The developer has an amazing track record for 2008/2009. But, none of us have any idea what he is doing, other than it is probably trend-based. We had a decline, then a rally of historic proportions. The key question the developer should comment on is: based on his knowledge of the system, how does HE expect the system to perform in a choppy, non-trending market. Seems to me the system is performing poorly at present...) I also think he needs to explain a bit more what he is doing, when the system works, and when it is expected to breakdown, so that we can make informed decisions rather than just "having faith in him".
Generally I like this system ETF Timer. However I think the Signal provider is limiting his System, by mostly only giving signals near the end of the day as Smart Phones mobile trading is now possible. I was also a Bit miffed, by the timing of latest signal, ie 21st Jul, when there is so much uncertainty regarding Market direction following the imminent European Stress tests due Friday 23rd Jul.
Use system at own peril. Although winning percentage is high, vendor uses no stop losses and waits for reversal back. Very dangerous as can see from closing trade on 7/15/10. Need an iron stomach for those drawdowns.
Impressive equity curve, but beware of the hidden risks with this system. If you download the historical trades you'll see a couple of trades with really big drawdowns (17% and 22%). Those trades recovered, but sooner or later the market will keep moving against one of those highly leveraged positions. It's too much risk for me, so I unsubscribed before I started trading it.
I was lucky to start relatively early and reaped great rewards. Now the system is doing its best to adapt to the changed market. Some people who autotraded at OX complaint that they did not get filled at the short sales, however, the vendor who communicates with subs frequently warned against using OX. OX, in my opinion, might work for options but is a very poor choice for autotrading stock and futures systems. ID
I think it is somewhat funny that a previous poster stated how the system is a trending system only and a couple of trades dont mean anything. I am very impressed witj the results. te. This system is up 20 percent YTD. Is the Nasdaq up that much? The results of this system since inception is speaks for itself..
It seems the system is more of a trend following system than a range bound system(buy/sell based on overbought/oversold conditions).
The system performs extremely well on Strong Down trend year (2008) and Strong Up trend year (2009). However, the system can choke on range bound(no clear trend) market, such as year 2010.
On 07/06/2010, market clearly showed a double bottom for QQQQ and very likely to rebound for the following days. However, the developer insists to short the market at that point and ended a losing trade.
Past results is not a good indicator of the future and the last 2 or 3 or even 30 or so trades is not a significant amount of trades to draw any conclusions about performance.
Careful or the wiz will wiz your cash down the drain. Removes stops he has when price gets close then adds to the losing positions to magnify loss in desperate attempt to recoup. Trades then turn into disaster.
I have been trading this system actively for about 3 months and pnl-wise its performance has been flat for me. Despite that, overall I would say it's a very tradable system and there's hoping that the equity curve starts moving up again.
My observations:
* Generally speaking the stocks being shorted are available for borrowing in Interactive Brokers.
* I wouldn't attempt to trade it manually due to rapid exit order entry and cancel that often occur after the initial position entry.
* The system's profitability is cyclical (as seen on the equity curve) and dependent on market conditions.
* The developer communicates often with the subscribers and answers any questions promptly.
Hard to say anything meaningful after just 5 days, but sticking to facts: 23 trades: 6 losses 8 wins and the rest about BE. I would have made 1926$ gross according to the autotrade page. Not bad, and about in line with recent performance .Profit was all due to 2 Dax trades (1,708 and 1,188$ respectively) and the worst losses (-970 and -650) were both on Gold, which makes me wondering and prompts some more research on past trades
Needs to be autotraded, all the more so as it looks like it uses generally market orders. So you need to feel comfortable with autotrading
Overall I thought this is a good system. This test did little to change my mind
The reason I write this review is because I cannot understand why anybody would give a one star rating to a system with a performance record like this one.
In front af a 245 USD average win, a 2372 USD loss is definitely very high. This system is extremely risky and has not an efficient stop loss management.
Besides that, it has no support: I wrote an email to them the day before yesterday proposing a tighter stop loss and I didnt receive even an answer.
Keeping open a position over the week end is - in my opinion - very risky, I should say crazy. In detail, the current EurUsd short position today was winning for a long time; now it's losing and besides it's swapped over the week end, with nobody knows what possible news. Not good indeed.
I will not renew my subscription.
Great system. In February I set aside $160,000, the listed value of the system at that time. I caught up by buying the number of shares owned by the plan at that time and have since followed each buy and sell recommendation. Twice my emotions got the better of me and I sold prematurely and ended up buying back at a higher price.) In the four months as a member I am up over $43,000. I wish the rest of my money was doing as well. This system fits my emotions quite well.
I definitely like the system. I tries to catch extremes, where it is often successful. It is traded manually. The provider really cares and listen to his subscribers. - And acts accordingly.
Actually the system flatlined due to some unsuccessful trades in these stormy times. But I still think he handled it well.
I am now unsubscribing, as I currently see no longer an option for autotrading with IB, which does not encur too significant costs. - Otherwise I would stick with the system.
So, probably it will go up now again :)
Willing to accept larger drawdowns than this subscriber is comfortable with. Hard to see how all 5 of the indicators could have indicated a long position during this recent market drop.
This system does not work plain and simple. It has ridiculously wild swings and simply put will lose you money. The owner adds in new functionality almost at whim from his over eager group members. If anyone posts a negative comment he simply waits until the system is positive and rebukes the others statements. As of now this system has lost over 5% for 7 out of the last 8 months. Since the market bottom last March the system has underperformed the simple index buy and hold, by at least -20%. I traded this system for over a year and lost alot of capital doing so - I would not recommend this system.
I've been with ETF Timer for about 6 months and have been very impressed with its results.
It has several aspects MOST systems do not have such as: 1) Excellent Equity Curve with reasonable drawdowns. 2) Few trades for a swing trading system that allows for manual or auto trade options. 3) Exceptional communication from the developer. You know why he took action. 4) The monthly subscription is still very reasonable.
I have yet to find a system with such an outstanding risk/reward ratio and a developer with an even temperment. Believe it or not, he does not boast about his system. He provides helpful performance overviews, that's the most I've seen.
After subscribing for 14 months, my only regret is not allocating more money to this system. The system is easy to trade and trades very liquid ETFs, so slippage is not an issue.
I was first one to sign with this system. Within a month, I lost over $13,000, just because his computer had a virus. When it went down 154% with no stop limit, I got margin call from the bank and they closed my position. If you see the detail of his trade you will notice that he had the same margin call. I think he is using a paper money due to which his graph continued towards upward trend and shows recovery of that loss.
I will highly recommend that before signing up with any system just make sure you don’t sign with somebody’s system that is running it from home with 5 children or not being careful and get viruses. It’s easy for them to apologize because they are playing with paper money. It’s not easy for people who believed in them and put there really money online.
Agree with the other review - a knowledgeable trader running the system and a good back test but the reality has been very disappointing.
Does some rather odd things like going short after a large gap down in a raging bull market - that makes no sense and even the most junior trader would not do such a thing.
Had high hopes but rapidly losing confidence in this system.
