You don't understand a specific financial term ? Visit our Forex glossary
Page 3 of 5 FirstFirst 12345 LastLast
Results 21 to 30 of 42
  1. #21
    Robshan is offline Junior Member
    Join Date
    Apr 2012
    Posts
    1

    Default

    Hi Saroq, I had a webinar with these guys the other night and currently demo the system at the moment although it's a bit disappointing that when you demo you don't actually get the EA to be able to backtest or paper trade with, you only get access to the trading room and course.

    How have the discretionary EAs performed? I'd be interested in actually checking out the EAs

  2. #22
    Saroq is offline Member
    Join Date
    Nov 2011
    Posts
    32

    Default

    Hi Rob,

    The discretionary EAs rely on you recognizing three chart patterns and entering the trade at the appropriate point. They are the pennant or flag pattern, the head and shoulders pattern and the double bottom / top / test pattern. Once you've identified one of these three patterns you enter the trade and the EAs will set a stop loss and profit targets for you. The software doesn't do anything regarding finding these set ups / trades for you it just manages them once you enter the trade. Honestly I think that you could set up MT4 to do the same thing for you but you would have to make your own decisions about where to place your stop loss / trailing stop and profit targets. Of course it's beneficial to have EAs that manage a trade while you're asleep but I'm confident that somewhere in the forex community someone has written EAs that will do this for you and they won't cost $3,000.

    New EAs for the paymaster and escalator are being distributed and installed on Monday so it'll be interesting to see if their performance is any better after that happens. I don't know if new EAs are being developed for the 3 discretionary EAs.

    How well the discretionary trades performs is very much up to the individual but given that they are more flexible and don't apply rigid rules you may have better luck with those.

    I like the people at Vertue trading and believe they are sincere but my personal opinion is that you'd be better off learning about forex at www.babypip.com and www.forex4noob.com before you part with $3000 for the system. I am almost at the end of my 11th week of trading the PM and ESC and it's going to be another loosing week unless something very special happens in the next day and half.
    Last edited by Saroq; 04-04-2012 at 09:37 PM.

  3. #23
    Saroq is offline Member
    Join Date
    Nov 2011
    Posts
    32

    Default

    For the week 02 April 2012 to the end of trade on 07 April 2012 the balance of my AU$10,000 is now AU$9,077.49. Using Vertue Trading's Forex Odyssey Trading System (the two mechanical strategies, paymaster and escalator) has produced a loss of $896.41 for the week.

    After 11 weeks of trading this system I have never had a week that produced a profit and my account is showing a loss of $922.51 for 11 weeks of trading.

    Vertue Trading has announced that the paymaster (PM) and escalator (ESC) EAs will now be traded on a 24 hour candle roll and not the 12 hour candle. They are releasing a new EA that they say has produced phenomenal results in testing. As you can imagine I’m holding my breath.

    Their latest email said they had received many kind words from friendly people and that they were humbled, I doubt that those words were in relation to the performance of the PM and ESC EAs. Since early January 2012 their performance has been abysmal. The money management side of their system has prevented losses from being too great but the two EAs simply have not made money for the last 3 months. Non-members have not been able to check the performance results on the website for at least the last 2 weeks and the results graph in the members’ section has not been updated since March 14.

    If you are considering purchasing the system I strongly urge you to delay doing so until you have educated yourself about trading forex, www.babypips.com and www.forex4noobs.com are two sites you could start with to do this. Once you have a bit of knowledge you can better evaluate whether or not the service Vertue Trading offers is worth the money they are asking.

    They do make entering the world of trading forex easier because of the trading room sessions that offer guidance and instruction on how to calculate position sizes and place trades on the MT4 platform, but there is nothing that they teach that is worth $3,000 and that cannot be learned for free on the web. I speculate that most people are buying this system because it offers the set and forget feature that should produce profits, this is why I paid $3,000 for the system. However, the PM and ESC EAs have not done this for me and since my trades are the same ones Vertue Trading’s own people have identified they can’t be working for anyone who is following the system rules.

    Their Odyssey EAs may do a better job of managing the discretionary trades profitably but I have not given them a proper test yet because I didn’t want to confuse the two different EA results.
    Last edited by Saroq; 04-06-2012 at 03:07 PM.

  4. #24
    anish is offline Junior Member
    Join Date
    Apr 2012
    Posts
    3

    Default

    Hi Saroq,
    Very nice of you to post your experience with Vertue Trading. I had thought about joining but just not sure.
    I will now hold off until their performance improve.

  5. #25
    Saroq is offline Member
    Join Date
    Nov 2011
    Posts
    32

    Default

    Hi Anish,

    I think that's a good idea. I'd like to state again that my dealings with everyone at Vertue Trading have been very good and I believe they are sincere and honest but their PM and ESC EAs are not passing muster at the moment.

    I wish I had more experience to comment on the discretionary Odyssey EAs and how well they manage the trades. I hope to start posting info about these soon but my life is very busy so I bought the system to have software that identified trades with a high probability of success and would manage them to return a profit. If only the Odyssey EAs do this successfully then I see little point in buying the system.

