Well well well. Sorry for it taking so long for me to post again. I’ve been even busier than usual. I have recently purchased a copy of Vince Stanziones’ trading system and I have been working through it with the overall aim to adding my review to the site and allowing others to add reviews as well. I have to say I was wondering what it was going to be like with the £197 price tag and so far I’ve been actually quite impressed. He certainly likes to keep things simple and the strategies that he suggest to use echo the ‘KISS’ philosophy.
NEW* You can now read my review of Vince Stanziones Spread Trading System
Self made millionaire Vince Stanzione has produced a home study course to help you learn how to trade spread bets. For more information or to get your FREE Copy of “10 Top Trading Tips The Professionals Don’t Tell” visit Vinces Web site |
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I can certainly see why most people deem what he is selling as a SCAM as when you actually break down what you get there is no reason with time and effort you can not teach yourself all the same things. The thing is Vince brings something else to the table. Something which you cannot teach yourself and that is his own experience of trading. I’ve been trading for two years now and the last year has been a really steep learning curve for me. I had a mad 6 months at the start of last year and if I’d carried on I could’ve easily been out of the game and spread betting beginner would be no more. Fortunately I gave myself a good kick up the back side and I am still in the game. The biggest lesson I leant is self discipline. If you read back through my blog archive I think it becomes more and more evident that the control I have over my own emotions and my trading has improved dramatically. This self control and following the rules is something that Vince stresses throughout the course material and on the DVD.
I can see why some people would probably purchase this and feel they have been cheated. It is very simple and you probably will think I could’ve taught myself that. The strategies that he suggests to use are really straightforward and easily programmable into a proRealTime screener. Vince suggests using sharescope but personally I see no extra benefit from paying £16 per month when I can get virtually the same for free. I’m sure sharescope has more functionality than proRealTime but for what I need it for proRealTime does the trick.
Just so you know this is not my review of his system, so keep checking back for this over the coming weeks. I think I will do a series of pages breaking it down piece by piece and reviewing it a bit at a time. I’ll keep you informed via my blog entries when the reviews are ready to read.
Onto the trading. Well no new trades today. Just raising stops on open positions. It’s funny because I have been looking in more detail at some of the strategies Vince suggests in his course and there is one that get’s you in at similar times as my super trend cross over strategy. It also keeps you in the trade longer which is sometimes a good thing and sometimes a bad thing.
I ran some quick figures based on my super trend strategy over the last few months. I assumed that all the open positions I have closed out at there stop price so the figures are not entirely accurate and equally not that impressive. I have 6 position still open, each of which could still make more profit. Bear this in mind when you read through my summary.
I’ve made 23 Super trend trades in total.
13 winners
10 Losers
Made £79
Lost £45
Biggest Win £23.96
Biggest Loss £10
The thing is I’ve realised these figures are a very un reliable source of how profitable the strategy actually is. I’ve not really stuck to my 1% risk religiously. Never more but sometimes less. For instance The biggest win trade I only risked £5 so I should’ve gone £2 per point. If I had my biggest win would read £47.92 and my overall profit would be bigger.
To summarise, I think my super trend strategy is a profitable one and does give me an edge. From now on I need to position size appropriately (not just £1 per point) and give it 6 months and then re-asses the strategy.
Considering I didn’t think I had much to write about today I think I did pretty well don’t you.
Off the lip thanks for taking the time to run the back tests on the new strategy and providing me with some excellent analysis of the results. I aim to get them added to the site as soon as I can and will let everyone know in a subsequent blog entry.
Until next time,
“May the markets be with you!”
Harry,
The Spread Betting Beginner
Hi Harry,
has off the lip published the backtesting results to the forum?
I also figured out that you need to size your position correctly in order to maximise profits. Sometimes its just not ever going to give you the reward:risk ratio you require betting £1 per point. Took me a few months to realise too!
The results for the back testing are not on the forum. I’ll either publish them to the forum or I’ll create a new page for them. Haven’t decided which yet. Either way when I get time to add them I’ll post on the forum with a link and add a link in a blog enrty too.