Champion Trader

Hi Joe, many thanks for e-mailing me back. As per your advice I have now taken step 2 and sent Shiraz an e-mail asking for long term performance to back up his theory in the book. I have asked him to make it available to me and suggested that maybe he may like to post on this board so that others may see it.

I will let you know and this baord how I get on.


I advise anyone else who has been scammed by Mr Lakhi to e-mail Joe and ask for his advice on how to get your money back from this scamster
 
Maybe we don't want to shut him down?

Maybe we just want to get our money back?

I did. No problem. No track record. Never even sent book back.

Don't listen to quitters who say it's futile to stand up to this fraud.

You will get your money back if you know the steps to take.

Contact me for help.

Joe.
 
He's a fraud for intentionally deceiving people.

His logic is a joke. Anybody with minimal experience could confirm it.

If I'm wrong, why doesnt he come forth and post the performance for all to see?
 
How do I know he's a fraud?
Did you back test the system and paper trade it?


Yes. That and a hundred other similar logics; just like any
other trader looking for profitable mechanical signals.

What are you telling me? That you think it is profitable?
Then let's see your performance?

Joe
 
Champion Trader CTA ebook

I have bought the CT formula ebook (2003 version) and found it to be based on valid concepts. It stresses the importance of trading with the trend, confirming momentum before starting a trade, setting a stop loss if the move fails, trading liquid stocks etc. The book also have a lot of useful information on the stock market and trading in general.

The system is a very simplistic technical system based on concepts already freely available on the net (no, its NOT the same system as tradestars.com), but never or less its a quite good introduction for someone new to the stock market. It lacks a good strategy for taking profit. Apart from that it is a good starting point for learning how to trade.

I also ordered the CTA ebook (day trading system) from the same company, but never received my copy. All emails to Champion Trader Limited and Shiraz A Lakhi has been returned as undeliverable (mailbox full). That was USD 243.66 down the drain :(
 
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Does pkfryer care to respond? Let's see how much money he's made with CT?

And what is Ronnyskog's point? That he' happy with giving away good money to con men?
Or was he asking for help getting back his money?

for all wanna be traders: Accept that your competition is people who will take your money without remorse. Who don't have the brains or the balls to beat you in the market so they have to steal your money.

Anyone who thinks their money "went down the drain" is a loser and shouldn't be trading.

Anybody who refuses to be defrauded and who is willing to fight for a fill or fight to shut down fraud is a winner. You will make all the money you want and need.

Once you know who your competition is, you can beat him. In trading and in life.

Based on all the posts referring to how they arent going after Shirz, it's obvious there's a lot of losers out there.

It doesnt matter how long it's been, get your money back.

It may give you the confidence to compete in the markets.

Joe
 
Update: I finally received an email from Campion Trader with download instructions for the CTA ebook (one full week after ordering it). I have not yet tested his CTA system yet, but it is based on the commonly known method of trading with the trend and entering after a minor retracement. Somewhat similar to the system at tradestars.com, only adjusted towards day trading/scalping.

I have very little experience with day trading (I’m a swing trader) so I cant really judge if his CTA system is worth what I paid for it. I’m a little concerned about his stop-loss though (1:1 risk/reward ratio). I will paper trade the system for a while, then we will see if it is profitable or not.
 
If Champion Trader is such a dead-beat product, some even using the word "fraud", then why are T2W allowing it to be advertised as a random-advert at the tops of discussion pages ??
 
Does pkfryer care to respond? Let's see how much money he's made with CT?

Joe, dont get angry. I was just asking a valid question. I have looked at many many systems and techniques and have been open minded. I must admit that he does make it sound a bit too easy though.

I have not thoroughly back tested the system as I went on to other things and didn't have the time to set up a test but I am planning on getting around to it.

Its actually not as bad as everyone makes it out to be, its just very simplistic and the stop loss logic is a bit questionable on very high ranged days (which it doesn't take account of) also it doesn't help the trader know when to exit a trade which is very important. Also, with CTA (day trader methodology) the risk reward factor is questionable: going for 1:1 trades... doesn't sound too good!

The basis of the method reminds me of some of the prestine methodologies, they dont look at indicators but candlestick patterns and they also work with the trend only using moving averages. The CT technique actually has some sound ideas:
1. never trade against the overall trend.. always with it!
2. Wait for a retracement
3. Wait for a confirmation of the trend continuing by looking at a candle pattern AND for the EMA line to tick up
4. USE stop losses and money management!
5. Use orders to get into a trade, your in only in if price confirms the price patterns.
5. If the set up isnt 100% walk away from the set up and go for something else

It also has some sound advice about the market and about surviving rather than being greedy or trading for thrill!

