Day Trading For Income DTFI Day Trading Strategy

[FrankTheTank]

I know this is not forex, but, I want to discuss this trading method for the emini S&P futures market. I started to follow this system a few months ago but got side tracked with news trading

What is Day Trading For Income DTFI?
DTFI is a day trading strategy/method which scalps the 1 minute emini S&P futures index. It is taught through downloadable videos and a free live chat room with the sites owner Jody McKonkey. Although the homepage looks like a typical "sales pitch" trading system, I can assure you it works and it is not like the rest.

Here is what I like about this program:
1. It works. Jody posts honest results and I have traded it on a demo account with good results.
2. Its easy to learn. Just one or two weeks on a demo account and you should have it mastered.
3. It makes several trades per day giving you a constant source of income.
4. Jody teaches using a downloadable manual, 15+ videos, and a live chat room (trade live with others).
5. Set stop loss and take profit on each trade (no guess work).
6. 30 Day money back guarantee. Nothing to loose.

Negatives:
-Stop loss is greater then take profit point. You need a high win rate to make money (which this system has thankfully).
-Have to pay for live data feeds to trade the emini S&P. (however, I think you can get some free demo feeds).
-Must watch your computer charts for at least 2-4 hours per day (this is the main reason I have not actively traded this yet).

After recently watching all of Jody's videos again, I can honestly say this is one of the best organized and well put together trading systems that I have purchased. Plus it really works. Results have averaged over 30 points ($1,500) per month per contract with little draw down (I estimate over 50% return per month on an average account).

Link:
www.daytradingforincome.com


Update - Price dropped from over $500 to under $50

[Hume]

When it comes to stocks, nothing can beat good old Darvas. You can get his great book (which is also funny to read) free here as a e-book:

http://www.nicolasdarvas.org/

[FrankTheTank]

I will have to check that out. This DTFI system is trading the emini index. Just found out from Jody that there were only two weeks of trading in December. I think they only made like 6 points but it was the toughest month yet. So far January looks to be back on track with 20+ points per month.

[FrankTheTank]

Just took at look at the charts for this week.

Monday: Holiday
Tuesday: -0.25 pts
Wednesday: +3.0 pts
Thursday: +0.75 pts
Friday: +3.75 pts

12 total trades
11 wins
1 loss

For those who do not know, 1 pt is $50. So this system returned 7.25 pts or $362 per contract traded. I would have traded one contract for every $1500 in my account giving me a return of 24% for this week.

I will keep everyone updated.

[Hume]

Hi Frank,

Sorry to ask, but do you get money by promoting this day trading system (and Tom's trading manual)?

[FrankTheTank]

Hi, yes I post my affiliate link for any system we discuss (when available). However, I would not promote anything which I did not believe it or which does not work as stated. Hopefully after creating this forum and all the good information I try to provide that people will realize I am not a scammer.

In regards to this DTFI system, my goal is to provide a log of my account and my trades so other people can see it. If it continues to do well, hopefully people will buy it using my link. If it does not do well, then it is only my money and time that is wasted.

[Hume]

Originally Posted by FrankTheTank

Hi, yes I post my affiliate link for any system we discuss (when available). However, I would not promote anything which I did not believe it or which does not work as stated. Hopefully after creating this forum and all the good information I try to provide that people will realize I am not a scammer.

In regards to this DTFI system, my goal is to provide a log of my account and my trades so other people can see it. If it continues to do well, hopefully people will buy it using my link. If it does not do well, then it is only my money and time that is wasted.

Frank,

OK. Nice to know. But you forgot a affiliate link to Felix.

[MarkSteveND]

I do not have any experience with futures trading. What kind of broker would you need for this? Would any online stock broker do?

[FrankTheTank]

Most brokers have access to futures contracts. This particular system trades the emini S&P index which is offered through the Chicago Mercantile Exchange (CME).

I personally use Infinity as my broker (http://www.infinitybrokerage.com) and absolutely love them. I am on the phone with my broker at least twice a day which is unheard of for most forex brokers. In fact, I have been trying to reach someone who can change my account at IBFX for the past two weeks and they keep telling me to send an email.......


Today I traded this system in the morning and lost in the morning session because of some news announcement (shot the price against me). I then had a winning trade around lunch time and another win in the afternoon making a light profit for the day. Its fun being able to trade with other people in a chat room.

I will keep posting my results as I go through the proccess and hopefully some screen shots at the end of each week.....

[FrankTheTank]

Took 4 trades today, 3 wins and 1 loss

Pts:
0.75
0.75
1.5
-1.75

Total: 1.25 pts


So far I am down 0.75 pts for the week. Hoping to make it up tomorrow.