fx 53 trend following system

Has anybody bought/used this system as the results seem spectacular even allowing for charges/slippage

Regards

Simons1874

SIMONS1874 said:

Has anybody bought/used this system as the results seem spectacular even allowing for charges/slippage

Regards

Simons1874

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Hi Simon,

Perhaps you could give us a link?

Ah right, I googled it (as you do): Welcome to FX53.com | forex trading, trading system, spread betting

I looked at the website. The results illustrated are indeed spectacular. Increase your capital 12 fold in 7 months! Too good to be true? The illustration videos on the site are a bit bamboozling, or maybe I am just too thick to follow them. Normally I am quite sharp. I would prefer to see some static charts, so that I can go through them at my own pace.

I exchanged a few emails with the vendor. Can't make out how one sets up the data feed. He says one has to use a free demo account with CMSFX to get the data, and this is then fed in to the FX3 system, which integrates with Visual Trader, whatever that is. So what guarantee of the reliability or even the continuity of free data? I am definitely not an expert in this technical stuff, and I would hate to buy the system with no money back guarantee and then find I couldn't get it to work for some reason.

And all this to consider and resolve before any thought of deciding if the trading methodology would suit me.

I need to visit the office for an in depth demo before any further discussion. Obviously if anyone has experience of the system it would be interesting to hear of it.

Since writing the above, the vendor has said he is too busy to meet me because he says he is a "full time trader". So he's a one man band it seems, doing this trading software business on the side. Given the spectacular results, I am inclined to think he would do better to stick to just trading. An exponential growth curve based on growth as claimed would make him a multi-millionaire in no time at all. Without the hassle of difficult customers asking silly questions!

watched the video, he seemed to be an ok trader. I dont think his system is that wonderful honestly. it seems that it is a case of overfitting. the advantage of this system is its not a black box and you can actually see how it works. the question is how do you react to the drawdowns and how does this system tie in with your character and risk-aptitude...

I have had several further email exchanges with the vendor. I must say I am starting to be quite impressed. Initial misgivings certainly allayed. He has been willing to communicate patiently, respectfully and intelligently with me. I shall be following up, and am very likely to buy in.

good luck

SandyW said:

I have had several further email exchanges with the vendor. I must say I am starting to be quite impressed. Initial misgivings certainly allayed. He has been willing to communicate patiently, respectfully and intelligently with me. I shall be following up, and am very likely to buy in.

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Thanks Sandy
I bought it yesterday so I will use it alongside CONCEPT fx which I also use ( altho I wish I had closed out the position yesterday evening as chasing 20 points with a stop loss of 60 hardly looks like a good trade altho we will have to wait and see)

Do you use any other bought systems?

Regards

Simon

SIMONS1874 said:

Thanks Sandy
I bought it yesterday so I will use it alongside CONCEPT fx which I also use ( altho I wish I had closed out the position yesterday evening as chasing 20 points with a stop loss of 60 hardly looks like a good trade altho we will have to wait and see)

Do you use any other bought systems?

Regards

Simon

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Simon,

Good to have your input! Especially as you have bought in. I would be very interested to hear of your experience with it.

If you are following the Concept thread you probably see me on there (and rather too much probably!). I really appreciate Concept, I think it is good for me. But it is frustrating not being able to function independently as a successful trader. Hitherto, independence has equalled failure for me. Of course one is hoping to get faster capital growth than Concept seems to offer.

I used Tradewin for a few months, with initial success, although slippage prevented me matching the results they published on the website, and then their success ebbed away anyway, so I stopped.

I am thinking of buying in to something like this:

Vision4X - Automated Forex Trading systems and trading signals

which requires a monthly subscription (cancellable at any time) rather than outlay of precious capital. What do you think?

As for Concept's current trade which looks as if it may stop out, I was tempted to close it
when it was back at 10520, but hung in as a matter of discipline. Then tempted again at 10600, but hung in. So now I am resigned to whatever will be. I was pleased when they tightned up the stop and lowered the target, as that was my instinctive reaction looking at the chart. Whatever, at least I am in profit after 7 trades. Not guaranteed to last of course, as one has to expect ups and downs.

SandyW said:

Simon,

Good to have your input! Especially as you have bought in. I would be very interested to hear of your experience with it.

If you are following the Concept thread you probably see me on there (and rather too much probably!). I really appreciate Concept, I think it is good for me. But it is frustrating not being able to function independently as a successful trader. Hitherto, independence has equalled failure for me. Of course one is hoping to get faster capital growth than Concept seems to offer.

