Hi Slane,
I am a member - on the two week trial. I have not placed any bets as yet but here are my thoughts on the site.
I don't think the site is a scam, figures are all real and the trades are all transparent; however I do have my concerns - namely:
The price stated as the entry price (for a Monday morning) is almost always the same as Fridays close. If a share gaps up or down on the Monday morning (not unusual ) then you miss the entry price. If you have set up orders to open on the Sunday night then many of them will be missed.
The opening price given is based on the spreadbetting daily price, which is fine, however, many of the trades will run for more than one day meaning that on a SB account you will have to pay a roll over charge, which is not accounted for by the trading spreadsheet he maintains.
If you open a longer term bet, say expires September, then you cannot get the same opening price and you have to adjust all your calculations to match up to the future price.
All the trades are specified to risk 2% of the trading pot - but this is based on a day trade margin. If you open a longer term bet the margin requirement is much higher and so all the figures change again.
I have not made or lost any money on this site (as yet) but I may open some positions next week , I will let you know how it goes.
Final point, last weeks positions were numerous, approximately 30. This is too many to maintain in my opinion and you would end up risking 60% of total capital if you opened each position, which is far too much. So you have to pick and choose your positions to open, meaning all the hard work is not done for you.
John
Arek Okrasa
Active member
- Messages
- 186
- Likes
- 0
Hi Johnzxr
Probably only you have teh experience about Kevin. I am thinking about joining in...but...not yet
Regards,
Arek
Probably only you have teh experience about Kevin. I am thinking about joining in...but...not yet
Regards,
Arek
Slane et al,
To add to my previous post I have noticed one other thing (on today's results) that add to slight skewing of the results.
No account is made for the spread, whilst for a trade that wins (or loses) heavily this is fair enough, Some of the results posted are claiming to have made a 2,3 or 4 points on the trade. When the bet is over £200 per point this amounts to a substantial win when infact this would have probably been absorbed by the spread.
Having said that threre are some trades that win with high point counts, these tend to be on the stocks with higher prices for obvious reasons.
To add to my previous post I have noticed one other thing (on today's results) that add to slight skewing of the results.
No account is made for the spread, whilst for a trade that wins (or loses) heavily this is fair enough, Some of the results posted are claiming to have made a 2,3 or 4 points on the trade. When the bet is over £200 per point this amounts to a substantial win when infact this would have probably been absorbed by the spread.
Having said that threre are some trades that win with high point counts, these tend to be on the stocks with higher prices for obvious reasons.
Slane,
Well that would be ideal - but if you think about it it's not really possible. For example:
Different trading platforms will offer different spreads - so which ever platform is used to factor in a spread will not be the same as everybody else so someone will have reason to complain about inaccurate spreads.
Secondly a daily trade will offer a different spread to a 3 month spread. If you only open daily positions then you will have the extra problem of factoring in roll over costs (another headache).
So for those reasons the spreads do not seem to be factored into the trades, this does however skew the results on the trades, especially those that only win with a very small margin.
To illustrate this take last weeks results.
EFM entry price 141 @ £500pp
The figures show the trade was exited at 139 for a profit of £1000. However, the spread on this stock (offered by IG Index) is 1 point, so infact the profit would have been £500 not £1000. Still not a bad profit - but exaggerated by not including the spread.
There were other trades that netted 20 points+ which are the ones to be involved in - if only you could determine which ones they were in advance!!
John
Well that would be ideal - but if you think about it it's not really possible. For example:
Different trading platforms will offer different spreads - so which ever platform is used to factor in a spread will not be the same as everybody else so someone will have reason to complain about inaccurate spreads.
Secondly a daily trade will offer a different spread to a 3 month spread. If you only open daily positions then you will have the extra problem of factoring in roll over costs (another headache).
So for those reasons the spreads do not seem to be factored into the trades, this does however skew the results on the trades, especially those that only win with a very small margin.
To illustrate this take last weeks results.
EFM entry price 141 @ £500pp
The figures show the trade was exited at 139 for a profit of £1000. However, the spread on this stock (offered by IG Index) is 1 point, so infact the profit would have been £500 not £1000. Still not a bad profit - but exaggerated by not including the spread.
