**Steinitz** Method Revealed Here - page 112
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
If this software is so bad, how come so many people rated it highly in the polls?
The reason is simple. This EA usually performs OK the first few trades. But "no loss" means it never closes a trade. So 3 weeks down the road, when you get a margin call............its to late. Ask yourself, why is this poll closed? The first time I saw this thread the poll ratings were MUCH higher...... then as soon as they started dropping? You guessed it..........the poll was closed. I bought this system when it was $50. Since then the "system" has been updated and fixed to many times to count. After all that......it still sucks. Look at his finish in the Automated Trading Championship. Participant Steinitz - Automated Trading Championship 2007 Of course he makes excuses in his discussion section. Oh yeah, here's some proof on how ignorant Don was when I bought this software from him:
Don Steinitz wrote:
I'm interested to find out how you are able to go back to 2004. I've never seen data available beyond 18 months.
I have the email where I walked him through the process to get backtesting data.Now he's showing backtest results from 1999 on his website.....guess who taught him how to do that.........ME!! I asked for my $50 refund, not because I need the money, but it's the principle of the point. He scammed everyone. Using any stoploss or trailing stop does not help. If it did, he would have won the Automated Trading Championship............or at least finished above the $10,000 starting they gave him.
Well I don't know where the below post went, but I'm reposting it. I was thankful to hear why there were some good posts on the poll. I wondered because I knew Don Steinitz is a dishonest thief, but thought possibly his EA might work. Turns out they are both really really bad.
The one good thing we know is that "what comes around, goes around" so that his future is not that good.
Ooops, forgot to post:
---Quote (Originally by lolpie)---
If this software is so bad, how come so many people rated it highly in the polls?
---End Quote---
The reason is simple. This EA usually performs OK the first few trades. But "no loss" means it never closes a trade. So 3 weeks down the road, when you get a margin call............its to late. Ask yourself, why is this poll closed? The first time I saw this thread the poll ratings were MUCH higher...... then as soon as they started dropping? You guessed it..........the poll was closed. I bought this system when it was $50. Since then the "system" has been updated and fixed to many times to count. After all that......it still sucks. Look at his finish in the Automated Trading Championship. Participant Steinitz - Automated Trading Championship 2007 (Participant Steinitz - Automated Trading Championship 2007) Of course he makes excuses in his discussion section. Oh yeah, here's some proof on how ignorant Don was when I bought this software from him:
*Don Steinitz wrote:
I'm interested to find out how you are able to go back to 2004. I've never seen data available beyond 18 months. *
I have the email where I walked him through the process to get backtesting data.Now he's showing backtest results from 1999 on his website.....*guess who taught him how to do that.........ME!!* I asked for my $50 refund, not because I need the money, but it's the principle of the point. He scammed everyone. Using any stoploss or trailing stop does not help. If it did, he would have won the Automated Trading Championship............or at least finished above the $10,000 starting they gave him.
For those of you wondering why I'm doing this........I'm sick of seeing people getting scammed and getting scammed myself. I only paid $50 for this system when it came out. Don made at least 10 "upgrades" or "improvements" on it. It NEVER performed any better after that. He blames everyone's "loses" on not following his instructions. Thank god I never used any of my real accounts. Now Don is selling it for $200. Don't believe me?.......BUY IT. Run it live for 6 months........Don couldn't even do it for 3 on the Automated Trading Championship which was a DEMO account none the less. Let me know your results.
P.S.....Don, you scammed the wrong guy. You want to play? Start a live demo account TODAY, post the account ID, password, and server, ON THIS SITE. Use your "best" settings......leave it going for a 6 months. If it profits........I will take back everything I said.
Every loud mouthed weasel that defended this piece of trash before even educating themselves on why it can't work, has long slithered into the night unable to swallow pride and admit they were actually wrong.
You've shattered my illusions now
There was I thinking that we no longer heard from the likes of WHTenn and Blusky because they where kickin it in the caribean whilst the Don Steintz miracle EA took the strain.
This thread is not related to any EA. Some people are using this system manually so that is why this thread was not deleted and was not closed. But as the discussion was started about EA so I am closing this thread.
Steinitz HAS system
I have been testing this system for some time now and have made an observation which I would like to share and if valid would like to develop inti an EA or some kind of alert. On the H1 chart with all 4Tf-HAS bars set up you will have TF1=60, TF2=240, TF3=1440, TF4=10080. I have noticed that at the point when TF3=TF4 (blue/red) a trend has started and on the H1 can or course be substantial, pip-wise - exit can be found on the TF2 bar when it turns opposite colour. The trending seems to work at all TFs..any ideas how to develop this into an EA? I suppose it could work as a manual system on the lower TFs with an alert.