Please can someone who has used or is currently using Vantagepoint Indicator Software for Fx trading share his/her experiences with me on its accuracy and simplicity of use?
Iām wandering the same thing. It is very pricey. Iāll be sure to update you on it if I buy it.
I had not heard of it until you mentioned it, but looking at it, it does seem interesting. Certainly would appreciate you coming back with an update if you take the plunge.
It is the closest you can get to a Holy grail! Yes it costs a lot of money, but you Know the saying, you get what you pay for. With proper money management, you will make your money back within 2-3 weeks depending on how many currency pairs you trade and leverage. At first I thought I thought the same thing that you guys did, I dismissed it because of price. I know someone who was giving me predictions and low and behold, this is what he was using.
On an account of starting with $200 he is a millionareā within 8 months. Yes it is worth it!
Another software to look into is forexmap. Not as costly, but still going hit you for about 2 gās.
Well I visited traderchat.com. A forum just for vantage pointe users. Did not find the results I was hoping for. Let me explain, I didnāt find any results worth $3,800.00!!! Even people who have been using the software for 4 to 5 years are just now profitable with it. I donāt see how that is worth the price tag to me.
If you are using it DollaBill, and are successful with it. Consider yourself to be one of few.
Trade well.
It is not the only software that I use. There is no get rich overnight software out there. Actually, I was doing pretty good before I got the software, It conly gives definite profected numbers of support and resistanced. So far, the numbers have been on point.
Iād also like to say this, if you have a good trading method and proper MM, thatās all that you need to become successful. Just use patience and beleive in your system. If something goes wrong, itās probably with the operator, not the system. Iāve found that last part out the hard way (losing money).
Oh yeah, I agree with you. I just donāt think it is worth the money.
Not to me anyways. I donāt really need it. I was interested(curious) in it at one in time but not anymore.
No software/person can predict the market. If it was true, they would use it to make billions instead of selling it for $3800. Iāll stick to my little 72 to 78% accuracy and not have to predict anything. And keep my $3800 in my trading account. Just my opinion though.
Agreed! We purchased it as a team, so the cost was less significant.
do you really think this software is worth the cost, surely its noe a hoax, ive read great reviews in independent trading magazines
cheers
The problem with reviews in magazines is that they are not independent, the vendors or people acting on their behalf are writing them. I have had vantagepoint for a year and a half, I used to read traderchat every day and I experimented with every concievable strategy no success at all, I know many others in the same situation.
You will not make money using VP, hundreds have tried and failed, of course there are people who say they can but none of them will ever prove it. The best excuse youll get is something like āI use it as a confirming signal to my own analysisā etc etc.
Iām surprised about the positive review this EA has received as I have read other reviews on youtub and other sites and they have not been positive:confused:
cbrecruit,
Consider this scenario,
-You are a sales person for a software product that doesnt work very well.
-Many purchasers have posted negative comments about the product on various forums
- The only thing you need to post on these forums is an e mail address and you can create as many usernames here as you have e mails.
Do you think that there is just the slightest possibility that someone from VP might just be posting positive comments here to counter all the criticism? After all they can offer no proof the product works. I have seen this time and time again with VP, they have even had people banned from other forums for criticising the product.
Whatever you do dont fall for this, VP is a waste of money, I know this because Iāve had it a year and a half. The indicators are just moving averages and the neural index is just an average of previous days prices.
Posts that say things like āmy friend turned $200 into millions using VPā are ridiculous, you should not believe them.
ps can you tell me where to find the reviews on youtube please?
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I almost bought the VP software. They email me once a month with ātrade of the monthā. They expect me to believe their users held on for the full duration of 5000, and 10,000 pip moves, wile their 80% accurate signal, as I read it in the hindsight emails, said to unload the positions several times. I do believe the software can alert users to potential big moves, as the salesman did email me a future chart, had I acted on the information I would have made hundreds of pips that week. But I believe that was a ācherry pickedā chart, to persuade me to buy the software.
