Tufxp2

[MIKE FARRELL]

Has any one bought this product.

And would they like to share their views with me on it

Regards,

Mike

 

[pseudo straddle]

Has any one bought this product.

And would they like to share their views with me on it

Regards,

Mike

I haven't got the product, but there is a fairly long thread on this site.

You might like to have a look at this post by Dubai -

link to trade2win TUFXP thread and post

If you go to his trader blog, from the link in his sig - you will find a post where he declares that he is seriously thinking of giving up using the software.

:whistling

 

[Dubai]

Hi Mike,

I've had tufxp for a little over 14 months now. It all depends what you expect and what you want from it. Do not believe the blurb about it being a point and shoot system, you will go bust.

You have to subscribe to iqfeed which costs $85 a month and to be honest its very poor service for the cost.

If you go to my blog you'll see many months of results for tufxp. One positive is that cannon bury will honour the money back.

However, tufxp support is shocking and I'd thoroughly recommend buying the us version for $1700 instead of £1900. The only difference is the uk price provides support which is utter pants.

 

[MIKE FARRELL]

Hi Mike,

I've had tufxp for a little over 14 months now. It all depends what you expect and what you want from it. Do not believe the blurb about it being a point and shoot system, you will go bust.

You have to subscribe to iqfeed which costs $85 a month and to be honest its very poor service for the cost.

If you go to my blog you'll see many months of results for tufxp. One positive is that cannon bury will honour the money back.

However, tufxp support is shocking and I'd thoroughly recommend buying the us version for $1700 instead of £1900. The only difference is the uk price provides support which is utter pants.

Dear Dubai,

Many thanks for your helpful comments. However, I purchased the system in March 10 so I am intent on making it work.

When I first started using the system I was doing Ok. However, I made the mistake of taking notice of the overviews ( which had every intention of being helpful) as provided by TUFXP. What this did was to try to give advice on taking the best possible trades with very few support and resistance areas in the way; whether this be pivot points, fibonacci retracement and the big price numbers of 50 or 00. What I found by trying to follow this was that there were very few trades to take and if I did mange to latch on to one it just turned back the other way.

I decided to do some research. I ran a back test over 30,000 bars on the GBP/USD FXCM data BUT then worked my through about three months of qualified PTP's and using an Excel spreadsheet recorded results as to different criteria.

These results were very informative. They showed that despite there being resistance around the big numbers of 50 & 100 the PTP's were succesful between 72 & 75% of the time. They also showed that if you restrict your stop loss from the TESS software's risk figure to 30 when the risk is shown as 30+ you could gain an extra 767 pips after deducting profits lost of 340 pips by holding out for longer. Further, if you exited a trade when an opposing PTP qualified and started to trade the new qualified PTP you would gain an extra 527 pips. I also deducted 380 points for what I call "duplicates". These are qualifying PTP's in the same direction but very close to the originating PTP. From a scalp figure of 465 pips (pretty mean if you allow 380 pips for duplicates )for the period 5.3.10 - 11.6.10 I was able to transform this figure into 1,379 pips profit, which roughly equates to 106 pips profit per week.

I also ran a back test on the EUROUSD for the Barclays data for the period 22.2.10 - 25.6.10 This revealed 441 trades, 267 wins (60%) and 174 losses. The amazing figure from this back test is that it showed a profit of 1,467 pips!!!. The reason for this is that the Barclays feed more often than not suggests shorter risk settings and so profits are not hit too much by high risk settings.

Hence, there is scope to use the system on a point and shoot basis. However, even after only three months of trading I would not take all PTP trades.

I feel confident that I am now on track to make the 100 pips per week profit that I originally set out to do.

Once again many thanks for your helpful cooments.

Mike

 

[pboyles]

Dear Dubai,

Many thanks for your helpful comments. However, I purchased the system in March 10 so I am intent on making it work.

When I first started using the system I was doing Ok. However, I made the mistake of taking notice of the overviews ( which had every intention of being helpful) as provided by TUFXP. What this did was to try to give advice on taking the best possible trades with very few support and resistance areas in the way; whether this be pivot points, fibonacci retracement and the big price numbers of 50 or 00. What I found by trying to follow this was that there were very few trades to take and if I did mange to latch on to one it just turned back the other way.

