FX500club subscription transfer

hi,

Havent been here for almost a week.

I have tried out the FX500club, which is danarms group of traders.
(danarms thread "Its All About the Pips".)

I dont want to continue with my monthly subscription, and would like to transfer my remaining subscription to a genuine newbie who has an understanding of danarms methods, but needs support taking trades.

This transfer has been agreed with "james" from the FX500club.

The club: a £47 set-up fee, followed by a monthly £97 subscription. I have used up 1 week, so 3 weeks left, for a newbie.
Its a very useful group, all analysing as one using the CCI set-ups as described in danarms thread.
The FX500club team, which comprises a number of people, (who actully revealed their visages today via webcam), seem a clued up bunch.

Room is using omnivia, so the team members can show you their charts real-time. Voiced commentary. usually about 50-60 members.

Notes:
# The subscription is by manually paying again via paypal, so no automatic payments taken.
# If you dont like the room, please give james at least a weeks notice in advance of renewal as a courtesy.
# The room runs from about 7AM to about 10AM. There is a secondary "monkeychat" in the afternoon, which is free.

trying to anticipate all possible questions....

Why am I leaving? Cos it doesnt suit me! I have developed my own rules, and am happy with them. I also trade pullbacks, so its just a variation of a method I am comfortable with anyway.
Another thing is, I have spent quite a while developing alerts to stop me being in front of the screen all day. However, the room has a lot of commentary, which really requires you to be there all the time. Not what I want. However, having said that, a newbie would benefit from all the nuances and experience these guys can give.

I dont want the subscription to go to waste, so am offering the remainder to anyone on T2W.

Please ensure:
1: You are happy with danarms methods (although the website has good videos on each of the various trading set-ups and techniques)

2: You are genuine newbie with relatively little trading experience. (experienced traders need not apply)

3: Post in this thread your interest; not by PM.

4: You will need an email address, as its one of login-components.

I will pick a member soonest (later today or by Friday noon), so they can utilise the FX500club facility by Monday.

thanks

EDIT: They trade the major USD and JPY cross currencies, indices, oil and gold.

oh its turned into a subscription chat room has it......

JTrader said:

oh its turned into a subscription chat room has it......

Click to expand...

Dont know if it was always meant to be a subscription room.
There seems to be a more involved following over on, I think, forex-tsd.
havent checked but they may have started there first, as there are many more posts and charts than over here at T2W.

Seemed like a good punt, and being a good trader, know when to take my hit and move on.

Anyway, JT, arent you supposed to be in self-imposed exile? :cheesy:
(it really is difficlut to stay away, but I actually didnt log back on until this afternoon, since something like Sunday. Absolutely agree with your sentiments expressed elsewhere, my trading has settled down for the better. Hope you are well.)

overall, they use a long CCI as trend, as shorter CCI as pullback entries to the major direction. Basically, what I do, but with Stochs. But they have other nuances.
reminds me of Dr Bobs CCI, as well as Noconas NERS.
(nothing new under the sun, but an interesting variation)

Trendie,
I am considering joining the fx500club. I had a trial day on Wednesday. The time frame suits me as I still have a day job, and being in Australia I finish my job just before their session starts.
I would be pleased to take over your sub from Monday pro-rata if you are happy to wear the set-up fee.
I have done quite a lot of trading up to two years ago, when I fell off the bike and had to get a 'real' job. I'm over it now and need some guidance to get started again. The ongoing commentary is just what I need at this stage to confirm my own (less than confident) thoughts.
My only reservation is that I have already discussed with Hemal at fx500club about joining and I don't want to put his nose out of joint by buying this from you. I will email him now and keep an eye on this forum for your response.

scasli said:

Trendie,
I am considering joining the fx500club. I had a trial day on Wednesday. The time frame suits me as I still have a day job, and being in Australia I finish my job just before their session starts.
I would be pleased to take over your sub from Monday pro-rata if you are happy to wear the set-up fee.
I have done quite a lot of trading up to two years ago, when I fell off the bike and had to get a 'real' job. I'm over it now and need some guidance to get started again. The ongoing commentary is just what I need at this stage to confirm my own (less than confident) thoughts.
My only reservation is that I have already discussed with Hemal at fx500club about joining and I don't want to put his nose out of joint by buying this from you. I will email him now and keep an eye on this forum for your response.

Click to expand...

your response indicates I may have inferred I am selling the sub.

I have already paid the set-up fee, and for the first month.

What I am offering is to give the remaining 3 weeks for "free", to a serious newbie trader.
If the member then decides to continue with the club, then the £97 is to be paid to FX500club for the next month.

No messy pro-rata-ing. Effectively, a 3-week free membership, paid for by me!

Get in touch with Hemal, and/or james. If they are amenable, lets do it.
good luck.

Thank you, that's extremely generous. I have emailed Hemal but have not heard back - I'll call him later when their session is over. Thanks again. Stay tuned.

