Since I joined over 3 months ago, the win ratio has dropped to 50%, and the system has lost money, including fees. Like another review says, the losers are bigger than the winners, and the trades go against the trend, when sometimes the trend is unstoppable. With such trade management, each entry has to be spot-on, to keep the high win ratio. The lateest trade, the vendor just entered too soon (short ER2 at open at 688), and then held on (despite going 5 points into profit at one stage) without even moving the stop. Eventually the ER2 uptrend resumed, and we got swept away, again for a bigger loss than any of the winners we've had.
It's a shame because this systems has done so well previously, is so highly regarded, and when the vendor gets it right, it's a pleasure to watch.
Boffo starts out with a specific & ambitious goal of $3k DAILY - then sets out to get it, whatever it takes. With his can-do attitude he starts early & stays late in the evening, if needed. If he fails you know he did his best, & chances are next day he will make up the difference. So this system is really a talented & hard-working trader. You must autotrade it, & you must trust HIM to deliver day-in-&-day-out.
Well, we are all fallible, & his bad day at the office can be costly. With many open positions, everyday he wins & loses MUCH more than $3k to reach this net goal. In an inevitable bad day, I fear the balance can tilt to the red fast. I wish he would then take the day off – that will be hard for him, but better for everybody. Lowering the goal would make all happier, & safer too.
The views of the reviewer on 17 July 2008 mirror my thoughts almost completely. I'd rate it higher simply because of it's performance and track record relative to other systems. Adjusting methods during drawdown is always concerning for me, too. I'd suggest anyone considering this sytem shoul Auto-trade it.
The system looks good on paper, but it is almost impossible to trade in reality (unless you autotrade). Many signals are entered late in the evening US time (in the middle of the night in Europe), making it hard to manually follow the system. The vendor enters stops and take profit limits with every trade, but then frequently changes them, often at the last minute when the price nears the stop level or the trade is re-entered immediately after having been stopped out. This has led to me being stopped out in my own trading on several occasions, only to find that the official system record is still in the trade. More worryingly, the reaction of the vendor to the recent drawdown was to announce changes to the system in order to "make back" the losses.
This system is overrated , take a day like today Friday July 11, 08 there is a major sell off on the gbp-jpy and a rally on the gbp-usd and yet this system issues no trade , and these are its major trading pairs. This was the same event over the last piror 2 weeks, after a major move it enter the market against the trend after the large move which lead to what you see now over 300 pip D/D. During this month Non Farm Payroll it kept 2 trades open which lose (Class 1 news release). WE all know that brokers will gap your stop and yet because the trades where in a lose before the release they just left it open and "Hoped and Prayed" unless you are a member you would not know their style of trading when they leave the trades open, It was the same event during UK retail sales both class 1 news.
The problem with this trader, on both his systems, is that he lets losers grow bigger than winners. That's worked fine with his very impressive win/lose ratio on Have Fun, but will it work here? After a month trading this, I'm slightly down, mostly to just a couple of big losing trades.
The other issue is that, similar to Have Fun, some trades appear risky, as a Have Fun reviewer said. Actually maybe risky isn't the right description; I've noticed the trades are excellent technical setups, but what sometimes seems missing is an appreciation of market sentiment and news, etc, leading to trades that are a bit TOO counter-trend.
Having said that, there's still the very impressive win ratio, on both this system, and especially Have Fun.
This trader has done a great job in the month or so that I have been subscribing, far outperforming all other systems I have used recently. As another reviewer said, good discipline, limits, stops - and most of all consistent. HIGHLY recommended.
Vendor doesn't use stops to control risk and lets losses run in hope that the long-term trend will eventually be resumed. This strategy worked great for him in the beginning, but with the recent choppy markets it went all bust. Lost about 80% of my account in the past few days. Stay away.
Excellent system. Disciplined trader uses stops and limits to control trades. Win ratio is low but gains are consistent due to disciplined strategy. Highly recommended.
Since May 20th, this system has lost US$ 3,458. For a 10K account, that is 35% drawdown. I am not sure what to believe, the good past or the bad present. For the moment I will stay at the sidelines.
I have unsubscribed. I could not get it to work with IB and Trade bullet: was stuck with CHF and had to get out manually loosing a lot of money in process. I did not like trading style with a lot of conditional entries and cancellations. I do not have confidence in this system and set up is not working for me.
I have known the vendor for some time now and know the amount of thought and effort that has gone into MVP over the years. I feel confident that MVP will continue to significantly outperform in the future. Sure there will be some losing trades but after having been trading MVP for six or seven months my two regrets are (a) that I did not subscribe earlier and (b) that (once bitten twice shy by other systems) I did not allocate more funds when I started trading it. Good job.
The trader tries to do a good job catching counter trends, and while the profitable trades to loses is exceptional over a 12 month period, the risk to reward seems (or at this time of this review) to be out of skew which may be as a result is showing more frequent losses in recent months plus the change in market dynamics in recent months as well might be posing an issue - not sure.
I agree with the other reviews in April and May 08. Glad I got out mid April. MDD 60.5% now. Subscribed for 1 month and lost $6K. Learned a lesson. This vendor insists on being right with his "insightful" commentaries, regardless of market direction, at subscribers' expense. Oversized positions, averaging down and adding to losers. Among the worst Sharpe and Sortino ratios I've seen.
Mostly OK system. Have a few reservations though - too slow to recognise a change in the macro picture (persisted with shorts when clearly game had changed to range trading), also - slippage in reality is much worse than posted on C2 - BEWARE!!
Since this is beat-up Main QQQQ month, I'll gladly pile on in support of the May 6 reviewer who said "shame on me for subscribing." I also subscribed right at the peak, lost $600 and 1-month subscription money, and also blame myself only for putting my neck in the noose once again. But I'm not so much blaming Main QQQQ as the entire C2 company. As long as "vendors" don't have to verify their broker's statements, you'll get exactly what happens here. Paper trading certainly emboldens a C2 "vendor" to do anything he/she wants, doesn't it? I don't care how loudly the "vendor" claims he's using his real money - if it isn't verified, it isn't verified. End of story. The only real money is the subscriber's. Subscribe here at your own risk, folks.
Don't blame the system for its breakdown; blame me for subscribing. I bought at its peak, and just like every other system I've tried, it collapses when I start using it. I never achieve prospectively the success that a system purports when I start. Makes me wonder...
The problem with this method is that the developer consistently over trades his equity. If he would enter an appropriate number of contracts for the size of his equity and keep it consistent as the equity grows he could add contracts and he would have something that could be traded. 50% drawdowns are unrealistic as is doubling up to catch up and continually adding to a losing position. His won/loss ratio is okay, but money management is poor.
