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Northern lights strategy

Discussion in 'Has anyone heard of?' started by Rick van Houten, Jul 19, 2009.

  1. Rick van Houten

    Rick van Houten Recruit

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    Hello traders,

    I run into this program "The northern lights strategy"
    It,s a scalping program from a Greek "kodikos"
    The price 1470 euro!!!!!!
    The results looks to good to be true.

    I could not find anything about this program on FPA

    Is there somebody ho has tried this program.
    Or now some facts.

    Thx and good trading
    Rick
     
  2. nyfxtrade.com

    nyfxtrade.com Private

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    I wouldn't invest 1470 euro in the system you can't find anything about on-line! I'll tell you this much!


     
  3. Stony

    Stony Sergeant

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    The wordiness of this offer is so ridiculous that it´s real fun to read it! :D:D:D:D

    But seriously: don´t believe one single word of this junk!
     
  4. Nancy Cheah

    Nancy Cheah Sergeant

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    Give me those Euros instead and I'll buy you more useful stuffs.
     
    #4 Nancy Cheah, Jul 20, 2009
    Last edited: Sep 5, 2011
  5. pepper1

    pepper1 Private

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    what is obviously apparent here is that the creator of this system does not have your best interest in mind but his own and foremost, the real issue is will you make the commitment to purchase it? if it works, great, but i can't imagine that you will be immensely proud of it either.
     
  6. RahmanSL

    RahmanSL Major

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    If you have those Euros to spare, might as well buy into a PAMM account if you have no confidence to trade by yourself.

    If the system is so good, why don't they use it themselves and quietly become multimillionaires instead of hocking their "wonderful" system over the internet where Market Makers can render it useless??
    I would guard my "wonderful" trading system with my life; i.e. if I have one!

    Cheers!
     
  7. Blazir

    Blazir ForexRaiders Rep

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    Hello,

    I am the owner of the system

    If someone wants to make a review must have the software and the system.

    Since you don't have a clue from first hand experience you better not comment about something you don't know.

    The system is installed and licensed by me personally and everything crucial is transfered on a 1 to 1 basis.

    The trades are made in a ECN broker through a licensed Ninjatrader Platform.

    So you will need an extra 995$ (or 180 $ for 3 months rental)for the live Ninja trader license.

    Here we say that opinions are like farts.lol

    Everyone has one,lol.

    Thank you

    Basil
     
  8. MB120

    MB120 Private

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    hi , I am a student of Basil , I am a doctor of medicine from Israel and I took this program in March 2009 , a year ago. Early in my trading career I realized that I need help , because I was losing money despite following some systems with discipline and recommended money management. I was impressed by Basil's trading journal and took the northern lights course. Basil guided me through A to Z , spending with me many many hours in skype. After completing the course I had very good basis of knowledge about the market. then I started trading live and became profitable on daily basis. If you ask about the system itself - yes it works and it is profitable.

    Some forum members said here that the price is too high - I think that every cent is worth it - there are very few programs available where you will get personal guidance for so many hours (I suppose maybe there is no such program at all anywhere else) , and besides that - there are many more expensive forex courses where you pay and get only written and video material and maybe some email support - but not more.

    Looking 1 year back I can say that I was lucky to meet Basil , maybe if I would not meet him or would not make the desicion to invest those 1470 euro - who knows , I could be one of those numerous miserable every-day-losing disappointed retail traders who eventually give up and leave the market.

    I am in contact with other graduates of northern-lights course - all of them are happy and do not regret about the money they invested.
    It is always easy to criticise something that you have no experience in, with such negative approach it is nearly impossible to earn in forex.

    I know there is so much junk in the industry of forex education and most of the educating gurus do not trade their real money and live from their systems' sales and not from trading - but this is not excluding the possibility of really good courses and programs.

    Anyway , if you have doubts you can contact me on skype my username is forex4ru , you can ask me any question about northern lights course and my experience with it.
     
    #8 MB120, Mar 9, 2010
    Last edited: Mar 9, 2010
  9. Blazir

    Blazir ForexRaiders Rep

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    and as an extra replay here is today log :

    Hello,

    I haven't post for a long time in the trading journals.

    But today is a special day.Why ?

    Because one from the people I have trained reached to the following point:

    He is from Austria and he is in the banking industry.

    His English is not his strength, but discipline and persistence is.

    This is a part from the discussion in the inner circle of the students.

    [22/3/2010 11:44:25 πμ] M.........e says: do you remamber we beginn i the end of jänner combination with colochange!

    [22/3/2010 11:45:03 πμ] Basil-kodikos says: are you still writing down how many in profit how many in red ?
    [22/3/2010 11:45:48 πμ] M..............e says: I HAVE NO DAY WITH LOSS
    [22/3/2010 11:46:02 πμ] Basil-kodikos says: (handshake)
    [22/3/2010 11:46:05 πμ] M..............e says: But i have Day i am not Trading

    I feel nice because I have done my part.

    Cheers

    B
     
  10. mikeforex

    mikeforex Recruit

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    Real Review

    ok, so let's get a real review out here....

    nyfxtrade, Stony, and nancy...you guys are absolutely right!

    I took the course and in my honest opinion it is NOT worth the money that gets charged for it (I am not the only one...There's another so-called student that has the same experience). Unfortunately, the owner truly believes that he gives exceptional service by personally talking to you for 20 hours and that time is worth all the money in the world. Yes, he does spend personal time, but unfortunately that time is not well spent...


