I'm trading this strategy on a demo and I have to say I'm impressed. with a few tweaks it becomes a very profitable strategy. off course it's been only a few days and we have to consider the long run.
to me it's working well during the asia session, when the market move is very tight, set take profit to less than 10 (I use 6). and have a little common sense, it's a scalper strategy, don't use it when market is on a strong trend.
The guys behind Robin Hood are just system /product developers who give and sell ways of trading that in themselves are only part of the picture for consistent profits. You will have as many winners as losers in the long run and end up frustrated and champing at the bit to buy the next system they bring out that will hopefully be the holy grail. It is just marketing to keep you on the hook and keep spending cash.
Their latest promotion of the FXsupremo signals, (buy it through their affiliate link and get a free trade replicator that places the signaled trades for you automatically on your platform) is not to be trusted. the signals are ok but if you need the replicator software to place the trade for you as promised by The guys at Robin hood, it doesn't work and he does not return any e-mails. The worst of the worst in my book. I need the replicator as I live in Australia and sleep during active market times. I will try to get my money back from the signals vendor (let's see if he has more of a conscience than Robin Hood). (Didn't Robin Hood only steal from the rich??). This man is a blight on Robins' good name.
Very disappointed in the systems Daniel Malaby has sent to me. I sent three emails and have received no response back which makes me believe that the customer support is absolute terrible. I don't recommend his systems.
Just like anything else "you gets what you pay for". I know this one's free and it seems to have a lot of potential but personally haven't had a lot of luck with it. What this gentleman seems to do is give you an interesting way to trade for free, which may or may not work, and then keep sending you a lot of info on every new system that comes out. I think more of a reseller than an actual trader. I urge caution with this one. The way I look at it is that NO ONE is going to give away a really good, working system for free because usually they take a huge amount of time and effort to perfect. These people deserve at least a little money for their effort. If you've tried this system and it actually works for you, I think that's great! Doesn't for me. See how it does over the long run and if you make a profit at the end of the year. The people making money with it may have gotten lucky in the short term Only time will tell. All the best to all of you.
i'm new trader and i try the robbinhood system and i have to say that is very very profitable becuase the result maybe is 6-7 wins in 10 trades but you have to find another way for the exit rules..if you find it there is no day with loss..believe me this system gives about 300-500 pips each week profit....focus ...
Got quite a few emails from RobinHood and have coded and tested their so called systems in Tradestation. The results are terrible. When I emailed the results back with my opinion that the systems would hurt people and to check out the equity curve their response was 'this is intended as a manual system, the user has to determine when to apply but this can be profitable'. What use is a system if it takes stacks of discretion as to when to trade it? Useless
I have used this system but only on demo acct for about the last 2 months. I'm a new trader just learning and this system has given me 8 out 10 wins every time I use it. And it's free so it doesn't hurt to try it out.
I have tried this system for a few days now. Only works on the EURGBP (as the system states), and uses two stochastics, one set at 120 and one at 15. You enter a buy/sell at a specific reading on the slow stoch, confirmed by a corresponding reading on the fast one, and exit when the fast stoch reaches another reading. I found that it was a very mixed bag - as many losing trades as winners. And even the winners often went well negative before returnng (just) to the positive before the slow Stochastic told you to exit, while leaving the bulk of the available pips on the table. I am not saying it does not work, but the results (for me) have not made me switch from the other systems I use.