The couple of 2-star reviews came from people who are manually trading this system. I don't think this system can be traded manually unless you are glued to the ITM window and have the possible trades lined up with your online broker (I did this for a couple of days). Autotrading is the way to go. I've only traded this system for a couple of weeks, but made very good money the first week and about broke even the second week. I believe the system uses internal stops, because it never draws down more than $1K per contract. I would prefer broker stops in case C2 goes down, but I can live with it.
Style is very good and obviously automated. 1 star missing due to length of track record, and what I think are likely issues revolving around the vendor's signal platform having hiccups with the C2 interface.
The name of this system is wrong and deceptive. It should be "Turn $1300 to $300 In One Week." That"s what happened to my money from 10/31/08 to 11/6/08.
The creator of this system does not answer emails (at least not mine). I wrote to him, but no answer.
The calls come in such a rapid succession that I was not able to follow them.
Another "hold and hope" losing system. Zero discipline, builds confidence after a string of very short and very small gains, and then gambles it all away on "hold and hope" when it goes against him. Adjusts the system description to match the outcome, as if it were designed to do this all along. Caveat Emptor!
After losing me $5,038 in one trade, this guy got scared and hasn't traded since 10/06/08. While his system looked promising at first, the acid test is how a system handles losing trades. That is what separates the men from the boys. In that respect, this system fails.
Revised review after the crash... Story book performance destroyed by the market turmoil the past couple of months. Stop-loss order was a disaster. Discretionary trades after the stop-loss were just as bad, maybe worse. Nonetheless, I expect this system to resume profitability soon. Just proceed with caution (hedging via married puts, trailing stop losses, limited capital investment amount etc.)
I took a look at this system briefly back in the Spring of this year when it was first being introduced to C2 only a few months old. As its equity curve, track record, and overall stats indicate, I believe EXLENCE continues to be one of the shining stars available here at C2. Due to the large number of underlying in its basket, it however might be somewhat more challenging to implement for smaller account sizes (ie. less than $100k capital).
-- Aspire Trader
System vendor is honest,hard working and communicates well. Sadly, my fear that no mechanical system works forever is backed up here. After recent turmoil, the system has been tweaked and may be worth monitoring for an upturn in fortunes.
I like these guys, they answer with courtesy to questions on the mailing lists, they explain the moves (whenever possible), they have a long record of happy subscribers and the pace of trading is sustainable. I am not an expert by any mean but i dont think one can ask for much more from a system and a system vendor.
I don't know what got into him today - very uncharacteristic. Luckily I was managing my positions and kept the loss to about $7K, about half what it otherwise would have been. Until I get a good explanation of what happened and how it can be avoided in the future I naturally will have to stop using this system.
I can't bear to stay with this system any longer. Unfortunately with your Win% at 63.7% and your risk of loss at 10 points for every 2 he want's to make it's a disaster waiting to happen. I just found that out today. After 2 months of steady going I lost $14K in one day today before i pulled the plug mid trade.
That's the downside to 2:10 win:loss with 62% being correct. Fortunately I probably still made money in the 2 months I followed but I see the risk now and cutting my losses and quiting now. Wish I quit yesterday though. Good luck to anyone else who sticks around with 62% accuracy and 2:10 win/loss ratio. Should have seen it coming with super volatile markets we are in and Vix at 60+.
Is this system still being supported? On an unrelated note, I noticed an eerie situation. The very successful STANDARD stock trading system also stopped trading on 9/11/08.
Would have been 5 stars bf last 2 trades. Actually got out of the big losing trade at a nice profit bc I was at my computer or there should of at least been a tighter stop. These leveraged etfs can't be traded in volatile mkts unless the vendor is sitting at his terminal instead of out somewhere else. In trending markets he'll do fine, the current environment this system will hurt you. Stephen your initial signals are right on but r u out during the day?
I've been following this system for a long time, and Mr Haines in fact treats SMA as if some of his family's money were in it. He is careful to avoid big drawdowns, investing in a conservative manner. Still, returns are pretty decent for the low risk. I would recommend this system for my own family w/o reserve.
System seems to work only on clear strong trending days. On choppy days it will go long and get stopped out and then it goes short and get stopped out and again and again. I am a subscriber since June, made money until August and lose it all.
Do not trade this with 10k you risk loosing your account in 3 days. Recently the system has been performing badly but maybe it will pass or its due to the extreme market conditions. I think i will give it a try again once these contitions stabilize and the equity curve begins clearly going up again. The trader is a nice person.
Yes sept 19th was terrible. But you can't base your judgement of the system on one event. It's gotta great track record and I plan on trading it's next signal.
About a week ago, when there were signs of huge volatile days ahead, I got out of all my ETF based auto traded systems and switched to equivalent futures contract, entering them manually, while still following the system but with the peace of mind of having my discretionary stops in place day and night. That got me safely out with a nice profit (for this system I substituted ES for EMD because EMD has poor liquidity). That begs the question: Why is any system developer still using ETFs when they can use futures instead? By the way, I still like the basic signals of mvp-3.
