Bigbusiness
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mug2k
All we have seen so far is a back test that might not mean anything as nothing has been allowed for spreads and slippage. I didn't think the results were that good anyway. We have seen a few trades that have moved from intra-day to EOD and the range of indicies has been cut.
So I think your statement above might not be 100% accurate
Its my system and its my website, if you had taken the time to subscribe to my updates you would have been informed well in advance to whats going on.
Obviously you guys must have systems that can earn a lot more than mine, but not with the ease and minimal effort needed to work it. I need only 10 minutes a day to run my system. Can you do that and still make a profit?????
As for spreads and slippage the spreadbet companies work there books so when a market is falling or rising the prices reflect that. e.g
The DAX is trading at say 4200 EOD. Its +50 for the day.
A typical spread would be March Dax 4220-4228 this is quite the norm.
So my system triggers a sell EOD we get in at 4220.
Over the next week or so the market is trading at 4100 and -25 for the day.
The quote would be March DAX 4080-4100 or even 4070-4090
I give the buy trigger at 4100, you get in at 4090.
What this all means is my winning trade was 100 but in fact youve gained 130, no slippage and you've just the spread to take off, youve got 122 point gain, whereas my system showed only 100
SMK
This has been the case all along
Look at my current trade sell DAX at 4004, the spread was 4024-4032 at the EOD on the March futures.
Im being quoted as we spreak with Cantor 3999-4009. and the market closed at 4016 on Friday, already its moving in my favour and we are just getting started on this new trade
Obviously you guys must have systems that can earn a lot more than mine, but not with the ease and minimal effort needed to work it. I need only 10 minutes a day to run my system. Can you do that and still make a profit?????
As for spreads and slippage the spreadbet companies work there books so when a market is falling or rising the prices reflect that. e.g
The DAX is trading at say 4200 EOD. Its +50 for the day.
A typical spread would be March Dax 4220-4228 this is quite the norm.
So my system triggers a sell EOD we get in at 4220.
Over the next week or so the market is trading at 4100 and -25 for the day.
The quote would be March DAX 4080-4100 or even 4070-4090
I give the buy trigger at 4100, you get in at 4090.
What this all means is my winning trade was 100 but in fact youve gained 130, no slippage and you've just the spread to take off, youve got 122 point gain, whereas my system showed only 100
SMK
This has been the case all along
Look at my current trade sell DAX at 4004, the spread was 4024-4032 at the EOD on the March futures.
Im being quoted as we spreak with Cantor 3999-4009. and the market closed at 4016 on Friday, already its moving in my favour and we are just getting started on this new trade
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mug2k said:
Let's not get carried away here. If you recall, your Dax sell is dated Wednesday 7 January at 4004.
So by all means quote what the price is two days later. However, that does mean having to stomach a significant paper loss in the meantime, as on Friday 9 January the high on the Dax was 4073.
Using your oft-quoted £10 a point, are you therefore suggesting that everyone should be prepared to ignore a £700 drawdown?
Have you actually taken out a real trade on the Dax based on your January 7 sell signal? If so, when did you do it and what fill did you get? (I'm not interested in knowing how much per point it was, in case you were wondering.)
My trades usually last around a week or two anyway Skimble, so the current trade is just starting to come good. I admit im not the best trader in the world (drawdowns sometimes happen, its just a part of trading) but aslong as it comes good as a overall trade I cannot see the problem. Maybe my current trade will become a loser (so what) im looking to make gains (overall) which is the whole point of a system.
By the wayy system is made to be traded blindly, its not a good idea to check your profit and loss figures all the time or obviously a drawdown of 70 points will scare you.
It works anyway and thats what counts (NOTHING ELSE REALLY MATTERS)
SMK
I was simply answering Bigbusiness as he had stated that my back-test wasnt any good as Ive not accounted for slippages and spreads. Im answering questions! Isnt that what I'm supposed to be doing here.
Also when I say £10 per point, obviously your bank would be 10k as my rules state to use 1/1000th of capital as stake money. Ive already given a 101 point gain on the DAX so YES, you should be able to stomach a £700 drawdown but I dont expect my followers to pull-out as a system is a sytem you either follow it properly or not at all to be sucessful.
I refuse to discuss my personal trading over the internet, maybe to a few trusted friends
By the wayy system is made to be traded blindly, its not a good idea to check your profit and loss figures all the time or obviously a drawdown of 70 points will scare you.
It works anyway and thats what counts (NOTHING ELSE REALLY MATTERS)
SMK
I was simply answering Bigbusiness as he had stated that my back-test wasnt any good as Ive not accounted for slippages and spreads. Im answering questions! Isnt that what I'm supposed to be doing here.
