Monika Korzec's MMTS trading system

[ES_Trader_USA]

I recently got an email from a close source about a trading system that is out there to trade the FX. I have not purchased it . Its $95 and provides 3-4 specific methods to trade FX.

Here is the website:
http://www.mmts.4xtraders.co.uk/


I would be very much interested to find out from someone who has had hands on experience using this system, since the video http://www.4xtraders.co.uk/videos/mmts/mmts.html seems very professional.

Kindly post your experience with this system(s) for all of us.

Thanks.

 

[pssonice]

strange website

"Your browser does not support Javascript. You may want to consider upgrading to the latest version of Microsoft Internet Explore, Netscape Communicator, AOL, Mozilla, or browser of your choice. Thanks!"

 

[adheerp]

I recently got an email from a close source about a trading system that is out there to trade the FX. I have not purchased it . Its $95 and provides 3-4 specific methods to trade FX.

Here is the website:
http://www.mmts.4xtraders.co.uk/


I would be very much interested to find out from someone who has had hands on experience using this system, since the video http://www.4xtraders.co.uk/videos/mmts/mmts.html seems very professional.

Kindly post your experience with this system(s) for all of us.

Thanks.

This is the first time I hear of Monika Korzec.
The website does not look professional - just one page and a order form.
Does not even have a contact e-mail ID or a phone number.

Suspicious - stay away!

 

[vimkar]

This is the first time I hear of Monika Korzec.
The website does not look professional - just one page and a order form.
Does not even have a contact e-mail ID or a phone number.

Suspicious - stay away!

i agree

 

[swandro]

Before you rule her out completely, I have come across this name at http://www.fibonaccitrader.com/ I have a lot of respect for FibTrader and Krausz who originally created it. Also I have huge respect for Frank Dilernia who is also referenced at this site, and his material is definitely worth looking at. Other than that, I know nothing about her. All I am saying is - if the guys at Fib Trader think she is OK, then she MIGHT be worth a look.

 

[supertrader05]

I purchased the system, as I first came across her methods from forexmentor.com. There is an original way of trading the new york opening at 13:30. Simple but effective. The one that really got me going was the London open. I backtested about 30 trades and found it to be excellent. Ive made a few tweaks and use a 40 pip stop, 40 pip target, move to breakeven after 20 pips. This seems to work very well and I tested it live today and made 40 pips. From her results for 2005, it has an 80% win:lose ratio. It's well worth the money, an original and different idea.

 

[JillyB]

I don't often do this - in fact I've never in my trading life done this before - but I thought what the hell! It costs £51, lets have a look.

I'll say now that I only came by this, due to this thread and I've nothing at all to do with Monika - those that know me, will already be aware of this.

I have to say that I'm impressed. The e-book is well set out and it covers 4 different methods of trading - MKS trendlines , London Open, US News, and 1 pip candle trades. She uses 15 min charts and the set-ups are quite easy to understand and well explained.

I've randomly tested them over the last six months of data and they really do seem to have the success rate Monika talks about and this pips are there as she suggests.

So far I like what I've read and I will be trying it out on Monday.

 

[DESKPRO]

Her stop loss is bigger than her targets...is the risk is bigger than the reward..can that be a good system even if the expectancy is good..only takes a few loses to start performing badly

 

[JillyB]

Her stop loss is bigger than her targets...is the risk is bigger than the reward..can that be a good system even if the expectancy is good..only takes a few loses to start performing badly

That's true her stop loss is bigger than her target. I have the same thing with the Dow method I use, my stop loss can sometimes be twice my target. But when the win rate is very high this can still work.

Say you have an 80% win rate - that means that 1 in 5 trades will fail.
Say you have a target for each trade of 20 pips and a stop loss of 50 pips.
This means that you will make 80 pips from the 4 winning trades and 1 50 pip loss, which still gives you a net profit of 30 pips.

With Monikas system she has different stop loss values for the different types of trade, but they are never as bad as the ratio I have shown above. Typically on the MKS trendlines she has a 15 pip target and a 30 pip stop loss. Put this into the equation above and you still get a 30 pip profit after 5 trades.

These are not bad results for a mechanically traded system. You could set this up and go to work and leave it to trade. However if you are trading and watching the screen, then you can make a lot more than 15 pips on most trades. The key is to lock in the profits and if it's going in your direction then let it run.

The one system that I've randomly tested and that I'm not overly happy with the win-ratio is the 1 pip candle method. This does seem to give a number of losing trades. Its the MKS trendlines that really interest me, they seem to generate very good trades with good profits.

 

[DESKPRO]

"This means that you will make 80 pips from the 4 winning trades and 1 50 pip loss, which still gives you a net profit of 30 pips."



Or 2 x 50 pip losses to give you net loss of 20 pips...I take your point about expectancy is a factor as is the risk:reward ratio....keep us updated on how it performs...

