Hi there!
I bought the ebook mid of January and I'd like to report my experience up to now.
I try to be the more objective I can and just give my point of view on the system as a whole.
My P/L is currently a red figure but I also made some mistakes not following the entry rules 100%.
I believe the substance is one and only one. It comes from math facts:
You're all talking about a 5 pts stop loss but please note that inside the ebook a 6 pts stop is recommended by the author.
So, if the target is 2 pts and the stop 6 pts then R/R is 1/3.
This means that the expectancy of the system is 0 when:
(avg win X % winnin trades) + (avg loss X % losing trades) = 0
With 1 contract this translates into: (100$ X 0,75) - (300 x 0,25) = 0
In other words the system needs to be right (system accuracy) AT LEAST on 75% of times. But this is not enough... We have to consider commissions. With the incidence of commissions, in MY CASE the system needs to be right on 78% of trades at least.
So, the point is: according the performance showed in the last 6 months on the site (accuracy above 85%), no doubt we end up winning. But, like me, if you entered late January and you have a performance of about 76% you end up loosing... So am I in a kind of drawdown and just need to hold on?!?
Conclusion: I'm not a seasoned trader so I cannot bring my past experience but I read many (I mean over 40) books and in no one of them It is stated that the accuracy of a GOOD trading system may reach 65%/70% over the long run. So I'm a little worried... But I also know that the secret to be winner in the long run is to to try to have an edge (even little) and stick with the system in a religious way. The more we change and jump from one ssytem to another the least we last on the market... The point is: does this system have an edge?!? We would need a track record over, say 4-5 years and not only 6 months...
Hi there!
You're all talking about a 5 pts stop loss but please note that inside the ebook a 6 pts stop is recommended by the author.
The videos show 5 pts!
5 or 6, either is too high, has anyone tried smaller stops? for real or in back testing.
:?:
Hi there!
I bought the ebook mid of January and I'd like to report my experience up to now.
I try to be the more objective I can and just give my point of view on the system as a whole.
My P/L is currently a red figure but I also made some mistakes not following the entry rules 100%.
I believe the substance is one and only one. It comes from math facts:
You're all talking about a 5 pts stop loss but please note that inside the ebook a 6 pts stop is recommended by the author.
So, if the target is 2 pts and the stop 6 pts then R/R is 1/3.
This means that the expectancy of the system is 0 when:
(avg win X % winnin trades) + (avg loss X % losing trades) = 0
With 1 contract this translates into: (100$ X 0,75) - (300 x 0,25) = 0
In other words the system needs to be right (system accuracy) AT LEAST on 75% of times. But this is not enough... We have to consider commissions. With the incidence of commissions, in MY CASE the system needs to be right on 78% of trades at least.
So, the point is: according the performance showed in the last 6 months on the site (accuracy above 85%), no doubt we end up winning. But, like me, if you entered late January and you have a performance of about 76% you end up loosing... So am I in a kind of drawdown and just need to hold on?!?
Conclusion: I'm not a seasoned trader so I cannot bring my past experience but I read many (I mean over 40) books and in no one of them It is stated that the accuracy of a GOOD trading system may reach 65%/70% over the long run. So I'm a little worried... But I also know that the secret to be winner in the long run is to to try to have an edge (even little) and stick with the system in a religious way. The more we change and jump from one ssytem to another the least we last on the market... The point is: does this system have an edge?!? We would need a track record over, say 4-5 years and not only 6 months...
So JP, why no trial available?
Why deny prospective customers the opportunity to test the product?