Hi,
The system documentation and training videos both advocate an emergency stop level and have a built in exit strategy based on one of the indicators, at most I've never risked more than 30 pips and the average loss experienced is around the 15-20 pip mark.
I believe that any 'system' is only as good as the person trading it and the money management rules you apply to it. I use UTM to give me direction (as I do with my own methodology) and from there I manage the trade within my own comfort zone of risk and profit expectation.
I agree, the UTM system, as with most, isnt rocket science, and they did charge a fairly hefty fee (although not as much as some), but it works for me and suits my style well.
At the end of the day its horses for courses, I've paid for many systems over the past 3 years and most have turned out to be nothing but tripe, UTM has proven to be a workable methodology for me...then again, maybe if I'd applied the same mindset that I have now to systems trading in the past, they may have been successful also.
My point...I suppose is that it comes down to the individual as to whether they are going to be successful or not, regardless of the 'system', and the application of a money management strategy that you are comfortable with.
This is simply what works for me and is no recommendation or pitch for the UTM strategy.
Dave.
The system documentation and training videos both advocate an emergency stop level and have a built in exit strategy based on one of the indicators, at most I've never risked more than 30 pips and the average loss experienced is around the 15-20 pip mark.
I believe that any 'system' is only as good as the person trading it and the money management rules you apply to it. I use UTM to give me direction (as I do with my own methodology) and from there I manage the trade within my own comfort zone of risk and profit expectation.
I agree, the UTM system, as with most, isnt rocket science, and they did charge a fairly hefty fee (although not as much as some), but it works for me and suits my style well.
At the end of the day its horses for courses, I've paid for many systems over the past 3 years and most have turned out to be nothing but tripe, UTM has proven to be a workable methodology for me...then again, maybe if I'd applied the same mindset that I have now to systems trading in the past, they may have been successful also.
My point...I suppose is that it comes down to the individual as to whether they are going to be successful or not, regardless of the 'system', and the application of a money management strategy that you are comfortable with.
This is simply what works for me and is no recommendation or pitch for the UTM strategy.
Dave.