Honesty

I’m getting a lot of emails asking, if Cash-master gave such a positive review of my e-book, why am I struggling and making a loss? A very fair question. Since the trial ended the Dubai Strategies have performed modestly. At the advised risk settings, February 5th (when the trial ended) until yesterday I should be around 5-10% up using just the Dubai Strategies. GBPUSD has been a long slog and March has started off very poorly but EURUSD has been motoring along. The scalping method continues to tick along, I just haven’t had the time to watch these closely enough to make any real gain from them. It’s a little disheartening to read people think it’s all a scam and the results must be false. My retort would be this; why on earth would I continue to host my results and progress on myfxbook if it was all a joke? Having a minus growth figure is hardly the smartest thing to do if I’m trying to scam customers is it? I could easily take down the myfxbook widget and potential customers would be none the wiser as to my progress. However, that isn’t how I work and I have explained before that I trade a mixture of strategies including TUFXP but my real downfall has been my own discipline and trade management. I keep this blog open and honest to help keep my emotions and discipline in check. If people don’t believe the results from the trial, then that is fine and dandy, the truth will out eventually and the real winner will be seen.

Whether I fail or succeed is merely down to my own ability to keep discipline and emotions in check. Up to now, they have gotten the better of me but I’m not a quitter and quitters will never win so as long as I keep everything in check, I will make this a success.

Thanks to everyone who has left a comment, some very useful advice and all taken on board.

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    • Perry
    • March 9th, 2010

    I’m one of the people who admire your honesty. What I’d like to know though, and I confess to being a Forex novice, is if you’d rigourously applied the methods you’re selling to your own trading would you currently be showing a profit? In other words does your system do ‘what it says on the tin’ if followed without deviation. Or maybe trading Forex just doesn’t work like that anyway?

    Hope things improve and all the very best.

  1. Hi mate, yes I’d be showing profit. Since the start of the year I should be between 30-40% up, not down. It’s worth mentioning I am trading at a higher risk and I think that has been my downfall along with the discipline side of things.

    The CM test was a good indication of how the system works.

    • KoNut
    • March 9th, 2010

    Hello, i am a little concerned, the reason being is because you have taken it upon yourself to sell your strategies (Dubai Strategies), stating they ” do what they say on the tin” when in actual fact you are reporting bad results yourself. I understand that a blog is all about honesty and hope you keep reporting ‘honest’ results, but surely this is not looking good for anyone thinking of purchasing your strategies??? I believe you are a young guy with limited experience of trading, this is evident in your blog results and the way you sometimes handle your emotions, do you think you have the right trading knowledge and discipline to actually sell and advise other traders on how to trade??? This concerns me a bit as i’m sure you can imagine. If newbies are thinking of purchasing your strategies and looking at you as a mentor, then they have a bit of a problem in my opinion. This is just my opinion and hope you don’t take it the wrong way. I wish you all the best, but i would seriously look at your own trading first before thinking you can sell and advise other people.

    • Hi,

      If you read my most recent post, you will see I trade multiple strategies. I don’t expect anyone to see me as a mentor in the slightest and the people who have bought my e-book certainly don’t think of me like that either.

      Also, my recent problems have arised from other areas in my life which reflect in my trading, I took it upon myself to create the e-book to help other beginners who need mechanical systems.

      Thank you for your comment anyway, best of luck.

      • Daveyboy
      • March 9th, 2010

      Sorry Dubai but i think i agree with KoNut here. I think you should take a step,or two back and concentrate on your own trading before selling your own strategies. I’m sure it’s not the case (fake results), but i too have been following Cashmasters blog and i wonder how come such a positive review of your strategies, but you are still making a loss? I understand your trading other strategies as well, but as an intelligent guy, i wonder why you don’t just trade Dubai strategies 100% mechanically if you are so confident with it and reap the rewards??? As a system seller you should be trading your systems confidently and not be reporting bad results as this to me is worrying to say the least. There are too many people out there selling dodgy strategies that prey on newbies and it’s really starting to p#ss me off (sorry but it does annoy me). Good luck anyway.

    • robhawkesi
    • March 9th, 2010

    i also admire honesty and your courage in stating your results.as a forex novice have you any knowledge of the black dog forex system they state theirs a traders forum that helps new traders etc.I am no way connected to them, just trying to work out where you start. is it that most systems are the same and that you just have to work very slowly with them with a lot of patiance. Is looking at say the ftse index a better way to start.just a few ideas that i have been toying with.hope it improves for you,Yours Sinceraly Mr Rob Hawkes

    • Hi Rob,

      I have seen Black Dog, and it’s a good system if you have the time to study it.

      I’ve never looked at the FTSE to be honest.

      It all depends on what you want to achieve. Are you looking for quick, short term trades or longer trades? You then need to decide what sort of frequency of trades you like etc. Babypips is an excellent website to learn the basic fundamentals of trading and I learned a lot there when first starting out.

    • KoNut
    • March 9th, 2010

    No probs, all the best…….

    • Perry
    • March 9th, 2010

    Just out of interest, if your basic strategies prove to be positive and easy to follow/implement why not ditch everything else and just apply yourself to them?

    I’m thinking about buying your ebook and I guess I’m trying to re-assure myself that I’m going to get some basic but effective stuff which is accessible to a novice.

    All the very best.

    • Hi Perry,

      I have a lot of faith in TUFXP and whilst it’s let me down recently, I’m hopeful the good days aren’t far away.

      The strategies are incredibly beginner friendly and if you need any advice you can always email me.

    • SCM
    • March 9th, 2010

    Would there be a way to programme the strategies into a bot and use it with a broker? Then the issue of discipline would be gone? Or am I being naive? I must admit to not knowing much about bots and how they work.

    From reading Stevetrade’s Forex Blog, it would seem to be theoretically possible?

    Just wondering. Keep on posting — the blog is a good read, even if things are difficult for you at the moment.

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