Question:
I have VantagePoint and have been using it without a ton of success. Since purchasing the software, I am down 44% on my account. I have been looking at the predicted neural index and crossovers for short and long-term to trade. Apparently, I have been missing the boat. I am looking for trading plans that use VantagePoint so that I can turn this around before I run dry on my account. Do you have any plans that use VantagePoint that have been successful?
Answer:
Jason, Trading With VantagePoint, One User’s Perspective is an e-book that you should read. You can download it from the Education section on this site. I highly recommend it because it clearly lays out a path that one user followed successfully.
One important consideration with VantagePoint is that it is an excellent piece of software, but it is still software, which is just a tool. In order to be successful as a trader, one needs an edge, a strategy, emotional stability, and quality tools. VantagePoint is a quality tool providing an edge, but to succeed, you need the other elements as well.
For example, the Predicted Neural Index (PNI) and the short- and long-term crossovers you mention are important indicators, but you need so much more to find and confirm potential trades. The key word is “confirm.” Yes, the PNI and the crossovers point to potential trades, but volume, RSI, MACD, and a host of other indicators confirm those trades. In my opinion, the complete package is what makes VantagePoint a quality tool, and it is your abilities using that tool that will either make you successful, or not.
Keep in mind, as you will read in the e-book I mentioned, no piece of software is a magic bullet. If there were software out there that could do all the work that successful traders do, well, all traders would use that software, and all traders would be rich. And we all know the latter part of that statement is not true.
Finally, like any quality craftsperson, knowing what your tools can and cannot do leads to trust— trusting your knowledge, trusting your skills, and, ultimately, trusting your instincts.
Trade in the day; invest in your life …
