Ambrose Ackroyd
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Is that Britishbulls.com or Britishbullsh1t.com ?
I must advise cauition. Tracking signals is no way to understanding. Use their analysis to help you recognise the more useful candlestick patterns but move on quickly to a deeper empathy with price action.
You might also look at their FTSE100 comments today re their most recent FTSE signal, 10/06 -
'Our system posted a SELL-IF today. The previous BUY recommendation was made on 10.06.2010 (25) days ago, when the index value was 5,085.9. Since then UKX has fallen -5.16%.'
A Buy? On 10/06? And still in place!?!
You might also look at their FTSE100 comments today re their most recent FTSE signal, 10/06 -
'Our system posted a SELL-IF today. The previous BUY recommendation was made on 10.06.2010 (25) days ago, when the index value was 5,085.9. Since then UKX has fallen -5.16%.'
A Buy? On 10/06? And still in place!?!
lol, buying and holding would wipe out anyones leveraged account im sure.
Ye, I have used it generally to confirm my own opinion.. a second opinion if you will. I note they have the £100 makes ££££ over two years, I also noted this doesn't take into consideration the commission or stamp duties
Ye, I have used it generally to confirm my own opinion.. a second opinion if you will. I note they have the £100 makes ££££ over two years, I also noted this doesn't take into consideration the commission or stamp duties
All true': not bad for conformation of your TA but better not to follow their strategies. To check their on-going performance, I had a look over this site's signals for a period last year and found occasions when the entry levels they quoted were simply outside the index's range on the date given. Not a good start.
Various websites seem to suggest that BritishBulls.com is based in Istanbul, Turkey. This puts it way beyond the reach of the FSA and any complaint, litigation etc. that an aggrieved UK-based user might be inclined towards. This alone might suggest the need for caution.
Various websites seem to suggest that BritishBulls.com is based in Istanbul, Turkey. This puts it way beyond the reach of the FSA and any complaint, litigation etc. that an aggrieved UK-based user might be inclined towards. This alone might suggest the need for caution.
Hi there - I came across this thread googling for anyone with an opinion on this website.
I've recently subscribed to this site after following it as a non-subscriber and being fairly impressed with what I saw.
As far as I can see, the site is entirely driven by computer rather than having any human involvement in their buy/sell recommendations. This means that it doesn't research like we do, or follow the news, or read accounts. This makes it bad for shares like BP, Connaught or oily shares that have forecasts for oil discovery (or not!), so you must absolutely not follow this site for your sole source of advice.
On the share trading success from £100 to... it's true that it doesn't include the buy and sell fees, or the stamp duty commission. Do what I did, copy the whole pane into excel and work this out for yourself. It seems to stack up even if you take into account the fees but I don't think it's viable for initial punts of £100 otherwise the fees at that level would wipe you out. I'd say a better starting point was £1k.
I think the biggest issue with the site is the price they suggest to buy and sell at. Try following the site instructions (having done your own research beforehand) and see if you can buy/sell at what they say - its very hard to do so..
Also they seem to do this site for lots of other countries and stock exchanges, reinforcing what I said re this being just a computer. Use it as an opinion and do your own research just as Tomorton says.
If you want to know how i've got on so far? I've pretty much only used it to reinforce my own research and done great on buying and selling two shares, so made my money back no problem. There is one share that I have been holding through a huge rise (and huge fall) for over 2 years and am now in the position where I am back to my original investment amount. I really should have followed the BB advice on recent buys and sells as I would have done quite well. Hindsight is a wonderful thing.
Sorry for the long post, but hope this is useful.
🙂 I'm hoping so!
Actually, i'm hoping for someone who has more idea of the pitfalls other that what i've said.
