Goldline Trading System
- Thread starter stonecoldbaz
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Trader333
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anley,
I was being ironic, I was making out that any activity that involves risk becomes an automatic target for one of his ventures because he believes that he can apply the same rules in one activity to another that is only related to the first by the fact that money is risked.
If you have read many of my posts you will know that I dont correlate the two at all.
Paul
I was being ironic, I was making out that any activity that involves risk becomes an automatic target for one of his ventures because he believes that he can apply the same rules in one activity to another that is only related to the first by the fact that money is risked.
If you have read many of my posts you will know that I dont correlate the two at all.
Paul
Bubblefish777
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Trader333 said:
I'm less sceptical......my 2 mates started the horse racing with a 1500 pot and they're up 600 in 3 weeks !!!!
So I'm more inclined not to dismiss things. Some of these do work. The site they subscribe to is makemoneyhorseracingtips.com
However 5k is a lot of dough. .... :-( Even according to their results that plus a 2k pot would take 2 years to recoupe. Need to increase the pot to recover quicker.
>>> :?:
What do you think of Goldline systems?
Hello Everyone,
Just wondering what people thought about this company and the software which they claim can make us ££s in the trade market?
Is this true or is this just another advertising scam?
Any help would be much appericiated.
Many Thanks
Mahdi
Hello Everyone,
Just wondering what people thought about this company and the software which they claim can make us ££s in the trade market?
Is this true or is this just another advertising scam?
Any help would be much appericiated.
Many Thanks
Mahdi
Trader333
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Well it is interesting that they have modified the software so that "Range" trades are not included any more and you have to ask why ?
I would suggest that the reason is that the markets have been trending so "Range" trading would be losing money. But what happens when the markets start ranging again and trend trading starts losing money ? well the software will no doubt go through another iteration as the trend trades lose money instead.
In my view this is a curve backfitted system that will ultimately fail to make ongoing and consistent profit into the future.
Your choice though
Paul
I would suggest that the reason is that the markets have been trending so "Range" trading would be losing money. But what happens when the markets start ranging again and trend trading starts losing money ? well the software will no doubt go through another iteration as the trend trades lose money instead.
In my view this is a curve backfitted system that will ultimately fail to make ongoing and consistent profit into the future.
Your choice though
Paul
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I would be highly suprised if the spread betting company concerned would reveal such information. I doubt they'd have a clue as to who was and was not a user - or indeed care.
Bigbusiness
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It is such a shame that these people are allowed to get away with things like this. This has to be some form of false advertising.
So what would you guys advise as a suitable course of action for a complete newcomer to take to learn the ropes as it were?
Books, software, courses? And are some markets and or trading systems easier to get to grips with than others?
Any pointers would be more than welcome!
TIA,
Andy
Books, software, courses? And are some markets and or trading systems easier to get to grips with than others?
Any pointers would be more than welcome!
TIA,
Andy
The Wanderer
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Pay a visit to Naz(Alan Rich) for his beginners course-advertised on Trade2Win home page.
Alan is very good at finding out what level you are at and will recommend the appropriate strategy for you to follow.
Depending on financial circumstances may seem a lot to pay out if just starting out but you could easily lose 5 times the cost of the course in the space of a few months if you trade without a plan.IMO excellent value especially when you consider the spivs who are out there charging around £3000 for a load of crap that doesn't work.Just remember to stick to Alans rules rigidly.
Alan is very good at finding out what level you are at and will recommend the appropriate strategy for you to follow.
Depending on financial circumstances may seem a lot to pay out if just starting out but you could easily lose 5 times the cost of the course in the space of a few months if you trade without a plan.IMO excellent value especially when you consider the spivs who are out there charging around £3000 for a load of crap that doesn't work.Just remember to stick to Alans rules rigidly.
KIMMRUNNER
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Condemned by their own data!
Goldline publish data on their website of historic trades: for the four year period of jan 00 to jan 04 (when I downloaded) there may be more now.
Ostensibly, they produce a 'profit' of £59000 over that period.
The reality is they do this by rapidly increasing stake, and also having multiple index trades open at any one time: so that the drawdown is 70% at one point. from £15000 to £5000 - is hopeless bordering on suicidal.
Recalculating their own spreadsheet to single £ per point they achieve a miserable £14000 drawing down £2000 or 25% at one point - and losing money for periods of entire year at a time!
Considering that there are typically at least 2 trades open at any one time - this represents less than a miserable £7000 to a single point stake - in this case mainly on DOW!
There are simple schemes that can achieve £15000+ to a single pound of FTSE with considerably less drawdown ( ie £30000 based on the relative value of DOW to FTSE), using no stop loss. Notice that by increasing stake commensurate with the size of fund can achieve £150K on less drawdown than goldline
How do these guys get away with charging for such things!
There really does need to be a standard set of rules for quoting scheme performance & if there was IMHO goldline would fail the monkey mark!
I attach the data:
Goldline publish data on their website of historic trades: for the four year period of jan 00 to jan 04 (when I downloaded) there may be more now.
Ostensibly, they produce a 'profit' of £59000 over that period.
The reality is they do this by rapidly increasing stake, and also having multiple index trades open at any one time: so that the drawdown is 70% at one point. from £15000 to £5000 - is hopeless bordering on suicidal.
Recalculating their own spreadsheet to single £ per point they achieve a miserable £14000 drawing down £2000 or 25% at one point - and losing money for periods of entire year at a time!
Considering that there are typically at least 2 trades open at any one time - this represents less than a miserable £7000 to a single point stake - in this case mainly on DOW!
There are simple schemes that can achieve £15000+ to a single pound of FTSE with considerably less drawdown ( ie £30000 based on the relative value of DOW to FTSE), using no stop loss. Notice that by increasing stake commensurate with the size of fund can achieve £150K on less drawdown than goldline
How do these guys get away with charging for such things!
There really does need to be a standard set of rules for quoting scheme performance & if there was IMHO goldline would fail the monkey mark!
I attach the data:
