Forex Trading System...

We trade in Chicago.

tenchu,

How did I exaggerate results??? Tell me!!!

Marketing a system that returns 100% in 5 weeks is ludicrous, unless you are counting new recruits, etc in those returns. Even if you had a great 5 weeks, to assume those returns would repeat (and that you could therefore market them) is ludicrous and dangerous (considering the amount of risk one would have to take to have the remote possibility to return 100% on an even semi-regular basis).

kbhat,

This is exactly what I posted before...

"it's a Forex Trading System. I was on a conference call last night. Alot of the traders using the system made over 100% in the last five weeks or so. They usually get 7-10% a month, but the last little while there was a big jump... I'm starting to use FreedromRocks right now..."

Did I say anywhere above that you are going to get 100% every five weeks? No, I didn't. I stated that people using the system have been getting 7-10% a month, but the system gave them over 100% in the last five weeks or so (at that time). I would like to see 100% in five weeks happen again, but unlikely. Aside from that big jump they have been getting 7-10% a month which is pretty good...

God, I can't believe I'm wasting my time responding to you again, you stupid turd.

Yeah, you're right, brother. That crappy system they're selling while using the same lead guitarist that jammed on the Saved by the Bell intro is going to make everybody 7% per month. That shit there is just the definition of responsible marketing: you not disclosing your compensation arrangement, the "ticket to financial freedom", and pictures of all those glorious boats and cars you'll get to buy...woo hoo!

Stochastics?! Ooooooo, I'm sportin' wood now!

Do us a favor, buddy, since you're so sincere and stats on the system? What inefficiency does it seek to exploit? What is the system's profit factor? What's the average winning and losing trade, broken down by longs and shorts? What is the maximum drawdown? How much data was used to backtest it? What was the forward testing results?

Sorry, I'd like to be classier, but Gordon's better at that.

FREE MONEY!!!!!!!!!!!!!!!

(By the way, kbhat, you and Mo are too kind.)

Wait, there's a boat? I want the boat!

This thread reminds me why Forex needs to be better regulated. Between MLM programs and infomercials, it attracts a lot of people who clearly should not be trading forex. Too many people think there is an easy way to long-term successful investing when in reality it takes lots of knowledge and experience.

I have worked with three well recognized traders in the Forex area (Robert Balan, Ian Copsey and Mikkel Thorrup). These guys do it for a living and have written books on technical analysis as it applies to currency. Mikkel owns Capricorn Asset Management which trades currency and has about $50 million under management. NONE of these guys are consistently producing 30% annual returns. Do you really believe that someone who knows nothing can use a magical black box system that would run circles around these guys.

I few years ago I did some data mining looking for money managers (including mutual funds) who (1) had earned over 10% for 5 consecutive years and (2) had less than a 10% maximum drawdown. Out of a database of over 30,000 money managers not one person made the cut. I guess the bottom line is that investing just isn't as easy as these Forex marketing people are promoting these days.

JBraswell, Momentum, thanks for your insights and reality check.

mwmhong - Data mining relies on the benefits of hindsight.It means you have adapted your system to the market conditions of the past and, as you know, the market will never exactly repeat itself.As a result, even if it can be shown that a system would have been great in the past, it will not necessarily be worthwhile or profitable in the future.- Nick Radge

Thanks FCM

FCM: I think you are describing curve fitting. I think data mining would be just searching banks of data trying to find a pattern. Of course, a pattern inevitably emerge if from nothing other than randomness.

Made 1.5% this week, not a lot, but not bad.
14 people added to my downline during the same time.

You guys can ba "haters" all you want... To each his own!

One good way to convince others to "add to your downline" would be to post your account statements each week or month. Naturally, you can crop out any private information that would be a security risk to you.

After all, if you really believe in your system, and you get paid for every person who signs up, what have you to lose?

Jbraswell,

Good point.

Why release it to a bunch of haters?

As the old adage goes, documentations beats conversation. If someone can't document their results, I am always left questioning whether they are real, especially if they are so far outside of what is historically possible. I am not say they are made up, I am simply saying I don't believe anything without documentation. My days of blind trust and following sales pitches are behind me.

For what it is worth, I don't believe an MLM/Forex trading company has any chance of long-term success. The entire concept doesn't fit MLM. I have followed various forex traders for the last few years and that is a tough game. You are competing against so extremely sharp people with tons of contacts and lots of resources. In other words, the deck is stacked against you.

The Pacifist, I applaud you efforts. I just think you are headed down a path that has a very low chance of long-term success. I am not a hater, just a realistic trying to share many, many years of experience with you.

Momentum,

Like I said I always appreciate your posts. I think you are a level headed guy.

If you are interested I would be happy to foward you a copy of trading.

Will this company be around for a long time? I believe so, but is there any guarantees? Of course not... it's just like every other company out there that can close up shop...

The Pacifist

Forward me the name of the company and results. I will certainly share my honest thoughts with you. My email is gordonhester@yahoo.com.

Momentum, it would be interesting to hear your impressions of the company.