Index King In Da' House !

I don't think this site has been going on long enough for people to trust the system works (correct me if I'm worng). Personally I've been following for about a month. Furthermore, if you are going to charge, going with someone like paypal would make things easier for people I think. Also note that when you start charging for a service, people expect results and service. If you thought you put alot of work into it now, wait till you start charging. Now people email you hoping for reply. If they start paying they will email you demanding a reply. Also your point about putting alot of work into it is and isn't valid. You need to do the numbers for your own trading, in the past you shared them because you were a nice guy, and you said you did it to put the "traders" that charged to shame. Now you want people to pay you for something you will be doing in any case. And how do you feel about charging people for something that isn't yours anyway??? The system is your friends isn't it? Does he know?

My final point is that yes the results of the trades have been good, but not many people have the capital to bet at £5 a point to follow the trade recommendations of someone you don't know and who for whatever reason may not post a trade one night, 4 nights, a month or ever. I'd say most people right now follow on paper, and those that trade do it for between 50p and £2 a point. Many of the trades give up to 25pts less than the published results (for bid-offer spread reasons if nothing else). 200pts a month would give you £400 profit. Yes that's a good return for £25 but there are betting subscription services that would give you twice that with a £600 bank and much less risk. Food for thought anyway. There is no such thing as a free lunch, but I don't think this one is cooked enough for me to pay for it
 
Hugo

Gecko made a valid point:

" follow the trade recommendations of someone you don't know and who for whatever reason may not post a trade one night, 4 nights, a month or ever".

You occassionally mention that you may not update sometimes (though in fairness you always have up to now).

Will you confirm that when you start charging you will not leave any of your subscribers in the lurch. If you charge, you can't stop the update because you fancy going to the pictures one night!
 
People ask why I put this info on a website for free ? Well simply if a system is good there is no need to charge for it because you shouldn't need the money.

This is the sort of statement Hugo has said in the past and makes it a bit difficult to trust him now. If it costs £25 a month to run the website and he is making £70,000 a year trading the system, the statement above would be correct. I did read somewhere that he is doing £10 a point so £70,000 would be reasonable, unless the system is not as good as it seems.

I don't mind paying a small fee but after reading lots of posts about keeping this free and criticising others for charging, I will pass on this one.
 
If you are all so worried about £25 a month maybe you should stop tradeing and find something else to do,i realey can't see the problem as ik says if you don't want to subscibe then don't.

:devilish:
 
Bunch of ungrateful chimps! If you can't afford £25 a month you shouldnt be in this game!!!!
 
I am sad to see that IK is to charge for his trades, but the writing was on the wall when Hugo stopped posting the trades on this board, and started up the website. He is perfectly entitled to charge for the trades and it certainly seems to be better value for money than many. He has a right to cover the cost of the site if nothing else.

However, my main concern about this is that I have no control over the trades. If people are happy to do as they are told without any idea of why and pay for it, then fine and that's up to them. But I have never liked being told what to do and want to be able to do it for myself. I am happy to take advice but the final decision is mine. I would be much happier to pay to know how Hugo's system works and how to work out the trades, than just be spoonfed with the trades. But then that's me!

In the meantime thanks Hugo I have enjoyed your thread.
 
It's IK's prerogative to alter his earlier statement if he wants. It seems he has proved his system here... personally I haven't followed it, but that's the impression i have. If he wants to now charge for it then that's HIS choice. If we DON'T want to pay him for it, then that's OUR choice. No point going on about it.
 
What is the fuss about. If you call yourself traders then whats the problem with £25 per month? People moaning left right and centre, but I bet when 6pm comes all get excited and wait for their £1/point update.! Start playing with some proper stakes and you'll see....
 
well said THAT man....i.e oarsman. You might just get yourself another vote. man i'm generous with these things. ;)

As for all of the ''If you were real traders then you wouldn't care bla bla bla'' stuff. Well i wouldn't necessarily call paying to use someone elses trades 'real' trading. Try learning to trade properly for yourselfs. You'll know why your taking a particular trade then, atleast.

