MrSpreadBetting System

As promised, I will be one of the traders testing MrSpreadBetting's system.

This journal will chart my progress with it.

I will trade the system as it is presented to me and as I understand it and I will note the results in an unbiased fashion.

I will not be giving recommendations to purchase this system. This is not a venue for advertising. You can decide for yourself whether it is something you would be interested in purchasing.

I will let everyone know after the event what trades I took but I will not compromise the vendor in any way by revealing anything about the system.

I would like to add that I am not affiliated with this product in anyway other than as a product reviewer. I have never met or spoken to MrSpreadBetting outside of our public posts on this forum (T2W).

I will conduct the experiment with £700 REAL MONEY (as advised by the system vendor) and will trial the system for four weeks.

I am on holiday in Mid December and I get back just before Christmas which will, I expect, be particularly quiet, so the testing period will be as follows:

Week 1: December 1-5th
Week 2: January 5-9th
Week 3: January 12-16th
Week 4: January 19th-23rd.

I am happy to answer questions but they will only be on my experiences with the system. Please direct any other questions on it to MrSpreadBetting DIRECTLY.

Looks like I completely missed out on some fun again, I honestly believe that 80% of all the going-ons here pass right by me what with so many sub forums lol, first time I heared of Mr.Sppreadbetting until I searched for him now. I've been busy tending to my pet clown, a Mr. Forex lol, who likes sending PDF's around that show him having 670 winning trades in a row and how he doubles his account every 60 days when he isn't busy as an IB.



Have fun with your guy Tom.

This evening I found a large envelope on my doormat with a 134 page manual and CD-ROM. I read through roughly the first forty pages thoroughly and have skim read the rest to see what the system entails and what I will need in terms of software to get started.

I will go through the whole manual and accompanying CD in detail over the weekend but I have to say, I am very impressed with what I have seen so far.

The manual covers the basics that traders need to understand to become profitable, including:

- The emotions that drive the market
- How and why stocks move
- Price behaviour (buying and selling pressure)
- Understanding your trading personality
- Creating a trading business plan (I was particularly impressed with this section as it points the trader clearly in the direction of areas that they should be considering carefully in this business)
- The swing trading system entry with stop loss and exit rules with an emphasis on risk management
- What to trade
- How to keep records
- Specific chart patterns for swing trading
- A day trading system

I am not new to most of this but again, I have to say that, the essentials are covered in a comprehensive and easy to read manual.

As stated, I have not read through the manual in detail but there seem to be some sophisticated trading ideas covered including the discussion of how to find areas where market makers have trapped weak hands in a stock and volatility expansion after contraction etc.

Infact, the concepts are much more enlightening than something I would have expected from someone calling themselves Mr Spread Betting (no offence to him).

At any rate, more as and when I go through it.

Great start- look forward to seeing how the trading goes next week.

For the sake of completeness and for the benefit of those members who, like Markus, haven't been following this saga from the start - these two threads provide the background. Full credit should go to new member 'astonmartin' who pushed for the reviews, to MrSpreadBetting to agree to have his work dissected by our three reviewers and, last but not least, to the reviewers themselves: astonmartin, trader_dante and Trader333. In all my years here, I'm not aware of anything like this having taken place before. Additionally, I have to say how surprised I am that Tom is willing to risk £700 of his own money on someone else's system. I can't quite decide whether that makes him ever so slightly barking or very, very brave! Anyway, here are the links
http://www.trade2win.com/boards/spread-betting/43896-spread-betting-winning-strategy.html
http://www.trade2win.com/boards/spread-betting/45792-legendary-member-s-forum-mod-s-sharky.html
Should prove to be an interesting thread.
Tim.

Just had a quick look at the CD-ROM which provides a visual (and audio) companion to the paper manual.

I feel that it will take me a while to learn the ins and outs of the system and there are also some discretionary elements to consider which means that starting Monday may be a little optimistic but I'll spend some time on it this weekend as I am keen to start.

I'll make this my last post for now but would like to reiterate that at this stage - first impressions and all that - I'm feeling positive about both the system and MrSB.

-Tom

I actually went on Amazon early this afternoon and purchased this just to give it a go. I'll be watching this thread with interest and respect to Mr SB for allowing his work to be put to the test.

I'm hoping this is a good intro for someone thats on the starting block!!

I've done a bit of searching and cannot find anything negative about this guy! That's a good sign i suppose.

GMontana- from the looks of it you could have bought plenty of far worse trading books/strategies with your money. The comments that i have seen online, as well as t_d's preliminary thoughts above appear to suggest that it is good for beginners. Do post your thoughts on the strategy as you go along too- the more reviews the better. .

I'll definately post my progress as i go along. We'll have reports from a couple of really experienced traders and from astonmartin who has some experience so i suppose it wont hurt to have the opinion of someone with no experience.

