Simple trading system (that works)

[DashRiprock]

looks to me that most people on this site have it in their minds that trading 5m fx on metatrader 4 is a path to riches, and it aint. and if you point that out you get flamed.

without exception all the short term traders I know use tape reading in one way or another. but that doesn't really translate well on to a trading websites / really any form of text. the only other stuff is things like opening types and volume histograms I spose, but frankly there is nothing to say on those that hasn't already been said.

making a post about something you saw on the tape would require a significant amount of effort and is categorically impossible to do in real time. And there is no real incentive to do it anyway, the incentive is the profit from the trade which has already been and gone.

So what else is there other than lulz?

 

[Splitlink]

I just can't be arsed to explain a thousand times how I a) monitor context, b) pick a bias, and then c) trade the order flow. That is pretty much my entire strategy, bar a few "special" cases.

Oh, come on. Go for the 1001.

The "special" cases. They are the ones we want to hear about and they nearly always crop up when (a), (b) and (c) don't work.

 

[Pazienza]

There's a lot of fair points made in this thread on both sides.

In the end, T2W isn't a bad place - there is a lot of helpful stuff here, and for what it's worth I think the staff / mods do a perfectly good job.

The Hare mentioned newbies and their silly expectations, and this is spot on. But ultimately, they have to experience the downside to learn how wrong these delusions are. No amount of telling will help the bright-eyed new "forex trader".

 

[Mark Rose]

Im fairly certain that this same company has used similar tactics in the past, although I've never actually seen them complete what they started. I appologise if I'm mixing them up with another company with a similar name.

What was rather worrying, is that in the process of searching a couple of forums to verify my suspicions, I've seen the exact same post made at T2W posted on a number of sites that seamed to be aimed at your typical get rich quick mug punter.

Its perhaps not the most sensible strategy if the intended market is traders, but a great strategy if you want to con a few hundred bucks from a bunch of gullible ***** (which is fine by me, they deserve it and good luck to the guy !)

With respect to your comment, you are getting us confused with somebody else. This is the first time that we (as a company) have posted on this forum. And you are correct, we will be doing this thread on a number of other trading forums, frequented by beginner traders. That was the whole aim of this post, to introduce a simple trading system and explain optimisation options and modification to beginner traders. Before you accuse us of immoral conduct please do your research.

 

[arabianights]

Mark,

Out of interest, why are you doing this? Out of the goodness of your heart?

 

[Liquid validity]

From where I'm standing there is useful info here if you look for it.

TBH the biggest thing I've noticed is the apparent lack of vetting for vendors.
That not only makes it a minefield for anyone wanting to use the services of a vendor with a
questionable pedigree, it also reflects on any vendors who maybe have something to offer as well.

Serious question, I don't suppose a T2W vendor has to be FSA registered do they due to introducer exclusion or some such loophole?
http://www.fsa.gov.uk/pages/Doing/Do/index.shtml

That simple point alone is the main reason, I feel, that obviously knowledgeable members
resort to lulz in an attempt to out dubious quality vendors as there is simply no other recourse for
protecting the unwitting from scammers.
I apologise if this post is at odds with T2W policy or causes offence in any way.
Its merely my observation, and not aimed at any specific vendor or individual, and certainly not at the OP.

 

[arabianights]

Indeed... almost all vendors are not in a position where they have to be FSA registered. The ones that do frankly don't **** around on web forums looking for suckers.

It is often said by these vendors that they don't have to, or indeed it's impossible for them to be registered with the FSA. Well... the former is true except with the most blatant. The latter simply isn't, except with pure training (and I'll come to that in a moment). You're an idiot to deal with a prop house that isn't FSA (or similar) registered... if only because there's no other way of dealing with a clearing member (and your really should deal with a clearing member)

As for pure training... there are legit pure training firms. I don't know of any that advertise on web forums... I also don't know of any that aim at beginner traders. I only know of ones who take on existing traders (and other staff) on behalf of other legit firms outsourcing some of their training.

Only time where that could POSSIBLY make sense is if it's an individual doing it. Some claim that there are a few of these... I ain't seen it.

 

[Liquid validity]

pretty much what I thought.

 

[Mark Rose]

Arabian,

We have two reasons for doing this. We are system developers and we want to make the trading community aware of our brand. We are a new player on the scene and we genuinely believe that we have some great products to provide to traders. The second, as I explained in my post, is a desire to share some of the knowledge that we have gained while trading and developing systems. Why does anybody share knowledge? Why do you, for that matter? For us, it is being a part of a wider trading community. If people read our posts and buy our systems, great. If they read our posts and learn something useful, that helps them trade better, also great.

I'm not going to say that we do this only because we want to help our fellow traders, because that would be BS and people would see through it. But getting some useful knowledge out there is certainly a part of our motivation.

 

[arabianights]

Why do you target your systems at retail traders? It is infinitely more sensible to, at the very least, sell them onto hedge funds.

Retail traders are basically a nuisance

 

[Mark Rose]

I agree with you, it would be more profitable (and perhaps less complicated) to target hedge funds and we are certainly not excluding marketing to hedge funds somewhere down the line. The main reason is that we started as retail traders, and we feel that we understand the needs of this particular market better than we would those of hedge funds.

 

[monotonetuba]

"mentally challenged parrot"...LMAO now thats funny
images of monty python!

 

[arabianights]

I agree with you, it would be more profitable (and perhaps less complicated) to target hedge funds and we are certainly not excluding marketing to hedge funds somewhere down the line. The main reason is that we started as retail traders, and we feel that we understand the needs of this particular market better than we would those of hedge funds.

The "needs" of retail "traders" is to pay for the nearest shiny thing

Which is basically the same in hedge funds tbh. I suggest you move straight on to them!

 

[DashRiprock]

what a loads of balls. Bals balls balls.

Your systems are limited to 300 customers and go for $220 a pop (namely alpha 1 & 2) foe eur/usd and beta 1 & 2 for the spoos.

And it says on your website that you do consult hedge funds. Bulsh1t all over, I spose you just want to give something back to the little guy.

Plonker!

 

[Mark Rose]

It does say consult yes, because we have consulted on matters relating to system design. I have several good friends who operate hedge funds and we have helped them out in the past. It was these friends who initially got me interested in trading, after which I focused on system design. However to date, we haven't sold them any systems. Everything on the website is true.

Once again Dash, you resort to genitalia references. This isn’t surprising at all. You need to work on your material; this is getting a tad old.

 

[c0py]

Mark,

Did you develop Daily Index Trader or were you involved in this system?

 

[Mark Rose]

No, I'm not familiar with this system sorry.

 

[DashRiprock]

It does say consult yes, because we have consulted on matters relating to system design. I have several good friends who operate hedge funds and we have helped them out in the past. It was these friends who initially got me interested in trading, after which I focused on system design. However to date, we haven't sold them any systems. Everything on the website is true.

Once again Dash, you resort to genitalia references. This isn’t surprising at all. You need to work on your material; this is getting a tad old.

 

[Pazienza]

Great post my friend, great post .

 

[Pazienza]

look I am only here until 1/05/2011 (for various reasons).

Don't give up hope Dash, we've got our best guys working on the appeal.

The lawyers are going to argue that the goat was a consenting adullt, and that it's not "indecent exposure" it's "naturism" (even if it was in Tesco's at 4.30 on a Saturday afternoon).

Failing that, f*ck it, we can always whack a juror .