Please advise - Coin Collector

[wally_]

BTW, do you really think that this system is any better than the CC?

Thanks...

Rob,

I am sorry that I have been so slow to reply to your questions. I still do not have the time to address them in a comprehensive manner as I am busy working on my website. When I am done with it, which should hopefully happen this month, I will return to your posts. Thanks for your patience.

Wally

 

[rob_klo]

Rob,

I am sorry that I have been so slow to reply to your questions. I still do not have the time to address them in a comprehensive manner as I am busy working on my website. When I am done with it, which should hopefully happen this month, I will return to your posts. Thanks for your patience.

Wally

Wally,

thanks for your reply. I am looking forward to your hopefully more elaborate post...

 

[rob_klo]

Rob,
I was asking for information concerning CC quite some time ago. See Thread #45 and on.
All I received was a little "cheerleading for Rockwell"s cause". It only took 3 weeks of steady losing to learn an expensive lesson.

I feel your pain, but I am afraid I would not have been able to help you even if I had supported Wally's opinion at the time he had posted his critique of the system. The reason is quite simple. People tend to fall for hype, they want to hear only good news and do not want to accept bad ones.

Look at Wally's most recent post in the Edge System thread. I am sure you can easily get Wally's point which is that the whole thing is more hype than the beef as was also the case with the CC system. So what is the reaction to his post and what is the point of his adversaries? Well, they have no point, they just nitpick, they split hairs over whether we should call it plagiarism or not. BUT that is not even Wally's point!!!

Now, let's look back to what happened here. One of posters that disagreed with Wally's opinion praised the professionality of the Rockwell team. Now, that's nice, but what does this have to do with the system itself? Nothing... Now, I don't know about you guys, but I am not one of those people who would call a car salesman a "professional" after he sold a lemon. Yet some posters here would still insist on the Rockwell professionalism even when everybody knew that they had bought a lemon from these "professionals".. Well, it's called a denial...

Now, that's enough of this ranting... I joined this board only because I noticed that Wally was here too. And the only good piece of advice I can give you for future is to pay attention to what he says because you can only benefit from that as I did many times. Too bad he does not post very often, but knowing what response he usually gets I am not particularly surprised by his reluctance to post.

 

[wally_]

Wow, what an overwhelming response... :cheesy: Traders helping traders. That's what I really like about this board. I bet that you will get a reply to your question right after this system starts going south.

BTW, do you really think that this system is any better than the CC?

Thanks...

Rob,

the Andy's Open Bar system is fine with me, at least it is much better than CC. There are some caveats though, the main of which I have already alluded to in my last post regarding this system, that is the system is not doing what it is supposed to be doing. Today the system (again, see my last post where I noted that the first time) took two trades (it is supposed to trade only once a day) and yesterday its 5 pt stop loss was not respected and as a result the system posted a 2.5 gain instead of a 5 pt loss. Check out the C2 report page for this system to see what I mean. It does not look to me that the developers have a complete control over the system and when you see something like can you really be sure that the system was properly backtested?

Another thing is the non-fill slippage for this system. I would like to know it before I ever considered trading it. This is not as serious here as it was in the case of CC though, because this system does not trade as frequently and so this problem does not get compounded.

I prefer systems like this one and would definitely avoid anything mechanical that trades 50 or more times a month. A good mechanical system should not trade more often than 20 times a month. Especially when it comes to ES.

You may want to start a new thread if you want to learn more about this system. Perhaps then you would get more response.

Wally

 

[wally_]

BTW, Wally you also mentioned that you would be offering your systems to the public. Have you started doing this yet?

Yes, I intend to sell a limited number of copies of a few of my systems. I am staring with one system for ES called 'George I' that comes with some free bonus and with one method for trading stocks. This is my original work. If I see that there is demand for this stuff, I will release more systems, if not, I won't probably bother.

'George I' is similar to the Andy's Open Bar system because it trades at most once a day (and really at most once a day!), it uses limit orders for entries and its maximum stop-loss is 4.75 pt. However, in my backtesting and forward testing, I rejected the trades that would produce the non-fill slippage and as a result the system shed about 30 pts over the last 4 quarters in would-be profits. Obviously, when you design systems for your own use you do not want to fool yourself with bogus profits.

This might be the simplest and easiest to trade system you will ever buy. It is fully disclosed and its price is pretty affordable too.

If you want more info about this system, send me email at [email protected] and put 'George I' in the subject of your message.

Thanks,
Wally

 

[zachxx]

Insider Signal?

Just received from Fleet Street publications a new system by Andy X trading on the Forex market using his "Insider Signal" to trade. Cost nearly £2000 with 30days guarantee. He's 25 and now retired. Has anybody any comments regarding this system?

I have just received the same advert from them. Costs £2322.98 what a strange amount.
Sounds dodgy to me... but then again FSP offer a 30-day money-back guarantee.

He makes some odd claims. Investment banks make their profits not from trading stocks but almost all from forex. Well, the investment banks I used to work for didn't make all their profits from Forex.

 

[rob_klo]

Yes, I intend to sell a limited number of copies of a few of my systems. I am staring with one system for ES called 'George I' that comes with some free bonus and with one method for trading stocks. This is my original work. If I see that there is demand for this stuff, I will release more systems, if not, I won't probably bother.

'George I' is similar to the Andy's Open Bar system because it trades at most once a day (and really at most once a day!), it uses limit orders for entries and its maximum stop-loss is 4.75 pt. However, in my backtesting and forward testing, I rejected the trades that would produce the non-fill slippage and as a result the system shed about 30 pts over the last 4 quarters in would-be profits. Obviously, when you design systems for your own use you do not want to fool yourself with bogus profits.

This might be the simplest and easiest to trade system you will ever buy. It is fully disclosed and its price is pretty affordable too.

If you want more info about this system, send me email at [email protected] and put 'George I' in the subject of your message.

Thanks,
Wally

Hi Wally,

Thanks for your replies. I am looking forward to learning more about your system and I hope that your business will do great. Good luck.

Rob

 

[rob_klo]

Rob,

the Andy's Open Bar system is fine with me, at least it is much better than CC. There are some caveats though, the main of which I have already alluded to in my last post regarding this system, that is the system is not doing what it is supposed to be doing. Today the system (again, see my last post where I noted that the first time) took two trades (it is supposed to trade only once a day) and yesterday its 5 pt stop loss was not respected and as a result the system posted a 2.5 gain instead of a 5 pt loss. Wally

This thing happened again, 2 trades a day yesterday... C2 is quite a joke, it can't even confirm what the system has incorporated in its design... boy, that stinks!

 

[rolling]

The Insider Signal

I have just received the same advert from them. Costs £2322.98 what a strange amount.
Sounds dodgy to me... but then again FSP offer a 30-day money-back guarantee.

He makes some odd claims. Investment banks make their profits not from trading stocks but almost all from forex. Well, the investment banks I used to work for didn't make all their profits from Forex.

Hi did you go ahead with trading offer or did you find out any more about it

Roy

 

[rob_klo]

Hi,

I think that's very pertinent to this thread:
http://www.eminimethods.com/advice_a3.html

Too bad that some of you did not pay attention to what Wally was trying to tell you months ago, but hopefully at least others can learn from your experience.

It takes an honest vendor to tell you all about the limitations of trading systems. Most vendors just sweep it under the rug covering their butts with the standard disclaimer.

So learn before you invest your money in yet another get-rich-quickly-trading-eminis scheme. There is money to be made in eminis, but don't assume that there is some white knight out there to help you out. Unfortunately, as with everything else, it takes work to succeed at it.

Rob