A flaw with many simplistic signals services / TA systems / investment magazines is that they tell you when to go long and occasionally when to short, but often they forget to say what to do if the price goes for you or, even worse, against you.
e.g. BritishBulls gave a Buy signal on 10/06 at 5085. The next signal was Sell at 5034 on 15/07. In the meantime, the long position had gained 244pts, then lost 539pts, then gained 495pts. What was the long position holder from 5085 supposed to do with this roller-coaster over the next 5 weeks?
e.g. BritishBulls gave a Buy signal on 10/06 at 5085. The next signal was Sell at 5034 on 15/07. In the meantime, the long position had gained 244pts, then lost 539pts, then gained 495pts. What was the long position holder from 5085 supposed to do with this roller-coaster over the next 5 weeks?
What was causing the fluctuations?
Sounds like what was happening on BP. when they were having problems capping the leak, the ceo testified etc. etc. I've looked at the history on the website and while i'm impressed the instruction was to sell up at 505 on 24/4 and not get back in until 312 on the 16/7 (I bought at 367 and 300) i'm less impressed with the sell at 407 on 16/7.
The question should be addressed by traders who might be tempted to just copy BB.com's signals and go long or short when they say so. They might well be in profit overall, but in the meantime there have been immense swings from greater even profit levels to horrible draw-downs. This violates lots of hard-learned rules for traders. I still think their signals are interesting and I do glance at them, though they are too narrowly based on one / two / three candlestick patterns alone and ignore other price action and indicator features. Interesting, but not to be copied.
I agree that most probably all signals are purely computer generated and are based only on stock price movements. They ignore volume. I use their AUTRALIAN version (AB).
:!: CAUTION re BUY-SELL performance that they quote : they use a very nasty trick while listing in their stocks' HISTORY both DATE and PRICE of the recommended BUY and SELL : they actually quote their latest BUY IF and SELL IF recommendations data which of course is NOT possible ever in real life, because trader will HAVE to wait for CONFIRMATION. Here is an example of BUY (all use day closing prices):
02 May 2011: new recom BUY-IF, stock closed at $ 3.34
03 May 2011: confirmed BUY, stock closed at $ 3.60. But AB added to their performance / history list '02May @ $3.34 !)
11 May 2011: new recom SELL-IF, stock closed at $ 3.76
12 May 2011: confirmed recom SELL, stock closed at $ 3.52. But AB added to their performance / history list '11May @ $3.76 !)
So BB recorded the following profit : $ 3.76 - $ 3.34 = $0.42 i.e. 12.6%
So REAL profit was (when signals were CONFIRMED) : $ 3.60 - $ 3.52 = $0.08 i.e. 2.4% i.e. approx 5 times SMALLER !
Such a tactic boosts their profits UNBELIEVABLY (and cuts their potential losses). This is why their performance record seems to be so good. And if you add the compound effect of all those BUY / SELL signals then no wonder you get returns of hundreds of % over 2 years time !
👎 Note also that if the BUY confirmation does NOT happen then the signal is NOT added to the history list at all. Same with the SELL side. This filters out all missed signals. Very dirty way of promoting their performance.
:clover: I do not have time to actually monitor a particular stock for several months but I hope that to readers my point will be obvious.
:!: CAUTION re BUY-SELL performance that they quote : they use a very nasty trick while listing in their stocks' HISTORY both DATE and PRICE of the recommended BUY and SELL : they actually quote their latest BUY IF and SELL IF recommendations data which of course is NOT possible ever in real life, because trader will HAVE to wait for CONFIRMATION. Here is an example of BUY (all use day closing prices):
02 May 2011: new recom BUY-IF, stock closed at $ 3.34
03 May 2011: confirmed BUY, stock closed at $ 3.60. But AB added to their performance / history list '02May @ $3.34 !)
11 May 2011: new recom SELL-IF, stock closed at $ 3.76
12 May 2011: confirmed recom SELL, stock closed at $ 3.52. But AB added to their performance / history list '11May @ $3.76 !)