As for IK. He's free to do whatever he wants with his mates system
 
Hello

Just to let you know that any concerns that you have about me not updating the site are unfounded. I am able to post the minimum difference to look for as regards reversals the night before, for the next day. That way the Dow target close value can be worked out from the corresponding European close. If you followed my Dax trades you should remember how I did that. If a minimum difference of XXXX is necessary for closure then you just add that value to the close value of the corresponding European index. That is then the next Dow target. I can work these out the night before so nobody should be left in the lurch if they can't get to see an update or need plenty of notice. I can only do this one day ahead at a time though but 24 hours notice of what to look for must be enough ! In addition I will also post the usual updates just to clarify it.
Also if any acts of God occur then there are instructions on what to do should I be 'unavailable'
In short I have tried to cover all eventualities for anyone paying. The guestbook will remain open so if anyone is unhappy they can voice it. My email replies will continue to be quick. I am able to access my e mail anytime during the day. Also remember that my site is giving out actual 'meat'. How many sites do that for subscribers ? If you look around theres plenty of people who charge more, talk a lot but say very little. A bit like Alan Greenspan.

As an answer to all those who keep quoting my promises for keeping the site free, well I shall eat my humble pie, look stupid etc. Yes I did want to keep it free, but when I'm working at this for the benefit of others and sacrificing time and effort, I did feel that was wrong. Yes I would do the work anyway for my own personal trading, you are quite correct, but the time and expense of running the site and answering queries and posting the trades, etc is not something I have to do for others . I did it out of the goodness of my own heart. When I first started posting trades here and on the site I didn't realise the time needed to keep it going constantly and timely. It did get a bit much and I was getting resentful at doing all this work for people who, although grateful, were seemingly getting a free ride on my shirt tails. Like I say I underestimated the whole thing doing it for free.

I'm glad to see that some of you have seen the relation of the subscription price and the profit potential. I'm not offering speculation or conjecture but straightforward trades with full instructions presented in a neat and timely fashion.

Regards
Hugo
 
Is IK FSA qualified?

I've only read the last couple of pages, so I don't know if this point has ben raised already!

But if IK is about to charge for his advice, he must be authorised by the FSA. (usually by examination). He will be breaking the UK law (if he does live in the UK) and charges for his information.

It only needs one person to report him to the FSA and he will be stopped from giving advice ASAP followed by a hefty fine - so comments about him charging a fee may become irrelevant.

Of course if you are fully qualified IK - Go for it!
 
Hi Hugo

Well said but you really have no need to explain yourself,this is business and if you provide a good service which i'm shaw you will most!! people will only be to happy to subscribe.

Phil .
 
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Hello

Regarding FSA qualification. Spread betting is classed as gambling (hence you don't get your winnings taxed) and I'm only providing information on betting. The FSA rules cover investment advice on shares, funds, Isa's etc. Spread betting is gambling in the eyes of the law and not subject to FSA regulations.
You don't need to be FSA qualified to advise on which lottery numbers to buy or horses to back! Its probably a grey area and obviously the laws may change in the future, but as it stands, no I don't need FSA approval. My site has the required disclaimer and thats all thats required.
I have enquired on this this and thats what I was told.

Regards
Hugo
 
IK

just one thing niggling at me, if you don't mind.

How did u improve your english so much, so quickly? Or is it that your english wasn't really that bad before, you were just "jesting"? OR, is it that the IK of now, and the IK of then are different peeps?

just asking out of interest.... hope ya don't mind...
 
--£25 quid a month - - absolute bargain.

Hugo - ignore all the buffoons, I’m sure there are many "lurkers" out here , like me, that are more than happy to pay a small subscription in return for your regular commitment to your site.

>>SallyT - get a life.
 
Barney Rubble
So you say you're a lurker.
But you only joined today !
Obviously someone who needs to hide behind a different handle.
Now who could that be ?

Glenn

Editted by FTSE Beater for unfriendly message
 
I'd stick to being a 'lurker' barney - although i can't help but think that all of the people who have like 1 or 2 posts to there name all suddenly beating the same drum are the same people, haha

ill never know...
 
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