Eleri Taylor: Unfair Question??

[trendie]

hi,

I get weekly updates from Eleri Taylor.
I think he was a T2W member ages ago.
Anyway he has a "risk 600 pips to make 300 pips" system, which is making great gains.

I recently was offered a chance to buy his signals, and he sent, as he always does, an excel of all his trades, which include winners, losers, and open trades, which is certainly a positive from a vendor.

However, although he claims many thousands of pips on closed trades, I totted up the open trades, and I found the open trades totalled about the same as the wins, in terms of exposure".

My email to him was: (sent July 15, so ample time to respond)

"sorry for being thick about this,
but arent the accumulated losing short positions about 22,000 pips underwater.
and the open long positions in the black by about 2000 pips.
leaving a nett exposure of around 20,000 pips??

if you had to show the aggregate position, you would have to say that 2012 is at best break-even?

dont understand. needs clarifying.

thanks
Paul"


I havent as yet had a reply.
Should I not expect a reply?
Should I presume I am thought of as being picky, and am being ignored?
Should I presume a lack of response as acknowledgement the system hasnt been performing as well as could be expected?
Is it a reasonable question to ask? (I dont want to be picky or troublesome, I just thought it was a good question to ask)

thanks

EDIT: the subject header of the incoming email was:
"THE'C'SYSTEM .................. 21,900 PIPS PROFIT IN 2012 SO FAR !!!!"

 

[pboyles]

hi,

I get weekly updates from Eleri Taylor.
I think he was a T2W member ages ago.
Anyway he has a "risk 600 pips to make 300 pips" system, which is making great gains.

I recently was offered a chance to buy his signals, and he sent, as he always does, an excel of all his trades, which include winners, losers, and open trades, which is certainly a positive from a vendor.

However, although he claims many thousands of pips on closed trades, I totted up the open trades, and I found the open trades totalled about the same as the wins, in terms of exposure".

My email to him was: (sent July 15, so ample time to respond)

"sorry for being thick about this,
but arent the accumulated losing short positions about 22,000 pips underwater.
and the open long positions in the black by about 2000 pips.
leaving a nett exposure of around 20,000 pips??

if you had to show the aggregate position, you would have to say that 2012 is at best break-even?

dont understand. needs clarifying.

thanks
Paul"


I havent as yet had a reply.
Should I not expect a reply?
Should I presume I am thought of as being picky, and am being ignored?
Should I presume a lack of response as acknowledgement the system hasnt been performing as well as could be expected?
Is it a reasonable question to ask? (I dont want to be picky or troublesome, I just thought it was a good question to ask)

thanks

EDIT: the subject header of the incoming email was:
"THE'C'SYSTEM .................. 21,900 PIPS PROFIT IN 2012 SO FAR !!!!"

I don't think its wrong to ask that question. Clearly the guy is up to no good if he's reporting profits of 21,900 pips but has open losing positions of 22,000 pips. I have to say it's the oldest trick in the book, I'm surprised he didn't do more to cover up the losing positions. I think you should stay well clear of him.

 

[donaldduke]

Hey trendie,

Why you still messing about with dogsh!t vendor systems, i remember back in 2004 you bought a dumb breakout system from jonnyT.. which made no money in real trading. God knows how many you have bought in the interim 8 years?

Stop wasting your time and money!

You just encourage these vendors to produce more dogsh!t.

 

[The Leopard]

Hey trendie,

Why you still messing about with dogsh!t vendor systems, i remember back in 2004 you bought a dumb breakout system from jonnyT.. which made no money in real trading. God knows how many you have bought in the interim 8 years?

Stop wasting your time and money!

You just encourage these vendors to produce more dogsh!t.

I was a bit surprised as well that someone who has been around so long has any interest in these things.

As for the thing itself, as Pboyles pointed out, it's probably the oldest trick in the book. But I guess it hasn't run out its string quite yet.

 

[NVP]

I recently got about 4 junk e-mails in a row from her regarding W systems C systems and god knows what else

I politely told her to stop e-mailing me or I would flame her ass on the forums

N

 

[NVP]

Hey trendie,

Why you still messing about with dogsh!t vendor systems, i remember back in 2004 you bought a dumb breakout system from jonnyT.. which made no money in real trading. God knows how many you have bought in the interim 8 years?

Stop wasting your time and money!

You just encourage these vendors to produce more dogsh!t.

jonnyT ........now theres a name from the past

 

[LOTONtech]

hi,

I get weekly updates from Eleri Taylor.
I think he was a T2W member ages ago.
Anyway he has a "risk 600 pips to make 300 pips" system, which is making great gains.

I recently was offered a chance to buy his signals, and he sent, as he always does, an excel of all his trades, which include winners, losers, and open trades, which is certainly a positive from a vendor.

However, although he claims many thousands of pips on closed trades, I totted up the open trades, and I found the open trades totalled about the same as the wins, in terms of exposure".

My email to him was: (sent July 15, so ample time to respond)

"sorry for being thick about this,
but arent the accumulated losing short positions about 22,000 pips underwater.
and the open long positions in the black by about 2000 pips.
leaving a nett exposure of around 20,000 pips??

if you had to show the aggregate position, you would have to say that 2012 is at best break-even?

dont understand. needs clarifying.

thanks
Paul"


I havent as yet had a reply.
Should I not expect a reply?
Should I presume I am thought of as being picky, and am being ignored?
Should I presume a lack of response as acknowledgement the system hasnt been performing as well as could be expected?
Is it a reasonable question to ask? (I dont want to be picky or troublesome, I just thought it was a good question to ask)

thanks

EDIT: the subject header of the incoming email was:
"THE'C'SYSTEM .................. 21,900 PIPS PROFIT IN 2012 SO FAR !!!!"

