Spencer2052
Newbie
- Messages
- 1
- Likes
- 0
I have been using Tradewin for a year now, I struggled initially as I was never in front of a P.C during the day and this ment I was entering trades too late and exiting them too late. Since they have introduced SMS alerts, I have found the system profitable, on receiving the alert a quick calculation is required followed by a call to my spread betting company and all is done. I feel it is £4000 well spent as I'd never have the time to analyse the markets myself.
I have been using TradeWin for only a matter of weeks and have experienced both profits and losses in a total of 8 trades. With a starting bank of £3,000 my biggest loss has been £166 and my biggest profit £146. Overall, I am down a total of £260 - £152 of that coming in a full stop loss yesterday. It is far too early for my experiences to give anyone an indication of the legitimacy of the system, I merely wanted to contribute to this thread and I would have no problem posting updates again some time in the future.
I am completely new to spread betting, and I've never bought nor sold a share in my life. I find the system very easy to follow, but I would warn that a complete novice should be very careful as the losses are going to take a lot of getting used to. Hence the fact I am awake at 5am. That's not a reflection on the system, merely me as a human being with no previous experience of trading.
A lot of people have criticised Jeran, well I can't say anything against him as yet and I can say that when I became a member full contact details were given for a guy named Bob Netherway who seems to be the full-time trader behind the system. I have found him very helpful on the telephone and he was able to help me when I made a mistake with a trade.
£3,995 is a lot of money for someone like me to spend on this system, but I've done it now and I can guarantee you'll get the truth on this board about what I encounter. Hopefully it will be a bit more positive in future.
PS I too use the SMS alerts, which provide a lot of freedom and I think anyone would be crazy not to have them. It takes away the need to sit in front of the PC and wait for an alert all day long - which is 8 am to 9 pm with both the UK and the US markets supported.
I am completely new to spread betting, and I've never bought nor sold a share in my life. I find the system very easy to follow, but I would warn that a complete novice should be very careful as the losses are going to take a lot of getting used to. Hence the fact I am awake at 5am. That's not a reflection on the system, merely me as a human being with no previous experience of trading.
A lot of people have criticised Jeran, well I can't say anything against him as yet and I can say that when I became a member full contact details were given for a guy named Bob Netherway who seems to be the full-time trader behind the system. I have found him very helpful on the telephone and he was able to help me when I made a mistake with a trade.
£3,995 is a lot of money for someone like me to spend on this system, but I've done it now and I can guarantee you'll get the truth on this board about what I encounter. Hopefully it will be a bit more positive in future.
PS I too use the SMS alerts, which provide a lot of freedom and I think anyone would be crazy not to have them. It takes away the need to sit in front of the PC and wait for an alert all day long - which is 8 am to 9 pm with both the UK and the US markets supported.
stevespray
Experienced member
- Messages
- 1,289
- Likes
- 156
Antelope....
Good input - thanks for sharing your experiences.
Looking at your situation from the position of a more experienced trader I would make a few observations. Firstly, most of what you have written are things as you see them from a phsycological perspective. You are however largely correct in what you have written with respect to having to get used to losses. For me this is the most inportant point which you make in your post. This will largely dictate how successful you are in implimenting the overall system since a string of losses, even small losses, can cause certain types to start second guessing the system and stop taking the trades. Of course, when this happeneds, you end up missing the big winner which makes the whole thing profitable. Most swing trade systems require the market to trend somewhat to make any reasonable profit. At the moment, (ie within the month or so you have been implimenting the system) even though we made some new highs, the market is whipping around a fair bit in a kind of sideways or 'range' market which can cause problems for swing trades as the underlying market will often dictate the overall direction of share prices. I think you will find that, with this kind of system (and the firms trading results appear to back this up), you will get a series of trades which result in a number of gains and a number of losses which will about balance each other out - the profits come from odd one or two which turn into big winners. Your present draw down (ie the £260 which you are in overall loss) represents the 'costs' of speculation - ie the cost of being in the market and in a position where you might profit from a relevant market move in a particular stock.
If the 'costs' are too much and you are genuinely losing sleep of the matter then maybe you should consider a smaller position size. Part of learning to trade is understanding yourself. When unpleasant things happen, like a series of losing trades, your subconcious will associate the event with something which you similarly experienced before you started trading. As a result you will react in the manner which relates to your 'similar experience' rather than the way which is correct for the trading scenario - it is this that you must learn to control and understand. This is where your trading plan (if you made one) should help as this question you will have asked yourself already. Many people dont start with a trading plan as they dont understand things which they have not yet encountered. I would suggest that prehaps you investigate a trading plan.
