Can you really say "it works" when you`ve only had the system for about a month? How many trades has it triggered? What are the results in terms of %ge profitable trades, average profit/loss, max. drawdown, etc.? Are you selling traded options like Protrader`s site suggests, or placing spreadbets for which they state the accuracy drops from 98% to 73%?
It may well work but you are going to lose a lot of sleep, just do the math
Firstly key phrase in the results "Should have "
Secondly you will need a very large account to trade this system anyone can have a large %winning system with 500 to 1,000 point stop loss just look at the drawdowns £6,390 and £11,000 for the dow systems
Lastly the guarantee is worthless unless you trade every buy and sell signal for 12 months, my guess is if you had a large loss over 3 months you would doubt the system and not trade the signals
Exactly dc2000. I bought MetaStock Pro a few weeks ago and have been busying myself backtesting their standard systems. The results looked pretty good at first glance, but when I took a look at the individual trades in detail some of them had 7000+ dollar losses before they ended up in the black. So in order to get the $1000+ profit you had to sit tight through hellish losses time and time again without knowing at the time if it was going to turn around or end up with a great big draw down.
I checked out the systems before I tested them and thought it was very strange that they didn't have any stop losses of any kind in place. When I went through the best performing systems and enforced 5% stop losses on them, the performance fell through the floor!
Any system that requires you to have massive losses before coming out in profit is a BAD system!! It looks good on the surface, but just take a closer look at the details of the orders and you will not want to sit through that!! The past is 20/20 vision, but the future... you could blow out before your trades turned around!
Has anyone bought and used any of the ProTrader trading software i.e. Dow weekly; Dow monthly; FTSE weekly/monthly; S&P daily? I am intersted to know whether the monetary gains made by the Protrader people for each system is fact or fiction. For example, based on historical research, the Dow weekly, it is claimed, makes on average between £2000 and £3000/month (about a 70% success rate). Whilst the FTSE system is calaimed to have a 98% success rate on its trades.
70% success on Dow, 98% success on FTSE.
If I had developed a piece of software that was that good, I would be trading it from my yacht in the Caribbean, not trying to sell it for -how much is it - £200, £300 ??
Not being cynical, but think about what they are saying.