Hedge Fund Copier

[davechilde]

MODS - Before I start, this is intended to be a journal of my experience of a new commercial system - if you feel it should be in the commercial systems section please feel free to move it.

Firstly. To answer the obvious questions etc...

No I am not affiliated to this product and will not at any time try to sell anything or offer a link to promote any service.

I am not a niave newbie, expecting this to be the holy grail, I am a moderately experienced trader and tried dozens of the $97 easy money downloads in the early days some of which added to my experience, others just garbage.

I am doing this simply to share my experience, if I get the abuse that I've seen others get ( some who may have deserved it) I will stop, I have nothing to prove or gain.

For some reason this product seemed different, maybe I was caught out by the slick sell, who knows.

The product is a download that give access into the vendor's server (I think) and trades are replicated on my desktop, ranging from 5M scalps to daily trades. It give's entry, s/l and 3 t/p's. It also updates during the trade advising when to move stops or exit early on a change in conditions.

The full user manual is in the post to me, so I'll be able to answer more questions once I've been through that.

What I intend to do is post each trade the system produces (not in real time) with commentary on how I faired on each signal.

As for results I am keeping an open mind, but if the July trade history from a signal search within the software platform is genuine it should be interesting.

Yesterday it produced two signals:

GBP/USD BUY @ 1.6497. Got to +23 then reversed, system alert to close at b/e

GBP/CHF SELL @ 1.2975. t/p 1 met at +30, then alert to close early

DAY 1 = +30

Nothing so far today.

 

[pboyles]

I see they have put in a major effort with their SEO work including lots of references to 'scam'. Clearly they are trying to bury any criticism that appears. I'd bet these guys are marketing experts more than trading experts.

 

[davechilde]

I see they have put in a major effort with their SEO work including lots of references to 'scam'. Clearly they are trying to bury any criticism that appears. I'd bet these guys are marketing experts more than trading experts.

Maybe, as I said it was a pretty slick sell. It will sink or swim on it's results.

3 trades signalled after last post, not looking too strong at present, I'll update as and when trades close.

 

[anley]

Slick sell - Be worried.

As PB implies, people who put more effort into marketing are normally marketers whose product happens to be trading. If it wasn't trading they'd use the same tactics with a different product.

The phrase 'hedge fund' is also worrying, it reaks of buzz word marketing.....

 

[pboyles]

The website HEDGEFUNDCOPIER.ORG is registered to a marketing company that specialises in SEO work. The website was created on 12 July this year. So like I said earlier all marketing, perhaps not so much trading. I agree with Anley that the name hedge fund copier is intended to sound good to people with little or no experience. It will be interesting to see how you get on.

http://www.barryrealmarketing.com/what-we-do/

 

[davechilde]

One of the signals, EUR/USD LONG @ 1.4464 met TP1 for +30. stops moved to B/E for other two trades. I personally missed the entry so am +20.

Forgot to mention. The trades are set up as split into 3 positions, closing each one at TP's 1,2 then 3. Once TP1 is hit remaining positions are always moved to BE.

 

[flipper26]

One of the signals, EUR/USD LONG @ 1.4464 met TP1 for +30. stops moved to B/E for other two trades. I personally missed the entry so am +20.

Forgot to mention. The trades are set up as split into 3 positions, closing each one at TP's 1,2 then 3. Once TP1 is hit remaining positions are always moved to BE.

Is it totally automated or do you get the signals then place the trade manually if you decide to go ahead with the signals?
Interested to see your results. Thanks

 

[davechilde]

Is it totally automated or do you get the signals then place the trade manually if you decide to go ahead with the signals?
Interested to see your results. Thanks

The program operates as a stand alone package with no connection to my trading platform, so the signals generated must be entered manually. This can be tricky in a fast moving market, for example yesterday 3 trades were signalled in the same minute, so in splitting each position into 3 trades, I had 9 trades to enter, then go back and add stops and TP's. I missed 2 of the entries by 10-20 pips, but got in 16 pips better on a pullback in the third.

