thinkb4youspeak
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Heres some interesting FACTS I found out:
Lifestyle Trader has planned not gone into liquidation - rather are paying out their creditors.
Investment Capital Systems are a completely separate company and the director was a client who paid just like you.
If you are entitled to a refund contact Lifestyle Trader compliance and lodge for one. If your not happy with the response use your consumer rights and complain to the ombudsman or ASIC.:smart:
The Chartist
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I saw this guy speak at a "Think and Grow Rich" event in Melbourne and thought, " who would buy a trading program from this guy?"
There he was dressed like Crocodile Dundee and calling himself "Aussie Rob." He was telling these really corny jokes too and he had Missus Aussie Rob up there holding his hand as they traded together.
Yet they all rushed to buy his program at $15,000 a pop after he finished spruiking.
I had to laugh as people with their maxed out credit cards from buying every other spruikers' package ran to try and get their money back on the other stuff they bought in order to buy his program instead.
Anyway let's see how this exercise works.
If you go long the trade when the green line crosses above the red line, as per the trading rules and constantly lose money. And if you go short when the green line crosses down through the red line, once again- as per the trading rules and constantly lose money, then reverse the signals.
If you still lose money trading then the problem is you and not the system.
By the way, can anyone tell me what the diffrence is between Nik Halek's Share Lord and Aussie Rob's covered call scanner ?
They both look exactly the same to me except Share Lord was more expensive.
There he was dressed like Crocodile Dundee and calling himself "Aussie Rob." He was telling these really corny jokes too and he had Missus Aussie Rob up there holding his hand as they traded together.
Yet they all rushed to buy his program at $15,000 a pop after he finished spruiking.
I had to laugh as people with their maxed out credit cards from buying every other spruikers' package ran to try and get their money back on the other stuff they bought in order to buy his program instead.
Anyway let's see how this exercise works.
If you go long the trade when the green line crosses above the red line, as per the trading rules and constantly lose money. And if you go short when the green line crosses down through the red line, once again- as per the trading rules and constantly lose money, then reverse the signals.
If you still lose money trading then the problem is you and not the system.
By the way, can anyone tell me what the diffrence is between Nik Halek's Share Lord and Aussie Rob's covered call scanner ?
They both look exactly the same to me except Share Lord was more expensive.
UizBSme Nahmorz
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Well this has got to be the joke of the day! How can anyone believe a word that comes from Lifestyle Trader? Wasn't it just a couple of months ago the CEO Murray Priestley said the company was doing great! And now, it has been driven to financial ruin! Sacked huge numbers of staff and what, not even paid their super or entitlements I now read!!!! Low Life Style I say!
Now I have found another message on a different forum from Greg of Melbourne and he says :arrowd:
>>>>>"2010-03-03
Review: Once a scammer, always a scammer. He was a hunted man back in 2000 as he conned thousands under a offshore company creation and banking service. Global Equities Group which then became Global Bank (all rubbish). It was an MLM company which promised to set you up with offshore structures to save tax. In reality, all it did was make this conman rich.
8 years later he reinvents himself and floats AUSSIE ROB....
DON"T YOU GUYS GET IT?
AUSSIE ROB = ROB AUSSIES">>>>>
So what is this Global Equities Group Scam that Aussie Rob Wilson was part of in 2000? Then he joins forces with Jamie McIntyre - go to ASIC site and search his name - ASIC had restrictions on him at his wealth creation seminars way back in 2004/5, now Lifestyle Trader goes down - and gets replaced by this new scam Alpha Capital Management (that Murray Priestley lists on LinkedIn that he now manages) and Investment Capital Systems........... that Rob Wilson has his hands in the till with............ This is unreal......... do some google searches and warn anyone that is looking at one of their new scammy schemes! :!:
lloydbee
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The enticement of getting hold of easy money ripping people off is probably just too easy to walk away from and is obviously more lucrative for them all than being a normal sales person.
(heads off to scour the GC Bulletin website for the article)
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Barramundi
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I've got no specific knowledge of this system, but I suspect it would be a break even methodology whichever direction you went, and a losing system once costs eg. commissions/brokerage/spread/time decay etc were taken into account.
