Re: £400 a day ftse trading

[fibonelli]

Apparently the seller is called "thejester9". ??????? pile of ????

 

[aquamarina]

that feedback could be from his friends... by making a transaction via ebay, he'll only have to pay ebay final value fees, which for £97 would be around £7-10 for each sell. So ten friends, he pays ebay £70 quid, "receives payments" by cheques so as not to pay paypal... gets feedback, people will be pulling in thinking it's geniune feedback. Only one real purcharse will cover all his costs, after it's like a herd of sheep, people will be buying as the system does work as his friends' feedback claims.

Then again, I might be wrong! Maybe he has something developed for 10pips (but then again with recent FTSE volatility, 10 pips a day is not a rocket science...

He's using IG index, so I thought I'd have a look at those days, and see where MACD/RSI etc are at his entry points, however IG does not hold data for more than a month, so there goes that idea. Guess fate is saying "dont bother, don't waste your time!"

 

[Trader333]

The cost to those who have given feedback was only £77 and it has since gone up in price to £95. Like I said it just looks strange.


Paul

 

[chilltrader]

Well said FXSCALPER, thats the crux of it really- Trading is a personal business and logic should tell you that if any system works, then by definition, there is no point in selling it. There are many systems that do work some of the time, but none that work all of the time. Just think about it for a moment. For a system to "work", it must only average slightly more gains than losses + costs. A working system only needs to be able to net gain a few points per day or whatever time period. Then by increasing your position size you could soon be raking in the millions. If this were possible, then dont you think that the likes of Meryll Lynch et al, with all their resources brought to bear would have such a system, and would have sucked out all the money in the markets a long time ago.

The few successful traders that survive do so through years of patient study of the markets and of self, then combined with a good system or strategy, one can consistently make a profit- Having reached that level of expertise, then there is nothing to be gained by doing it for someone else.

In my opinion, learning to trade is like learning to be a professional tennis player. You have to invest a huge amount of time and effort to get anywhere close to making it, and it costs a fortune in blood sweat and tears as well as money, and even then, theres no guarantee that you'll make it to wimbledon

Not entirely true.. Merrill etc don't have a single trading program nor do they have only 1 trader doing all trades for them. Its a shop with many traders. Out of those there are some STAR traders (now these could well be sucking in loads of money). However there are bad traders which lose money for Merill.
Also money in the markets is not constant. Its always growing, so its impossible to suck it dry!
But again, if you look at the best in the business.. i.e Goldman, give them a few years and they sure might suck the markets dry
The rest are of course solving there sub-prime account sheet (sh*t)!

 

[stevespray]

Had a quick look at the system via ebay. He says in his sales patter that its not MA crossover based signals although something like that is drawn. If you read right through he does offer a money back g/tee and daily email support which shows the trade set ups. At the end of the day its only £97 and therefore a long way off the normal scammer stuff and seminars at £2,997+VAT! My guess is that it might give the potential for the basis of some kind of intraday system if you have the strength of mind to follow all the signals. The reason most systems 'fail' is down the person controlling it not trusting the signals. The charts shown looks like Capital Spreads which has a 1 point spread in hours so it is based on a market which is atleast low in trading costs.

Steve.

 

[lyallbs]

Hello!

This is my first post, so be gentle...

I just bought this system on eBay, and thought I'd let you all know that it does work, and works well :] I've not traded FTSE before (I've only traded Forex using MetaTrader) and basically what he's selling is an easy to understand strategy. Who knows, maybe next week I'll have lost all my money and be back to where I started so you can all say 'told you so', but until then this seems pretty genuine. Unlike most other systems on eBay... I would say this is worth the price, relative to other systems I have paid for.

The email support and daily updates are good too, and he seems like quite a nice guy (and before anyone says it, no he is not a relative of mine lol).

From my point of view this is good, because I know f**k all about trading FTSE!!! I needed an idiot proof guide on how to make money, and that's exactly what I got. I am a sucker for advertising and over the years I have forked out god knows how much on scams, systems etc... How am I supposed to be able to resist the pretty coloured fonts and testimonials? NOOOOOOOOOOOOOOO!!!!

Anyway. Yeah. Seems to work if you have the self discipline to stick to the system. If it all blows up in my face I'll let you know!

Cheers,
Lyall (a very inexperiences FTSE trader)

 

[stevespray]

Hello!

