Andrew Searle's Lindencourt method

[Ingot54]

Ive now had time to evaluate the Lindencourt method a little. I looked at over a period of 2 months on the gbp/usd and eur/usd(15m). I only ever manually backtest as it is more realistic. Im sure mechanically testing this would show better results.
If you were to take every entry as described in the method it would be a losing system in the long run. However no system should really be used like that.If the entry bar suddenly shoots up 15 pips would you be wise to get in?,NO, clearly not. What I did find that by being selective on entry good results look apparent. Taking the trades when the MAs are close on both seemed to show much better results. The +10/-10 on the rsi is a resonable add on condition. The money management methods described seem good enough so its really down to the user to make it pay. Its not the sort of system I use,I dont really trade Like that,but for anyone wanting a system,it has to be said its condition for entry are precise and Im sure some well disciplined traders will be able to make it pay.

I set-up my platform with the indies today, and have yet to fully digest all the material sent to me. In fact, I have not only received what I paid for, I have a second and third and a fourth approach, supplied quite unexpectedly. I can't help but sense Andrew's passion for this stuff, and I have no doubt he prides himself on ensuring his clients achieve success.

Here's what was in the box:
1) A basic Set of Indicators/template specifically for MT4 platform
2) Very clear and fully detailed .pdf including examples
3) An alternate method (.pdf) which identifies "really hot" setups, but fewer trades
4) A 4H method with rules, chart and detailed methodology
5) A .pdf explaining how to trade 1H and 15M charts together
6) Several recent trade example with fully detailed explanation of the trades

Further, Andrew contacted me to check that I had been able to get the template fully functional. And after I sent him a quick screen-shot, he confirmed I had it spot on.
His email turnaround is less than 24 hrs, and a couple of emails were returned within 3 hrs.

Tonight (Aussie Eastern time) I am road-testing the new vehicle, and it's looking good. There has been a bit of chop, but because of the 15M TF, I have not been at much loss on demo. However, there have been a couple of trades, and when I have time, the screen-shots will be posted ... minus Andrew's indicators ... showing entry/exits and any nuances I picked up.

I do not believe in back-testing ... a machine/software can trade back-data around the clock, and it might/might not tell anything.

But I am not a machine ... I can only forward test a maximum 12 hrs a day, and even then only occasionally could I actually do that. So computer back-testing has that flaw, imv, and that renders results unreliable.

Forward-testing, by a few traders making comparisons to promote accuracy and hopefully removing a bit of human error, is the real test. All discretionary systems will come up with results that depend not only on the experience of the operator, but also the MOOD of the operator.

So in the next couple of days I hope to post a casual review of the method, and a trade or two ... win or lose.

I have to agree with you Flash - it is not possible to take every trade, but then Andrew does give a few qualifying bits of advice to help avoid situations where you probably would be better to go fishing. I'll identify those when I can locate them in the literature.

So far so good ... back to the platform ... we have bigger news in 90 minutes, so I expect a bit of jockeying before then in the currencies.

Will be good to compare notes with you Flash.

Best wishes

Ivan

 

[markfric]

Hi,

I actually tested LindencourtFX system on 15min and for me the system didn't work.

I did only backtesting, but the problem was that there were so many false signals that were perfectly according to the rules of the system.
Maybe some additional filtering would help, but I was not able to trade this system mechanically, and I was able to find any working filtering method.

I don't say it couldn't work for others, but it didn't work for me.

On the positive side is that the manual has really lots of information on many other topics beside this system that it is worth buying.

Mark

 

[Xenophobia]

I have only every bought 2 systems LC is one ofthem.

For me the LC system is total crap and severely lagging!

What this system does is gets you into trades practically right at the end of the move or near enough the end of the move.



I followed the rules, it didn't work, I used my discretion it didn't work.

I can't remember the exact outcome but let’s say it wasn't good.