There were other trades that netted 20 points+ which are the ones to be involved in - if only you could determine which ones they were in advance!!
John
May I point out that this is not a thought-free system, but is "an additional tool", requiring decisions about whether to enter, when to enter, when to move your stop, and when to take profits. Welcome to Spread Trade Insider
Most of the profit looks likely to come on the Monday, so, in effect, it is a list of suggestions for day-traders.
I am therefore puzzled by the guarantee: "If you don’t make at least £2076.88 with the information we send you, it’s free. That’s right, we have to send you trades that make X2 the cost of the information or it’s on us." It is not a set of trades he is sending but a set of trade suggestions,
Last edited:
Spread Trade Insider
Hi Guys
I hope you don’t mind but I have read the posts above with interest and would like to introduce myself.
I am the Assistant Editor for Spread Trade Insider. I work with Kevin Scott to publish his forecast of trades every week.
The original thinking behind starting STI was that Kevin sits for hours every weekend going through the markets, carrying out fundamental and technical analysis, researching the trades, and ending up with a select list of trades he wants to watch in the coming week.
Kevin has been a full time trader for over 7 years and his selection method has been fine-tuned over this time. He has always worked from his personal weekend forecast.
We at Integral Communications Ltd. figured that there must be lots of other traders out there who would like to cut out the long hours and tedious work of selecting the trades every week. So we decided to publish Kevin’s weekly forecast. It also gives beginners a head start as all they need to learn are a few basics of Financial Spread Trading without the steep learning curve of fundamental and technical analysis, charts, trends etc.
Since we started the forecast on 27 April 2008 Kevin’s results have been very impressive indeed. They are currently at 220% of his initial fund in April. Not many traders can claim those kinds of returns (or even half of it). So far Kevin hasn’t had a losing week (though I am sure it will happen some day; 4 months without one is quite something don’t you think?)
You can see the full history for yourself – just register at Spread Trading Insider Information to receive Kevin’s results every week for free for as long as you want.
With regard to the points raised in your posts I would just like to clarify the basis of the trades in Kevin’s forecast and results.
- Kevin is a day trader so all the trades are Daily Rolling trades usually entered and closed on a Monday but occasionally they roll over (at a minimal cost).
- All the trades are listed in the FTSE 350 (FTSE 100 & 250).
- All trades are quoted Mid Price – as mentioned in an earlier post every Spread Trading Company is different and will offer different spreads, terms etc.
Since we started we received feedback from our members saying that they found 20-30 trades just too many to handle.
We now list around 10 trades every week to make it more manageable.
Another new feature is that we now email members as soon as Kevin closes for the week (usually a Monday or Tuesday). Having this information to hand may help individual traders make their own decisions.
Kevin’s weekly forecast is not a mechanical system. It does require input and decision making from the trader. For example, if a trade is a few points out from the entry price in the forecast but is going in the direction of the trade then Kevin may decide to enter.
The main thing about the forecast is that it saves you valuable time researching while giving you a concentrated list of potential trades to focus on when the markets open. Many of our members now find it an invaluable tool in their trading.
Kevins track record speaks for itself. He has over £18million of clients’ funds under management – quite a testament in itself. However I received an email from one of our members the other day and thought it would be a nice way to leave you -
“I am delighted with Kevin's forecasts and they have been extremely helpful to me over the last few weeks. Additionally, the back up and support from yourself is excellent.”
Blowing my own trumpet? Well who wouldn’t?! ;-)
Hi Guys
I hope you don’t mind but I have read the posts above with interest and would like to introduce myself.
I am the Assistant Editor for Spread Trade Insider. I work with Kevin Scott to publish his forecast of trades every week.
The original thinking behind starting STI was that Kevin sits for hours every weekend going through the markets, carrying out fundamental and technical analysis, researching the trades, and ending up with a select list of trades he wants to watch in the coming week.
Kevin has been a full time trader for over 7 years and his selection method has been fine-tuned over this time. He has always worked from his personal weekend forecast.
We at Integral Communications Ltd. figured that there must be lots of other traders out there who would like to cut out the long hours and tedious work of selecting the trades every week. So we decided to publish Kevin’s weekly forecast. It also gives beginners a head start as all they need to learn are a few basics of Financial Spread Trading without the steep learning curve of fundamental and technical analysis, charts, trends etc.
