The Daily Index Trader
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stevespray
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I think also, regardless of trading, people should have a small amount of consideration of how the home publishing industry works when it comes to this kind of thing. These people make their money through sales of the products and not through trading. Always bare that in mind. Now I’m speaking generally here and I don’t people to think that I’m referring just to DIT.
Statistically, when it comes to trading, a large percentage of system writers, teachers and self proclaiming gurus cannot actually trade for themselves. In most cases they’ve tried and failed badly. Instead what they see (from a business perspective) is that the trading world offers them a ‘hungry audience’ if they can write and promote the right kinds of products. Thus springs up a new business direction which is obviously connected with trading but isn’t trading.
Be aware that many of these products are written under a pen name or ‘non de plume’ if you will. Fairly acceptable you might argue. After all who wants personal callers at your home or telephone calls in the middle of the night? The only problem with this is when authors use several aliases. Suddenly the would be purchaser cannot make such a reasoned decision when it comes to deciding if he wants to buy the latest hyped up system. I’m not saying that ‘Martin Carter’ is either one or the other but the way the system is presented along with the weekly updates seems very familiar to me. I remember that ‘Surefire Evening Trader’ worked along fairly similar lines in terms of updates etc. Ultimately, if I recall correctly, that system seemed to lose money. Just like DIT the author would constantly refer to “past profits” when there was a losing week. It didn’t seem to matter that there weren’t any profits for people who’d bought the product at general release.
People have mentioned the test results which are stated in the sales letters. Personally I only start recording results once I am in receipt of the item. Call me a mega sceptic but I see the massive conflict of interest between which the system promoter has to manage. One the one hand they want to record actual results but on the other hand there is the overriding need to sell their product in order to make ends meet. There’s a clear conflict there.
Steve.
Statistically, when it comes to trading, a large percentage of system writers, teachers and self proclaiming gurus cannot actually trade for themselves. In most cases they’ve tried and failed badly. Instead what they see (from a business perspective) is that the trading world offers them a ‘hungry audience’ if they can write and promote the right kinds of products. Thus springs up a new business direction which is obviously connected with trading but isn’t trading.
Be aware that many of these products are written under a pen name or ‘non de plume’ if you will. Fairly acceptable you might argue. After all who wants personal callers at your home or telephone calls in the middle of the night? The only problem with this is when authors use several aliases. Suddenly the would be purchaser cannot make such a reasoned decision when it comes to deciding if he wants to buy the latest hyped up system. I’m not saying that ‘Martin Carter’ is either one or the other but the way the system is presented along with the weekly updates seems very familiar to me. I remember that ‘Surefire Evening Trader’ worked along fairly similar lines in terms of updates etc. Ultimately, if I recall correctly, that system seemed to lose money. Just like DIT the author would constantly refer to “past profits” when there was a losing week. It didn’t seem to matter that there weren’t any profits for people who’d bought the product at general release.
People have mentioned the test results which are stated in the sales letters. Personally I only start recording results once I am in receipt of the item. Call me a mega sceptic but I see the massive conflict of interest between which the system promoter has to manage. One the one hand they want to record actual results but on the other hand there is the overriding need to sell their product in order to make ends meet. There’s a clear conflict there.
Steve.
Alastair10
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I can only echo Steve's sentiments. It applies to trading, internet marketing and all the other 'home-business' opportunities business.
The only way forward is to suck it and see with a healthy degree of paper trading and constructive scepticism. Then send it back if you can within the guarantee period. As with many other things in life if it is too good to be true, then it usually is.
On the particular subject of Daily Index Trader, the initial results were good but statistically the correlation started to get fuzzy, consequently any fixed system will break down. I remember another system 'Intelligent Traders Club' which did very well for a time using paired trades, then market conditions changed. At least the proprietor then pulled the service.
Personally this is where I find this forum invaluable and I wish I had come across it a couple of years ago it would have saved me some considerable time and treasure..
Finally 'buyer beware' ....
The only way forward is to suck it and see with a healthy degree of paper trading and constructive scepticism. Then send it back if you can within the guarantee period. As with many other things in life if it is too good to be true, then it usually is.
On the particular subject of Daily Index Trader, the initial results were good but statistically the correlation started to get fuzzy, consequently any fixed system will break down. I remember another system 'Intelligent Traders Club' which did very well for a time using paired trades, then market conditions changed. At least the proprietor then pulled the service.
