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Proforexcourse.com

  • #1
  • First Post: Jun 29, 2013 4:12am Jun 29, 2013 4:12am
Inserted Video

www.proforexcourse.com
http://www.forexpeacearmy.com/public...orexcourse.com

I am trying to get hold of the book containing this strategy, which provided it is not a copy I believe you are entitled to sell. Anyone willing to sell their copy please PM me.

Ta
  • #2
  • Jul 2, 2013 6:37pm Jul 2, 2013 6:37pm
For several years I have been a quiet reader here at FF, not because I did not have what to say, more because I am a lazy typer, but this topic makes me want to leave a comment.

Finally, as a proud owner of the book, I know something more about the format of it. In the center of every page on there is huge serial number and my name and surname behind the text. Also my name, surname, address and serial number is in the corner of every page. And there is a quite impressive copyright disclaimer. All summed up, I would not even consider selling it. And even if I would, what could be my price for a working strategy, considering all the risks of my personal information traveling around the net with a risk of getting sued?

Did you think about the risks of your side as a buyer? What if someone tells you that he will sell you the book at 1.5k. Sounds like a bargain. You transfer the money to that person and instead of getting the course, you will receive a book called Trading for Dummies, that costs 30$. Not a bargain at all.

I decided to make this post just to show that your expectations are unlikely to meet the reality.
  • #3
  • Jul 4, 2013 6:06pm Jul 4, 2013 6:06pm
VTtrader,
I just bought the book, and so far red five times. Have difficulty to understand the strategy,
If not much of a distraction to you, I would much appriciate it if you can share in privet with detailed questions.

One of the problem I have is in USA, brokers do not understand whatmeans SAR.
As security for proforexcourse and copy rights and community members, I'll be happy to share my serial number.

my goal is to establish a tutorial partner to expedite learning process.


thank you
and hope to here from you
  • #4
  • Jul 5, 2013 5:25am Jul 5, 2013 5:25am
Quoting mig4188
VTtrader, I just bought the book, and so far red five times. Have difficulty to understand the strategy, If not much of a distraction to you, I would much appriciate it if you can share in privet with detailed questions. One of the problem I have is in USA, brokers do not understand whatmeans SAR. As security for proforexcourse and copy rights and community members, I'll be happy to share my serial number. my goal is to establish a tutorial partner to expedite learning process. thank you and hope to here from you
Mig4188,

I really don't understand, why you ask for help here, but not from the support team? When I got to clarify something, I got answers from them. And as I understood from your question about SAR, you have indeed some problems with reading the book. Everything related to the SAR is clearly described in details. It is just a term they use for a simple action: closing the position and opening a new position in another direction, which they call Stop And Reverse (S.A.R.) This is just an abbreviation.

Send me your questions to email, [email protected], as I don't like PM's, and I will help you.
  • #5
  • Jul 10, 2013 12:08pm Jul 10, 2013 12:08pm
Quoting VTtrader
For several years I have been a quiet reader here at FF, not because I did not have what to say, more because I am a lazy typer, but this topic makes me want to leave a comment. Finally, as a proud owner of the book, I know something more about the format of it. In the center of every page on there is huge serial number and my name and surname behind the text. Also my name, surname, address and serial number is in the corner of every page. And there is a quite impressive copyright disclaimer. All summed up, I would not even consider selling it....
VTrader, can you vouch for the results claimed on the site?
  • #6
  • Jul 11, 2013 3:58pm Jul 11, 2013 3:58pm
Quoting MarkW1979
VTrader, can you vouch for the results claimed on the site?
Again, I am not a forum poster, I am just a reader. If you have a question, better email me. Do I make 20% month? No! I am a lazy trader. Last month I made 7 percent. I am not a regular trader, but thats ok with me. Could I make more, I would say yes. Do I need to make more, No. Thats it.
  • #7
  • Aug 6, 2013 4:25pm Aug 6, 2013 4:25pm
Before I spend $2.5k can someone who knows the strategy please confirm whether or not it's what I think it is:

1) Wait for news event to ensure high probability of a strong move.

2) Place pending orders above and below current price (long above, short below).

3) When one pending order is taken out, delete the other.

