Ftse day trading system from piptastic

[bigphil22]

Thanks for your comments.
My reason for asking was that the thread has been dormant since December 2011 after what looked like a promising start. It would be nice to hear if anyone still trades this and what their track record is.

I think the issue in my case is one of expectations management. I'd expected to be profitable by now. Not Lambo/Sunseeker profitable, but consistently making profits. As I mentioned in my other post. Even with Piptastic training there seem to be very, very few people making money. If you make pip-profits on a daily or at least weekly basis then with good money management and even with conservative compounding you will make a lot of money. And there's the rub. I don't know of anyone making serious money.

/BP

 

[Al Sheltone]

Thanks for your comments 1961 trader and bigphil22. I have tried many systems over the last 4 years but not yet found one that seems to work for me consistantly. I know it is probably not the system but my lack of ability to stick with it through the good and bad trading periods. It would be nice to find someone who can honestly say "yes this works for me and I make consistant profit" Not a guru or a sales letter with fake testimonials but a real trader

 

[1961trader]

Hi,
I advise that you go back to the drawing board.
Firstly, what times of day can you trade? If you are working, you will be looking at End of day systems on currencies or stocks
Secondly, what do you want from your trading? Is it for extra income or for a full time income eventually. Even if you choose to use some else's system(which I don't see as a problem), you still need to backtest, forward test and then take it onto a live account, constantly monitoring its performance. You also need to monitor your own performance as a trader. 20% of this trading game is systems, the 80% is pyschology.
I can understand your frustration with all the resources on the net, there is not one book or place that takes you through all the different stages of selecting/creating a system and getting into profit.
Currently I am running a pilot coaching programme with 2 new traders. They will be going through the basics and then selecting and testing systems until they find a suitable one.
I looked at a number of different systems before I decided to go with trend trading including Damons.
My system took me 6 months to develop and backtest and it went live in April. I also have a friend who is experienced trading the system, so I know it works.
If you want some help wading through all the info and with direction, please feel free to PM me.

1961

 

[blueclaret]

I think Piptastic is worth the money and isnt like alot of other sites which promise so much. It is good for learning but it is really down to yourself to make it work. If you gave 10 traders the same system they will probably all have very different results so i think you just have to put the hours in and keep going. But for me it does feel like a waste of time and money alot of the time but im still at it!

You can try buying Attacking the Currency Trends by Greg Michalowski, you can buy it on Amazon but you can also go to the FXDD website where he teaches his techniques on the videos which are free. It is quite simple to follow, just using 2 moving averages, support/resistance and fibonacci.

Also, keeping records of all trades is important no matter how depressing it can look at times! I think at the end of the day it is just finding something that suits you but sometimes i think there must be an easier way to make money!!

 

[skint3839]

I went on the piptastic weekend course and tried the method few years ago, my one and only guru following method, some good basic forex information and the method looked ok but didnt suit me as a trader, of the 8 others on the course who I kept in touch with none are using this method now.!!

 

[markbritton]

I went on the piptastic weekend course and tried the method few years ago, my one and only guru following method, some good basic forex information and the method looked ok but didnt suit me as a trader, of the 8 others on the course who I kept in touch with none are using this method now.!!

If I can throw my two penneth into the ring about Piptastic.

Before I say anything else I would point out that I have been trading on and off for the best part of 10 years. I stumbled upon Damon's stuff years ago and have been a member since about Sept/Oct 2009. Yes he has developed the methods along the way (improved if you ask me) and now has a refined and more effective main pivot method which you can purchase.

In addition to this there are a few other methods which can be used to generate pips.

It took me about 2 years to get to a stage where I simply took one of Damon's methods and tweaked it so that its now my own method and I trade it according to my own Trade Plan. I trade it on the evenings for a consistent profit almost every night with a relatively small target. I don't take some trades that have larger stop losses and simply wait for another setup or perhaps won't take any trades during that evening session.

You can make ANY method (I don;t like the word system) work for you - its the poor patience/discipline, bad record keeping and lack of development of the psychology element that will thwart your attempts to make money if you have not prepared yourself.. Its as simple as that (but its definitely not simple to get right!).

Damon has always been a rock and given me advice but you need to tackle yourself before you can be successful in trading. Don't expect to pay £19.99 for a 'system' and think that you will make millions. I've done that and worn the T Shirt - it just will not happen.

For the record I work for a living but have a plan in place to go to full time once a couple of goals are reached during 2013. I trade on the evening and also swing trade using daily charts. I do make money and am compounding up steadily. I personally thank Damon and others from Piptastic for their help in getting me through the psychological brick wall but I would recommend joining Piptastic. You do however need to set yourself a 2 year programme of training. Its not a 5 min exercise.

Hope my comments help anyone thinking of whether to join or not. At the end of the day pick Piptastic, stick to it...and you will succeed.

 

[markbritton]

Have to ask yourself why hes even selling a so called profitable system and why its only £19.99.

My opinion is, its so lowly priced so more people buy it and aren't put off by a large fee, nothing more than another vendor and pretend trader.

Breaking News.... Profitable trader SELLS his secrets to beating the market for ONLY £19.99​

Yer Right!

One born every minute.

This is the reason why I sometimes think of not bothering to contribute to trading threads. I think that's answered it for me. I think I'll leave you all to it.

Have a nice day all and wish everyone the best for 2013.

Bye.

 

[markbritton]

Forums are for giving opinions and criticism as well as debating.

If you don't like people questioning you and your morals and or someones agenda, then maybe you should leave.

