chris kobewka, 60minute trader etc.

[oriana]

I was reading in the thread 'a winner priced out of the market' about how Chris Kobewka had effectively been prevented from trading with one spreadbetting company. I looked for information about him on the web, and found his 60 minute trader course which sells at $97. Does anyone know if this is the same as the winspread.com course? I remember reading threads on trade2win.com about winspread.com about a year ago, and following their trades for a while, but stopped after they had several bad losses in a row. Now however after reading about Mr Kobewka's apparent success, I was wondering if buying the 60 minute trader would be worthwhile. Has anyone here bought it, and if so what did you think of it?

I notice that the 60 minute trader involves trading during the first hour of the dow being open, whereas if my memory is correct, winspread involved placing and closing trades when the market closed or was about to close, so are these 2 different systems?

Any information would be appreciated.

I.M.

 

[oriana]

Just after writing this I emailed support at 60 minute trader, and my email was immediately returned by my internet provider saying that the address I had sent it to failed. Has anyone got an email address for them or know if they still exist?

 

[Bigbusiness]

There was a thread about this recently:-

http://www.trade2win.com/boards/showthread.php?t=13099

http://www.trade2win.com/boards/showthread.php?t=13182&highlight=Chris+Kobewka

I thought winspread was about fading the opening move, so you might have got it confused with something else.

 

[pb]

Oriana I am sending you a PM.

 

[gjacques1]

I was reading in the thread 'a winner priced out of the market' about how Chris Kobewka had effectively been prevented from trading with one spreadbetting company. I looked for information about him on the web, and found his 60 minute trader course which sells at $97. Does anyone know if this is the same as the winspread.com course? I remember reading threads on trade2win.com about winspread.com about a year ago, and following their trades for a while, but stopped after they had several bad losses in a row. Now however after reading about Mr Kobewka's apparent success, I was wondering if buying the 60 minute trader would be worthwhile. Has anyone here bought it, and if so what did you think of it?

I notice that the 60 minute trader involves trading during the first hour of the dow being open, whereas if my memory is correct, winspread involved placing and closing trades when the market closed or was about to close, so are these 2 different systems?

Any information would be appreciated.

I.M.

Hi there,

I was wondering if this 60 minute trader was any good, i have seen many good reports about it. Have you had any luck finding out any more details about it. Let me know!! Ebay has the 60 minute trader for sale they are going for about £25-30 each.

Cheers

 

[Bigbusiness]

gjacques1,

I can't find anything like it on ebay. When the price reaches 50p let me know. I might be interested then.

 

[Roberto]

I was reading in the thread 'a winner priced out of the market' about how Chris Kobewka had effectively been prevented from trading with one spreadbetting company. I looked for information about him on the web, and found his 60 minute trader course which sells at $97. Does anyone know if this is the same as the winspread.com course?

Similar, but IMHO clearly better. It gives more detail, there's more about the indicators, and more detailed advice about entries and exits.

IMHO as the owner of both these books, I'd have to say that the 60-minute trader is better value than the original Winspread one.

Must admit that I don't always trade it, but I nearly always look at it, even if not necessarily at exactly the right time of day. Friday (11th February) was a bit "iffy", it was possible to make a small profit, but you would have had to time it well. But with his characteristic honesty, the author actually took the strict view and counted that day as a _loss_ in his daily email reckoning.

Before that, the last losing day was actually 19th November last year, which speaks pretty highly for the thing, I think anyone would agree!

It's true the profits are often not overwhelmingly high, but losing days are really few and far between. I think that's a pretty good recommendation, actually.

I remember reading threads on trade2win.com about winspread.com about a year ago, and following their trades for a while, but stopped after they had several bad losses in a row.

Really? I've never really seen "bad losses" with it, I must say ... even in the earlier Winspread book he tells you to get out as quickly as possibly if it all happens to go wrong, I think?

Now however after reading about Mr Kobewka's apparent success, I was wondering if buying the 60 minute trader would be worthwhile. Has anyone here bought it, and if so what did you think of it?

Yes, and I recommend it, myself. Nobody can say it isn't exactly what it claims - a profitable and reliable system.

I think Chris still peruses this forum himself from time to time, so if you're lucky and patient he might answer you himself as well. He is clearly one of the "good guys" in an industry in which unfortunately there aren't so many of them.

 

[pb]

It's my opinion that you cannot lose by buying a sub-100 quid course. Unless you are really unlucky and pick the dog of the dogs, you will learn something from the inexpensive courses. Much better than buying a triple digit jazzy course and then deciding you didn't get value for money and the system doesn't suit your personality anyway.

There are some good sub-£150 courses out there. You can also buy a number of expensive courses very cheaply on eBay.

Cheap doesn't mean bad, expensive doesn't mean good.

As always, DYOR.