4) Let's say the long order is taken out. Set SL to 10 pips. When profit is equal to SL (10 pips profit), move SL to open price and open another long order, 10 pip SL again. Repeat.

In this way the risk (i.e. maximum loss) never exceeds the initial 10 pips but the number of open orders (and therefore profit) can be increased with no upper limit. If someone can confirm whether or not this is the technique described by proforexcourse then I can decide whether to buy it or not. Thanks.

By the way, my reason for believing the technique described above is the one outlined in the proforexcourse book is because their presentation PDF states the following:

"Adding positions to winning trades is the core principle of the ProForexCourse strategy"

"Every added position multiplies traders profit without any threats to a deposit"

"Multiplying our profits by opening additional positions every 10 pips and keeping losses fixed ensures a minimal risk to investments."

"By designing a revolutionary order positioning sequence, the return of 1% per trade from initial deposit became possible to achieve."
  • #8
  • Aug 7, 2013 3:33pm Aug 7, 2013 3:33pm
Quoting MT4Coder
Before I spend $2.5k can someone who knows the strategy please confirm whether or not it's what I think it is: 1) Wait for news event to ensure high probability of a strong move. 2) Place pending orders above and below current price (long above, short below). 3) When one pending order is taken out, delete the other. 4) Let's say the long order is taken out. Set SL to 10 pips. When profit is equal to SL (10 pips profit), move SL to open price and open another long order, 10 pip SL again. Repeat. In this way the risk (i.e. maximum loss) never exceeds...
MT4Coder, there are some similarities to the system, but no, the strategy is different, and a bit more complicated. But overall idea of cutting losses and leaving profits multiply is somehow similar to the system. Glad to see that someone have read the presentation from their website. You seem to me brainy, great to see such people on the forum.
  • #9
  • Aug 7, 2013 4:20pm Aug 7, 2013 4:20pm
I would like you to record in fullscreen so we can see in the top left corner that it is a live account. Maybe you can show when logging in aswell. I dont belive you. I dont belive your name is Thomas Brooks. You have a baltic, russian or polish accent. Stop husteling!
  • #10
  • Aug 8, 2013 9:59am Aug 8, 2013 9:59am
@VTtrader:
Thanks for your input! You said the proforexcourse strategy is different, want to give me some hints? :-) An alternative to the strategy I outlined is to partially close the previous order at 10 pips profit (close 50%) and then open the next order. In this way the stoploss doesn't need to be moved and small reversals won't be a problem (as they would if moving the stoploss to the open price). Is this any closer to the proforexcourse strategy?
  • #11
  • Sep 29, 2013 12:22pm Sep 29, 2013 12:22pm
Update: despite the many online "reviews" of proforexcourse.com claiming it isn't a martingale, I can confirm that it definitely is. For anyone who doesn't know what a martingale is and whether it's a viable trading strategy, just Google "Nick Leeson" :-)
  • #12
  • Oct 2, 2013 11:41am Oct 2, 2013 11:41am
Quoting MT4Coder
Update: despite the many online "reviews" of proforexcourse.com claiming it isn't a martingale, I can confirm that it definitely is. For anyone who doesn't know what a martingale is and whether it's a viable trading strategy, just Google "Nick Leeson" :-)
MT4Coder, I see you did not get the course. Sorry to upset you, but this is not a martingale.
You googled the wrong person. Better google Jesse Lauriston Livermore, you'll get a better understanding of what this strategy is all about.
  • #13
  • Oct 4, 2013 11:44am Oct 4, 2013 11:44am
It is a martingale and there's a fundamental difference between a martingale and Jesse Livermore's technique of averaging up, or adding to profitable positions (pyramiding). In any case, given that Livermore went bust several times I don't think your comparison is any more palatable than mine with Nick Leeson.

Any system that requires an increase in position size to cover losses (such as this one) is a martingale. Yes, the proforexcourse strategy involves adding to winning positions but that's separate to the martingale aspect, which is the part that makes this system highly dangerous (anyone that understands the term "fat tails" will know exactly what I'm referring to here).