The Chartist
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From what I saw and have read on this forum, this was a blackbox system that used a 3 and a 5 day moving average crossover. I know that he said it was a "Supply and Demand" indicator at the event that I went to, but when I quizzed him privately after he came off stage he told me that it was a proprietory algorithm in which he and he programer wrote after years of development and back testing.
I guess he was never going to tell me that it was just a moving average crossover system. I also noted that the current trades that they displayed on the day were all currency pairs and commodities that were trending at the time. And then he said that "if you had entered the trade back here (when the lines crossed) you would have made this much in profit by now."
The problem with statement though is that you would never have got in when the lines crossed as the program only updates once a day. So you would have got in the day after the cross.
So does a 3 and a 5 day moving average crossover system work????
Like with all trend following systems, the answer is "Yes, in trending markets only though."
I guess he was never going to tell me that it was just a moving average crossover system. I also noted that the current trades that they displayed on the day were all currency pairs and commodities that were trending at the time. And then he said that "if you had entered the trade back here (when the lines crossed) you would have made this much in profit by now."
The problem with statement though is that you would never have got in when the lines crossed as the program only updates once a day. So you would have got in the day after the cross.
So does a 3 and a 5 day moving average crossover system work????
Like with all trend following systems, the answer is "Yes, in trending markets only though."
Joules MM1
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i decided to see if i could come up with a simple system that could generate income devoid of any indicia and no discretion (yes, that's a tautology, i know!)
anyhoo, i developed a simple suite to prove two things, firstly that it can be done by anyone with simple logic and secondly (this is a long-winded secondly) to prove and give evidence to both sides, that is, if there's a reasonable equity curve it is based on the non-seeable costs involved for a trader, the human being and the dollar downsides.......
todate the system runs in several time frames and in this instance i've based it on a 10 min time scale to smooth out reaction times and clutter of data and is ok on fx or common indecies.....
(edited; i've also run this on 10 second bars on the dax, same rules, same relative result (as a regime)
wont cost you anything to see it, study it, trial it and improve where you like
there is no equity curve published and i have the numbers of points gained in each instance, however, i've not publicised those simply because (oh, a catch!) simply because a trader needs to take the responsibility of seeing evidence by logging future history not past history.........if you want to be a real trader from scratch you need to let go of images of "lifestyle" and get to some basic logic, some basic questioning of how things work, prove to yourelf with evidence and realise that that bloke who runs the local seven eleven throws good milk away to make even more on the stuff he does sell.......
hopefully, Jon won't delete this text
go to topstocks.com.au
go to Discussion tab, Dow Jones (DJIA) thread
go to futures/cfd parallel activities dated 26/01/12
go to post # #733034 (this is where the idea develops)
you need to read the text
look at the .gif/.jpegs charts..... to do that you'll need to log-in (free)
no-one is going to try to sell you anything......it's a well mod'd site just like Trade2Win......slightly different set-up chat site....has a live chat room and you can drop me an email if you want to chat ....a date could be set to have a group talk......
i've been coming here for a few years and mostly post at top$tocks site......should be obvious that i'm not selling anything
anyways, my 2c
if you want to know the point of doing a real time exercise; the original reason was to prove that any system can be invented from scratch and any system run like a steel girder, with money management techniques, can produce an equity curve, however slow the slope might be.......of course, that would lead to a rigid way of conducting business....so, if you want lifestyle trading (that cracks me up) maybe a system dependant on trend breaks and a system that makes you suffer with what's either side of a trending price (and price trends less than it does chopping)......well, maybe its not really for you......
i'm trying to think of something that might sound aussie but everytime i do it sounds like a 1950's movie line.....
did Aussie rob say
corker son, corker cracker bonzai you bute buy this fair dinkum snorking non-shonky loaf of bread i made from angel dust
and only 15 grand .......(out the side of his mouth of the side of side of the stage he was heard to say "pakka clueless plonkers")
anyhoo, i developed a simple suite to prove two things, firstly that it can be done by anyone with simple logic and secondly (this is a long-winded secondly) to prove and give evidence to both sides, that is, if there's a reasonable equity curve it is based on the non-seeable costs involved for a trader, the human being and the dollar downsides.......
todate the system runs in several time frames and in this instance i've based it on a 10 min time scale to smooth out reaction times and clutter of data and is ok on fx or common indecies.....
