I'm a massive fan of the london close method. Also, the fact that its a product of forexmentor, means that its got credibility.
Are you using the slingshot AND the london close in your daily trading routine?
What is is the slingshot based upon?
My aim is to trade full time... who knows...
Ignored
Yes I use both.
The Slingshot uses momentum to enter a trade in the direction of the market flow. Entries are based on overbought/sold conditions using two Stochastic screens in conjunction with Bollinger Bands and two EMA's.
Recently, another variation of the Slingshot which is called MOF (Money On the Floor) is being discussed in length as an early entry at the beginning of a reversal in the market flow (another of Kelvin's techniques).
The Slingshot and MOF techniques aren't complicated at all but extremely accurate once you get a firm handle on them, granted you are proficient in identifying S/R levels, etc. Also you're not risking more than 15-20 pips which makes for a damn good R/R.
Kelvin is an absolute master at these and shares his trades and recent modifications to his systems regularly on the Coach's Corner.
But as I'm sure you know, the best systems in the world aren't worth diddly squat if you don't have the right mindset needed to trade effectively. This factor is also addressed in practically every session.
If you're a tightwad like me and want the best bang for your buck, joining the Coach's Corner is the way to go. Practically all of these successful traders (Shirley, Kelvin, etc.) that are guests of the Coach's Corner, started out as members which really says a lot about the effectiveness of Vic's coaching.
I am still trying to master the LC method. Will definately take onboard your advise and invest the $150 or so and learn the slingshot/MOF in time (probably next year). Do you know if there is some material available online about these other methods? Anything to save that $150 or so.
I just hope these strategies are immune to market changes. Knowing my luck, just when i become settled with one strategy, the market changes and that method becomes useless!
I take it you bought the course. Is that correct or are you just using info you've found here and elsewhere? Also, are you a subscriber to the Daily Update Service? If not, then you definitely should be. It's invaluable! Plus you get access to the master herself, Shirley, who will reply almost immediately (or at least it seems so) to any questions you have and reply in length.
Do you know if there is some material available online about these other methods?
Ignored
There's a ton of stuff out there titled "Slingshot" and even a few "MOF" but from what I've seen they're all totally different than what is taught in the CC sessions. The closest thing I've found to the Slingshot taught in CC is located here in FF http://www.google.com/url?sa=t&rct=j...o9ja93RCOrrwpA
But close only counts in horseshoes, hand grenades and nuclear weapons and the system shown in this link is a far cry from what is taught.
One of the many little bits of advice given in the sessions that can make a WORLD OF DIFFERENCE in your success as a trader and that many of those that have actually made it in this market can attest to is this:
Stick to one system. Make it your own. Learn it top to bottom. Make at least 20 trades MINIMUM! Use a live account (no demo's) with extremely small lot sizes. Keep the number of pairs you trade to a few or just one.
With that in mind, I'd suggest not venturing off into Slingshots, etc., at this point but stick with the LCT's. They're extremely profitable, low risk trades that once mastered, can be expanded and tweaked to provide trading opportunities beyond the LCT time window.
Here's an interview of a lady in South Africa that has used the system and learned it quite well that may be of interest to you.
I just hope these strategies are immune to market changes. Knowing my luck, just when i become settled with one strategy, the market changes and that method becomes useless!
Ignored
Unless the big time traders in the UK, etc., decide they don't want to go home at night and their counterparts in the U.S. don't want a lunch break, I don't see this system becoming useless. But even if they did, the technical aspects taught are applicable at any time of day, just more reliable during that time frame.
I've been around the block a few times when it comes to mentors and systems and spent thousands of dollars on them over the past three and a half years. I learned a lot from fellow FFers like Merlin and friends, tried Winner's Edge, been with Currencee since it's inception (almost), got 100's of thousands of gigs worth of instructional videos but I'm telling you, if you're absolutely serious about becoming a successful trader, there's no better place (that I have found) than CC.
Sure you can, as suggested by a poster on the previous page, spend thousands of hours searching the Internet till your eyeballs fall out looking for free stuff. Not me (anymore). I found everything I need in one place and for dirt cheap!!
Hello Captmilkdud,
I see you are a fan of Kelvin Thornley/VicNoble's TacticalFX Trend strategy, which I 've been looking at as a potential purchase. I'm sort of reluctant to ask these product questions on FF because so many see it as sneaky marketing. Anyway, I'm interested in the system because it seems based on sound principles and it looks fairly simple to comprehend and trade (simple is what I need). So my questions are, do you still actively trade this sysem? has it held up over time and been successful for you? is it as simple as it seems and is it fully realized or does it turn into a subjective reading of price and indicators?
