Champion Trader

I have been papertrading CTA for around a YEAR and I find consistant profits to be made. Fair enough it takes a lot of time and effort and I only trade forex which does work for me.

I'm not an experienced trader, but I accept what SL says: Take small points and exit. It doesn't seem that hard to me! Like I say I have been papertrading for a year (not end of day) and it truely works for me. If someone is prepared to offer me a better system let me know and I'll gladly investigate.

I was very new to trading when I bought CT and CTA but it gave me a very interesting insight into the markets and I am now convinced doing anything else but trading isn't for me. Yes its true that CTA needs a trend to work but if you are on the ball and active you will see that trends are everywhere. I deal nothing but forex and it suits me to take small profits but several of them.

This is what SL is getting at. DONT look for big gains if you are inexperienced. Just go with the flow and never deviate. I have GAMBLED and lost, but with CTA I win!

It may be very simple (which I think annoys many people on here) but it suits my style of trading......... get in.............. get out!
 
Cta

Hello everybody,
I have purchased CT one year ago. Despite I was promised a lifetime support and member’s subscription, today the CT web site is transmitting to some other system. I have received an e-mail notification to my e-mails, that the recipient's address is no longer valid.
In this case, could anybody send me the CTA system, by e-mail? My e-mail is [email protected]
Thank you very much beforehand.
Emil Petrov
===============


pkfryer said:
Does pkfryer care to respond? Let's see how much money he's made with CT?

Joe, dont get angry. I was just asking a valid question. I have looked at many many systems and techniques and have been open minded. I must admit that he does make it sound a bit too easy though.

I have not thoroughly back tested the system as I went on to other things and didn't have the time to set up a test but I am planning on getting around to it.

Its actually not as bad as everyone makes it out to be, its just very simplistic and the stop loss logic is a bit questionable on very high ranged days (which it doesn't take account of) also it doesn't help the trader know when to exit a trade which is very important. Also, with CTA (day trader methodology) the risk reward factor is questionable: going for 1:1 trades... doesn't sound too good!

The basis of the method reminds me of some of the prestine methodologies, they dont look at indicators but candlestick patterns and they also work with the trend only using moving averages. The CT technique actually has some sound ideas:
1. never trade against the overall trend.. always with it!
2. Wait for a retracement
3. Wait for a confirmation of the trend continuing by looking at a candle pattern AND for the EMA line to tick up
4. USE stop losses and money management!
5. Use orders to get into a trade, your in only in if price confirms the price patterns.
5. If the set up isnt 100% walk away from the set up and go for something else

It also has some sound advice about the market and about surviving rather than being greedy or trading for thrill!

The CTA method is similar and actually has some reasonable concepts too:
1. Always trade with the trend of the next time frame up (a multi-frame approach advocated by many)
2. Wait for a minor resistance line to be established against the overiding trend
3. Set up an order to sell below the minor support (against the trend) or buy above minor resistance.
Both highly accepted tactics.
4. Set up a stop loss.
5. Walk away the moment it starts to look anything less than perfecct.

Its actually not a bad concept. If the trend is going up and its good strong trend, that upward movement has to come from somewhere. It comes from the time frame BELOW. Therefore it pays to to bet on the side of the trend 1 time frame below. Most times it will work but when it doesn't you have stop losses.

These are reasonable no indicator techniques, the main criticism is he doesn't outline the risks and makes it sound too easy. The price of the courses are way way way too expensive!! That is the reason I turn negative in my attitude. There are books for 30 quid that contain about a thousand times more information and ideas in it! There is no rule for helping you decide when to take your profit which is actually the MOST important technique. Its easy to enter a profitable trade (with practice), but with these short term moves that last only days before the profit disappears... when do you get out.

I think with some variations and adaptations it could be the basis to take things further with your own approach.

I'm not an advocate just saying that the concepts aren't that bad, but the price makes it a conn, but then again its the way these trading things work.... you are meant to be buying something that will make you thousands, so whats a few hundred quid! I've found that with many things in the trading world... software, data feeds and courses: Its SO expensive, EVERYTHING trading related.. so this is no different in that respect. For instance, I have spent hundreds of pounds on metastock plugins that are very simplistic and basic things... hardly would have taken much time to develop, but they charge you such large amounts of money because of the possibility that these add ons will make you a lot of money if used properly.

How much would someone sell you the genuine "horn of plenty" for, if it existed? How much is something that builds wealth going to cost? Thats the philosophy they use when peddling the merchandise... and if it genuinely helps you make money can we blame them. Its a conn if they sell you a plastic replica, but not a conn if it works.