 

[barjon]

Ingot54 is making a serious attempt here to road test the system and I hope everyone will respect that and keep their comments constructive, whether they be positive or negative. Thanks

jon

 

[bangkoker]

Ingot54 is making a serious attempt here to road test the system and I hope everyone will respect that and keep their comments constructive, whether they be positive or negative. Thanks

jon

Sounds perfectly reasonable look forward to some updates from Ivan

 

[bedsit]

What this system does is gets you into trades practically right at the end of the move or near enough the end of the move.



I followed the rules, it didn't work, I used my discretion it didn't work.

I can't remember the exact outcome but let’s say it wasn't good.

I've done a bit of testing and my impression about the system is similar.

August may not be the easiest month for any system, but it would help if I could get into trades a bit earlier.

Anyway I'll follow Ingot's further testing with interest as I haven't done the long time testing.

 

[bedsit]

In addition to the system assessment:

I think it's a good value as it gives some advice on trade management and there are some reasonable tools included. That's where the usefulness ends at the moment.

I haven't tried Daily.

 

[Ingot54]

In addition to the system assessment:

I think it's a good value as it gives some advice on trade management and there are some reasonable tools included. That's where the usefulness ends at the moment.

I haven't tried Daily.

Xenophobia and Bedsit ... what did you think of the emails that Andrew sent to his members this week, with the trades detailed?

 

[bedsit]

Xenophobia and Bedsit ... what did you think of the emails that Andrew sent to his members this week, with the trades detailed?

Andrew's support is excellent. He is a decent guy which is quite a rare thing among all that business of selling system and coaching how to trade ('entrepreneurs' eager to deprive new traders of their money). I'll recommend to a friend of mine (who wants to start trading) to book a session with Andrew.

 

[Ingot54]

Andrew's support is excellent. He is a decent guy which is quite a rear thing among all that business of selling system and coaching how to trade ('entrepreneurs' eager to deprive new traders of their money). I'll recommend to a friend of mine (who wants to start trading) to book a session with Andrew.

I think you misunderstood me Bedsit.

I was specifically referring to this week's emails ... I know Andrew is a decent bloke though my own experiences with him.

Do you know which trades of which currency pairs I am referring to?

 

[bedsit]

I think you misunderstood me Bedsit.

I was specifically referring to this week's emails ... I know Andrew is a decent bloke though my own experiences with him.

Do you know which trades of which currency pairs I am referring to?

No:?:

 

[Ingot54]

No:?:

Did you get the emails this week from Andrew?

I am wondering if there is a problem with your support.

It helps if we are on the same page, because I want to begin posting my trades - specifically a winning trade and a losing trade from last night (24 hrs ago roughly - Aussie time). Plus I will probably be referring to the tweaks Andrew gives as support to make his members better traders ... free btw.

 

[bedsit]

Did you get the emails this week from Andrew?

I am wondering if there is a problem with your support.

I guess he doesn't provide support to non paying customers (I don't blame him).

Before parting with the money I prefer to test it first and if the system is a success then I go for it (buy it). About the session - may book it as he's an experienced FX trader and I like his observations.

A trader can spend a fortune buying various systems before finding a good one.:smart:

 

[Ingot54]

I guess he doesn't provide support to non paying customers (I don't blame him).

Before parting with the money I prefer to test it first and if the system is a success then I go for it (buy it). About the session - may book it as he's an experienced FX trader and I like his observations.

A trader can spend a fortune buying various systems before finding a good one.:smart:

OK ... I understand ... and thank you for your honesty. I have done the same myself - and I told Andrew that I had already seen the system before I went ahead and purchased it.

I think what Andrew charges is fair ... and I was pleasantly surprised that he keeps in regular contact with his clients through email notification of his trades. He deserves his asking price ... and to those who use his system without paying for it, please think about what you are doing to yourself ... as well as to Andrew's business.

