eminiviper.com

I started this topic because some questions I asked and answers I got from cba33558 were getting lost in this rather extensive topic here:

http://www.mypivots.com/forum/topic.asp?TOPIC_ID=2300&whichpage=30

We started this discussion on page 30 of that thread, and I thought I'd move it here so we can continue it (since no one took me up on my offer to start this thread). I'll cut and paste the three posts made after cba33558 posted a chart about eminiviper.com

From 6/8/09:

jimkane: Hey, cba. I checked out that EminiViper.com page. Very impressive. Seems like they don't have any losing days, or even losing trades (or do they not post those?). Is that so? If not, how many stop outs or false signals are you seeing on an average day? It doesn't mean much to me to see winners, I am more interested in the losers I have to take to get those winners. Also, are you the owner of EminiViper.com, or do you work for them? If not, what is your association? If I don't ask, that will likely be the first question from everyone else. Thanks.


cba33558: Hey Jim -

Thanks for visiting the Web site and offering your constructive questions and feedback...

The videos are intended to show the NQ Emini trades that are triggered by the system each day. Currently the system is designed to issue trade signals only the Nasdaq Emini. In addition to the Viper indicator, the system uses a combination of guidance charts and a trading chart that very rarely has a losing trade. With all of these constraints, it should be noted however, that there are not many signals that trigger in any given trading day. Depending on the volatility - usually one or two trades may trigger - a busy day would be 3 trades.

The entire trading system is not shown in the videos; however, all of the details regarding these trade signals are shown in an eBook and training videos. The actual trade signals themselves are analyzed in real-time in the live Webinars. The entire goal of this system was accuracy - not catching every trade.

In answer to your other question, I have been a trader for a little over 12 years now, I am a partner in the firm; and was involved extensively in developing, actively trading and back-testing the Viper system over the past year and a half.

Once again, thank you for your input, and I look forward to opportunity of respectfully participating in your Forum...


jimkane: Thanks for the response, cba. Wow, those are some incredibly impressive stats. Given these are intraday trend trades, it's almost incomprehensible to me. My style is intraday trend trading, and with the 3 to 5 to 1 or sometimes higher reward/risk profiles I'm happy anywhere in the 30% to 50% winners range.

I have a few more questions. Is there a way to follow along and see live trade signals the moment they develop, on a trial basis? The web site mentions visiting a live webinar for a day. Would one see live signals in time to act, or only after they have started? What if no signals are generated that day, can someone try another day? It's very hard to evaluate a system with a one-day trial, especially one that generates only a few signals.

Next, what is the difference between live webinars and live trading room, as far as signals given in real-time? Also, if one signs on to your room and gets all that training, does that do any good without the software? What is the cost of the license, since the website doesn't specify this? I'd love to follow along real-time for a period and evaluate your system, but I'm not sure you have any provisions where I could do that without laying out money first. Again, if I don't ask all these questions, someone else will. Since I'm probably the longest-winded character at this forum, I figured I'd just get the ball rolling. It's not often I hear about a system that has almost no losers at all.

Lastly, if we go much further with this discussion it may be appropriate to move it from this thread to one you or someone else could create in Trading Advisory Services.

Net profit with these figures would be $31,853.00

Hypothetically speaking. I think it is important to clarify this is all based on backtest results created by running an automated system using historical data.

Hypothetical Performance or Back-Tested Results

HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT/LOSSES SIMILAR TO THOSE SHOWN.

So 2 first time posting Viper shills--scalpertrader and FuturesTraderDad, have come here to set the record straight.

I won't hold my breath waiting for you to post your live monthly trading statements.

This system isn't profitable in a live, real money account and the 3 numbnuts who run Viper--Gary, Rich and Chuck--know it. That's why they don't trade it themselves. The punters' $299 a month is much more profitable for them.

Today the Viper British Pound Auto Strategy made me over 100 tics profit( $625) on 3 trades.

Thanks Charles, Gary and Rich for a great trading strategy and all of your hard work and effort.

Its too bad that some people can't seem to appreciate that, but I certainly do.

Originally posted by scalpertrader

Today the Viper British Pound Auto Strategy made me over 100 tics profit( $625) on 3 trades.

Thanks Charles, Gary and Rich for a great trading strategy and all of your hard work and effort.

Its too bad that some people can't seem to appreciate that, but I certainly do.

Post your trading statement if you want anyone to believe you're real. And you forgot to mention how poorly the Euro AT performed or the fact the Russell AT hit max loss -80 ticks, or $800 on 2 trades.

if you're going to be a SHILL, at least try to be a good one.

Originally posted by scalpertrader

Today the Viper British Pound Auto Strategy made me over 100 tics profit( $625) on 3 trades.

Thanks Charles, Gary and Rich for a great trading strategy and all of your hard work and effort.

Its too bad that some people can't seem to appreciate that, but I certainly do.

scalpertrader,

Today, starting at 10:10 ET and ending at 16:00 ET, the AT Viper 6B (Pound) and AT Viper 6E (Euro) lost 118 ticks ($743.00) and 20 ticks ($250.00), respectively, trading 2 contracts with the Viper default settings.

But, of course, you know that.

Next time, I suggest you think twice and take a deep breath before you post your great gains and reverence to the 3 headless horseman at Viper.

phantasmagoria,

you should cut scalpertrader some slack, he's obviously a good student and has attended too many webinars. Charles, Gary and Rich's techniques have subconsciously become embedded into scalpertraders head. By that I mean if there are a large number of systems to make you money, you should only show the most profitable one for that day and forget about the losers.

I remember attending many webinars and that is how they operate. If someone asks to see another chart, usually they'll say it will take too long to load and we're forced to look at the one profitable chart for over a half an hour or longer.

I'm thinking scalpertrader is Gary.

Originally posted by phantasmagoria

I'm thinking scalpertrader is Gary.

If you're right then Gary has lost some self-respect. He seems like he is the only honest and genuine guy at viper. Even though he doesn't call trades, he seems like he wants to help other traders. Although it's not clear if he can trade profitably, he seems that he genuinely wants to help(even if he can't).

Maybe he's starting to enjoy his paypal account size and is sacrificing his values for it. Hanging out with Charles, who has no values, doesn't help.

Originally posted by bubbles

Originally posted by phantasmagoria

I'm thinking scalpertrader is Gary.

If you're right then Gary has lost some self-respect. He seems like he is the only honest and genuine guy at viper. Even though he doesn't call trades, he seems like he wants to help other traders. Although it's not clear if he can trade profitably, he seems that he genuinely wants to help(even if he can't).

Maybe he's starting to enjoy his paypal account size and is sacrificing his values for it. Hanging out with Charles, who has no values, doesn't help.

No doubt Gary is influenced by his newfound income. The choice of giving that up or marching to Charles' orders would result in the latter since Gary was a low earner before these monthly fees started to roll in. (I heard he was a shoe salesman at a Payless store in Oklahoma.)

Charles values his Paypal account and grins ear-to-ear each time it has more money in it than the day before.

I recall an early Viper member who befriended Charles telling me that, before becoming a trading guru, Charles was a salesman at a software company--could have been Oracle--and he was fired for unethical sales practices. If true, it makes sense given his modus operandi with Viper.

Today, Viper Russell AT took 3 stops in 16 minutes losing 112 ticks, hitting "Big Red" and shut down.

This things shorts swing bottoms and gets long on swing highs.

Sorry this reply is 2-years late but I just joined the forum.

I know from personal experience that GoToMeeting and GoToWebinar default to showing all users and all comments unless specifically disabled by the Host.

If they're saying what was reported that's a blatant lie.