Zack Kolundzic - Street Smart Forex

[Outa my gourd]

I was surprised to see no mention of this guy or his product here. Anybody have any experience of either?

STREET SMART FOREX

 

[pki99]

Yep. IMO he's just a professional seller of short-term systems that only work for certain market conditions- like hundreds of others out there. If you are going to buy it then ensure he's got a cashback guarantee

 

[Outa my gourd]

Yep. IMO he's just a professional seller of short-term systems that only work for certain market conditions- like hundreds of others out there. If you are going to buy it then ensure he's got a cashback guarantee

Thanks - appreciate the advice.

It'd be interesting to know whether anyone's actually trading the system and what the results have been so far. Another of those "too good to be true" deals maybe? :whistling

 

[pki99]

Thanks - appreciate the advice.

It'd be interesting to know whether anyone's actually trading the system and what the results have been so far. Another of those "too good to be true" deals maybe? :whistling

========================================================================

I'm not sure where you are in your journey but I stopped looking at such systems many moons ago. I have that system along with others (most of them refunded!) but I couldnt even tell you where I filed it away on my PC.

I dont believe there is such a thing as a generic working "system". The only system that I found to work for me was the system I made for me - based on the education gained from some serious traders on T2W amongst others, over the years. And I reckon it will be the same for you. I dont know what your preferred timeframe and trading style is. If your are patient enough to wait for trades to come to you and use the 1hr and above timeframes to take 2 or 3 trades a week, then look on T2W for trader_dante especially and also forex99's thread.

Newtron Bomb's stuff is pretty good too if you dont mind waking up at 6.30am every morning to draw channels! (And keep any eye out for Rathcoole Exile's excellent one-liners!)

IF you're brand new to this and enjoy the search for the Grail, then have fun looking at a few systems. Its all part of the journey. Just dont invest too much money while you try them out and make sure they have a refund policy.

 

[glennw]

Yup, I've seen way too many splash ad screens like that. Did you notice he has 4 trades labeled as "Proof"? Hahaha!

 

[pki99]

Yup, I've seen way too many splash ad screens like that. Did you notice he has 4 trades labeled as "Proof"? Hahaha!

Hi Glennw. Liking the sound of 3 quacks - hoisin n all!!!! I'm also thinking of developing a shorter tf strat to add my usual way of trading. How well did you test your modified approach and is the 12ema an average you've always used?

 

[glennw]

Hi Glennw. Liking the sound of 3 quacks - hoisin n all!!!! I'm also thinking of developing a shorter tf strat to add my usual way of trading. How well did you test your modified approach and is the 12ema an average you've always used?

Well, my method of "testing" is a little unconventional. I don't like automatic backtests because they take dumb trades, and have no awareness of impending news releases, etc...

I started by looking at CC's example with the 4h chart, but found it too long for my attention span.

So I simply strung several different emas onto the 1 hour chart, and visually compared how the price behaves, breaks above and below the emas until I see one that seems to have nice swings going back in time. I've used the 21 ema in other systems, but the 12 seems to have a better look to it in this system.

I prefer to forward test with small lots, and count the pips, and see how it "feels" to trade before going large. For me, a system has to speak to me because in the end every trade is just a coin flip anyway. All I need to do is filter out a small edge to trade profitably, and I've traded long enough to know it when I see it. Then I try to expand the edge by what I know is happening in the market. It's like adding biases, events, and a system together. I don't mind missing a trade if I'm unsure due to conflicting information.

Finally, I often spot idiosyncrasies of the system that recur often enough that I can form a rule to exploit it, and thereby refine how I use the system.

I'm still experimenting with the 3 quacks. I have two other systems that I depend on for bread and butter. Unfortunately I can't talk about those...

 

[pki99]

Hahaha!!! Nice one!!
I would have been worried if you'd revealed your bread and butter systems just like that!!!

I have a similar approach to backtesting i.e. look at small amount of previous data to get the rules in place and then forward test with small amounts of money.

My bread and butter system is in the higher tfs. Basic chart reading really - but for some reason most people seem to want more complicated stuff.

However I have more time on my hands at the mo so only get a couple trades a week is not quite as fulfilling. I was thinking off (a) using my systems on more pairs OR (b) keeping the same pairs and finding a short tf 1:1 strat.

I like plan (b) because I like the pairs I trade, and it would be nice to learn even more about them at a micro level, while getting more trades.

I've not yet managed to trade shorter tfs successfully. I've not learned to turn the noise to my advantage. I always seem to end up with a win rate of 50% at 1:1!! So I'll give 3 Quacks and a dollop of plum sauce a go - any pairs it seems to work best with ??............

 

[Outa my gourd]

========================================================================

I'm not sure where you are in your journey

Taking the first steps, I'm afraid. I bought a system which didn't deliver on its promises and got a refund. It whetted my appetite enough to start searching around the 'net though - hence finding myself here. Thanks for taking the trouble to add to the post

 

[pki99]

No worries! That's how I ended up here too. Most bought systems (and many free ones!) will not deliver for you. Even when you find an approach you like, you'll prob have to tailor it to fully suit you and test it appropriately. All the best.

 

[bombettor]

I bought the streetsmartforex system yesterday.Pretty simple. Have done 2 trades on 5 min system. Both winners. Still looking for 4H trades. 5m systems has plenty of opportunities. Wil try and update 4H trades as and when I do them.

 

[chrisheath]

Bombettor, how are you doing with streetsmart, I bought his forex system (very similar, I believe, just older). I quite liked the 5 min, though its time consuming to backtest, over 2 or 3 months, it was always well up. It made a lot of sense, and I use the concepts in other trading.

Chris

 

[NVP]

any system can deliver in good trending conditions

(and jees we all recieve enough junk mail when the markets have been kind - like last friday )

I would backtest any system you believe in under the Chop, ranging conditions that occur a lot and see which one loses the least

its about Defence in this game before you start on the offensive strategies

thats a good start :smart:
N

 

[anley]

Here's a tip for all of you thinking of buying a system or strategy.

Whenever anybody offers a money back guarantee it's a marketing ploy. Studies have shown that when one is offered it increases sales by around 20% (I think) and yes there are always freeloaders who'll ask for their cash back but the point is this - the increase in sales versus the freeloaders is very worthwhile.

The point to all of this - The fact that they're offering a money back means they're marketers first and foremost which means what you're buying is 98% of the time worthless. Sure, you might be able to make a touch of cash here and there but to think you're going to be sitting by a pool clicking a mouse button once in a while is a dream, which coincidently is what most of the system sellers are actually selling, a dream.