I guess I will be the first to rate this disaster. The current trade should have never been kept open over the weekend heading into the EU Summit. It probably would have been prudent to stop all trading late last week. Certainly as an investor I could and should have stopped the trade on my own. High win-rate forex systems always end in disaster. This may not be the end of Pipalert but I have lost confidence in the system.
Wanting well over 2:1 profit factor is not realistic during past months. Letting the last three open trades turn from over +$1,500 on the table profit into -$381, -$398 and -$9 in realized losses is not good trade management. With $150 pay-only-if-profitable subscription fee and about 26 current subscribers according to autotrade data, the vendor will be up with current trading strategy while subscribers will be fairly flat. For all the above mentioned, 2 stars. I hope to see the overall strategy improve here, and not make this system become a subscriber cash cow.
I have been manually trading Basket Futures for some time and so far this is one of the system I like the most in the Collective 2 universe (together with Pipalert). The developer is caring about the subscribers, has market vision (incredible market timing on some contracts, especially energy ) and tries to limit the risks. Probably the only limitation lies in the management of whipsaws market phases, but, sincerely, this is a constraint that virtually any sistem has. I am waiting for a bear market to see whether Basket Futures can handle it so profitably as bull phases but so far, so good (statistics speak for themselves). I am not giving full grades just because the system is young but I wish it future successes to award an upgrade.
Impossible trade because open the orders at market and i trade manually and i dont have time to make trade. I see this system only for autotrade, but i am interesting only in continue with my broker, because of this i unsuscribe it.
The developers of the system are disciplined and self-confident. The system will probably be alright in the long run, but does not appear to have a significant edge. It does well when the market does its "normal" oscillations, but is completely wrongfooted when the market tanks decisively. It adds insult to injury by trying to catch falling knives that no good discretionary trader would touch. This of course is a hard thing to avoid for any mechanical system. Buying deep in-the-money call options of a market index probably has better risk/reward characteristics, and is much much simpler.
What happened in summer 2010? The system started to be the perfect contra indicator. Is that just a random occurrence that nearly every signal is profitable if one just trades the opposite? For already over a year?
This is the strangest thing I saw in a long time. There cant be such a strong structural change in the markets to make nearly every signal of the system suddenly not working since summer 2010.
The last review was too harsh. The system might be at a crossroads though. PL has fallen to 1:3 and sharpe has fallen below 3. The system is essentially flat since April. Over the last several months the system has done a lot of churning with not much result. I just dont know....
I lasted about 7 days and that is all I could take. Every trade began as a negative trade and of those, I believe that one actually turned out to be a mildly profitable trade. He keeps positions over the weekend which in my opinion, is not a good idea, He trades on big news days or has positions outstanding on those days which in my opinion, is not a good idea. I would not use this system at all. I suppose for not so faint of heart, it is OK, but not for me.
2 trades a month, 1 buy then 1 sell. If the timing is NOT good you lose all you want. See the result for may-sept 2011. That mean if you traded the opposite these 4 months you won. Good luck for the good timing
I assumed that TOPAZ system is resilient enough to withstand the US financial crisis of 2008, it should withstand the current European crisis. Unfortunately, this does not seem to be the case during last 3 months. The system doubles down for losing positions and there is very little chance for a stock to recover in 12 days in this volatile market. So far, this system fails miserably in bearish and volatile market. The developer also raised his subscription price by 50 pct. recently and should consider lowering it due to very poor performance.
I have been a subscriber since July. The developer is a great communicator. All trades have profit targets and stop losses. The system stats are very good. He has worked to add cattle trades to the system which says he is continuing to try and add value to the system. I would recommend it.
Would be nice to be able to trust the system right now, but with 4 months of losses wiping out an entire year of gains, the drawbacks of 100% automation outweigh the positive for the near term. In these unprecedented market conditions, it is impossible to have reasonable hope that any gains are not going to be destroyed by the system tripling down on spiraling stocks that have simply no realistic chance of recovering within the automatic 10 day timeframe. Nor has any attempt been made to limit the number of buys: C2 automated margin calls on bad days can cause a lot of damage even for subs who judiciously manage their own position sizes. Rather than sitting here worrying about “missing†any gains, I think it’s time to shut it down and sit it out until (if/when) it stabilizes.
