fhb22266 said:
He claims that you can start trading Forex with an account of $300...something smells bad here; I'd like to know about his money management techiques.
On the other hand, Dirk du Toit claims on his "Bird Watching in Lion Country" that you need a minimum of...$10,000! He also recommends that you do not open more than 4 or 5 positions (on the same instrument).
Now that makes sense to me!
Eduardo. :|
Whitenights
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Good product
Especially the EOD technique.
After downloading the ebook (that is literally well written) I simulate a real trade of it on my cmsfx demo platform and it was a winning trade of 100 pips (I also backtested the past).
Now I decided to switch to a real account and fund it with about 2000 EUR to start and applying
the money management suggested by Avi.
I bought tons of books on trading (many rubbish), but this is probably the first one that will really work (and has a mechanical approach to your trading day that Is fundamental for long term survival.
It doesn't use any indicator.
Give it a try, It's well worth.
Bye Corrado.
Yes, I bought it and (for me) it's really an excellent product.rusty said:
Especially the EOD technique.
After downloading the ebook (that is literally well written) I simulate a real trade of it on my cmsfx demo platform and it was a winning trade of 100 pips (I also backtested the past).
Now I decided to switch to a real account and fund it with about 2000 EUR to start and applying
the money management suggested by Avi.
I bought tons of books on trading (many rubbish), but this is probably the first one that will really work (and has a mechanical approach to your trading day that Is fundamental for long term survival.
It doesn't use any indicator.
Give it a try, It's well worth.
Bye Corrado.
I agree with Whitenights comments. I've been just using the Cash Cow strategy described there only so far and it has been profitable for me. He shows you another 2 intraday methods if that's your thing and they will give you generally more opportunities per month to trade.
Whitenights
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I don't know if the preceding post has been done by someone involved commercially by advertisingDekoob said:
forex trading machine.
What I mean is that however I think it's a real good product.
I described my impressions because of helping persons who want to trade forex and doesn' find
a strategy profitable. I really spent many dollars using my credit card to buy e-books on stocks, options, futures.
For example I spoke about 60 minute trader of chris kobewka giving a negative opinion (on trading futures).
I'm not payed by anyone and I'm simply giving help to other traders that are sincerely reading and writing on this forum.
I'm saying the truth and so my opinion on forex trading machine is sincere and honest
Bye Corrado.
Corrado, like you I have spent my share of £'s in books, e-books, lectures, and trading losses.Whitenights said:
I am therefore a bit wary of parting company with the $100 or so asked by the author; you claim that the system is profitable.
Could you be more specific? Have you back-tested it, and if so, what expectancy does the system offers, along with winners/losers ratio in terms of trades and $'s, and what risk/return ratios can you expect?
Corrado, I am not trying to catch you at anything - I am genuinely interested in "Forex Trading Machine" and would like some feedback from someone who already has purchased it, that's all.
Cheers. Eduardo
Whitenights
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ZEPPO said:Corrado, like you I have spent my share of £'s in books, e-books, lectures, and trading losses.
I am therefore a bit wary of parting company with the $100 or so asked by the author; you claim that the system is profitable.
Could you be more specific? Have you back-tested it, and if so, what expectancy does the system offers, along with winners/losers ratio in terms of trades and $'s, and what risk/return ratios can you expect?
Corrado, I am not trying to catch you at anything - I am genuinely interested in "Forex Trading Machine" and would like some feedback from someone who already has purchased it, that's all.
Cheers. Eduardo
Eduardo, I backtested the strategy (the EOD strategy) only visually, I placed only one "really" trade ond my demo account following Avi rules and it was a winning trade of 100 pips. Recently the system signaled the condition to open a new trade, but (always following the trading rules) the entry wasn't triggered (and so I avoided a loss).
I'm not able to program the software for backtesting the strategy (I use the visual trader trading software of Cmsfx) and so I made it only visually, because of the strategy is so simple that you can immediately see if could have been done an entry, if the profit target could have been reached or if the stop loss was triggered.
The strategy (EOD) triggers about 4 to seven signals at month and so it's really simple to visually inspect two or five years of data. (It works best on a particular pair and so your backtesting is limited to this pair).
With the simple visual inspection It's winning about 70% of times.
There is also a streack of really trades made by the 1st january 2006 on the appendix of the e-book that could be simply verified for real and is really profitable (always 70% winning trades).
Probably with some knowledges of programming visual trader could be really simple to backtest the strategy and have the data you request.
I could only say that the risk return ratio is about 2:1. (this is really positive because of with a good money management like the one suggested by Avi in the long run you could achieve marvellous objectives).
But for me isn't necessary.
It's the nature of the system that for me is winning.
It doesn't use any indicator (I use one only to better see if the conditions are triggered) and It's really mechanical and first of all is simple.
