swisstrader1

Hey Tim, lots of time has passed since the above post and I was wondering if you could post some more of your results/stats regarding your Approach? Thanks

Having had insights into mainly FX brokerage firms I can tell you that traders with accounts of 5000USD or less (or was it 2500?,not sure) over 90% wipe out their account in less than 6 months! Mainly those losses were built because the initial investment was so small that those newbies gambled and did not apply any risk management (also because those bucketshops traded against them when they didnt lose). Also, I believe that success has not much to do with cleverness, rather with "deliberate practice" and learning to trust yourself, your method and learn to trade in a focused manner controlling risk! successful trading has much more to do with beeing a professional athlete than some "intellectual genious"!

Does any other company provide a similar tool than CQG´s orderticker? Im sure its a great tool but 600$ a month is quite a lot...

I always trade with a stop in the market and my stops are quite close (maybe too close?) to the market. In the FDAX, which is my favourite market, my stops are generally about 8-12 ticks (4-6 points). I put them in the market and I dont believe the market is evil and hunting for my stops (come on, who cares for my few contracts?!). However, i might move them further away if I think im correct in my thesis for this very trade if f.e. price is trading down to my stop on very little volume and I see buyers lifting the offer (if im long)! I do exactly the same thing if I think im wrong though, meaning I might have a 10 tick stop in but might close the trade at -4 ticks f.e. thus limiting my losses. That way i am able to decrease my average loss to under 6 ticks although I mostly using an initial 8-12 tick stop. That stop is not based on a number of ticks but on market structure where I put the stop 1 tick above/below the previous swing/bar high/low. I have heard many times that placing a stop 1 tick above/below the bars high/Low is a suckers play, but honestly I dont see any other logical placeto put the stop unless there is a nerby support or resistance level to lean on (which might increase my stop but at the same time i decrease my size)! Maybe someone can give me an advice on where you would place your stop in a countertrade? Lets say the market trades up to a resistance level and you get short because you think buyers are running out of steam. Where would you place the stop if price got rejected at resistance? 1 Tick above the bars high?

@laguna, thats exactly why I wrote this post. I read those posts how good huddy and channel-trading is and it almost made me puke over the keyboard so I had to write my experience on that and look at the response, 30 newly registered members beeing extremely defensive about their "hero"...

@Hawk I have already mentioned that yes, I would be very willing to let a moderator or any trusted person of this forum check out my records to see that its all true what i wrote but you arent serious when you think that I would let some "Tippet" who has just registered to this forum and who is probably huddy himself look at that info again. I think I already did this forum a favor as I brought about 20 new members to this forum (all with 1 post how great huddy is :rofl:) ...:doh: So, yes, if there really is a mod who wants to check out my records as proof then contact me!

1.) you are right, 50k is not a lot but if the risk per trade is under 2000$ then it is a hefty drawdown especially for a guy "that keeps losses small and lets winners run!" :doh: Its really not the money he lost which shocked me but the way he lost it. 2.) well i was a member of his room and watched him "trade" (make calls) which was ok but he refused to give out a livetrading statement.instead we got his excel spreadsheet as track record of his calls. normally i would have never cosidered that but since i did spent some time in his room, decided to test him as a trader where he miserably failed. 3.) of course not. We had a defined risk limit and he exceeded that and that was the end! 4.) i agree and nobody is whining here. all i did was post my experience as a member of his room AND as a person he has traded for so I think i can provide a lot more insight to his trading than someone who has just been to his room! Its so funny that all you "just registered members" defend him so heavily.:spam:

