JonBoy

Rparmar80, yeah fair point, I guess it's the old chestnut of quantity vs. quality and having the discipline to wait for your predefined entry criteria to set up correctly.

Contrary to my earlier point, maybe Rubber Band could be effective on a very short term time frame, but not as effective. As I'm sure you're fully aware, the longer term the time frame, the less noise and therefore the cleaner the signals you get.

In any case Barry cites and covers many combinations of time frames that can be used in conjunction, going to the longer for confirmation and vice versa, etc. Pick whichever suits your personality, trading style and account size.

As MarcusPlexus says, at those prices you can't really go wrong. Wishing you all the best of success with it anyhow.

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rparmar80

I purchased Top Dog course 1 & 2 bundle recently and I must say that the courses are pretty decent for a beginner. Barry takes 50-SMA, 15-EMA, and indicators such as Stochastic and MACD with custom settings and puts together a good trading system for entry, exits and money management. If you are relatively new to trading or feel lost or have been losing money in day trading, this could be a very good starting point in your new journey I think. However, to be frank, while I did learn some new stuff, I do not feel that I learned anything that can change my trading significantly.

My basic concern is whether the trading system/strategies he mentioned really work. The reason I say this is that Barry does not provide any empirical evidence behind whatever he recommends. I have a programming background and over the past one year I have extensively back tested some of the indicators he uses but I have not found anything that truly worked. Granted I have not tried the setting he uses but I am very skeptical based on my study/research so far. Similarly my past research has given results that go against some of things Barry has to recommend on trailing stops and scaling out strategies. So I am obviously not convinced.

In conclusion, it may be better to spend $295 on this course 1 & 2 bundle than spending thousands on courses that teach you more or less the same or things that sound appealing but just don't work. Top Dog courses could be a very good starting point for a new or unprofitable trader but to think that based on these courses one would turn into a consistently profitable day trader would be naive. Hope this helps.

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JonBoy

In terms of technical entry & exit rules, the ones outlined in the course are as good (high probability) as any, it's a full "good to go" system.

In my opinion what is key, is the discipline and psychological self control to adhere to the entry / exit rules, so as to allow the statistical probability of the trading system to work in your favour over a period of time, or number of trades.

No trading system is infallible, there is no "holy grail" and all will generate some losing trades. It's about designing a system that gives you a statistical edge and sticking to the system. Like the house edge in roulette, it is just the addition of a zero to the wheel (on European tables this equates to a statistical edge of just 2.7%, 37 slots - just one zero), but over time it ensures the house comes out profitably.

I hate using gambling analogies, as I don't regard trading as gambling (only in the sense that counting cards could be described as gambling, but with tight risk control).

Just my two pennies worth.

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JonBoy

Dude, in all seriousness (and please don't take offense), but how can you possibly have evaluated and drawn concussions on the Burns trading methodology.

The stochastic and MACD settings are RADICALLY different from traditional settings, in fact MACD is used in a totally different way to the traditional method of analysis.

My personal opinion is that trading is more art than science, it's all very well pumping numbers into a computer program but a computer program cannot for example pick out visual nuances in a chart pattern. I've always held the belief that a computer program cannot predict something that is essentially driven by human nature.

Just my opinion and like I said, no offense.

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rparmar80

Simply because Barry's settings are radically different from commonly used settings doesn't mean they work better. I have not tested Barry's complete system - in fact, there is no single system he talks about. He talks about various things and you can decide how you want to develop a system based on that.

Talking specifically about his Stochastic and MACD settings, what I meant to say was that I have spent a lot of time in the past on writing and running scripts to FIND OPTIMUM SETTINGS regardless of the entry/exit methods (and hence evaluate the incremental impact of settings). There is NONE that works well consistently for multiple time frames and multiple stocks over a long period of time. That is why I question Barry's assertion that %K = 5, %K Smoothing = 2, %D = 3 are the best setting for Stochastic for all time/tick frames, for example. He may be using MACD a little differently in terms of settings (MACD Line being a difference of 20 and 5 ema instead of traditional 26 and 12) but not a whole lot in terms of how he uses it - many systems use the MACD the way Barry does.

JonBoy, every teacher out there may talk about best settings for technical indicators of their choice. But the question is how do you evaluate which ones are better, if any, in absence of a lack of empirical evidence? We can have an open and more detailed discussions around these settings if you think Barry's settings are one of the best.

I agree with you that trading is more art than science. And art is not something you can learn through a 2-course bundle for $295. However, the science part is also important and it's the only part we can rigorously test and evaluate. And we can certainly discuss our results here. Once again, I did not pass a judgment on Barry's trading systems. I am only questioning elements of it based on my past experience.

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houndog3

I took it. and it helped me a bunch!!This is my 1st year of trading.Iv took my 1st course and paid a 1000.00 for it.(dont forget i was clueless about the market)and that help me to learn candles and charts ect.but dr burns open my eyes to understand the market.yes i chringed at another 500.00, on the other hand the way i looked at i could lose 500.00 in one trade.Dr Burns customer support is top notch!!! I would email a question and i would get a reply in a few hours or less.Just remember he does offer money back guarantee..Take it trade it on the simulator and see what you get from it..good luck

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DREBG

Brrrrrrr!! Hey, Simit- Is it me or is it getting aweful shilly in here!?

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THE GREATEST RISK IS NOT TAKING ONE...

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daryl676

Its not you, its really shilly in here. I was thinking the same thing.

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Simit Patel

hey daryl, DREBG --

could you clarify what you mean? do you mean you believe this thread is "rigged" (people trying to give excessively favorable reviews to boost sales. presumably this would be either informedtrades LLC, which profits from reselling top dog trading, or top dog trading itself, which naturally profits from sales of courses)

some of the initial comments did raise some IP flags, which were noted early in the comments. the later comments, though, seemed legit -- or at least legit enough where i did not think there was enough evidence to warrant censorship or interfering with the conversation. of course some of these commenters have only commented in this thread, which is a potential flag, but then again there are many commenters who only leave a few comments in a single thread. i honestly thought folks were providing good insight for those looking for a review of the course, but maybe not?

what actions would you recommend? do you think it is time to close this thread?

asking these questions sincerely. thanks for taking the time to raise concerns about the temperature -- it is important in every way to create a warm environment.

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rparmar80

Simit, I have responded only on this thread I believe but as you can see I have raised some questions/concerns about top dog trading courses. Before I decided to buy those courses, I did some search but couldn't come across any genuine reviews. That is why i decided to post here so that those who have been considering to buy Barry's courses can find some honest review as well. I had hoped people would ask questions here so that I can tell them more but the tone of some responses has been very different.

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