I used Tradewin for a few months, with initial success, although slippage prevented me matching the results they published on the website, and then their success ebbed away anyway, so I stopped.

I am thinking of buying in to something like this:

Vision4X - Automated Forex Trading systems and trading signals

which requires a monthly subscription (cancellable at any time) rather than outlay of precious capital. What do you think?

As for Concept's current trade which looks as if it may stop out, I was tempted to close it
when it was back at 10520, but hung in as a matter of discipline. Then tempted again at 10600, but hung in. So now I am resigned to whatever will be. I was pleased when they tightned up the stop and lowered the target, as that was my instinctive reaction looking at the chart. Whatever, at least I am in profit after 7 trades. Not guaranteed to last of course, as one has to expect ups and downs.

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Thanks Sandy

I will have a look at your site

I was going to sign up for Tradewin but the results were just on the turn and they werent updating the site regularly

I trade my own SIPP so I know how hard ,particularly at the moment it is to make money out of stocks so preferred the idea of forex
Have you looked at PrecisionTrader

This is a set of teaching/coaching webinars for doing your own trades which I have signed upto

I am quite impressed with it
It tells you what to look for in a high probability trade and you are basically looking for as many signals as poss to increase your chances

I think with discipline it will work altho I am not yet trading it with cash

Have a look also at Trendsignal which I have also signed up for
I am looking forward to my winning trades being greater than my subscription fees!!

Kind Regards

Simon

Sandy/Simon,

Any feedback on using fx53 is gratefully received. I am considering buying this as entry cost is a lot lower than Conceptfx. Did you pay £695 + vat = £816 for fx53?

How does it do with drawdown? Or, does it not apply because it's a spread bet?

I can only open/close trades in the evening as my day job permit.

Thanks.

tfg

Hi Sandy,

the vison4x website is very impressive, have you found out any further information?

I like the idea of the monthly subscription and at around £30 a month could be worth trialing it out for a while.

let me know how you get on?

Thanks

SandyW said:

Simon,

Good to have your input! Especially as you have bought in. I would be very interested to hear of your experience with it.

If you are following the Concept thread you probably see me on there (and rather too much probably!). I really appreciate Concept, I think it is good for me. But it is frustrating not being able to function independently as a successful trader. Hitherto, independence has equalled failure for me. Of course one is hoping to get faster capital growth than Concept seems to offer.

I used Tradewin for a few months, with initial success, although slippage prevented me matching the results they published on the website, and then their success ebbed away anyway, so I stopped.

I am thinking of buying in to something like this:

Vision4X - Automated Forex Trading systems and trading signals

which requires a monthly subscription (cancellable at any time) rather than outlay of precious capital. What do you think?

As for Concept's current trade which looks as if it may stop out, I was tempted to close it
when it was back at 10520, but hung in as a matter of discipline. Then tempted again at 10600, but hung in. So now I am resigned to whatever will be. I was pleased when they tightned up the stop and lowered the target, as that was my instinctive reaction looking at the chart. Whatever, at least I am in profit after 7 trades. Not guaranteed to last of course, as one has to expect ups and downs.

Click to expand...

tfg said:

Sandy/Simon,

Any feedback on using fx53 is gratefully received. I am considering buying this as entry cost is a lot lower than Conceptfx. Did you pay £695 + vat = £816 for fx53?

How does it do with drawdown? Or, does it not apply because it's a spread bet?

I can only open/close trades in the evening as my day job permit.

Thanks.

tfg

Click to expand...

Hi,

Simon may be the better person to answer you. But from my email exchanges with the vendor it does seem to be a fair system. However I doubt very much that you would be able to relax and leave it to do its thing during the day. It does not give you targets to set open orders or to take profits. Those things have to be done by you in real time. You can of course set stoplosses, and the system suggests the levels that would be appropriate. Basically you get a lot of freedom to do the work, without over much thinking. As with all systems, it can be difficult to judge whether it would suit you personally. A system which doesn't suit, no matter how technically valid, will be a flop for you. I will probably buy in in due course.

If you are a new trader, you would be better off with Concept in my opinion, but of course cost is a big big problem.

BTW the website says the price of £695 includes VAT and delivery, there is nothing to add.

masif1 said:

Hi Sandy,

the vison4x website is very impressive, have you found out any further information?

I like the idea of the monthly subscription and at around £30 a month could be worth trialing it out for a while.

let me know how you get on?

Thanks

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Asif,

I have bought in for the first month. I haven't sussed exactly what the signals are based on. All I can say is I haven't acted on any yet, as the win loss ratios of the target and stop look very adverse to me. I cannot imagine what strategy they follow. Maybe I am thick.

