Hello everyone, and thanks ever so much for the posts.
uptick:
No, I have not received a reply from them as yet, but, to be honest, I don't think they'll go for it just on the off chance that something goes 'sour' and it would be their reputation at stake no matter HOW MUCH I make it clear that they are not the ones guaranteeing the losses. But then again, after some more thought, is this guarantee even necessary??? I mean I would only give the best signals out because it's in my interest to make sure that everyone is profitable and that, I think, will 'sell' more accounts than any guarantee I am able to make. What do you think?
Brendon:
I trade anything and everything where I get a signal (in true 'Dale' style as mentioned) but no, I would say that if you only traded the majors at once, you'd be good to go. I have traded some exotics this week and made a nice profit (like EUR/SEK, USD/DKK, EUR/NOK) and even with the HUGE spreads things worked out nicely. I've added the 'commdolls' BACK to my 'basket' but the results are not that great AT THE MOMENT but the one thing I have learned about the system is that you DO NOT exit until you get a signal otherwise you will 'kick yourslef to death' because invariably when it gives you a signal it appears to always be right!!!
There is also a formula in the book called the 'Commodity Selection Index' which, based on certain inputs, tells you what the 'best' intruments are to be trading at that moment based on movement, leverage, margin requirement, etc. etc. etc. so if you have the time to 'work' the formula every day (or open an account at Delta of course, through me of course, then, of course, the CSI has been 'coded' into the platform as an 'indicator') then you could pick the instrument(s) that is / are the highest on the CSI scale and trade only that / those instrument(s). In other words: no there is no hedging involved. Of course if you're trading EVERYTHING that 'comes your way' then you will obviously be 'inadvertently' hedging but it's not a requirement of the system rather a 'factor of greed' on my part!!!
Most of the trades that I have done in the past month or so probably average two or three days but then I have some open now that have been going for week already (like Soybeans).
Due to the 'modifications' that I've made the system works on anything and everything (and they were not 'modifications' to the system itself it's just that you have to be careful to take into account the way that different instruments are quoted i.e. you've got to be concious of the fact that a forex pair will have a price of let's say 1.6199 but something like Soybeans has a price of 1369.50 and the value of a pip movement on forex may be, and is, different to the value of a pip movement on a commodity like Soybeans). Look, if the truth be told, all the system does is indentify MATHEMATICALLY the REAL AND TRUE swing points in the market much like a candlestick trader is able to do (and I'm sure that once Tony gets his book he'll agree with me and see what I mean by that). Having said that though you don't have to be able to recognize any patterns or formations or anything like that i.e. it's purely mechanical (mathematical???).
Well done on being short USD/ZAR!!! I'm not in the trade because it has not 'swung' yet BUT if it closes anywhere near where it is right now i.e. at 7.6613 then I'd be getting a definite signal to go short and place an order just below the low of today (this point also 'mathematically' calculated). If this scenario 'plays out' today I would be placing an order to short at 7.5983 as per the system (assuming that the low did not get any lower today and, as I said, if it closes today somewhere near where it is now). By the way: I have, at the moment, the same scenario on EUR/ZAR and GBP/ZAR (BIG 'payers' if you've got the stomach for it)!!!
Boca:
I know what you mean about Delta's platform. It really does take some getting used to but once you've mastered it you'll see that it's superb and very professional. I (personally) like GCI's platform (but then again I think that it's because I have an emotional attachment to it i.e. I've lost a good few $10K through that platform)!!! Anyway, it's not something you need to worry about i.e. I have an (almost) direct line to support there and I am capable of providing you with first line support on the software and if there is anything that I cannot answer then I know I'll be able to sort it out for you by contacting them. As I said: they are not full of 'sh*t' like everyone else i.e. there have been one or two 'things' that I suggested should be added to the platform and they actually took note and made the changes which are now in the current version. You know, that type of thing. You ask GCI to make a change for you and see how far you get??? You'll be VERY lucky to get a reply let alone an update to the software (actually that's unfair because GCI's software is written by ACTForex and THEY could not be bothered to reply to any queries that you may have. You are, after all, 'just a trader' you know)!!!
Oh, and have a few more 'ales' for me. I can't drink tonight as I'm still hungover from my 'stint' the other night would you believe!!!
Last edited by dpaterso; 02-14-2008 at 11:42 AM.
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