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80% Wins / Hedge Hog / Gordon Philips / Wealth Science Institute

Discussion in 'Has anyone heard of?' started by infer, Sep 7, 2011.

  1. infer

    infer Recruit

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    This guys is selling a method for $300. He offers no refund.

    It seems it's either really good or a complete scam.

    Method description: He basically picks a price point and then goes both long and short at the same price. He has a profit target of X for both trades and a stoploss of 3X for both trades. Then basically, either both sides win or one wins and one loses. In either case the win (or loss) is 2X. Then it becomes obvious that the method is about achieving a high win % since the win and loss amounts are fixed and equal to each other. It's also obvious that the method scores wins when the price whipsaws around with taking off strongly in either direction. I think the meat of his method is in finding price points where price is likely to whipsaw.

    I don't have the course; this is my observations from thoroughly studying his sales material at:

    https://sites.google.com/site/wealthweekend/

    Has anyone tried this guy's method? What do you guys think?
     
  2. Pharaoh

    Pharaoh Colonel

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    Sounds like you have enough info to do a forward test on demo without spending $300.

    I tried a similar system with a SL twice the TP once. It involved pending trades placed at a specific time of day. As for the results, let's just say I was very glad I tried it on demo first.
     
  3. infer

    infer Recruit

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    Well, no, because we don't have his entries and the entries are crucial to achieving a high hit rate.
     
  4. Pharaoh

    Pharaoh Colonel

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    Ask the seller for investor access to a live account that traded the system for the last few months. I'll bet that he won't provide it.
     
  5. Black Bird

    Black Bird Corporal

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    Sounds like a smart method but as you said you have to achieve over 50% of winning trades to profit. It is said that the most successful traders have more loses than wins. In other words they cut their loses short and let their wins run.

    What if you set the sl 2X and the tp 1X?? The probabilities then are: 1Xsl or 2Xtp. In this case we only need over 33% success to profit, but then again, the sl is more likely to get hit as it's going to be closer and, therefore, even 33% may not be achievable.

    However, we can always tried it out on our Demo. ;)
     
  6. infer

    infer Recruit

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    Yea 2X can be tested too. However there's nothing to try out without specific entry rules. If the entries are objective then even no need for a demo account, just code and run EA backtest.
     
  7. infer

    infer Recruit

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    He ignored my email. Anyone else wanna try? tradergordon@gmail.com
     
  8. RahmanSL

    RahmanSL Major

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    The idea is very basic and logical.

    Open 2 trades simultaneously...1 for Buy & 1 for Sell.
    Pre-set SL for both at...say...30 pips and TP at 40 pips.

    When market goes in one direction, it will close out the other losing position at 30 pips. You then have to decide whether to ride the wining position to the full 30 pips (or more) or to close out the position as soon as it goes pass the 30 pips profit (to cancel out the loss on the other position).

    However, market being what it is can never be so predictable nor cooperative and will more than likely reverse as soon as the SL on that losing position has been hit leaving more losses than gain on the wining position.

    I did a LIVE experiment with a somewhat similar strategy, but using a control position with the highest price of a currencies pair.
    I took the trouble to write that down (when it was still fresh in my mind) but have not tried that again since (nor re-read what I wrote down) after I blew that account with some very stupid & greedy trades. I did made 300-500% in one trading session, but it is very stressful and demands full attention...which is not easy since there is very little time for sleep.

    For those interested, I have that in EXCEL file...
     
  9. Black Bird

    Black Bird Corporal

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    I meant try it out using our own judgement. I don't think this guy is going to show any entries that we can't see ourselves!! One way to work out the entry is to find a support or resistance level where the price either bounces or it breaks through.

    For example, some traders today reckon that the Eur / Usd is going to bounce at 1.3850, psychological support, others say it will break through. So, 1.3850 could be a good entry for a Long and a Short. I wouldn't take a Long as I'm pretty certain that any rallies would be short lived and, eventually, the price will break below 1.3850. If I was 50/50 I would have considered a Long and a Short at the same time.

    :)

    Did you mean 40 pips sl and 30 pips tp?? I can't see how it would work if the sl is less than the tp. ;)
     
    #9 Black Bird, Sep 9, 2011
    Last edited: Sep 9, 2011
  10. infer

    infer Recruit

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    Then for me it would have to be clearly defined with a set of rules and backtested. Trading on a whim is gambling to me.
     

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