need a little help

[xcx932v]

I`ve tried it and made a loss.

 

[everyonerich]

I`ve tried it and made a loss.

its part of the journey, or most of the people would give up trading already.

 

[AcuteAngle]

I wasn't that impressed with it, and generally had more losers than winners. Even with the winners, you had to get in very quick, or adjust your profit target down if you wanted to ensure you got the required points (i.e. by the time you get on the trade, the market has already moved quite a bit in the direction you want).

Having said that, I think its a valid enough signal, but the time-frames are too short for me.

I'd be interested in hearing any tactics people have for adjusting the system with BBs though?

 

[tomorton]

I am not giving up on the system but I need to really restrict the size of my losers. Modifications I am looking at are -

1. The system gives more winners than losers but only by a slim margin, so the loss on each loser just can not be bigger than the gain. (This raises a difficulty when price moves fast and you get in late ata worse price: you ought then to accept a reduced gain but keep the same stop amount, which re-skews losses to be greater than gains. Go to 2.....)

2. SB qotes often gap at the turn of the 5-minute period: I will be trying entering in the last 30 seconds of the signal bar period.

3. I am splitting positions so that I take profits at the recommended level, but a residual stake continues to ride with a trailing stop of the recommended amount. This looks promising.

4. I am developing a few guidelines for getting out early when in small profit, target not reached, but MACD starts to look weak.

Has anyone tried varying the MACD settings?

The TA this strategy is based on is not wrong, and it is well practiced in various markets. But overall, SB is just a bad vehicle for scalping - the SB charts are not real TA, quotes move to take out the outlying orders, spread of even 2 FTSE points is too much for this style.

And as for going £20 per point, if you think you can afford that risk, please post how.

 

[AcuteAngle]

tomorton - this sounds very good. I'd love to hear how you get on.

I did think about splitting positions on winners, as the when the winners did come, they seemed generally to be above the PT we aimed for.

Have you tried this on any other markets by the way? It was often mentioned that it worked on either FOREX or S&P, but that just seemed like a cop-out when the FTSE results were bad.

 

[tomorton]

Splitting the winners and running half or a third of the original stake is good, but it can reduce you back to half-profit or just break-even so its not an easy thing to do with small numbers of points involved.

Haven't looked at other markets, don't see why the signal should work better elsewhere, but I'd be glad to hear if there was an 'ideal' market for this approach.

 

[Outa my gourd]

Being a total newbie to trading, I was looking for a "fire and forget" method and Wealth Builder seemed to tick the boxes. After trading for the whole of April, I'm disappointed by the results and about to get my refund. A shame, as Neil Leitch comes across as a really pleasant and genuine guy in his daily emails and it seems that April has been exceptionally poor for the system. Of course, I can only personally vouch for April's performance, hence not risking another poor month with no chance of a refund at the end of it.

 

[XPat]

Being a total newbie to trading, I was looking for a "fire and forget" method and Wealth Builder seemed to tick the boxes. After trading for the whole of April, I'm disappointed by the results and about to get my refund. A shame, as Neil Leitch comes across as a really pleasant and genuine guy in his daily emails and it seems that April has been exceptionally poor for the system. Of course, I can only personally vouch for April's performance, hence not risking another poor month with no chance of a refund at the end of it.

I was following a blog which gave some monthly results for this, but it hasn't been updated since Feb's results on 18th Mar, so it gives me the impression that it wasn't doing well in March either. It seems that it's now no longer available, anyway.

Canonbury have just launched a new FTSE system by a different author called "Sure-Fire Evening Trader" where a single(?) trade is placed every evening prior to the following day's market opening.

I'm not sure how credible it really is, but may be worth a try under the 30-day guarantee, and it's £60 cheaper. It's supposedly undergone testing since February.

I won't be looking at it immediately though, and it may depend on having an account with the right firm(s), so if anyone is brave enough to try it soon, then I'd be very grateful for that item of information, please.

 

[Splitlink]

Splitting the winners and running half or a third of the original stake is good, but it can reduce you back to half-profit or just break-even so its not an easy thing to do with small numbers of points involved.

Haven't looked at other markets, don't see why the signal should work better elsewhere, but I'd be glad to hear if there was an 'ideal' market for this approach.

