Ray Chong

[thomas]

Hi
I'm new to spreadbetting and as of yet only really paper traded. I signed up to al the news letters etc and read a few books. However one guy keeps e-mailing me - Ray Chong- about his great system. Has anyone tried or heard about this system.


Regards
Tom

 

[Ingenerio]

Tom,
He is probably touting a 'mechanical' trading system (aka blackbox) which is basically a preprogrammed software package designed to filter stocks based upon a few criteria such as moving average, MACD etc. He probably says that the system has been backtested and has shown to be 100% successful but the major problem is that the markets move forward and not backwards.
I too was attracted by these systems during my first forays into trading but luckily I have stayed away from these and concentrated on learning (and still learning) to apply the technical analysis tools learnt from books such as 'Murphy' and 'Come into my trading room' . I have had success and failure but I have always learnt from my trades as I have had to make the decisions not the system.

I hope this helps but it is only my opinion and limited experience

James

 

[growltiger]

Archive information

Hi
I'm new to spreadbetting and as of yet only really paper traded. I signed up to al the news letters etc and read a few books. However one guy keeps e-mailing me - Ray Chong- about his great system. Has anyone tried or heard about this system.


Regards
Tom

I just looked through some old emails, and found three from this "sender". They tell you that you have to have a system with an edge, execute it correctly (but not expect each and every trade to be successful) and that the way successful traders turn the correct execution of a system with a small edge into a large account is to "pyramid" trading units as a successful trade progresses, and to shed units with a trailing stop. There is nothing wrong with this, so far as it goes.

I think that at the time I accumulated these emails the objective was to sell an e-book that contained the elements of a system. Needless to say, I do not have the ebook....

 

[DaveJB]

Cynicism is appropriate when considering trading and trading systems - in fact cynicism is the only tool you need apply 100% of the time in TA IMO <g>
If the guy keeps mailing you forget it - anybody selling anything really good doesn't need to go about it like a double glazing salesman.
Dave

 

[John Cyprus]

I had purchased something from RC last year sometime and to be honest it's something to keep away from. Useless.

 

[thomas]

Thanks to all ur replies. Definitly will avoid this guy.

 

[tradertim]

I tried his "Market Millions" strategy last year, as it had a 90 day money back guarantee, but found it was just a slightly altered version of the well known Turtles trading strategy. You can view this for free at www.originalturtles.org .

 

[thomas]

Turtle Traders

I tried his "Market Millions" strategy last year, as it had a 90 day money back guarantee, but found it was just a slightly altered version of the well known Turtles trading strategy. You can view this for free at www.originalturtles.org .

Thanks for the link. I read this and was wondering has/does anyone use this system ?

 

[tradertim]

I believe the Turtles strategy is not widely used, as the win/loss ratio is poor and it requires considerable discipline/patience to follow all of its rules.

 

[virshah]

Market-millions

Hi I have heard market-millions teaches you trade fo longer term,does any one has it can Pass to me .I want to trade a long period,enough of short trading.
virshah