I decided to do some research. I ran a back test over 30,000 bars on the GBP/USD FXCM data BUT then worked my through about three months of qualified PTP's and using an Excel spreadsheet recorded results as to different criteria.

These results were very informative. They showed that despite there being resistance around the big numbers of 50 & 100 the PTP's were succesful between 72 & 75% of the time. They also showed that if you restrict your stop loss from the TESS software's risk figure to 30 when the risk is shown as 30+ you could gain an extra 767 pips after deducting profits lost of 340 pips by holding out for longer. Further, if you exited a trade when an opposing PTP qualified and started to trade the new qualified PTP you would gain an extra 527 pips. I also deducted 380 points for what I call "duplicates". These are qualifying PTP's in the same direction but very close to the originating PTP. From a scalp figure of 465 pips (pretty mean if you allow 380 pips for duplicates )for the period 5.3.10 - 11.6.10 I was able to transform this figure into 1,379 pips profit, which roughly equates to 106 pips profit per week.

I also ran a back test on the EUROUSD for the Barclays data for the period 22.2.10 - 25.6.10 This revealed 441 trades, 267 wins (60%) and 174 losses. The amazing figure from this back test is that it showed a profit of 1,467 pips!!!. The reason for this is that the Barclays feed more often than not suggests shorter risk settings and so profits are not hit too much by high risk settings.

Hence, there is scope to use the system on a point and shoot basis. However, even after only three months of trading I would not take all PTP trades.

I feel confident that I am now on track to make the 100 pips per week profit that I originally set out to do.

Once again many thanks for your helpful cooments.

Mike

Pretty much any system can show a backtesting profit if you experiment with different stoploss and take profit levels. However all you are doing is optimising the system to past results, this will be irrelevant going forward. It also assumes zero slippage but that's another matter.

How have your live trading results been in comparison? You say you feel you are on track, that suggests you havnt achieved your target as yet.

 

[MIKE FARRELL]

Pretty much any system can show a backtesting profit if you experiment with different stoploss and take profit levels. However all you are doing is optimising the system to past results, this will be irrelevant going forward. It also assumes zero slippage but that's another matter.

How have your live trading results been in comparison? You say you feel you are on track, that suggests you havnt achieved your target as yet.

Hi there pboyles,

I have only just began trading the above strategies in earnest. I only made 7 pips profit today.

If you have TUFXP2 you can check the figures out for yourself. I did not just run back tests from the software, it took me days on end analysis to arrive at my results.

My efforts are to help me make TUFXP2 profitable. I also hope that other people may find my analysis useful. And also hope that if other people have learnt any positives from analysing the system that they could let me know.

Regards,

Mike

 

[Lord Flasheart]

Hi there pboyles,

I have only just began trading the above strategies in earnest. I only made 7 pips profit today.

If you have TUFXP2 you can check the figures out for yourself. I did not just run back tests from the software, it took me days on end analysis to arrive at my results.

My efforts are to help me make TUFXP2 profitable. I also hope that other people may find my analysis useful. And also hope that if other people have learnt any positives from analysing the system that they could let me know.

Regards,

Mike

I have a friend who has just got the software against my better judgement, he says there was 50 pip trade today.It is only his first day so hes probably looking at the wrong thing how many trades were there today and can you use it in all forex markets,thanks

 

[pboyles]

Mike

I don't know anything about the system but what I do know is that any system can be curve fitted to show a profit. I have been guilty of this myself in the past. If you mess around with stop and profit levels enough you'll find something that looks profitable. The problem is that this will most likely fail going forward as the future will not match the backtest period in terms of results.

 

[Lord Flasheart]

Mike

I don't know anything about the system but what I do know is that any system can be curve fitted to show a profit. I have been guilty of this myself in the past. If you mess around with stop and profit levels enough you'll find something that looks profitable. The problem is that this will most likely fail going forward as the future will not match the backtest period in terms of results.

