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; Hey everyone I'm also new here and am trying locate anyone who’s had any prolonged real time success with flag ...

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Old Feb 20, 2009, 10:10pm   #61
 
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Joined Feb 2009
Hey everyone

I'm also new here and am trying locate anyone who’s had any prolonged real time success with flag trader. I haven't used it myself (I currently trade FX) but have reviewed illuminati trader from guy cohen which is his options based system. From what I can see flag trader was born out of illuminati using the tradefinder software to identify and trade continuation patterns on bull and bear flags (a prerequisite for an illuminati set-up) but on spread betting account which is a fair bit simpler than having to calculated options prices etc.

From everything I have read flag trader seems to be a simple and profitable system you can manage outside 9-5 hours which is good for a newbie.

Just to clarify – I thought the illuminati system was very comprehensive and the only reason I didn’t keep it was I just can’t seem to get my head around options! The methodology is sound though.

What I can comment on is my experience with guy himself. After writing an email to the support team regarding the illuminati system guy personally called me himself to answer the question. It was a nice gesture from someone who really didn’t have to take time out of his day to do that. He was as helpful and genuine as they come. I appreciate that I was a client but he must have many.
Anyway back to topic. Everyone still having success trading the flag patterns...?
Many thanks
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Old Feb 21, 2009, 6:02pm   #62
Joined Sep 2006
Hi

I was looking at trying the FT out but have failed to find answers to some simple questions:

Can I fit this around my work i.e. when do you seek out to trade. If the system spots a trade is it likely that you have to execute that trade there and then or can you set it up to seek out and execute trades when you're not there? Sorry I haven't any experience yet of trading stocks so my questions might seem a bit obvious to some.

Is it US or UK stocks the system targets?

It seems that it is very simple to use but after reading here it sounds like quite a lot to understand or is it quite easy to pick up?

Thanks

Andrew
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Old Feb 22, 2009, 10:32pm   #63
Joined Jan 2007
Quote:
Originally Posted by andys280176 View Post
Hi

I was looking at trying the FT out but have failed to find answers to some simple questions:

Can I fit this around my work i.e. when do you seek out to trade. If the system spots a trade is it likely that you have to execute that trade there and then or can you set it up to seek out and execute trades when you're not there? Sorry I haven't any experience yet of trading stocks so my questions might seem a bit obvious to some.

Is it US or UK stocks the system targets?

It seems that it is very simple to use but after reading here it sounds like quite a lot to understand or is it quite easy to pick up?

Thanks

Andrew

Hi Andrew,

I believe that most if not all your questions can be answered from the Guy’s FT web site at Flag Trader Stock Consolidation Chart Pattern Trading Home If not the web site has contact details for you to post question about the product.

Please note this is not a recommendation or endorsement for any of Guy’s product(s) as I have never used any of them

Richard
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Old Feb 23, 2009, 10:20pm   #64
omi
 
1 Posts
Joined Feb 2008
Quote:
Originally Posted by pjchalmers View Post
Hi Guys Im back

Thanks for a lot of private messages asking where I was. Im still trading flag trader and its still going well. I dont think its possible not to. Have been seriously ill so been out of things for a while. Anyway flag trader is going well and I have had many successful trades with only a few losses.

***************************Need to Read This****************************

Had a great opportunity to trial something that isnt even out yet. I was in the right place at the right time and was asked to trial a new trading system. It works a treat and makes on average 20 points a day so a £5 per point is making me £100 per day. It actually compliments flag trader as I find with flag trader its check it once in morning, set any traps you see and wait. This one is sort of intra day trading and is working a treat. They really do well together but this is based on the FTSE. This one is good because the stop loss is very small but the gains are very good. It isnt released yet but it is only going to be sold as a training day with the first one soon. There is no website yet, its that new. If anyone wants more info let me know. I believe the training day price is aimed at normal people expectations not the £3k to £5k ones you see advertised just like the roxy trader one that floating around at the moment. Im using both systems now and its making me a lot of money.