Also when I say £10 per point, obviously your bank would be 10k as my rules state to use 1/1000th of capital as stake money. Ive already given a 101 point gain on the DAX so YES, you should be able to stomach a £700 drawdown but I dont expect my followers to pull-out as a system is a sytem you either follow it properly or not at all to be sucessful.
I refuse to discuss my personal trading over the internet, maybe to a few trusted friends
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Skimbleshanks said:
mug2k said:
I'll take that as a 'No', then.
I still dont get what ur going on about mugsy
If the system is so brilliant get on using and amassing ur fortune and allow those of who want to put in a bit of work at what we are doing get on with making ours-why waste time going on about it here when u know by now surely that its just going to be continually pulled apart-unless of course ur trying to run a scam
If the system is so brilliant get on using and amassing ur fortune and allow those of who want to put in a bit of work at what we are doing get on with making ours-why waste time going on about it here when u know by now surely that its just going to be continually pulled apart-unless of course ur trying to run a scam
Skim
For someone who doesn't like Mug's trades you're posting a hellova lot on this thread. I find it so difficult to understand why if anyone doesn't like or agree with the trades that they are posting so voraciously here. Why not just ignore the thread??? Such oppostion usually has the opposite meaning.
T2w is turning into a very immature site recently, its more like an old womens coffee morning !
I personally like mugs trades and am quite capable of making up my mind on the entire thing without resorting to senseless bickering.
For a moderator you're being very immature and its not setting a good example to prospective members.
Jane
For someone who doesn't like Mug's trades you're posting a hellova lot on this thread. I find it so difficult to understand why if anyone doesn't like or agree with the trades that they are posting so voraciously here. Why not just ignore the thread??? Such oppostion usually has the opposite meaning.
T2w is turning into a very immature site recently, its more like an old womens coffee morning !
I personally like mugs trades and am quite capable of making up my mind on the entire thing without resorting to senseless bickering.
For a moderator you're being very immature and its not setting a good example to prospective members.
Jane
On the contrary, I believe anyone who has an opinion which will give the unsuspecting reader of these threads, more information with which to make decisions has got to be good. Moderator or not.
A simple example is the reference to being able to "stomach" a drawdown of 700pounds on a 10K a/c. Clearly the Mugs approach to losses is literally based on gut feeling, which seems to be completely arbitrary and has scant regard to protecting capital. This is 7% of capital - not such a good example really! And clearly the message is that success might be judged on someones ability to stomach even larger losses!
"It's my system and it's my web-site" as quoted by Mug. Well your site might well be yours, but this is a PUBLIC forum, and as such I for one am very glad to see the PUBLIC being informed in this way. At least in a moral sense if people do not have the foresight to read the messages being sent then they really should just get in line and follow the Pied Piper!!!!!!!!!
Cheers
Quercus
A simple example is the reference to being able to "stomach" a drawdown of 700pounds on a 10K a/c. Clearly the Mugs approach to losses is literally based on gut feeling, which seems to be completely arbitrary and has scant regard to protecting capital. This is 7% of capital - not such a good example really! And clearly the message is that success might be judged on someones ability to stomach even larger losses!
"It's my system and it's my web-site" as quoted by Mug. Well your site might well be yours, but this is a PUBLIC forum, and as such I for one am very glad to see the PUBLIC being informed in this way. At least in a moral sense if people do not have the foresight to read the messages being sent then they really should just get in line and follow the Pied Piper!!!!!!!!!
Cheers
Quercus
jslee said:
Couldn't agree more, which is why this thread should be removed. It is advertising pure and simple.
And what a product. We've got a guy who didn't know anything about trading a month ago, who (by his own admission could only afford trades of 50p a point),now proclaiming he has a fail safe system, which has no stops and forces you to take losses of hundreds, possibly thousands of pounds. But, hey, it will work in the long run, despite the fact that the testing system is completely flawed and suffers from the worst case of overfitting I've ever seen. But that wont matter because the SB price will always miraculously make you even more money.
We've had the original trades voided after they all went wrong; the entire system changed fron intraday to end of day,all within days of the start, every index under the sun posted and then withdrawn, leaving us with only the Dax,which was all we were meant to trade anyway. Oh,and there has been no forward testing because mugsy will only tell trusted friends whether he actually trades his own system or not.
Apart from that it looks really good.
PS:Mugsy also has a perpetual motion machine for sale if anyones interested.(But dont ask him any questions about it as hes too busy, and you know it works and you're just jealous.)
On the contrary these posts are excellent. They illustrate why no-one should ever buy a system, as Quercus and Quint have pointed out all the leaky holes designed to empty an account. Dont forget the Dow trade that was removed. It was down £1400 before being removed.
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