Champion Trader

numspar

Member
53 1
The original CT formula is not something new. It seems Mr Lakhi has taken the idea from Linda Bradford Rachke's 'Holy Grail' technique and adjusted it somewhat to create his CT formula. The Grail technique is freely available on the link below.
CT users is this similar to what you received from tradingtrix?

http://www.hardrightedge.com/wizard/tl2.htm

I was told this by someone who actually bought the CT manual
if I am wrong please correct me!
 
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Pavka

Newbie
3 0
Hi folks,

I want to add my observations about CT here.
I agree with what mmiller is saying: use the CT on the S&P and DAX. I am planning to use it on the Dow Jones and DAX.
I have looked at the charts for the FTSE100, and I don't like the FTSE100 too much. The waves just don't seem too rhythmic and symmetrical.
I notice that some of you are complaining about a recent whipsawing in the FTSE. For comparison, there has been no such whipsawing in the Dow Jones.
Also, I'm planning to use the formula on a Hong Kong index called Hang Seng. Have you heard of it? It seems well-behaved to me, i.e. its behaviour is predictable.
The success of the formula depends very much on what instrument you are using it. For example, the Nasdaq100 index is considered more volatile and risky than the Dow. Which means, forget about the NDX, and trade the DJI. I back tested the Dow for a while, and it seems to work well with the CT. I don't know why Shiraz recommends the FTSE100. I think that the Footsie is not a well-behaved index. The Dow Jones, S&P500, DAX and Hang Seng seem more likely ot generate consistent profits. This is because they are rhythmic and move between parallel lines.

I notice that some of you are mentioning that the CT formula uses SMA. But the version of the CT manual which I have, uses
EMA. Did Shiraz again change the formula?!

Pavka
 

Pavka

Newbie
3 0
To Floor Trader:

Hello Floor Trader,

This is Pavka writing to you from Bulgaria.
I am wondering if you are the same person as wappers and rockall14. I have been following posts on various bords, and your style looks a lot like the style of wappers and rockall14.
About CT: I think it works well with the Dow Jones index. Have you tried it on the Dow? The Dow has small oscillations between parallel lines, and that would explain why the CT exit strategy is what it is.
Can you recommend any good trading book that has helped you become as good as you are?

Regards,
Pavka
 

JonnyT

Senior member
2,560 22
Pavka,

Have fun and let us know when you have lost your capital...

There is no such thing as an index that moves in parallel lines. The Dow might be trending now but could easily go in a tight consolidation range and thus whipsaw this method to death

I have bachtested this method on FTSE, DOW and the like and decided it was not tradeable to my satisfaction given the huge and I mean huge drawdowns. My version suggests you risk 10% of capital per trade!!!

JonnyT
 

MTAYLOR2

Newbie
8 0
When the price of your chosen stock hits the USL say.
You are supposed to buy at that price, or as near as possible to it.

When using spread betting firms, do you enter when the 'bid' price is correct or when the 'offer' price is correct

Regards

Mark
 

MTAYLOR2

Newbie
8 0
When you have identified an 'USL' or 'DSL' do you enter that trade
when the 'Bid' or the 'Offer' reaches the exact price?

Whats the verdict.

Mark
 

One Eyed Shark

Well-known member
257 13
MT

I have read CT though never used it to trade.

To trigger an entry it is the actual index price that you would use to trigger your USL/DSL not a price provided by a spread bet company.

Therefore if you are using the index there is no Bid/Offer spread to take into account.

Hope this helps.
 

Joe Bristor

Junior member
10 0
Apparently Champion Trading system blew everyone out?
Has anyone ever made money with this system?
Has anyone ever done the historical testing?

Has anyone asked for their moneyback? It's guaranteed you know. I've been a trader for over 20 years. The ad on MSN was so compelling. But as soon I saw the logic, I was shocked.

I'D BEEN TAKEN.

I immediately asked for my money back. I asked for a track record in case I may had misread the logic. I hadn't.
It's been about 2 months now and I haven't heard a word from this guy.