Steve.
Good input - thanks for sharing your experiences.
Looking at your situation from the position of a more experienced trader I would make a few observations. Firstly, most of what you have written are things as you see them from a phsycological perspective. You are however largely correct in what you have written with respect to having to get used to losses. For me this is the most inportant point which you make in your post. This will largely dictate how successful you are in implimenting the overall system since a string of losses, even small losses, can cause certain types to start second guessing the system and stop taking the trades. Of course, when this happeneds, you end up missing the big winner which makes the whole thing profitable. Most swing trade systems require the market to trend somewhat to make any reasonable profit. At the moment, (ie within the month or so you have been implimenting the system) even though we made some new highs, the market is whipping around a fair bit in a kind of sideways or 'range' market which can cause problems for swing trades as the underlying market will often dictate the overall direction of share prices. I think you will find that, with this kind of system (and the firms trading results appear to back this up), you will get a series of trades which result in a number of gains and a number of losses which will about balance each other out - the profits come from odd one or two which turn into big winners. Your present draw down (ie the £260 which you are in overall loss) represents the 'costs' of speculation - ie the cost of being in the market and in a position where you might profit from a relevant market move in a particular stock.
If the 'costs' are too much and you are genuinely losing sleep of the matter then maybe you should consider a smaller position size. Part of learning to trade is understanding yourself. When unpleasant things happen, like a series of losing trades, your subconcious will associate the event with something which you similarly experienced before you started trading. As a result you will react in the manner which relates to your 'similar experience' rather than the way which is correct for the trading scenario - it is this that you must learn to control and understand. This is where your trading plan (if you made one) should help as this question you will have asked yourself already. Many people dont start with a trading plan as they dont understand things which they have not yet encountered. I would suggest that prehaps you investigate a trading plan.
Steve.
Company details for TradeWin can be verified here.
http://wck2.companieshouse.gov.uk/4375a9933b409a0e99db4f2d626955cd/compdetails
http://wck2.companieshouse.gov.uk/4375a9933b409a0e99db4f2d626955cd/compdetails
stevespray
Experienced member
- Messages
- 1,289
- Likes
- 156
1)Who enforces the so called 'rules'.....
2) The firm will more than likely claim that these arent 'tips' but signals from a 'system'.
If a company isn't regulated by the FSA, are they still bound by the FSA? This is a genuine question - please don't take offence and presume this is a smart **** reply as it honestly isn't.
I said I would post updates. Well, the system has really started to get going for me over the last 3 weeks with some fantastic results. There have been losses too but the winners have been so big that they've trounced the losing trades. Overall, the TradeWin system is doing very well at the moment.
I have been trading this system since the start of Oct. More losers than winners, currently down around £2000. I missed 1 trade which happened to be a winner and would have covered some of this loss. Would be interested to hear from others that have been trading this system to find out what their actual results are. There is obviously slippage and financing costs if trading the rolling daily's etc.
trader_dante
Veteren member
- Messages
- 4,535
- Likes
- 1,535
I can't bear reading these posts. £4,000 for a system? I've just been looking at the Vince Stanzione thread too. I genuinely cannot bear to see people are parting with this kind of money and hearing about what they have got for it.
The fact of the matter is, you don't need to spend money on a system. You can pick up many profitable systems for free just on the web. What makes the system PROFITABLE is the psychology of the trader and strong risk management.
The fact of the matter is, you don't need to spend money on a system. You can pick up many profitable systems for free just on the web. What makes the system PROFITABLE is the psychology of the trader and strong risk management.
That's strange as I've been doing well in this time although sometimes I cut and run early with profits and the system, in my opinion, waits a little too long only to see profits slip. I have the advantage of being at home all day and also receive text alerts on my mobile so I do not have to be tied down to the PC.
I do also agree with the above poster that £4k is too much for any system but I made the decision myself to invest that much money and I am £1k in profit after about six months. I've an open trade at the moment which I'm tempted to close at around £200 profit. Usually I would but I've my own sneaking suspicion this one is going to go a lot higher. The system already recommended raising the stop loss. But if I close this right now I would be in profits of £1,224. Although technically I'm down £2,771 from my original £3995 TradeWin investment.
Overall, the system is good. But its very expensive. And as I said on another board I would sell my membership of the system to someone else if they offered me a good price. And I have TradeWin's permission to do that.
