Goldline

I dont know anything about Selecta, but systems when they are presented with past results, normally have a few limitations ( talking about the trading systems)- They will give u a print out of tradestation with the results- BUT no commission and more importanly for day trading systems, no slippage is deducted- by the time u take these off, a good chunk of the profits have disappeared..........

Then, u need to take ALL the signals, and that means being glued to the screen !! unless u can give it to a broker to do it for u........... usually there is a big drawdown involved as well........ therefore not suitable for most........

Al
 
Hi T333
no - just following the system.

Selecta7 will not make you rich. Because of the way it works and the money management involved you would need a VERY large bank to do that.

Others are quite free to disagree with me. I can only call it as I see it. I can quite understand others not making money if they deviate from the system. Particularly the staking. I know that because in the beginning I thought I knew better!

Also any system can have good periods and bad periods, it must run for a long time to work the numbers. I've been doing this 3 years and I can assure you I would stop if I lost money.


Al-motor
As I understand it Goldline is a purely mechanical system. Put the orders in first thing and walk away and get on with your life. It would not suit everybody to do this. However I do not know the details.
 
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al-motor,

With regard to Tradestation you posted: They will give u a print out of tradestation with the results- BUT no commission and more importanly for day trading systems, no slippage is deducted- by the time u take these off, a good chunk of the profits have disappeared..........

There is an option in Tradestation to allow for both slippage and commission that is included in the results. I tend to use 1 figure for both and I have attached an EOD FTSE strategy that ran for 17 years. You will see that on the "Settings Tab" I had included $80 of commission in the calculations but in this I had included slippage.

Anyway it is just an example that you can do it.


Paul
 

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Twigden,

Good news travels fast and anything that is any good would be talked about a lot by all those who are enjoying the success. So ask yourself "Are there lots of people talking about how great this is on every traders bulletin board ?"

This answer is no they are not and you can be certain that if this was as good as made out then the company would be making maximum use to publicise the greatness of the system.

So the most positive thing I can say is dont buy it.


Paul
 
Twigden,

I see you come from Hertfordshire and the man behind all these schemes has an office in Hitchin, Hertfordshire. I also see your only two posts on TTW are about this system. Perhaps, if you live near Hitchin, you should go and ask him some of the questions that have been raised here and on other boards. Most of what I have read about the systems this man has produced has been negative so it would be unwise to make positive comments without doing a proper investigation into some of the allegations of previous failed systems, strange business practices and poor results with the current systems.
 
Big business

Thanks for comments, I do live in Hertfordshire and have been to visit the Goldline Offices in Stevenage - My only reason for direction to this board was from a thread mentioned on a fillyaboots thread, otherwise I would never have found this site and discussion.

I am suspicious of this package, although haing seen it in action am encourareg by its predictions; However the office I visited Stevenage only had 1 guy in it (the one i was speaking to), the phone did not ring and the office had a paper sign on the door - I was told they had just moved there. The intro was quite good and there wasn't a hard sell, the guy I saw said he would inform me of his trades for 1 month before I bought - In reality he gave me trend longs for about a week and then said they were too busy to continue fielding daily calls (the info given was useless).

Goldline are still advertising on ADVFN and they were honest enough to tell me the software only got 10 points during September. I would have thought if this was loosing people lots of dosh, there would be a complaint to ADVFN about their claims and individuals would be warning people off all over the place - However there is just a silence, no comments either way ?
 
Twigden,

Can you remember the name of the place you visited or the address ?


Paul
 
They seem to open and close offices all around the Hitchin/Stevenage area. ADVFN were not much help when I complained about another scheme they were advertising that was claiming huge profits that were clearly not achievable.
 
I may be mistaken, but my understanding of the way these advertisements done via ADVFN work, is that the vendor pays ADVFN for each new subscriber. So therefore, they are a little choosy as to whom they advertise for, but the effort they put into promoting it directly reflects the income ADVFN receives. That is the gist of what used to happen about a year ago, although it may of course have changed since.

If this is incorrect, then I hope ADVFN will point out the error.
 
I sent an email when I received an advert for the people who work out their profits by adding up the maximum points possible after their entry point. I pointed out that this was not possible unless you know the high or low of the day in advance. If only that was the case! I felt that the advert was misleading and having worked out that their entry points are just pivot points with a fudge factor I thought ADVFN should not encourage people to subscribe to their service. I received an email saying that I should take the matter up with the advertising standards people. I was going to but thought it was a waste of time if ADVFN can't be bothered checking up on the companies they advertise.
 
