A colleague of mine bought the Shiraz nonsence a couple of years ago and when we tried to put it into practice it proved to be totally worthless. His marketing is excellent (like Vince Stanzione) but when we discovered there was no sensible stop losses/money management/risk management etc etc, it joined the stack of rubbish books and systems that weve bought over the years. He may have updated it and it may now be excellent...but I somehow doubt it.
The Champion Trader system is utter sh%*, its aimed at people that no nothing about trading whatsoever! His introduction to the world of trading and phycological breakdown of whats involved isnt a bad read! :|
But the system itself is 2 b laughed at, if its that easy 2 sell such as system i might devise my own over the weekend.
Its definatly inferior 2 IK's system, which all in all will pay off!!! :cheesy:
Mug2k
But the system itself is 2 b laughed at, if its that easy 2 sell such as system i might devise my own over the weekend.
Its definatly inferior 2 IK's system, which all in all will pay off!!! :cheesy:
Mug2k
Good new guys, for anyone who is still interested in the IK system. The new Guy Richard has been working on the system and has devised a few new rules (of his own).
The results have been very good, and he will be posting them 2 nite or on Monday along with the back tested data.
Should b fun
Mug2k
P.S Ive looked at jpwone's 96 system and it seems okay, but i could neva use real money on something so unpredictable.
The results have been very good, and he will be posting them 2 nite or on Monday along with the back tested data.
Should b fun
Mug2k
P.S Ive looked at jpwone's 96 system and it seems okay, but i could neva use real money on something so unpredictable.
J
jaichopra
mug2k
i have been on the site and read it and am confused now .does it mean now a trade would be closed out if the dow closes by 100 or more points in the wrong direction? would a new reverse trade be triggered at the same time or the same 7 day lagging values are used before a new trade is triggered? the new trade figures for today are 5495 to increase which has to be a new calculative method. ANY IDEAS.
EVERYBODY input input PLEASE. THANKS jai.
i have been on the site and read it and am confused now .does it mean now a trade would be closed out if the dow closes by 100 or more points in the wrong direction? would a new reverse trade be triggered at the same time or the same 7 day lagging values are used before a new trade is triggered? the new trade figures for today are 5495 to increase which has to be a new calculative method. ANY IDEAS.
EVERYBODY input input PLEASE. THANKS jai.
D
daps
hi...
well if you look at the results and the duration of trades they dont match. look how many trades have made 250+ in one day - dow hasnt had many +/- 250+ days over the last year. couple of 300 + profits. just doesnt add up.
regards
well if you look at the results and the duration of trades they dont match. look how many trades have made 250+ in one day - dow hasnt had many +/- 250+ days over the last year. couple of 300 + profits. just doesnt add up.
regards
J
jaichopra
SNIP when you have some time we need your computerised data assessment skills here please. many thanks jai.
Jai
This new system is just an idea, DO NOT TRADE until the new guy has actually told u 2 do so!
Thats why it says on paper trade :|
Stick 2 the original system, if u want some kind of stoploss ur gonna have 2 implement it yourself!
You cant have everything given 2 you on a plate, especially when its free. :cheesy:
Mug2k
This new system is just an idea, DO NOT TRADE until the new guy has actually told u 2 do so!
Thats why it says on paper trade :|
Stick 2 the original system, if u want some kind of stoploss ur gonna have 2 implement it yourself!
You cant have everything given 2 you on a plate, especially when its free. :cheesy:
Mug2k
J
jaichopra
mug2k
thanks for that clarification . i am only just seeking to understand as to the usage of the stoploss. i am sure there is no harm in trying to understand the mechanics of something which one employs even though if only on paper or even when it is free.
thanks anyway jai.
thanks for that clarification . i am only just seeking to understand as to the usage of the stoploss. i am sure there is no harm in trying to understand the mechanics of something which one employs even though if only on paper or even when it is free.
thanks anyway jai.
Jai
Sorry 4 being rude earlier, no offence intended! The stoploss was introduced to stop the big 600 point losses and other large losses this new system has produced!
I do not understand either as the stop should only be hit by eod prices, im not sure how this can be implemented!
Also somebody said earlier that some figures produced by Richard, such as 300 point wins in just 1 day are not feasible
Anyway, I'll email him 2 clarify everything! I'll b reporting back.
Jai, just stick with the original system 4 now it will pay off just wait and see, 2day will see some of those points clawed back
Mug2k :cheesy:
Sorry 4 being rude earlier, no offence intended!
The stoploss was introduced to stop the big 600 point losses and other large losses this new system has produced!I do not understand either as the stop should only be hit by eod prices, im not sure how this can be implemented!
Also somebody said earlier that some figures produced by Richard, such as 300 point wins in just 1 day are not feasible
Anyway, I'll email him 2 clarify everything! I'll b reporting back.
Jai, just stick with the original system 4 now it will pay off just wait and see, 2day will see some of those points clawed back
Mug2k :cheesy:
J
jaichopra
mug2k
thanks for that .no offence taken. i shall look forward to reading any info. you may post . thanks jai
thanks for that .no offence taken. i shall look forward to reading any info. you may post . thanks jai
Don't worry jai, we are still on track. Richard has said DOW target is 9776 or less, which is the same value as calculated on the system we cracked(7 day lag).
Nothing has change except Richard is trying to work on reducing the large drawdowns by using a SL. Not sure 100pts down on the DOW is the right way to go though..!!
Cheers Snip
Nothing has change except Richard is trying to work on reducing the large drawdowns by using a SL. Not sure 100pts down on the DOW is the right way to go though..!!
