Goldline Trading System
- Thread starter stonecoldbaz
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Bigbusiness
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The stars are my avatar. It's amazing what you can do with photoshop when the Dow is rangebound.
Jacks, the fact that you're selling a 'winning' system for a discounted price isn't really the best vote of confidence is it? I mean 98% of people would surely think that it's a 'losing' system and this is why you're selling at said discount.
If I were you I'd throw it in the bin right now and cut your losses and curse yourself for being so nice to your friend who you bought it for in ther first place. Yes, you might get £500 (if you're very lucky) for it but then it might take you over 6 months of work to find a buyer, hence the cheapest option is to chuck it right now.
If I were you I'd throw it in the bin right now and cut your losses and curse yourself for being so nice to your friend who you bought it for in ther first place. Yes, you might get £500 (if you're very lucky) for it but then it might take you over 6 months of work to find a buyer, hence the cheapest option is to chuck it right now.
stevespray
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dc - I'm interested in your system - what is it based on if not Elliott , Gann or TA ?
Steve.
Steve.
))stevespray
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Hi dc - Took a look at the website - looks pretty good but couldnt find info you were posting about. Can you email me at [email protected] and maybe we could compare notes on a few systems.
Steve.
Steve.
jacki said:
Hi I am also a Goldline member and have been since March this year. I would be interested to know how you are in profit as I am using the system and am not. In fact on my original £2000 starting bank I am down to £600 approx cash balance as of today. So apart from the money I paid for the program I am currently also down £1400 approx.
Can you also tell me when you started the system.
Thanks
Mooncry
stevespray
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I've just checked the goldline website. They appear to have stopped updating their system performance. Last trades are for March of this year. 3 months without an update would be a worry. In my opinion a company which claims what they claim would benefit from keeping their trading records up to date (within a few days any way). Failure to maintain such trading records leaves them open to suggestions of 'curve fitting'.
Just my thoughts,
Steve.
PS. Mooncry - which markets are you following ?
Just my thoughts,
Steve.
PS. Mooncry - which markets are you following ?
.........and Jacki has not posted a thing since the long missive waxing on about the goldline system being profitable. Mmmmmmmmm now this does make one wonder what connection the author has with the system proprietors????? i doubt he/she is just a client!!!! Always open to be proved wrong of course.
John
John
stevespray said:
I am currently in Wall St and Nasdaq trades which are showing a profit but also look at Nikkei and DAX markets but have no trades in these at present.
I am concerned about a lot of the comments here, but as I have spent my money already I am going to give it some more time. I always took the opinion that it is a risk and was prepared to lose my bank I had put aside for this. It is gambling after all, so you should be prepared to win and lose (hopefully more wins). However I would be interested to see the next update of the figures to see if it tallies up with mine ?
Steve - Do you know anyone else who is a member, it would be nice to get a group of existing members together to compare figures?
Regards
Paul
stevespray
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Sorry - I don't know anyone who trades using Goldline's systems.
In my opinion any company which advertises, and makes you feel like they have some kind of holy grail or guaranteed income, is misleading you. It's a fact in the markets that, for the most part, wherever there is reward there is risk. You can be sure that, over an extended period of time, a system which appears to show a very high return will also exhibit a high risk.
