Ftse day trading system from piptastic

[COINMOUNTAIN]

100 points a week net of losers is a massive call for the ftse and one i find hard to believe.
The simple solution is for one of its followers to call a weeks for of calls out

Hi
I don't just trade the FTSE, i trade 6 currency pairs and the S & p.
Not all my trades are with piptastic live room.I trade with my own experience as well.
Some would say that a 100 pips net a week (20 pips a day) is low.
I trade at different times as some pairs work well in the evening and i enjoy my business as coinmountain on ebay.
regards Michael

 

[nidolap]

Is the live room open every days/evenings of the week?

Could you perform the same results working alone with the manuals information?

Thanks.

Hi Counmountain! You still didn't answer my question...

Thanks for the help!

 

[Adamus]

First moderate your language.The system works off pivot lines and this is explained in depth to the uniniated.

Michael,

taking your posts at face value you are obviously quite knowledgeable about Piptastic so it would be highly useful if you could give a bit more info about it - it's obviously a quality system if it can average 100 pips a week, but can you give us the drawdown figures as well - or any measure of risk.


regards
Adamus

 

[COINMOUNTAIN]

Hi Counmountain! You still didn't answer my question...

Thanks for the help!

hi
I should get paid for this,
last week the live room was open as follows
monday 9.15 weekly briefing
tuesday 9.15 to 11.45
wednesday 9.15 to 11.45
wednesday 6.15 to 9pm
thursday 2pm to 4.30 pm
thursday 6.15 to 9pm

The live room is very good and following the advice and chat in the room the
minimum achieved would be 100 pips.
It is not just the FTSE,also DAX,dow jones, s& p,gold and eur/usd.
Some of us(me included) also watch other pairs and trade at different times.
Some are in the room all the time, some like me pop in from time to time, depends on whether my other business or leisure time demand.
I prefer to trade part time.
Yes, you could achieve a level of success just from the dvds, it depends on risk aversion,the level of your bank, percentage risk.I always use a 22 pip stop loss
some might have 10p stop and others 50.
The psychology of trading is important and I know from personal experience that when i was trading 100 pounds a pip it made me physically ill, i now trade at a sustained level which i'm happy with and know i will able to trade whenever i want.
I also do not keep more than 2 positions open at any one time.
Start small what ever you do and see if you like it.
Success generally comes to people who enjoy what they do and persevere.
Not every trade is successful the best you can hope for is around 7/10 trades and cut your losses before they damage you.You can always move your stop to breakeven if you get a winner and move it again to guarantee a profit or take a profit at a preferred target.
95% of traders give up as they chase losses or gamble too much.#
Hope this all helps Michael:clap:

 

[Adamus]

Not every trade is successful the best you can hope for is around 7/10 trades and cut your losses before they damage you.You can always move your stop to breakeven if you get a winner and move it again to guarantee a profit or take a profit at a preferred target.

Have you or others tried automating it?

It does sound like there's a lot of discretion involved.

 

[COINMOUNTAIN]

I'm sure that some people do trade automatically with EA'S.I never would as have heard horror stories.
I monitor every trade i enter and place stop immediately.If i feel i've made a mistake i close out the trade.I also watch 4 hour and 1 hour trade before entry as THE TREND IS MY FRIEND i use interbank fx demo account for my charts and then trade with capital spreads/i g index depends on spread.
I trade with real money and the 2 companies i use enables me to have tax free earnings as its classed as gambling in the UK.
I take responsibility for my trades and would never leave it on automatic programme.
Thats my take.Others might have a different opinion.
Michael

 

[Adamus]

There are always horror stories - in every area, not just automated trading. You do what works for you. To set a program to run your trading system automatically, you obviously have to trust the computer. I've worked with computers as a programmer for 20 years now so I guess that's what I base my trust on. Of course there's always something in that old adage, "to err is human, but to really **** things up takes a computer".

My biggest worry with automated trading is the internet connection and the reliability of my modem, my BT line and the local exchange.

 

[oiltanker]

10pt targets with 20pt+ stops and 100pts a week net?

so if all trades perfect takes 10 trades =100pts

if best case 7/10 are winners then that would be 70pts win 60pts lose [with 20pts stops] which means a net of 10pts for every 10 trades so on a 7/10 ratio that would mean 100 trades a week =100pts net?

100 trades a week on ftse pivot during morning sessions?

i must be missing something?

 

[COINMOUNTAIN]

There are always horror stories - in every area, not just automated trading. You do what works for you. To set a program to run your trading system automatically, you obviously have to trust the computer. I've worked with computers as a programmer for 20 years now so I guess that's what I base my trust on. Of course there's always something in that old adage, "to err is human, but to really **** things up takes a computer".

My biggest worry with automated trading is the internet connection and the reliability of my modem, my BT line and the local exchange.

hi
Good luck hope i've explained all
I 've always believed the hardest step to make is the first
regards Michael

 

[SanMiguel]

10pt targets with 20pt+ stops and 100pts a week net?

so if all trades perfect takes 10 trades =100pts

if best case 7/10 are winners then that would be 70pts win 60pts lose [with 20pts stops] which means a net of 10pts for every 10 trades so on a 7/10 ratio that would mean 100 trades a week =100pts net?

100 trades a week on ftse pivot during morning sessions?

i must be missing something?

10pt target, 20 pt stop - risk reward is 2:1, complete opposite of what a good system should have.

 

[nidolap]

hi
I should get paid for this,
last week the live room was open as follows
monday 9.15 weekly briefing
tuesday 9.15 to 11.45
wednesday 9.15 to 11.45
wednesday 6.15 to 9pm
thursday 2pm to 4.30 pm
thursday 6.15 to 9pm

The live room is very good and following the advice and chat in the room the
minimum achieved would be 100 pips.
It is not just the FTSE,also DAX,dow jones, s& p,gold and eur/usd.
Some of us(me included) also watch other pairs and trade at different times.
Some are in the room all the time, some like me pop in from time to time, depends on whether my other business or leisure time demand.
I prefer to trade part time.
Yes, you could achieve a level of success just from the dvds, it depends on risk aversion,the level of your bank, percentage risk.I always use a 22 pip stop loss
some might have 10p stop and others 50.
The psychology of trading is important and I know from personal experience that when i was trading 100 pounds a pip it made me physically ill, i now trade at a sustained level which i'm happy with and know i will able to trade whenever i want.
I also do not keep more than 2 positions open at any one time.
Start small what ever you do and see if you like it.
Success generally comes to people who enjoy what they do and persevere.
Not every trade is successful the best you can hope for is around 7/10 trades and cut your losses before they damage you.You can always move your stop to breakeven if you get a winner and move it again to guarantee a profit or take a profit at a preferred target.
95% of traders give up as they chase losses or gamble too much.#
Hope this all helps Michael:clap:

Thanks for your help and time!

 

[COINMOUNTAIN]

10pt target, 20 pt stop - risk reward is 2:1, complete opposite of what a good system should have.

You are missing something
I don't do a 100 trades a week
I do use a stop and 22 pips is my maximum stop , i often close a trade early
based on my own judgement
i don't do just ftse
I move my stop to breakeven and often move stop up if its doing well.I have taken profits on trades at 5 pips and 50 pips.
Piptastic is a very good product and trades are kept in the live room when positions are made.#
Instead of trying to find faults with this or any other system,find a system your happy with and if inexperienced try demo trading to gain experience.
Trading of pivot points is one method of trading and the owner explains it in great depth.
There appears to be a lot of scepticism from visitors to FX as many firms market systems that suggest you will become rich overnight.
If you start small and let your account compound then its perfectly possible to become a full -time trader if thats your ambition.
I prefer to trade part-time as i enjoy my other business and leisure.
Don't denigrate any product unless you've tried it.
Most fx trading is about attitude to risk and trying to take a balanced view of the market.
This does not happen quickly but regular trading will show you patterns that often recur.
Hope this helps
Michael

 

[roughbert]

Thanks for your explanations Coinmountain.

 

[COINMOUNTAIN]

its a good system and stops traders from having unrealistic expectations
aiming small is better

 

[Lord Flasheart]

its a good system and stops traders from having unrealistic expectations
aiming small is better

prove its good,prove the 3 ducks is good.Call out some live trades

 

[roughbert]

I'm not sure how many signals the Piptastic "Evening Trader" will turn up. To research it (I have the means) one would need 5 minute historical data. Don't know where to get that without parting with money.

 

[nidolap]

its a good system and stops traders from having unrealistic expectations
aiming small is better

Coinmoutain, what kind of software do you need for the live room? Is it video/audio streaming? And does he speaks for the whole time or does it onle come active when good trading opportunities appear?

Thanks again for your help.

 

[bigphil22]

Hi

Anyone here still using Piptastic? I just sent off for the DVDs on the basis of reviewers comment's on other sites. IE £20 is a decent prices for the information alone.
Do your results match those mentioned in the piptastic blog? http://piptastic.com/blog/

Cheers

/Phil

 

[COINMOUNTAIN]

Hi

Anyone here still using Piptastic? I just sent off for the DVDs on the basis of reviewers comment's on other sites. IE £20 is a decent prices for the information alone.
Do your results match those mentioned in the piptastic blog? http://piptastic.com/blog/

Cheers

/Phil

Hi Phil
piptastic is well worth the money .Trading is about learning the ropes and your own risk attitude.
Damon shows the methods but its down to the trader to develop the best way for them.Its not difficult to make 20 pips a day and let it compound.Just start slowly and learn about pivots etc.
Some traders aim for 100 pips a day others 10 ,its more risk attitude and not overtrading that brings success and money management

 

[bigphil22]

Thanks for the reply.

I got badly burnt by a blackbox system a few years ago, that and "poor psychology"., so starting slowly and learning the ropes is pretty much my plan. Sadly I live overseas so attending a seminar isn't as easy as it would be if I still lived in the UK but it's not out of the question. I'd like to learn enough to comfortably complement my other income streams and be able to give up the 9-5 :-D
Ahhh who wouldn't?