What I found and what others have found, seem to be very different. In purchasing the system directly from Andrew, I received so much more than I expected ... many many charts with worked examples - separate from the .pdf, and quite up to date. Emails sometimes only show the charts - annotated for clear explanation. But occasionally Andrew will write a detailed explanation of what he was thinking, and what the market was like as the trades set up and unfolded.

This week owners of his legitimate method (ie on his mailing list) would have received an early email with charts and trades in:
GBPUSD: +60 pips
EURUSD: 2 trades - net: +45 pips
USDCHF: +44 pips

Note: This was after the event - this is not a signals service.

Then before the weekend, he emailed us with his early activity on a few more pairs. Some stopped out, others winning, for a net around +50 pips, from the charts. I can not vouch for the numbers - it is ball-park because I didn't actually open my charts and locate the exact levels. It wouldn't be difficult, but serves no purpose to quibble about 5 pips over 4 trades at this point.

There would have been other trades ... on other days.

I am also finding that the Asian session has been providing some good trades recently ... have not been taking them, but much clearer and much less chop and volatility during this session.

I will post a chart shortly of a winning trade I did last night - live - on the EURJPY.

I am sure this kind of trade could have been done by many systems out there. But that is not the issue.

For me, it is not about the number of pips as much as it is about the consistency with which I am able to trade and score the pips. There is a big difference between getting 60 pips one day and losing for the next three days, and consistently nailing 30 pips every day.

What is important is the NETT amount of pips the system is able to produce, on a consistent basis.

After seeing this system in action before I purchased it, I knew it had the runs on the board. What traders have difficulty with - and I am no exception - is getting those runs on their OWN score-board.

I don't know what it is - I am no Brett Steenbarger or Mark Douglas, so I have no psychological report to offer traders to assist getting their heads together.

But the only way I can make a difference is to simply talk about my own experience, and let people know about something I am finding does work. I think with Lindencourt 15min method, you will go very close to nailing down a successful method for yourself.

There will be limitations to what my charts reveal of course, but I will be putting my trades up - warts and all - to show you what is possible. I can also show my email confirmation from IG markets which shows the open/close level if anyone would like verification of the trades. On a discussion thread this should not be necessary, I can do so if requested.

If I take a trade and it is only demo, I will also say so - this will happen because I am still learning too.

Best wishes

Ivan

 

[bedsit]

OK ... I understand ... and thank you for your honesty. I have done the same myself - and I told Andrew that I had already seen the system before I went ahead and purchased it.

Well, it was available for free at one site (I don't want to specify where for obvious reasons) - so I was under the impression that is a free system.

It was an issue about it being withdrawn from the sale and I thought it may be obsolete. Afterwards I found that I can book a session with Andrew and get free support and that only free system is Daily.

In the meantime I used it for testing and was not that impressed with the results. So I decided to delete it from the system. Anyway I may book a session and with extra instructions and continuous support could be a good system. Only in that case I would start using it for real trading.

About Daily - I'll download it and see if it's a good system.


PS Totally agree with Andrew's charges being fair and especially I appreciate him making Daily available for free.

 

[Ingot54]

Well, it was available for free at one site (I don't want to specify where for obvious reasons) - so I was under the impression that is a free system.

It was an issue about it being withdrawn from the sale and I thought it may be obsolete. Afterwards I found that I can book a session with Andrew and get free support and that only free system is Daily.

In the meantime I used it for testing and was not that impressed with the results. So I decided to delete it from the system. Anyway I may book a session and with extra instructions and continuous support could be a good system. Only in that case I would start using it for real trading.

About Daily - I'll download it and see if it's a good system.

PS Totally agree with Andrew's charges being fair and especially I appreciate him making Daily available for free.

Thanks Bedsit. I think you'll find that his sessions are not free. I am unsure if he offers one free session for clients or not - I don't remember reading that anywhere, and it was not clearly stated that I could see. His main course is outside the scope of this thread.

Anyway I am posting a chart of a trade I did on EURJPY, showing entry/exit.

It can clearly be seen that there are definite points where entry is made. This can not be disputed, and is unambiguous - ie every trader will have the same entry. But after that, the exits can become a bit discretionary.

