Hi everyone. I’ve just finished the babypips school and have been reading different books on “Systems”. I;ve looked at the Cowabunga system and think its truly effective however there is another system that has caught my attentio but im skeptical about it. It’s called the s90 crossover system which teaches you how to make 100 trades in a row without losing. Anyone give me adivice about this.
I find it extremley diffucult to win 100 times in a row!!!
I’m not familiar with the system; however, the book by Snellgrove in which it is discussed has received abysmally bad reviews.
Take this quote from the blurb on the inside flap of the hardcover edition of the book:
[I]
Written in a straightforward and accessible style, Selective Forex Trading skillfully outlines the S90/Crossover�: an independently verified technical indicator developed by Snellgrove that has provided traders with the ability to achieve over 100 consecutive Forex trades without a single loss. Whether you’re a seasoned professional or just getting started, this approach�which is based on historical resistance and support points within a trading range�can assist you in entering and exiting positions for the greatest profits possible.[/I]
[B]“Independently verified”[/B]
By whom? And for what? How do you “independently verify” an indicator?
[B]“The ability to achieve over 100 consecutive forex trades without a single loss”[/B]
Is this “independently verified”? If so, where are the citations, and who verified it? This is a highly, highly suspect claim that is actually very misleading. Many “indicators” give you the “ability” to make countless consecutive trades without a loss: but that simply means there’s a possibility of doing so, with no word on just how remote that is. Bombastic claims like this are, unfortunately, a dime a dozen among many who are marketing forex books, training courses, systems, etc. There is nothing about this quote that can be proven or disproven, though: look closely and you’ll see there’s no actual claim that 100 consecutive trades without a loss has ever been done with the “indicator”. This is a sham, and that line is worded the way it is for a reason.
[B]
“this approach�which is based on historical resistance and support points within a trading range”[/B]
Can you be more specific on what the details of the actual system is here? Reviewers on Amazon consistently refer to the book as “rubbish”, so I can’t imagine there’s much going on here.
You are right to be skeptical. Because I’m unfamiliar with the “system”, I can’t offer a specific critique, but based on the marketing schlock quoted above and the ludicrous claims (intended to reel you in to buying a $64 book that will divulge the secret to 100 trades in a row without a loss!), best to steer clear.
Feel free to post the details of the system if you want further feedback on the topic.
And: plenty of free systems posted here in the BP forum to browse…
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Hi,
A little advice, i have around 50 forex books, let me tell you, the useless pile is far bigger then the useful pile!
That alone should tell you something.
I doubt any trader no matter how good they are will be able to take 100 trades and loose none.
I’ll tell you what i can do, i’ll take the 100 trades and make some small losses along the way, but the key is to make sure that the ones you win are far bigger then the losses. (Control your losses and keep them small).
Anybody that tells you otherwise - ask to see their trade account details.
N
There is a dynamic system on collective2.com that I use called Pipalert, you can try that one to see if you like it too.
are tere any more lessons?