I know that the data that you request are really fundamental (and it's correct that you ask these questions because of they're the base of long term survival), but I purchased the system only two weeks ago (when the advertising exited) and so mine real experience is very limited.
Surely if I would have been able to program visual trader I would have extracted the information that you request for myself and then I surely shared them with you.
It's difficult to explain, but thrust me I have a great experience of trading many types of products
(I'm still trading US options and Single stock futures using a trading system that I myself created - that is the better thing to do because you'll thrust in it) but I never ever found a system so mechanical and functional.
It would be beautiful if this system could be applied also to stocks and futures.
But It specifically works on Forex (especially a particular and well known pair).
However, when I'll found the time, I'll comunicate to you the exact percentages of the streak of trades
placed since january the first and that are in the appendix of the book (I have to extract them from the book).
For now bye and stay tuned, Corrado.
Thank you for your prompt reply, Corrado; I use Metastock EOD so I should have no problem programming the strategy in my own software, as long as it is not judgement based,ie. it can be programmed for mechanical trading.Whitenights said:
The fact that it is a daily chart-based strategy suits me fine, so I'll have a go at purchasing the e-book.
Thanks again corrado.
Good trading.
Eduardo.
Avi Frister can't be contacted by email !!
Eduardo
Please keep us updated on the performance of this method, I would be surprised if it isn't a pivot based method.
By the way, I have tried to contact Avi Frister to seek further verification of the referals and an introduction to some of his satisfied customers. Up to date this information is not available.
Is Avi Frister just another con man?
Good luck.
Dekoob.
ZEPPO said:
Eduardo
Please keep us updated on the performance of this method, I would be surprised if it isn't a pivot based method.
By the way, I have tried to contact Avi Frister to seek further verification of the referals and an introduction to some of his satisfied customers. Up to date this information is not available.
Is Avi Frister just another con man?
Good luck.
Dekoob.
"Please keep us updated on the performance of this method" - I fully intend to; at this very moment I am printing the e-book - I prefer reading from paper rather than the screen.Dekoob said:
"Is Avi Frister just another con man?" - I know, there are a few of them around, aren't they? I'll read the book and try to back test the stategies, then I'll give you all my appraisal.
Eduardo.
Whitenights
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ZEPPO said:
Eduardo as I promised here you are the statistics for EOD strategy (Cash cow):
trading period: 04/01/2006-04/08/2006
N° of trades 25
Winning trades 17
Losing trades 8
W/L = 68%
Points gained: 1612
Points lost: 480
I would be glad to share with you your experiences with this strategy.
Bye Corrado.
Whitenights
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Dekoob said:
Dear Dekoob, you're right that Avi (till now) doesn't answer to direct e-mails.
I tried to contact him on the mail indicated on his site but till now no response.
However I have to say that after my purchase, He sent to all his purchasers a bonus strategy
(that is also very interesting and valid) to trade forex in certain situations and he promised that
in the futures he will release other material.
Until now the support is completely absent (or so seems), but the products given are good.
Bye Corrado.
Thank you, Corrado, for those statistics, which I have to say, are very attractive ones. I have just finished reading the manual and like what it says in it; if Avi is a con man, he is a refined one indeed! I agree with most of what is in the manual, although I find his money management somewhat simplistic.Whitenights said:
Then again,I have read Ryan Jones and Michael Harris books.
I am going to try coding the Cash Cow formula in Metastock, and backtest on a somewhat longer period of time; I'll keep you posted.
Before I forget, the system is not based on pivots points, but something still simpler than that.
I am sorry I cannot elaborate on this but I am constrained by the author's copyright, I hope that you'll understand.
Eduardo.
Ooops! Sorry Guys!
I'd like to apologize - my MS EOD is not suitable to backtest the strategy because intraday data is needed, due to the nature of the stop losses and entry orders, which are on limit orders both.
MS gives me stop losses hit according to EOD data, while a deeper inspection on intraday data tells me that the entry order was not yet activated at the time the price was on the stop loss level; also, the stop loss itself was never hit after entry.
It seems I am going to have to paper trade it for a while, so bear with me , please.
Sorry about that!
Eduardo.
I'd like to apologize - my MS EOD is not suitable to backtest the strategy because intraday data is needed, due to the nature of the stop losses and entry orders, which are on limit orders both.MS gives me stop losses hit according to EOD data, while a deeper inspection on intraday data tells me that the entry order was not yet activated at the time the price was on the stop loss level; also, the stop loss itself was never hit after entry.
It seems I am going to have to paper trade it for a while, so bear with me , please.
Sorry about that!
Eduardo.
Thanx for the input.
