0007
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John Piper's Trading Protege Course.
- Thread starter stevespray
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0007
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Don't worry about Cliff. Mrs 007 has long wanted to take a contract out on the world's oldest teenager.
I wouldnt waste my time on this as:
1) Even if a strategy is genuinely successful, IG (or any binary provider) will make life difficult for the trader.
2) Even if this fails and more people adopt "successful strategies" and it gets to a level where most traders are winning (very hypothetical), IG will simply stop doing binaries!
1) Even if a strategy is genuinely successful, IG (or any binary provider) will make life difficult for the trader.
2) Even if this fails and more people adopt "successful strategies" and it gets to a level where most traders are winning (very hypothetical), IG will simply stop doing binaries!
donaldduke
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Actually it becomes harder and harder for a large group of people to use the same strategy on binaries.This is because the IG prices are adjusted based on punter positions.
Lets say the binary price to buy is 10. And the system everyone has been taught gives a buy signal. The first few punters will get 10,. but IG will then move the price to 13 and then 16... as more and more punters place the same bet..
Those that got in last will get a much worse risk to reward ratio than those who got in early.
And it gets worse, when you get very profitable at binaries, IG wont even fill you at 10, they will reject you, while you were on hold waiting for the fill/rejection they will move the quoted price to 15, tell you the 10 'price is no longer valid' and ask you to try again. The only reason the 10 price is no longer valid is because you, a profitable punter, wanted to bet on it.
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Well exactly so even if you master binaries there will be a point where you encounter hurdles so no point training for it. it is not something real. maybe in 5 years there wont be any more binaries but currencies, futures and stocks will be there forever.
stevespray
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I think when you dont trade too often with big positions (lets say 10+/point you wont get into trouble with them...
I think that every so often they look at results. Kind of like a sweep of clients accounts. This reveals what they need to know. I dont think it's a case of often or not - if you get detected and flagged then all bets get the 'manual execution' treatment and that system is then open to the abuse which DD is talking about.
Steve.
Did Anyone Go?
28th March was the date (apparently there is a new date - 4th April). Did anyone go? - did you last the day and make money - or did you ask for your money back by 11.00. It would be good to hear whether the sceptics should be silenced or not.
Incidently there is a "Masterclass" supplement to his week's Investors Chronicle devoted to fixed odds financial betting in which John Piper has an article. The supplement looks suspiciously like an "advertorial" for Betonmarkets.
28th March was the date (apparently there is a new date - 4th April). Did anyone go? - did you last the day and make money - or did you ask for your money back by 11.00. It would be good to hear whether the sceptics should be silenced or not.
Incidently there is a "Masterclass" supplement to his week's Investors Chronicle devoted to fixed odds financial betting in which John Piper has an article. The supplement looks suspiciously like an "advertorial" for Betonmarkets.
jondowns1259
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John Piper Pipes Again
It would certainly seem that John Piper is on a 'charm' offensive. He has even managed to clamber into the pages of Investors Chronicles, writing for its investment master class. (28th March - 3rd April Issue).
I really enjoyed how he managed to turn a supposedly informative article on binary betting into a sales pitch that any used car sales person would be proud of. "Here is a complete list of bets I recommended to my subscribers"; oh really John, your "subscribers" . . . Why do we need to know that you recommended these bets? I think old John is in need of a cash injection -- I hope that people will take heed and not listen to his piping, otherwise like the rats of the fairytale they will be drowned in a river of disappointment. John then goes on to list the advantages of arbitrage, "anyone like some free money?"; sure John, but I'm not stupid. I feel sorry for the people who follow the link to his website and pay the hefty fee for this information. I mean come on who wouldn't want to rack up "more than 20 per cent over a few weeks" -- though in fairness he does start the sentence with "A few times"; Wow John, calm down. I'm still palpitating from the "free money".
It would certainly seem that John Piper is on a 'charm' offensive. He has even managed to clamber into the pages of Investors Chronicles, writing for its investment master class. (28th March - 3rd April Issue).
I really enjoyed how he managed to turn a supposedly informative article on binary betting into a sales pitch that any used car sales person would be proud of. "Here is a complete list of bets I recommended to my subscribers"; oh really John, your "subscribers" . . . Why do we need to know that you recommended these bets? I think old John is in need of a cash injection -- I hope that people will take heed and not listen to his piping, otherwise like the rats of the fairytale they will be drowned in a river of disappointment. John then goes on to list the advantages of arbitrage, "anyone like some free money?"; sure John, but I'm not stupid. I feel sorry for the people who follow the link to his website and pay the hefty fee for this information. I mean come on who wouldn't want to rack up "more than 20 per cent over a few weeks" -- though in fairness he does start the sentence with "A few times"; Wow John, calm down. I'm still palpitating from the "free money".
john piper's trading course 4th April 08
yes, I arrived at 9.30am and found it very interesting ( having heard of lots of crap over the internet about this will make you that, million quid in one year etc)
The guy was quite refreshing, and, I believe, honest! He did not, as a lot of the sceptics have already commented, put on a gimmicky show that looked cheap or gave illusion of a 'double glazing salesman', and yes, he did refund a elderly spanish gentleman at around 11am, and didn't argue the fact, he just gave him his refund, and the guy left the room, no questions asked!
The rest of the day was filled with info I could personally use in real time trading, and so, came away with a lot more than I went in with.