Since we started the forecast on 27 April 2008 Kevin’s results have been very impressive indeed. They are currently at 220% of his initial fund in April. Not many traders can claim those kinds of returns (or even half of it). So far Kevin hasn’t had a losing week (though I am sure it will happen some day; 4 months without one is quite something don’t you think?)
You can see the full history for yourself – just register at Spread Trading Insider Information to receive Kevin’s results every week for free for as long as you want.
With regard to the points raised in your posts I would just like to clarify the basis of the trades in Kevin’s forecast and results.
- Kevin is a day trader so all the trades are Daily Rolling trades usually entered and closed on a Monday but occasionally they roll over (at a minimal cost).
- All the trades are listed in the FTSE 350 (FTSE 100 & 250).
- All trades are quoted Mid Price – as mentioned in an earlier post every Spread Trading Company is different and will offer different spreads, terms etc.
Since we started we received feedback from our members saying that they found 20-30 trades just too many to handle.
We now list around 10 trades every week to make it more manageable.
Another new feature is that we now email members as soon as Kevin closes for the week (usually a Monday or Tuesday). Having this information to hand may help individual traders make their own decisions.
Kevin’s weekly forecast is not a mechanical system. It does require input and decision making from the trader. For example, if a trade is a few points out from the entry price in the forecast but is going in the direction of the trade then Kevin may decide to enter.
The main thing about the forecast is that it saves you valuable time researching while giving you a concentrated list of potential trades to focus on when the markets open. Many of our members now find it an invaluable tool in their trading.
Kevins track record speaks for itself. He has over £18million of clients’ funds under management – quite a testament in itself. However I received an email from one of our members the other day and thought it would be a nice way to leave you -
“I am delighted with Kevin's forecasts and they have been extremely helpful to me over the last few weeks. Additionally, the back up and support from yourself is excellent.”
Blowing my own trumpet? Well who wouldn’t?! ;-)
Ciara,
Thank you for those points. They do address some of the issues. I wonder if you could help me out with this query.
You mentioned that
"All trades are quoted Mid Price – as mentioned in an earlier post every Spread Trading Company is different and will offer different spreads, terms etc."
In the first instance I appreciate it is virtually impossible to offer anything but the mid price as actual spreads will differ.
However, there are quite a number of occasions when I see trades closed out at anything from 1 to 5 pips profit. In most of these, if not all, the pip count is not even enough to clear the spread. Whilst this would not really skew any results if Kevin was trading these at £1 or £2 per pip, on many occasions I have seen these at £300 to £500 per pip.
That creates significantly skewed results, showing say £1500 profit on a trade that in reality would have been a £500 loss. When the weekly "winnings" is say £3000 that means these results are totally unrealistic.
This is the only part of the site that is "scam" like. I dont like to use the word scam as the site is not one, I was a member and it is honest. But this skewing of the results is too big to ignore.
Thank you for those points. They do address some of the issues. I wonder if you could help me out with this query.
You mentioned that
"All trades are quoted Mid Price – as mentioned in an earlier post every Spread Trading Company is different and will offer different spreads, terms etc."
In the first instance I appreciate it is virtually impossible to offer anything but the mid price as actual spreads will differ.
However, there are quite a number of occasions when I see trades closed out at anything from 1 to 5 pips profit. In most of these, if not all, the pip count is not even enough to clear the spread. Whilst this would not really skew any results if Kevin was trading these at £1 or £2 per pip, on many occasions I have seen these at £300 to £500 per pip.
That creates significantly skewed results, showing say £1500 profit on a trade that in reality would have been a £500 loss. When the weekly "winnings" is say £3000 that means these results are totally unrealistic.
This is the only part of the site that is "scam" like. I dont like to use the word scam as the site is not one, I was a member and it is honest. But this skewing of the results is too big to ignore.
Hi John
Thank you for your post and comments.
To answer your point on small movement.
When the results show movement of only 4 or 5 points this is on trades where the spread would have been much less.
Also I feel it is important to note that it is not only on profitable trades but also on losing trades.
Unfortunately I do not have the time to track forums which is why my response has taken a while. My apologies. It has also been a particularly busy week with the bank holiday on Monday.
