Last night I re-arranged my workspace (my physical desk) and rotated all my monitors to portrait mode, so my screen shots are going to be a lot taller and less wide than usual. Let me know if it causes problems. So far, I am really loving this new setup.
Also I've been looking into EOT's indicators, forum, their videos on their website, etc. I was wondering if anyone else that has any experience with them could comment. Some of their indicators seem quite interesting to me. Once you get past their website which is in serious need of an overhaul, they have a lot of valuable information (screen shots, videos) and a nice user community (forum). The prices seem reasonable, let me know what you guys think.
Mike
29 comments:
Hey Mike,
Been tracking your Blog every day. Well done. Very valuable information. I currently use EOTPRO indicators. They are very unique, especially their chop indicators and VolumeSplitter. I currently use them in my NT Strategies. Only downside is, it costs $233 a month.
Jthom
Mike,
How are you reading your MACD? A long signal is when you cross above the zero-line, or when you cross above the signal line?
I rented the indicators set for one month and they gave exactly the same signals like Bill's chart. I never took any signals thought. I prefer to know exactly what going into a indicator otherwise I won't trust it enough to take the signal. But it's just me.
I forgot to add Mike trend and MACD is almost like a twin but it's just me.
well i asked them to just sell me a indicator because there was only one that i was interested in but they said no,im not going to rent a bunch of indicators i dont need,and its my understanding that most of the indicators they got for free from other people and just made them better yet they still want to rent them...hmmmm bad buisness...sam,by the way mike my macd seems like it doesnt change color on the zero line in real time but if i close the screen and come back to it all the colors are up to date anyone else notice this??
Well, clearly I have a bias, but in response to anonymous@7:42am I would like to say that there is only 1 indicator in the ninja package that we took a free indicator and improved. That is our Murray math lines and we say all the time in our room that this is exactly what we did. There is also a bar timer which is a pretty bland indicator I'm sure you could find a number of places, but several of our indicators time the bars, so it made sense to make it an indicator that the others could build upon.
At least Anonymous is correct though that we do not lease indicators a la carte, nor do we sell them outright.
Mike I use EOT and so far like some of their indicators the volume splitter works well in a sense that it is nice to know what the large traders are doing. They have a few dozen indicators and I have yet to test them all but as with anything else it is how you use them. There are plenty of free indicators that if used properly and with good money management will allow you to make money from the market. As you may know a trader needs to find something that works for them, EOT for example is very conservative in their trading room, I am more aggressive and take trades that they don't, particularly I don't use the chop indicator. But that works for me and my style. Bottom line, for $233 a month it is one tick per trading day, if someone can't afford to spend one tick on per day on training, trading room, and/or indicators them maybe they should not be trading. I personally am not sure if I will continue to use their indicators , but they are definitely worth the cost.
back to the eot guy im sure i heard on your videos that some guy from trade station use to give out his indicators to you guys for free before you started your website... besides im here on this blog for a bias opp. it was nice not to hear sales pich untill now...sam
Hello Mike,
Is there any MA close to BTW precision in Double MA ??
Good traders trade...and vendors "vend".
Those nice moves on the chart above would not have been captured any better for $233/month.
Hello all,
I have previously observed that a great deal of traders do not like paying for tools. I do not yet understand them, but I do know a lot say they simply do not need anything more than a regular MACD and a SMA to make money.
More power to them, and to each his own. Everyone has very unique trading styles.
Based on some of EOT's videos and screen shots I like the Shelly's Volume indicator and the EveryPush indicator. I do wish I knew what these were looking for, because like others here, I do have a desire to understand the indicators more before just putting my trust in them.
But, trust can be earned in other ways -- like backtests :)
Mike
Trading,
I believe the Jurik JMA will be closest to BWT Precision MA.
Mike
Shodson and Anonymous,
MACD crossing zero line is the primary signal.
Yes, the MACD and Mike Trend have similar zero line crosses. Too similar honestly. Even though MACD is based on EMA, and Mike Trend is based on %R or similar, the zero line cross still occurs sometimes at near the same time.
I am looking at ECO2 still, and others (and now EOT) trying to find something that will improve. That's an on-going thing for me. I have a core set of charts I trade and then I always look to make them better.