Personally I'm sticking with my own strategy explained above, which has the benefits of pyramding without increasing risk.
  • #14
  • Oct 5, 2013 4:51am Oct 5, 2013 4:51am
I really don't get this, why there is always someone who has never used or even seen something, but speaks about it with the most confidence??
  • #15
  • Oct 6, 2013 4:31am Oct 6, 2013 4:31am
@Miller180
I clearly stated "I can confirm that it definitely is" (referring to it being a martingale). They key word there being "definitely", not "I think it is" or "I believe it is". Obviously I have read the manual otherwise I wouldn't know with 100% certainty, would I? Perhaps if you pay more attention in future you'll avoid these types of misunderstandings.
  • #16
  • Oct 6, 2013 3:44pm Oct 6, 2013 3:44pm
Quoting MT4Coder
@Miller180 I clearly stated "I can confirm that it definitely is" (referring to it being a martingale). They key word there being "definitely", not "I think it is" or "I believe it is". Obviously I have read the manual otherwise I wouldn't know with 100% certainty, would I? Perhaps if you pay more attention in future you'll avoid these types of misunderstandings.
@MT4Coder,

Let me just clarify something here, the strategy does not involve position doubling every time a loss is made, every fraction is protected with the same interest, which means there is no loss multiplication as a result there is no risk of going bust, but you still say with 100% certainty that it's martingale.

All i can say, either you don't know what martingale is or you never red the course. If this is first case scenario, here are two links, might be useful:
http://www.investopedia.com/terms/m/...galesystem.asp
http://en.wikipedia.org/wiki/Martingale_(betting_system)

For me it's quite simple, it does not matter how you call the strategy, what matters to me is that it works. but in this case I can no longer follow this misleading debate.
  • #17
  • Oct 7, 2013 5:30am Oct 7, 2013 5:30am
Clearly it is you VTtrader that has no understanding, the fact that you mention "doubling" indicates this. I did not state that proforexcourse features exponential expansion (e.g. doubling) of the trade size. I said a martingale is any system that requires an "increase" in trade size to cover losses. A martingale doesn't require doubling, that's just a feature of some martingale systems. Perhaps you require further education on the matter.

The proforexcourse works like this (and if proforexcourse thinks this is a violation of copyright or any other such nonsense, they should google "Sure Fire Hedging EA" which is pretty much identical and no doubt where they got the idea):

Place a pending buy above price and a pending sell below, 1 lot EURUSD. Price goes up, hits the buy. Now change order size on the pending sell to 2 lots. Price goes down, hits the sell. Floating loss=-$100 (assuming 10 pips between the pending buy and sell intially). Now re-open the pending buy order at same price as before for 2 lots. Price goes up, hits the pending buy. Floating loss=-$200. Now re-open the pending sell order at same price as before, 2 lots. Price goes down, hits the pending sell, floating loss=-$300. Each time this happens the floating loss increases by $100. As you can see, your comment about "no loss multiplication" indicates a complete lack of understanding of the strategy. It gets worse though. Because of the increasing floating loss, the break-even point (never mind the 10 pip profit target point) gets further and further away, which is why it is recommended in the course to dig yourself an even deeper hole by pyramiding once the breakout of the channel occurs...

Now on a $10k account, it only takes 20 if these bounces within the channel to reach a floating loss of $2k, a 20% drawdown with no guarantee there won't be 30 or 40 bounces. Even though this is unlikely, as I mentioned previously the fat tails on the bell curve which are a feature of modern financial markets mean that it is more likely to happen than most would expect. In fact, the only way to be sure of a profit is to have unlimited funds available, again a classic indication of a martingale. Maybe now it's clear why the proforexcourse author only recommends trading once a day. The more you trade the quicker you'll hit the fat tail.

I have no interest in continuing this "debate" (as you call it) with you either VTtrader, as far as I'm concerned it's not a debate at all, you're clearly wrong and I'm just trying to save other people from spending $2.5k on a martingale system. If you're so sure it works, why are there no live trade results posted on their website? Or a myfxbook account?

