ftse 100 trading.com

Hi adalat,

Thanks for coming back on that, I was curious about the connection.

Like you I have no particular axe to grind, my experience with FTSE100trading.com cost me nothing in net terms and just watching "David" and the other traders on the forum (seemed to be 30-40 online most days though many didn't chat) was educational in itself.

I signed up out of: 1) curiousity to see if the performance was genuine - I figured it was a cheap deal if true; and 2) because I wanted to see how he worked using the really tight stops claimed. Overall neither claim held up 100% but neither is an outright lie either. My opinion is that it's OK if you can operate that way and should make some profits over time if you are very disciplined, just not quite the riches that the quoted performance somehow implied (at least to me, anyway!).
 
I've been trading the ftse 100 for 2 years and I've been subscribed to ftse100trading for over 6 months. This is a skype based system where David posts his trades and the reasons for them in advance. The trades can be at very short notice, so you need to be able to monitor it quite closely. I do this full time and his advice and technical analysis has been useful to me.
It can take a bit of time to get get comfortable with his trading style, but there is no doubt that it works over time.
You won't be able to achieve his performance because you won't get every system trade that he calls, but when he's achieving over 1000% a year, who cares !

DG
 
From Ftse Man...Recieved email from him yesterday..if this helps any one so be it

Today's ideal target was to reverse long at 5396-5400 and exit at 5413 I did that twice slightly different prices. Many people got burnt today....but none of my members fortunately. I can hopefully stop you losing money. If you joined in the first year and a half of when I started up then 2000% profit was there to be had. I am now much more cautious then before. Although I am still making the same percentage on the original starting pot but the amount used per point is now up to £50 per point ( usually £25) instead of £5 which soon moved up to £10 in year one. I have one member that just uses £1 per point whilst learning with me. He is happy if he makes £100 a month and free learning instead of the constant losing he had before. I hope that explains things for you.

Regards,

David
 
Hi guys,

I'm very new to this game. Have been working as a software developer on the trading floor before, so at least not totally clueless.

This was a very bad week to decide to start playing the fields.

As for the ftse100trading...decided to take one more chance and subscribed now and hoping to recover my weeks' losses (and monthly sub :) ) - happy to provide feedback
 
Avoid this guy if possible!

1. I know videos are good, well, anyone can read a good book and claim he follows rules in it
2. The guy is saying "Never add to a loosing position" but in fact he likes doing it
3. There is no forum or anything like that, he is complaining about hackers LOL. With 70+ members that is £7500 per month he is not able to run a simple forum...
4. He does not have time to explain you anything, most of the times you'll see answers like: I will explain it later, I have to go see you next time, or the answer is given in a way you don't understand it
5. Results are cheated, once there was a big loosing trade magically turned to be profitable - well, my account does not allow such a trick
6. He is an alcoholic to me, he constantly talks about alcohol even if it's 8am

So please don't waste your money as I did! I have stopped trading with his signals after second day when he added to loosing trade again, and cheated on results!

I know I am new here, but I have opened the account just to warn you!
 
Hi fropro,

Don't know about the alcohol but for the time I was a subscriber, it was certainly true that David often added to losing positions, as well as moving the initial stop wider on many occasions.

Both these practices rather destroy any sensible money management & risk control strategies that you place on a trade. This lack of discipline and risk control was the basic reason I quit.
It's a pity because his core trading philosophy is not stupid by any means.

Also, I equally had trouble in always being able to reconcile the end-of-day reported results with what I had followed in real time trading during the day; I did feel there was some positive massaging of the true trading result.

Hope that helps
 
Hi Bacchus85,

Thanks for your comments, so I am not the only one who left for the same reasons...
 
Hello friends.........sneha here,,,,,,,,,,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...
Thank lot for posting...........
 