Mike by you tampering and re inventing the wheel you managed to increase the profits by 1400 pips for the period? wasnt that near enough the total profit. I like pboyles am not trying to be negative as i have a friend who has just paid for it and seems to think itas brilliant. Hes sat next to me for weeks and then spends a fortune on soft ware. Says a lot of what he thinks about my trading

 

[Dubai]

Curve fitting is a massive problem with TUFXP. The number of systems I've created that look superb in the backtests is unreal and then the forward tests couldn't be any different. However, I have managed to preserve 2 settings that have worked for over 9 months now under live conditions.

 

[MIKE FARRELL]

I have a friend who has just got the software against my better judgement, he says there was 50 pip trade today.It is only his first day so hes probably looking at the wrong thing how many trades were there today and can you use it in all forex markets,thanks

Hello Lord Flasheart,

TUFXP2 recomends using the currency pair GBP/USD. On this basis there were 6 trades 5 winners and 2 losers, but I disregard 2 of them as they were so close to another trade. TUFXP2 also recomends trying to reach a 20 pip profit and you set your stop loss to whatever the level set by using the risk management tool. Your friend could have won if he played all these signal yesterday although if he is new he should study the manual and work through the training discs before attempting to trade. I believe that TUFXP2 are unfair in only giving customers a 30 day period (possibly 42 days now) before you can obtain a refund. I think that the period should be more like 3 months!

You can trade a number of currency pairs but apparently the GBP/USD is the one that attracts the most volume of money and, therefore in all overviews provided by Neil Spare he rarely mentions any other currency (although sometimes he refers to the Euro/USD pair.

I hope this helps.

Regards,

Mike

 

[Lord Flasheart]

thanks mike.
I actually saw it in action today,came home and copied most of it quite easily.That is not to say that it cant help traders. It looks like it was a losing day today. 4 trades this morn,3 winners. Two big losers this afternoon. If a stop had been moved to b/e after 10 pips it wouldnt have been so bad. At the end of the day its easy to duplicate and I cant see any reason for him to purchase it other than the fact that it rings for the entry point.

 

[Dubai]

thanks mike.
I actually saw it in action today,came home and copied most of it quite easily.That is not to say that it cant help traders. It looks like it was a losing day today. 4 trades this morn,3 winners. Two big losers this afternoon. If a stop had been moved to b/e after 10 pips it wouldnt have been so bad. At the end of the day its easy to duplicate and I cant see any reason for him to purchase it other than the fact that it rings for the entry point.

So you're saying you know how the PTPs are derived?

Why you would take 7 trades in 1 day?!

 

[Dubai]

Hello Lord Flasheart,

TUFXP2 recomends using the currency pair GBP/USD. On this basis there were 6 trades 5 winners and 2 losers, but I disregard 2 of them as they were so close to another trade. TUFXP2 also recomends trying to reach a 20 pip profit and you set your stop loss to whatever the level set by using the risk management tool. Your friend could have won if he played all these signal yesterday although if he is new he should study the manual and work through the training discs before attempting to trade. I believe that TUFXP2 are unfair in only giving customers a 30 day period (possibly 42 days now) before you can obtain a refund. I think that the period should be more like 3 months!

You can trade a number of currency pairs but apparently the GBP/USD is the one that attracts the most volume of money and, therefore in all overviews provided by Neil Spare he rarely mentions any other currency (although sometimes he refers to the Euro/USD pair.

I hope this helps.

Regards,

Mike

This is what annoys me about TUFXP support. They are clueless. GU isn't the highest volume pair by far. EU and UJ are bigger players.

 

[Lord Flasheart]

So you're saying you know how the PTPs are derived?

Why you would take 7 trades in 1 day?!

not exactly,but it wouldnt be hard to work out. All im saying is at the end of the day its only a guide software and isnt worth the money, a simple pivot point and moving average could do the same job. But if one can improve on it as others have done then it can be made to work

 

[Dubai]

As many flaws as TUFXP has, it is not a basic p/p and MA system.

Anyway, gl to anyone using it.