Stopped autotrading this system this morning. Have followed it using an OpenECry demo account for 10 days, but the demo account got out of sync with the hypothetical trades quite frequently resulting in a significant difference in performance. Lots of order cancellations with some cancellations arriving after order's already gone through resulting in the out-of-sync conditions. C2's sync technology not correcting the situation. Too many transactions to follow the system manually. Looked good on paper, but would barely have broken even after commissions.
I discovered the auto systems experts here at C2 and was very drawn to Craig's S&P index system and impressive results. Since joining we've been bruised a little but I'm confident Craig can regain his pattern of 3 steps forward and 1.5 back that got him to this point. Craig is going to get a few more weeks to coil his spring in a matter of speaking. All system that can deliver over 100% have heathy draw down at times. I'm giving Craig the benefit of the doubt here that his signals and methods are sound. I'll set my figurative stop loss down 20% from here on out with Craig, but he'll not let that trigger. He and the S&P will get in synch soon enough.
The trader sends unreliable signals. he make too many cancelation and adjustments to his signals. Also the signals are sent with random times.
Although this is a medium term system, you need to sit infront of your PC 24 hours not only to receive the signals, but also to make the changes/cancellation of the signals. and if you don't do that you lose a huge amount of pips since he use +300 pips stoploss.
I think he does not have solid technical analysis. though, he have very good news and fundamental analysis.
One of my major complaints, more about C2 than this system, results should be based on a more realistic starting number, like $10K. From Aug 1st onward, results with a starting capital of 10 K return is about 20% w/o margin. The drawdown in the last several trades is a higher risk than the returns for these trades has justified. I'll stay for a couple more months, but my present feelings are lukewarm at best. FWIW the pissing contest developing between this developer and the TMG guys…it detracts from what this sight is for. Bashing other systems does not reflect well. Rely on promoting your system on the strength of its results and don't feel that it is necessary to criticize what other people are doing. "Build the better mouse trap and the world will beat a path to your door"
Vendor personality: very friendly, attentive. Level of trading: amateur. Don't subscribe to this system! After increasing his subscription fee 10-fold, he rewarded his subscribers with a 60% drawdown. Now, the system looks like Pannonia I. Thank goodness I got out during the trial period and didn't suffer any losses.
I have been thinking about subscribing to this system but I am concerned as to why November is showing a 13% loss. What has changed to cause this drop ?? is something being done about it
Don't fall for it. 1) Real-life losing trades far exceed 95% win rate of backtest results developer emails subscribers. 2) Developer's 2 other systems are losers 3) Appears developer has integrity issues: bashes other c2 systems. Nov 29 2007 emails subscribers, "This (trade) is going to be a piece of cake." Trade loses money immediately. 4) Emails subscribers a backtest severely lacking in robustness, includes only 2 years of data. 5) Name is misleading, neither scalping system nor pairs trading, but a fair value prediction system. 6) Directional price prediction is, according to most research is futile (Fama). 7) Sometimes parks orders until 9:28 EST, implying system allows for discretion. 8) Seems to have a limited history as a developer, appearing to have graduated college in 2006.
I would like the operator of this system to explain why November results have been so bad. Have you changed your methods.. why are you down over 20%. I am wondering if if is worthwhile continuing with this loss making system unless there are very very good reasons
Like any system, it has its ups and downs, but in the end my account is positive so I'm happy. Let's keep the profits coming. Although the draw-down in the beginning was a little larger than I like, the end result has been profitable. Four stars out of five.
Profitable! Restored my faith in options trading... I've subscribed to several DataGlobe systems... These guys seem to know what they are doing! Very satisfied with the trades, I've been able to match the system trades manually with great accuracy.
Interesting! Currency Options are an exceptionally profitable way to follow the currency markets. HUGE profits to be made here! I made over 400% on YEN calls... This one's a keeper...
It is a long term trading system and the trader does not like to take profits and turns the big profits to loses. At some point you feel like that the trader does not care the system at all. He uses max-350 pip stop-losses which are very wide. So you need some serious account to trade this system and it is not definetly for short term traders. Despite the negative facts, he is a very good trader and performance and drawdown figures are really good, at least better than most of the traders here.
