Guy Cohen - Illuminati Trading System

This is a discussion on Guy Cohen - Illuminati Trading System within the First Steps forums, part of the Reception category; Originally Posted by disi Don't do it! Keep your money and save it! thanks for the advice - I have ...

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Old May 28, 2009, 12:32pm   #105
 
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Quote:
Originally Posted by disi View Post
Don't do it! Keep your money and save it!
thanks for the advice - I have duly disregarded it!

Guys - I am in. I have gone through the software and been doing a few paper trades. I am a complete noob

Agree with pain in the ass factor with the OX accounts - just a little bit concerned with IGIndex not safeguarding against initial leaps (albeit a rare occurrence)! Also like the Tradesense documentation from IGIndex which turned up in the post yesterday - very impressive looking info.

From what I have seen on ths disks...and from what I have seen when "paper" trading I am suitably excited and think this could really have some mileage in it but I guess time will tell

I'll be monitoring closely and hopefully we can be successful altogether - good luck peeps!
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Old May 28, 2009, 1:13pm   #106
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I think it's good that we can exchange views & ideas like this; it's a learning curve for all us newbie FlagTraders at the end of the day. Thanks for the update Andrew - COO was one that I also spotted, but I'm glad that I decided not to trade it. I agree, taking early profits during uncertain times has got to be the way to go.

I do like your enthusiasm swisdom .. . Good luck to you too.

I think there could be a lot of 'action' coming within the reasonably near future - just my hunch.

And Guy, if you are reading this, please note that your blog updates (e-mail alerts) are really appreciated - . So keep 'em coming, as I for one take a lot of comfort from these regular communications from you.
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Old May 28, 2009, 3:48pm   #107
 
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To start with I am concentrating on Bull flags until I get my head around the whole system - the Bear flags are a little daunting (I know it's just the reverse but I want to be cautious here)

I am finding that it is very addictive and I want to keep checking my progress and thats something I need to curb as I don't want this taking over my life completely!

That said - I might be dipping my toe in tonight.....just for a very low risk taster...
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Old May 30, 2009, 8:58pm   #108
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Italo said:

"Cheers for that Andrew. How early do you take your profits mate? Do you follow Guys methodology in terms of target 1 and then target 2? Or do you just take out profits on target 1 and forget about target 2."

No i'm even shrewder than that! I tend to think i'll take first profits about 70c later !!!

Nothing like being careful.

Someone said that there is a bit of concern with IGIndex regarding no real insurance against sudden leaps in the price. I think this can be managed, as long as you don't trade around earnings or any significant news events + trade during trading hours so that you are not hit by any leaps when the market opens. Guy said this is quite rare using the FT methodology but I can't vouch for that to be honest.

Actually I wonder if Guy got round to asking IGIndex to try and incorporate a tool that allows you to put in a limit for trading in IGIndex so you don't get caught by a big jump? I think he said he was suggesting improvements to IGIndex themselves.

Andy

P.S. A good thing to do is look through historical patterns and see if you can spot flags etc and think would I have traded that, what would have happened etc?

Last edited by andys280176; May 30, 2009 at 9:03pm.
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Old May 30, 2009, 9:08pm   #109
 
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what i'd like to know is, what does it have to do with Freemasonry?
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Old Jun 10, 2009, 3:53pm   #110
 
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Well I am delighted to say I had my first day trading yesterday and ended up with one of my 3 trades becoming active and netting me a small profit. Admittedly I am only doing £0.10 / point but even so thats more than enough to keep me on my toes not being particularly wealthy at this moment in time!

I am keeping an eye on things though and it's really exciting stuff - just looking forward to finishing work on Friday and having plenty of time to myself to really concentrate on it (my other 2 trades are a million miles away from becoming active at present so I'm thinking I was a little too cautious on them!)

All in all I am going to continue with this and hope, between us, we can come out on top.

for what it's worth I went with IGIndex as it seemed more straightforward than Options Express - but haven't yet got TC2000 on my machine but might give that a go tonight

happy trading lads and lasses!
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Old Jun 10, 2009, 7:42pm   #111
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Got two trades on today. Having a bit of a sticky patch, nothing really breaking out. I am very cautious though and tend to cancel trade after one day if it hasn't broke out from the flag. No losses but no gains.

Andrew
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Old Jun 16, 2009, 9:41pm   #112
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Well today I got my first virtual profit using optionsexpress. It was a trade I had kind of forgot about really. I put it on to buy 100 and then after a very slow move to the upside I moved up the stop and sold at a higher price. I could have potentially made a little bit more had I kept a closer eye on it but in hindsight...?

ACF

Bought 100 at $11.19
Sold 100 at £12.75

Because it is virtual trade I couldn't put on one triggers two so couldn't take half-profits. I probably could have put on two half trades and one with limit thinking on it now. This is what you do in IGIndex.

Andrew

Profit of about $122
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