I'll lay down the gauntlett! I've got a few system testing tools and I'll get around to coding in the system exactly as its stated in his course for the CT and CTA. Test it on the markets he advocates (very fluid blue chip companies) and you do the same. We'll see what thorough back testing does. I have to warn you though... the mothod is quite tricky to code for some platforms (Metastock is a good example)... as there is an abort clause that triggers BEFORE the trade is entered. i.e. how do you code in the fact that you dont want a previously entered limit order to go ahead if a certain circumstance happens? I'll have a think!

Joe, whilst we wait... post your system test findings.
Click to expand...
 
Further Details ??

smokingtail said:
I have been papertrading CTA for around a YEAR and I find consistant profits to be made. Fair enough it takes a lot of time and effort and I only trade forex which does work for me.

I'm not an experienced trader, but I accept what SL says: Take small points and exit. It doesn't seem that hard to me! Like I say I have been papertrading for a year (not end of day) and it truely works for me. If someone is prepared to offer me a better system let me know and I'll gladly investigate.

I was very new to trading when I bought CT and CTA but it gave me a very interesting insight into the markets and I am now convinced doing anything else but trading isn't for me. Yes its true that CTA needs a trend to work but if you are on the ball and active you will see that trends are everywhere. I deal nothing but forex and it suits me to take small profits but several of them.

This is what SL is getting at. DONT look for big gains if you are inexperienced. Just go with the flow and never deviate. I have GAMBLED and lost, but with CTA I win!

It may be very simple (which I think annoys many people on here) but it suits my style of trading......... get in.............. get out!
Click to expand...

Hi Smokingtail,

I've just read your point on using CTA with Forex. I purchased CTA around 2 yrs ago, it was the first system I purchased. Never really got into it because I found I prefered Forex markets. I'm interested to hear more about your use of CTA with the Forex markets - would you be willing to share your experience? I see you are looking for trends, on any currency pair I guess? What time scale of charts do you find is best? Exit strategy? etc. Anything else you direct me to would be very helpful, saving time and frustration :confused:

Many thanks
Steve
 
Hi

I bought Champion Trader Active (we learn by our mistakes!) when i first got into trading from Shiraz A Lakhi. I had CTA2003.

I now find that the e-book no longer works :cry: - and the www.tradingtrix.com website is now www.clickvolume.net. It would appear that Shiraz may have done a runner!

As I paid good money for it - I would like to retrive my investment.

Did anyone else encounter this problem?

How did you sort it?

Many thanks

jtrader.
 
Champion Trader by Shiraz A Lakhi

Hello "Monarch" in Wiltshire,
I have found this to be a universally robust and profitable trading system.I use it each day spread betting global indices. It is the only profitable system I have encountered over six years. It is simple and it works in all markets I have tried it in. The authors staking recommendations would be far higher than I would personally feel comfortable with at 20-25% or even 30% on "confident" trades. I prefer 2-5% of margin for staking and I have added a live tick by tick ADX indicator when Intraday trading to keep a very close eye on the prevailing trend. I use an hourly chart for entry as hourly signals have a high degree of integrity, but once I have entered into an intraday trade I then switch to a 5 minute candlestick chart. I have added three SMA , set at 5-10 & 20 minutes. I use a trailing stop and after I have won 20 clicks on an intraday trade in the FTSE100 Daily Cash , for example I close half of my position and tighten up my trailing stop until a retracement hits it or I decide to close and take my profit. Champion Trader is first and foremost intended for TRENDING MARKETS If the market is at all choppy, stay clear and do not enter.
Profitable trading.
Peter 36







monarch said:
This is an open question for comments and opinions please.

I have just received details of a trading system called

Champion Trader by Shiraz A Lakhi

it is a so called 4 step trading system which has shown regular profits.
Except for his own web site I can find no other reference to this.
I am aware this may just be another get rich quick scheme, but would like to find out more.

Has anyone seen, used, come across this, and if so is it any good?
Your comments would be welcomed.

thanks

Monarch
Click to expand...
 
Hi all, im new to the thread and also to trading, i bought the champion trader book about 2 years ago and completely forgot about it until the other day and after coming into some money im looking to invest a little of it. Im not looking to become a millionaire overnight but just want to earn a bit of extra cash every now and then. Im looking to get into spread betting as i feel i currently understand it the best and am loving a website which deals with it. The thing im having a problem with is identifying signals. Its something noone else seems to have a problem with so im a little embarrassed bringing it up but what the hell.

Whenever i go onto bigcharts.com as suggested i enter the name of the stock, eg uk:bp and i get the relevant chart. In the manual it tells me to look for a turning point on the EMV and when the stock hits the relevant number to trade. My problem is that even after looking at about 30 charts i dont see how i can get there early enough. Maybe its just because i havent been doing this long enough but if someone could tell me exactly how to identify a signal i would really appreciate it. My trading future depends on it.

