I love a skeptic.
Someone who wonders – is this possible for me?
Over the weekend, Michael, (if memory serves it was Michael) wondered if he’d been scammed. Others were more… shall we say colorful in their comments and opinions.
Check out this video (and the next few videos) and decide for yourself.
Oh, by the way, no swearing guys. My mom reads my stuff.
{ 31 comments… read them below or add one }
The average true range of 90 for the first trade results in 270 at three times the ATR, not 180.
Please hand eyes killing me
Great example of money management
Mistake in computing first trade total should have been $270.
Bob L.
Stop was moved up to 1.9873 NOT 1.9807 giving a $212 protected profit NOT a $80 protected profit. But we get the picture amyway. Did you have to stop for dinner during while you were taping?
Ok so you made an error with the 3 X 90 , so what.
The main point is that the concept of not risking too much of your capital and still get an excellent return is the main point and an excellent one a that. Good stuff.
>>>LOW RISK SYSTEM…BIG RETURNS<<<
That’s what I’m talking about! Great M M video.
I’ll have to watch it a time or two for it to sink in but for the most part I for one understood what you were doing and can see how trending is the real deal.
PLUS I could wait 10 or 12 days to make $800+or- on $3000. The only time I’ve done better is in my Option trading account.
I can see where a $3K account could grow fairly quickly following this money managing tactic.
Thanks for sharing this excerpt from… I believe you said the Dallas Event/
P.S. the miscalculation of the trade amount wasn’t a big enough concern to call you out on, the emphasis of the tactic outshadowed that minor mistake.
D W
Correction: 3 times the ATR of 90 should be 270 instead of 180.
Actually, two errors. 3 times ATR is 270, but also the 2nd entry on 6/19/07 had a stop that was higher than the entry point. As if the percentages were not confusing enuf……(;-)
Great video Mac.
I have come to the realisation, that money management is the secret to succesful trading.
Beign a viet-nam vet., i understood that staying alive to fight another day was a better alternative.
c.f.colon
If the ATR was really 90, then the 3X multiple would be 270p of course. That would change several things including your original target.
I don’t believe I have seen this material in any of your training up till now, but then I wasn’t at either Dallas or Orlando so that may explain it.
RY
I am a Plus member so I have had the opportunity to view this video before…BTW I highly recommend getting the Plus membership. There are additional daily videos, webinars and additional information is accessible on the web-site (e.g. Dallas videos). At times I feel there is too much information but I’m convinced this premium service will pay off over time. The mistake was in reference to the 3 times ATR of 90 PIPs which was stated as 180 PIPS. It should have been stated as 270 PIPS.
Seeing as all calculations were based on 180 pips I believe the error was stating 3 times the ATR instead of 2 times
For the Orlando videos, I vote for Gaetano from Canada.
If ATR=90 then your statement of 2xATR=180 is false. Should be 270. Big difference and it changes it but the concept remains the same. My first peek at a Dallas video! Woohoo!
I agree with everyone else. The error was in calculating 3 times the ATR of 90 at 180 instead of 270.
For those who want to be successful traders,.. stay the course! There is no deception and this is not a scam. Yes mistakes are made and occationally people will let us down. Market dynamics change and circumtances may change but people’s behavior do not! If you search long enough, you will find some fault in everyone. If you can forgive the fault and focus on the good, with patience and endurance, you just might find the treasure that you were looking for.
The mistake is 3 times ATR=180. It’s 270
I’m not in this for the math. I’m in it to learn the process. I can do my own math and don’t need to spend my time pointing out the teachers mistakes.If I can understand the method and make money It has worked and worked well.
Great video, Mac. Obviously everyone seems ready to jump on any miscalculation in regards to multiplication. Hopefully the point of the instruction isn’t missed. You’ve illustrated the concept well. I’m one of those that’ll have to watch a few times for it to click.
I guess we’re supposed to point out the mistake so we can get in on the drawing? The error was in calculating 3 times the ATR of 90 at 180 instead of 270.
Hi Mom!!!
I agree the error is the calculation of 3XATR. It should be 270.
Good video and concept. Also wild guess , but Brent M = Mac X “Hi Mom”, Only you Mac, Your a good Son.
Great example of how it’s done Mac. The principle is the same when using 270 instead of 180, so the error isn’t relevant.
Thank you for sharing this and hopefully many other techniques some of us (me definitely) missed out on by not having the time, money, etc. to be at the Dallas and Orlando Events….This makes perfect sense and does incorporate what we have been taught but with a little more finesse (and profit), but will take a triple look with note taking and actual trading situation to really get into the brain…..BUT, THANK YOU and KEEP ‘EM COMING….I am all ears and eyes…I, and those with any sense, are very appreciative of your knowledge, skill and willingness to share what you have no doubt learned the hard way….thank you and staff….chuck
We all make errors, but I guess people want to hold the experts to a higher standard.
3xATR= 270, not 180.
I think the fact that the mistake was caught so easily and readily by everyone viewing the video is a testiment to the good training from Mac.
JAN I do not care of Mac ATRs mistak until they will be visible on my financial statement or margin account.
Thanks Mac
Great service, great intuititive sense of what is going on behind the scene.
Not interested in even commenting on what are non material matters.
Regards
Bernard Kelly
Hi Mac,
really enjoyed this – not a plus member so unable to comment on other information available to those members. However wondering if there were any relationship between using ATR targets and Fibonacci targets?
BYW – pygmies in Africa not Australia
There were two mistakes actually, one with the ATR calculation, 90 X 3 = 270 not 180 and pygmies are in Africa, not Australia. Those are Aborigines.