goofed with my head.

That's all fine and he may be a dandy, decent fellow. BUT what really caused the following as I sat here half listening:



was when Tim asked Paul, based on such a big stoploss used, how many losses he's taken in a row. He broke out in a sweat and finally muttered "only 2 or 3 times have I/we had 2 losing trades in a row." And I'm like, "WTF!"

Anyway, just thought I'd share and ask, for those who know and/or trade his system/method if you've only had 2 losses in a row just a couple of times. Please advise, as this would almost constitute Holy Grail-ness. Rainman, what say you?

Good lord, I just realized how long this post is ... sorry, my bad. Btw, I'm just as unfamiliar with his entry strategery after the interview as I was before. I'm just thinking it's brazenly irresponsible and harmful to state that statistic about his product that he/we is/are trading and selling ... unless of course it's true. If so, that's a hell of a mouse trap he's built.

Feel free to un-f*** my thinking on this with actual experience with his product and send me down the path of righteousness.

I'm MonkeyMeat and I approve this message.

In July I saw him take 2 losses in one day a couple of times. There is no way from what I can see that he or anyone that trades his system the way he teaches can make money. He used to post his trades daily and then pulled them when July took a turn for the worse. Anyway his trades that he posted looked to be false. He teaches to go for two points and if achieved lock in half. Well with 20 contracts thats 10 off at 2 points which is $1,000. The problem is his website always claimed a $2,000 profit if two points were reached. Well most of the time when 2 points are achieved the market stops you out on the other half at B/E making you $1,000 but the website always said 2,000 as if you magically wer always able to take all 20 off at 2 points. BTW, You can take all 20 off at 2 points if you want but that leaves you with a more tha 2-1 negative risk to reward ratio. You will never come out ahead with a negative Risk to reward ratio like that in my humble opinion. Anyway, this is why I have modified the trade to go for 3 points with a 3 point stop. THis week will be the first loosing week in 6 weeks of trading with the modified trade. It may turn out that the way Im trading the signal doesnt work either but at least I only need 55% winning trades to have a winning system.

BTW, I dont regret buying the system at all. I think if someone thinks outside the box alitle you can change and modify any system to be profitable.

Weekly Re-cap
M -3
T 3
W -3
T -3
F 3
System #1 lost 3 points for the week

System #2
M 2
T -2
W 2
T 2
F 2
System #2 was +6 for the week

I wonder if I can sell System #2 for $695, LOL

well with the 3 point win vs 5 point loss, remember five wins is offset by three losses, jp is cool enough but even in the diagrams I notice that he posts charts that would have stopped out so I thank him for what I have learned but if you can find a pattern and it seems to be working, give it a shot in simulation, if success is high, try it for real, if not, rethink it. I'm going to try the 3 target 3 stop that I read of and I think that in simulation I am also going to pay attention when it drops like a rock three or four times in a row that it doesn't mean that it has broken the ceiling and will rocket skyward for two points. The terms will be helpful and I thank JP but hits don't feel often enough right now to try to dive further into it.