meanreversion
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Tom Hougard is the man behind this (I probably spelt his name incorrectly, apologies). I saw him at a seminar given by IG a while back. I logged into the website for a week or two, just to see how things progressed. The problem is in timeliness of execution.. Tom will say something like "get ready to sell EUR/USD now" then there'll be a gap of 10 minutes, then he'll say "sold at 35". When you look at the screen, the rate will be 32/33. He probably DID sell at 35, but that's not to say you can.
In other words, it's difficult to replicate precisely what he is doing.
In addition, why would you want to rely on someone else for signals? Isn't this a cop out from learning to trade yourself?
It's interesting to follow it for a little but I wouldn't pay for it, nor follow for too long.
In other words, it's difficult to replicate precisely what he is doing.
In addition, why would you want to rely on someone else for signals? Isn't this a cop out from learning to trade yourself?
It's interesting to follow it for a little but I wouldn't pay for it, nor follow for too long.
Im talking more about the training course he offers, and your right I dont want to depend on him for signals but am trying to learn as much as I can, Ive started trading already and reading alongside.
The things that have attracted me
1. Price
2. You can see his results
3. 2 days with unlimited resit
Im the type of person that learns by doing, and watching someone do and although I am trading at the moment, being able to watch someone trade successfully in real time sounds really appealing and informative.
The things that have attracted me
1. Price
2. You can see his results
3. 2 days with unlimited resit
Im the type of person that learns by doing, and watching someone do and although I am trading at the moment, being able to watch someone trade successfully in real time sounds really appealing and informative.
Lord Flasheart
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I dont know anything about his course,but tom has a history of selling courses and recommending brokers and mentors.He seems to change every year. Just because he is a regular tv pundit does not mean he can trade. We can all post past results and delayed trades. I dont wish to offend you Tom as you are a very personable guy but Im just saying what I think. Feel free to correct me
meanreversion
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Irrespective of Tom's abilities or otherwise (and he had some pretty nice calls on EUR/GBP when it was moving wildly)
1. Why would you rely on someone else for trading signals
2. You're never going to be able to replicate what he does (see my earlier post)
Follow what he says by all means, but don't take it too seriously. People like Tom make money from subscriptions, and by getting new traders to open accounts with Saxo. Once they open an account, he'll get 0.1-0.25 of the bid/ask every time they trade. It's a nice little earner.
1. Why would you rely on someone else for trading signals
2. You're never going to be able to replicate what he does (see my earlier post)
Follow what he says by all means, but don't take it too seriously. People like Tom make money from subscriptions, and by getting new traders to open accounts with Saxo. Once they open an account, he'll get 0.1-0.25 of the bid/ask every time they trade. It's a nice little earner.
Lord Flasheart
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Yep mean thats exactly what Im saying,although hes charged broker a few times.
You said he maid some good calls,how delayed were they?
You said he maid some good calls,how delayed were they?
meanreversion
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Not delayed at all, these were medium term calls, stayed long EUR/GBP for 800 pips or so then turned and went short, made another 900 pips or something.
meanreversion
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But that was a long time ago.
Look, the guy is personable and struck me as decent. His business model is getting new clients to pay for subscription + any deals he has with brokers. I would not recommend trying to follow someone else in order to make money, but it might work for some people. Just watched out for the delayed calls..!!
Look, the guy is personable and struck me as decent. His business model is getting new clients to pay for subscription + any deals he has with brokers. I would not recommend trying to follow someone else in order to make money, but it might work for some people. Just watched out for the delayed calls..!!
There seems to be a bit of negative feedback on web for the site Whichwaytoday run by Tom Houggard. This has been monitored by several review sites of late and below i note a day in May which still has not been posted on the site which was a big loss. It has been a repeated problem that Tom seems to omit loosing trades and blames lack of time to update performance chart. This only seems to happen in Whichwaytoday favour.
Below is the very controversial 27th May 2010 trading day which was not reported on site. This is not the only one that has occurred.
FTSE - SHORT 5051, out at 5076 for Minus 25 full points. This trade Tom Houggard doubled up on position to give a average of 5067. NOTE - when closed this made plus 5 points on one lot and minus 30 on second lot giving the minus 25 points reported.
Sterling Dollar - SELL 1.4450, Stopped out 1.4510. Minus 60 points on Half (Minus 30 full points)
DAX - SHORT 5822, Stopped out 5842. Minus 20 full points
Euro Yen - SELL 110.75, Stopped out 111.25. Minus 50 points on half (Minus 25 full points)
DAX - SHORT 5879, Stopped out 5911. Minus 32 full points
Sterling Dollar - Sell 145.24. out 145.07 Plus 17 on half (Plus 8.5 full points)
- 25
- 60
- 20
- 50
- 32
+ 17
Total points for day - Minus 170 Points.