My personal liking is to just aim for a consistent target. This will be different for every pair, because the daily range is different for each pair. The EURJPY currently has an ADR of 144.7 (see top left corner for indicator I use for this - not a part of the package). But the range for the day was actually more than this @ 156.8.

So with experience and a bit of looking back, one could work out the most likely consistent number of pips that each pair could deliver, and aim for that. I am not interested in runs of 150 pips and so on - particularly of they happen only once a week. My goal would be to be certain of 30 pips (or whatever) every day on a consistent basis.

This may be contrary to what the method advises, but it is my way.

There are other ways of exiting trades too -

* when price crosses and closes on the "other" side of one of the MA's
* When a support/resistance level is reached
* When a Fibonacci level is reached
* before a major (high impact) news release
* when there has been a turn in the market

The Lindencourt 15Min method is based on a series of Moving Averages and a couple of other well-know indicators. Some are there to show the general market direction, and others are there to specifically indicate alert and trigger points. The candlesticks and MA's are found in the main window.

There are two more windows on the template - both with well-known indicators with their own specific setting which suit the 15Min TF. The template is unusual, if not unique, in that the MA's displayed will change with the TF - higher TF show different colored and different periods of MA.

There is also a handy colored background that shows the Asian and Euro and US session s in different colours. Handy ... but not essential. I have actually modified min to show only the Euro session, and have omitted the other two. The template is customisable for your own tweaks, though it is not necessary to add other indicators.

I did add an ADR indicator, and can let you know what it is - I might be able to post it for download, but I would need to acknowledge the author of it. You can see it in the top left corner of the chart. Again - not necessary for a successful trade.

The idea is to look for an alert setup and then a trigger setup. All boxes must be checked before you have a valid triggered trade. No use going with 2 out of 3 ... or going in early before the candle closes. We all know how quickly a signal can reverse at this 15M TF, so be patient, and let the candle close before acting on it.

As can be seen from the annotation, I entered where everyone else did, but my exit was made where I did because I could see a base pattern beginning to form. Experience told me that the longer this base continued to form, the harder it would be to break any lower. I was very pleased with the 65+ pips.

I also traded the USDCAD, but lost 7.7 pips on that. Had I not been so tired, I would have persisted a little longer and perhaps gotten out at break-even or better. Clearly the trade was not going my way, and so I culled it.

I like to trade Gold too, for $4 targets, but this is only a personal thing ... it should not be done unless markets are quietly trending quite a long way from possible news. Gold can be very volatile and erratic ... and a stop can be hit in 3 seconds before price races up to your take-profit level. Not for everyone.

While this was an easy trade, and easily went my way, not all trades do this of course. But by being patient and cherry-picking a bit, and learning to recognise when conditions are favorable, it is possible to improve the strike rate, one would imagine.

I will post my trading record as I develop one :whistling but because I am a permanent night worker, I sometimes miss the sessions. I can't (and don't) catch all the trades.

 

[bangkoker]

:clap::smart: Thanks again for this thread Ivan, a lot of the ideas you talk about make a lot of sense to me and I find of great interest. Will see how it goes and see whether I think it will fit in with my trading style then I may well join up and give it a go.

Demo trading at first as I have been a little lucky to build my account up but feel that a period of consolidation is in order for me to firm up my trading methods for the longer term.

Only initial worry is how often this system will throw out good trades, I work full-time so it is not always easy to watch charts all the time, I can access charts on iphone but only basic ones.. oh well we will see but very interesting thread anyway.

 

[Xenophobia]

Even with some of my posts here about this system have been edited/deleted by on the take mods

I still stand by my word. This system is BS and the net is full of FREE systems that perform better.

I traded it for 3 months. And like I said on my other post. I used discretion for a period of time, followed the rules fully for a period of time and it was a blank bullet!

Do your self a fav and keep your money.

Thats my honest review.