Cheers Snip
J
jaichopra
snip
many thanks for that .the new method of calculations is obviously different as it 's figure for the morning was 5495 to increase.
anyhow as you have the expertise to run various test datas ,i have an idea for you to run through your computer to see what results come out if you back tested this.
you had tested this ik system with various no.of lagging days .what if a trade was entered in the opposite direction instead, when a new trade is generated with a stop loss of 50 or 60 points with the position closed for a hundred point profit. so if the system based on 10 days lagging values comes out with say diff.of 5400 to decrease ,the actual trade made is 5400 to increase with the position closed at 5500,or 5340 whichever is hit first. then the next trade is again in the opposite direction when the ik system genrates a new entry , the thought behind is as most trades go out before coming in whether this approach generates better profits. thanks regards jai.
many thanks for that .the new method of calculations is obviously different as it 's figure for the morning was 5495 to increase.
anyhow as you have the expertise to run various test datas ,i have an idea for you to run through your computer to see what results come out if you back tested this.
you had tested this ik system with various no.of lagging days .what if a trade was entered in the opposite direction instead, when a new trade is generated with a stop loss of 50 or 60 points with the position closed for a hundred point profit. so if the system based on 10 days lagging values comes out with say diff.of 5400 to decrease ,the actual trade made is 5400 to increase with the position closed at 5500,or 5340 whichever is hit first. then the next trade is again in the opposite direction when the ik system genrates a new entry , the thought behind is as most trades go out before coming in whether this approach generates better profits. thanks regards jai.
J
jaichopra
snip
i mention 10 days lag values above as i remember your data tests showed the minimum profit for this no.of days.so whether it means that it would have run more in the opposite direction instead ???? thanks jai.
i mention 10 days lag values above as i remember your data tests showed the minimum profit for this no.of days.so whether it means that it would have run more in the opposite direction instead ???? thanks jai.
jai
The 5495 was the difference for his trial system, we are still on the normal system which started on a difference of 5379.
You need to check my previous posts.. Most of the winning trades only last a few days. Most of the losing trades start bad, go on for over 10 days and either come back for a small win/loss, or get worse with a balls gripping drawdown.
Your theory above about trading opposite to the system can work, but only on the odd occasion. The only true way of working any mechanical system is to just do it and try to forget your emotions. Some people are not cut out for this approach, it just depends on your personality, we are all different.
If you want peace of mind then just trade using TA with decent stops, just depends what you want..!
Cheers Snip
The 5495 was the difference for his trial system, we are still on the normal system which started on a difference of 5379.
You need to check my previous posts.. Most of the winning trades only last a few days. Most of the losing trades start bad, go on for over 10 days and either come back for a small win/loss, or get worse with a balls gripping drawdown.
Your theory above about trading opposite to the system can work, but only on the odd occasion. The only true way of working any mechanical system is to just do it and try to forget your emotions. Some people are not cut out for this approach, it just depends on your personality, we are all different.
If you want peace of mind then just trade using TA with decent stops, just depends what you want..!
Cheers Snip
Bigbusiness
Experienced member
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Snip,
There is a different system to the old one. It might be worth having a closer look:-
http://www.winning-spreadbets.com/special.htm
There is a different system to the old one. It might be worth having a closer look:-
http://www.winning-spreadbets.com/special.htm
J
jaichopra
snip
thanks for the insight .i do appreciate your views. thanks jai
thanks for the insight .i do appreciate your views. thanks jai
BB
I had already looked at Richards Special system, which is in the experimental stage. One thing I don't understand is the contradiction whereby he says:
3 If the trade is stopped out by the 100 point stop loss condition then you DO NOT REVERSE IT. You wait for the next trade to be posted.
But he is reversing and the last result was good.
I'm not sure this will prove successful every time, because looking at the data a lot of trades get to -100pts then come back, so reversing the trade would just increase the loss. I would rather go with getting out at -100pts then waiting for the next signal.
If I get the time I might investigate a bit further.
Cheers Snip
I had already looked at Richards Special system, which is in the experimental stage. One thing I don't understand is the contradiction whereby he says:
3 If the trade is stopped out by the 100 point stop loss condition then you DO NOT REVERSE IT. You wait for the next trade to be posted.
But he is reversing and the last result was good.
I'm not sure this will prove successful every time, because looking at the data a lot of trades get to -100pts then come back, so reversing the trade would just increase the loss. I would rather go with getting out at -100pts then waiting for the next signal.
If I get the time I might investigate a bit further.
Cheers Snip
Bigbusiness
Experienced member
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I think the idea was to reverse at the close last night:-
So I think the trade should be short from 9,965. Being so close to 10,000, there has to be a chance of seeing that before the Fed meeting anouncement at 7.15pm. So I will wait and see.
So I think the trade should be short from 9,965. Being so close to 10,000, there has to be a chance of seeing that before the Fed meeting anouncement at 7.15pm. So I will wait and see.
Glenn
Experienced member
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BB - correct.
Got my knickers in a twist replying to Snip (doh !)
I'll try again.
In the new system, last night was the signal to reverse.
There was no stop-out on the previous 'new' trade, the Dow did not fall 100 points from the previous close, so it's just a reversal.
Glenn
Got my knickers in a twist replying to Snip (doh !)
I'll try again.
In the new system, last night was the signal to reverse.
There was no stop-out on the previous 'new' trade, the Dow did not fall 100 points from the previous close, so it's just a reversal.
Glenn