Forex Cash Cow????

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hoppy5

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Hi, I am new to all this and wondering if anyone has tried "FOREX CASH COW" by Avi Frister? He has 3 different strategies he claims works. Anyone know or tried it and if so, your opinion and results? Thanks.
 
Is learning a strategy not proper? Isn't using what works a way to minimise losses? I did a fair bit of fossicking around the internet BEFORE even opening a Demo account, and am still learning, which is by the way a never ending process. Forex Cash Cow is NOT an automated programme, but a strategy using the characteristics of a currency along with history. Just asking if anyone has used it?
 
There are loads of strategies detailed on this forum and others. They can work; the trick is to understand how they work and when they are likely to fail. So, in the end, it still takes experience.
 
hoppy5 said:
Is learning a strategy not proper? Isn't using what works a way to minimise losses? I did a fair bit of fossicking around the internet BEFORE even opening a Demo account, and am still learning, which is by the way a never ending process. Forex Cash Cow is NOT an automated programme, but a strategy using the characteristics of a currency along with history. Just asking if anyone has used it?
Click to expand...

From my experience, people sell systems because:
1. They can’t trade themselves.
2. The system no longer works for them and so make money selling it.
3. The system simply doesn’t work.

All to often the systems look great on paper, you’ll see their examples and think “yea that’s it!”,
but do a forward test over a particular time period and you’ll see the profits are wiped out by the non-seen false signals.

Remember even a broken watch is right twice a day…

I’ve bought a few systems in the past like most people, but all they’ve taught me is how not to trade …
I learnt by reading and studying charts. Learn what each indicator means in terms of the underlying price.

Any case … these websites look to professionally built, ok professionally built is the wrong phrase, read the content of the sales pitch, when they keep repeating success phrases like,.. cash … your neighbours success … your success (or that your missing), Emotion-Free !!
Too many bullet points and snippets of success emails … ALL DESIGNED TO SUCKER YOU IN !!!!

I also think when you buy a system, and you see it doesn’t work … you then think maybe its me ?
Maybe I’m not smart enough to follow it through?
When really is complete rubbish.

No, wouldn’t touch it.
 
When you buy a system off the net, you obviously have to give over your email address.
So now I get tonnes of spam every day for the same system by different sources. All stating it’s their system and you have x amount of days to get it before they all run out.
And when you don’t buy from them after a week past their deadline (as they can only give away 500 copies for some reason), you get the old story “Our system went down because of the load of interest we had, so here’s another opportunity to get your hands on system X”
So obviously, either they didn’t sell the amount the wanted to or they’re milking the system for every last drop.

I find it quite interesting really how they all club together in these sales pitches.
It’s easy to trace websites to people and a lot of these different websites belong to the same group or affiliates, so what does that tell you???
They must be making some serious cash from the naive suckers out there … wish I was in on it!
 
Doesn't Work

hoppy5 said:
Hi, I am new to all this and wondering if anyone has tried "FOREX CASH COW" by Avi Frister? He has 3 different strategies he claims works. Anyone know or tried it and if so, your opinion and results? Thanks.
Click to expand...

Yes, I've read it and tested it and it simply does not work.

As a system developer, I know that many systems may only work for a short time - as long as the prevailing conditions continue.
 
hoppy5 said:
Hi, I am new to all this and wondering if anyone has tried "FOREX CASH COW" by Avi Frister? He has 3 different strategies he claims works. Anyone know or tried it and if so, your opinion and results? Thanks.
Click to expand...

It's an udderly useless system.
 
Thanks to those that have read and used it. I do confess to being a sceptic, which is why I asked. Sometimes there are 'things' posted on the net that DO work, it is a case of percentages. Anything below 60%- 70% is not worth it. Charts, yes information is there, interpretation is the KEY, it's just that we all interpret them differently as your results compared to each other will show. Wish my age would go down as quick as some of these currencies!!! Once again, thankyou to those who answered. So far the best/ most consistant results I have obtained have been from the Ichimoku chart. I feel for anyone who has lost on the Forex, which is another reason I wish to learn from their mistakes. No point in repeating them. (well intentionally)
 
hoppy5 said:
it is a case of percentages. Anything below 60%- 70% is not worth it.
Click to expand...

Completely DISAGREE. Newbie speak if I ever heard it.

Win/lose ratio is IRRELEVANT

What matters is your profit ratio.

I have seen countless "systems" with >70% win rates. Problem is they achieve this by holding onto their losers while taking small regular profits.

Works great for a while - then comes the point where 2 or 3 losers need to be closed out because the account runs out of margin and that's when the money disappears. Those few losers wipe out all the profits plus a bit extra.

On the contrary - a lot of winning systems have only 30%-50% win rates, but they are profitable because those winners run and run and achieve massive profits, and the losers are usually small and regular.

Trading via point and figure chart signals is one such method - only about 30% win rate, but it's profitable long term.

problem is newbie have no realistic view of what a trading system should do - they expect winner after winner and abandon systems as soon as there's a few losers in a row.
 
I agree, I've a day trade system that has about 40-45% win, but my average win far outways my average loss. So far anyway :) ... that percentage is more realistic I think. Getting your head around losing more times than you win is hard, .. try explaining to someone like your wife that you lose more than you win, doesn't go down well !
 
Well, I think you guys can put your toys back in the cot! I may be a 'newbie', but am sensible, realistic, and don't have those hormones to contend with. So far profits have risen, albeit slowly, (I am not greedy) have caught a few nice runs down, got caught on a couple of trades but all in all pleased. I don't use a system, but was curious to know about one. AND, there is no such thing as a winner after winner....NOT even a racehorse! I am sure intelligence peaks in cycles too. I like the lawyers 3 S's....Short, simple, sweet. Even a loss can be short, depends when you push the button! We all like lessening the odds of losing, no harm in that, nor asking. "Seek and ye shall find" Internet is here so I asked a SIMPLE question, thanks to one guy and his SIMPLE answer.
 
This thread was hilarious... Reading it put me in a good moood.
I think the best systems are the one you haven' t herd of .
 
The best system(s) are the ones that works for you. 2 people can trade the same system, one makes money, one doesent. Why? Because it just doesent "fit" the person who loses money. Remember you dont trade the market, you trade your BELIEFS about the market. In that regard, everyone is different. It takes time and patience to get there but once you find you niche, then things will start to work out for you. Good luck.
 
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