I'd be happy to correspond through pm (though I can't yet intitiate pm's) or email on this if preferred. Or if you'd rather not do anymore endorsing I understand.
Thanks
Concerning the Daily Updates for the LCT system. The price has been reduced to $27.00 a month. At $47.00 it was very reasonable. Now it's a real bargain. Also I've found that Shirley will answer your emails, should you have any questions or comments, either the same day or the next. Considering how busy she must be with the updates, trading, being a Realtor, a grandmother and wife is absolutely amazing! I've tried several other courses recently from this service (Forexmentor.com) in hopes of adding additional techniques for trading longer term setups....
The London Close Trade Strategy actually works very well and the rules were not changed since day 1. Do you due diligence before you post crap here. Shirley even answered my questions about it. Incredible value and a track record to prove it.
Ok, Dave. I took you up on your "due diligence" suggestion and feel even more skeptical after spending time looking for answers about Shirley Hudson's LCT course.
I can find NO one who has seen any actual verification of Shirley's account growth. The Excel spreadsheet is self made and worthless.
Two people from Coaches Corner told me Shirley in her own words traded "chickenpips" using micro's and minis for most of the LCT history. They also told me Shirley and Vic have repeatedly refused to use software on Shirley's trading account that would verify her trades/results; and that they refuse to show verifiable results.
Lastly, was this course a good value for those who took it? How many are making consistent money using the LCT? Is it 100 or more . .that would be 10% of those taking the course. I heard there are a few traders making money, but just a few of the hundreds and hundreds paying for the program. Even Simit Patel http://www.informedtrades.com/778521...trade-log.html who was initially enthused about LCT and said he would post results of trading an $800 account just stopped posting after a short time. Guess it didn't work for him.
I am seeing hundreds and hundreds of other hustles out there. How does anyone get away with posting a 90% success rate without showing a broker's statement or other form of indepent accounting. If you know of proof of Shirley's results; or proof of training success i.e. how many profitable and consistent traders using LCT, please post.
it is impossible for it to work that well with all the quants around. they would have found the anomaly and arb'd it out. logic dictates that its snake oil dudley....snake oil...its a shame grandmothers are in it to!
Ignored
No, it's a shame if someone takes your opinion, based on ignorance, to heart and passes up on one of the few systems out there that works consistently and is taught by a genuinely good person who designed and trades it. I'm positive that anyone who is/was a serious student of her's would laugh at what you wrote.
Dear Mr. made2trade
I've read the few posts you've contributed to FF and you seem to be an intelligent individual and no novice to trading, so I respect your opinion. I know if you were to actual go through the course, join the Daily Update service and email with her, you wouldn't doubt her spreadsheets.
As a student, I traded the same trades as she did and saw these same trades on her spreadsheet much later in time while in a Coach's Corner webinar. That alone would have been proof enough for me that the rest of the trades listed were actually taken, if I was skeptical. Once you get to know her, there wouldn't be any doubt what she says is fact. She's an incredible trader and it's always stated by Vic not to expect to replicate her results. But you don't need to in order to be profitable.
As far as how many traders took her course and became profitable traders goes, I'm one and I know of several others that had written into the Coach's Corner implying the same. But I don't recall any showing of hands among our group as to who was profitable and who wasn't, besides that, the venue being the CC wasn't just about LCT's but RFP's, Slingshots, MOF's, etc.
The reason I'm writing this is, referring to Shirley Hudson as a hustler is absolutely ridiculous. Having a 90% success rate is not unheard of. And to imply someone is a crook because they don't feel the need to prove themselves to anyone, I think is a bit immature and naive.
Thank you for replying. You write like a loyal friend, not just customer, of Shirley Hudson. Would that be true?
You use the word CROOK. Interesting.
If Shirley Hudson was just selling a course without boasting 90% stats, you wouldn't be hearing from me or all the others who object to the boast without the proof of the 90% win rate. Why not be transparent and honest, not boastful.
Would hope you are willing to provide your own proof of any successs with trading just the LCT and the time period you have been consistent with it. Hopefully we can hear from many, many successful LCT traders. I don't think anyone would be impressed by a program that sells to 1000 traders and only gets success from less than 10%. That would be worse than the overall Forex failure rate!
Boast or fact that Shirley Hudson has 90% win rate for an extended period counting each and every trade made? I have heard that she lumps "mitigated" trades together as an enhancement to her performance.
After Bernie Madoff we cannot afford to be naive. Trust with INDEPENDENT unbiased verification.
I am hoping for for the sake of the 1000plus traders who spent hundreds of dollars on Shirley Hudson's program that she has verifiable results and made more money trading than Forexmentor did selling her program.