Cheers
 
Hello P.McDee, Got your posting earlier today. The first thing to be aware of is that the Bigcharts data you are getting for the stock uk:BP is delayed data so unless the Time frame you are trading in is 3Months Quarterly futures market or something like that for which "End of day" or delayed data would be perfectly O.K.otherwise you are always going to be too late entering as the market and the spread quotation will have moved on in realtime ahead of you.Bigcharts provide realtime U.S.data but U.K.data is delayed. If I remember correctly, Champion Trader made reference to Simple Moving Average rather than the Exponential Moving Average . Email me at [email protected] and I will be happy to help you further , if I can. Regards, Peter 36
 
I bought all 3 manuals of his.........none of them work when tested over year.What you make short term you end up giving back in long term
 
Most traders lose money for the first six years just struggling to master the psychology . Profitable strategies, such as trading pull backs, in strongly trending markets, which is what Champion Trader explains, is a long established and well regarded strategy. The theory is the easy bit, the application requires discipline , it`s tough.
Best Regards,
Peter36.
 
Nothing to do with psychology.His method are mechanical.i e.a system that one does this when this happens etc etc.Taking into account spreads,slippage and his stops being hit incurring regular losses and having tested his method for 7 YEARS.....they show hardly any profits.At the end one felt like going round in circle....rather like a dog chasing its own tail.
 
Well now, puregold24carat, you have misunderstood the first sentence in my posting of 10:23 p.m. yesterday. In all probability you have also misunderstood how to trade pull back strategies which allow the market to decide ones actions and harvest consistent profits. It is simple. It is greed, fear, trying to anticipate the market, over trading, allowing profitable trades to turn into unprofitable trades, holding on to losing trades, closing potentially profitable trades too soon which allows traders who have not mastered the general psychology of trading to snatch defeat from the jaws of victory. The markets and the spread betting firms are not out to get you. It is all the self-defeating stuff in ones own head which creates the problems. I accept that one person will read a book and benefit from it i,e, make profits. Another person will buy the same book and derive no benefit but in spite of that will go on to buy a second and even a third book by the same author. We are all different. What more can I say. I am sorry to learn that you did not benefit, as others have from Mr.Lakhi`s trading manuals.
Best regards,
Peter36
 
I wish I'd been here at the begining of this discussion... alas, I wasn't, but here's my take on the CT Formula...

I was introduced to the CT Formula by a friend a few years ago. He lent me the book, which I read with interest, before opening a spread-betting account with TradIndex. In a matter of months I turned £20K into £50K on TradIndex's virtual 'player account' platform by trading CT signals on the FTSE 100, Nasdaq 100, S&P500 and Dow Jones.

I used BigCharts to identify signals and entered positions when the price on BigCharts penetrated the entry level. I couldn't use the prices on TradIndex as their 'future' prices were way different to BigCharts' prices. once I was in a position I added or subtracted (depending whether I was long or short) 1% to/from the price I had entered at and placed a limit order at that level to get me out. This worked a treat with the 'player account', and also with an 'investor account' with real money it it... right up to the point that I started to get nervous and started making silly mistakes which led to losses. If I'd stuck to the system I'd have done really well out of it for a year or more.

Things did change however. The system started failing when the market ceased moving enough to hit the target prices, and then there was the massive bull run which has recently stalled, in which I wasn't sure how to trade the CT Formula. I started using a 14 day RSI and only trading long if the RSI was above the 50 line and only trading short if it was below the 50 line, and that helped to filter out false signals, but it currently the CT Formula simply doesn't work like it used to.

It is an interesting and useful system though which can be built upon. One day I printed out the last ten years worth of BigCharts candlestick data for the S&P500, with six months on each of 20 A3 sheets, to see how the CT Formula would have performed. Very reliably is the answer. Only recently when the market has become less volatile has the opprtunity to hit targets of 1-2% movement from the 'get-in' price, as recommended in the book, been lacking. Of course, there have been many times when a much bigger target could have been achieved, though how this could be done without risking losing one's profits in the event that the market turns instead of merely pausing for breath, isn't clear to me yet. I have a lot to learn.

Whatever anyone else thinks of Shiraz A Lakhi and his CT Formula, it has certainly taught me some useful things and introduced me to ways of thinking which have been very helpful.

I'd be interested to get my hands on the CTA - if anyone has a copy they don't want...
 
MitchT said:
I wish I'd been here at the begining of this discussion... alas, I wasn't, but here's my take on the CT Formula...

I was introduced to the CT Formula by a friend a few years ago. He lent me the book, which I read with interest, before opening a spread-betting account with TradIndex. In a matter of months I turned £20K into £50K on TradIndex's virtual 'player account' platform by trading CT signals on the FTSE 100, Nasdaq 100, S&P500 and Dow Jones.

