Timing is a lot of what makes a system work. This system does not have it. Just quoting the stats compound annual is 5% after 207 days. DD at 17%. I believe to regain credibility it needs a short system, too. You can't just go long every single time. Sure there are long only systems and managers out there, but it takes both sides to trade. Realism is poor, and I believe even with an automated account that this isn't possible to trade. I've been very patient these last few months watching the system's trades, and it's been so long since I even remember one I'd consider remotely profitable. I think this system needs to be re-written. Performance statistics are very telling right now about its long term potential. Consistency is not here.
Good trades, but then saw a big drawdown, that will clean many small accounts, he recovered, then later big drawdowns came again, and trades with Extreme risk, and with big losses, you are at risk 30K to 50K USD by averaging the trades and hope, that the trades will get with profit or breakeven, traders know, that average down is risky, but there's a time when you must see, that those trades will not get better and must get out.
Your account must be big to support this, i will not trade it anymore, the author seems nice and gives personal messages to everyone time to time, but i will not give 5 stars because of drawdowns and several contracts holding overnight, which if it's not possible to you to maintain, will make the diference on your final balance to less money than it shows here.
I have subscribed for a month, because i saw the growing curve on the chart was great, and in the first days i done some nice trades, but then i saw that this system is based in dozens and dozens of orders and cancell orders every day in any time of the day, i doubt that is possible to trade this system without auto-trading, because the author sends buy and sell orders very quick, sometimes in seconds and sometimes orders to fill at the market, which is impossible to follow the same quote as him, and so the growing curve is never equal to ours, manually is impossible, i don't know if using auto-trading the growing curve will be similar to him, but manually, just forget it, you always get slippage. Best regards.
The present 40+% drawdown demonstrates the vendor’s recklessness and disregard for his subscribers. The vendor may argue that subscribers should not worry because the open position could eventually recover and end up in a mild loss or even a gain. But, that an irresponsible response because most subscribers would have already received margin calls and thus positions liquidated automatically with no chance of participating in the recovery from drawdown. Anyone who is thinking about a forex system on C2 should carefully consider this: do not put your money at risk until you see a long track-record that evidences responsible/religious use of stops. In summary, the vendor is an apathetic scoundrel.
I stand corrected in my previous review:
"While the system has performed well since I started the subscription in August 2007, I have two minor problems. One with the vendor, and one with C2. First, the vendor states that the max # of positions is 13. Yet, at the time of this review, the system is holding 15.
Second, C2 continues to report system performance with margin. In the case of Ruby, it's 100% margin. In the case of some futures systems it is way more. I believe the only rational way to report performance for apples to apples comparison is to show results with no margin and let the user decide on leverage"
Dr. Koch is correct - the system is only holding 13 positions. I was confused by the way C2 shows this.
System fails when multiple orders fill. My example is the 11/12/2007 trade of APPL, which is either conveniently or inaccurately left out of the executions page and considered an unfilled, expired trade. In reality, APPL filled before at the signal price around 9:30:50 AM, well before any other trade.
While this trade has left subscribers with a big loss in their trading accounts, it has somhow been wiped off the developer's record. Until the developer can clear up issues like this, users must consider the reported results as a fantasy - not truly reflective of what occurs in a real-world account.
Happy with the system, started trading live when the system started its drawdown but kept with it and now in profit. I decided to trade this system as i have heard good feedback about the developer.
I think the system is probably one of the very best systems on C2. The only complaint i have is that if you are not a full time trader only trade this via BulldogFX where C2 and your account synchronize, otherwise you might find yourself on the wrong side of the market. I have the system autotraded via InteractiveBrokers and at times have had to make manual adjustments to keep the systme in line.
All in all, if you want a good system this is for you but make sure you have it autotraded and depending on your situation perhaps use BulldogFX.
Charlie
I find it hard to comprehend the almost criminal irresponsibility of this vendor. If only it were possible, he should be bannished from C2. Disgusting!
I strongly recommend to stay far away from that system. This trader didn't learn nothing from his large september drawdown. When I came to the office this morning I realized that he averaged his looooooosing position 3 times and the trend is still running against it. I will took the losses and lick my wounds now. May be he is the lucky guy when the market turns in the next minutes, but on the other hand he will blow up all his capital if the trend continues ...