Those have closed now, so yesterday:-

Eur/usd Long +30
aud/usd long 0 ( system took 28)
gbp/chf long +78

The aussie trade was 28 in profit when the sytsem issued a close early signal, but it was in the middle of the night for me, so my stop at b/e was hit.

The gbp/chf trade was also closed early overnight on the platform, but fortunately it was still in profit this morning for me largely due to my better entry, so I could close at a similar pip level to the system.

The pips I quote by the way are the the max available for one third of the trade. For example on the gbp/chf trade I opened 3 positions,(at 16 pips better than the signalled entry) the first third hit TP1 yesterday for 59 pips, then this morning I closed the remaining two at 78 pips each. I count that as a 78 pip trade but the software adds the three positions together and given the worse entry to mine, records this trade as 134pips.

 

[davechilde]

Signal this morining: eur/usd long @ 1.4410.

I missed it because I have the software running on two platforms, home and laptop with me at work. The vendor has no objection to multiple dowloads for this purpose, but only one platform can be logged on at any time. I'd left my Home PC logged and had to wait until someone was at home to log me out before I could get on at work.

by the time I logged on the trade had already hit TP1 at +30 with stops to B/E

 

[davechilde]

Summary of yesterday, 1 signal (I missed)
EUR/USD long @ 1.4410, TP1 hit for +30, TP2 Hit for +70, then reversed.

The system recorded this as +130, being 30pips for TP1 and 70pips for TP2. I wasn't logged in to see the message but when TP2 was hit, it must have moved stops from b/e up to to TP1, to give another 30pips for position 3 on the reversal.

Max pips for a single position +70

 

[davechilde]

Yesterday 1 signal GBP/CAD Short from 1.6059, SL 1.6100 , TP's at 1.6000, 1.5950 & 1.5900

By the time the signal was given market had already moved 20 pips. I could have entered on a pull back, but missed due to phone calls etc at work.

System generated an update later moving TP1 to 1.6025, that was hit for +34. Stops were then moved to 1.6070.

Market reversed to hit stop for -11 on remaining positions.

Net result for the day, 1 signal +12 pips

 

[davechilde]

signal from this morning USD/CHF, long @ 0.7900, sl 0.7830 TP's at 7940, 7980 & 8020

TP1 hit for +40, stops to b/e

 

[davechilde]

Round up for the week. Pips quoted are max pips for a single position.

MON - GBP/CHF +30
TUES - EUR/USD +30
AUD/USD +28
GBP/CHF +59
WEDS EUR/USD +70
THURS GBP/CAD +12
FRI USD/CHF +40

The pips quoted are based on the system's entry and exit prices, not what I managed to acheive. I missed a couple of trades and or entry points. On balance if I'd been at my platform at the moment each signal was issued I may have got closer, but on one occasion I was and the price had moved by the time the signal popped up.

All in all I think a potential +269 for the week is non too shabby, I could live with catching only half of these.

Plus sides for the system so far? Easy to follow with clear guidance, positive results, very encouraged by no losing trade this week at all.

Minus? System is a platform taking signals from a server operated by the vendor, so I cannot operate unless they are still in business They are not charging ongoing licence fees, which on the one hand is good, but on the other they've got to keep selling copies of the software to maintain the service. Personally I'd rather pay an annual licence fee so they have got an incentive to keep the service running.

Other downside, some signals come during the night, so a risk of missing entries and exits.

More next week.

 

[flipper26]

Round up for the week. Pips quoted are max pips for a single position.

MON - GBP/CHF +30
TUES - EUR/USD +30
AUD/USD +28
GBP/CHF +59
WEDS EUR/USD +70
THURS GBP/CAD +12
FRI USD/CHF +40

The pips quoted are based on the system's entry and exit prices, not what I managed to acheive. I missed a couple of trades and or entry points. On balance if I'd been at my platform at the moment each signal was issued I may have got closer, but on one occasion I was and the price had moved by the time the signal popped up.

All in all I think a potential +269 for the week is non too shabby, I could live with catching only half of these.