Paul
HI,
I WOULD LIKE TO KNOW MORE ABOUT THIS INTRADAY SYSTEM + HOW YOU ARE GETTING ON WITH THE FLAG TRADER SYSTEM
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Old Feb 23, 2009, 11:05pm   #65
Joined Sep 2006
Silence is deafening!
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Old Feb 24, 2009, 10:14pm   #66
Joined Jan 2007
Quote:
Originally Posted by andys280176 View Post
Silence is deafening!
Andy,
I believe that I replied to you - please see post #63.
Rich
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Old Feb 24, 2009, 10:47pm   #67
Joined Sep 2006
Oh I was just generalising about the lack of feedback from users of this new system, not getting at anyone. Thanks for your response. I am going to give the system a 30 day trial because I am curious about it and have not traded before so might like it. I do like working with computer systems and work in IT so might enjoy doing this as a way of building up capital.
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Old Feb 26, 2009, 5:51pm   #68
Joined Jan 2007
Quote:
Originally Posted by andys280176 View Post
Oh I was just generalising about the lack of feedback from users of this new system, not getting at anyone. Thanks for your response. I am going to give the system a 30 day trial because I am curious about it and have not traded before so might like it. I do like working with computer systems and work in IT so might enjoy doing this as a way of building up capital.
Andy,
For what its worth, my understanding is that the new intra-day system (not FT) is not even in beta testing- as at start Feb. It would be very interesting to have some more info about it and how it’s performing from pjchalmers. However, I’m not holding my breath, Guy’s customers only manage at most two or three posts on the board before they seem to be snuffed out. I personally have this image of them all making so much cash they just have no time to drop by and post updates for the rest of us – I hope I’m right.

Rich – just not at the moment.
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Old Feb 26, 2009, 8:33pm   #69
Joined Sep 2006
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Originally Posted by stevensri View Post
Andy,
For what its worth, my understanding is that the new intra-day system (not FT) is not even in beta testing- as at start Feb. It would be very interesting to have some more info about it and how it’s performing from pjchalmers. However, I’m not holding my breath, Guy’s customers only manage at most two or three posts on the board before they seem to be snuffed out. I personally have this image of them all making so much cash they just have no time to drop by and post updates for the rest of us – I hope I’m right.

Rich – just not at the moment.
What I can't get is that Cohen says trading volatile markets is what this system does best at but his blogs stated (around about sep-oct 08) stated that the market was in a bad way and people would need to sit tight. Is this not exactly the ideal opportunities to use this or is it that he mean't 'bad way' as in they had just bottomed out?

He didn't say bad way specifically but it was words to that effect.

I also think you need to trade a bit more than he says (20 mins a day). Maybe you can once you have really mastered it but how do you recognise opportunities throughout the day - as we all know the market continually changes - and do all this in 20 mins.

Mind you he did state that sometimes you only have 3 or 4 top notch earning opportunities per week so maybe that is what he means. The crux of the system seemed to be that the system selects only the best of the best looking trades so you might only have a few per week or none at all.

Andrew
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Old Feb 26, 2009, 10:06pm   #70
 
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Joined Feb 2009
Andrew

From my experience the illuminati system is better suited to volatility as there is no bias to market direction. There just needs to be a fairly decent move either way to make a strangle options trade profitable (placed during earning's season).

After speaking with Guy and also having read those blogs it would seem that it is better for flag traders to have a clearer picture of the wider market direction (up trending or down) in order to know whether to favour bull or bear flags.

I want to thank the guys who were using the system and were kind enough to post their thoughts on here but it would be really helpful if they could give a quick update on things. If they are still trading and what are the markets looking like at the mo. Are the favouring bull or bear flags? Or are they staying out all together?

Cheers

Craig
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Old Feb 27, 2009, 1:42am   #71
Joined Nov 2006
Hi All, Has anyone spot and suspect that "pjchalmers" could be Guy himself or his representative OR Am I just paranoid? Plz dont asnwer this one "pjchalmers". Thanks and a bit of lol too.
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Old Feb 27, 2009, 3:42am   #72
Joined Jan 2007
Quote:
Originally Posted by andys280176 View Post
What I can't get is that Cohen says trading volatile markets is what this system does best at but his blogs stated (around about sep-oct 08) stated that the market was in a bad way and people would need to sit tight. Is this not exactly the ideal opportunities to use this or is it that he mean't 'bad way' as in they had just bottomed out?

He didn't say bad way specifically but it was words to that effect.

I also think you need to trade a bit more than he says (20 mins a day). Maybe you can once you have really mastered it but how do you recognise opportunities throughout the day - as we all know the market continually changes - and do all this in 20 mins.

Mind you he did state that sometimes you only have 3 or 4 top notch earning opportunities per week so maybe that is what he means. The crux of the system seemed to be that the system selects only the best of the best looking trades so you might only have a few per week or none at all.

Andrew
Hi Andrew,
Illuminati Trader System
Please note I am not an options trader in anyway. I also currently have none of Guy’s Trading system (I’ve just read a number of books on the subject). My understanding from Guy is that now is not a good time for Illuminati Traders – as the market is very high volatile. Illuminati traders, trade options in the main and option prices are directly related to volatility. So I would say, because of market volatility options are currently over priced. So, it would be difficult to find a set up where a low risk profit can be made from them.