    The so-called course consists of one back-testing exercise for a particular divergence strategy that the so-called mentor/teacher refuses to review. His comment on my asking to review it was that he looks at enough charts 14 hours a day therefore does not have the time for it. So much for being a mentor/teacher!

    Now, as part of the course you will get some decent software to maintain your computer and that I believe is the ONLY good part about the "course".

    A whole bunch of books (downloaded from you know where...) will be thrown at you as part of the course without any regard to what one should read or focus on. The answer generally is knowledge is king. Of course, knowledge is king and every idiot knows that, but will you ask a baby to start spelling words without knowing his/her ABCs. Of course not and it seems that this teacher/mentor does not quite understand this basic fact. There is absolutely no attention paid as to what level (market understanding and trading) one is at so its basically a here's all the info that I have and now you have. Go figure it out. For a newbie, that's an absolute nightmare as there is NO REAL guidance offered.

    In our chats I have asked lots of specific questions and always received vague answers. My hopes were that maybe those answers will make sense later, but now I know they won't...

    As far as the software itself is concerned, there is certainly no magic to it. In fact, the owner could not/would not even give me specific rules to trade with. The answer always was to OBEY a particular indicator that changed itself way too often due to the use of micro timeframes...ONE cannot trade based just on that (I've tried). In addition, the scalping strategy is one that is found for free on forums like these and others. The answer to specific rules in the system is GUT FEEL! There are no particular set-up conditions or rules to follow.

    Now, as far as the human element is concerned...I do not think that the owner is a dishonest guy. I think he is sincere in his intentions, but needs a hard reality check (which I tried to give him, but of course it won't go anywhere). Will he answer your specific questions - Yes and No, but he will chat with you thinking that he's helping you, but its not really any help! He will also share anything useful he finds (like new websites which might be useful). Unfortunately, he's always looking for a new magic indicator to add to the tool-box and share it with the group. While the sharing intent is good, giving students new "stuff" without forward testing and knowing exactly how it works and figuring out a way to incorporate into the system causes confusion especially when there are no rules to begin with.

    In my opinion, the entire so-called course is a hoch-poch of stuff put together and is being called a "course". There is absolutely no structure to the "course" and when asked about it the answer given is that you will take it as it comes (whatever that means because things seem to come from the left field all the time or don't come at all).

    There's also the person in the banking industry and doc that are mentioned in these threads. Yes, that's true, but somehow it was omitted that the so-called person in the banking industry lost a ton of money (80k) doing all of this and was then told to look at pure price action where he finally seems to have come up with his own methodology. Same with others in the group...It seems only one or two people trade the system/software and everyone else does their own thing (in which case why the heck should you pay someone that much money).

    On the owner's forum he talks about the FX Black Hats who apparently are supposed to be the BIG boys trading FX and I was also told that you get one profitable system after another practically every month. Well, I haven't found any of them (maybe they ran away when I joined the group). There is also no major talks in the chats. Folks say good morning to each other and then the owner posts some blurb that he read on some website to give everyone in the group an idea on what the thinking is out there, but as a mentor/teacher his thoughts are never on the table! In the same vein, no real time trades are posted. The banker taking demo trades with his system posts his trades, but its demo and everyone is a genius in the demo world.

    I am also not sure where the 90-95% success ratio came from. I certainly did not find success anywhere near it. Maybe 50-60% and when asked how to improve, the answer was that it was all GUT feeling! Well, if our GUT feelings worked that well then we wouldn't have 90% losers in Forex, would we? You would also think that as part of the learning process the owner would post what he just traded and why (in real-time)...Well, that does not get posted and ITS NOT GOING TO HAPPEN (tried it by asking for it)! The course is definitely not worth the price (heck even Hector Deville or Chris Lori) charge you one-fourth the price of this course and they provide knowledge and strategies with with clear entry and exit rules. The owner can't seriously think that the extra three-fourths of the money he charges is worthy of 20hours of his time and/or giving one 40-50 books and other software (downloaded for free from you know where...).

    In essence, I believe that this "course" is being offered by a guy with some honest intentions who is trying to make some risk-free money by helping folks. Unfortunately, the hoch-poch non-structured course will be of little help to anyone. The owner needs to put in a TON OF WORK in restructuring the course while taking into account what level each of his students are and deciding how to tailor the course to fit individual needs while at the same time respecting the students and the learning process.

    Now, the only thing the owner has against me is that I tried to get half my money back (and I am sure he will have something to say about that which is fine by me!). He does not offer any money-back guarantee when you sign-up with him. When I realized that the course is not worth the money he charges, I asked him several (more than 7-10times) whether he would consider it. The question was always ignored in the chat until I threatened to post an honest review at which point he started blaming me that I was blackmailing him. Sure, in some sense that's what it sounds like, but if i wanted to blackmail him, I would have asked for all the money back and not 50%. My reason behind it was simply for the two of use to walk away from this a little disappointed and unharmed. He would get to keep half for giving me some free stuff and spending some time with me and I would get to keep the other half as it was not useful to me from a learning perspective. That is all that I was thinking and since he kept trying to dodge the question, I had to put it that way just to get an answer.

    So there you have it. Take it for what its worth! Sure, you don't have to believe a word in this review, but I assure you that I have nothing to sell or gain from this. If you still want to go for it, make sure you have some sort of back-out agreement in place or pay in installments (he won't agree to it. Unfortunately I was only able to get him to give me 2 installments a month apart which was not enough time to judge). If agreeing to do it in installments, make sure you have at least 3-4 months of experience with him and feel confident that you can indeed learn something from him and maybe use his software in your current trading strategy and make sure you haven't paid more than half for it so you don't regret it like I am today!
     

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