Personally this is where I find this forum invaluable and I wish I had come across it a couple of years ago it would have saved me some considerable time and treasure..
Finally 'buyer beware' ....
SteveBanks
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Hi Steve,
I agree 100% with what you say. It's very difficult to decide on whether a system is worth buying or not. Leonarda is right that the ideal situation is to study and develope your own trading system or methodology.
In my experience about 99% of all systems marketed don't make money for those who buy them. I 've spent years buying and trying various money making "opportunities" not just trading systems. I haven't got a crystal ball and have no idea whether Daily Index Trader will produce the sort of results that it recorded last year. I looked at the information provided and decided that it was something worth giving a go.
With a 45 day money back guarantee it's possible to paper trade and see enough results to decide whether to keep it or send it back. I'm using real money during the trial period because I have found that unless you actually place real trades in the market you can't assess the practicality of obtaining prices quoted by the system vendors.
In the end it's a personal decision as to whether this system works and that's why we're all making use of this forum to share our thoughts and experience in trading it so that come the end of the 45 days we can either keep it or send it back.
Of course those who decide soon after getting it that it's not for them can send it back straight away. I have done that many times. I just felt that this system was worth giving a bit longer.
Anyway, that's my rambling for this morning. Good luck today
SteveBanks
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Some of you will remember that earlier in the thread I relayed the information I got from Martin Carter with regards to the Enhanced Profit setting picking up when the two markets suddenly started to trade in a way that wasn't possible to trade using Daily Index Trader.
Well as we know the markets haven't correlated well in the last few days and certainly not today and sure enough my Evaluator has told me not to trade today to protect my funds.
Has anyone else's Evaluator given them a no trade signal?
Well as we know the markets haven't correlated well in the last few days and certainly not today and sure enough my Evaluator has told me not to trade today to protect my funds.
Has anyone else's Evaluator given them a no trade signal?
jonboysport
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Mines normal,trade as usual Steve.Do you know in the historical data if both trades have ever won on the same day
SteveBanks
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It's not happened since the trial started in sept 2009 jonboy, it would be good if both did win. It's possible.:|
Haven't seen a no trade signal on mine, what does it look like? Does this only woork in enhanced profits mode?
Steve
Mine has given me £0.00 on each pair too, I take it that means we stay out today
SteveBanks
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It just gives 00.00 stakes for both markets. I imagine it only applies to the Enhanced setting.
NEIL-PILKY
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I have got a no trade signal today, stakes on CAC and DAX 0.00, maybe because its NFP today
SteveBanks
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The Evaluator has picked up that the markets aren't correlating and so the system won't work.
Hmmm. Just changed mine to the Enhanced setting, and it's still giving a stake. However, as I've not been trading more than 2 weeks, am I right in thinking the risk % on the Enhanced setting will remain flat until there is some data to analyse?
Will be prudent and stay out today. Thanks for the heads up.
Steve G.
SteveBanks
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Yes Steve, the Enhanced setting needs two weeks input before kicking in.
My understanding of the Enhanced Profits staking is that it will show no trade if historically Fridays have been a failure. As I have only trialled this recently, mine shows a trade, however looking at the Results Analysis for me Fridays are loss days. I am staying out today, but wish those success who trade. Gekko charts are not that user friendly, and I may look at IG Index real time charts who don't charge if you make at least 2 trades a month I think, if not its £30/mth. Lots of useful contributions on this forum, and the support really helps when you're on your own trying this.
Good Morning Everyone, having a no trade day is quite normal. If you look at the previous 2 fridays results, you will see these as losing days. The evaluator automatically either reduces your stakes or lets you know it is a no trade day to protect your bank. You still need to put your entry prices in the evaluator using the gekko charts as if you were trading as normal today and then the limit profit or stop losses depending if the trades win or lose. If we have a winning day today, then next friday will be a small stake, if we have a losing day then next friday will also be a no trade day. This only works on the enhanced strategy but it is good to know that if things arent going our way our banks are protected. I am assuming those that have trades on today have only just started using the evaluator in last week or so and havent yet built up enough trading history for the evaluator. Good luck to those who are trading today.
SteveBanks
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As I mentioned, the other factor that the Evaluator picks up is when the trends of the two markets aren't correlating. Which they aren't.