That was out of character for me to just jump in like that but the fact he was happy to have his work reviewed on here actually speaks volumes.

We'll see what happens!!

Really interested to see the outcome of this... Will definately look at purchasing the product if it recieves favourable reviews. At least we can now say one thig for certain - MrSpreadBetting is not a scam artist.

Sam.

this is great stuff! i never expected for anything like this to happen when i originally started the thread. good on you mr spreadbetting, i will definitly be making purchase if the reviews are good. trader_dante, remember and post all your trades as you make them telling us stop losses etc. What spreadbetting company will you be using and will you be using charting software? by the way, what happned to the other two that were supposed to be reviewing it? have you recieved your packages yet guys? jump on this thread and let us know how you are getting on.

nico_po said:

trader_dante, remember and post all your trades as you make them telling us stop losses etc.

Click to expand...

I will do.

nico_po said:

What spreadbetting company will you be using and will you be using charting software?

Click to expand...

I will be using Finspreads for this experiment. I will update you on the charting as there are still some issues to resolve before I decide what to use.

I've just had a private message asking me firstly why I am doing this and secondly whether I am getting paid!

I thought I would answer it here just incase anyone else is wondering the same thing.

Firstly, I responded to a post on T2W asking if anyone was willing to give the system a go. It's a EOD swing trading strategy so it won't interfere with what I do at the moment which is mostly intraday.

Secondly, I am content with the results of my own style of trading but I am always open to learning new things and think it a good idea to try other approaches to the market. It is possible certain elements or different ways of thinking may increase your profitability or give you different things to think about.

At the same time I am pretty sceptical of most vendors and paid for systems. That has probably come across in a few of my posts on this forum so it's a chance to actually see if there is any value for money out there in this particular case.

Finally, I am NOT getting paid for this. I don't know MrSpreadBetting. I have never met him and have spoken to him only ONCE outside of messages that everyone can view on this forum and that was to ask him to give me a call at some point so I can make sure I have understood things correctly.

All I have had from him is a FREE copy of the manual and CD-ROM which is presumably the same that is for sale. Since I am going to trade it with real money I actually have a lot to LOSE in this venture - mainly £700!

I am not here to advertise his business. I am here to dissect it.

If it works and I show it works then perhaps people will pay for his course. If it doesn't and I lose money then perhaps they will think twice.

I have had offers from people before through T2W to promote things. I guess you expect that when you build up a reputation on a site and people follow your posts. I am not interested in this. I like to be totally unbiased, to help people and I am not about to sell out to anyone. The only time I would consider plugging something is if I believe it would genuinely help people out there and I wouldn't accept payment for doing so! That is why I usually direct people over to J16 on FF. He has a paid for site. Has he asked me to promote it? No. Would I tell people it's worth the money? Definetly.

Hopefully that clarifies things.

-Tom

Hi

Hi,

I would like to say that the other 2 reviewrs are still waiting to get there copys.
The reason why is Trader333 has not got back to me with an address that I can ship it to, maybe he is busy or had second thoughts I don't know nor can I answer that.

As far a astonmartins I will need to post his tomrw, that is 100% my fault as I damaged his copy on my way to post it, but I will deff be sending him a copy on Monday!

Can I also add that on my forum(without promoting it) that when you or if you have bought the manual you get ongoing support from me there, which also includes updates to the system.
I have already finished the latest update to the system and PM trader_dante with the info for him to use.
Also I do and will update the system time to time when I think it needs to be done in order to fit in with the current market.
I don' want to keep going on here as I don't want you to think I'm using this as a sales pitch (I'm not) but I would just like you to understand that its not just paper and a CD you pay for its ongoing support and all updates that you get for your money.

Thanks
Davie
Thanks Davie

Hi all, this has definitely caught my interest, so i have just purchased it from amazon. I usually trade forex intraday. I have tried Swing Trading stocks before and could not make money. So il give this a go for a while and il let you know how it goes.

hey Davie, if the other guy dosn't get back to you, I would be happy to do you a review.

nico_po said:

hey Davie, if the other guy dosn't get back to you, I would be happy to do you a review.

Click to expand...

For the purpose of a fair test only long standing members of T2W need apply and will be the only ones allowed to post a review within this thread.

As things stand now that will be:

trader_dante

Trader333

astonmartin

Trader333 is still in if he wishes to participate, all that is needed is their coms issues straightening out I believe. If he indeed does not wish to continue I believe timsk may step up to the plate in his place? maybe?

Sorry about that nico_po

I have contacted Mr Spreadbetting with my details.

Paul

Hi,

Yes trader333 PM me yest to give hiw address so I will be shipping the 2 copys to trader333 and aston tomrw.

Davie

your not making sense mr moderator! aston martin is only a newbie and he is carrying out a review .