Lukkana:
I must agree with you. I have been running this on a live account for 4 months. In order for this system to make money, it needs to have more than one winning trade for every two losing trades. December is the only month this happened for me and just barely - with exactly 1 win for every 2 losses. Since Jan 30th I have had a run of 7 losses - not counting the Break Even trades.
I must be stubborn as I have kept trading this system even though I have lost over $300 on a $1500 account plus the cost of the system.
I am thinking about using a modified martingale system and increase the trading lots by 67% after each loss. If I reduce the risk to 0.25% I should have sufficient capital to keep trading through 6 losses in a row and still end with a profit. Looking at the data from back testing, the worst runs seem to be about 7 trades in a row.
Interestingly enough, this approach seem to have the same draw down as just risking 2% per trade and losing 6 trades in a row. And over the last 4 months, the average number of losing trades in a row is a little more than 3 while the average number of winning trades is about row is about 1.15. So it would appear that the only way to salvage this system is with a different money management approach.
One final note: When I purchased this system, the sales pitch discounted back testing as the market was always changing. So I was encouraged to sign up for the Club to make sure that the software keeps current with the market. Based on the poor performance I have been experiencing, it would appear that the market has changed but the software has not.