    Additional info: Another site you can visit to get info about how to trade the 3 chart patterns they trade under to Odyssey discretionary trade is http://www.stock-market-strategy.com/

    Keep checking back with their website to see if the results improve but the education offered isn't worth the $3,000 price tag so the value has to be in the system and that's not worth $3,000 either, at least not since January 2012.

  6. #26
    Saroq is offline Member
    Join Date
    Nov 2011
    Posts
    32

    Default

    Quote Originally Posted by Robshan View Post
    Hi Saroq, I had a webinar with these guys the other night and currently demo the system at the moment although it's a bit disappointing that when you demo you don't actually get the EA to be able to backtest or paper trade with, you only get access to the trading room and course.

    How have the discretionary EAs performed? I'd be interested in actually checking out the EAs
    Hi Rob,

    I just reread your post and realized that not letting you test the software is something new. When I signed up to evaluate the system they loaded a copy of it onto my computer. The change of policy could be to avoid having people copy the EAs or perhaps they don't want people to see it in action when paper trading. Either way it's not a good way to evaluate a software package if you can't use it.

  7. #27
    Saroq is offline Member
    Join Date
    Nov 2011
    Posts
    32

    Default

    For the week 09 April 2012 to the end of trade on 14 April 2012 the balance of my AU$10,000 account is now AU$9,036.28. Using Vertue Trading's Forex Odyssey Trading System (the two mechanical strategies, paymaster and escalator) has produced a loss of $41.21 for the week.

    After 12 weeks of trading this system I have never had a week that produced a profit and my account is showing a loss of $963.72 for 12 weeks of trading.

    I take only the trades that are identified by Vertue Trading's own people so this is how the system performs if one of their traders were trading my account.

    It should be obvious from these results that it would be unwise to pay for the system. Continue to check their website and if they ever allow people to see the current results again you can make a decision later. I have posted some sites you should visit to get some education and I think that a month spent reading about trading will make it possible for you to make a better decision.

    The previously announced changes have not occurred yet and there is no definite timeline when they will. Exactly what these changes will be no one knows but I get the sense that they will try to educate people to take more discretionary trades and if that is the case what is the point of their system? You can develop your own EA to manage a trade with an entry point, stop loss, trailing stop and take profit points.
    Last edited by Saroq; 04-13-2012 at 03:44 PM.

  8. #28
    Saroq is offline Member
    Join Date
    Nov 2011
    Posts
    32

    Default

    For the week 16 April 2012 to the end of trade on 21 April 2012 the balance of my AU$10,000 account is now AU$8,524.50. Using Vertue Trading's Forex Odyssey Trading System (the two mechanical strategies, paymaster and escalator) has produced a loss of $511.78 for the week.

    After 13 weeks of trading this system I have never had a week that produced a profit and my account is showing a loss of $1,475.5 for 13 weeks of trading.

    I take only the trades that are identified by Vertue Trading's own people so this is how the system performs if one of their traders were trading my account. I also follow their money/risk management strategy to the letter, risking only 2% of the lower amount of my account balance or equity.

    Do not waste your money on this system. Although they have a new website and have repackaged/renamed the old system (plus added two new strategies) the past 13 weeks of my results plus the fact that the evaluation time is only 1 week and no results are currently available for viewing on their website should be enough for you to give them a miss.

    I may continue to give updates on how the new PM/ESC perform but an indication of their own lack of faith in these EAs is the fact that they can now only be traded once per day and the default setting for each trade using these EAs has been reduced from 2% to 1%.
    Last edited by Saroq; 04-20-2012 at 03:19 PM.

  9. #29
    anish is offline Junior Member
    Join Date
    Apr 2012
    Posts
    3

    Default

    Hi Saroq,
    I attended their latest webinar. A new Javelin EA was mentioned that auto-trade unattended. Have you try it?

  10. #30
    Saroq is offline Member
    Join Date
    Nov 2011
    Posts
    32

    Default

    No I have not tried the Javelin yet. It is a very recent addition. I will post my experiences with the new look systems once I have something that is worth telling you about.

Page 3 of 5 FirstFirst 12345 LastLast

Similar Threads

  1. My Forex Trading Experience
    By vic2 in forum Software
    Replies: 0
    Last Post: 03-05-2013, 10:47 PM
  2. What is Important in Forex Trading money or experience
    By robin7 in forum General Topics
    Replies: 0
    Last Post: 02-19-2013, 01:17 PM
  3. Forex Trading Experience
    By Eugine in forum FX Articles
    Replies: 0
    Last Post: 11-17-2010, 09:05 PM
  4. Forex Megadroid - 38 Years of Trading Experience, developed in to a Forex System
    By ForexHitter in forum EUR USD, GBP USD, USD CHF ...
    Replies: 0
    Last Post: 05-12-2009, 06:53 AM
  5. Forex Trading Experience Sharing
    By keenprofx in forum FX Articles
    Replies: 2
    Last Post: 12-14-2007, 10:18 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Comparing Versions of footer
 

Search Engine Friendly URLs by vBSEO 3.6.0