The Dow Elevator Trading system is a system that shows you how to trade the Dow in as little as fifteen minutes a day. The sales website claims that this system is 96% accurate (on System 2). This means that out of 72 trades there'll be 3 losses. It is also claimed that this simple-to-learn formula has been designed to identify precise trading opportunities which occur in the Dow. On purchasing this course (manual & CD), you will also receive from 0 to 3 emails per week showing the trades Glynn Mass has made and when they are made.
The sales information claims that with this system you can increase your wealth significantly. Starting with a bank of only £1000; which you can build to £32,000 within 12 months; in as little as 15 minutes a day.
Note: these are actually two different systems - Glyn refers to them as the Dow-Decoded and Dow Elevator Trading Systems which are designed to work together but the Dow-Decoded system is ONLY available to you, if you've purchased the Dow Elevator Trading System...
What you get: 225 page printed manual + CD containing supporting courseware
Its from a chap called Glynn Massey and he reckons is 96% accurate in predicting the moves of the Dow...
96% is quite a claim and unheard of...!!!
Wow! only £297 and I can make over £30k from just £1k in 12 months. So the following year I should be closed to a million :) I better get my cheque book out, oh! and he offers a money back guarantee
The web site is: http://www.dowdecoded.com.
Around a year ago I had an idea for a day trading system. How many times in a typical trading month does the Dow hit the previous day's close?
I've noticed that on the days where there is NO economic data released on Wall St the Dow usually hits (or goes through) the previous day's close.
To give you an example, this morning I sold the Rolling Dow @12585 at 09:13 as it was 29 above the PDC which gave a reasonable profit potential accounting for spreads etc. Just before the opening at 14:30 I bought @ 12562 to give a profit of 23 points. My target is always fairly low, but the system should produce around 10 trades a month.
I've just done a quick back test on the Finspread charts and out of 9 trading days this year, the PDC was hit on 8 of them, and with some good profits as well.
This is the basis of the Dow Elevator Trading System but it only looks for 10 points per trade, and Glyn advocates just trading this method in the morning whereas I'm testing for a 'whole day trade' - the system targets the PDC on non-economic days.
The minimum target for a trade is 10 points but I have had occasions were I've just managed 2 or 3 before the market turns, but the manual explains the working of the Dow so well that you can forsee what's going to happen. I would say the norm is probably 20-30 pips per trade. The market for the Dow Jones with spreadbetters is open a very long time, 7.00am -9.00pm so you can trade at any time but with the Dow Elevator system you can either choose a morning trade (10.00am-2.00pm ish) or a UK evening trade (5.00pm-8.30pm).
Without giving away trade secrets I can say it's not support/resistance or break out. You can use indicators (only if you want confirmation) but it's certainly not based on that.
The DowTrader Trading System was designed to be used with UK spread betting markets. However, it can easily be used for any financial Dow daily cash trading vehicle (such as e-minis). Concerning e-minis, in the UK once your 'pot' goes over c. £10,000 you are unwise to spreadbet anyway, so e-mini futures is the next logical step.
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