This is my first post, so be gentle...

I just bought this system on eBay, and thought I'd let you all know that it does work, and works well :] I've not traded FTSE before (I've only traded Forex using MetaTrader) and basically what he's selling is an easy to understand strategy. Who knows, maybe next week I'll have lost all my money and be back to where I started so you can all say 'told you so', but until then this seems pretty genuine. Unlike most other systems on eBay... I would say this is worth the price, relative to other systems I have paid for.

The email support and daily updates are good too, and he seems like quite a nice guy (and before anyone says it, no he is not a relative of mine lol).

From my point of view this is good, because I know f**k all about trading FTSE!!! I needed an idiot proof guide on how to make money, and that's exactly what I got. I am a sucker for advertising and over the years I have forked out god knows how much on scams, systems etc... How am I supposed to be able to resist the pretty coloured fonts and testimonials? NOOOOOOOOOOOOOOO!!!!

Anyway. Yeah. Seems to work if you have the self discipline to stick to the system. If it all blows up in my face I'll let you know!

Cheers,
Lyall (a very inexperiences FTSE trader)

How many signals a day does it generally produce? (Assuming FTSE hours are 8am until 4.30pm).

Thanks for your feedback,
Steve.

 

[pseudo straddle]

Hello!

This is my first post, so be gentle...

I just bought this system on eBay, and thought I'd let you all know that it does work, and works well :] I've not traded FTSE before (I've only traded Forex using MetaTrader) and basically what he's selling is an easy to understand strategy. Who knows, maybe next week I'll have lost all my money and be back to where I started so you can all say 'told you so', but until then this seems pretty genuine. Unlike most other systems on eBay... I would say this is worth the price, relative to other systems I have paid for.

The email support and daily updates are good too, and he seems like quite a nice guy (and before anyone says it, no he is not a relative of mine lol).

From my point of view this is good, because I know f**k all about trading FTSE!!! I needed an idiot proof guide on how to make money, and that's exactly what I got. I am a sucker for advertising and over the years I have forked out god knows how much on scams, systems etc... How am I supposed to be able to resist the pretty coloured fonts and testimonials? NOOOOOOOOOOOOOOO!!!!

Anyway. Yeah. Seems to work if you have the self discipline to stick to the system. If it all blows up in my face I'll let you know!

Cheers,
Lyall (a very inexperiences FTSE trader)

Lyall, this seems to read very much like another FTSE system that has been discussed here.

For example, his charts seem to show a target of 10 pips with a stop loss of 15 pips. Which means you need to be right 2/3 of the time to break even! And the signal - is it based on the price going in a certain direction for a certain number of bars or candlesticks?

:?:

 

[tar]

You have to invest a huge amount of time and effort to get anywhere close to making it, and it costs a fortune in blood sweat and tears as well as money, and even then, theres no guarantee that you'll make it to wimbledon

This is exactly whats happening with me i hope i will put an end to it soon

 

[lyallbs]

The system used MACD indicators - that's all I can say really, as I respect the author's privacy (if I'd written something I wouldn't want someone giving it away!). Generally it gives about 4 or 5 signals a day in trading hours.

Ta

 

[stevespray]

The system used MACD indicators - that's all I can say really, as I respect the author's privacy (if I'd written something I wouldn't want someone giving it away!). Generally it gives about 4 or 5 signals a day in trading hours.

Ta

Are the signals given intra bar (as the bar is forming) or after completion of a bar?

Quite a few systems look good on charts (when you try an eye ball backtest) because signals which fired in realtime (and resulted in a loss) can be filtered out as you can only see the indicator position as recorded on the chart at the bar close.

Steve.

 

[pseudo straddle]

The system used MACD indicators - that's all I can say really, as I respect the author's privacy (if I'd written something I wouldn't want someone giving it away!). Generally it gives about 4 or 5 signals a day in trading hours.

Ta

Hi lyallbs,

are you still looking in?

I see the system vendor got a negative on eBay today - was it warranted do you think?

is it still making you money?

:?:

 

[stevespray]

Five sales this week - 4 Positive and 1 negative. Vendor has replied to negative feedback..."You only just bought the system today".

Still, a nice £500 in the bag for the vendor!

Steve.

 

[lyallbs]

Hi lyallbs,

are you still looking in?

I see the system vendor got a negative on eBay today - was it warranted do you think?

is it still making you money?

