minx
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Well done, can you publish your p/l statements to prove this? Also why does the HF need to employ you when they can just buy this amazing piece of software which is so profitable that the creator decided to sell it instead of making hundreds of billions from his own trading?
PenL said:
True you didn't however that is how your post comes across.
I also think the statement re "80% accuracy" needs to be clarified as this does not necessarily translate to 80% profitable trades,
regardless what the marketing blurb says........... I also think that you need a lot of money in your account to trade this successfully and still have good position and money management rules.
Congratulations on your job in the HF, but it begs the question , if you are making lots of money trading VP then why the need to work?????? :?:
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timaru69 said:True you didn't however that is how your post comes across.
I also think the statement re "80% accuracy" needs to be clarified as this does not necessarily translate to 80% profitable trades,
I also think that you need a lot of money in your account to trade this successfully and still have good position and money management rules.
Congratulations on your job in the HF, but it begs the question , if you are making lots of money trading VP then why the need to work?????? :?:
There's a difference between trading at home with a few grand than trading within a multi-million pound company in the city,, Didnt take me long to make my mind up how about you??????
Directional
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well, I am rather surprised that you have found it to be profitable. If you read here, at these threads:
http://www.trade2win.com/boards/showthread.php?t=13697
http://www.trade2win.com/boards/showthread.php?t=8626
you will see that other traders have found VantagePoint / Tradertech to be nothing more than a scam - claiming ridiculous and unprovable accuracy rates. - they claim 80% accuracy for the "neural index" but that doesnt actually translate into anything useable for trading - they dont claim 80% accuracy for all trades.
http://www.trade2win.com/boards/showthread.php?t=13697
http://www.trade2win.com/boards/showthread.php?t=8626
you will see that other traders have found VantagePoint / Tradertech to be nothing more than a scam - claiming ridiculous and unprovable accuracy rates. - they claim 80% accuracy for the "neural index" but that doesnt actually translate into anything useable for trading - they dont claim 80% accuracy for all trades.
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Directional
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lol! I just happened to find a review of both software and Mendelsohn's book on amazon:
>>>
Well gullible me - I bought the book and the VantagePoint Software from Mendelsohn and his company Market Technolgy. I lost a lot of money using it trading futures. The predicted highs and lows were seldom even close - but rarely were surprisingly accurate (so is a broken clock - twice a day!). The Neural Index, which claims 70-82% accuracy, had less than 56% accuracy over several months in 2004. The predicted moving averages pictured in the book are deceptive - they are "displaced" back in time 2-4 days, giving the false visual indication that they are very accurate predictions. You do not learn this until the money is spent! Too bad! The "unique" predicted crossover signal is no more accurate than a 3 day exponential average crossover on a 4 or 5 day moving average. Although the technical support for installing the product was good, the instructional support from the company is no better than the vague information in the book. I would not waste the money buying the book or the time reading it. Why John Murphy would even write the Foreward puzzles me. I give him and his books a lot of credibility - His Intermarket Analysis is a great read and worthwhile information. I guess it must be some professional courtesy thing. The whole Neural Network prediction technique sounds fascinating - but it just uses multi-variate regression techniques to separately forecast the high, the low, 2 moving averages, and the Neural Index. These separate forecasts are then presented in a table and chart. The problem is, they usually contradict each other and confuse the trader - leading to losses. The author leads you to believe they are somehow magically intertwined through the use of some complex modern math and "neural" computer techniques. Folks, it is just the same old statistics you took in highschool (or college). There is nothing new or mystical about it - it just doesn't have much accuracy or add value to the trader. VERDICT: Skip it and be money ahead.
