was browsing around and saw this and thought it was pretty funny and kind of applied since furus claiming to be awesome but not showing results was brought up(no one in particular) {image}
{quote} You obviously did not read the whole tread...its set up to protect rookies from false pretenses..JUST READ THE TREAD B4 YOU COMMENT
Forex is full of BS and scams (unfortunately) and similarly to pj9999 I kind'a feel obliged to warn people to avoid pitfalls. Although I don't care about anybody else's financial freedom (as stated above), I do care about warning people about misleading strategies, so they don't lose their monies relying on false or incomplete strategies, and more importantly they don't lose precious time trying to figure out and learn BS.
I gave it a month to test out this system and from my own evaluation, it appeared clear that this wasn't worth continuing. I have noting against Udine but the problem with this thread is that, at certain point, it became a contest of showing off fake results from a few who seemed to come to FF to feel special. If any of you had actively monitored the thread at least two weeks, you should have noticed this unless you are blind.... It is not hard to figure out what they are doing when you are having several losses and they are posting like bonus trades...
How do become .....
... and feel better !
- #68
- Aug 7, 2014 4:09pm Aug 7, 2014 4:09pm
- | Membership Revoked | Joined Aug 2012 | 5,371 Posts
Tomorrow's trade: buy NZD/USD USD has shown significant fundimental aggression over the NZD recently but the fundimentals are still more bullish on the NZD.. A swift sell of has pushed price to a solid level & buying at this level will be attractive to the big banks as they move more money in at this level. Price will gain for the next week or so..
- #69
- Aug 7, 2014 4:12pm Aug 7, 2014 4:12pm
- | Joined Dec 2006 | Status: Trader | 1,104 Posts
{quote}
trading on demo is not trading
{quote} Newbies will lose there money no matter what. Its the name of the game. They will move from system to system until they find something that works. you cant save everyone. I could care less about Udine and his trading strategy. It might work for him and not for you. Just move on
I traded the strategy with mixed success and failure because of my inability to discriminate as well as poor broker spreads. I back-tested it with GREAT SUCCESS using the simulator during periods of higher volatility... its August, the markets are moving slowly and minimally.
WHAT I WILL TAKE AWAY FOREVER from the forum was Udine's advice on trading: Patiance, Discipline, Focus and Belief Confidence, and Consistency.
Go to Baby Pips and complete the school at least twice.
Then trade on a demo testing all sorts of strategies
Find one that works for your personality
Double your demo account
Trade live and win.
Whats so bad about that?
Remember that guy who gave up? Neither does anyone else.
Surprise surprise...... another, newbie i lost my ass because i dont know how to trade and its your fault thread! I always love these...Sounds like some needs a
Actually it gives a false and counterproductive message, namely that rules are there to break them to become profitable.
- #79
- Aug 7, 2014 7:56pm Aug 7, 2014 7:56pm
{quote}
This noble idea of saving others from so called false strategies is a really weak argument. In no way does the 00 system cost anything. From the word doc Udine posted, he takes credit for NOTHING! Also, what is unclear about this extract?
"First demo, until you have consistency, then go live, but with a small account (why risk a big amount, when you can grow your account simply by compounding). "
If in the demo period you decide it is useless, then you have lost nothing right?
And as for wasting peoples precious time, that is simply ridiculous. As Sagramor said:
"WHAT I WILL TAKE AWAY FOREVER from the forum was Udine's advice on trading: Patiance, Discipline, Focus and Belief Confidence, and Consistency."
There is always something to be learned from a trading idea. Sure, some can learn quickly that it wont work for them, but I have sat in countless webinars, watched videos, and read reports from people with a variety of strategies. I have never applied those strategies to real trading, but was the time wasted? No, because in many cases, there is some small snippet of useful information, or an idea, that i can apply to my own trading. We have to have an open mind, but sure, have a filter too. Blindly following anyone, then blaming that person/system for your failure is ridiculous, particularly given that in around 20 minutes of reading Udines thread, you can see discretion is an aspect. If you don't like it, then move on. 20 minutes is not a lot of time "wasted."
Any time people, especially newbies, spend in front of the charts, observing the behaviour of PA in specific pairs can never be thought of as wasted. And seeing as Udines discretionary approach is related to PA, surely it's worth a look to see how he filters. I can say in most cases i can see why he did/ didn't take a trade, and it is consistent.
Frankly, what is a waste of time for anyone is to be sent a link to a myfxbook account, where we won't see any trade logs. Even if you were selling something, at least then there would be some point to going over to check it out! Yet you criticize Udine for being ambiguous?! Come on.
I congratulate you on being profitable, but i will say this...the 10% gain you have posted in the last 2 trading months is far away from the 555% you seem to have over the year. It seems you should be averaging more than 45% monthly to reach such a fantastic performance? So would you say then, that the last 2 months have not been the best trading conditions? Would it not make sense then for 00 traders to be having a tough time too?! Particularly those who are bending the rules or making mistakes? Is that the sign of a failed system?
In fact since i started live trading 00 method in mid June, i am +6%. And i don't even risk the 2% Udine does, i only risk 1%. And i am still clumsy in regards to my entries, making mistakes.
So, considering i have outperformed the chart you posted in the last 2 months, how can you say absolutely that people should not trade 00?
Look i am not a disciple as was put. I don't post my daily charts, nor ask endless questions on the thread. I see merit in the idea, i am profitable and i will continue to use it. That's my choice, as is the same for those who do not want to pursue it.
This thread does nothing to help traders avoid scams. This thread seems more like a rant from people who did not like, or could not apply the system.
There is no scam in Udines thread. He is simply sharing an idea, that we are free to use or ignore.
Guru and pj9999, your approach has offered no solutions. Neither of you has offered any of your own ideas as far as i can see? In the case of Guru, if you have a verified annual return of 555% then you could have something to offer newbies. Instead of protecting them from wastes of time, why not help them? But you don't. In fact you go to lengths to hide your trades, and ensure no reverse engineering of your strategy. Why should this bother you?! Especially if you don't care about other peoples financial future? And if you are not selling anything?
It is just hypocritical.
As you put it, there are many scams out there in Forex, but a guy sharing an idea, asking for nothing and even providing support to the members on the thread is a very strange scam!
Personally i don't care to see his myfxbook account. It will not help me make one single pip more in my trading. If i can't apply his, or anyone else's system, then i don't care what they do.
Also worth noting, that it IS possible to fake a myfxbook account....just saying.
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Wealth comes from what you keep, not what you earn