The CTA method is similar and actually has some reasonable concepts too:
1. Always trade with the trend of the next time frame up (a multi-frame approach advocated by many)
2. Wait for a minor resistance line to be established against the overiding trend
3. Set up an order to sell below the minor support (against the trend) or buy above minor resistance.
Both highly accepted tactics.
4. Set up a stop loss.
5. Walk away the moment it starts to look anything less than perfecct.

Its actually not a bad concept. If the trend is going up and its good strong trend, that upward movement has to come from somewhere. It comes from the time frame BELOW. Therefore it pays to to bet on the side of the trend 1 time frame below. Most times it will work but when it doesn't you have stop losses.

These are reasonable no indicator techniques, the main criticism is he doesn't outline the risks and makes it sound too easy. The price of the courses are way way way too expensive!! That is the reason I turn negative in my attitude. There are books for 30 quid that contain about a thousand times more information and ideas in it! There is no rule for helping you decide when to take your profit which is actually the MOST important technique. Its easy to enter a profitable trade (with practice), but with these short term moves that last only days before the profit disappears... when do you get out.

I think with some variations and adaptations it could be the basis to take things further with your own approach.

I'm not an advocate just saying that the concepts aren't that bad, but the price makes it a conn, but then again its the way these trading things work.... you are meant to be buying something that will make you thousands, so whats a few hundred quid! I've found that with many things in the trading world... software, data feeds and courses: Its SO expensive, EVERYTHING trading related.. so this is no different in that respect. For instance, I have spent hundreds of pounds on metastock plugins that are very simplistic and basic things... hardly would have taken much time to develop, but they charge you such large amounts of money because of the possibility that these add ons will make you a lot of money if used properly.

How much would someone sell you the genuine "horn of plenty" for, if it existed? How much is something that builds wealth going to cost? Thats the philosophy they use when peddling the merchandise... and if it genuinely helps you make money can we blame them. Its a conn if they sell you a plastic replica, but not a conn if it works.

I'll lay down the gauntlett! I've got a few system testing tools and I'll get around to coding in the system exactly as its stated in his course for the CT and CTA. Test it on the markets he advocates (very fluid blue chip companies) and you do the same. We'll see what thorough back testing does. I have to warn you though... the mothod is quite tricky to code for some platforms (Metastock is a good example)... as there is an abort clause that triggers BEFORE the trade is entered. i.e. how do you code in the fact that you dont want a previously entered limit order to go ahead if a certain circumstance happens? I'll have a think!

Joe, whilst we wait... post your system test findings.
 
trendie, the advertising at the top of the pages is done via Google, and Google automatically picks up on words in each of the threads and tailors the ads accordingly.
 
Skimbleshanks... it might be worth changing your advert tactics, have a word with your bosses. Anything you advertise makes it look like you advocate them. There have been some dodgy looking stuff on your advert banners and a novice trader coming along may trust them because they are here. Please get your bosses to reconsider this and only advertise products, services and websites that they actually feel are good and of quality.
 
pkfryer said:
Skimbleshanks... it might be worth changing your advert tactics, have a word with your bosses. Anything you advertise makes it look like you advocate them. There have been some dodgy looking stuff on your advert banners and a novice trader coming along may trust them because they are here. Please get your bosses to reconsider this and only advertise products, services and websites that they actually feel are good and of quality.

Thank you so very much for your advice.
 
Skim,

my apologies - I thought T2W got advertising revenue thru the ads !!
 
Skim,

and by inference, people may imply the ads were approved of in some way by T2W.
 
Champion Trader Active (yet again ...)

Hi everyone

Please let me know if this has been covered before, but I (wisely or not) bought CTA. I'd bought the original CT previously, and was lured by the mention of trading the difference between the FTSE and the DOW which was DEFINITELY going to be covered in CTA. But no, not a peep. I emailed them, and was told that an update would be available at the end of May. Guess what ... nada.
a) Is it worthwhile chasing them up again for an update?
b) Does anyone out there know of the FTSE/DOW trading method?
c) Next time I'm tempted to shell out money for a 'sure-fire' trading system, could someone beat me over the head, please??

Thank you.

Barbs.
 
Hi Barbie

As far as I know the CT or the CTA formula has nothing to do with trading the difference of FTSE- DOW. I think you were given the wrong information.
But i do know there is another thread in Trade2win Boards called Index King that is all about a formula trading the difference between FTSE-DOW, do a search and you will find it.


Buzzee
 
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