Dear MadMarketScientist, thanks for your post and that you let me openly express my opinion/experience. Members (who actually just registered solely for answering to my posts and for defending channel-trading ;-)) are calling me a liar and I find it absolutely amazing, as the only one´s that know the truth is me and kevin and his partner. Why dont you guys just approach kevin and ask him if he traded for a swiss asset management firm this year and ask him about his performance :-)! Also, what benefit would I get from bashing some system vendor/trading educator ?? I dont sell/promote anything... Look, I have been in many trading rooms and what many of you would not argue is the fact that most trading rooms are not worth the money. When I first joined channel-trading I also found huddy a very kind person and thought his calls where solid. However I found that many calls were certainly not as precise as another member mentioned before where you know your entry price right away and you place a limit order, it was rather a "i went short up there" and "you should have your scale off by now".... Anyway, all of that is not really important because here are THE FACTS: FACT Nr. 1: Huddy traded for us for about 2 months or so! FACT Nr. 2: Huddy did nothing but LOSE MONEY VERY CONSISTENTLY! FACT Nr. 3: Huddy posted different (positive) results on his twitter page! @ Moderators, as I had already said, I would be willing to prove that every single word I wrote is totally the truth. I would be willing to let a moderater connect/see my computer/screen with all the email references between me, kevin and his partner and show my account statement of the losses that huddy caused!

I will not get into a lengthy discussion here about whoever´s credibility. I think sooner or later we all came across "educators" that seem to be good traders while they are truly o(at best) maybe good analysts. To make a long story very short. I (part)own a small swiss asset management firm and kevin hudson (huddy) from channel-trading traded for us for a short period of time and i can tell for FACT based on the live trades he took, that he did nothing but lose and that VERY consistently! It was not so much the fact that he lost 50k in a heartbeat but the way he lost it. If you think Im making this up, I could send some moderater our agreement with huddy as well as the live trading statement and some email reference with him. I also know a couple of traders that have been in his room for a few months and all of them had the same issues. Huddy makes very often calls like "I will be looking to sell in that area..." and when price gets there you hear nothing from him (let alone you will never see his DOM). If the market acts as "called" he of course took the trade and "you should already have a scale off now" and if the market blows through the level he is "glad I didnt stand in front of that!" Its this would have, could have, should have stuff and I dont know about you, but "would have, could have, should have" does not make you any money in this business!

@Koifan, sorry to spill your enthuasm but Huddy is NO WAY a profitable trader. He lives solely on the (good) money he makes from "educating" others! You might learn a thing or two in his room, no question, but in the end it comes down to the point, can he make money solely trading?? I have seen him trade live (not just in the traderoom but executing live trades) and all he did was lose money, very consistently. He lost over 50k in probably about 6 weeks (while he was still posting positive results on his twitter page) and its not even the fact that he lost money, but the way he lost it. He did not follow his own rules, he constantly took 3-4 tick profits (only about 15% were winners, seriously) while losses were far bigger!! Anyway, I gotta run but after reading those positive posts about channel-trading and huddy it made me want to puke! I can prove that everything im saying here is nothing but the truth but let me ask you this? Did you ever SEE huddy execute 1 trade even on demo? Did you see his DOM putting his order in? Let alone he will NEVER EVER send you a trading statement. (Hey, I could send out a trading statement of him and you can compare that to his twitter posted trades and you would be shocked)! You might think he´s a nice guy and maybe he is (i kinda liked him too) but one thing i know for sure, he does not live on trading but on "educating"! Choosing an "educator" that can not make money for himself?? hmm, maybe not so wise

Yes, i found that out and have his PDF (unprintable) book now but thanks for sharing again!

I liked Tom Alexanders Book "Practical Applications to Market Profile"! It really helped me with my risk management to be more agressive with entries during the first hour (IB) and less agressive after the IB as about 2/3 of the time the High or Low is put in in the first hour. A great trade f.e. is when you are in an overall higher TF downtrend and you trade up to a naked POC and you see sellers stepping in to take a short. If this happens to be in the first hour (IB) then that is a HIGH probability short trade with awesome risk:reward ratio because now its likely that the current low of the day will be taken out. As Tom stated in his book, 95% of trading days have range extension so if you caught the possible high of the day, which is not so unlikely with the set-up i descibed above, then chances are you will make a new low. I use oderflow to manage my entries! Other books I can recommend on MP are the Daltons books (Mind over Markets, Markets in Profile)! I havent read Don Jones, as they dont ship overseas :-( but im trying to get it somehow! Hope this was useful!