Malcolm
Malcolm,
Of course it was cherrypicked, ask him to send you the same chart for the past year and see what excuse you get. Like any moving average crossover it will work on occassions, however it will fail more often and you will lose overall.
I just came across a copy of VP, but should I even use it? I keep hearing and reading a lot of bad feedback about the software. Thanks!
Hi
I recently spent some time analysing VantagePointās āPredictive Neural Indexā indicator and thought Iād share the results with you. As you will see, although the specific claims the company makes appear to be accurate, as far as I can tell itās still completely worthless. The following text is a copy of an email I sent to the company on 21st May 2012.
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Iāve taken a look at the analyses by Dr Meyer and Dr Warnock, and also of those by Dr Harris and Dr Arcuri. Although their tests were technically accurate in terms of their methods and conclusions, Iām afraid I cannot see any evidence that VantagePointās Predictive Neural Index (PNI) indicator is capable of providing any statistically-significant advantage, nor in fact that it has any predictive abilities beyond those available with simple, traditional (and free) indicators. Furthermore, I believe I can demonstrate conclusively that it does not ā*at least with the sample data you provided.
The PNI indicator is described as a prediction of whether the 3-day simple moving average (SMA) of the typical price will be higher or lower in 2 days time. As Iām sure you know, a 3-day SMA in 2 days time will still use todayās data for one third of its calculation. Also, a 3-day SMA lags the price by 1.5 days, so the prediction is only really for half a day in the future. Furthermore, by using the typical price (ie the average of the high, low and closing prices), the PNI does not even provide a directional forecast that you could reasonably expect to trade, since it only applies to the range of the price, not the closing price.
I compared the results from the PNI with some very simple predictions of my own based on the current slope of a moving average over various periods and using several different averaging methods. In each of these tests, I predicted a rise in the 3-day SMA of the typical price in 2 days time (equivalent to a PNI of 1) where the slope of the moving average was positive, and a fall (equivalent to a PNI of 0) where the slope was negative. The full results are included in the attached spreadsheet.
For the sample data that you supplied, from June 2010 to May 2012, the PNI indicator achieved 78.1% accuracy for both the S&P 500 and the GBPUSD. Over the same period, the slope of a 3-day exponential moving average of the closing price, for example, produced an accuracy of 78.2% for the S&P 500 and 77.6% for the GBPUSD. With a 2-day exponential moving average, the accuracy for the S&P 500 increased to over 80%, while still achieving an accuracy of 76.4% for the GBPUSD. On average, these results have an accuracy of 78.1% ā identical to those achieved by VantagePointās PNI indicator.
I accept it is possible that the PNI may perform better if I were to test it over a wider range of markets (and I would be happy to do so if you were to provide the additional data). However, given my understanding of the mathematics involved ā and given that your own published results state very similar accuracies ā*I would be very surprised if this were the case. Iām also surprised that the mathematicians and scientists who have verified your results have apparently failed to spot these facts.
If you believe I have made some error in my calculations, or have some other information you can provide that might change my opinion of VantagePoint, I would be very interested to hear it. As a courtesy, I will wait until Saturday 26th May before sharing these results via my blog, or any other website, in order to give you sufficient time to respond.
Marcus Don
bionictrader.co.uk
Whoa there DollaBillā¦ do you realize what it would take to turn $200 into a Million in just 8 months? That would require a total return of 2410% for the 8-month period. Itās clear to me that somebody is NOT telling the truth about VP software
Can you make your analysis available please.
A friend may have told you that he took $200 to more than $1 million in 8 months, but he or she cannot be telling the truth. I will be $1 million that it is a lie. Impossible!! That aside, the software is excellent. How to use it is the challenge. There are four indicators that āpredictā where the price will be over the next one to three days with a fair degree of accuracy. I have figured out a way to use the predictions that work for me. It only took two to three days to figure out the best way for me to use. My way might not be suitable to your style of trading. Iām 100% mechanical and I just added the predicted price move as a filter. Only doing longs, for instance, when VP predicted a sustained up move. Works for me!! But, certainly not a million dollars profit in 8 months.