Six consecutive loses of over -30 pips each and well on its way to losing number 7. All in in the last two days and all trading the EUR/JPY pair. Combine this with the same pair losing 4 consecutive trades just a couple of weeks ago tells me this system needs an overhaul.
Seemed like he was doing good at 1st till he changed everything at once. My suggestion is go back to just trading er2, provide a low fee for users who want to trade with him, and start a 2nd system in test mode to trade other futures. Thankfully, I canceled my sub before the drawdown.
I think the target in FX is making money - and that this system achieves almost in perfection. If this ws stock market I would think the trades were originated from inside info. I´m following this system in demo account for +2 months and started live trading it a few days ago.I must say that I´m very impressed and this is not only helpful to gain some money, but it´s also the living proof that FX can be the only source of money for you, so it´s a major inspiration to keep trying to learn TA and Fundamental A. Big thanks to Si Nguyen, and I hope you never leave us (at least until I can be half as ood as you are).
After two years as a subscriber, I am finally throwing in the towel on this system. Down 10% this year on real fills (as opposed to C2 fantasy fills). Had a decent January, but since then, even in this bull market, the system has stopped working.
I wonder if there is anymore active trading in the last few months (ie June + July 2007).
He is probably justing waiting until the huge losses turning into profit.
Unbelievable: from US$ 100,000 up to US$ 1,4 Mio and then down to ~ US$ 400,000 again.
Completely crazy trading style!
Vendor seems to have a excellent knack for picking stocks prior to a substantial advance.
The 6.1% drawdown is very well contained given 63.8% annual return. Steve has well exceeded his 40% goal and the $0 subscription cost is a steal.
The diversification has thus far handled corrections very well for the types of gains returned.
I would suggest letting the BIG winners run longer. You can already tell that Steve is the real deal.
If you are paying $9.99 per trade, $19.98 per round trip times 73 trades as of 07/03/07 that would equal $1,458. Some brokers I realize are less. Membership of $120 per month for 7 months is equal to $840. That’s a total cost of $2,298 for the first 7 month period of the system. Assuming your starting account balance was $10,000 you would have to have a return of 22.98% to break even over the first 7 month period. The Collective2 return shows 27.99% as of 07/06/07. You would have to trade an account of much more than $10,000 to stand a chance of making substantial money. In all fairness if the system produced what the developed claims in back testing that would be a different story. I hope it does as the developers seem like sincere people.
I like this system. As a prop trader I use a set of strategies and Braden's system lets me augment them by getting trading the index against my long/short basket of stocks. Generally, I see eye to eye with this system as far as overall, macro direction is concerned, but Braden's calls give me the actual, specific reason to enter the index. Meaning, if I want to be generally long I'll wait for Braden to get me in and it works out great. Having said this, I am curious what could be done about the size of the occasional losers - even though I do very much understand the necessity for the wider stops.
Have been trading this system via ITM for 2 months (since 5/8/07) and it is a good one. Needs high win percentage with losers about 2.75 * winners, but it has that so far at near 80% winners. July 6 reviewer is in error ... there has not been a 7 day period without a trade signal, at least in the past 2 months. Closest was 6 days (6/29/07 afternoon signal to 7/5/07 noon signal). Good, solid system so far with market order entries, profit and stop loss orders given with each entry, and all entry orders during normal market hours. I am setting up account at Open E Cry to try the server-based Gen 2 autotrading for this system.
You could save yourself much time and money by flipping a coin on the prospects of the S&P, and then combine that “strategy” with some good money management. Unfortunately, the “Rocket Science-Mini S&P” is not nearly so scientific or rigorous. If the market goes against a trade, the system publisher just buries his head until the market (hopefully) returns. As of this date, one single bad trade (bought at the top of the market) has been open for weeks as the market gradually comes back from a free fall. There are no stops (and obviously no brain at the switch), so it is completely open to catastrophic losses (and I'm not the only one to think the market is on a cliffs edge). So... No, it really isn’t that good.
An excellent trading system, with a precise approach to position size and risk management. The system trades diverse non-corelated or negatively co-related instruments which helps avoid large drawdowns and has provided a smooth equity curve.
Slow and steady, wins the race.
Keep up the good work !!
Odds of a winning trade with this system are little better than flipping a coin. 55% Its not really doing what the provider claims at all "with a Long trade-to-trade win % of 83.3%, a Short trade-to-trade win % of 77.4%" that suggests doubtful backtesting.
What is going on?
BTO 6,000 NTY
42.26 6/19/07 10:19
0 40.48 (09:32t)
($126,779)
He only had 700K and
he LOST ($10,680) so far?
BTO 10,000 FLML
23.33 6/19/07 15:10
0 0.00 (17:14t)
($116,649)
And of that original 700K,
he also lost ($233,300)?
BTO 5,000 CHKE
40.81 6/20/07 13:16
0 0.00 (16:13t)
($102,025)
And likewise Collective2 says
he lost another ($204,050)?
This much is real--I had $25000 last
week, middle, when I turned
autotrading and now I am down 6% already.
I have shutdown autotrading in emergency
until Collective2's computers and Extreme_os
get back up and working like it used to.
This system has shown the improvements since my earlier review. The 25% DD on 6/8 appears to be a C2 problem, not of the developer. However, it is still a very real concern for any autotrader of the system. So I am upgrading my rating from 1 star. My earlier review appears below:
"If this is meant to showcase the developers ability to manage a futures fund improvement is needed. Performance will need to improve sufficiently to not only be consistently profitable, but to be more than enough to offset the very considerable cost of commissions. As of this writing, just one week after trading the account there is already $12,000+ in commission costs alone! If performance can come close to matching the developer's other system than this will be a very good system, but not for now."
I have not been able to place the last several shorts. I'm with Scottrade but they say they can't get it outside either. Anybody has a broker with deeper reserves?
I can't argue against the results or smooth equity curve. What did bother me as a subscriber was that trades are entered with fixed stop-loss and take-profit points - however these were rarely allowed to play out. So, a system that looks sound and controlled seems to readily morph into a scalping system which is certainly not what I was interested in.
This system has performed well , its has a good win/loss and it has a reasonable ave win/ave loss profit ratio. One concern, the stoploss level could be a little excessive. I think if your taking poisitions based on fndamentals and also techs you need to have more specific targets rather than just 100-200 point stops and 200-300 profits. I say this is because i note that none of the trades have really ever run their distance, therefore the risk/reward ratio could at times be under quite a bit of pressure. If this was tweaked it would perform very well over the longer term because i like the dual analysis. Stick with this system and give it some time to mature. Well done Si !
I do not care so much about the past week's losses or drawdowns, as a truly good system must be consistently successful in the long term. So far in its still short history VN Forex Club fits that bill. The win % is good and the win/loss factor also. What I like best about the system is that every trade is entered with a stop and take profit target. Most trades actually get subsequently closed before hitting either of those levels, but with the pre-defined stop levels I know exactly for each trade what the maximum loss will be (typically around 200 pips). I also like that the system vendor often uses spikes to enter trades or take profits.
It seems that everyone ranks this system as 5 star so far. I'd like to voice some concerns about it. True, we had some nice rides for the last month, that is why everybody likes it. But every system has its ups and downs. We are having some serious downs right now and I hope people can have more balanced view on it.
I believe for a system that is free it is performing fairly well, small looses compare to win. I have been with this system for a month now. Looking forward to see its developing potential.