I don't think some of us realise how deceptive some people can be when they are trying to sell systems that don't work.

When I use to speculate on the horses my wife and I came across a company called Comstrad.

We visited their offices in the city and saw the software which they rigged up somehow to show profitable bets.

What seem to be a very nice lady showed us around and they had a huge amount of the Racing Post paper.

She said to us that we could choose any paper we like and it will be put through the software and we would be able to see the results.

This was done rather impressively but to cut a long story short- after we had bought the software it was absolutely useless.

It was a good thing we bought it by credit card as we were able to get our money back this way.

Do not be taken in by these charlatans.

Although I find making money much easier trading than horseracing it is by no means very easy.

I can see the same scams that were used in my horseracing days being manipulated and used for deceiving the unwary with useless trading systems that will never work.

Most people with common sense can knock up a much better system than all of these con arstists put together.
 
Having just read the Goldline stuff following a link from ADVFN and receiving their email I almost started a thread here and then thought to search, and found this one. Very helpful.

Folks here are (rightly in my opinion) very skeptical of these schemes but it amazes me that punters must be forking out £5k a time and if it doesn't work why are they not plastering the fact all over bulletin boards like this?

Is it just that they don't like to admit to being conned and is this what the con men rely on or just that they feel it is their own fault for chickening out of trades due to excessive drawdowns?

What also surprises me is that senior users of this board seem to indicate that 400 pts a month is poor but don't offer a little more indication to us poor beginners as to how to achieve this. The only one that does is Hugo on the IK thread.

Skimbleshanks, I can also draw up and down lines on a graph after the event but I would love you to explain the logic behind the ones you showed earlier cos like Darren (I think) I can't follow what you are describing.

Sorry this appears to be critical and I don't intend to be - I am just getting frustrated by reading so much and finding so little that works reliably.

Harlosh - how's it going with Goldline ?

Has anyone ever bought the PHD system and if so does that work? (and before anyone starts no, I am not connected with it and am not trying to sell it - or any other system!)

Ian
 
Alfaman,

It is generally accepted that 80% of success in trading is down to psychology and only 20% down to technique. Now bearing this is mind there are any number of methods that can be used to make 400 points per month but the problem is that all of them will at some point lose money and have consecutive losing runs.

So the biggest problem that many traders have is maintaining confidence to continue trading when this happens. Also there are a number of other factors that turn up when doubt creeps in including taking profits too early and not cutting losses immediately.

There have also been a number of studies conducted where a number of people are given the same method to trade. In all cases I have heard of the results varied quite dramatically with some losing quite heavily and some making large profits. I would say that this shows that even when you give people the same tools and system they will just not do it the same way.

Most of the successful traders on this site have developed their own trading styles and methods and what works for one often would not work for others and I include myself in this.

The best thing you could do is gather as much information from others on this site and develop your own trading approach refining it as you go.

I know of a few people who have used the PHD method and they all use it as an additional filter to other methods for trading. None of them use it as a stand alone system.



Paul
 
400 points per month

if that is index points, then in the dax that would equate to 4800 points per year or approx 130% without any gearing.

If you can do that consistently, you should be able to name your price :)
 
Paul


Thanks for your considered reply. Much as I suspected really but I hadn't thought that two people using the same system could achieve such varying results - to me this means they are not following the system - but probably for quite understandable reasons.

Daxtrader - I think that 400 pts per month is 4800 points per annum which ever index you trade.

Alfaman
 
There are lots and lots of free strategies to make 100's of points a month scattered all over the internet. All you have to do is look. Here's one. Not sure if it still works.

http://boards.fool.co.uk/Message.asp?mid=7441101&sort=whole#7441349

But systems don't necessarily work indefinitely and like has been said before, it is best to devise a few of your own. I save intra-day charts and use excel, in a limited way, to generate buy and sell signals. Then I check the signal on the charts to make sure they can be traded. I had no idea how to use excel but there are some good online guides.
 
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Alfaman - It is 400 points per month on the DOW

Trader 333 - They were at Eastway Enterprise Centre, Hitchin
This was a small serviced office.

They have moved to : Southgate House
Georges Way
Stevenage
Tel: 01438 - 353355
The man behind it is Mark Haraman, sales guy is
Gerry Lannen
 
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