nine
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Yes, I sent them the following on the day I returned it
"This is a flawed concept. The evidence is in the daily "training" videos.
The system purports to be able to predict a movement of the exchange in advance, so that one can bet on a sure thing. Keith says anyone can do it - with no previous knowledge of trading.
It does do much better than chance in predicting a movement - about 92%! The problem is it cannot determine how far the market will move in a given direction or for how long. In about 70% of cases the market moves back before the trailing stop reaches a positive position, resulting in a loss.
Keith acknowledges the basic truth of the above and says the key to making money is to restrict the amount of loss and maximise the amount of gain. He says this incredible software incorporates a system to do this with a single mouse click. Each day he points to a number of movements that he claims achieved large pip gains.
In fact, very few such trades actually achieve anything like the gains shown. To justify this, Keith suggests a number of measures one can take. He talks about being aware of support and resistance lines and Fib retracements, increasing the trailing stop distance, accounting for trends and so on and so forth. Soon it becomes obvious that with a number of years experience in market trading, there might be some chance of making some money.
When one asks the "support team" where things are going wrong, it is suggested that the PTP strength should be increased to 8 (which incidentally removes as many profitable trades as unprofitable ones) and one should only react to an indicator when it appears in the 5 and 10 minute chart (funny, I don't remember that from the CDs).
The less gullible will by now begin to wonder what ever happened to the single mouse click!
Of course this system enables you to make £185 before breakfast on Tuesday morning. Unfortunately it will also lose you £75 before breakfast, lunch and dinner on Monday, Wednesday, Thursday and Friday.
You won't be surprised to learn that I shall be returning mine today. Shame, I thought I'd at last found an easy money supply - silly me.
I guess this will be one of those many testimonials that won't make it to your, or anyone else's, website!"
I received an fsp recommendation for this on Thursday. Are you able to recall which firms were recommended for trading, please?
I'm not so interested in the buying the system now, after having read your evaluation, but I need to find a reliable firm which allows me to trade at GMT+9 or more due to my locations (Japan/New Zealand), using GBP, and the write-up suggests one can do this. Thanks in advance.
shadowninja
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pseudo straddle
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tokie, there is some more comment here -
http://www.trade2win.com/boards/first-steps/31958-ultimate-forex-predictor.html
I’ve had a similar experience to reach with this one.
First of all let’s be clear, this is not a scam. I trialled the software for a month, made a small loss and returned it for a full refund. There is a support network who will answer calls and e mails promptly and there is a daily video update.
However, let’s also be clear, contrary to what the marketing material says, this is not a one-click system. Well not one that profits anyway.
The course provides software which, when plugged into the IQ Data Feed identifies potential trade points. It calculates entry, initial stop and trailing stop levels. When the signal changes colour you enter your trade at the levels it suggests.
However, its success is, at best, patchy. Yes some days if you use the signals and trail the stops you can make upwards of 100 pips in a single trade. However these trades are few and far between and the system provides as many losers as it does winners.
Also since I was only trading early morning and in the evenings I was never catching the big moves and the risk/reward for the smaller gains just wasn’t good enough.
Whilst I was trialling the software, two of the weeks I traded provided very small profits and the other two weeks ended up as losers. The promise of 22 pips a day is, in my opinion, very unlikely.
Just as reach said, alarm bells started ringing for me when the daily video update started to recommend using fib retracements, S & R, tinkering with stops etc to improve the quality of the trading signals. Since this system is sold on the grounds that it takes all of these factors into account in a one-click system you can see why I sent it back.
First of all let’s be clear, this is not a scam. I trialled the software for a month, made a small loss and returned it for a full refund. There is a support network who will answer calls and e mails promptly and there is a daily video update.
However, let’s also be clear, contrary to what the marketing material says, this is not a one-click system. Well not one that profits anyway.