For instance, a key option strategy for any Illuminati Trader is to buy a non-volatile stock option (low priced) before a news event hits. Once the news hits, sell the now volatile option (high price) for a profit. Basically the aim is sell volatility to the market. This is impossible to do when the whole market is as volatile as a hive of drop kicked bees. So, I would assume that options are just over priced for, a low risk, Illuminati Trader strategies at the moment. This will eventually change when market back down.

Flag Trader System
There is a Flag Trading section in Guy’s original Illuminati Trader system(s). Which is where the standalone FT system evolved from. In Guy’s FT system spread betting is used instead of options. Market volatile appears to have a much lower impact on the cost of placing a spread bet. So FT is very much in play at the moment.
That’s my understanding fwiw.


FT's 20min a Day Claim
Guy’s FT system uses EOD data to generate a list of possible trades (bets). Lets say, in the evening you manually filter and evaluate the list (according to Guy in around 20mins - once you know what you’re doing). You then place your chosen bet(s) then sit back till next evening (alternatively if you wish you can or watch/interfere during the trading day – its up to you).

Your bet is either:
1, Not triggered. You loose no money – either close or roll over the bet.
2, Triggered then reverses and hits your stop. You loose your stop loss and any slippage.
3, Triggered then reverses and closes at or below breakeven but above your stop. You have a decision to make – either close for a small loss or rollover the bet.
4, The bet is triggered and closes positive for you. Your trade is winning and you have a decision to make – either close for a profit or rollover the bet.

So, very easy for a simple, single bet per-stock approach.

However, just placing bets in the Evening while perfectly possible would mean probably missing out on a number of trading opportunities:

Stock regularly gap up and down at the open. If this were to happen to one of your bets and it gapped beyond your trigger point it simply wouldn’t be triggered. Your bet wouldn’t be placed – no loss but no opportunity to make money either. To avoid this you may well want to watch the open to place such “Gapped” bets manually. I think this situation is explained in much better detail in one of Guy’s free videos on his web site.

Also manually adjusting trailing stops and early closing of more complicated multi-bet strategies would also probably require some level manual intervention during day. Again I think this is shown in one of Guy’s free vids.

I would say the bottom line is that the system can quite conceivable be managed just as Guy indicates. However, if it were my money on the line I think I would be spending rather more time watching. It is quite possible though that that time would be very unproductive and possibly even counter productive.

I hope the above helps

Please note none of the above is intended as a recommendation or approval for any of Guy’s (or anyone else’s) trading systems or other products.

Rich – I wish
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Old Mar 1, 2009, 3:51am   #73
 
8 Posts
Joined Dec 2007
Guy Support

Quote:
Originally Posted by UK-JAC View Post
Hi i was googling to find out a blog to explore more about this product. I bought this one, currenty doing the course, however could you please tell me, which chart you use to make consolidation, i am using IG index, can i use their chart, if so how do you set up this.

To me its looks like a nightmare, buying additional chart software etcc.. also i sent many mails to guy support@flag-tradre.com, no reply at all. very poor support.

I still have 30 days trial period, i am really thinking of any use of this product.
I would appreciate if you could explain little more since you have already bought and experianced.
Many Thanks
Nordi
Hello everybody, i have been researching Guy
and as others seem to be saying, he seems
to be very genuine.

Nordi, just a thought...if you spelt the Flag
Trader address on the email as you have
here, it will be the reason you got no
answer. Check it out mate and let us know
as this is a very important point.

Thanks to all for your comments they are
very helpful to me and others.

Paul.
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Old Mar 1, 2009, 4:08am   #74
 
8 Posts
Joined Dec 2007
Quote:
Originally Posted by realpawl View Post
Hello everybody, i have been researching Guy
and as others seem to be saying, he seems
to be very genuine.

Nordi, just a thought...if you spelt the Flag
Trader address on the email as you have
here, it will be the reason you got no
answer. Check it out mate and let us know
as this is a very important point.

Thanks to all for your comments they are
very helpful to me and others.

Paul.
Me again,

Regarding Nordi's post, sorry, i am not
experienced and i stupidly saw the mistake and
wrote too quickly. I started at the begining of
this, and commented on an old post when i got
to it, without thinking what might be mentioned
further along. Obviously i have now gone back
and continued reading, and immediately i can
see its already been mentioned.

Paul.
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Old Mar 3, 2009, 5:31am   #75
 
1 Posts
Joined Mar 2009
mmm.........
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