I will probably cancel.

Sandy

Hi Sandy,

Thanks for your reply,

would it not be an idea to setup a paper trading account and act on the alerts from that?

Vision4x sounds like a similar system to Concept regarding EOD trading and alerts sent with entry, stop loss and objectives. As there is no software involved how do you receive the alerts?

Also the website claim to make on average 1000 pips per month! But don't show actual results like Concept do.

SandyW said:

Asif,

I have bought in for the first month. I haven't sussed exactly what the signals are based on. All I can say is I haven't acted on any yet, as the win loss ratios of the target and stop look very adverse to me. I cannot imagine what strategy they follow. Maybe I am thick.

I will probably cancel.

Sandy

Click to expand...

masif1 said:

Hi Sandy,

Thanks for your reply,

would it not be an idea to setup a paper trading account and act on the alerts from that?

Vision4x sounds like a similar system to Concept regarding EOD trading and alerts sent with entry, stop loss and objectives. As there is no software involved how do you receive the alerts?

Also the website claim to make on average 1000 pips per month! But don't show actual results like Concept do.

Click to expand...

Hi Asif,

At present I am just watching. But paper trading will be the next step. I suggest you sign up to Vision4x yourself and paper trade it. Which SB company do you use for your paper trading?

With Vision4x you get a daily email, telling you the signals are available on the website. You then go to the website, and you can see the window as given in their example. It is very straightforward in that respect, and it certainly shows that it is not necessary to use special interface software like Concept do. I have always had a suspicion that Concept have the client software, so that they can say they are selling a "successful trading system" rather than a "signals system" and justify the expense more easily. But maybe they have plans to develop it. The biggest limitation with Concept is that it ties you to your own computer with internet connection, and you cannot just use it anywhere, eg on a friends PC or at an internet cafe if travelling. This is very self defeating, but they say they have no intention to change, ie will not offer the service by text, by email or on a website.

As you say, Vision4x don't publish any results.

Hi Asif again,

I've been looking at the Vision4X signals for today. They seem to make sense, but I am not sure with this system whether, in the case of a stop entry, one should wait for the entry price they signal to be reached (as with Concept-FX) or whether one should simply enter if the current price is better. I have emailed my question to Vison4x and await their reply.

In general though, I am beginning to think this could be an excellent service. I think they should give clearer instructions.

As regards published results, Vision4X do say audited results are available to members, but so far I have been unable to find them, or how to get them. Maybe I'm missing something.

Hi Sandy,

have you asked them about the results?

That doesn't make sense to only show the results to members, surely they'd want to attract new customers by showing their results to the public especially if they are avergaing 1000 pips a month. But Hey I guess if your making 1000pips a month then selling the system is only secondary

SandyW said:

As regards published results, Vision4X do say audited results are available to members, but so far I have been unable to find them, or how to get them. Maybe I'm missing something.

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masif1 said:

Hi Sandy,

have you asked them about the results?

That doesn't make sense to only show the results to members, surely they'd want to attract new customers by showing their results to the public especially if they are avergaing 1000 pips a month. But Hey I guess if your making 1000pips a month then selling the system is only secondary

Click to expand...

Hey Asif!

You didn't answer my question as to what SB company you use for your paper trading.

As regards Vision4X, I am very willing to pass on information, as you know. But if you are genuinely interested in the system it would be better for you to ask questions etc directly with the vendor yourself, rather than keep prompting me as to what I should do or ask. Then if you get some useful info, you can pass it to me. It works both ways. But I have actually put some money up front on this, so at the moment it is a bit one sided.

Hi Sandy,

i'm using Capital spreads but i only have a demo account with them as do not have the finances yet to fund an account.

The problem with the demo account is that you can not trade on all the currency pairs.

SandyW said:

Hey Asif!

You didn't answer my question as to what SB company you use for your paper trading.

As regards Vision4X, I am very willing to pass on information, as you know. But if you are genuinely interested in the system it would be better for you to ask questions etc directly with the vendor yourself, rather than keep prompting me as to what I should do or ask. Then if you get some useful info, you can pass it to me. It works both ways. But I have actually put some money up front on this, so at the moment it is a bit one sided.

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Hi Sandy,

I also noticed another thing, the testimonials were for a product called panther forex, i googled it and the site is very similar to vision4x. Panther Forex - Automated Forex Trading systems and trading signals

they maybe re-branding their product?

But the company address is different.

I have emailed both email addresses, with some questions. Lets wait and see their response.