Online Trading Systems - Dowtrader7

[Jonathan1000 10]

Hi All,

 

I have tried a trading systems on the internet including Trader Tom, FTSE Trader a few others too...but what caught my eye is a site called Dowtrader7 I have used this for one week now and it appears to make money although the so called "master" doesnt trade everyday...just was wondering if someone could take a look at the site and tell me if the trades shown look genuine..i mean how can someone make money every time they trade...could this be true? The trader even posts the trade info on twitter which is @dowtrader7 as trades are complete....cant be a lie? Please help its £50 per month is it worth it?

[BlueHorseshoe 10]

Contact the company marketing the software and ask to see audited accounts showing returns for at least three years.

 

Also, it doesn't matter whether or not the strategy is exhibiting a very high win rate. Consider a strategy that has a 99% win rate and makes $100 per trade, but looses $9900 1% of the time. It would never make (or loose) any money over the long haul. Except that thrading this strategy you would lose money over the long haul because of slippage, spread, commissions, account fees, platform fees, etc.

 

Given that you have seemingly made the exceptionally sensible leap (in my opinion only) towards systematic trading, then why not develop and test a system of your own where you can at least be confident of its historical performance?

 

Hope that helps, and good luck!

 

BlueHorseshoe

[Jonathan1000 10]

Hi there,

 

Thanks for the information, I spoke to the trader who runs dow trader 7. He is a former trader at a futures trading company. I asked him more information regarding his trading strategy, he didn't tell me how it works but told me he uses a mechanical trading system that he applies in the same way but also uses human intuition that tells him the days where its best not to place trades. I have backtracked his tweets on twitter against the trades showing on the website and seems all valid.

 

I did ask him about the 99% small winnersand 1% big loss that could wipe all profits out.

He told me that this can happen if a person doesn't know how to set stop limits, know when to take profit and also who "marry trades" hence cant get out of losing trades.

He says with his 11 years of watching the movement of the market and 20 year backtesting trading strategy he is able to achieve successful results.

 

He says people who stick to learning information about trading from textbooks never make it, as the people who write the textbooks (who are too afraid to try trading and prefer to talk about it) provide too much scary information and advise on what you can and can't do.

He said that people who are always sceptical of other peoples' winning systems are usually like this as they couldn't find a winning system themselves or weren't able to psychologically get it together themselves to become consistent. He said many of his clients were like this, and now they are doing very well copying his style of trading.

 

I felt that what he said made sense. He also said that the people who really make the money get on with it, and trade the same patterns again and again.....

 

He said people who look for problems find problems, the ones who want success and try hard for it achieve...all a psychological game. I feel very good about trying this system now.

 

I am on a one week trial now....and am going to see how it goes

 

I really appreciate your help, as if you didnt tell me, I wouldnt have known what to ask.

[M.A 10]

Hello Jonathan1000.

 

I have my doubts on the following actions of Dowtrader7

1- I agree with dowtrader7 that only "text" doesnt make u successful trader. But what I can see so far on his website is unverified statement and claim of success which is "text" to me. Anyone can make such a website with valid entries and exit by doing a little homework on past data.

2- Loss rate is very low. It is possible but doubtful when he is not showing any proof of legitimate trading statement.

3- Of course he is trying to maximize his earnings but why is he selling it so low because for such a system, traders r willing to pay higher cost. (I do not accept "for the sake of humanity and for helping poors" answer)

 

Above were my doubts BUT followinh two things r in his favor.

1- He is providing one week free trial which means he is sure that u will like his system (But shouldnt ask for phone number (which is doubtful:doh:)

2- If, in trial period, he made successful trades then u might have enough money earned to pay for his monthly subscription.(by looking at performance in the statement given on his site).

 

Please share ur weekly trial experience with us.

 

 

Thankyou