I think he's a con.

If he's not. let him come forth with some long term historical test results. Until then, please everyone who reads this:

BOX IT UP AND SEND IT BACK FOR A FULL REFUND.

There is no limit to the refund, just that you document your trades and don't damage his bogus book. It's pretty hard to find winners. It's an outright losing system.

I hate it when guys like this can get away with conning real traders or those whp wwnt to be. It's criminal.

It would do my heart good if I heard from all of you who bought this crap.

Apparently, the system has been out for 2-3 years? Let me hear from one person with a profitable track record.

UNTIL THEN - SEND IT BACK.

And if we don't all get a complete refund, I'll personal take him down. The FTC and FCC love to get ahold of cons.

Joe Bristor

Update, 3-31-04:
I told Champion Trader to either show me performance or refund my money. He stalled; never even responded until he saw these and other posts (thank you moderator for allowing the truth to be told).

He just refunded my money, no questiuons asked. I didnt have to show him trades or even send his phony book back. Instant refund when he realized he was about to be exposed for ripping people off. It wasn't even 90 days yet. Surely, it was to shut me up. No Way.

There's no reason anyone should support this guy. Ask for your money back. One day, 90 days or a million days. It doesnt matter. CT is bogus. And the point is, HE KNOWS IT. He's hoping there's enough morons who will believe his slick promotion (like I did) so he'll never have to work again. Support him or shut him down. Which will it be?

If one more person comes here complaining about CT, it will be your fault because you let it happen.

If you let this guy persist, you're losing alot more than 169 bucks.

Remember, successful trading requires liquidity. New, novice traders ensure a pro trader's success. Some newbies will persist and become succesful themselves. Until then we profit from their mistakes. It's a long learning curve. But we need them in the game. If they waste time & money on systems & vendors like CT it just makes them quit.

Everyone who bought this garbage should do what I did. Say, post actual performance right next to your glorious claims. Then anybody who buys it, really is a moron.

Until then, he's just preventing you from a decent fill on your next trade.


Joe Bristor
 
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Rainmaker

Active member
201 3
I have backtested on ftse 350 stocks and indices. profits are small and drawdowns are HUGE. not my kind of system!
 

Dow Dog

Well-known member
409 0
CT is a bad system. I bought it, tried it and ran away from it.

Better to develop your own way of trading with help from the contributions on this site.

I am currently doing this and would like to think that one, day, in the not too distant future, I can help other people as much as I have been helped by some of the great contributions to T2W.

I would say though, that developing your own system takes time, a lot of effort, a lot of pain, loads of U-turns and starting from a clean piece of paper on countless occasions. I have been doing this for 8 months now and I am happy that I have almost got to the point where I will be able to take consistent daily profits out of the market.

I nearly gave up a couple of times but I am happy to be at where I am at right now and I look at my bookshelf, see the Champion Trader book and smile.
 

Jetheat

Active member
174 0
Hello, I've been reading most of the previous posts.
I've just been pitched by Shiraz Lakhi's Website and was on the verge of ordering it when I decided to investigate further on the web.

It seems the general consensus is that the CT formula is good for beginners to develop a foundation but it can be risky in volatile, choppy markets. But to me, it seems like the formula is not worth £100 which SL is charging.

To this end, I'd like to buy a copy of The Champion Trader from anybody who is willing to sell it on for a low low price. Alternatively, if you have the ebook, I'd like to buy that even cheaper.

Thanks
Jetheat
 

Dow Dog

Well-known member
409 0
I read the CT book, had some questions so I flashed off an email to the author with a few queries.

Absolutely no response whatsoever !!

How to win friends and influence people huh ?

The CT book is junk - don't waste your time with it.
 

Joe Bristor

Junior member
10 0
Let's all send CT back and ask for our money back. I am.

Get enough people who've been refused reimbursement and he'll be shut down.

That's what you do with guys like him.

Any other forums anybody knows of like this where we get to speak the truth?
 
 
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