So BB recorded the following profit : $ 3.76 - $ 3.34 = $0.42 i.e. 12.6%
So REAL profit was (when signals were CONFIRMED) : $ 3.60 - $ 3.52 = $0.08 i.e. 2.4% i.e. approx 5 times SMALLER !
Such a tactic boosts their profits UNBELIEVABLY (and cuts their potential losses). This is why their performance record seems to be so good. And if you add the compound effect of all those BUY / SELL signals then no wonder you get returns of hundreds of % over 2 years time !
👎 Note also that if the BUY confirmation does NOT happen then the signal is NOT added to the history list at all. Same with the SELL side. This filters out all missed signals. Very dirty way of promoting their performance.
:clover: I do not have time to actually monitor a particular stock for several months but I hope that to readers my point will be obvious.
For sure. I'm not sure about them not tracking volumes, but I would not be surprised if they didn't.
The "buy-if" is really annoying. As you said, it's just as though they should say "I think you should buy this stock today, but i'm awaiting confirmation", then the stock rises 5% throughout the day, and they say at the end of play "yes, confirmed", then show the stock price at the start of the day as being the price they bought at.
The only thing I can suggest to anyone who has not already tried this, to create a dummy portfolio and try to buy say £10k of pretend stocks but using the real-world prices based on the recommendation you get from bulls, do dummy buys and factor in your trade costs then see where it gets you. One in five will come good, but you probably would get that by putting names in a hat too.
ECG: I agree - it is annoying because it never gives you the REAL TRUE picture of their portfolio value and performance. In other words - the whole history is useless - pitty they do this that way , or may be : this is EXACTLY why they run that this way so that they can lure people to their subscriptions.
But your idea of trial portfolio is worth trying - will cost me some time but better time than money, uh ...
But your idea of trial portfolio is worth trying - will cost me some time but better time than money, uh ...
A little time, yes, but I think it will prove your point handsomely and cost you no money. My £5k gbp started out as a £4.5k loss due to spread and fees, it's around £4.1k, so a loss of £900. I'm glad i'm not using real money! 🙂
for shorter term trades I avoid stocks that have b-s spread greater than 0.2%. This way spread effectively does not matter for me. I pay a flat fee of $20 per trade so if trade is worth say $10k then fee+spread cost are in 0.4% range which is not too bad. With high vol stocks the spread gets so small that I do not even bother because brokerage is then many times bigger than spread cost
As a rookie, I was v keen on BB's as a shortcut to instant riches (cummon we all dreamt in the early days). But as there is no forum and precious little explanation, I was left feeling exasperated. Ive come to the conclusion that BB's simply serves to show you the trades you missed, which is pretty dispiriting. Im content with the £100 start demo... as an indicator, its just as valid as a £10,000 indicator and saves printing a lot of irrelevant noughts. Equally, it would be silly to adjust for spread, dealing charges, tax etc. when there is no global standard (if you can't size your trade to cover your costs, you should invest in a bank savings account instead of the market). Still it quickly becomes obvious that unless you expect the stock to jump 100%+, you have to be trading £ks not £100's to cover your costs. The BIG prob is that like most (all?) reco sites, it fibs. The 'bought/sold' prices they print are retrospective....the market has inevitably moved before its on screen. So unless you happen to be lucky enough to buy in a later mini dip, you cannot match their results. That is, except by understanding how to interpret candles and watching the stock as closely as they do. If you can do that you dont need BB's. Its much the same for all reco sites...they quote the low retro buy in price against the market high to show how well their syst works. But who ever times it so perfectly that you buy before the reco and hit dead on the highest.....Warren Buffet maybe but not me.
If there was some way to auto feed their signals to my broker, and/or they quoted a buy/sell UP TO range, BB's would be 5*. As it is, its a useful comparison tool for your own analysis, nothing else.
Alan
If there was some way to auto feed their signals to my broker, and/or they quoted a buy/sell UP TO range, BB's would be 5*. As it is, its a useful comparison tool for your own analysis, nothing else.
Alan
