Forex Trading System - 2200%

ilia king

Well-known member
327 0
Firstly I would like to say that I found this system on MoneyTec, the guy who invented it showed, with proof on backtesting data, that it made 2200% in one year. The thread is located here:

http://www.moneytec.com/forums/_showthread/_threadid-7549/showthread.php?threadid=7549&perpage=8&pagenumber=1

I am not a believer of quick money but do not understand his system. I am not trying to advertise it but if it really makes 2200% in a year? Too Good to Be True. I am pretty sure this guy is lying but as I say do not understand his system to judge.

It mentions indicators like OsMA, Force, Parabolic Sar etc. Code for Metatrader is also provided. Please could someone investigate this as I am puzzled?
 

TheBramble

Legendary member
8,395 1,171
IK - come on...

How many times has this one been covered?

If it seems too good to be true.....

And be really honest, if you had a system that delivered 2200% pa - would you spend your time trying to sell it to a largely unbelieving and miserable bunch of negative misfits like us traders - or - would you just trade it for yourself?
 

ilia king

Well-known member
327 0
No I know I totally agree with you but MoneyTec is a pretty good forum. I am not really trying to trade by it or believe that it is a good system but I am trying to understand it but can't because I am not that good on TA. I might pick a few bits out of it but yhea TooGoodToBeTrue.

He might be a very kind person LOL

But my main question is what are those indicators? I am personally a fan of Chart Patterns and Time, and maybe a EMA - to the most an RSI
 

ilia king

Well-known member
327 0
The results for the USD/CHF were quite good 120.16% in one year, with 51 losing trades and 65 winning trades. The largest losing trade £5085.93 and the largest winning trade £4747.96. I very hard system to trade by, emotionaly.

Where is the 2200% promised I only got 120.16%

Attached is the result sheet saved in html
 

Attachments

  • expresults.htm
    98.3 KB · Views: 557

ilia king

Well-known member
327 0
The results for the GBP/USD were horrible, only 84.85% in a year. The number of losing trades, 47 and winning trades, 66. The largest losing trade, £6336 and the larges winning trade, £3600

Worse than the USD/CHF and again very emotional as there are quite a lot of big losing trades in a row. I do not see a £2200 profit but thanks for the kind person on MoneyTec sharing it with us. Maybe it will do better on a different currency rate

Attached the results for the GBP/USD backtesting data
 

Attachments

  • expresultsgbp.htm
    91.4 KB · Views: 493

ilia king

Well-known member
327 0
Actually reading through the thread, the system works on EUR/USD, which I have not tested. But will do as on the thread he shows a screen shot in the strategy tester showing a huge profit (2000%)
 

ilia king

Well-known member
327 0
Looks like I spoke too soon. The 1 year Backtest on the EUR/USD 1 hours charts shows a 566.37% profit! near the end it was 1030% roughly but then it went down.

There are 67 winning trades and 25 losing trades, with a llt of -$25228 and a lwt of +$18000 from $10000.

If I were trading in real life I would get $56,637 from $10,000 but again very hard to trade also could it have been just a very good year for EUR/USD (maybe that is why he picked it)

However the person suggested that there was a glitch in metatrader (some order delay thing)

Attached the results of the backtest
 

Attachments

  • eurusd.htm
    81.5 KB · Views: 502
Last edited:

Newtron Bomb

Experienced member
1,602 87
illi king

Euro = 120% per annum
GBP = 84% per annum
both strats are better than 50/50

most people would dream for returns like this

Kind regards
NB
 

ilia king

Well-known member
327 0
I backtested A $3000 account with Real Trader (would never open a real account with them).

Test period: 2/10/2003 to 3/18/2004
96 trades
69 winners
27 losses
$43k+ profit

Looks like someon beat me, LOL
 

Attachments

  • result.jpg
    result.jpg
    40.3 KB · Views: 924

ilia king

Well-known member
327 0
Thanks Newtron Bomb, thought that no-one was ever going to look at this post. I am thinking of trading this life, maybe even automated, but have to do more tests
 

TheBramble

Legendary member
8,395 1,171
Sorry guys - this is rubbish.

IK - send me a chart of you're choosing, any instrument, any timeframe and covering any period of time - and I'll construct you a really profitable system that will perfectly fit the data under study.

...or my name ain't DW....

NOBODY SELLS WINNING SYSTEMS - THEY TRADE THEM!!!!
 

eminem

Active member
185 1
TheBramble, I don't think its being sold, its in the public domain and the guy is looking for comments on it to help improve its performance - obviously 2,200% pa is not enough :) At least thats my undersatanding from reading the start of the moneytec thread.
 
 
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