John Carter's Setups: Legit or Lame?

[cooter]

They didn't invent the squeeze indicator, but merely purloined it from the TS Forum. This is why many traders look twice at their operations and see it for what it really, a money-making operation to provide capital for their own trading account.

Nothing wrong with that, except that they didn't give credit where credit was due (does eKam and the rest of the folks on the TS forum get a royalty check from TTM?) and pass it off as if it was their own development, when they merely refined it, and copy-protected their version.

Aside from that, their site is full of tips and insights that you'll be able to glean, as even the free newsletter has videos that do have some worthwhile info for the average and newbie trader. Seasoned traders probably wouldn't care for TTM, but as Barnum and Bailey said, there's a sucker born every minute!

[ches]

Dalby,

I note with interest that you have programmed the TTM squeeze. I have spent more time looking for the code than it would have taken to learn TS and translate it into QT. In addition, most of the stuff I have found is laughably short of what the TTM squeeze shows. Anyway, are you willing to share the code ?

I know I put that bluntly but I don't believe in flannel !

Regards,
Eric

[cooter]

	Quote:	ches
	Dalby, I note with interest that you have programmed the TTM squeeze. I have spent more time looking for the code than it would have taken to learn TS and translate it into QT. In addition, most of the stuff I have found is laughably short of what the TTM squeeze shows. Anyway, are you willing to share the code ? I know I put that bluntly but I don't believe in flannel ! Regards, Eric

Since you've found this site, try looking around, and you might just find it when searching....

Otherwise, if you are a TS user, try their support forum as well.

If you haven't found the ORIGINAL by then, you've probably been looking too hard, and in the wrong places!

[ches]

Cooter,

I'm a QuoteTracker user. I've found all sorts of rubbish in all sorts of places. Maybe it's a wood and tree type of thing but I haven't found anything that looks like the TTM squeeze.

Thanks,
Eric

[cooter]

QT has Keltner Channel and Bollinger Bands. Just use those instead for the squeeze. 20 SMA for both. 1.5 ATR for Keltner, 2.0 for Bollinger are the preferred settings, I believe.

As for the momentum settings, try the momentum indicator, set to 12 or 14. However, the actual "momentum" histogram in the TTM indicator is not momentum or ROC at all, but actually the LSMA of the difference between Price and the mid-line of a Donchian channel.

[waveslider]

Hi, sorry if I am overstepping my bounds here, but in the TS forum I believe this TTM squeeze you are looking for is called "nickmnextmove" - something like that.
This is all free stuff, if you know what you're looking for, who wants to spend an hour going through 72 page long forums to find it! Better to be watching the market and waiting patiently, attentively. Coding can be so distracting, and tempting!
PS does anyone actively apply this to market internals or the tick? That would probably be a decent application. I've watched it on stocks, futures and you better have a bunch of filters and know exactly what you are looking for otherwise it is clutter.. IMO

[cooter]

Yep, but he's NOT a TS user, is he?

[twmoody]

After doing this for a couple of years, I realize this type of question is almost not worth talking about. And believe me, I used to ask the same questions!!!

Trading is about you, not the holy grail play that no one else knows about...

If your beliefs about the market are different that the creator of a play you will lose money with their plays. If you subscribe to a service you end up taking the plays you think are good not every play. So in effect you are actually trading your own system!!! Ability to handle drawdowns and bad trades in a row also affect each individual trader and system performance.

I have been in Carters room and I think they do a good job of teaching and giving a realistic view of trading. They have one of the best systems regarding market internals. The free market videos they do are excellent.


It is almost impossible to backtest most of the plays in the room, because most are discrectionary and to be taken in conjuction with market internals at the time.

So with pivot plays for instance they become reference points to daytrade off of and some people in the room are fading it and other people are waiting for it to consolidate and buying a breakout pullback type of thing.

Money mgmt for the trades always leave the last 1/3 or quarter discretionary and that portion of the trade is paramount to whether you make money or not at the end of the week. So this is another factor that makes it impossible to backtest and figure out whether the average person is are going to make money with the system..

Overall if you are looking to learn to daytrade or swingtrade futures I believe TTM it is worth checking out.



Just my two cents!!!

[ches]

Guys,

Thanks for the suggestions. I subscribe to the TTM trading room and have been there from the start of May. They have just had a new couple of additions. One of the guys who's been trading with them for quite a while, plus Carolyn Boroden.

Either she knows what she's talking about or she's been damn lucky !

Anyway, I thought I'd see if I could get the squeeze to work in QT.

By the way, it's been said earlier, but John and Hubert make no secret of the fact that they didn't invent the indicator.

Regards,
Eric

[cooter]

	Quote:	ches
	Guys, Thanks for the suggestions. I subscribe to the TTM trading room and have been there from the start of May. They have just had a new couple of additions. One of the guys who's been trading with them for quite a while, plus Carolyn Boroden. Either she knows what she's talking about or she's been damn lucky ! Anyway, I thought I'd see if I could get the squeeze to work in QT. By the way, it's been said earlier, but John and Hubert make no secret of the fact that they didn't invent the indicator. Regards, Eric

Yeah, if you check around you'll find that CB is well respected in the world of fibonacci analysis of time-price series. In other words, she's damn good with fibs!

Hopefully, they'll add more of CBs stuff to the newsletters, since they (JC and Hubert) travel a lot lately, and haven't been as diligent updating it as they should.