----------------------------------- gretrading Wed Dec 16, 2009 3:44 am My experience so far ----------------------------------- I have been following Al’s webinars for a few days now. I would like to share some first impressions. First of all I think it is an excellent experience and I am very glad for this unique opportunity and I wish to thank all those who have made it possible. I wish I had this sort of opportunity when I first started trading, many years and many dollars ago…. I think that not allowing questions during the day is a good choice and it is really good to have the QA session at the end. It is also good to have Al commenting on the best trades of the day. In these days the market has not been too generous, and it has been quite difficult, so we would have to take this into consideration. I should also say that I am trying to follow Al as literally as possible in these initial stages. I just test the method using 2 ES lots trading for real, scalping one and swinging the other. I generally trade all sorts of markets with different systems, but I would like to see if I can embrace Al’s “simplicity” and minimalistic approach. Here we go: Al seems to be extremely cautious. I am not sure if this is entirely part of his strategy or it is a bit forced by regulatory concerns of “calling the trades” real time or whatever else. I have found that I have passed many trades that I would have taken with my limited knowledge because Al was very suspicious about them and their probabilities of success. Overall they would have been good trades, but you never know…. Ironically, I was making more money with this method when I was not following Al in the webinar in the past weeks, but perhaps I was also inputting some of my other analysis. I agree with what terratec said about distraction: my systems are quite mechanical, so it is not too problematic to take decisions, but sometimes I found I was overruling a system signal because Al said that it did not trust that particular set-up. Let me clarify that this is in no way a criticism to Al, more of a note to myself. A second point is that I have found myself daunted by the wealth of knowledge and analysis Al can display. It is a good challenge and very stimulating, but sometimes I wonder if I would ever be able to master all this stuff! Which leads me to another point: it seems to me that his methodology has been tried and tested comprehensively on these specific markets (ES, TY and EURUSD) . As I said, I am trading many other markets with other systems (the 4 US indices and 3 European ones, for instance) and I am not sure so far whether this methodology could be applied as efficiently in all these markets. Again , I am aware that Al suggests to use only one market and focus on it. I am just a test freak and I want to see for myself what else could be done. I am trying to follow TF and the DAX, which are very volatile and temperamental, but I do not see the same efficiency. I am also testing ESTX50, which behaves much like the ES, but again I have had many more spikes than the ES which are making the test quite neutral/negative. Even the 6E appears to have a rather different behaviour in the European morning, when it is very active, than in the afternoon (or US morning) So perhaps the weight of enormous experience leads this methodology to these markets, screening out others? Too early to say, but I thought it would be nice to throw it there for discussion. I hope it helps, apologies for the length of this post.