Len Pearson is "Prof"

About Prof 
     
Dr. Len Pearson, DVM, PhD,
Founder and Chief Trading Strategist for 
ProfMiniDayTrader, is a veterinarian who retired in 2007 after a 32-year career as a Professor researching and teaching at Colorado State University.  He is the ‘Prof’ on the ProfMiniDayTrader (PMDT) website.  Len says:  “NinjaTrader provided me the way to launch PMDT
 which I am striving to turn into legacy business for my family.  
 I am now on a mission to assist other traders to reach their goals for earning income from trading and to execute effective trades while minimizing losses."
    PMDT had a subscription-based Trading/Coaching Room from 2013 until March 2016.  Interactions with several traders of varying abilities lead to Prof's conclusion that many individuals like the possibility of making money day trading futures, but they are unable or unwilling to devote the time and discipline required to develop or execute a trading strategy that will work well enough to make substantial money.  Prof traded many full sessions of the NYSE over the past 5 years and learned that each day is different.  Repetitive patterns that can be traded because of their predictability occur each day.
    
     Significant trading profits can be made if the trader makes effective trading decisions at the “hard right edge” of the trading screen.  
Prof has built a trading system by working at the hard right edge of NinjaTrader’s screen (front testing) where one needs to make trading decisions:  Should I Enter?  Should I Exit some of my trades or all of my trades?  Should I be patient and wait for a trade to develop or to complete so that I can make more money?  Should I add more contracts?  Should I take some profits now?  Should I move my Stop Loss?  Is the current “Setup” worth making a trade?  If I take this trade, how much can I afford to lose?  Getting the right answers to these questions makes the difference between winning and losing.  Each trading day presents many new challenges as a result of price action, but the PMDT Trading System has been designed to detect and execute intraday swing trades during each trading session.  

An effective day trading system is able to achieve substantial total net profits with high proficiency (minimal losses) during the trading day.   
     An effective trading system has to perform regardless of current market conditions.  Sometimes traders let their emotions override logic when they make trading decisions.  Prof has the philosophy that a trading system should be evaluated by the amount of Total Net Profit earned proficiently and consistently.  Ideally, there should be no losing days and the equity curve for a trading account should steadily increase. 
 View the page accessed by the tab "Prof's Trading Performance" to find extensively documented performance metrics generated from NinjaTrader for each trading day of a 5-month "front testing" trading trial, 
May thru September, 2012.
  
NinjaTrader’s Account Performance module analyzes trading data with over 80 performance metrics and multiple graphs. 
    Prof resumed trading of the two multi-million dollar accounts in mid-November 2012 to gain experience with trade management of large accounts. The PMDT system
 traded daily (about 8:30am to 4:45pm EST) mostly TF the Emini future contract for Russell 2000 and ES the Emini contract for the S&P during times when volatility is increased.   Live and simulation accounts traded concurrently on different computers in the same office played the audio "Order Filled" simultaneously.  Many trade management schemes were rapidly "front tested" using NinjaTrader's Market Replay module.  This remarkable tool enables one to trade any of the available markets with variable speeds so one can observe indicator and price action interactions in “slow motion” and then re-test a trading system when you want to learn if your recent modifications made a difference.  

A  trading system is highly effective if it has no losing days and the equity curve for a trading account steadily increases regardless of changing market conditions.   Prof believes in "Front Testing" at the "Hard Right Edge" of your trading charts.     
    The Net Profit at the end of the first month of the 5-month trading trial met one of Prof’s goals, to earn a Million in a Month.  Two separate simulation accounts on different computers were each funded with $15,000 on May 7, 2012.  At the end of trading on May 31, each account had a cash value of slightly over $1,000,000.   
However, b
y continuing to tweak the trading system and developing trade management strategies that were suitable for the 2 constantly growing accounts, Prof was able to achieve a combined Total Net Profit for both accounts of $59,257,605 when he decided to 
end the 5-month trading trial, September 21, 2012.  This equated to earning an average of about $400,000 each calendar day for May thru Sept, 2012.      
    More recent "Million in a Month" performances resulted from executing the PMDT 
Emini Trading System.  Each trading day is documented on PMDT:

ProfMiniDayTrader’s trading system uses several specifically selected indicators that have been set to help predict a consensus opinion that price movement has arrived at a price action zone in which the market will either consolidate, continue the previous trend or reverse the trend (swing).  Computer-generated alerts help to know when to take profit or when to execute trade management trades to enhance the outcome when the trades are closed near the end of a swing movement.   
    The trading system Prof developed for PMDT gradually evolved by selecting a group of leading indicators that would arrive at a consensus price zone (some traders refer to this as “clustering”) at which time the market consolidates before continuing a trend or swinging to the opposite direction.  Most of the indicators used in the PMDT system are included in the over 100 indicators available in the download of NinjaTrader.
Hundreds of commercially developed indicators along with a growing library of user-submitted indicators and trading strategies are also available. The trick is to choose the ones that best decipher when a Swing pattern is developing and when a Swing is ending because of characteristic price action.  The PMDT Emini Trading System utilizes the best of the best indicators of price action.  Prof's goal of developing a highly effective trading system has been met.  This system works for all instruments.  
    Prof recently decided to abandon my business model of working with a few traders in a conventional Trading Room and help a larger audience of Traders by supplying trading signals generated by my system to sites such as Collective2.com where thousands of traders are able to choose a signal provider that will be used to automatically trade their accounts.  This decision was announced May 16, 2016 (tabs "Home" and "AutoTrading Subscriptions" of PMDT).

Trading effectively involves more than obeying red light/ green light signals.  The trader has to control emotions and execute trades that will harvest profits whenever significant price movements occur in the instrument being traded.   
    When a swing in market sentiment occurs, a red light/green light system for buying or selling can give the trader visual clues about making trading decisions.  But, in order to make serious money, a trader needs to become proficient in making discretionary trading decisions.  This process may take many years. 
All "small traders" have experienced 
watching in dismay when a sudden price movement hits their stop loss and then reverses, or missing a  good entry for a strong, trending price move.  They become victims of market movements caused by the trading decisions of large traders.  Rather than being frustrated and eventually losing a trading account, a
n alternative is to subscribe to a proficient Auto Trading program that can cope with sudden 
market movements. The PMDT Mini Swings Trading Strategy executed through Collective2 performs best when there is volatility.  

I am hopeful that I will be able to achieve my goals of helping many traders while building a legacy business for my family before my contract for life reaches the expiration date.


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