I checked the cftc.gov and didn't find anything bad on him. Sounds like alot of hype to me but it might be a good system. He does give 200% back guarantee which I wonder IF they would really honor. I am sure you would have to prove you made 10 trades and didn't get back 10 times your investment. However, I am suspect of anyone that hypes hypothetical trades or "real time" trades. They simply are not the same as real trades. Maybe you could ask them to furnish real brokerage statements as proof of trades made with the system. It would be interesting to see if they give 200% of your money back!perry said:
perry said:
homeforex said:
chestney said:Been there, bought that, amongst other things.
I guess we all go through the lets but the holly grail for a couple of hundred pounds.
On the plus side, the author spent some time with me on the phone, going through set ups, during live trading.
On the negative side, it is a simple divergence play, available for free on the internet.
It might even be an interpretation of The Edge system that has had some discussion on these boards.
You might also find your paper trading doesn't match your live results, with poor fills, and buy orders not executed.
Then you add in the R/R ratio of 1:1, and worse, it all starts to get messy.
Don't be seduced by the published results.
A loss is shown as stopped out, and a win by the maximum number of points available on that move.
So if you add them up at the end of they day, it can look seductive, but the p/t is only 2 points.
So the results should be viewed as suffering from sales mans licence.
If you are genuinely enjoying your paper profits, I would advise caution, you are only seeing the tip of the trading ice berg.
If on the other hand, you are just trying to drive traffic to your site, you may have come to the wrong place.
homeforex said:
that a million guys looking for something for very little would have this thing proved/disproved in a nano second...almost.......yes, it works or no it won't.....there are only a very limited # of scenarios that the market can produce.......for anyone to find something "new" to sell that is superior to all the things that already "work" is highly unlikely........the trading challenge is the trader .....not the market.......the trader must and without exception will go thru the transitional stages from "how do i turn this thing on" .....to i have seen it do all it can do........proven by the fact that i keep seeing the same limited # of contortions/gyrations/patterns........this takes alon g time...most of all tenacity.......years usually.....the book of any kind cannot tell anything i have not already seen, not saying i saw the picture in the same way as book points out......but i have seen it......maybe i was on the 1 min chart giving 60 pictures for mind to work on, or 1 in the same time on the 60 chart.........all depends on trader's happy plate.......1 to 90 and all in between......how much info do i want to absorb......the eyes see the mind internalizes it with bias almost always, until years teach us not to do that if we cna't handle it......buying expensive books or anything else won't help high probability.......that is someone else's edge, not yours.........work for it .....emini daytrading talkneil said:
onlychestney said:
homeforex said:Thanks for the reply. Your memory serves you right, it does seem that there needs to be a high hit rate for the system to work well. The author claims 70-80% accuracy. However on my back testing I have not found that to be the case, I am still ploughing through some months of data, but it's not looking as rosy as I first thought.
