JackieStewart
Newbie
- Messages
- 7
- Likes
- 1
I'd seen and been impressed by the youtube videos, but could find very few indepenant opinions. However, I took a chance and joined up for a month at the start of July. I can say it's definatly not a con. However, I didn't renew my subscription after the month ended - for the follwoing reasons:-
1) It didn't suit my style of trading. The system is very short term - you can spend a couple of hours waiting for the price to reach a certain point, which is very dificult if you have a day job - you really have to be sat in front of the screen.
2) Most of the trades have a 10 point stop - which is moved to breakeven when +10 in profit. Not all spreadbet companies let you place stops that close. Also, these tight stops mean that when you do actually enter a trade you often get stoppped out (albeit at break even). Because of this the entries have to be very precise which means you often spend 1/2 an hour wathcing the price hover just a couple of points away from the entry only to move away again, or if the entry is hit, you then get stopped out at b/e. After a few days of this I kind of lost interest.
3) The actual system is run through a Skype chat window which works fine. However, in my case there was no info on what the actual "system" was - it was just an entry price with "buy" or "sell" called out before hand. I'd joined up to learn HOW and WHY these trades were choosen but all I really got was "sell 4428" as an example.
Would I recommend FTSE100trading.com to a friend? No. But it is a genuine site, and if there were more background info on why these trades were made then I may change my mind.
1) It didn't suit my style of trading. The system is very short term - you can spend a couple of hours waiting for the price to reach a certain point, which is very dificult if you have a day job - you really have to be sat in front of the screen.
2) Most of the trades have a 10 point stop - which is moved to breakeven when +10 in profit. Not all spreadbet companies let you place stops that close. Also, these tight stops mean that when you do actually enter a trade you often get stoppped out (albeit at break even). Because of this the entries have to be very precise which means you often spend 1/2 an hour wathcing the price hover just a couple of points away from the entry only to move away again, or if the entry is hit, you then get stopped out at b/e. After a few days of this I kind of lost interest.
3) The actual system is run through a Skype chat window which works fine. However, in my case there was no info on what the actual "system" was - it was just an entry price with "buy" or "sell" called out before hand. I'd joined up to learn HOW and WHY these trades were choosen but all I really got was "sell 4428" as an example.
Would I recommend FTSE100trading.com to a friend? No. But it is a genuine site, and if there were more background info on why these trades were made then I may change my mind.
markbritton
Junior member
- Messages
- 35
- Likes
- 1
Thats disappointing. I had viewed the Youtube videos as well. Was considering joining up for a month and trying it out. I fancy trading for a couple of hours every morning but you really need to see WHY he is making the trades. Guess thats why you pay the £100 per month otherwise you would be doing it yourself instead of paying David.
Oh well, back to the drawing board!
Oh well, back to the drawing board!
JackieStewart
Newbie
- Messages
- 7
- Likes
- 1
I agree, the youtube videos are good and I hoped if I joined I'd get similar but in more depth. Really I think I learned more from the videos.
However during the time I was signed up, his website was down and so the only interaction was on Skype. He mentions in his videos that his site keeps getting "hacked" and it was dead whenever I tried to get on. Seems it's back now and under the FAQ section it says...
"Question: What exactly am I paying for and what can I expect from ftse100trading.com.
Answer: It is for the subscription to ftse100trading's forum. Here ftse100trading helps to explain all the pitfalls of trading that so many traders fall into and I show exactly how the system works, the ins and outs of trading and publish all expected trades, before, as and when they occur. I will share all my trading knowledge with you and show you how I draw my charts and how to constantly update them throughout the day. They will show clearly how entries and exits are arrived at before they occur. It is a place where experienced and new traders can share their knowledge and hopefully by pulling together can improve their trading skills."
This is just what I was hoping for but as I say, I wasn't able to get any of this info.
Only thing I'll add while I'm here is that you need a broker that quotes the FTSE 24 hours a day as if they only do 8am-4.30pm or 8am-8pm then the charts will not match those in the chat room meaning trend channels and s/r lines won't match those the FTSE100 system is using. They were using ODL Markets charts when I was on in July.
However during the time I was signed up, his website was down and so the only interaction was on Skype. He mentions in his videos that his site keeps getting "hacked" and it was dead whenever I tried to get on. Seems it's back now and under the FAQ section it says...
"Question: What exactly am I paying for and what can I expect from ftse100trading.com.
Answer: It is for the subscription to ftse100trading's forum. Here ftse100trading helps to explain all the pitfalls of trading that so many traders fall into and I show exactly how the system works, the ins and outs of trading and publish all expected trades, before, as and when they occur. I will share all my trading knowledge with you and show you how I draw my charts and how to constantly update them throughout the day. They will show clearly how entries and exits are arrived at before they occur. It is a place where experienced and new traders can share their knowledge and hopefully by pulling together can improve their trading skills."
This is just what I was hoping for but as I say, I wasn't able to get any of this info.
