Too much slippage and delay for auto-trading, especially in a fast-moving market where scalps average around a point or so. I also notice a delay between the signal posting on C2 and it hitting my brokerage, which makes things even worse in a fast market. I've also noticed several occassions in which a very profitable trade ends up near zero or in the red, due to the vendor not locking in profits with a floating stop (especially true with his smaller quantity trades). Also, my actual fill prices are not reflected on C2 even when I use the "overlay" feature... rendering it mostly useless. This could be a very good system, with a few enhancements.
Recent Drawdown was alarming.
However in reviewing the lengthy trade hisory I have a lot of confidence in Si. If you are overleveraging your account you got stung, and if you think you are not going to have losses in something as complex and risky as the forex markets then I can recommend a nice 8% mutual fund.
KEEP UP THE GOOD WORK SI.
Your system will suceed. I have full faith and confidence in your abilites as a trader. Quit answering and looking at negative emails and focus on the trade! You WILL make us money.
dkitch.
Over the long haul, system consitently performs well. But, since there are no stops, I would prefer that the mini-lot positions be spread over 5 different pairs (i.e., 5 different pairs with 70 mini-lots per pair). Now, for example, 210 mini-lots (i.e., 60% of capital) are devoted to one pair and the drawdown is up to $65,000.
In summary, since there are no stops, more diversification is desired.
the autor admits that he changed the system; he should have warned subscribers! people rely on past results to judge if they want to participate. results now are terrible!
System has 6 great consecutive losses. Terrible. With risk of 5% in each trade, i losr more than 25% of my account. It seems, after making system free for autotrade, author made some corrections to systems, to generate more trades for higher broker fees. Will see on more month for it. B
To go against the markets his very risky. And this system does nothing else. I hope the system developer has a good indication for the opening of trades. Top pickers and bottom pickers become cotton pickers. Let`s hope the best!
Very nice system. The most important thing for me is that the realism factor is real! You could talk long time if you prefer a system base on returns, dd or sharpe ratio, but all of that if meaningless if you can´t match the signals with live trading.
I have been trading this system since January, and I can tell you the three amigos are outstanding! The Captains knowledge of the market, and his involvement with his subscriber base never fails to impress me.
Bottom line. this system works. Since subscribing, I have been trading e-mini NQ Future contracts, and have boasted far better returns than this website reflects.
If you are a new investor, be aware that no system is a substitute for proper money management! Do not invest what you cannot afford to lose, soak up all the knowledge you can, and you will learn new techniques for maximizing profits(if that's your goal).
I gave them 5 stars, because I have not had this level of confidence in any system for the past 8 years of my trading.
system looks interesting, but unsure of trading practicality when there can be a week to a month between trades. Gives impression this is more of a hobby that a serious pursuit. Would like to see at least 1 trade a week... Review by Ross
Solid, well diversivied strategy with excellent track rekord. I started buying in to it with confidence.
Excellent professional weekly report with graphs, current holdings, and reccommendation makes menaging your portfolio a snap.
Thanks Steve and keep up your good work.
Easy tradable with consistent returns. On several occassions I was days or even a week (!) too late with entering the signals, and I still got good fills. The logical other side of this is of course that you ought to have some patience before the big move happens. I trade this system manually with 5% scaling for the fourth month now. Even with this small trading capital I think the system is worth its fee. The statistics of the system are also good (Sharpe, APD, Avg Win / Avg Loss). The only thing that worries me a little is the historic max drawdown. But the equity curve shows that the system recovered well from drawdowns.
Is it a swing system? Maybe. Scalping system? Not sure and don't care. Makes money? YES. Subscribed & traded manually for 1 month then switched to auto last couple weeks (recommended). The numbers posted on C2 are indeed accurate. I recommend following the money trail posted and make your own decision - stoplosses and all.
The system claims to have an accuracy ot 78 %, the reality is 54%. In his rebuttal on 18/7 the provider remarks that you can't judge from a short period; however the actual C2 results are from a period of 8 month! maybe it will indeed be better after a longer period ,but the actual reality should still be seriously taken in consideration against backtesting.
To follow the last reviewer - I have been autotrading this system with reasonably accurate results (within a couple of pips) and with no significant problems. This system works very well for me.
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.