If anyone else has any questions please email me direct and I can respond quicker.
Kind regards
Ciara
BTW what do you mean 'were' a member?
Thank you for your post and comments.
To answer your point on small movement.
When the results show movement of only 4 or 5 points this is on trades where the spread would have been much less.
Also I feel it is important to note that it is not only on profitable trades but also on losing trades.
Unfortunately I do not have the time to track forums which is why my response has taken a while. My apologies. It has also been a particularly busy week with the bank holiday on Monday.
If anyone else has any questions please email me direct and I can respond quicker.
Kind regards
Ciara
BTW what do you mean 'were' a member?
When the results show movement of only 4 or 5 points this is on trades where the spread would have been much less.
Simply not true, I trade across three platforms (IGIndex, CMCMarkets, Cityindex) and I checked spreads on all three to see if it was possible to profit on these "small" wins. In every case, the win was inside the spread.
It seems strange to me that you claim to only be able to provide mid prices for your trades (as the various platforms all quote different spreads) and yet by the same token you can claim the the low pip count wins are infact wins. How do you monitor this? On which platform? How are you able to monitor the spreads on these trades, but not on the rest?
It doesnt make sense, and what doesnt make sense is usually nonsense.
Simply not true, I trade across three platforms (IGIndex, CMCMarkets, Cityindex) and I checked spreads on all three to see if it was possible to profit on these "small" wins. In every case, the win was inside the spread.
It seems strange to me that you claim to only be able to provide mid prices for your trades (as the various platforms all quote different spreads) and yet by the same token you can claim the the low pip count wins are infact wins. How do you monitor this? On which platform? How are you able to monitor the spreads on these trades, but not on the rest?
It doesnt make sense, and what doesnt make sense is usually nonsense.
Hi johnzxr,
You are correct. On the 'previous results' page on the spreadtradeinsider website when you look close at some of the weeks results there are certain trades which show gains of 2,3 or 4 points. I have personally looked at the trade results on STI and checked what the spread with IG is on the daily rolling cash price for the trades which claim 2-3 point wins, and these stocks do have tight spreads but still at least a >1 point spread, as you say it is not possible even with tight 1-2 point spreads to make a profit of 2,3 or 4 points, when the mid to mid price is only 2,3 or 4 points!
This will change the results especially on a week without much profit. It is a shame as some of the other trades are brilliant, there is some good research into the forecasts. The site is definitely not a scam and Kevin Scott is a pro and a profitable trader with long term success, he manages millions for clients.
I dont know what the solution is, maybe STI should display actual entry and exit prices for the trades. Including spread and slippage. Which would show accurate P&L with the broker they use.
Regards.
You are correct. On the 'previous results' page on the spreadtradeinsider website when you look close at some of the weeks results there are certain trades which show gains of 2,3 or 4 points. I have personally looked at the trade results on STI and checked what the spread with IG is on the daily rolling cash price for the trades which claim 2-3 point wins, and these stocks do have tight spreads but still at least a >1 point spread, as you say it is not possible even with tight 1-2 point spreads to make a profit of 2,3 or 4 points, when the mid to mid price is only 2,3 or 4 points!
This will change the results especially on a week without much profit. It is a shame as some of the other trades are brilliant, there is some good research into the forecasts. The site is definitely not a scam and Kevin Scott is a pro and a profitable trader with long term success, he manages millions for clients.
I dont know what the solution is, maybe STI should display actual entry and exit prices for the trades. Including spread and slippage. Which would show accurate P&L with the broker they use.
Regards.
I take all the points made, and agree also would like to see a photostat of e.g. a sample old week of a trading account, but what I find interesting are:
1. there is a decent clutch of testimonials by actual subscribers.
2. it is rare to see a trading tipster disclose their list of trades so fully that we have a real impression of the trades taken, and can examine in detail for ourselves whether we would have been able to enter at the claimed entry price and how we might have fared after entry
3. there seem to be a variety of TA setups used, and the most intriguing is Kevin's interpretation of the hook-shaped long bar reversal (on daily chart) as a corrective pattern rather than as the usual reversal pattern bullish breakaway candlestick
4. the variety of TA setups (about 3 main ones on a daily chart I think and probably many others on the intraday, which I did not look at) and mix of longs and shorts avoids all eggs in one basket, so there should always be a few winning shares to counteract any losers. This explains the good record of no losing weeks.