Eduardo,
I will more likely as not try out the methods, my only concern is in relation to refunds. If it is impossible to contact Mr Frister, then how do you get a refund if the method is proved to be useless.
Thanx to both Whitenights & Zeppo.
Dekoob.
ZEPPO said:
MS gives me stop losses hit according to EOD data, while a deeper inspection on intraday data tells me that the entry order was not yet activated at the time the price was on the stop loss level; also, the stop loss itself was never hit after entry.
It seems I am going to have to paper trade it for a while, so bear with me , please.
Sorry about that!
Eduardo.
Eduardo,
I will more likely as not try out the methods, my only concern is in relation to refunds. If it is impossible to contact Mr Frister, then how do you get a refund if the method is proved to be useless.
Thanx to both Whitenights & Zeppo.
Dekoob.
Don't give up!
I decided on applying his principles; here is what MS gave me:
Over a period of 9 years,covering 2034 Daily Bars, the analysis gave 25444 pips of profit over 597 trades;462 were winners, 135 losers, a trade efficiency of 56.74% for entries and 70.75% for exits! I tested both short and long trades as a system.
Dirk du Toit's methods are notable for wide stop losses, like some of Michael Harris techniques, in respect to the profit target.
In the case of Forex Trading Machine, the risk/reward ratio as backtested by myself stands 3:1, that is, the stop loss is three times further away that the profit target.
On this basis I believe that the system is profitable at the present time.
I will still paper trade as per the e-book for a period of time; if all goes well, I may start trading it on real money after New Year.
It is a shame I cannot further elaborate on the technique, but as stated before, I am constrained by the author's copyright.
Eduardo
Oi! Don't give up so easily yet! Not on me! I mentioned earlier tha I have read Ryan Jones and Michael Harris; I didn't mention Dirk du Toit, who I also read as part of my favourite literature.Dekoob said:
I decided on applying his principles; here is what MS gave me:
Over a period of 9 years,covering 2034 Daily Bars, the analysis gave 25444 pips of profit over 597 trades;462 were winners, 135 losers, a trade efficiency of 56.74% for entries and 70.75% for exits! I tested both short and long trades as a system.
Dirk du Toit's methods are notable for wide stop losses, like some of Michael Harris techniques, in respect to the profit target.
In the case of Forex Trading Machine, the risk/reward ratio as backtested by myself stands 3:1, that is, the stop loss is three times further away that the profit target.
On this basis I believe that the system is profitable at the present time.
I will still paper trade as per the e-book for a period of time; if all goes well, I may start trading it on real money after New Year.
It is a shame I cannot further elaborate on the technique, but as stated before, I am constrained by the author's copyright.
Eduardo
Dirk du Toit's Method
Eduardo,
I too read "Bird Watching In Lion Country" I felt unhappy about the use of large stops. However, when you look at the way the market works his method has some merit. The market is just a machine that processes orders, all the orders in the book are logged as numeric values,so in a market that isn't trending the orders closest too and on both sides of the market price will be filled first so you have a greater chance of your stop being hit before your take profit if the stop is a smaller pip value than your take profit.
Thats enough of that, I think your observations relating to "Forex Trading Machine" would lead me to believe that there could be some value in Mr Frister's work.
Dekoob.
ZEPPO said:Oi! Don't give up so easily yet! Not on me! I mentioned earlier tha I have read Ryan Jones and Michael Harris; I didn't mention Dirk du Toit, who I also read as part of my favourite literature.
I decided on applying his principles; here is what MS gave me:
Over a period of 9 years,covering 2034 Daily Bars, the analysis gave 25444 pips of profit over 597 trades;462 were winners, 135 losers, a trade efficiency of 56.74% for entries and 70.75% for exits! I tested both short and long trades as a system.
Dirk du Toit's methods are notable for wide stop losses, like some of Michael Harris techniques, in respect to the profit target.
In the case of Forex Trading Machine, the risk/reward ratio as backtested by myself stands 3:1, that is, the stop loss is three times further away that the profit target.
On this basis I believe that the system is profitable at the present time.
I will still paper trade as per the e-book for a period of time; if all goes well, I may start trading it on real money after New Year.
It is a shame I cannot further elaborate on the technique, but as stated before, I am constrained by the author's copyright.
Eduardo
Eduardo,
I too read "Bird Watching In Lion Country" I felt unhappy about the use of large stops. However, when you look at the way the market works his method has some merit. The market is just a machine that processes orders, all the orders in the book are logged as numeric values,so in a market that isn't trending the orders closest too and on both sides of the market price will be filled first so you have a greater chance of your stop being hit before your take profit if the stop is a smaller pip value than your take profit.
Thats enough of that, I think your observations relating to "Forex Trading Machine" would lead me to believe that there could be some value in Mr Frister's work.
Dekoob.