Great system. I've lost thousands following other systems - Sniper 4X, AT Forex, anyone? - only to see psychologically weak traders blow all their (and my profits and CAPITAL chasing losses - dumb, dumb, dumb).Keep up the great work guys. Please don't change.
This is a swing trading system that buys oversold stocks, and closes open positions with 2.5% target. However, it typically buys those stocks already on a downward trend. Thus by design, the system works well in a bull market (when 2.5% upward swing is natural), but it may lose a large bundle in a distressed situation. Drawdown will be too large. I suggest Dr. Koch to add in stop loss, or other filters to handle this kind of situation? I will rank the system 5 star if it can be demonstrated to preforme as well in a bear market. Overall, I shall say that Dr. Koch has done a good job, and this system is relatively easy to follow. However, use with care.
The system provider breaking his own rules. "While trades will be filled during the day it is possible to trade it with a one time effort per day" not true. Some positions are cancelled after execution. Statistic in C2 does not correspond to actual portfolio status and results. C2 record shows 14 positions, but system should be limited to 13 according system FAQ..
Very impressed with this system so far. Volatile market conditions may have helped but nevertheless as a relatively inexperienced trader it has performed well. I'm using it with an IG spread betting account, meaning I've had to allocate a fair bit of capital for all the orders to open - but when a system performs like this that isn't a problem. Can thoroughly recommend it.
Way too few trades to judge. The current profits are as easily attributable to riding the direction of the dollar, so cannot judge if this thing works or not. It might take a year to determine this...
System performing well at the moment. It was disconcerting when the large drawdown occured. A stop loss would have shown better money management, so only 3 stars at the moment.
I started autotrading Slow and Steady with a demo account at OpenECry and liked the consistent and reliable style of the trader. I am now autotrading this system and seeing decent returns (still with OEC). There are occasional drawdowns but the recovery of these is excellent and communication back to subscribers is solid. I feel there is a good approach to risk management in place and the incremental gains are certainly rewarding the trust in this trader. I am hoping that he can continue to deliver this well for the next year.
TMG are very good at posting false information about their back testing and then increasing their sub fees. Well done keep it up. Feed people some more rubbish and when you get couple of weeks of lucky results just double your subs.
I joined just as the profit run ended. The trades are generally profitable, but to me it is clear that they are based on a system that does not feature intimate knowledge of the markets, perhaps it is 99% technicals? I say this because often the entries match the selections that a beginner trader might make based on logic and a "gut" feeling rather than true market knowledge/experience. While I have respect for the (initial, anyways) success of the system, I have ceased trading it and am unsubscribed. I wish the author the best of luck - but the system does not suit my tastes right now.
It was a misake for me to start autotrading this system when it had a large profit in its existing position. Instead of "scalping" the system sat on a single position for 4 trading days let +$700 and - $700 swings go by until I ended up with significant loss. I wish C2 had a system whereby when an account starts Auto Trading new money could only be entered into NEW trade signals.
Despite all the excuses coming from the developers the reality is that this system has not made a penny in about 10 months. The scary part is that looking at the results of backtesting this seems almost impossible to happen. So it is my opinion that the results achieved during backtesting are the result of pure datamining.
I have been autotrading 10K for a week and lost about $700 plus $500 sub. I suppose you need at least half a mill for this system to make money. With only 10k - oscillation seems to kill any profit, combine that with commissions, and you get badly burnt. For the masses (me) only 2, for the wealthy, a 4 star rating. To give the developers credit, it does appear to be a clever system, with an impressively smooth equity curve. I only wish it took account of traders like me who can't afford to risk six figure sums.
I had pretty much given up on C2 since I had subscribed to a few systems that had nice curves and history, only to be wiped out soon after. Many systems do not provide the proper allocation scaling for trading via C2 (A science unto itself). However, I thought I would try this since it seemed the vendor was active in the forums. The vendor is not only an excellent trader, but he emails subscribers if he is going to hold a position overnight; a valuable trait if your broker's margin is a bit steep. He also emails you to update his thoughts on a current trade. He has recently scaled the system so you can allocate your trades in 10% increments as explained very thoroughly on this intro page. So, I recommend this system. It's profitable and provided by a gentleman with integrity.