I stopped using Whichwaytoday a few months ago as i believe the site can now not be trusted although i have friends which still use this site and have reported improvements in reporting of late. I will be giving the site one last go and if improved reporting will be happy to post the improvement here.
Peter
Below is the very controversial 27th May 2010 trading day which was not reported on site. This is not the only one that has occurred.
FTSE - SHORT 5051, out at 5076 for Minus 25 full points. This trade Tom Houggard doubled up on position to give a average of 5067. NOTE - when closed this made plus 5 points on one lot and minus 30 on second lot giving the minus 25 points reported.
Sterling Dollar - SELL 1.4450, Stopped out 1.4510. Minus 60 points on Half (Minus 30 full points)
DAX - SHORT 5822, Stopped out 5842. Minus 20 full points
Euro Yen - SELL 110.75, Stopped out 111.25. Minus 50 points on half (Minus 25 full points)
DAX - SHORT 5879, Stopped out 5911. Minus 32 full points
Sterling Dollar - Sell 145.24. out 145.07 Plus 17 on half (Plus 8.5 full points)
- 25
- 60
- 20
- 50
- 32
+ 17
Total points for day - Minus 170 Points.
I stopped using Whichwaytoday a few months ago as i believe the site can now not be trusted although i have friends which still use this site and have reported improvements in reporting of late. I will be giving the site one last go and if improved reporting will be happy to post the improvement here.
Peter
meanreversion
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How much is it per month?
meanreversion
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That's quite a lot, isn't it? Is it worth it in your experience?
i suppose it depends on your account size, if trading is your only income stream then this could work if your stake size is big enough. The only way to trade with Whichwaytoday and follow there guidance is to sit a your pc from 6:30 am until afternoon when the finnish trading. you cant jump in and out of chat room etc if you have another job, you will miss trades and entries. I have found other sites which charge alot more so i think £90 is fair. I have yet to find a site which gives clear and dependable information that can be followed.
meanreversion
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So you need to sit there and look at the screen all day? Does Tom explain his reasons, or is it simply a case of following what he does? Is it going to lead to development as a trader? I don't subscribe to a trading room like this, I'm just curious to know how people perceive it will help, other than attempting to mimic someone who (I assume) is profitable.
The site has a live chat room where Tom Houggard and David Paul post there trades and give a explanation of why they are taking positions. You will need to sit near your pc at all times as entry and exits are posted live. Targets are posted sometimes but these are not where exits are taken quite often, hence you need to screen watch to see where exits are taken and reason is often given. The site is a educational tool and you would need to attend one of there seminars to fuly understand there trading style.
My post is to point out that there maybe a question on there style of trading if there performance report does not actually reflect how they trade. I have never seen a miss reported trade from David Paul but Tom Houggard seems to be a bit lax on his reporting often missing some loosing trades.
As im sure you would agree trading should be your own decisions and reliance on mimic trading is not the way forward, but when using a site as a educational tool reporting by that site should be accurate to give confidence in educational information.
My post is to point out that there maybe a question on there style of trading if there performance report does not actually reflect how they trade. I have never seen a miss reported trade from David Paul but Tom Houggard seems to be a bit lax on his reporting often missing some loosing trades.
As im sure you would agree trading should be your own decisions and reliance on mimic trading is not the way forward, but when using a site as a educational tool reporting by that site should be accurate to give confidence in educational information.
meanreversion
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As I recall, Saxo bank is advertised on the website (or it was). As such, Tom will get a rebate from them from any new clients who open an account. Combined with the £90/person/month fee, he must be coining it. If he is not reporting losing trades (note, only one "o" in losing, not two) then there's something borderline fraudulent about that... !!!
Thanks for the spelling correction...... yes its not good that trades are miss reported. I think Tom has become more aware of this of recent and has discussed the problem on his site as far as im aware. Im not convinced that Tom is out to outright lie on all his trading activities but may have just hope the missing trades would go unnoticed when he had a few bad trading days. He may have almost convinced himself that it was not as bad as he often trades outside of the room and may have made up for loses outside of the chat room. I think overall he is still profitable. Im sure Tom will learn very quickly that when it comes to money people do not miss a trick so to speak and factual reporting is better than reporting large profitable trades all the time. Every trader will have some draw down at some point and this should be part of any trading education.
still awake
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I believe Tom H had a poor 2 or 3 months and also claimed the pressure of the long waits in the Room between trades had got to him, so posted on his site that he'd decided to take a three month break, also the partner David Paul stopped his involvement. However that was last year (2011) I think and no sign of him back, unless you know otherwise.