Mike
mike good to hear from you again i agree that most of us know how to trade and some of us are just looking to alway make a easy chart to read for others that are not such good traders like me lol im always trying to find a a set of indicators to make my chart so easy to read that a child could read it because i teach wounded vets to trade so any tool i can find to help the easier it is for the soldiers to comprehend. thats why i dont like to lease indicators if i could buy them it seems to just make life better for me.do you think when you have some time if you could try to duplicate the shelly bars ive tried and just can get it...sam
Thanks Mike
Hi Sam,
I've been real busy this week in my personal life and have not had a chance to do a lot of trading, or blogging.
Mike
Trading,
Private message me on the Ninja forums.
Mike
The EOT indicators look good, I'm interested in doing a free trial of their trading room. I'm mainly interested in their volume splitter. I did some googling on this and found a thread where there are similar indicators posted for ninjatrader & tradestation:
http://www.traderslaboratory.com/forums/56/volume-splitter-5824-24.html
I'm in the process of changing from Ninjatrader to Tradestation so I will evaluate both. It's an interesting concept.
The guy who did the videos sur was annoying.
hey cunparis, i used to use tradestation hated them... ok charts but horrible customer service no one there knows what their talking about...bunch of afterschool teenagers working the phones who are clueless,when i left the begged me and begged me to come back offering me free months and all kinds of crap bothered me for a year and i always told them the same thing no way you guys just say anything to get me off the phone...sam
btw, thanks mike for the macd fix...sam
cunparis,
I am really surprised you would consider TradeStation. They seem to be the most antiquated of the bunch, but I imagine you have done all of your homework and if you want to switch to them they must fit your most pressing needs.
I am more interested in cutting edge tools like perhaps MultiCharts.
http://www.tssupport.com/multicharts/
Mike
The main reason I signed up for tradestation is because ninjatrader can't have multiple symbols on a chart and I really want this. This is a serious limitation of NT in my opinion. Also Ninjatrader crashes all the time, constantly. It routinely uses more than 1 gig of memory. Tradestation doesn't use any memory at all and it's much faster.
I think NT 7 could be better than tradestation, if so I can stop tradestation any time. Although if I do 10 trades/month it's free so I might just run a basic strategy on it and keep it.
NT 7 keeps getting delayed and I doubt there will be an official non-beta release until next year.
Just wanted to clarify, I don't mean to say tradestation is great. In many ways it sucks. It's the opposite of Ninjatrader. The file editor sucks, their forums suck, etc. But since it does things NT doesn't (and vice versa) it seems I might need both to do what I want.
Also, NT doesn't have historical data on bid/ask which I also need. If NT7 really delivers I could dump tradestation. :)
HI Mike. The EOTPRO Indicators are awesome and the people there are the same. All very cutting edge stuff.
cunparis,
Ninja used to crash on me all the time as well, until I applied the largeaddress patch. Ninja is not making the patch public or officially supported, but if you PM me on the Ninja forum I will tell you how to do it. It requires Visual Studio.
http://ctrlbrk.blogspot.com/2009/05/ninjatrader-optimizing-channelthis-new.html#comments
Cunparis, did you evaluate MultiCharts? I am impressed with what I see of it so far. They have an active forum, and they openly discuss the next versions features, have polls and take requests on what is to be included, etc.
Mike
mike if you decide to go to multicharts let me know lol ive been looking at it also even though im happy with ninjatrader im game for anything...sam
EOT guys offer alot of support in all sorts of way. if you are interested in a trading room scenario, it does not get better than the three guys are EOT. Bill's wife Shelly is also involved. Not only do these guys help you get up and running, the help make you money. Bill trades live and you can simulate his trading and make money more or less 90% of the time. I am not affiliated with these guys, but I am a keen supporter of their methods and indicators. Take of this what you want - but tell you what - until you tried something and it worked for you...or perhaps NOT....then and only then do you have the right to make statements / comments as to how good or bad someone's product or service is...
yes but why rent indicators when you can learn to use whats available as well and make money that way, trading is not difficult if you will just spend the hundreds of chart hrs. that you need to. like any job you have to study and learn all you can to be good at no matter what you do,even if your a cook or a truckdriver or a doctor it just taks time, focus and patience...sam
here is friday and monday no rented indicators just plain hard work and hrs of study and chart time...sam
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I am a new subscriber to EOTPro. Actually only two weeks. First week spent just feeling my way around the site and getting a grip on the many indicators. Second week spent in the trading room. Bill, the moderator, was a great and answered all my questions. I shadowed his trades and made $500 or more everyday of my second week. I was trading 2 ES contracts first two days and five contracts wed., thur., fri. I changed to 5 contracts because that is what Bill trades. So far I have only traded in SIM. Monday if my Ninja is working properly I will trade live and post results.
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