Only thing I'll add while I'm here is that you need a broker that quotes the FTSE 24 hours a day as if they only do 8am-4.30pm or 8am-8pm then the charts will not match those in the chat room meaning trend channels and s/r lines won't match those the FTSE100 system is using. They were using ODL Markets charts when I was on in July.
markbritton
Junior member
- Messages
- 35
- Likes
- 1
Interesting - I'm going to e-mail David and ask more about what knowledge is passed on. I currently trade the breakout of Cable early in the morning and thought that trading FTSE would compliment this. I like to be out of the markets early in the morning because of work committments.
Incidentally, did you make any money whilst a member or did you just get bored and leave it alone - I notice he has a money back guarantee!
Incidentally, did you make any money whilst a member or did you just get bored and leave it alone - I notice he has a money back guarantee!
JackieStewart
Newbie
- Messages
- 7
- Likes
- 1
In that case it could suit you well. I decided that in my current situation I stood a better chance by watching a few forex pairs during the day on longer time frames.
I think the FTSE system style could work well with forex, the trick would be to get the entries precise enough to have such tight stops. That's what I'm currently working on - and so I can't given up the day job just yet!
JackieStewart
Newbie
- Messages
- 7
- Likes
- 1
I decided that I would only trade if I could see WHY the trades were called. I also could really only have one eye on the Skype window at work so couldn't really keep track of all the calls. I did make one trade on the FTSE based on the same tech analysis as the system, but this was off my own back. I think to qualify for the money back you have to follow all calls for that month.
Oh by the way, I joint T2W rather quickly, I note it calls me a ''Newbie'' I am an ex LIFFE floor trader and option market-maker and have been trading since 93 on and off. I have taken the last three years out after being puffed into a short premium ftse option style of trading and when the market went crazy I was wiped out big time (a re-mortgage job) but now I am back with a 10 point stop at all times !!!!!
and looking just to make a crust or two when sitting around the pool in France, ok I can dream.
and looking just to make a crust or two when sitting around the pool in France, ok I can dream.I remember i use to check up on his profit or loss figures on his ex site which was at http://www.mmms.org.uk/ {which no longer exists}.
he use to go by the name of, Craig. A few months back there was a message left on his closed site to the effect that" because the system has proved unprofitable, sadly its not viable to carry on using it.
i see he is using the name DAVID, on his new site, which may be his first name, but beats me there is no mention of mr.craig. I will try and dig out a bit more on this.
he use to go by the name of, Craig. A few months back there was a message left on his closed site to the effect that" because the system has proved unprofitable, sadly its not viable to carry on using it.
i see he is using the name DAVID, on his new site, which may be his first name, but beats me there is no mention of mr.craig. I will try and dig out a bit more on this.
Last edited:
here is a bit more... got nothing against the guy... but something seems fishy.
MMMS Service Close
Posted on Tuesday June 2nd, 2009 at 16:02
Hi all, My FTSE 100 service has closed due to the system not providing a profit any more. I will soon be providing an S&P service for FREE on this blog. Refunds Refunds were made to members who joined in March and April as they were losing months and an...
http://www.blogcatalog.com/blogs/my-money-maker-systems.html
MMMS Service Close
Posted on Tuesday June 2nd, 2009 at 16:02
Hi all, My FTSE 100 service has closed due to the system not providing a profit any more. I will soon be providing an S&P service for FREE on this blog. Refunds Refunds were made to members who joined in March and April as they were losing months and an...
http://www.blogcatalog.com/blogs/my-money-maker-systems.html
yellowbelly
Newbie
- Messages
- 1
- Likes
- 0
He seems totally genuine to me. The videos are a great teaching tool. But then I found this. The company was shut down in Jan 2009. Now that maybe becuase he has not dotted the i's and crossed the t's.
http://www.fsa.gov.uk/pages/Doing/Regulated/Law/pdf/ftse100.pdf
FTSE100TRADING.COM
is not authorised under the Financial Services and Markets Act 2000 (FSMA) to carry on a regulated activity in the UK. Regulated activities include, amongst other things, advising on investments. “Investments” include stocks and shares, debentures and bonds and futures and options. The FSA believes that the firm may be targeting UK investors.
http://www.fsa.gov.uk/pages/Doing/Regulated/Law/pdf/ftse100.pdf
FTSE100TRADING.COM
is not authorised under the Financial Services and Markets Act 2000 (FSMA) to carry on a regulated activity in the UK. Regulated activities include, amongst other things, advising on investments. “Investments” include stocks and shares, debentures and bonds and futures and options. The FSA believes that the firm may be targeting UK investors.
That explains the shutdown.... thanks for the update, yellowbelly
B
Bacchus85
Hi all,
I tried the FTSE100trading.com for a month earlier this year. It is a genuine Skype-based forum where "David" shows you his market calls, mostly based on Fibonacci & trend channels. It is generally very short term and with tight stops that result in a lot of breakeven trades.
He says he is based near Bangkok so, Scoptions, why do you think France?
And Adalat, how do you make the connection between him and "Craig" at MMMS?
He also claims the FTSE100trading.com site has been going since Nov 2007 so how does that fit in with all the other comments about sites & location etc.?
