Independent Review of WallStreet1928

[MajorDutch]

Do people still use the word guff these days? :clap:
I will address each of his points at the end of the review (even though they have actually been addressed already in separate posts including his religious claim, which BTW is guff as he has already used spread betting and promoted it) when we can have a nice conclusion.

take it on the chin sidekicker. stick to facts and facts only all this vitriolic nonsense is just that.

 

[Splitlink]

I have decided to preserve flashearts honour and dignity, even though he disrespected and stated that my ftse and nasdaq longs would hit stop loss. Please read the thread and realise what type of person mr flasheart is.
http://www.trade2win.com/boards/uk-...x-s-p-aimed-help-new-traders.html#post1735064

I have also been made aware he as been disrepecting me at a different thread which is not very nice at all

they have both been closed for + 40


total points today = + 75

all called live on this thread
http://www.trade2win.com/boards/uk-...x-s-p-aimed-help-new-traders.html#post1735064

total points for the week = + 420

WS, without doubt, you are your own worst enemy.

Instead of shutting up and confining yourself to sending emails which can be analysed by people who you have invited to do so, you cannot resist entering into silly posts about respect and dignity with those whose only aim is to antagonise.

Don't you see that?

 

[dc2000]

Shakone may I ask if there was a new long after 10am? as in your post is said text at 10:12 all longs close FTSE +40

but at 2:52 WS posted jumping off long now closed FTSE +40

 

[Shakone]

There was no new long dc2000, but Wallstreet may be holding a final par tof his position all this time. I exit fully on the target given, because at times it is a bit unclear about how much to exit. Sometimes he seems to exit fully, other times two-thirds, other times I don't know how much he's exited. Safest thing for the review is for me to exit fully when he does.

In particular the email at 10:12 did state "All long trades closed +40"

 

[dc2000]

There was no new long dc2000, but Wallstreet may be holding a final par tof his position all this time. I exit fully on the target given, because it at times is a bit unclear about how much to exit. Sometimes he seems to exit fully, other times two-thirds, other times I don't know how much he's exited. Safest thing for the review is for me to exit fully when he does.

thankyou

 

[Shakone]

Final update for day 4. I'm clocking off now.

15:12 short nasdaq 2308, stop 2333, target 2293. I had 2308.5

15:24 short FTSE from 5530, stop 5565, target 5505. I had 5534

15:49 text stating WS is out, so I exited FTSE at 5519, for +15, exited nasdaq at 2300, for +8.5

claim is "+455 for the week, 45 points left for 500"

Summary for the week as follower

19 trades, 12 wins, +52.5 pips, 63% win probability

% gain for the week if risking 3% per trade

+2.11%

 

[MajorDutch]

Ok I have been doing some analysis into the facts and here they are. I have looked at all the trades called this week. I have had to make some assumptions these are:

Close prices taken from 1min candle on IG index during minute that text alert was given.
Trade marked invalid if either of SL, Target 1 missing.
Trade marked invalid if Target 1 is wrong side of entry.
Trade marked invalid if price is clearly a LONG way from entry level texted.
Trade marked open if price hasn't yet hit SL or Target 1.
I tested each trade letting it run until either SL or Target 1 is hit.
Spread have been ignored

end results 68% hit rate net +42.66 pips (THIS FIGURE HAS NOW BEEN AMENDED SEE LATER POST)

however the whole result was skewed but the AUDUSD trade which took a -227.8 pip loss by my calculation. The price on IG index was 13 pips lower when I received the text from WS1928. Also his Target 1 was 0.996 and his SL 1.02 which I am sure is a mistype and should be 1.002. WS1928 recorded the loss as -60 so none of the figures match. This trade skews the whole results.

My emails are time stamped via gmail. The texts are time stamped on my iphone however it looks like the iphone is grouping together some texts as the same time, you can see this from the figures.

I don't believe there is any sensible way to test these alerts with the 2/3rd initial last 1/3rd runner. This is because there is no consistency in the way it is applied sometimes it is mentioned, others time it isn't. I also don't believe it is possible to test these alerts with an averaging in method there are too many variables.

The results are good without the AUDUSD trade but this is inconclusive as the target and SL alerted seem very unlikely but I cant see where the -60 loss that WS1928 reported came from either.

In summary I think the only way that we can reach any conclusion is the following:

*WS1928 to give entry, SL, TP
*No averaging in
*No partial positions
*fixed % of SL & TP per trade

Happy to discuss any corrections with anyone.

I am currently in the Philippines so I am probably sleeping when you are awake.

Good night all. happy trading.

Spreadsheet attached.

major D

 

[Shakone]

however the whole result was skewed but the AUDUSD trade which took a -227.8 pip loss by my calculation. The price on IG index was 13 pips lower when I received the text from WS1928. Also his Target 1 was 0.996 and his SL 1.02 which I am sure is a mistype and should be 1.002. WS1928 recorded the loss as -60 so none of the figures match.

That's true, he did email 1.02, but I considered this just another typing mistake and gave him the benefit of the doubt that he meant 1.0020. Perhaps I should take off another 180 pips . But that would be harsh.

 

[MajorDutch]

That's true, he did email 1.02, but I considered this just another typing mistake and gave him the benefit of the doubt that he meant 1.0020. Perhaps I should take off another 180 pips . But that would be harsh.