I think extreme-os was good in 2005-2006. I agree with Low realism factor with commissions. Since January after slippage and commissions lost -15% of account. This system good in C2 records only. Vendor decided don't change system until will have negative year. Result,- extremaly high drawdown and volatility not typical for this system.
The equity curve may look choppy, but I've been able to bank nice profits with this system. I've subscribed to several of the creator's systems - and am frankly impressed with their ability to profit in a variety of markets. System creator seems friendly and responsive to my questions. This and their FX-II are my exclusive forex systems on C2.
29213822 STC 17,155 ATS 1.95 1.95 0.00 11/19/07 9:30 ($21,786) $37,133 : I wonder how this trade was filled at 1.95. My Broker told me the opening was 1.81 bis to 1,95 offered. My execution was at 1.81!
The system is easy to use. Fills have been no problem at my broker. I subscribed to buy time to thrash out my own systems. Now, I have decided to continue to use Weekend Trader anyway in an attempt to diversify systems instead of just diversifying stocks. I don't auto-trade, so the number of trades and the amount of work matters to me, as does the number of trades I have to report to the IRS at year end. Weekend Trader takes very little time, allowing me to work on other strategies. I'm glad I subscribed.
Timing is a lot of what makes a system work. This system does not have it. Just quoting the stats compound annual is 5% after 207 days. DD at 17%. I believe to regain credibility it needs a short system, too. You can't just go long every single time. Sure there are long only systems and managers out there, but it takes both sides to trade. Realism is poor, and I believe even with an automated account that this isn't possible to trade. I've been very patient these last few months watching the system's trades, and it's been so long since I even remember one I'd consider remotely profitable. I think this system needs to be re-written. Performance statistics are very telling right now about its long term potential. Consistency is not here.
Good trades, but then saw a big drawdown, that will clean many small accounts, he recovered, then later big drawdowns came again, and trades with Extreme risk, and with big losses, you are at risk 30K to 50K USD by averaging the trades and hope, that the trades will get with profit or breakeven, traders know, that average down is risky, but there's a time when you must see, that those trades will not get better and must get out.
Your account must be big to support this, i will not trade it anymore, the author seems nice and gives personal messages to everyone time to time, but i will not give 5 stars because of drawdowns and several contracts holding overnight, which if it's not possible to you to maintain, will make the diference on your final balance to less money than it shows here.
I have subscribed for a month, because i saw the growing curve on the chart was great, and in the first days i done some nice trades, but then i saw that this system is based in dozens and dozens of orders and cancell orders every day in any time of the day, i doubt that is possible to trade this system without auto-trading, because the author sends buy and sell orders very quick, sometimes in seconds and sometimes orders to fill at the market, which is impossible to follow the same quote as him, and so the growing curve is never equal to ours, manually is impossible, i don't know if using auto-trading the growing curve will be similar to him, but manually, just forget it, you always get slippage. Best regards.
The present 40+% drawdown demonstrates the vendor’s recklessness and disregard for his subscribers. The vendor may argue that subscribers should not worry because the open position could eventually recover and end up in a mild loss or even a gain. But, that an irresponsible response because most subscribers would have already received margin calls and thus positions liquidated automatically with no chance of participating in the recovery from drawdown. Anyone who is thinking about a forex system on C2 should carefully consider this: do not put your money at risk until you see a long track-record that evidences responsible/religious use of stops. In summary, the vendor is an apathetic scoundrel.
I stand corrected in my previous review:
"While the system has performed well since I started the subscription in August 2007, I have two minor problems. One with the vendor, and one with C2. First, the vendor states that the max # of positions is 13. Yet, at the time of this review, the system is holding 15.
Second, C2 continues to report system performance with margin. In the case of Ruby, it's 100% margin. In the case of some futures systems it is way more. I believe the only rational way to report performance for apples to apples comparison is to show results with no margin and let the user decide on leverage"
Dr. Koch is correct - the system is only holding 13 positions. I was confused by the way C2 shows this.