Plus sides for the system so far? Easy to follow with clear guidance, positive results, very encouraged by no losing trade this week at all.

Minus? System is a platform taking signals from a server operated by the vendor, so I cannot operate unless they are still in business They are not charging ongoing licence fees, which on the one hand is good, but on the other they've got to keep selling copies of the software to maintain the service. Personally I'd rather pay an annual licence fee so they have got an incentive to keep the service running.

Other downside, some signals come during the night, so a risk of missing entries and exits.

More next week.

Have you "test driven" other commercial systems? If so, how does it compare to some of those? Been getting lots of emails from Bill Poulis, Jason Fielder - you dare to look at one of their websites and they innundate you with their stuff. Just wondering if any of it is any good and worth the cost. Thanks

 

[DaddyJohn]

Does the vendor say what basis / analysis they use to generate the signals?

 

[pboyles]

How much did you actually make. I think that's all that counts especially given the fact that the Market can move away from the given entry point in a very short space of time.

Round up for the week. Pips quoted are max pips for a single position.

MON - GBP/CHF +30
TUES - EUR/USD +30
AUD/USD +28
GBP/CHF +59
WEDS EUR/USD +70
THURS GBP/CAD +12
FRI USD/CHF +40

The pips quoted are based on the system's entry and exit prices, not what I managed to acheive. I missed a couple of trades and or entry points. On balance if I'd been at my platform at the moment each signal was issued I may have got closer, but on one occasion I was and the price had moved by the time the signal popped up.

All in all I think a potential +269 for the week is non too shabby, I could live with catching only half of these.

Plus sides for the system so far? Easy to follow with clear guidance, positive results, very encouraged by no losing trade this week at all.

Minus? System is a platform taking signals from a server operated by the vendor, so I cannot operate unless they are still in business They are not charging ongoing licence fees, which on the one hand is good, but on the other they've got to keep selling copies of the software to maintain the service. Personally I'd rather pay an annual licence fee so they have got an incentive to keep the service running.

Other downside, some signals come during the night, so a risk of missing entries and exits.

More next week.

 

[davechilde]

Does the vendor say what basis / analysis they use to generate the signals?

No, they just say it is mutiple calcualtions, but they have 10 core strategies, from 5M scalping, to monthly price action (of which there may only be a couple of trades per year).

Most of the trades I have picked up have been on either the 1H or 4H daily movement, where the vendor's sytem tries to ride the general direction for the timeframe, or price action, for which all the vendor says is that the system will reconginse certain price action patterns and generate a signal when criteria are met.

 

[davechilde]

How much did you actually make. I think that's all that counts especially given the fact that the Market can move away from the given entry point in a very short space of time.

I think it's fair to say that the market moves in the direction of the trade more often than it pulls back. Although a tradeer with more patience and disciplile than me, could possible score better entries from waiting for a pullback.

I took 148 pips from last week, but 30ish of those are from getting a better entry than the system, which probably balances the trades where i got in worse than signalled entry.

 

[davechilde]

Couple of trades signalled this morning.
Short on 1H EUR/USD from 1.4454, TP1 already hit at 1.4420 for +34 (+36 for me by entering on a minor pullback)

Short on 4H GBP/CHF from 1.3320. I've not taken this because TP3 is only at 1.3170, 150 pips away, yet SL is at 1.3560, 240 pips, so not worth the risk on R/R.

Being perfectly honest I cocked up. I misread the SL to be 1.3356, entered short before double checking the trade details and have been stopped out for -40 ( because I got in at 1.3316).

 

[davechilde]

two trades today, 1H EUR/USD short at 1.4454, TP1 hit as mentioned earlier, then alert to close early at 1.4417. Max profit +37.

The GBP/CHF trade I cocked up earlier was just alerted to close ealry at 1.3318 for +2. At the preceise time the laert sounded on my platform my broker was offering 1.3326 so would have be -6 if I had taken the trade, albeit as I type price is 1.3290, and testing the low of the day, so hard to see the logic in closing?