By far the biggest risk to a trader is the risk of forming a cycle of irrecoverable capital reduction. This is simply down to basic mathematics. The are a number of examples of this. The first is of a system that has a hit rate of 99%. If we imagine that 99 out of 100 signals produce a known winner then the chance of a loss is 1 in 100. On that basis you could risk all your capital on each trade. This would produce fantastic results in the short term however over an extended run you almost guarantee yourself at least one loss which would wipe out your capital. Likewise with Red / Black on a casino table. Imagine a system where you just bet on black. You start by betting $1. If it wins you keep the winning dollar and bet another $1. If it loses you double up. So this time you bet $2 (aiming to win $4 and thus cover your $3 stakes). If it wins you revert to betting $1 and so on and so forth. Of course in the short term it will work fine and you’ll make money but over a longer period of time the house will have a run where you get no blacks for several spins and therefore your losses mount (ie 1,2,4,8,16,32,64,128,256,512,1024 etc). At some point you will have no money left even though you know in your head that there will certainly be another ‘black’ in dues course. These are systems with unacceptable draw down. All systems have ‘draw down’ and therefore its up to individuals to calculate how this may effect them. Many people find that trading a system is fine until they have a few losses mount up. At this point they stop following the system and are thus certain to finish with less than they started with. In such circumstances a bigger winner is not so far away but because the system is not being followed the trader doesn’t follow the signal.
Don’t automatically think that trading systems remove emotion from your trading. Some people are just not capable of following mechanical signals, these people always revert to what I term ‘instinctive trading’ which makes them cuts profits before targets are reached and also running losses beyond the ‘mental stop’.
If people are interested in systems then why not join the “Technical Trader” forum which is moderated by Grey1. There are many people on these boards who know what they are talking about, don’t fall for the smooth talking snake oil salesman’s patter. The is no substitute for hard work on your part. For what its worth I looked into Goldline and attended their offices but I’m far from convinced. They need to give a better illustration of how their system is going to be successful.
Good luck,
Steve.
In my opinion any company which advertises, and makes you feel like they have some kind of holy grail or guaranteed income, is misleading you. It's a fact in the markets that, for the most part, wherever there is reward there is risk. You can be sure that, over an extended period of time, a system which appears to show a very high return will also exhibit a high risk.
By far the biggest risk to a trader is the risk of forming a cycle of irrecoverable capital reduction. This is simply down to basic mathematics. The are a number of examples of this. The first is of a system that has a hit rate of 99%. If we imagine that 99 out of 100 signals produce a known winner then the chance of a loss is 1 in 100. On that basis you could risk all your capital on each trade. This would produce fantastic results in the short term however over an extended run you almost guarantee yourself at least one loss which would wipe out your capital. Likewise with Red / Black on a casino table. Imagine a system where you just bet on black. You start by betting $1. If it wins you keep the winning dollar and bet another $1. If it loses you double up. So this time you bet $2 (aiming to win $4 and thus cover your $3 stakes). If it wins you revert to betting $1 and so on and so forth. Of course in the short term it will work fine and you’ll make money but over a longer period of time the house will have a run where you get no blacks for several spins and therefore your losses mount (ie 1,2,4,8,16,32,64,128,256,512,1024 etc). At some point you will have no money left even though you know in your head that there will certainly be another ‘black’ in dues course. These are systems with unacceptable draw down. All systems have ‘draw down’ and therefore its up to individuals to calculate how this may effect them. Many people find that trading a system is fine until they have a few losses mount up. At this point they stop following the system and are thus certain to finish with less than they started with. In such circumstances a bigger winner is not so far away but because the system is not being followed the trader doesn’t follow the signal.
Don’t automatically think that trading systems remove emotion from your trading. Some people are just not capable of following mechanical signals, these people always revert to what I term ‘instinctive trading’ which makes them cuts profits before targets are reached and also running losses beyond the ‘mental stop’.
If people are interested in systems then why not join the “Technical Trader” forum which is moderated by Grey1. There are many people on these boards who know what they are talking about, don’t fall for the smooth talking snake oil salesman’s patter. The is no substitute for hard work on your part. For what its worth I looked into Goldline and attended their offices but I’m far from convinced. They need to give a better illustration of how their system is going to be successful.
Good luck,
Steve.
Thoroughbred
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stevespray said:
...could this be the start of a trend line???!!!! ie:they did the same thing with their horseracing site (selecta7) no updated results for months.....then it went off for good saying that they'd been so successful that they had to close it down!!!..........make your own minds up as there are better sports tipping stuff around.
Thoroughbred
Thoroghbred
