The Trading Authority develops a number of trading systems that provide repeatable visual indicators for traders to take trading signals and exists. One of the systems they have is the Spitfire system which is meant for day traders and it provides very clear entry and re-entry criteria in trades and a number of potential exist criteria. From doing back testing on some of the entry and exist criteria I found the system to have a positive expectancy (i.e., on the long run you will make money if you are consistence and follow the rules). The key as in any other trading system is to follow your rules and be consistent.
I personally found that introducing me to this system is the best value that I received from the Christos Avatar Trading (CAT). CAT is a reseller of the Trading Authority’s Spitfire system and provides a discount on it. However, you don’t need to attend the Christos Avatar Trading room to purchase this system or get training on it. You can buy it either through the Christos Avatar Trading website without the VIP room or find it through other resellers or direction from TheTradingAuthority.com website. I found that the free training videos the Trading Authority provides on their website are excellent. I suggest that you look into them and possible download their free trial for the system.
Here is an example chart showing a potential trade using the ES mini 3000 Chart that you could have taken using the Spitfire system that is very profitable. This trade follows simple rules (sell short when you have a yellow dot and a red TraderTrend bar, and exit when the price goes above the Fibonacci line by 0.25 points). Note that this is just an example trade, and you WILL have many trades that are not-profitable, so use with caution.
George, blog was very good idea, however blogspot requirement to post your real ID when posting comment puts off all the people who otherwise could comment on CAT training.
ReplyDeleteIf it's possible please disable "Comment as" feature, if not, I would recommend opening new blog with ability to post posts anonymously. Enable captcha if you afraid of spam comments for anonymous commenting.
As for CAT training -
PEOPLE, DON'T TAKE IT, IT'S A SCAM!
Toby gives false promises to teach you "sensory" skills that he is incapable doing, only you can, and these takes time (years) and dedication to develop.
About course - save your money, Toby does not teach you trading as such. Trading wise course is terrible and poor, you can download and read those ebooks yourselves, no need to pay $2.700
So called Spitfire system (which is used in training and is hidden cost for another $1.400) is simple MACD indicator for Setup Dots and combination of another freely available indicators which are nicely packaged by Trading Authority and sold for a cash pile. And Spitfire is trending system, that means it is immediately failing system in today's markets such as ES and too dangerous to use on 6E for daytrading. For newbies with limited budget it's overkill, for swing trading - maybe, but you have to have huge account to meet overnight margins and be prepared for big drawdowns. So again it's not for beginners temper and budget.
I could write in depth analysis of this course but I would prefer another blog than blogspot so many more people who took CAT course could join and freely talk.
Be very careful selecting your training and mentor, demand open room, transparency and mentor's trading log! I would suggest start with Forex first using long time frames (there are no successful Forex scalpers). Engage futures only when you learned, gained experience and have proper tools with verified success history. Work with your limitations and fears, read Mark Douglas, use only money you can afford to loose.
Success in trading for all.