http://www.amazon.com/gp/product/1883272912/002-5219151-9972055?v=glance&n=283155
>>>
Well gullible me - I bought the book and the VantagePoint Software from Mendelsohn and his company Market Technolgy. I lost a lot of money using it trading futures. The predicted highs and lows were seldom even close - but rarely were surprisingly accurate (so is a broken clock - twice a day!). The Neural Index, which claims 70-82% accuracy, had less than 56% accuracy over several months in 2004. The predicted moving averages pictured in the book are deceptive - they are "displaced" back in time 2-4 days, giving the false visual indication that they are very accurate predictions. You do not learn this until the money is spent! Too bad! The "unique" predicted crossover signal is no more accurate than a 3 day exponential average crossover on a 4 or 5 day moving average. Although the technical support for installing the product was good, the instructional support from the company is no better than the vague information in the book. I would not waste the money buying the book or the time reading it. Why John Murphy would even write the Foreward puzzles me. I give him and his books a lot of credibility - His Intermarket Analysis is a great read and worthwhile information. I guess it must be some professional courtesy thing. The whole Neural Network prediction technique sounds fascinating - but it just uses multi-variate regression techniques to separately forecast the high, the low, 2 moving averages, and the Neural Index. These separate forecasts are then presented in a table and chart. The problem is, they usually contradict each other and confuse the trader - leading to losses. The author leads you to believe they are somehow magically intertwined through the use of some complex modern math and "neural" computer techniques. Folks, it is just the same old statistics you took in highschool (or college). There is nothing new or mystical about it - it just doesn't have much accuracy or add value to the trader. VERDICT: Skip it and be money ahead.
http://www.amazon.com/gp/product/1883272912/002-5219151-9972055?v=glance&n=283155
PenL said:
Wow , claws are flying here.
PENL, you haven't answered most of the questions asked in peoples posts so of course people will have a negative attitude, especially when your opening post looks like a marketing blurb. I have VP so am familar with their marketing techniques, in fact I think that your original post actually resembles one of their "user recommendations"
I'd be interested to know how you use VP to trade to compare against the way I was using it.
Given that you are trading with a multi million £ HF then what is your interest in posting on this forum? Not trying to be critical but just interested to know your motives?
Cheers
Whoops, looks like PENL's original post has gone.........................
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Directional
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PenL.
wouldnt you have been better posting in the For Sale / Classifieds section of this site, if you just want to sell it?
This would beg the question, if it works so well, why would you want to get rid of it?
if in reality, you like other traders have found VP to be worse than useless and you are in fact trying to cut your losses and recoup some of your outlay on this overpriced crock, might I suggest you try getting a refund from VP - at least one other trader managed to bully them into giving him his money back, so you might stand a better chance of recouping your entire original outlay rather than the measly few bucks you'll get from a private sale.
wouldnt you have been better posting in the For Sale / Classifieds section of this site, if you just want to sell it?
This would beg the question, if it works so well, why would you want to get rid of it?
if in reality, you like other traders have found VP to be worse than useless and you are in fact trying to cut your losses and recoup some of your outlay on this overpriced crock, might I suggest you try getting a refund from VP - at least one other trader managed to bully them into giving him his money back, so you might stand a better chance of recouping your entire original outlay rather than the measly few bucks you'll get from a private sale.
Arbitrageur said:PenL.
wouldnt you have been better posting in the For Sale / Classifieds section of this site, if you just want to sell it?
This would beg the question, if it works so well, why would you want to get rid of it?
if in reality, you like other traders have found VP to be worse than useless and you are in fact trying to cut your losses and recoup some of your outlay on this overpriced crock, might I suggest you try getting a refund from VP - at least one other trader managed to bully them into giving him his money back, so you might stand a better chance of recouping your entire original outlay rather than the measly few bucks you'll get from a private sale.
Arbitrageur
Its very good to hear from someone with a clear head, thanks for the advise i will add it there, but im happy two sell it for a couple of hundred £ as the software really did work well for me , and i were hoping it could do that for someone else at a very low cost however i did not exspect so much negativaity from other members.
Directional
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well, this site is all about sharing experiences, and the shared experience with VP so far has generally been overwhelmingly a bad experience for most who feel they have been duped into purchasing this software.
Your original post wasnt very clear that you were trying to sell your copy of the software, we dont take kindly to shills round here - and you gotta admit, your post did read like a bit of a VP / Tradertech advert, which would explain the rather enhanced negative reaction somewhat :cheesy:
Your original post wasnt very clear that you were trying to sell your copy of the software, we dont take kindly to shills round here - and you gotta admit, your post did read like a bit of a VP / Tradertech advert, which would explain the rather enhanced negative reaction somewhat :cheesy:
Directional
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