• Australian (ASX) Stock Market Forum

Your Trading Room

Discussion in 'Forex' started by nielsend, Oct 21, 2010.

  1. nielsend

    nielsend Dash

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  2. Broadway

    Broadway Well-Known Member

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    Well their 'trading strategies' seem to concentrate on basic indicators like macd and cci.:eek: I wouldnt give money for indicators, ever. :banghead:
    Markets move because of news, sentiment and volume, not indicators.
     
  3. Boggo

    Boggo Well-Known Member

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    Yep, I agree up to a point, can be a case of which came first, the chicken or the egg.
    Used in conjunction with other items/patterns/action indicators can be very valuable.

    Have you ever plotted a 50 period CCI and a 34 period EMA on a chart and noted what often happens when the CCI crosses its zero line around the same time that the closing price first closes above (or below for short) the 34 period EMA.
    Now ignore the indicators and look at the price pattern/action and volume when it happens, often interesting.

    Two stocks that come to mind are IAU and OZL but place it on any time period forex chart for a look.

    Just my :2twocents
     
  4. Ruby

    Ruby Well-Known Member

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    Yes, I have had a couple of free trials of Your Trading Room. It was a while ago, so things may have changed.

    At that time they used an enormous number of indicators and strategies, and seemed to ignore price action in favour of what the indicator was saying. This is a trap that many novice traders fall into - if you put enough indicators on your chart you will find one that tells you what it is you want to see!!! One of the moderators at the time I was visiting, actually took a short trade based on what an indicator was saying, when it contradicted the price action.

    They also falsified their results. If for example, a position was in profit by 30 pips, they might close half the postion and then take a further 20 pips on the remaining half. They then claimed a "profit" of 50 pips on the whole position. When I queried this little bit of creative accounting, all communicaton was severed.

    Having a free trial is probably the best way for you to make up your mind. It is also a good idea before giving them any money to ask for at least six months worth of trading results which can be verified.
     
  5. sichy

    sichy Member

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    So has anyone recently subscribed to these guys? I just can't see the incentive they have to sell their product if it can make as much money as they say... Seems like you get your investment back after a few months... so my question is why don't they just trade their capital and keep all the money?
     
  6. tech/a

    tech/a No Ordinary Duck!

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    Because they trade your money---its cheaper.
     
  7. FxTrader

    FxTrader Well-Known Member

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    Unlike other pump and dump education shops, YTR provides access to backtested strategies, swing trade calls and a trading room staffed by professional traders trading live accounts for a living and telling you exactly how they trade and what strategies they use (they are always helpful and assist you with answers to questions). In addition, there are many successful full time traders in the rooms who are happy share their knowledge and experiences. They have demostrated themselves to be a very professional organization with a great team since I joined.

    The pip count history in the live rooms is no fabrication or deception, many traders do not scale out of a trade on hitting the first profit target just because the mod may do so. In any case a pip gain is a pip gain regardless of how many lots are committed to the trade at any one time.

    I am in the GPT (Prop trader) program at YTR, I trade full time and would prefer to trade the firm's capital rather than my own. Prop traders have access to institutional spreads via the TotallyFX wholesale brokerage facility.

    While I am happy to answer genuine, resonable questions about YTR, I have no time or the patience to deal with ignorace, speculation or stupidity as evidenced in some of the replies so far.
     
  8. TulipFX

    TulipFX Well-Known Member

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    Not true at all. I have a system which loses about 2000+ pips a month and makes a nice return.
     
  9. FxTrader

    FxTrader Well-Known Member

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    Why not ask a question instead of quoting me out of context to make a useless and obvious point. Everyone has losing trades trading forex regardless of the "system" they are using or its profitability don't they Tulip. My point was in response to the assertion that somehow YTR mods where engaging in deception because they scale out of trade calls but still report the total pip gain of the trade. Instead of making silly statements, why not consider the whole context of the response and ask for clarification since you clearly misinterpreted my response.
     
  10. TulipFX

    TulipFX Well-Known Member

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    Pips gains are nothing. They are barely worth measuring. It is percentage risked and percentage gained which are the important factors.

    Scaling out and measuring the whole thing as pips gained is exactly why the point above is valid. As an example of why pip gain is such a useless measurement I gave an example of a system which loses pips hand over foot but turns a good return.