However, if it all went against you, with capital e.g. at the suggested £50k and stops at the suggested £1,000 each, 10 losers wipes out 20% of capital, so one bad week wipes out several weeks' moderate profits. By constant attention and skill, no doubt Kevin can reduce that % loss, but I doubt less skilled subscribers would be able to do so.
This product is obviously thought-provoking, as can be seen by the discussion generated. It is in the same field as Alan Rich's similar-price-range UK Swing Trader Clickthemarkets.com - Click The Markets with the Friday-night discussion of shares to watch and the periodic emails in the days afterward (it is oriented at the mid and small caps rather than at the FTSE 350), but I do wonder if any sort of fast-trading offering can be done without rapid email updates or a liveroom, which are a nuisance for the organiser.
1. there is a decent clutch of testimonials by actual subscribers.
2. it is rare to see a trading tipster disclose their list of trades so fully that we have a real impression of the trades taken, and can examine in detail for ourselves whether we would have been able to enter at the claimed entry price and how we might have fared after entry
3. there seem to be a variety of TA setups used, and the most intriguing is Kevin's interpretation of the hook-shaped long bar reversal (on daily chart) as a corrective pattern rather than as the usual reversal pattern bullish breakaway candlestick
4. the variety of TA setups (about 3 main ones on a daily chart I think and probably many others on the intraday, which I did not look at) and mix of longs and shorts avoids all eggs in one basket, so there should always be a few winning shares to counteract any losers. This explains the good record of no losing weeks.
However, if it all went against you, with capital e.g. at the suggested £50k and stops at the suggested £1,000 each, 10 losers wipes out 20% of capital, so one bad week wipes out several weeks' moderate profits. By constant attention and skill, no doubt Kevin can reduce that % loss, but I doubt less skilled subscribers would be able to do so.
This product is obviously thought-provoking, as can be seen by the discussion generated. It is in the same field as Alan Rich's similar-price-range UK Swing Trader Clickthemarkets.com - Click The Markets with the Friday-night discussion of shares to watch and the periodic emails in the days afterward (it is oriented at the mid and small caps rather than at the FTSE 350), but I do wonder if any sort of fast-trading offering can be done without rapid email updates or a liveroom, which are a nuisance for the organiser.
Last edited:
I was a subsciber. followed the trades religiously for several weeks and failed to make any money (in fact lost money), despite watching my trading/risk/etc. In the meantime, Kevin was reporting profits - I think he was taking an idealied view of the trades. I firmly believe that, after over 3 months of watching and trading, it is not possible to make consistent profits using SBI's suggested trades.
Hi all, i think spreadtradeinsider has been finished probably because of the reasons discussed in this thread (i do think kevin scott is a profitable trader, but i wasnt sure about the spreads etc..)
Anyway there is a new similar service called spreadtraderpro.co.uk and this looks a little more suited to longer term trades. It seems to be run by exactly the same people as STI but this time with a new trader called Al Silverstein, i have never heard of him. But rather than waiting for fast intraday trades where spreads are an issue it gives late evening signals which can be placed as orders and maybe left for days or weeks to mature, moving your stop to lock in profit on the winning trades and cutting losers early. All sounds good but then again STI sounded good!
I was just wondering do any of you know about this new service as the results look decent and it sounds like a stress free way to trade? Or know about Al Silverstein? They are also offering a free trial so I may sign up and have a look myself but its good to hear from other traders sometimes before trading any money.
Anyway there is a new similar service called spreadtraderpro.co.uk and this looks a little more suited to longer term trades. It seems to be run by exactly the same people as STI but this time with a new trader called Al Silverstein, i have never heard of him. But rather than waiting for fast intraday trades where spreads are an issue it gives late evening signals which can be placed as orders and maybe left for days or weeks to mature, moving your stop to lock in profit on the winning trades and cutting losers early. All sounds good but then again STI sounded good!
I was just wondering do any of you know about this new service as the results look decent and it sounds like a stress free way to trade? Or know about Al Silverstein? They are also offering a free trial so I may sign up and have a look myself but its good to hear from other traders sometimes before trading any money.
