"Thank you" to our fellow-trader, Wilson619, for the feedback and the kind words! Much appreciated as it helps us to finetune how we present our system and methodology, and its advantages to the public. Again, except our thanks, Wilson!
To address some of the points in the post:
Yes, we use FatTails's indicators, or more precisely, now an easy-to-install branded version of them, with his permission and blessings. We have looked far and wide for the right tools that work well with BloodHound and support our methodology, and we're very comfortable with our choice of supplier. We have the highest regard for FatTails's work.
Yes, the idea is to find the pullback (more precisely, any of these five setups, or rather four, since we do not trade breakouts). Our system helps you to find the ideal point of entry into a good trade, while being comfortable with the fact that the future is unknown, and not all trades will work. We've been okay with that for seven years now.
To address the point "Also the BH templates take way too long to switch from long to short." This can be a valid concern in certain circumstances, most of which we have no control over. These can be:
- a somewhat slow PC
- NinjaTrader 7 (sorry, we can't change that)
- too many charts open
- more than one workspace open
- too much unneeded stuff running on the PC
- too many bars on the strategy chart
Limiting the number of bars to 500 or so on the strategy chart will, in our experience, dramatically shorten the time it takes to switch between the dropdown menu items (e.g. from LONG to SHORT). This one step may solve all those speed problems.
As to,
"The posted trades on their blog are in sim mode only and are quite obviously selected."
Yes, that is correct. Live trades are never recorded, we have no cameras in the operating room. By the way, we are the only ones who are, to our knowledge, upfront about it, and show the DOM as we trade. We could choose not to show the DOM and say 'this is a live trade'. We have chosen not to do that. As to trades being selected: again, we are the only ones, to our knowledge, who are comfortable with uploading losing days.
"they have an auto setting that I was told never to use(?)".
We don't recall ever saying that. What we recall is comparing our AUTO mode to the autopilot on an airplane: the pilot must know when to use it and when not to use it. Same with our AUTO mode. When you use it well, it will get you to your destination with high probability.
and the last, and probably the most important note: "I found very little edge here".
That is correct, the edge, like most edges, are small. Ask anyone in the 5% who are profitable.
Again, thanks, Wilson, for the tremendous and honest feedback! We hope we were able to provide some context and answers in this post.
Mindful trading!
Ferenc