 

[oriana]

Roberto,
You say that often the profits using the 60 minute trader are not overwhelmingly high. How many points a day on the Dow would be the average profit? And for that matter, what would be the average points lost on a losing day? On their website they say that its possible to make 1000% per annum. I'm highly sceptical about that. Has anyone found it achievable?

Chris did email me and included 4 months results, but my computer does not have the software to look at them. I am currently trying to download software which will let me see them.

I.M.

 

[Roberto]

How many points a day on the Dow would be the average profit? And for that matter, what would be the average points lost on a losing day?

Sorry, but I'm honestly not the right person to answer this. I have not myself traded it regularly and reliably enough to offer meaningful figures.

What I can tell you from my own personal experience (a lot of it with hindsight rather than live trading, I admit) is that the losing days are VERY few and VERY far-between; certainly no more than 2 per month over the last 6 months or so.

And for a system that costs about £50 to buy, I think that's pretty remarkable; don't you?

On their website they say that its possible to make 1000% per annum. I'm highly sceptical about that. Has anyone found it achievable?

To be honest, I never really understand how these things are worked out. If you start off with something small and escalate it, I suppose it might be possible to multiply your money tenfold. Not sure that that necessarily makes it a sensible way to trade, mind you, but that's another matter!

Chris did email me and included 4 months results

Yes; he's pretty good at that sort of thing. You probably have more reliable information than I do, then.

I'm inclined to agree with Pratik's point above as well, you know.

This 60-minute system actually compares very favourably with many things that cost many, many times as much, after all. (And so does its author, I can tell you.) Above all else, it's a viable, working, profitable little system. And that's actually quite a rarity!

 

[juanbyte]

Oriana

I have been in contact with the support and they did have a problem with sending out emails but receiving was OK. It is now working fine.

I say they because although I wrote the book, all sales and marketing are handled by InternetUnlimited which leaves me free to tade. My role is purely techinical and I answer questions that they cannot.

On their website they say that its possible to make 1000% per annum

The 1000% is compounded, if you trade level stakes/lots it will be 300%.

How many points a day on the Dow would be the average profit?

If you follow the money management and trading plan you need to average less than 6 points per day net to achieve the target.
Nobody will get the exact top and bottom of every move, a realistic amount is 50% of the move on average. At 50% the net points won is just over 6 points after any losers.

 

[oriana]

Juanbyte

How many points would I lose on a losing day? I haven't been able to see the spreadsheets yet, as I'm having trouble finding suitable software to download.

 

[oriana]

Is anyone else actually trading the 60 minute trader with success?

 

[ivorm]

Must admit that I don't always trade it, but I nearly always look at it, even if not necessarily at exactly the right time of day. Friday (11th February) was a bit "iffy", it was possible to make a small profit, but you would have had to time it well. But with his characteristic honesty, the author actually took the strict view and counted that day as a _loss_ in his daily email reckoning.

Roberto : What do you mean by "his daily email reckoning" ?

Regards,

 

[pb]

I bought the 60 minute trader course. I am pretty impressed with the system and it looks good by eyeballing old charts. Unfortunately for me, I am in fulltime employment and cannot be at home watching the US market open. But that's my problem, not Chris'. Neverthless, it's a system I certainly plan to use when I eventually go pro.

I also believe Chris is a genuine and very helpful guy.

I am currently trying to tweak the system to use it on EOD data. As I said, you can usually learn something from even the cheapest course.

 

[Roberto]

Roberto : What do you mean by "his daily email reckoning"?

If you ask him nicely, he'll send you a nice little email chart and comment each day showing that day's trade. I think this is probably quite a recent thing for purchasers of the second book - but I'm sure he'll clarify the "terms" if you ask him!

 

[Roberto]

I bought the 60 minute trader course.

Good for you; and good luck with it.

I am pretty impressed with the system and it looks good by eyeballing old charts. Unfortunately for me, I am in fulltime employment and cannot be at home watching the US market open.

I know the feeling! It's actually very often not the right time of day for me, for various other reasons, which is why I've traded it a lot less often than I'd have liked.

Neverthless, it's a system I certainly plan to use when I eventually go pro. I also believe Chris is a genuine and very helpful guy.

I think I know what you mean: the "industry" (perhaps understandably) has such a dreadful image that it's a relief to find someone who is, and worthy of comment.

 

[JonnyT]

Why don't you automate it?

Its fairly straight forward.

JonnyT

 

[ianp]

Why don't you automate it?

Its fairly straight forward.

JonnyT

Hi JT,

I take it if it is easy to automate it should be easy to backtest ?

Have you had a go yet ?

Ian

 

[JonnyT]

Hi Ian,

The average trade visually is small.

As yet I haven't run it through my backtest engine to test out various parameters.

Even if I did I wouldn't publish the results without Chris's say so as I know what its like to be ripped off!!!

JonnyT