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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.
They are having 2 webinars today with NT to tout their auto-trade system. I think they realize the old Viper is dead in the water.
I've been investigating Viper today. Couldn't get in their webinar (it was jam packed full!)but I did download the trial version. So happy I found this thread! Viper looks like such a basic ripoff of free indicators although I'm certainly not an NT programmer. I'd love to see what you guys created that is similar if you could send it to me or point me towards it.
Thanks!
Essiar
Since you are all so knowledgeable on Viper, I wonder if any of you are familiar with Trading With An Edge. $5000 for his indicator! It looks too good to be true (as many of these black boxes do!).
I'm listening to the sales pitch as I type for the auto-trader and I'm ready to puke.

This is the most cherry picked charts I have ever viewed. To make it real exclusive, they are, of course, limiting the number of subscribers of EACH INSTRUMENT, so you do not affect the balance of the market. So, in effect, they are saying you can be a big player and influence the market in which you trade. This is one of the oldest tricks in the scamsters book--to make YOU feel like you are a big player!

They haven't determined the price for this Holy Grail yet, but they say it will be a real bargain, like the orignal Viper. But won't they won't say is that the original Viper was simply the same old indicator in a brand new bottle.

As far as backtesting of this Holy Grail goes, they don't have any.

One of the mods siaid he just took a realtime trade in the Australian Dollar and, no surprise, he has a winner. But of course those trades are not in a cash account, they are in SIMULATOR MODE.

Please ask yourself why would anyone who had a money printing machine as these people are professing, sell it to you? Do you think Goldman Sachs will sell its proprietary trading software which generates hundreds of millions of dollars beg to their competetors to buy it from them as these yo-yos from Viper are doing?

The idea is ludicrous and inane.



quote:
To make it real exclusive, they are, of course, limiting the number of subscribers of EACH INSTRUMENT, so you do not affect the balance of the market.




ROFLMAO!
"limiting the number of subscribers of EACH INSTRUMENT, so you do not affect the balance of the market", my god, anyone who trades the ES knows one of the bigggest advantages of trading the ES is its liquidity. According to the rules, you cant have more than 500 contracts (i think its 500, correct me if i am wrong) in any particular trade anyway.

I have spent about a day in converting the viper indicator into an automated strategy (even before they announced that they were going to do it). I can tell you that the false breakout signals will blow your account in no time. Yes it has the ability to catch a big move but the false breakout signals that are generated by the indicator will blow your account. Expectancy is negative.

For the avoidance of doubts, my strategy uses multiple timeframes.

I know many people would like to have a copy of my viper indicator. I am hesistant to release it because everybody is entitled to make money, what they are doing is the same as a salesman selling defective products. The point is, you have to decide whether you want to buy it. If you have bought it, and if it doesnt work, you have yourself to blame.

Forgive my english, I am a Chinese.
quote:
Originally posted by Essiar

Since you are all so knowledgeable on Viper, I wonder if any of you are familiar with Trading With An Edge. $5000 for his indicator! It looks too good to be true (as many of these black boxes do!).



The author has written a book. He claims that NQ is a leading indicator of the S&P500. I have tried to see if it is valid. No, it doesnt seem to me a valid assumption.
quote:
Originally posted by kingkong

"limiting the number of subscribers of EACH INSTRUMENT, so you do not affect the balance of the market", my god, anyone who trades the ES knows one of the bigggest advantages of trading the ES is its liquidity. According to the rules, you cant have more than 500 contracts (i think its 500, correct me if i am wrong) in any particular trade anyway.



Interestingly, most of the charts they showed last night were instruments other than ES and they are all very thinly traded, so there is the rub. The ES doesn't make big breakout moves too often and isn't suited to well for Viper. But others, like crude, or the DAX can fly. Many times during the day, there are less than 10 contracts at both sides of the market.
quote:
Originally posted by catpurley

quote:
To make it real exclusive, they are, of course, limiting the number of subscribers of EACH INSTRUMENT, so you do not affect the balance of the market.




ROFLMAO!



hahaha, i had to do a google to know what roglmao means.... Rolling On Floor Laughing My Ass Off.
quote:
Originally posted by kingkong
Forgive my english, I am a Chinese.



Correction: I am Chinese. No "a" required.
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.