 

[Ingot54]

:clap::smart: Thanks again for this thread Ivan, a lot of the ideas you talk about make a lot of sense to me and I find of great interest. Will see how it goes and see whether I think it will fit in with my trading style then I may well join up and give it a go.

Demo trading at first as I have been a little lucky to build my account up but feel that a period of consolidation is in order for me to firm up my trading methods for the longer term.

Only initial worry is how often this system will throw out good trades, I work full-time so it is not always easy to watch charts all the time, I can access charts on iphone but only basic ones.. oh well we will see but very interesting thread anyway.

Hi Bangkoker (are you really from Siam?)

Thank you for your positive response and your concerns.

I'm glad you do not have the negativity and grumpiness brought on by low testosterone levels obvious in others

The author uses this method exclusively for Forex. Hopefully no one will be foolish enough to attempt to trade Indices with it, until thoroughly tried in beta research.

Look, tbh, I don't know how this thread will pan out. But I would never have started it if I thought it impossible to overcome the difficulties inherent in many trend-following and breakout systems.

So far I have had two live trades for one win and one loss for a nett +57 pips real profit.

EDIT: See below ... I actually made a profit on the trade ... not a loss!
Not going to retype all of this.

The thread will be just an exercise on self-aggrandisement if only the winning trades are posted here. So what I propose, is to keep a running tally of pips won/lost (for the record) but post charts of trades that went wrong, so that the thread has value for me. I had a preview of the method, like Bedsit, and liked what I saw, so I purchased it.

The author warns against trading around news times, and that's probably where my trade of the USDCAD ran into problems. I am also trying to apply this system to trading Gold on the IG Markets $1 mini contract, and it will be only after following through with setups over time that I will get a feel for this.

As you may know, trading metals is vastly different from trading currencies, though linked to market sentiment. When the market is risk-averse, gold follows the EURUSD. When the market is in a more speculative mood, the correlation reverses. And the sentiment can reverse on a single news announcement, then switch back in 10 minutes to take the opposite tack. Nothing new there.

Below I have charts of my USDCAD trade.
I am embarrassed to post the trade, because:

* it reveals how unfocused I was on Friday
* it shows how I missed all the profits that were available
* it shows that I actually profited by 7.7 pips, not lost 7.7 pips

So the true tally is 65.5 + 7.7 = 73.2 pips.

What happened is that I was following too many pairs, including what happened to Gold.
My platform was showing the profits, but I kept thinking "more coming ... hang in there ..." and when it began to go against me, I didn't notice. By the time I was ready to quit trading for the evening (Aussie time) it still didn't dawn on me what the situation had been regarding the earlier profits.

I feel a bit silly right now, but I am determined to press on, regardless of my credibility.

Take-away lesson for me: Once in a trade - maximum 2 trades - stop looking around at what else is happening.

Focus ... focus ... focus.

What I threw away cost me more than credibility on any forum ... and more than a few pips. I also lost some intellectual trading capital - the confidence that traders need when they believe they know what they are doing.

I finished my trading Friday evening thinking that I should have done better, and that news times should be avoided. I am now thinking that I did nothing too amiss when trading the USDCAD, except failed to manage the trade. And this highlights what is wrong with many trades and traders. We can be on the best system around, but fail to manage correctly.

I suspect that some disgruntled newbies are just failed traders ... changing (like me) to other systems looking for sliced bread, only to become toast themselves. The secret to being a successful trader, imho, is to be found in trade management. That's another reason I like this method - the .pdf manual educates quite well in some of the areas I lack.

Some people should not be allowed near a computer trading platform :whistling

Chart #1 shows my actual trade, and where I could have managed better.
Chart #2 shows the system trade, and how it could/should have been traded.

It is clear that there is room for the use of discretion, but not in the hands of unfocused traders (yeah ... that was me on Friday).

Happy to supply evidence of my trades ... shows my scatty approach on Friday!

Best wishes

Ivan

 

[Ingot54]

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