The "risk 600 pips to make 300 pips" sounds the wrong way round to me. Shouldn't traders be aiming to risk 300 pips to make 600 pips?

As for the banked profits vs. current exposure, maybe he's lying even to himself about the performance? Some think that a profit or loss isn't "real" until it is "banked", whereas others think that paper profits and losses are just as real as banked ones.

 

[pboyles]

It seems that it would be rather difficult for your open losing trades to match your closed profitable trades so closely. I suspect that this chancer is probably opening equal but opposite trades each time and just closing the profitable ones. This is rather like hedging, but with the purposes of scamming people. I think this sort of thing should be called scedging from now on, a scam and a hedge combined.

 

[trendie]

Hey trendie,

Why you still messing about with dogsh!t vendor systems, i remember back in 2004 you bought a dumb breakout system from jonnyT.. which made no money in real trading. God knows how many you have bought in the interim 8 years?

Stop wasting your time and money!

You just encourage these vendors to produce more dogsh!t.

I have bought a number, most recently the Nexus book, (for £60!)
Its more that I may be OCD and like to collect things.
I also have DiNapoli book, and a CD called Tornado, amongst many others.

My interest is purely one that is because its my new way of life.
As a programmer in a previous life, just because I earnt my money using C and 4GLs, doesnt mean I cant be interested in Linux, .net, etc.

I have settled upon trading pullbacks a while ago, from LBRs Street Smarts.
It is the mainstay of my trading. I am merely expressing an interest in other things.
PS: I appreciate the concern for my welfare, DD , but I just want to add ideas to my bookshelf at low costs. I am capable of deconstructing ideas and seeing the strengths and weaknesses, as expressed in my analysis of ETs email offer, and taking what I need without being blindsided. (most of the time)

 

[DionysusToast]

I don't get this.

If he has 22,000 pips in loss - by keeping losers open until they turn around - which might take years - then how does he open new positions? I mean - once you are in a loser for a pair, doesn't that pretty much take away your ability to open new positions on that pair in the opposing (and winning) direction?

If he's doing this across multiple brokers - he must be chucking money in the accounts with the losing trades.

Can you actually open opposing bets with a forex broker? Or is it all fantasy trades anyway?

 

[trendie]

I was a bit surprised as well that someone who has been around so long has any interest in these things.

As for the thing itself, as Pboyles pointed out, it's probably the oldest trick in the book. But I guess it hasn't run out its string quite yet.

Equally, being around for long enough, I did deconstruct his trades, and discover the discrepancy between the sales pitch and the unstated open exposure.

 

[The Leopard]

Equally, being around for long enough, I did deconstruct his trades, and discover the discrepancy between the sales pitch and the unstated open exposure.

Don't get me wrong, I understand that. I was just a bit surprised that you bother with this type of stuff in the first place, but you sort of answered that above anyway.

 

[The Leopard]

Or is it all fantasy trades anyway?

Probably.

 

[pboyles]

I don't get this.

If he has 22,000 pips in loss - by keeping losers open until they turn around - which might take years - then how does he open new positions? I mean - once you are in a loser for a pair, doesn't that pretty much take away your ability to open new positions on that pair in the opposing (and winning) direction?

If he's doing this across multiple brokers - he must be chucking money in the accounts with the losing trades.

Can you actually open opposing bets with a forex broker? Or is it all fantasy trades anyway?

I'd guess they are demo trades, purely for the purposes of selling whatever crap he (or is it she) sells.

I think you can be long and short the same pair with the same FX broker. In any case I think Trendie mentioned he was reporting them in excel so perhaps more than one broker, I dont know.

 

[trendie]

I don't get this.

If he has 22,000 pips in loss - by keeping losers open until they turn around - which might take years - then how does he open new positions? I mean - once you are in a loser for a pair, doesn't that pretty much take away your ability to open new positions on that pair in the opposing (and winning) direction?

If he's doing this across multiple brokers - he must be chucking money in the accounts with the losing trades.

Can you actually open opposing bets with a forex broker? Or is it all fantasy trades anyway?

I didnt deconstruct the reasoning for the trades.
All that happens is that in the early part of the day, a trade triggers, and is for a 300 pip target with a 600 pip SL.
There can be days when there isnt a trade.
Other times, sometimes more than 1 trade gets triggered.
This bothered me, since its the equivalent of doubling up.
I did place the trades on the chart, but couldnt discern any obvious pattern.
Trades are triggered whether there are other trades on or not. So they sort of accumulate. ie, if the daily range of previous day is less than 300, then another trade triggers anyway, irrespective of the outcome of a previous trade.
However, after a small accumulation of losses, I noticed there were 2 or 3 trades triggered rather than one, hence my belief it was a sort of doubling up.

Anyway, deciphering it all is more fun than a sudoku.

 

[pboyles]

Anyway, deciphering it all is more fun than a sudoku.

Sorry if I ruined the puzzle for you.

 

[trendie]

Don't get me wrong, I understand that. I was just a bit surprised that you bother with this type of stuff in the first place, but you sort of answered that above anyway.

Suppose so.
But there is only so much porn you can watch before getting bored.