I am also thinking of buying this system. Have youo used it? What do you think??
You should never buy anyone's system. If it was that good why would anyone be selling it? You don't know if the results are based on hypothetical trades, in which case they are meaningless, or real trades.
Even if the results are based on real trades which have been audited (unlikely) there is still a large risk in real market performance being different from historical performance.
This is due to trader effects, overoptimisation and curve fitting to name but a few potential problems.
You are correct, this system is a bunch of ^&%%#$.
I lost 90% of my funds and the $10,000 to buy it.
Sorry to hear that. Can you elaborate on what happened? Was it credit-crunch volatility? Inaccurate fills? Was the system just curve-fit nonsense that happened to work well for a year in their walk-forward?
Done mean to pick over the bones of your misfortune but its always a good learning experience for other people thinking of buying trading systems from vendors.
However, if the fill or exit is traded only once for one contract the system counts that as a successful fill, even though the other 99.9% never got a fill or exit. Thus the profits reported are not representative of real life and greatly over exaggerated.