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; JCHohan hasn't responded since August, so its fair to assume that this system does not work!...

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Old Nov 2, 2008, 3:03pm   #16
 
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Joined Apr 2008
JCHohan hasn't responded since August, so its fair to assume that this system does not work!
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Old Nov 3, 2008, 12:12am   #17
 
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Hi Guys

I did post a reply last week but it didnt come up - have had this problem before.

Anyway here's the news, I am paper trading with this technique and it does work - it identifies some beautiful flags that you can trade one - i'm working on my closing skills.

I've made a $1000 on paper - the markets of course are very volatile right now.

Hope this helps
JC
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Old Nov 3, 2008, 9:46am   #18
Joined Oct 2008
Hello JC

Thanks for the update, would you recommend the system to a newbie trader?

Thanks again, heckmondwike07
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Old Nov 8, 2008, 9:38pm   #19
Joined Oct 2007
I subscribe to Money Week and just received the latest "limited offer" to Cohen's Secret-Flags, only 89 places. To avoid any doubt I'm happy to declare myself a sceptic but would be interested in any real results achieved. Bottom line, Holy Grails are hard to come by and in reality there hasn't been one invented yet. Whilst I appreciate people will paper trade to test this provides no proof, in my view. My experience shows (for me at least) that paper results don't translate well to the real world as the physcology is different. Losing £1,000 on paper is different to losing £200 in reality or put to another way, a 20% trading equity loss on paper can be shrugged off but in real life do that a couple of times and your confidence will be shot.
Much appreciate any feedback on real trading results.
Regards, C
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Old Nov 13, 2008, 10:40am   #20
 
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Flag Trader

Hi JC,
I am also interested in purchasing flag-trader but I noted one thing in the blurb that the access to the software that identifies the flags is only for one year so what happens after that do you have to pay annually or what,

gray
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Old Nov 17, 2008, 9:22pm   #21
Joined Jan 2007
Hi Jane (jchohan),
Very interested in knowing how you’re getting on with your Flag-Trader system. Any information on your progress to date would be appreciated. Your work and effort in piloting the system is appreciated by many of us - thanks.
Rich
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Old Nov 25, 2008, 5:33pm   #22
Joined Oct 2008
June,
Thanks for the feedback.

Do you need to be sitting in front of computer all day long placing traders or can you do this in evenings i.e. outside work committments? Can you set-up entry/exit points using your spread trading account (sorry I'm a newbie)?

Have you started trading for real money yet? And is it worth time/money for a newbie to start?

Thanks, heckmondwike07
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Old Nov 26, 2008, 12:34pm   #23
Joined Nov 2008
Hi all

Im just starting in trading and went to guy cohen traning day on saturday just gone. It covered 3 items illuminati trading, flag trader(his new product) and a secret one off monthly trade called ambush trading only being introduced for the first time to the training day people. My initial comments are as follows:-
Day was brilliantly run, hotel food setting great. Guy was inspirational, options trading (illuminati)was a bit tough as i was learning from scratch. Flag trader was where i was just swept off my feet. Its so simple to understand the way he brought it over was brilliant. It takes all technical aspects away, he shows you a process that you rigorously follow. No need to calculate anything just follow 5 steps. The ambush trading secret i cannot divulge as i have signed a contract not to tell but it is amazing but you can only use it once a month. I went home saturday night feeling the money was very well spent. But the acid test is can i get it to work like he did. The software was installed early hours sunday morning ( as soon as i got home) which actually gives you the potential trades and by sunday lunchtime i had easily selected 40 possible trades. Two of them materialised yesterday and i made 100 points on one and 130 on the other. I only have a £500 starting pot so I bet 24p (minimum stake) a point on igindex and took just over 50 pounds, if i kept my nerve and used his last step of managing the trade i would have won more. Amazing, more are lining up now, my pot increased by 10% in one day. So that you understand the time implications (as i have seen amazing things written by copywriters like earn £1,000 per day doing 6 hrs per week) it takes about 15 minutes per day to use the software to locate potential trades then another 30 minutes to assess each one for the novice eye. Then about 30 minutes to set up trades found that comply to the 5 steps. So you are talking about 1.25hrs to check assess and place bets. I have done this for 2 days so is based on what it took me so far. I think that when im going properly the whole process with extended trade searches will take about 1.5 hrs. Hope this helps anyone who is considering doing anything with Guy. For me flag trader is the way to go.
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Old Nov 26, 2008, 12:58pm   #24
Joined Oct 2008
Hello PJChalmers,

Thank you for your review/feedback.

If the flagtrader identifies potential trades for you then does it help you with assessment based on your risk profile or do you do this yourself? Can you also please clarify if trader needs to be sitting in front of his PC all day long to place, monitor such trades or can you do this in evening and wait for trades to move in right direction before you place your bets automatically?

Persumably you can also define your exit points whether they are to minimise your losses or to take profits? 10% return in a day is very impressive so well done and I hope you manage to double your pot within a couple of weeks!

How many trades have you placed so far and what has been your losses to profits factor? Do you only place a percentage of your pot i.e. 3% as your stake? Which markets do you trade in forex or usual stock markets?

