Promising system?

[Jova]

Hi,

I recently came in contact with a money manager. He uses a trading system that’s based on neural network analysation. The results look very promising, however, I have not enough experience in forex trading to make a clear judgement.. I would like to ask you guys (who are more familiar with it) to comment on this. I’m planning to invest in it, but would like to follow the results for a few more weeks. I will post daily the results the money manager makes.

These are the coordinates of a demo account that uses this system.

Startingdate: 4 september 2008
Startingamount: 10.000$
Balance at this moment: 16.099$

Login: 810096
Read only password: neural22
Server: MIG-Demo

 

[trendie]

Hi,

I recently came in contact with a money manager. He uses a trading system that’s based on neural network analysation. The results look very promising, however, I have not enough experience in forex trading to make a clear judgement.. I would like to ask you guys (who are more familiar with it) to comment on this. I’m planning to invest in it, but would like to follow the results for a few more weeks. I will post daily the results the money manager makes.

These are the coordinates of a demo account that uses this system.

Startingdate: 4 september 2008
Startingamount: 10.000$
Balance at this moment: 16.099$

Login: 810096
Read only password: neural22
Server: MIG-Demo

ask this guy for the logins/passwords for all his other demo accounts that lost money in that same period.

ask this guy to run a mini-account with real money.

ask this guy for a sample test on previous periods, for example, the choppy April/May, and how his neural network would have worked then.

good luck.

 

[Jova]

thanks Trendie, will do that

 

[Jova]

Update of Results:

Startingdate: 4 september 2008
Startingamount: 10.000$
Balance at this moment: 18 696$

Login: 810096
Read only password: neural22
Server: MIG-Demo

 

[tqtran]

Forget the Demo accounts. Its easy to make money when its not real.
Ask for results on a LIVE account. If he's not making real money with it, then walk away from it.

 

[Jova]

Update of results:


Startingdate: 4 september 2008

Startingamount: 10.000$

Balance at this moment: 18 910$



Login: 810096

Read only password: neural22

Server: MIG-Demo

 

[Jova]

Forget the Demo accounts. Its easy to make money when its not real.
Ask for results on a LIVE account. If he's not making real money with it, then walk away from it.

I asked the people of MIGfx if there is a difference between the live and demo accounts.
And they said the difference was unrelevant, same price feed, only small slippage during news events.

 

[tqtran]

I asked the people of MIGfx if there is a difference between the live and demo accounts.
And they said the difference was unrelevant, same price feed, only small slippage during news events.

Yes but it is the human effect that they are not stating.
Any trader can make money on a demo but when it comes to a LIVE account, thats where the kids go home and the men stay.
I would not trust any trader or company that can not produce sustained gains on a LIVE account.
I am guessing that the reason they can't procure results on a LIVE account is because they are losing money, it is not as good as they state, or they are hiding something.

 

[westernforce]

Same ol, same ol
newbie asking questions what we think of a system, doesn't care for the answers, and continues to plug the seller.

 

[Jova]

Same ol, same ol
newbie asking questions what we think of a system, doesn't care for the answers, and continues to plug the seller.

I'm not pluggin anyone and I do care about the answers, all of them I forward to this moneymanager, on this way I learn more everyday.
I just don't want to walk on overnights ice.

 

[Jova]

I forwarded these remarks to the moneymanager and he answered this:

ask this guy for the logins/passwords for all his other demo accounts that lost money in that same period.

He says he is only running 1 demo with 1 system.

ask this guy to run a mini-account with real money.

He is sending me daily results of a mini-account from now.

ask this guy for a sample test on previous periods, for example, the choppy April/May, and how his neural network would have worked then.

good luck.

He told me his system works best in a ranging market, situation now is simular to april/may he stated.

Thanks for your input Trendie.

 

[Jova]

Update of Results:

Startingdate: 4 september 2008
Startingamount: 10.000$
Balance at this moment: 19 120$

Login: 810096
Read only password: neural22
Server: MIG-Demo

 

[Adamus]

Theoretically you should be able to make money investing in other people's systems, but I figure it's just as hard as trading for yourself.

You have to learn how to identify a decent system writer, who has written profitable systems before and has the psychological profile that stops him/her trading the systems for themselves. (Not having enough money yourself is not a reason - it just shows you're newby system writer).

You have to learn how to identify a decent system, and to be happy with its performance and to know when to get in or get out of it.

Look at it like a trader taking on a trade. Put 5% of your capital into a system you think you're happy with, and be prepared to lose it and learn from what the experience teaches you. That's the way I'd approach it.

 

[Jova]

Update of results:


Startingdate: 4 september 2008

Startingamount: 10.000$

Balance at this moment: 19 905$



Login: 810096

Read only password: neural22

Server: MIG-Demo

 

[Jova]

Theoretically you should be able to make money investing in other people's systems, but I figure it's just as hard as trading for yourself.

You have to learn how to identify a decent system writer, who has written profitable systems before and has the psychological profile that stops him/her trading the systems for themselves. (Not having enough money yourself is not a reason - it just shows you're newby system writer).

You have to learn how to identify a decent system, and to be happy with its performance and to know when to get in or get out of it.

Look at it like a trader taking on a trade. Put 5% of your capital into a system you think you're happy with, and be prepared to lose it and learn from what the experience teaches you. That's the way I'd approach it.

I think you have a good approach.

I have several accounts mannaged by option traders (forex is new for me).
Before I start with a new trader, I always follow their trading for a while.

Some use simple straddles up to verry complicated constructions, mostly the more complicated they are the most profitable they should be.
However in options the premiums and expiry value loss are killing allot of the profit.

Because in forex the only costs are the spread this gives mutch more possibilities.
In options those kind of returns are not possible.

Offcourse when I use a new trader I never put in more then 5% of my investment capital.
When I feel comfortable with it I sometimes increasse that percentage.

 

[Adamus]

Being in Monaco presumably gives you a nice tax advantage compared to the UK, I guess.

 

[Hoggums]

Jova,

Why don't you admit you are a vendor and trying to sell a system?

 

[Jova]

Jova,

Why don't you admit you are a vendor and trying to sell a system?

I'm not selling annything, and besides that they don't sell the system...

 

[Jova]

Being in Monaco presumably gives you a nice tax advantage compared to the UK, I guess.

It sure does

 

[Jova]

Startingdate: 4 september 2008
Startingamount: 10.000$
Balance at this moment: 20 102$

Login: 810096
Read only password: neural22
Server: MIG-Demo