I'm surprised there hasn't been any reviews of this system yet. I have followed it over 5 months and am impressed with the steady rise in equity and new highs. C2 history approaching 2 years. System has nicely rebounded to past drawdowns. Developer provides stable management in his use of stops and targets. Well worth trying.
So far the previous reviewer has been correct on the large draw down part which all subscribers are experiencing. I rated 2 stars to reflect the current performance and I'm sure other subscribers are anxiously waiting for the other part which is the great gain and will give it 5 stars rating when it arrives. Hanging in tight folks, better days are ahead of us, I hope.
The best thing about this system is the revenue it generates to the vendor. No C2 login since August, no word to subscribers. Lack of professionalism and discipline, incompatible to operate in an environment such as C2. Add bad trading to it and the result is 0 stars.
I've autotraded this system over the past month within my Interactive Brokers account using Trader68. My executions have matched what is shown on the web site, so I've made money so far without suffering any signifcant drawdowns. I like the fact that the return has been similar to the S&P but with less volatility (since it is usually only partially invested). If this performance keep up I'll be changing my rating to 5 stars.
As seen from the equity curve, this systems trading was impressive until about mid April 2012. Since then the volatility of this system has dramatically increased, win percentage has fallen quite a bit, and the system is not performing well. I think a switch to pay only if profitable would be an improvement.
After good initial start, the system is starting going down. Each loss is a lot bigger than each gain which means the direction of each trade is not very good.
This is a very promising young system. It has minimal market exposure, with a current average trade duration of just 5.1 hours, it has consistently low intratrade drawdowns, and it has an excellent sharp ratio. It's win rate is 80%--very respectable, but not unrealistic.
That says to me that, unlike a great many other FX systems here on C2 and elsewhere, Golden Phoenix is disciplined enough to bail out of a losing trade long before it threatens to becomes a wipe-out. Plus, the TOS certification show that the developer is confident enough in his system to trade it in his own account.
This is an opening range breakout system with Sunday evening providing the basis for the targets for the upcoming week. Based on my backtesting, this system does not have a significant edge. In my opinion, the positive equity curve has resulted as much from luck as from skill. In other words, I am bailing out.
The return has been negative since Feb'12 including costs/comm. 7 month is a long period without positive return. Although overall stats still look good, especially return vs. max drawdown, recent results show the strategy has lost its edge. It deserves no more than 2 stars due to the recent poor performance.
Needs to step up really in the following weeks. Running into its biggest drawdown in 15 months. Needs to prove that this is just a normal drawdown instead of being an outdated trading system.
I have to admit, this developer has really impressed me despite the short track record. He has made enough trades in my opinion to draw conclusions from the sample. I also like his risk adverse style. Keep up the great work!
One down month after more than a year and the crowd starts throwing rotten fruit. This system is mechanical, so sometimes it will lose by ignoring the news buzz, but mostly it wins by doing so. If August is like July, I'll reconsider, but for now, look as his equity curve and cut the guy some slack.
Last review is too harsh, subscriber may have signed up 2-4 weeks ago. But the system is definitely out of touch with the market, as it is buying at highs and selling at lows at well defined supp/res levels. One has to admit that all good systems become obsolete at some point, this may be the time now for SuperrPips. I give it 5 stars for having been one of best systems of all times here at C2. Happy subscriber for several months, I may be signing off soon after a good long ride.
Steady, no nonsense trading system. Consistently putting up positive months with limited draw down. This is a trading system you can feel comfortable using on larger accounts.
Especially good results lately. Low fees. It is not a martingale system despite some light averaging into positions. Risk appears to be managed well given its relatively low drawdown with over 1.5 years on C2. Developer is very responsive. One of the few forex systems that makes the cut with a reasonable age, Sortino, drawdown, and profit factor filter.
The current big drawdown is the latest of a string of bad trades that the sp holds on to in the hope that they will recover. Each time it happens the subscriber is left wondering whether this is the one that will wipe his account out - this is gambling not trading