I've tried that method a few times because I have to stop trading at 1330. I've been disappointed, more times than not. I'm inclined, now, to taking most, if not all, of my profits. Coming home later and seeing that my running trades have been stopped is very disappointing, especially when the profits at 1330 were better than normal.

 

[Heavens_Adversary]

Can I ask everyone just quickly for the OVERALL consensus of this system? I have probably read equal amounts of good/bad review but I am a complete novice and just want something to make say £1500 a month will do but..........................Will this do???

thanks everyone.

 

[AcuteAngle]

LOL, we all want something to make us 1.5k a month mate, but I don't think there is any "system" being sold that will do this. If there is, I'd love to hear about it.

The product is no longer for sale as far as I know, so if you've haven't purchased then no decision. If you have purchased, I'd suggest paper trading via a demo account (try Victor Chandler as the charts are live unlike Capital Spreads demo). You can then make up your own mind...

 

[Outa my gourd]

Can I ask everyone just quickly for the OVERALL consensus of this system? I have probably read equal amounts of good/bad review but I am a complete novice and just want something to make say £1500 a month will do but..........................Will this do???

thanks everyone.

Let me put it this way: Over the past month of trading this system, I went from hopeful optimism to "Time to get up and lose some more money".

I apologise to anyone who's made money from the system, this is just my experience. I would add that I followed the instructions of the system to the letter too.

 

[mattyy]

Guys
I have this, and I have added my own "rules" and so far it works well. yes it can be done on the ftse and eur/usd.

Try doing limits of 10, and the same stop loss of 15.

And ignore repeaks. Just trade colour changes and don't bother with the macd signal being more than 0.09.

Paper trade this for a week and let me know how you get on.

Matt

 

[Outa my gourd]

Guys
I have this, and I have added my own "rules" and so far it works well. yes it can be done on the ftse and eur/usd.

Try doing limits of 10, and the same stop loss of 15.

And ignore repeaks. Just trade colour changes and don't bother with the macd signal being more than 0.09.

Paper trade this for a week and let me know how you get on.

Matt

Thanks for the tip, Matty. I'll let you know.

 

[AcuteAngle]

Good stuff Matty, how long have you been doing this for, and what kind of win percentage have you got so far?

I think a fundamental issue with the original setup the risk/reward ratio. So I'd be more inclined to go with something around 1:1.5 rather than 1.5:1. Of course, it depends on the actual win ratio.

 

[SvenFoster]

Good stuff Matty, how long have you been doing this for, and what kind of win percentage have you got so far?

I think a fundamental issue with the original setup the risk/reward ratio. So I'd be more inclined to go with something around 1:1.5 rather than 1.5:1. Of course, it depends on the actual win ratio.

Your bang on AA,
One number means nothing without the other.
Take a peep at Random Equity Curve Simulator of a trading system. Learn it before you trade is you get a chance and plug in you win rate and average percent and see how it fairs.
The links a bit old but it does work.
Cheers Sven

 

[AcuteAngle]

Good link, thanks Sven. I'll have a play around with some values I find from testing some amendments to this myself.

 

[GammaJammer]

Yet another thread about a black box system, populated (with the exception of Sven) almost entirely by posters who just happen to have decided to start posting on T2W at / around the same time. How uncanny....NOT


zzzzzzzzzzzzzzzzzzzzz


cmon guys - TRY and be a little more creative than this - it's insulting.

I'm gonna open up a competition - lets see who can actually come up with a plausible snake oil marketing thread. Winner gets some cash.

 

[AcuteAngle]

Eh?

Most of the comments I've seen here have been pretty negative about this product. I personally returned it for a refund a week before 30-days were up. I wouldn't suggest to anyone they purchase it personally.

But please, offer up a competition - I'm always up for some free money.

 

[Outa my gourd]

Yet another thread about a black box system, populated (with the exception of Sven) almost entirely by posters who just happen to have decided to start posting on T2W at / around the same time. How uncanny....NOT


zzzzzzzzzzzzzzzzzzzzz


cmon guys - TRY and be a little more creative than this - it's insulting.

I'm gonna open up a competition - lets see who can actually come up with a plausible snake oil marketing thread. Winner gets some cash.

I hope the other advisers are more supportive (and perhaps less cynical) than you, GammerJammer. As has been said, we're not the biggest fans of this system. If you check out eBay while you're surfing, I'm sure you could get a decent set of reading glasses - save your cash for them.