Paul Williams "Spread Trading Secrets"

ronvegas

Newbie
7 0
Hi,

I'm trying to find a reliable, profitable way of trading (as I'm sure we all are!)

I've bought systems such as Star Trader (no money made using it yet).....cost £6000! or £600 per year

Books like CT & CTA...Good read, but all a bit too ambiguous and time consuming ! Currently, I still need to work FT....

So, I'm looking into buying this Paul Williams book from spreadtradingsecrets.com

As anyone had any success with it ?

Thanks
 

PitBull

Established member
620 58
Hi Ron

Yes I have purchased this, but you can only really use this method effectively with big enough capital £10,000 +. The reason for this is because of the stake sizing method (3ATR = average true range * 3) and the big stops needed to avoid being whipsawed.
 

darrenf

Well-known member
481 3
Of any of the books from "vendors" of systems I have bought, this was the best value and most informative of all.

It details in every aspect the authors full EOD trading system which can be taken off the page and used to trade. Alternatively, you can develop your own system from it.

I agree that at least 10,000 is required in order to make the stop levels fit within the maximum loss per trade. However, it is an excellent starting point and if you have less capital than this, you can use the info to devise a similar system over shorter timescales.

I would recommend it.
 

ronvegas

Newbie
7 0
hi darren

10,000 seems alot to have as a capital base, im not to sure on the finer points of stops etc.

what does that exactly mean ? and how much per trade can i lose with that amount of capital...?

using the exact text book version of the system, have you made any decent gains?

thanks.......

what if anything, do you know about CFTR Goldbars system

Cheers

Ron
 

darrenf

Well-known member
481 3
I don't think it's giving too much away to say that the system works on the basis of risking a max o f2% of capital on any one trade.

This means that the position size, combined with the required stop level should comply with this 2% rule. With a £10,000 account, this means £200 per trade.

If you start with £5000, then the max risk is therefore £100. However, the nature of the system means that even with minimum trade sizes, you exceed the 2% rule. Therefore, you can still trade the system but with lower starting capital you risk pretty big equity drawdowns.

I can't really go into any detail of the system as it is copyrighted and I don't want to get sued. Also it would't be fair to other purchasers to see the system they have paid for scrawled across a bulletin board.

However, I can say that I decided not to trade the text book system as it stands as I did not have sufficient capital and was not comfortable with potential drawdowns. I have taken parts of it though and used it in my own system.

It is relatively easy to see by looking at charts that the system should produce profits and I was happy with this aspect.

Although I chose not to use the system in it's text book form, I would still endorse it as a worthwile purchase as it explains the whole system in full detail, particularly money management aspects which I found very useful.

Finally, I think you will find some other threads on the gold bars system on this site if you do a search. Unfortunately, I think the concensus opinion was very negative.
 

darrenf

Well-known member
481 3
Have just remembered, a member on here called carnivore was using the sts method succesfully although he hasn't posted for a while as I recall.

It may be worth dropping him a PM
 

orchard

Active member
163 2
I can thoroughly endorse what DarrenF said. I have operated the spreadsecrets system for about 5/6 weeks on shares, but have very limited capital was not successful. I was stooped (freudian error, meant stopped) out on nearly all my trades and made losses on all but 2.

This is not the fault of the system, I don't believe, but it is very hard to do with limited capital.
 

richardcartieruk

Junior member
13 0
Hi,

I'm trying to find a reliable, profitable way of trading (as I'm sure we all are!)

I've bought systems such as Star Trader (no money made using it yet).....cost £6000! or £600 per year

Books like CT & CTA...Good read, but all a bit too ambiguous and time consuming ! Currently, I still need to work FT....

So, I'm looking into buying this Paul Williams book from spreadtradingsecrets.com

As anyone had any success with it ?

Thanks
Hi Paul,

What are the books 'CT' & CTA?

Regards

Richardcartieruk@yahoo.co.uk
 
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