Hi Shakone. I now understand why a loss was booked against the FTSE and the AUSUSD trade. It ws clearly -35 for the FTSE trade & -35 for the AUDUSD trade. This completely tallies with the SL being 1.002 and NOT 1.02 clearly this is a typo. He definitely has to have the benefit of the doubt on this one as it is totally reasonable for him to go for a 25 pip target on 35 pip SL. Having a SL of 215 pips and 25 pip target would have been totally out of character given all the other trades. i am going to amend my figures accordingly.

major D

 

[MajorDutch]

ok everyone I have attached the updated spreadsheet of this weeks trades. so we are at 68% win rate with a net pip total of +222.66 for the week. seems the old chap is not doing to badly on the assumptions I am making the biggest of which is running the trades until original SL or Target 1 is hit.

remember no spreads have been included, there have been 17 winning trades so even taking into account a typical spread he is still doing good imo.

 

[MajorDutch]

clearly your ftse trade worked out very well,i did not check nasdaq, We can all call winning trades, keep doing it mate,it will be great for your business, just remember to count the pips correctly when they go wrong. Now apologise for the hospital and Im gone for good

Hi Flasheart

I have taken onboard your criticism of pip counting where partial profit taking (2/3) is made and last 1/3rd running plus other combinations. Please see my analysis of this weeks trades where I calculate he is +222 points for the week. It is valid to count the points here in this way as I am testing using a fixed amount of cash per point. WS1928 states in his alerts he typically uses 3% risk but is using a FIXED amount of cash per point. everything has been kept simple no averaging in simply running each trade to its SL or 1st target.

I just want you to know the facts as I believe this guy has something.

major D

 

[wallstreet1928]

"First they ignore you, then they laugh at you, then they fight you, then you win.”

Ghandi

 

[Masquerade]

remember no spreads have been included, there have been 17 winning trades so even taking into account a typical spread he is still doing good imo.

Why not? Is he and his followers special that they can trade without a spread?

 

[isatrader]

ok everyone I have attached the updated spreadsheet of this weeks trades. so we are at 68% win rate with a net pip total of +222.66 for the week. seems the old chap is not doing to badly on the assumptions I am making the biggest of which is running the trades until original SL or Target 1 is hit.

remember no spreads have been included, there have been 17 winning trades so even taking into account a typical spread he is still doing good imo.

So including spreads (as everyone has to pay them) your total is around +200 pips so far and WallStreet says he's up +455 pips and Shakone has +52.5 pips. Is that correct?

 

[MajorDutch]

Why not? Is he and his followers special that they can trade without a spread?

there is no need for that tone Masquerade. I agree that some spread should be included but how do you go about it. For example if you widen the target or stop out to include a spread how does this effect the results, then there are decision about what spreads are reasonable. A whole new set of variables are added in so i didn't include them to keep things simple. spreads are about 1 point on most of the instruments but can be as high as 6 pips out of hours on igindex. Personally I wouldn't take a trade with anything over 2 point spread on these instruments. Even if use an AVERAGE spread of 2 points which I think is way over the top 17 trades you are looking at taking 34 pips off the net pip score so still a healthy +188 on the week.

 

[MajorDutch]

So including spreads (as everyone has to pay them) your total is around +200 pips so far and WallStreet says he's up +455 pips and Shakone has +52.5 pips. Is that correct?

yes however we are testing different things:

Shakone is testing restricted hours I am testing all trades but I am not using any averaging in or partial positions just running each trade from it's original SL to target 1 from the price quoted on IG at time of alert. So it is no wonder we are all getting different pip scores.

PS - I am not testing averaging in or partial positions/runners as I don't believe they can be tested very easily or transparently.

 

[isatrader]

yes however we are testing different things:

Shakone is testing restricted hours I am testing all trades but I am not using any averaging in or partial positions just running each trade from it's original SL to target 1 from the price quoted on IG at time of alert. So it is no wonder we are all getting different pip scores.

PS - I am not testing averaging in or partial positions/runners as I don't believe they can be tested very easily or transparently.

Fair point, there's just a very big difference between your results and his -267 pips. So for example Wallstreet might finish the week up +250 for example, but if he has a losing day tomorrow then you'd likely end up negative for the week if you see what I mean as your slippage from his calls is 267 pips so far. So you're dropping around 10 points per trade.

Slippage and spreads are so important to minimise. Especially in day trading

 

[Masquerade]

there is no need for that tone Masquerade. I agree that some spread should be included but how do you go about it.

Either ask him what brokers/platforms he's using or alternatively use the spread betting company a lot of his followers will use (because frankly they're not going to get an IB account) and use IG spreads.

Bottom line: you have to include spread.

 

[Shakone]

Have posted about MajorDutch's results in the other thread. Some of the differences I don't agree with, because of the way he has traded the signals. That's not to put any accusation against MajorDutch's honesty, I just dont' think they accurately reflect the emails. MajorDutch is choosing to trade them a particular way which differs from what is emailed. Obviously it includes out of hours trading and trades before I started analysing which I can't comment on.

I think spread is very important to include. On one trade I remember, IG Index had a spread of 6 points because it was out of hours. For many of WS trades spread is typically between 1 and 3 pips. Eurusd I can get 1 most of the time, but not on eurjpy for example. including the spread becomes a bigger issue when trades are only just filled or targets only just hit. With spread they might not be of course.

 

[shewolf]

In summary I think the only way that we can reach any conclusion is the following:

*WS1928 to give entry, SL, TP
*No averaging in
*No partial positions
*fixed % of SL & TP per trade

I agree 100% with this. And he should post them all here LIVE, so we can see the time stamps