I was under the impression that danarm was just an ordinary t2w member looking to freely share (give & receive) market knowledge & wisdom. I did find it slightly "interesting" that his alter ego "dan007" was a vendor though..........
Then he was going to setup a chat room, someone suggested google chat & skype....I can now see these wouldnt have sufficed if a subscription service wass always in the pipeline..............

nothing wrong with any of that you might say, if "monkey chat" is useful. I just like to be aware of the true intent of things from the start. Maybe i'm, just old fashioned....but it avoids the resulting sense of being sucked in - hook line & sinker!

JTrader said:

I was under the impression that danarm was just an ordinary t2w member looking to freely share (give & receive) market knowledge & wisdom. I did find it slightly "interesting" that his alter ego "dan007" was a vendor though..........
Then he was going to setup a chat room, someone suggested google chat & skype....I can now see these wouldnt have sufficed if a subscription service wass always in the pipeline..............

nothing wrong with any of that you might say, if "monkey chat" is useful. I just like to be aware of the true intent of things from the start. Maybe i'm, just old fashioned....but it avoids the resulting sense of being sucked in - hook line & sinker!

Click to expand...

I can see your perspective. maybe I was curious as it was a method that I am comfortable with, and felt I could evaluate it meaningfully.

the problem with monkeychat, and actually for me, the FX500club, is the need to be in front of screen to monitor events and analysis. I have already got alerts, so dont need the monkeychat. also, theres too much "noise" with people chatting, and you have to trawl through the chat for real info of trades.

a newbie might find it more useful than I have, or indeed, more experienced members, hence my willingness to pass it on to a genuine newbie.

3 weeks for nothing aint bad.

If i was paying for a "chat" room subscription, THE LEAST i wuld want is to be able to "chat" with a microphone - 2 way. At the moment i believe fx500club is just a listen to them & type if you want to ask questions service???
Not very "interactive" that is it.....

JTrader said:

If i was paying for a "chat" room subscription, THE LEAST i wuld want is to be able to "chat" with a microphone - 2 way. At the moment i believe fx500club is just a listen to them & type if you want to ask questions service???
Not very "interactive" that is it.....

Click to expand...

correct, thats what it is.
but with microphones for all, and with 50-60 members, you would get even more of the "noise".
combined with different national accents, etc, there will be lots of requests to repeat or clarify.
also, typing leaves a time-stamped audit trail, spoken words can be misremembered.
this would make the idea of staying close to a screen even worse.

thats what I want to get away from; say I, typing this!

yes but reading lots of text & typing is very hard work and it soon all becomes a blur, and this is while you are having to concentrate on charts. At least if all people can talk & not just the vendors -
1) it requires minimal effort to speak/listen
2) it makes it a more interactive/interesing & social/human experience, so you feel involved

As it is, it sounds like pure simple Monkey chat to me...

I think that's a very generous offer, trendie - whether the board is "monkey chat" or not - and whether any newbie actually trades it will give them an insight into the minds of others and introduce them to other traders.

Yeah that trendie must be rich man! if he can afford to kiss £75 away!

Yes it is a generous offer Hoggums (great name) and I am very grateful to be able to take it up (still waiting for call back, trendie, tried again a few minutes ago and got voicemail).
I will treat the opportunity with an open mind and look at it on its merits and its suitability to me as a hopefully recovering trader.

Presumably a potential 500 times £97 a month + a £47 registration fee is not a bad little earner......

So is anyone here copying their trades in real time and if so how well is it going ?

The point about chat rooms is, they tend to attract traders who like the herd instinct. Gives them a sense of comfort, that others are in the same boat as themselves.
But valid comments have been made about learning from others in a real life situation.
A newbie with average intelligence, will pay up watch and learn for a month or so, then go off and do his/her own thing.The perputual losers will always be members taking comfort from the fact that they are not the only ones losing.

gc1, they are careful not to specify exact entries and exits, so it's difficult to document. The calls are more like "If we get a break here I wouldn't mind getting long". But I will be pleased to give an unbiased report on my experiences next week. If I can make it a success, I believe most people could have a similar experience. Some understanding of the process is required, it is not for absolute neophytes.

In my day there as a guest last week I took 20 pips on a suggested trade in which I could have taken another 50 in the next 15 minutes; but it WAS my first experience there.

To be fare to them they did say it was their first day trialling the new software (?), though it seemed they already had a list of established "customers" probably from their forex-tsd stuff im guessing. ....
....i spent the afternoon there 2 NFP fridays back. At the end they said something like - well we made 70 pips on oil.............i dont recall them having stated the exact entry moment, or that they'd EVEN entered a trade at all. This obviously would be of all round help with any signal service....and if its not a signal service, then what is it? what is the point? if no super trader is saying eg. "Short oil NOW!

JTrader, My experience was similar, although Dan did bare his **** on a gold trade, called it very clearly ("I'm having a go at this") and even when it went against him for maybe 20 mins he stuck to his guns. The trade moved in his favour and made good profit. He had something like 50 pips S/L but expressed confidence and provided reasons why. I found it an educational experience, but the exposure kept me out of it, even as a demo trader.

What I did find distracting was other room members typing things like "Just got out at 38 for 50 on E/U" - which may or may not have been part of the method they use in the room, I'm not educated enough to know at this stage. Perhaps I'll be doing that shortly too... lol.