:?:

Hey

Yeah it seems to still be making me money.... Trouble is I go to work at 8am and get back at 6pm, so usually I'm only able to catch one or two trades a day (and knowing my luck, usually losing ones!). Yesterday I signed up for finspreads.com as I can trade on their platform 24hrs a day which suits me better, although the spreads are much larger out of hours.

I don't know if the information the vendor is selling is available elsewhere (probably is) but it's the daily updates that are particularly useful to me as a beginner to help me spot all the opportunities. The emails detail when the seller entered trades (buy and sell) throughout the day and the total number of pips taken at the end of the day. Average daily is 40-50 pips this week.

It's a learning curve for me... and it's making me money too! :]

Lyall

 

[datav]

Hello!

This is my first post, so be gentle...

I just bought this system on eBay, and thought I'd let you all know that it does work, and works well :] I've not traded FTSE before (I've only traded Forex using MetaTrader) and basically what he's selling is an easy to understand strategy. Who knows, maybe next week I'll have lost all my money and be back to where I started so you can all say 'told you so', but until then this seems pretty genuine. Unlike most other systems on eBay... I would say this is worth the price, relative to other systems I have paid for.

The email support and daily updates are good too, and he seems like quite a nice guy (and before anyone says it, no he is not a relative of mine lol).

From my point of view this is good, because I know f**k all about trading FTSE!!! I needed an idiot proof guide on how to make money, and that's exactly what I got. I am a sucker for advertising and over the years I have forked out god knows how much on scams, systems etc... How am I supposed to be able to resist the pretty coloured fonts and testimonials? NOOOOOOOOOOOOOOO!!!!

Anyway. Yeah. Seems to work if you have the self discipline to stick to the system. If it all blows up in my face I'll let you know!

Cheers,
Lyall (a very inexperiences FTSE trader)

If you know nothing about trading then you should not be trading, period, as our friends across the pond say. Now that you have bought this system, do yourself a favour and follow it on a simulated account for at least acouple of months before committing real money

 

[lyallbs]

If you know nothing about trading then you should not be trading, period, as our friends across the pond say. Now that you have bought this system, do yourself a favour and follow it on a simulated account for at least acouple of months before committing real money

Good advice!

I've traded Forex before (practice and live) and I've traded FTSE before (practice) and I tested the system briefly. You're absolutely right - I should not be trading on a live account until I'm more experienced, but I'm inpatient. I'm only trading about 10p-£1/pip at the moment though so I'm not exposing myself to any great risks (as I use stop loss on orders). This is a hobby at the moment as I work full time, and I want to make sure it works. For some reason in the past when I run accounts/systems on fake money (ie £5000) they seem to work, but when I open a live account based on the success of the practice account it rarely has a similar outcome. This time I wanted to make sure that everything is accurate. If, in a couple of months, all is still going well I will consider placing orders for more realistic amounts of money.

I don't want to come accross as a complete idiot, but I suppose on many levels I am...

Cheers,
Lyall

 

[datav]

impatience can be very expensive in this game.
Testing the system on 10p per point though is reasonable, because, as you point out, its easy to make money on a demo account. This is because (a)the Spread bet firms make it easier, by reducing the volatility on the demo platform, to encourage you to open a real account, and (b) because you have no emotional issues to deal with when its not real money, and so its much easier to follow the system.
I'm probably more of an idiot than you. dont sweat it. There's nothing like trading to bring out the idiot in all of us.

 

[Phil Mibbutz]

Sounds like a great system to me. I'm going to buy two and make £800 a day!

 

[pseudo straddle]

Sounds like a great system to me. I'm going to buy two and make £800 a day!

 

[lyallbs]

Sounds like a great system to me. I'm going to buy two and make £800 a day!

haha! good plan...

I've been looking around this forum and I notice that Finspreads aren't actually that good (and I've already noticed that their platform/prices are slow when trading). I'm also not too sure about their stop losses.... So I think I'm going to move my 'enlarged' balance to another place...

Anyone know what the out of hours spreads are like at CMC? I can't seem to find out from their website or documents. Are CMC any good generally? What's the chart update frequency like? Are they reliable/trustworthy? Do they use the same charts (IT-Finance) as the others do like Finspreads and CapitalSpreads?

I had a look at IG Index but I don't think they do out of hours trades which is really what I need (at the moment at least).

Thanks for your help!
Lyall