 

[JillyB]

I'm testing it at the MKS Trendline system at moment, but I'm tweaking the system as well to suit me, so the results aren't going to reflect Monikas true system. That isn't to say that it doesn't work - far from it - it's just that I'm not ususally in the land of the living at 5.30am, so I'm giving these trades a miss, which means I'm not now testing the full system.

I've also put time targets on trades (primarily to stop me getting out of the trade too soon). So for the trades entered at 8.30am I've found an optimum exit time of 9.45am. (Not 8.38am - as I'd probably like to do! )

I've also found that entering the trades 1 candle (15 minutes) after Monika suggests usually improves the pip result.

But so far I've got an average weekly pip rate of just under 225. That's going back as far as week commencing 17 July - which is all my 15 min chart will give me.

The worst day yielded +7 pips and the best day yeilded +132 pips.

It's not much as far as back-testing goes, I'm aware of that. But it's encouraging.

Also this is only one of the 4 strategies that are in the e-book. The US News and UK open look more complex - apart for the Non-Farm Payroll day - which is a no-brainer (so easy)!

It's just gives me more trading techniques on the Forex - which I've always found difficult. I've now got the MKS trendline system to add to my '1 hour inside candle bollinger turn trade' - which seems to do well too. So between them I can hopefully make a few pips here and there.

 

[lingzhi]

i got the ebook as well, currently testing it...the london open trades do look interesting, lots of winners. the trendline method is another one that is doing decently. that said, anyone on a budget can have my copy for 1/2 the price through pm. live long and trade well..peace...

 

[toto21]

monica techniques

I purchased long time ago this ebook, and all I have to said is beatifull words, I trade the london open the newyork news and the one pipe candle stategy , of all of them I change the risk- reward and on the last one I put a filter to select the trades, like suggests with an stochastic, I put a combination of RSi and MACD, but in essence I trade very similar to original system, for me was a surprise this system and thanks to Monica, I wait for the update of this package, she said she will come with new strategies

 

[blewoutmyaccount]

looked at the website and the video...interesting
specialy the mks trendline method
like all i have spend lot of money on books and systems...so can anybody be this nice and just tell me what the 4 times are to use the mks trendline....
will be very pleased if somebody did

just take a look at my nick.....i hope it says enough

 

[Doctor Leo]

That's true her stop loss is bigger than her target. I have the same thing with the Dow method I use, my stop loss can sometimes be twice my target. But when the win rate is very high this can still work.

Look, this might work and to be honest some of the patterns I trade do have stop-loss larger than profit targets. But now let's come down to real figures. What is 15 or 20 pips in today's FX market? Of course, it depends on the instrument, say, it might be an OK target for aussie or any other low-volatile pair, but it's near to market noise for euro and chief and it's really nothing for cable. Hell, 20 pips for cable! Who remembers the cable movement at NFP in July, eh? 20 pips?? Right, you may say I'm now pointing out some extreme situations. Well, just have a look on the same cable during last week. Each day it dropped for another figure, but its volatility before each drop-down exceeded those damn 20 pips. Now, to come to the point: working with such small targets only makes sense with tight, extremely tight stops. And then this behaviour would be called scalping. If you target 20 pips risking 50 or more this is the straight road to hell.
If you had stop-loss/profit target ratio but with targets of about a figure, it surprisingly would make sense, but it's quite another matter...

 

[kimhyonchol]

How long have been trading this method?

I purchased long time ago this ebook, and all I have to said is beatifull words, I trade the london open the newyork news and the one pipe candle stategy , of all of them I change the risk- reward and on the last one I put a filter to select the trades, like suggests with an stochastic, I put a combination of RSi and MACD, but in essence I trade very similar to original system, for me was a surprise this system and thanks to Monica, I wait for the update of this package, she said she will come with new strategies

I just learned about the system. Can you tell me how long you have been using the system? She mentioned 5 different methods. What is your favorite system and why? Thanks.

 

[dasorr]

I´m quite confused:

At http://www.korzec.ca/chat/MMTS2.htm Monika mentions for year 2005 3,170 Pips (Gross, spread cost included in the number) for the London opening system. If this is gross and there are let´s say 4 trades each trading day in GBP/USD with 4 pips spread, then the spread alone makes 4800 pips per year which amounts to a year loss of 1630

Furthermore, the US session would be untradable according to year´s 2005 result of 1713 pips (mechanic entry/exit) and 3304 pips (mechanic entry/exit with technical indicators) considering at least 4800 pips of spread....

Am I that stupid?

 

[dasorr]

@JillyB

do you have any further results with monika´s methods?

 

[thruline]

If spread cost is included in her results, no need to add it in again... I've seen the book, these are useful techniques that traders will need to adapt to their own trading styles.

 

[iezcha]

any have this indicators ???