I sometimes believe that i need to get on every e-mini trading education program's list because my inbox is consistently crammed with the "latest and greatest" new system being brought to the market; the matter is, the overwhelming majority of those systems are just an equivalent rehash of a replacement combination of lagging indicators and moving averages. To make matters worse, these Torque trading systems are selling for thousands of dollars.
As a member of the e-mini trading education community and a devoted e-mini scalper I can only shake my head in bewilderment. While these systems may have some merit for swing trading and longer term trading, I firmly believe that traders' failure to embrace the new technologies coming to the market, as opposed to the traditional oscillator/indicator and moving average systems which have produced a remarkable 90% failure rate for new traders, is a major embarrassment for the trading industry. But these systems keep popping up and I suppose people keep buying them.
I get a chance to talk to a good number of new traders who are taking their third or fourth shot at making a go at being successful in e-mini trading. Further, it is astounding to hear the amount of money these traders have poured into software, trading rooms, and trading programs. It is not unusual to hear stories about investing anywhere from 10k to 40k in their quest to learn. Believe me; I even have heard a number of the foremost bizarre accounts of trading methodology one may think .
So, in no particular order, are some highlights of some trading systems that are sure, at some point, to empty your futures trading account:
1. Buy a trading robot that trades your money once you sleep. One automatic trading system boasted 2,000% annual returns. But here is the problem with these systems, they may work (more or less) well in certain market conditions; but the markets are creatures of many personalities and one simple algorithm is not going to cover a variety of market conditions. I am good friends with a number of professional quants and they are adjusting their algorithms weekly, sometimes daily to keep astride of the current market conditions.
2. You can invest a whole lot of money is the traditional oscillator/indicator system and lag the market. There are scads of these programs out there and they claim phenomenal profits in scalp trading. I've been doing this trading thing for nearly 30 years and can tell you a lagging system will not produce phenomenal scalp trading profits. As most people who have invested in these systems can attest, you will be lucky to eke out a profit, let alone accumulate stacks of cash.
3. you would possibly also purchase an "all in one" system with proprietary indicators, of which the origin won't be disclosed, and essentially trade blind. This type of system might show legitimate profit sometimes , but there are often ongoing monthly fees and required e-mini trading platforms that are frequently of dubious quality. I just tested one the opposite outing of curiosity and was amazed that i used to be forced into trading a platform that didn't include range bars, renko bars, and was difficult to customize to my style of trading. Yep, I traded it on simulator and felt absolutely helpless to adjust my trading as market conditions changed.
4. If you are interested in really devastating your account, buy a mechanical system that includes up arrows and down arrows to indicated trades. These systems have no ability to adjust to changing market conditions and self-destruct in trading channels if you are gullible enough to take every trade. This type of system could be a valuable addition to a system, but as a stand-alone product they usually miss the mark.
In short, look to learn e-mini trading in a system that features a good deal of flexibility and a quality mentor who can instruct you, on an individual basis, in the correct application of the system principles. Study market structure and adapt to ever changing conditions you will encounter on your learning journey. Learn the principles of trading the system to the simplest of your ability and be hospitable constructive criticism throughout the training process. I wish you good luck, and good trading.