I gave my opinion on the matter and what I think hes up to.

Yep, totally agree with you. It's a tough world out there and if you are in the public domain then you should be questioned and people should indeed be careful of the sharks out there.

Have a good day $$$DOLLAR$$$

 

[skint3839]

Yep, totally agree with you. It's a tough world out there and if you are in the public domain then you should be questioned and people should indeed be careful of the sharks out there.

Have a good day $$$DOLLAR$$$

Well done on making the system work for you:clap: if you can make a profit then why not! Everyone is different in how they trade and one method may fit you but not others! I liked Damon and found him interesting and as a newbie was in awe of his large account balance that he let drop during a break on the course, my doubts started when I found out that the recommended platform/broker he pushed was an affiliate connection he had with said platform, these affiliate programmes give the introducing person either a one off payment or ongoing cut of the spread from every trade you place! as a new trader back then this was all new to me and left a bittersweet taste, for me the conflict of interest was the end of any further so called guru following, so the £19.99 is cheap but thats just the start of the funnel, be your own Guru and save alot of time and money, tradeless and learn more. goodluck

 

[bigphil22]

I have posted on this subject before. This particular method does (IMO) give you an edge. However there is a LOT more to it than that. The method itself requires you to in effect be att the charts from about 0800 to say 1700 every day in order to make the pips. And of course you have to have your trading attitude in the "right place" as well.

With regard to Piptastic as a whole. I was a member for just over a year and I did the course in the spring of 2011. I'm still in touch with a couple of blokes from that course and they aren't using this method and aren't making consistent profits. I DID learn a lot however and lack of application and a decent trading account might have been determining factors in my own lack of success.

However, I still have access to the piptastic forum that I read from time to time and tales of success are few and far between, well in fact there are none that I have seen. This last factor is what really troubles me. I know roughly how many people are or have been members of Piptastic, Damon told us on the course and based on the "Normal" 5% of traders make it number i see bandied about that should mean that thee are 100+ traders making money on the methods taught. None of them post to the forum...

The cynic in me says that Damon makes good coin out of the piptastic services and doesn't "need" to trade and the cynic also says, if I could literally take 10 pips out of the market day in day out without a losing day, month in month out, year in year out as Damon claims, then why the F would I bother with running a stressful training business? But that's just me.

I'd really appreciate it if Damon consistently traded live in the live rooms he runs. Say one day a week or so. Live with real money and at the stakes he normally trades at for his trading income. Seeing the live pips come in on a regular basis would be a confidence booster.

As always, YMMV.

BP

 

[Lightning McQueen]

£19.99 ? surely the original price on 1st rollout? more than double that now i see, treble if you include the cd! i guess that's inflation for you.

 

[Liquid validity]

£19.99 ? surely the original price on 1st rollout? more than double that now i see, treble if you include the cd! i guess that's inflation for you.

Did you say twenty pound?
Thats a bargain, I'll take one.

Lock, Stock and Two Smoking Barrels - Opening Scene - YouTube

 

[bigphil22]

EXACTLY!
Does this not show people that hes a scam, if hes got a live trading room and dose not trade live then where is the point. I bet he waits for the moves to happen and then says I would have done this and that.

Sorry but in my view live rooms are for LIVE trading.

The whole point I made about someone who claims to be a successful trader but then sells his secrets for only £19.99 stinks!

And then has a live room or various live rooms,but does not trade live.

SCAM!

I "attended" the live rooms on a regular basis over a period of some 6 months. Damon "indicates possible trading opportunities" from live 5 min charts in advance and also says why. He also says why he wouldn't take a particular trade. He has traded live a few times, @£25 a pip and on the times I saw, won. However this is or was, very rare. Live trading that is.

I don't think Damon is the "scammer" you say he is, he's very honest about how difficult trading is and encourages demo trading for months before going live at low stakes. Whether or not the Piptastic method the OP asked about works is up for discussion, however I don't believe it's a practical method to use given the required number of screen hours waiting for a possible trade to turn up every day.

The almost complete lack of consistent success stories in the forum does trouble me. A lot. And this for me is the deal breaker.

When I joined he also ran evening live rooms where he called swing trades on a variety of FX pairs and indicies. All using readily available methods. The "added bonus" was Damon's advice on why, or why not trades should be taken. He followed up these trades and published the results on his website. The results were pretty good. I made about 500 pips over a few months. A friend made 1400 over the first half of 2011. No magic just tried and tested methods. However it all went to **** in July/August 2011 and I lost about 450 to 500 pips. Using the trades "called" by Damon. I'd staked up so this almost cleared me out. (Yes ****e MM but there you go, I suck).

BP.

 

[Dim1978]

I don’t know if anyone’s still around from this thread. I attended Damon’s course the one in Manchester that was recorded for his dvd.
I did a search out of interest to see if Piptastic is still around, and found he’s under investigation for a multi million dollar Ponzi scheme in America.

 

[BigDeal]

I don’t know if anyone’s still around from this thread. I attended Damon’s course the one in Manchester that was recorded for his dvd.
I did a search out of interest to see if Piptastic is still around, and found he’s under investigation for a multi million dollar Ponzi scheme in America.

If anyone is still following this, Damon Elliott has failed in his bid to have the fraud case against him dismissed.

 

[Elsa50Pounder]

From the Piptastic trading system, many people have 15 pips profit everyday. So if you are in for 10 pips, then I think it’ll work smoothly. Try it and then share your experience.