The course provides software which, when plugged into the IQ Data Feed identifies potential trade points. It calculates entry, initial stop and trailing stop levels. When the signal changes colour you enter your trade at the levels it suggests.
However, its success is, at best, patchy. Yes some days if you use the signals and trail the stops you can make upwards of 100 pips in a single trade. However these trades are few and far between and the system provides as many losers as it does winners.
Also since I was only trading early morning and in the evenings I was never catching the big moves and the risk/reward for the smaller gains just wasn’t good enough.
Whilst I was trialling the software, two of the weeks I traded provided very small profits and the other two weeks ended up as losers. The promise of 22 pips a day is, in my opinion, very unlikely.
Just as reach said, alarm bells started ringing for me when the daily video update started to recommend using fib retracements, S & R, tinkering with stops etc to improve the quality of the trading signals. Since this system is sold on the grounds that it takes all of these factors into account in a one-click system you can see why I sent it back.
pacmangotdmuchies
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I also tried the system around this time last year.
It is a lot of hot air......Keith does what the least intelligent forex system frausters do......he waits till the end of the day, looks at where the big moves came, looks at what indicator would have achieved a result and then tries to explain that his system would have worked if you applied that particular indicator.
He tries to imply that he would have used that indicator as if it was obvious to any trader with experience. The fact is anyone can win 100% of the time with hind sight....the oldest most unsophisticated tipster trick in the book.
Get real, learn a bit of fibonarchi, a bit of moving averages, and maybe a couple of other indicators that take your fancy for gaining your own stop and loss entry/exit strategies. These are only to be used as a way for you to get a plan together, some self discipline in your trading. None of them are meant to predict the future.....they are just there for structure.
Then learn fundementals and take a view on the markets....again this is just to give your trading structure and will not predict the future.
Then expect to lose but with the added benefit of a strict structure in place for your stop/Loss.
Then let your winning trades run and stay strict with your Loss. Never use stops just double up on retraces and exit when your Loss barrier is hit. Don't chase the trade again....leave it alone enter another setup.
This is the only way to trade multiple positions.
Good luck!
It is a lot of hot air......Keith does what the least intelligent forex system frausters do......he waits till the end of the day, looks at where the big moves came, looks at what indicator would have achieved a result and then tries to explain that his system would have worked if you applied that particular indicator.
He tries to imply that he would have used that indicator as if it was obvious to any trader with experience. The fact is anyone can win 100% of the time with hind sight....the oldest most unsophisticated tipster trick in the book.
Get real, learn a bit of fibonarchi, a bit of moving averages, and maybe a couple of other indicators that take your fancy for gaining your own stop and loss entry/exit strategies. These are only to be used as a way for you to get a plan together, some self discipline in your trading. None of them are meant to predict the future.....they are just there for structure.
Then learn fundementals and take a view on the markets....again this is just to give your trading structure and will not predict the future.
Then expect to lose but with the added benefit of a strict structure in place for your stop/Loss.
Then let your winning trades run and stay strict with your Loss. Never use stops just double up on retraces and exit when your Loss barrier is hit. Don't chase the trade again....leave it alone enter another setup.
This is the only way to trade multiple positions.
Good luck!
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Forex Predictor? I am 9 years on FX markets and the one thing I can say for sure is following:
You can not predict anything!
Future does not exist. there is only NOW where you can take decision of how much you can lose(STOP order) and how much you can earn(LIMIT order). Just imagine - if it was possible to 'predict' moves on FX market(or any other) we would already have giant corporations, running the best computers, hiring the best traders - everything in order to predict and take from the table ALL money. For some reason it does not happen.
You can not predict anything!
Future does not exist. there is only NOW where you can take decision of how much you can lose(STOP order) and how much you can earn(LIMIT order). Just imagine - if it was possible to 'predict' moves on FX market(or any other) we would already have giant corporations, running the best computers, hiring the best traders - everything in order to predict and take from the table ALL money. For some reason it does not happen.