I dont think its fair to rate a system after trading it a couple of weeks. FXprofisiniper has very good system stats. I have been trading it for several months and I do not consider it a martingale system. In both instances of a winning or losing trade the developer will sell part of the position to either lock in gains or cut losses. I think the system is great. Hes 9/9 in winning months with a PL of 5.3:1 You cant trash a system like that in only a couple short weeks.
I agree with the latest review and disagree with the one before. I have been subscribing Mod Trader in the last month and I am (moderately!) satisified. At the end statistics of this system are still good, starting from average profit/average loss. At least this system is not trying to catch the wrong trade du jour like many other systems here at C2 (in the last month we saw too many of them going long Euro or Pound when it was evident they were on the brink of collapse). I am sticking with it because it gives balance to my accoount and I think performance will come back in more normal times.
Previous review is too harsh in my opinion. I agree on some missed opps, as some closing limit orders were a bit too optimistic during unsteady mkt. I subscribed from May to September with satisfactory results by using scaling and compounding. I am putting the system in the freezer for now due to flat/down performance, but many systems are having a hard time with europe and US turmoil. I am looking forward to re-subscribing after system starts hinting performance again. Mod trader for me remains one of the safest and well-balanced systems here at C2.
I sent following feedback to the vendor and he terminated my subscription: "I subscribed two months ago and I must say all I see is small gains and bigger losses. There were many opportunities in the market either fundamentally or technically but you missed all of them. All you do is to buy USDJPY which hasn't been moving for a long time. As a result, although you say this is professional account, I couldn't see any professionalism so far."
If you can"t stand to criticism, then don"t do this job. Equity curve since May tells you everything. Stay away.
Horrible strategy, the developer buy high sell low and when there is a large amount of profit he does not lock in the profit and let it turn into a big loser. Buying CF at all time highs after it ran up 300 percent since last July just tells you how terrible the strategy is. That CF trade was a complete disaster buying at the high then it dropped 10 percent.
It doesn't use stop losses at all, has been in the same losing GBPUSD and GBPJPY for over three weeks so far. It also keeps lowering its average entry price by adding lots to the losing positions (martingale). Personally I think is a way too risky to abuse of this strategy.
Trade this system only with money you can afford to lose.
I think this system has an upside, but it didn't work for me while auto trading. I lost 10 times the subscription with one good trade and one really bad trade, yet still it was a small percentage of my account. It seems the system might get back my losses, but I decided to move my money and apply it to another system on C2. The developer is very good a communicating current trade status, market conditions and possible trend. I don't doubt the system will be successful, plus the system is one of the better ones for options. I will be unsubscribing soon, but I wish the system the best.
Been autotrading this for 1 week. Since my account is small I use maxlots=2. Up exactly 2% net. The consistency I was looking for continues, even though I put my money on the line! Lookin' good.
I tried a 7-day subscription in the hope of gaining some insight into this system before committing real money to it. Unfortunately, in the 7 days I was subscribed I got nothing. No trades, no information, no notifications. I'm now unsure what the 7-day trial "subscription" was about. Is this a bug in the system? Another worrisome sign is that the designer of the system has several more systems most of which are showing huge losses. The short (~3 months) history of this system looks absolutely wonderful. The question, of course is: is it real or is it a Martingale system. I don't know the answer, but my personal conclusion after this small experiment is to stay away from any system with less than 1 year of history. The risk is just not worth it.
Yet one more Forex system bites the dust! Are there no viable and sustainable Forex systems at C2? All promising ones eventually suffer the same fate ... crawl up the stairs and jump off a cliff. Sad, very sad.
I was auto-trading this system since it had a respectful history, until lately in which I lost more money than I expected. I stopped trading right away and it has since then gotten worse. I hope the system comebacks from this recent downwards performance, but ultimately had to stop trading the system. All I can say is watch out and give the system some more time to show it can prove itself to be a good system for trading. The developer did keep us updated with information and outlook, but performance counts more than anything else. It didn't perform while I auto-traded the system.
