martin coles PAT software

Ozzie,

It's a shame you didnt find these boards before parting with your money. You will find that there is a general view that trading other people's systems is not thought of too highly particularly when a small fortune is charged to learn how to do so. The argument is generally one of "If the system is that successful then why is there a need to sell it to others"

This is not the same as getting coaching in how to trade and T2W has a number of highly recommended individuals.

I hope things get better for you and I agree with Skim, 15 pages is ridiculous, there are many traders on here who use some very simple rules and it is managing the money whilst in the trade that is the key (in my view)


Cheers


Paul

Thanks Shimbleshanks & Paul

Yes - I agree with you both - the simpler the better. I have been working on some simpler home grown systems, which seem to give better returns and have less issues of interpretation.

I took Martin Cole's trial - so haven't parted with the £500 per month (there was a discount to try the system out). My attitude is that as it hasn't paid for itself there is no valid reason to keep it on.

I think that he possibly has some good ideas, but over optimization of the system means that it will be a constantly moving target and therefore impossible to trade. I think that there are cheaper ways of getting ideas - such as through these boards. Also books like Kaufman (Trading Systems and methods), Van Tharp (Trade your way to financial freedom) and Stridsman (Trading systems that work).

I have worked with Martin for some time now & studied his methods.

The software works, there is no doubt there, but the simple fact is, different systems work for different people.

PAT Maps the market in a completely new way so to enable the user to interpret a lot of info in a simple manner. this in itself is a Giant leap forward and the strategy is designed to pass on what Martin cole understands & uses himself to trade the Market, to other people , to then replicate this.

This strategy will sit comfortably with some people & not others, as we r all different, I guess that is why it has a trial period. u r also only forced to use this strategy to enable the Guarantee!

If u want to trade for a living then the first thing u should ask any person offering to teach or sell software is whether they use the methods themselves & does it give a sustainable net point profit !

once u have this answer, then all u can do is investigate & try it for yourself, only then will u know whether the 'system ' will work for u.

the software probably appears expensive , but then this is all relative, if your goal is to be a successful trader & make 30-50-100K p/year & it enables u to do this then it is not.

Guess what I am trying to say is, if it enables some people to make 100 points a month, comfortably, with a guarantee & have a great lifestyle then it can only be a good thing, but this doesn't mean to say the strategy will be for everyone.

it beats me why anyone wants to buy/rent any system, learn from a good coach and trade for yourself, better, cheaper, more satisfying, take control for yourself don't put yourself in other's hands, isn't that what its all about??? don't change from a wage slave to a system slave, be free and in control
m

Anyone who is interested in viewing his system manual it is on his website and publically available. http://www.professionalactivitytracker.com/support.html and follow link to "Pat Trading manual"

JayGE,

Some of what you are saying seems to come directly from Martin Cole's website. Have you tried trading the PAT system? If so I would be interested to know what results you were able to achieve.

I agree that the software appears to work, from the results shown on his website, but the question then remains as to whether it is really tradeable. Systems often work with the benefit of hindsight.

I have other concerns about his system:

1. that it is "black box" and generates signals based on some criteria coded into the program, which he does not divulge. I am not sure that people learn to trade from that approach. Markets also have a habit of stopping systems from working after a period of time, especially if you have 100 people trading the same signals.

2. There is no summary of results and what can be expected in terms of the maximum number of sequential losing trades and the maximum draw down that could occur. Both are useful indicators as to whether the system would suit an individual's trading style.

3. I do wonder how long the system has been tested for. The main trend indicators stopped working at the end of May/start of June and have generated few signals since. (It was after this that he seems to have introduced a new method - refer to the graphs area of his website).

Hi Ozzie

I probably have said some things that appear on Martin's website, but I am not just repeating things he has said, I just agree with some of the things he is trying to achieve. also the comments were becoming a bit 'one sided' & felt some people were missing the point a little.

yes I took the software with the intent of evaluating it but I had so many technical difficulties at the time I only managed to run it for 2-3 days out of the 2 months with about the same number of trades. I am keeping a close eye on the site now & maybe will retry it eventually.

I Do agree with some of the comments u have made & your comments r valid as u have trialed the software, the strategy has become a little complex & is still open to some interpretation. I believe PATs strength is in the software itself & how it presents information, for example, the strategy I use for entry & exit on trades is presented very clearly with PAT & it has the ability to track trading ranges automatically ( something I could have done with this morning as I forgot to put it in :-((.

trading is difficult, & I guess coming up with the 'perfect strategy ' to suit everyone is just as difficult. yes I guess there r still flaws to be ironed out......& it would never suit everybody anyway.

I just believe it to be a step forward in many respects & deserves some support.

& people will only continue with it if it works for them, & if it does then it has served them well

from John B
spreadsbetting.co.uk
I don't know if I've put this up before!