He also told everybody in the room, that you should expect to win no more than 50% of the time, but sometimes less than that, and that trading was mostly 90% your psychology, and good money management, stops, trailing stops etc (which we all know is the foundation of all good trading). He showed methods of back testing and forward testing, minus development and not believing in too many lagging indicators!
The binary betting side of things was another tool I will use in my trading, providing it is used with good timing.
By the way, I am self taught, having started back in 1998, and this last year have had great results with my trading (from home) and I am like the majority of guys in this game, a real junkie for improving my performance.
What I am flabbergasted at is the amount of people on this sight who slag traders off, without gathering facts first, and all I can say is if that's the best they can do, then they should try some other profession, as it is surely doing no good for any positive, enthusiastic traders who come here to learn, not MOAN!!!
It is easy to poke fun at others expense, and yes, I know they charge money for their seminars, I would, as it just the same as in trading, you are taking somebody else's money, so what the hell's the difference?
Good luck to all you guys out there, in one of the hardest, toughest businesses in the world, trying to do it right and successfully.
Regards
Aldo
yes, I arrived at 9.30am and found it very interesting ( having heard of lots of crap over the internet about this will make you that, million quid in one year etc)The guy was quite refreshing, and, I believe, honest! He did not, as a lot of the sceptics have already commented, put on a gimmicky show that looked cheap or gave illusion of a 'double glazing salesman', and yes, he did refund a elderly spanish gentleman at around 11am, and didn't argue the fact, he just gave him his refund, and the guy left the room, no questions asked!
The rest of the day was filled with info I could personally use in real time trading, and so, came away with a lot more than I went in with.
He also told everybody in the room, that you should expect to win no more than 50% of the time, but sometimes less than that, and that trading was mostly 90% your psychology, and good money management, stops, trailing stops etc (which we all know is the foundation of all good trading). He showed methods of back testing and forward testing, minus development and not believing in too many lagging indicators!
The binary betting side of things was another tool I will use in my trading, providing it is used with good timing.
By the way, I am self taught, having started back in 1998, and this last year have had great results with my trading (from home) and I am like the majority of guys in this game, a real junkie for improving my performance.
What I am flabbergasted at is the amount of people on this sight who slag traders off, without gathering facts first, and all I can say is if that's the best they can do, then they should try some other profession, as it is surely doing no good for any positive, enthusiastic traders who come here to learn, not MOAN!!!
It is easy to poke fun at others expense, and yes, I know they charge money for their seminars, I would, as it just the same as in trading, you are taking somebody else's money, so what the hell's the difference?
Good luck to all you guys out there, in one of the hardest, toughest businesses in the world, trying to do it right and successfully.
Regards
Aldo
stevespray
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The guy was quite refreshing, and, I believe, honest! He did not, as a lot of the sceptics have already commented, put on a gimmicky show that looked cheap or gave illusion of a 'double glazing salesman', and yes, he did refund a elderly spanish gentleman at around 11am, and didn't argue the fact, he just gave him his refund, and the guy left the room, no questions asked!
The rest of the day was filled with info I could personally use in real time trading, and so, came away with a lot more than I went in with.
He also told everybody in the room, that you should expect to win no more than 50% of the time, but sometimes less than that, and that trading was mostly 90% your psychology, and good money management, stops, trailing stops etc (which we all know is the foundation of all good trading). He showed methods of back testing and forward testing, minus development and not believing in too many lagging indicators!
The binary betting side of things was another tool I will use in my trading, providing it is used with good timing.
By the way, I am self taught, having started back in 1998, and this last year have had great results with my trading (from home) and I am like the majority of guys in this game, a real junkie for improving my performance.
What I am flabbergasted at is the amount of people on this sight who slag traders off, without gathering facts first, and all I can say is if that's the best they can do, then they should try some other profession, as it is surely doing no good for any positive, enthusiastic traders who come here to learn, not MOAN!!!
It is easy to poke fun at others expense, and yes, I know they charge money for their seminars, I would, as it just the same as in trading, you are taking somebody else's money, so what the hell's the difference?
Good luck to all you guys out there, in one of the hardest, toughest businesses in the world, trying to do it right and successfully.
Regards
Aldo
Interesting stuff. Thanks for the feedback.
Can I ask about the Binary stuff? In the sales letter which I got the seminar seemed to be purely of a Binary Bet nature. This is what drew my attention along with the apparent staggering results which JP himself implied that he enjoyed. So my question would be; Did he actually share a binary strategy with a working methodology which you can take away, apply, and therefore make money? This would lead me to ask you; Have you started trading the methodolgy yet? And; How much money are you making / losing by following the method?
I ask all this because I have noticed that people can come away from some seminars with an almost euphoric mindset which leads to people writing all kinds of testimonials and reports on how good things were before they have even made a bean in profit from the method taught.
Look forward to your further insight,
Steve.
macdougall
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I take it aldo is JohnPiper??? Is his tipping sheet any good and is he the mystery expert behind www.financialbinary.com?
stevespray
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I wouldnt like to speculate. We are always sceptical of people with a low number of posts who come here and then post links to external sites selling snake oil.
You can tell all that you need to know from the financialbinary site by reading the title bar;
"tips so hot the bookies want them banned"..... LOL
Perhaps what it should read is something like; "Tips so hot that we dont bother following them ourselves and instead sell them for £260".... that would be a fair reflection of the tips I guess.
Steve.
macdougall
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Yes indeed, I am sure the bookies are quaking in their boots at the thought.
ravenglass
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