Goldline

Stevano

Well done for taking the initiative to go see them.

A few months back they had past results on their website which stopped about 6 weeks before that date.

They told me (in fairness) that they had had mixed results lately but were confident the system was good. It had, though, only been completed shortly before, and they only had a few weeks of real results at that time.

Did you ask for their actual detailed track record for the last few months, which would be the true test of the system.

Actually, the real true test will be the results you get from the actual trades you take from their calls each day - I trust you are going to ring them each day to test the system?

If the system works well I'm sure it will sell well - but the lack of a track record on their site surprises me - If it is good enough to clearly demonstrate it's money making capability then that track record would be the very thing you would not leave out!

Hope you keep us updated on your findings.
 
Stevano,

Be careful with a mechanical system- it is very easy to get carried away with the past results which maybe ligitimate- BUT :

The system tests will rely on ALL trades being taken- granted this one seems to be a swing/ positional type so probably quite easy to take all and not miss them- BUT as options says, usually they can require some very big stops in place and u MUST be very strong psychologically to take those trades

I have tried a couple of day trading systems - and i either could not cope with the necessary risk or kept missing the winning trades !! ( i had to be in front of the monitor !!) so basically i gave up....................anyway, good luck
 
Have you ever looked at trading highs and lows of daily bars? It would have made you around 1,000 points in September on the Dow.

That'll be £5k please ...
 
Put your tin hats on folks _ it's raining "holy grails" of trading around here.

:)
 
Skim

Could you be more specific please ?

" Have you ever looked at trading highs and lows of daily bars? It would have made you around 1,000 points in September on the Dow. "

Thanks

Alanb
 
Alan - something along the lines of buying a higher high, and shorting a lower low.

The following annotated daily chart of the Dow gives a general idea of what I mean. Works well on months like September.
 

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Skim

Could you give more detail on why you entered and exited on the particular bars you show on the Dow chart.

Now the chart is complete the trades are clear, but not at the time of each entry.

Thanks
 
darren - I've not said that I entered and exited on those bars; I was just illustrating how it is possible to swing trade the DOW end-of-day using breaks of daily bars.

So, for example, the low of yesterday's daily bar on the Dow was 9630. Therefore, you would be looking to short if it breaks below that point (allowing a little for gunning of stops). However, this would not be good risk-wise, because your stop would need to be at the high of the bar, ie 9770. In fact, it would be a stupid trade just based on that risk. So, IMO if you were not in a trade, it would be best to stand aside (which, in fact, is a position actually) and wait for the risk/reward to be more favourable.
 
Skim

Sorry, I didn't mean you had actually entered those trades.

So, WOULD you at the time, have entered those trades with the bar information available at that time, and if yes, could you explain using those entry/exit points to illustrate the reasons.

Darren
 
Hi everyone, I'm new to this site and would like to put my head above the parapet by confessing to having purchased the Goldline system.
I've had it a couple of months now but most of that time was spent learning the principles based on the manual supplied with the software.
My first two 'attempts' were losses totalling approx £400 but I have to say I broke a golden rule by trying to 'force' trades.
I am now up 166 points since 8th October and should have been up a lot more except that I again broke the rules and 'interfered' with the system by closing a trade when I should have let it run.
The jury is still out as to whether or not Goldline will turn out to be value for money but I am happy to keep you informed of my progress, warts and all, if anyone is interested.
I took a calculated gamble when I bought the system. Some may think I'm crazy but then don't we all make calculated gambles every day in this game?
The only thing is, the system is very passive on the users part and it has whetted my appetite to become more 'hands on' like you guys. You though, may find it a little too tepid.
Anyway, if anyone would like more info then feel free to email me or post here and I will keep you informed.
John
 
Hi John.
Thanks for being brave enough to hold your hands up on this one.
Yes, please do keep us informed as to your progress and how you think it is performing. It is important to get a balanced un biased view, and who better than the people that are trying out the system; Which is aimed at the newcomer in the main.
The problem with these systems as I see it is they will tell you when to enter a trade, but the market is not always listening to the program, and the program does not factor in the human emotion. When you are £600 the wrong way; waiting for the program to come good you will know what I mean.
You have already said that you have 'broke the rules on occasion' The makers will say that you have not followed the instructions. Keep a record of the trades you would/have taken and let us know how it is going.
 
Hi Harlosh, and welcome to T2W. :D

I too agree with Options - it's nice to have a view from the sharp end, so to speak. We can all pontificate (and I can more than most :D) but a real live user is of benefit to us all.
 
Harlosh

Thanks for being the first to admit purchase, I'm borderline - I admit it does sound too good to be true. Still at least I now know that the thing turns up in the post and does sort of work after you have paid your cash. I'm interested in knowing more and would appreciate an email [email protected].

Did you pay 5K for the sortware and what do the Finspreads guys say about it ? Thanks Twig
 
I suppose there is no point trying to persuade people not to part with their money but if you do a lot of research in to this company, there is a lot of bad stories about them. I have wasted too much time putting people off doing this sort of thing so DYOR.
 
Like I said. I am not spending any more time looking at this but if you search for all the other systems this company has produced, you will find that a lot of people have paid lots of money for average to poor results. The horse racing one was selecta7 and I found lots of info that didn't seem to warrant parting with large sums of cash. There have been several other systems in the past and there is now a golf system. Do a bit of research and you will find out. There is information here on previous threads if you look for it. Try looking for selecta7.
 
Hi BB
Thought you might like to know that Selecta7 does work and has certainly made me money. It is a statistical based system and I suspect that goldline is the same. Little or no TA involved.
 
From what I read it seemed to depend on when you started using it. Some people make money but some spend a year doing every bet and don't make anything. If you go on holiday and miss a few of the long odds winners, it doesn't look so good. How long does it take to pay off the initial outlay?

As with all these systems, if they were that good we would probably never of heard of them and the bookies and spread bet companies would be going bust. That doesn't seem to be happening.
 
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