Good luck with your trading VTtrader, I get the feeling you're going to need it.
  • #18
  • Oct 7, 2013 12:11pm Oct 7, 2013 12:11pm
Quoting MT4Coder
Clearly it is you VTtrader that has no understanding, the fact that you mention "doubling" indicates this. I did not state that proforexcourse features exponential expansion (e.g. doubling) of the trade size. I said a martingale is any system that requires an "increase" in trade size to cover losses. A martingale doesn't require doubling, that's just a feature of some martingale systems. Perhaps you require further education on the matter. The proforexcourse works like this (and if proforexcourse thinks this is a violation of copyright or any...
MT4Coder,
Let's start with basics, Martingale does not come from Forex, but from a simple coin-flipping betting, where a gambler doubles his bet after every loss. In the modern world, this strategy was applied to a roulette in a casino.

In gambling world there is one more so-called betting strategy that is counting cards in Black Jack. Where you keep placing small bets until high concentration of aces and 10s in the deck, and then you increase the bets as you have a great advantage over the casino.

Can you spot the difference?
I'm not saying that ProForexcourse is the best strategy in the world, but it works just like counting cards in Black Jack, only counting cards is forbidden while with Forex trading is not.

After you started comparing ProForexCourse with Sure Fire Hedging EA, for me it became clear that you have not read the book, because these are completely different strategies.

Sure Fire Hedging EA is martingale, no doubt.
ProForexCourse is similar to counting cards in Forex.

Only because you think you have figured out the strategy, doesn't mean you have. What you wrote here about placing the orders is obvious to everyone who have seen those videos of Brooks. And in that explanation it is obvious that you don't have the understanding of the rest of the startegy.

I have been gambling for many years. I sure have won a lot, but lost much more. In casino there is one pretty sure thing how to win - by counting cards. And as a gambler, I can say for 95% sure that they took the idea of this strategy from counting the cards.
  • #19
  • Oct 13, 2013 1:04pm Oct 13, 2013 1:04pm
No, let's dispense with the basics, I think it's pretty obvious by now which one of us needs a lesson. It makes no difference where the martingale system came from, that's completely irrelevant.

Like I said, a martingale system is any that requires an increase in trade size (or bet size if you insist on this terminology) to cover losses. That's it. Simple. You don't have to double to cover a loss, you can partially cover losses and it's still a martingale.

Counting cards in blackjack has absolutely NOTHING to do with Forex or proforexcourse. Card counting works by giving you a statistical edge. It does not require any increase in bet size to cover losses, only an increase in bet size when the odds are in your favour. Proforexcourse has nothing in common with this - it does not in any way offer a statistical edge.

The Sure Fire Hedging EA works almost EXACTLY the same way as proforexcouse. Both involve placing pending orders above and below current price with an increase in trade size if one of the legs loses. If you don't understand this, then you are clearly the one who lacks an understanding of both strategies.

With regard to the Brooks videos, it is NOT obvious at all that any pyramiding (averaging up, or "additional positions" as they are called in the course) is involved as he doesn't do it. Still think I haven't read the course?

I've explained previously why this strategy is so dangerous and clearly explained how it *is* a margingale system, and yet you keep trying to convince anyone reading this that it isn't. Obviously this is because you do not understand the strategy and are no doubt the target demographic for companies like proforexcourse...

I'll let the readers of this thread decide who they think is the most credible, I've said I'll I wanted to say.
  • #20
  • Oct 14, 2013 3:05pm Oct 14, 2013 3:05pm
Quoting MT4Coder
No, let's dispense with the basics, I think it's pretty obvious by now which one of us needs a lesson. It makes no difference where the martingale system came from, that's completely irrelevant. Like I said, a martingale system is any that requires an increase in trade size (or bet size if you insist on this terminology) to cover losses. That's it. Simple. You don't have to double to cover a loss, you can partially cover losses and it's still a martingale. Counting cards in blackjack has absolutely NOTHING to do with Forex or proforexcourse. Card...
MT4Coder,
So any trading strategy that requires an increase in trading size is a martingale system, in your opinion. However, counting cards is NOT martingale, despite the fact that it requires an increase in trade size to cover that loss that is made until the odds are in your favor.

The only thing that you described makes counting cards NOT martingale is that you increase trade size only when the odds are in your favor. This makes ProForexCourse NOT martingale. If you had read the course you would know that.

The thing is that you have very limited information. Yes, you have probably seen the videos and read the presentation, that's great, but you lack the whole picture as you don't know 70% of the rest as you have never read the course. One thing I can't understand, why are you trying to convince me that you have.
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