I'm seriously thinking about investing in flagtrader software but need to fully understand all concepts before I committ to purchasing. Can you kindly answer above questions?

Many thanks and good luck.
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Old Nov 26, 2008, 1:03pm   #25
Joined Nov 2008
Its me again
Just saw some other comments and questions so will try to answer with my limited knowledge or experience.
1. Buying flag trader gives you one year free software access to flag finder after that you pay a yearly subscription which is i think about £500
2. You dont need to sit infront of the computer screen all day just over 1 hr is fine and can be done any time in the day or night. My initial thoughts are before 2.30 pm or after 9p.m only because Dow is then closed and the days candle is formed so easier to see a flag forming or formed.
3. I am using igindex and yes you set upthe trades on your spread betting account in advance they only trigger if all the criteria are met, if the trade is a dud tand the stock moves the wrong way then you havent lost anything as you didnt trigger it, so onto the next one.
4. Igindex also has a great text system so you can actually simply put in an alert to you mobile if a trade is triggered or hits a certain level, no need to keep checking.
5. Im a newbie to trading but not a newbie to trying other trading packages and been totally dissapointed and led up the garden path e.g pure matrix . Flag trader is not like this so on this point im talking from a position of knowledge.
5. I will keep you informed of my progress
Paul
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Old Nov 26, 2008, 1:26pm   #26
Joined Nov 2008
Hi heckmondwike

I will answer your questions on main site so others benefit.
1. the flag finder software identifies potential trades only, you have to do the rest, assessment risk profile is your job. But let me make it clear there are four more steps to do the software does the first one you do the others. They are very easy there is no ifs or buts its mechanical not guesswork just follow his exact steps. If there is a flag identified you check with the other 4 points to see if it passes the test. These points are easy to do and the answers to some of these tests are also actually available with the answer for you by checking certain data on other free websites, i would say it takes about 4 to 5 minutes to assess everything about an identified flag as to whether you want to trade it. this includes the exact entry exit and stop points I realise im making it sound very easy like a 123 guide but it actually is. I understand why guy makes everyone sign a very detailed confidentiality agreement as i could teach you these steps now all i would not have is the initial identification software, thats why you must go with Guy to get this.
2. Using igindex you set up all the necessary entry exit and stop points before the trade starts so you know your risk and profit targets before you start. Ig actually allows a 24p a point bet so the losses if you get them are small. The thing is if the flag hits and passes the 5 steps then the chance of it working is huge as you have set up a trade that has so many things in its favour the chances of failure are small.
3. I have placed two trades so far and both won. I see this lady jc has paper traded and won £1000 not a surprise if she has applied the steps before entering a trade.

Hope this helps

Paul

Last edited by pjchalmers; Nov 26, 2008 at 1:36pm.
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Old Nov 26, 2008, 2:08pm   #27
Joined Oct 2008
Paul,

Thanks for sharing your knowledge. I would be very interested in your trading results over the next week or so. I have noticed that you recommend Flag Trader over Illuminati Trader. What's the difference between the two? Is Illumninati Trader for more advanced users?

Many thanks, Heckmondwike07
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Old Nov 26, 2008, 3:21pm   #28
Joined Nov 2008
I will keep this forum posted with results and we will see if or if not this really is something good. I am a very system/logical person and the reason i said flag trader over illuminati is that after 3 hrs of illuminati my head had gone even though i gained a lot of knowledge but with flag trader after 3 hrs i knew exactly how to do it and was confident to switch on a computer and be able to start immediately. It doesnt actually need any previous knowledge of trading as you just let the software do its work and then just do 4 more simple steps. Dont get me wrong illuminati is powerful but needs more training to be able to use it confidently but he gave me the illuminati training dvds as part of the seminar so i will learn and do as well i have no doubt it will make me a far better trader. They seem to go hand in hand and using both will make getting profits even easier. To start flag trader has to be the one to take but i think after a while of success you would naturally want to incorporate illuminati. I believe you can use the illuminati trading method on options to almost cover a loss if a flag trade suddenly reverses to mitigate any loss, if it does it almost makes flag trading virtually loss free but im not sure of this point so dont quote me on this one until i investigate more.
Paul
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Old Nov 26, 2008, 11:13pm   #29
Joined Oct 2007
Paul,
Great to hear your experience has been positive and it would be very helpful if you can quote actual trades. Presumably you are allowed to do that as it would be after the event. Ticker, entry, stop, and limit would be interesting to see.
People have different views on risk but anything over 1% becomes exponentially more dangerous as drawdowns do happen. Betting just 25p a point with a 30 point stop is a 1.5% risk on a £500 bank. I prefer to look at it this way as £7.50 doesn't sound like much but as the stakes move > 1% of bank becomes significant, so I view 1.5% as the upper limit. Preservation of capital is crucial and I do know from bitter experience!
Happy trading.
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Old Nov 27, 2008, 2:59pm   #30
Joined Nov 2008
No probs i have two further trades on at the moment and both are winning i will detail them when i close them. May have made a little error though as I placed these trades yesterday not realising it was thanksgiving today/tomorrow, but im up so lets hope this doesnt affect this too much adversely as volume has plummeted.
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