I tried ftse 100 trader for 1 month, it was hard for me to follow his trades as they are always between 8 and 9.30 in the morning, and I was on my way to work at those times, but his general philosophy was good, if you stick to the rules strictly. I am now just trading the ftse 100 on a practice account for as long as it takes me to start making profits each month. One thing he does recommend is to not trade with real money, to practice for about 1 year.
One thing that has helped me more than subscribing to ftse100 trader is a book by Josh Lukeman called "The Market Makers Edge. A Wall St insider........".
 
Complete scam artist by all measures, avoid like the plague ! Click on link, FSA warning about boiler room scams, and he's right up there under the "F"s.

Search
 
I've not seen anything to say it's a scam or dishonest. However, a few months ago I started getting emails along the lines of, "re-join for half price", and then some more recommending a particular spread betting firm (where I assume he receives commission for every referral).

Again there's nothing wrong with that, but if his system where as successful as is claimed then why is he going to the effort of trying to entice ex-subscribers back? It's one thing to offer a service to help newer traders and to charge a reasonable monthly amount for the time he spends doing this (as a side line), but I got the feeling that he needs the money that the subscribers bring in, which wouldn't fill me with confidence that he actual makes money with his system. I don't see why he doesn't publish historical records at say the end of each month?

With regards the FSA warning, if I'm reading it right it just says the FTSE100trading is not regulated by them to give investment advice. If this is a problem then surely every trading room, signal service etc would need to be FSA approved? Treat his service as educational (which it is) and I don't see a problem there.
 
JackieStewart said:
With regards the FSA warning, if I'm reading it right it just says the FTSE100trading is not regulated by them to give investment advice. If this is a problem then surely every trading room, signal service etc would need to be FSA approved? Treat his service as educational (which it is) and I don't see a problem there.
Click to expand...

He is not permitted to give investment advice, nor are the others. Most of them get away with it by claiming its educational, obviously someone reported him.
 
"This warning list includes unauthorised overseas firms that the FSA has received complaints about in respect of their activities and/or the FSA has reason to believe they are involved, or have been involved in, activities that contravene section 19 and/or 21 of FSMA.

Such firms are often involved in ‘boiler room’ activities and pose a high degree of risk to consumers. They frequently engage in tactics including cold-calling members of the public offering shares that later turn out to be worthless or high risk. The callers can be very persistent and extremely persuasive. If you are cold-called by an unauthorised overseas firm in relation to stocks or shares, you should be extremely careful. If you are contacted in such a manner, the FSA advises that you simply terminate the telephone call – the most effective protection against such unauthorised firms is to have nothing to do with them.

The list of unauthorised firms is by no means exhaustive as new names are regularly added. The absence of a firm’s name does not necessarily mean they can be safely dealt with. Consumers need to be aware of the dangers that are posed by such unauthorised entities."


You need to actually read the text of the FSA warning. There are several firms offering trading tips in an educational capacity, who have no difficulty with the FSA whatsoever, this scamster has been blacklisted by them with very deliberate intent to warn of the dangers, and I can vouch for the validity of the warning, steer well clear !
 
trades with demo account....whilst his followers used hard earned cash.. no stops, but margin calls a plenty
 
The thailand based schmoozer likes to get his members signed up to a rebate/referal "company" called livescalping.
Rather conveniently , livescalping, are also based in sunny thailand

So, when you inevitably lose your pot(s) (almost seems a rite of passage in this room), at least you get a rebate. Its not as much as you can get with other
referall/rebate outfits.. but its better than nothing.


remember ...never a losing day...

frank-carson-03.jpg
 
A lot of members have left when David admitted he was using a demo account. With the stop-less positions he took he would have had to have a 500k account with FXCM. He would get a run of winners, which is him basically taking loads of positions with no stops and +1 limits and say "I better slow down as don't want to take too much money from them." I'm sure they care about their demo money...

He constantly tries to channel people into livescalping.com and pretends he isn't affiliated to it. Of course he makes the referral to FXCM who pay him X % of the spread and he then 'rebates' his customers a much smaller %.
 
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