Hope that helps to shed some more light
I tried the FTSE100trading.com for a month earlier this year. It is a genuine Skype-based forum where "David" shows you his market calls, mostly based on Fibonacci & trend channels. It is generally very short term and with tight stops that result in a lot of breakeven trades.
He says he is based near Bangkok so, Scoptions, why do you think France?
And Adalat, how do you make the connection between him and "Craig" at MMMS?
He also claims the FTSE100trading.com site has been going since Nov 2007 so how does that fit in with all the other comments about sites & location etc.?
Hope that helps to shed some more light
Last edited by a moderator:
I thought France because of his utube profile and in one of his videos, he quoted 'I was cutting the grass and my wife came running out and told me that I had dealt' The only grass in Bankok is at Hotels or the Ambassadors House!!
So you made no money?
B
Bacchus85
Hi Scoptions,
Yes, made small money, he appears to average about 10 FTSE points per week profit. The actual trade outcomes vary as different weightings are applied to each trade depending on the size of the initial stop, e.g. this is 100% trade, 50% etc; the 100% being your personal unit size but it was coming out at about 10pts/wk on 100% equivalent size.
You really need to be with a spread betting platform that has 1pt spread as stops used are extremely tight once a position goes into profit - typically, once a 1pt profit is achieved (2pts gross, 1pt after the 1pt spread) the stop is set at breakeven & trade is left to run for 10-12pts or stopped out breakeven. Harsh, lots of breakevens, but works well enough to be fair.
Overall, just wasn't my style and most of the forum users (including "David" himself) indulge in many extra personal plays from the 'official' system ones, and these extras generally lost money consistently and/or took huge risks. I just wanted away from the temptation and I can do what the system does without paying £100 per month!
Yes, made small money, he appears to average about 10 FTSE points per week profit. The actual trade outcomes vary as different weightings are applied to each trade depending on the size of the initial stop, e.g. this is 100% trade, 50% etc; the 100% being your personal unit size but it was coming out at about 10pts/wk on 100% equivalent size.
You really need to be with a spread betting platform that has 1pt spread as stops used are extremely tight once a position goes into profit - typically, once a 1pt profit is achieved (2pts gross, 1pt after the 1pt spread) the stop is set at breakeven & trade is left to run for 10-12pts or stopped out breakeven. Harsh, lots of breakevens, but works well enough to be fair.
Overall, just wasn't my style and most of the forum users (including "David" himself) indulge in many extra personal plays from the 'official' system ones, and these extras generally lost money consistently and/or took huge risks. I just wanted away from the temptation and I can do what the system does without paying £100 per month!
Hello Bacchus85,
Re..Quote...
"And Adalat, how do you make the connection between him and "Craig" at MMMS?
I spread trade the FTSE. I am not an expert so i am always on the lookout for stuff relating to it, with a view to learning something from it...
Craig's original site MMMS, caught my attention at that time. It was interesting. So i started following its progress for a a few months. The figures looked good. If i remember correctly he had an offer of a one off fee of £50 for lifetime trade signals/ one trade daily. The only reason i didn't take it on was the 40 or 50 stop loss level.
I still kept a check on the profit loss figures on the site regularly. A few months later i noticed that on his site the £50 pound offer had been withdrawn, and replaced with a monthly subscription ( i can't remember how much exactly.. but about £40/50 monthly) he must have had a substantial following to change to a monthly subscription.
When i hit the subscribe button to just check, the link would take me to his new site..which was ftse100trading.. on there were all the profit loss figures and a better looking site than the one page original site..
I use to regularly check his new site and the old one. Thats how I strongly remember the link between the two. It was a few months down the line that on the original site he put up the notice that the system was unprofitable. the whole site vanished and also the blogs from the other blog sites he used to use.
I am not out to promote anybody or run down anybody.. just what i can remember about this guy.
Hope this helps.
Re..Quote...
"And Adalat, how do you make the connection between him and "Craig" at MMMS?
I spread trade the FTSE. I am not an expert so i am always on the lookout for stuff relating to it, with a view to learning something from it...
Craig's original site MMMS, caught my attention at that time. It was interesting. So i started following its progress for a a few months. The figures looked good. If i remember correctly he had an offer of a one off fee of £50 for lifetime trade signals/ one trade daily. The only reason i didn't take it on was the 40 or 50 stop loss level.
I still kept a check on the profit loss figures on the site regularly. A few months later i noticed that on his site the £50 pound offer had been withdrawn, and replaced with a monthly subscription ( i can't remember how much exactly.. but about £40/50 monthly) he must have had a substantial following to change to a monthly subscription.
When i hit the subscribe button to just check, the link would take me to his new site..which was ftse100trading.. on there were all the profit loss figures and a better looking site than the one page original site..
I use to regularly check his new site and the old one. Thats how I strongly remember the link between the two. It was a few months down the line that on the original site he put up the notice that the system was unprofitable. the whole site vanished and also the blogs from the other blog sites he used to use.
I am not out to promote anybody or run down anybody.. just what i can remember about this guy.
Hope this helps.