I used BigCharts to identify signals and entered positions when the price on BigCharts penetrated the entry level. I couldn't use the prices on TradIndex as their 'future' prices were way different to BigCharts' prices. once I was in a position I added or subtracted (depending whether I was long or short) 1% to/from the price I had entered at and placed a limit order at that level to get me out. This worked a treat with the 'player account', and also with an 'investor account' with real money it it... right up to the point that I started to get nervous and started making silly mistakes which led to losses. If I'd stuck to the system I'd have done really well out of it for a year or more.

Things did change however. The system started failing when the market ceased moving enough to hit the target prices, and then there was the massive bull run which has recently stalled, in which I wasn't sure how to trade the CT Formula. I started using a 14 day RSI and only trading long if the RSI was above the 50 line and only trading short if it was below the 50 line, and that helped to filter out false signals, but it currently the CT Formula simply doesn't work like it used to.

It is an interesting and useful system though which can be built upon. One day I printed out the last ten years worth of BigCharts candlestick data for the S&P500, with six months on each of 20 A3 sheets, to see how the CT Formula would have performed. Very reliably is the answer. Only recently when the market has become less volatile has the opprtunity to hit targets of 1-2% movement from the 'get-in' price, as recommended in the book, been lacking. Of course, there have been many times when a much bigger target could have been achieved, though how this could be done without risking losing one's profits in the event that the market turns instead of merely pausing for breath, isn't clear to me yet. I have a lot to learn.

Whatever anyone else thinks of Shiraz A Lakhi and his CT Formula, it has certainly taught me some useful things and introduced me to ways of thinking which have been very helpful.

I'd be interested to get my hands on the CTA - if anyone has a copy they don't want...
Click to expand...
Hello MitchT,
I consider Champion Trader risk and money management very dodgy, for example on page 121 the author states that he commits 25% or more of his capital in a single trade. a very reliable way of blowing ones margin I would think. Champion Trader is a rather long winded explanation of " pull back" system trading readily available free on the Internet. The author does not explain that a strongly trending market is required or how to determine. when a market is trending srtongly in the appropriate time frame.Once you lose confidence in a strategy and start to depart from it, it signals the beginning of the end. It is far more difficult to make money day trading as in Champion Trader Active, than it is when trading the quarterly Futures. When I hear of anyone increasing 20K to 50K in just a few months ...I think...wait for the crash, far too much risk to be sustainable.. Take care, Peter36
 
Hi Guys, I purchased champion Trader many tears ago and then requested a refund, I never like paying for these things. I got my money back and kept the book. I remember that I opened a 'Bet on Markets' account and used to trade Barrier / No touch on the FTSE. I remember that I made a modest profit but not a fortune. I did however close the account and moved on to Financial Fixed Odds Betting. I still use the basics of Champion Trader and find this a very easy wat to pass the time.
My wife and I take three or four continental holidays a year, all paid for by profits from my investments. I do not know if CT is still available but I thought it was well worth the money.
 
bobin said:
Hi Guys, I purchased champion Trader many tears ago and then requested a refund, I never like paying for these things. I got my money back and kept the book. I remember that I opened a 'Bet on Markets' account and used to trade Barrier / No touch on the FTSE. I remember that I made a modest profit but not a fortune. I did however close the account and moved on to Financial Fixed Odds Betting. I still use the basics of Champion Trader and find this a very easy wat to pass the time.
My wife and I take three or four continental holidays a year, all paid for by profits from my investments. I do not know if CT is still available but I thought it was well worth the money.
Click to expand...

I liked the manual too and ended up buying the whole company out .:cheesy:
 
I never like paying for these things. I got my money back and kept the book
Click to expand...

I do not know if CT is still available but I thought it was well worth the money.
Click to expand...

So you stole it and now claim that paying nothing was well worth the money, I expect everyone who obtains goods by theft has the same view.


Paul
 
I have just come across a copy of this system in a charity shop! I did buy it for £2.50 and felt good in the fact it would have gone to a better cause than lining what would seem to have been a very unsatisfactory author to many. I do remember Mr Lakhi's adverts in the Exchange and Mart (United Kingdom) back as far as 1999-2000 when he was competing with a company called FTS based in Porlock (United Kingdom) both claiming you could earn £500 a week. He apparently attended the FTS course and eventually decided to go at it alone by producing his own saleable product at a third of the price. It is interesting as I do remember that when in those days you had to request information on anything like that you would be sent promotional info through the mail. Champion Trader's contained testimonials saying things like " I have also tried ### who also advertise in the exchange and mart and their course is not so good" …..there are others, but one was able to make a quick judgement of these hopefully. To me at the time it sounded like someone who had attended the FTS course and not done well as a result. This would more than likely be due to the fact that he did not posses or have the temperament to be a speculator and trader.
 
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