    Nothing out of context at all. The method is shonky. They really have two positions, and should count it as such, which includes doubling the amount of pips risked. Even better just switch to percentages. Much less confusing.
     
  11. FxTrader

    FxTrader Well-Known Member

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    Patently obvious info to any Forex trader and hardly worth mentioning accept to a newbie.

    Agreeing with ignorance does not do justice to your obvious points here. Each trader determines what they are going to risk on a trade, not the mod. The mod calls the trade, if pip total is positive then the individual traders trading plan and strategy determines how they traded the position. Reporting the mods actual profit on a trade is of little value to other traders. They don't divulge their personal profits nor should they.

    Pips are counted as plus or minus for a trade, how you trade a call is up to you. This method is not shonky, just your reasoning for calling it so. The rule of thumb used by many traders is to risk 1% of trading capital on any one trade. Many professional traders scale out of trades, some YTR mods do some don't but all have profit targets and exit signals.

    Like I said from the outset, I am happy to answer genuine questions about YTR, but will not tolerate ignorant and petty potshots, carping and sniping from an ill informed gallery here. If this continues, my participation will end quickly. I have shared a bit about my experiences with YTR so far, but I prefer to participate in other forex forums where people are looking for help and information, not just a chance to inflate their ego and profile here.
     
  12. Ruby

    Ruby Well-Known Member

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    FxTrader, I assume you are referring to my claim that YTR falsify their results. I stand by that claim, which was made not through ignorance, but through direct observation.

    A pip gain may be a pip gain, but not all pip gains have the same value. The results claimed by YTR are based on 1 lot; that is, all pips have equal value for the purpose of their published results. If you close half a position after making a profit of, say, 20 pips, and then let the rest run to make a further 50 pips, you cannot claim a profit of 70 pips for the whole position. It is a profit of 20 pips for half the position and 70 pips for the other half. This is where the deception occurred. YTR claimed the pip gain for the full position - not just once, but many times during the periods of my free trials.

    I monitored the trades very carefully and compared them with the trading results that were published each day, and I can say with absolute certainty that the two did not always match, and the errors were always the same - they gave all pips equal value. Of course this happened some time ago, and things may have changed since then.

    Their moderators say they trade live accounts for a living, and that they trade their own accounts while moderating the room, but do you have any proof of this? I doubt it.

    YTR obviously suits you, and I hope you are making lots of money with their numerous strategies and dozens of indicators........... why not give us some details of how well you are doing in your trading with them?
     
  13. FxTrader

    FxTrader Well-Known Member

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    Yes that's your claim, your "observations" are biased and ill informed judgement, that's my claim.

    In your example, of course you can claim a 70 pip profit, what you can't assume is what percentage profit any one trader made on the position. Not all YTR mods scale out, in fact most trades are exited only after hitting a profit target and then logged.

    As for results, the trade calls are +521 pips so far this month and +8085 year to date. You choose how you want to quantify that is dollar or percentage terms based on how you trade forex.

    I have no intention of responding to your slander or insinuations here troll.
     
  14. TulipFX

    TulipFX Well-Known Member

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    I would count the profit as 70 pips in your example. The risk would be the stoploss for each position. Say it was a 50 pip stop loss - then that would be 100 pips risked.

    A good free room with an experienced trading commenting on his trades is : http://compassfx.com/forexsignals/

    His account is shown live, and is about $20mil, so he's not some two bob operator. Free room as well, so WYSIWYG. When I am not busy I enjoy watching him analyse positions and see his logic. Most interesting is he does not use many (if any) indicators, most of his trades are done using chart reading with support and resistance. He has 20 years trading experience and his trading methods show that.
     
  15. Ruby

    Ruby Well-Known Member

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    Rudeness and arrogance are always the refuge of ignorance, and you are an extremely rude person!

    You clearly don't know the meaning of the word "slander" - look it up in a dictionary! I made no insinuations, and you have responded to me!

    I have no axe to grind - I wouldn't waste my money with YTR. I know more about them than I have revealed here. As you are reluctant to show us your trading results and prove how good they are, I can only assume you are losing money.
     