(edited; i've also run this on 10 second bars on the dax, same rules, same relative result (as a regime)
wont cost you anything to see it, study it, trial it and improve where you like
there is no equity curve published and i have the numbers of points gained in each instance, however, i've not publicised those simply because (oh, a catch!) simply because a trader needs to take the responsibility of seeing evidence by logging future history not past history.........if you want to be a real trader from scratch you need to let go of images of "lifestyle" and get to some basic logic, some basic questioning of how things work, prove to yourelf with evidence and realise that that bloke who runs the local seven eleven throws good milk away to make even more on the stuff he does sell.......
hopefully, Jon won't delete this text
go to topstocks.com.au
go to Discussion tab, Dow Jones (DJIA) thread
go to futures/cfd parallel activities dated 26/01/12
go to post # #733034 (this is where the idea develops)
you need to read the text
look at the .gif/.jpegs charts..... to do that you'll need to log-in (free)
no-one is going to try to sell you anything......it's a well mod'd site just like Trade2Win......slightly different set-up chat site....has a live chat room and you can drop me an email if you want to chat ....a date could be set to have a group talk......
i've been coming here for a few years and mostly post at top$tocks site......should be obvious that i'm not selling anything
anyways, my 2c
if you want to know the point of doing a real time exercise; the original reason was to prove that any system can be invented from scratch and any system run like a steel girder, with money management techniques, can produce an equity curve, however slow the slope might be.......of course, that would lead to a rigid way of conducting business....so, if you want lifestyle trading (that cracks me up) maybe a system dependant on trend breaks and a system that makes you suffer with what's either side of a trending price (and price trends less than it does chopping)......well, maybe its not really for you......
i'm trying to think of something that might sound aussie but everytime i do it sounds like a 1950's movie line.....
did Aussie rob say
corker son, corker cracker bonzai you bute buy this fair dinkum snorking non-shonky loaf of bread i made from angel dust
and only 15 grand .......(out the side of his mouth of the side of side of the stage he was heard to say "pakka clueless plonkers")
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Joules MM1
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it's an old thread ......i suspect there's still a lot of people still getting their goats milked
Joules MM1
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do the reverse of everything you've just said.....that'd be a good start......
this is a business, be business-like......
this is a business, be business-like......
lloydbee
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Good point.
It amazes me at how lightly people treat trading, so much hype i think with images of some poser sitting in the Caribbean in his white pants open white shirt laid out on his chair with laptop at hand... living the dream.
Maybe it's just I value money differently! but trading is a serious thing even if it is just one day per week.
the more information that comes to light about this company, the more it looks as though this is just the Lifestyle Trader company in new clothes. The fact that the Australian authorities has effectively closed the Lifestyle Trader down should be a BIG warning about this new reincarnation.
very true
Joules MM1
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jibberish.....with the added spam link below your text.....on yer bike noddy
craiglees777
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Hi Old Girl,
I was/am a Lifestyle Trader and have consistently done well enough to grow my bank from 20K USD to now 68K USD in 5 Years. I have to disagree with you re you cannot enter trades on Red/Green lines crossing. You can and we have and they work....not all of the time but a lot of the time. The key has always been strong risk management. I have not heard anyone talk of Options Trading much re Lifestyle Trader. How about the strategy ( Yes Low Returns) of selling puts on a friday then buying them back on a monday or tuesday after a few days of time decay? If you have a large enough bank and are responsible and disciplined you can build up your bank with very little risk.....any thoughts?
Yes, that's one of the most stupid strategies I've ever heard. Sure, it will probably work until the one time it doesn't, then 50% - 70% of your equity will be lost within 48 hours.
Whoever recommended this strategy is a naive moron.
