Goldline Trading System

fastmower

Newbie
2 0
Hi all,

As a newcomer, I too had a look at the Goldline system, and today received the following in an email from them.

Can anyone here confirm the accuracy of the figures they have quoted?

We told you how we made £5,995.50 last week on the Nikkei spread bet advised by the Goldline trading system.

This week; Goldline advised just 3 trades: On Monday, all our members entered a sell trade on the Dow at 10517 and a sell on the Nasdaq at 1478.

Yesterday we all entered a sell on the Dax at 4027

As the market now stands (11.30 am 11/4/04) all our members accounts are showing considerable profits:

Our Dow trade is currently up by £3085.25
Our Nasdaq trade sits very prettily £2999.52 in profit
Our Dax position is in profit by £1876.78

The spread betting company our members use have told us that their Goldline clients are in the top tier of their most successful traders, with this weeks profit standing at £7,961.55! it's easy to see why!
.

Andy
 

Dow Dog

Well-known member
409 0
How can they know that ALL their members entered the trades ?

Do they phone them all up ?

Mind you, at the price they charge it shouldn't take long to phone ALL their members up.
 

Skimbleshanks

1
2,325 16
I would be highly suprised if the spread betting company concerned would reveal such information. I doubt they'd have a clue as to who was and was not a user - or indeed care.
 

Bigbusiness

Experienced member
1,408 23
It is such a shame that these people are allowed to get away with things like this. This has to be some form of false advertising.
 

fastmower

Newbie
2 0
So what would you guys advise as a suitable course of action for a complete newcomer to take to learn the ropes as it were?

Books, software, courses? And are some markets and or trading systems easier to get to grips with than others?

Any pointers would be more than welcome!

TIA,

Andy
 

The Wanderer

Member
88 0
Pay a visit to Naz(Alan Rich) for his beginners course-advertised on Trade2Win home page.

Alan is very good at finding out what level you are at and will recommend the appropriate strategy for you to follow.

Depending on financial circumstances may seem a lot to pay out if just starting out but you could easily lose 5 times the cost of the course in the space of a few months if you trade without a plan.IMO excellent value especially when you consider the spivs who are out there charging around £3000 for a load of crap that doesn't work.Just remember to stick to Alans rules rigidly.

:) :) :)
 

noggin

Newbie
6 0
fastmower; ask them to give the results of their previous 15 trades-I would be very interested in their reply.

noggin
 

KIMMRUNNER

Member
58 2
Condemned by their own data!

Goldline publish data on their website of historic trades: for the four year period of jan 00 to jan 04 (when I downloaded) there may be more now.

Ostensibly, they produce a 'profit' of £59000 over that period.

The reality is they do this by rapidly increasing stake, and also having multiple index trades open at any one time: so that the drawdown is 70% at one point. from £15000 to £5000 - is hopeless bordering on suicidal.

Recalculating their own spreadsheet to single £ per point they achieve a miserable £14000 drawing down £2000 or 25% at one point - and losing money for periods of entire year at a time!

Considering that there are typically at least 2 trades open at any one time - this represents less than a miserable £7000 to a single point stake - in this case mainly on DOW!

There are simple schemes that can achieve £15000+ to a single pound of FTSE with considerably less drawdown ( ie £30000 based on the relative value of DOW to FTSE), using no stop loss. Notice that by increasing stake commensurate with the size of fund can achieve £150K on less drawdown than goldline

How do these guys get away with charging for such things!


There really does need to be a standard set of rules for quoting scheme performance & if there was IMHO goldline would fail the monkey mark!

I attach the data:
 

Attachments

  • goldline.xls
    979 KB · Views: 449

anley

Senior member
2,730 229
KIMM

Because they sell 'dreams' that's why. Also most people only ever look at the end results, not how they got there.

I also picked up on the horrendous drawdowns, you call them suicidal and I said the system was impossible to trade because 99.9% would jack it in when they realise not only how much money they've lost but more importantly just how much of a percent they've got to make to get back to square one.

Work from home, second income, a few minutes a day, financial freedom etc etc etc. It all gets very boring, but I hope that most people have sense and find this board before they shell out crazy money for a bunch of crap.
 

Bigbusiness

Experienced member
1,408 23
It is a shame that another well known UK trading website has advertised this lot for a long time. I did complain to them and pointed out some of the reasons why I thought they should not be advertising them. Then a month later I get another email advertising them.
 

anley

Senior member
2,730 229
BB

We're getting like the Americans who'll do anything for a Dollar.

As an example how long do you think before all the Permiership football stadiums lose their names to become;

The Staples Ground
The B&Q Stadium
Kelkko.com Park
The Tesco Stadium

etc etc. I give it about 5 years max. It's already happened to the Rebok Stadium but I think you can let that one go because it was new.
 

Mr Squad

Junior member
37 0
fastmover,

I went to see Goldline systems, the figures they give are normally true. However its like kimmrunner says its what you have to risk that counts and at times its the shirt off your back.

Finspreads have a special number for Goldline customers, so they do actually care but for what reasons, I dont know.

theres one thing for sure. Goldline Systems will never lose. regardless of what their clients do.

MS
 

reddragon

Member
73 2
Hi,
"Finspreads have a special number for Goldline customers"
Being a tad cynical is this a hotline for mug punters ???
:cheesy: :cheesy: :cheesy:
 
 
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