  16. FxTrader

    FxTrader Well-Known Member

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    Ok: Slander - malicious, false, and defamatory statement or report: a slander against his good name.

    You have accused YTR of falsifying results without evidence and insinuated that the mods don't trade their own accounts. From my experience your statements are false and intentionally defamatory. Hence, you deserve no respect and I give you none.

    Just a bit of cow excrement you're pushing out there.

    My results are none of your business troll.
     
  17. Ruby

    Ruby Well-Known Member

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    Ho Hum! Yawn............
     
  18. Ruby

    Ruby Well-Known Member

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    The above (my bolds and italics) aroused my curiosity, so I did a bit of digging around to find out more.

    LOL.......What a hoot! I think they may have taken "scam" to a new level!! The Global Prop Trader Programme is one where you trade with YTR's money for 12 months.......... all free!! You have no risk, and you get to keep 95% of the profits + a lot of other benefits.... Yes, that's right - all upside and no downside..... and before long you'll be making about $11,000 a week. No kidding!

    Whoops!............. almost forgot to mention........ it costs $20,000!!!! (And you're trading with their money?)

    Check it out for yourself

    http://forexforums.com/forums/unspo...72-trade-up-1-million-dollars-ytrs-money.html

    http://www.youtube.com/watch?v=LlE5W-3L3Mc
     
  19. bullbear39

    bullbear39 Member

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    I did a little digging too. I had a guest pass for 2 weeks and was about to sign up to the $5000 lifetime membership fee because I actually made pips trading their calls in the first week. The second week took a dive but not too bad, only down 2 pips. And that can happen right?

    Week 1 = +113 pips
    Week 2 = -115 pips

    I didn't scale out of any trades as I was trading only 1 contract lots.
    This all seemed reasonable and I can admit that the 113 pip gained is something I couldn't have done on my own. I'm pretty good at losing pips though, so the second week I could have achieved on my own :eek:


    But a little voice in my head kept bugging me and warning not to part with my hard earned $5k! Here's what that voice was saying.

    1) I was definately not receiving all the SMS trade calls like the sales rep said I would. I stressed to him that because I work a day job, I would be relying on those calls to alert and inform me of the opportunities. I know I missed some for a fact because when I logged into the live trading room next day, I could see that participants (and moderators) were commenting on trades that I never received - and hence wasn't in. Trades that mostly went well as I recall. OK, I had a free guest pass so one might assume they don't want to send out all their pearls to freeloaders. Still this was the major selling point for me - and it let me down. Days went by on some occasions and not an SMS to be seen. Even now with the Japan earthquake/tsunami still unfolding - nothing! I may be green to FX trading but would I be wrong in thinking there must be an FX opportunity playing out right now and in the days immediately after this news broke? I think not. I suspect they're flat out setting up trades and don't want to waste the really great opportunities on freeloaders.

    2) The YTR rep informed me that although the SMSs were free to guests, their more regular email market summaries were not included for guests. Strange. Emails can be sent at no cost - whereas SMSs would actually cost them money. Why would they do this?

    3) The rep quoted me that they had 'educated' 3000 members since inception. When later I asked how many were current members he said 800. That's only a 26.6% retention rate. So my next question was; "Why would anyone walk away if the system is making them money?" His explanation was that the 800 only represented the ones who login regularly (ie active members) and the other 2200 are out there presumably making squillions from their education in the YTR live trading rooms and don't need to login. Sorry, but if any person or system has given me that sort of financial freedom - I'd support them to the end of the earth and would keep logging in forever more.

    4) I don't like being totally reliant on anyone or anything. To sign up for YTR requires a lot of trust in everyone at YTR. While the pro traders like Willie certainly seem genuine - I don't believe the whole system is transparent to all members. My gaps in SMS alerts is the key driver for that belief.

    Long story short. They nearly had me by the short and curlies! But I've backed out and decided it's back to the hard slog of trying to find my own trading system.

    Sigh... does it ever end?
    I tell you this... if anyone here can help/coach me to develop a good FX trading system that they can prove returns consistent profits - I'll gladly pay you what I was going to pay YTR.
     
  20. Ruby

    Ruby Well-Known Member

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    Interesting to read your take on it Bullbear. I notice FXtrader has not reappeared now that he can no longer defend his postion.
     
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