Posts Tagged ‘ ATM-FX ’

Monday Rewind


I did initially have some worries about trading on Monday as prior to 6.30 AM there was precious little movement and GBPUSD was looking particularly ugly. A couple of strong sell candles formed and a trade signalled on TUFXP and not for the first time lately, a discrepancy was found between different users of TUFXP. My stochs, whilst heading down, were still okay for an entry but for another user the stochs were well over the oversold line. It is a little worrying how different the data can be at times but at least we got the same signal this time!

1.5000 was also a major concern and when it bounced to 1.5027 I thought my goose was cooked but thankfully strong selling pressure won out and a nice victory was gained and I also managed to hang onto it for +33.

I’ve always questioned the wisdom of TUFXP employing a sole company to providing a data feed and they swear blind they do not receieve any commissions off IQFeed which I find extremely difficult to believe. Why is it the likes of Fxpro, FXDD, Alpari, OANDA can all provide excellent feeds for no cost yet IQFeed charge over $88 a month for a sub-standard service that regularly drops out which in turn affects the outcomes of PTPs.

A friend in the trading room, Mike, mentioned you can request to pay 12 months upfront and you can receive 50% discount on your subscription. Thanks for that Mike!

I hope everyone enjoyed Graham’s first post, he’s still having a few problems logging onto the blog but I’m sure he’ll get around the technology soon 😉

Onwards and upwards..

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Rocky


Yesterday turned into a nightmare. I can hear the groans already! Whilst I was content with my early +20 I did have one other trade and what should have been an elementary win turned into a farcical loss and a big loss. An errant lack of concentration when placing my stop cost me dearly. Without going into further drama I completely messed up the TP and SL levels and ended up taking myself out for -40 instead of a +20 win. I also failed to cancel a pending trade from much earlier in the day as I rarely have the terminal showing within MT4 as I like to keep as much space free for the graphs. It just touched the entry and spiralled to a loss for another -30. This all happened whilst I left to go and do some grocery shopping for literally 30-45 minutes and the shock when I came back was unreal. Needless to say I was pissed and went about trying to rectify it and make back the losses immediately. A further loss ensued and I was staring into the abyss before some sense got into me and I took a step back and evaluated things.

Mistakes can and will happen but it isn’t the first time I’ve got my SL wrong and more care and attention is clearly needed and I’ll be looking to do just that when I’ve completed the move to Australia. A couple of strong trades today have eliminated yesterday’s disaster and even a small profit. TUFXP hit the mark again today but took a little longer than usual to signal a trade. Very, very early days yet but I think this could be a decent replacement for my old TUFXP method. What is worth mentioning however is the fact that it is 99% identical to ATM-FX which costs 1/10th of the price. Unless you can find other uses for TUFXP which at the moment I do then I really can’t see the advantage of paying an extra £1,900 for the software. Sure it’s helpful having a nice little circle but with practice ATM-FX could equally become second nature and a few programmers could probably even organise an indicator to highlight a trade.

A quick note: It appears I’m using a different MA to CM. I emailed him last week asking which MA he’s using and he said standard which he thought was 20. I’ve tried various settings and I was briefly on 8 but now switched to 20 and looking at today, they appear to match. If anyone knows for sure if it’s 20 then it would be good to hear from you.

Pleasant Surprise


It’s been an okay week so far, yesterday was a little disappointing with a couple of near misses and missed opportunities.  The GG  TUFXP method operates on a 3 bar qualifying window, so it has 3 candles on whichever timeframe the signal came on to qualify. A GU trade expired by a matter of seconds then went on to qualify and hit the profit and it certainly was tempting to keep the order open but this month for me is all about following my rules and keeping to the plan.

A pleasant surprise came from TUFXP this week with their upgrade to version 2. It’s going to be released to the public pretty soon I imagine. The upgrades are small but meaningful with a couple of very helpful additions. If you’ve bought ATM-FX and already have TUFXP, you’ll be a little annoyed as now you can trade the ATM strategy using TESS software. It’s still lacking some upgrades which I’d of liked to of seen but I’ll see what happens over the following months.

That’s about it for now, hope everyone is having a pip filled week.

ATM-FX


A few readers have suggested I look at ATM-FX. The cash-master site recently did a 1 month’s trial of it. I hold nothing against the CM blog and he did me a favour by hosting my own e-book but I find that he’ll give a positive review to his main affiliates as it just wouldn’t make financial sense to pooh pooh a system from a mainstream supplier of products which provides a good source of commission. ATM-FX is from the stable of Cannonbury Publishing. Please note that this is my own opinion and has no reflection on the cash-master intregity.

A friend left a comment recently which I thought would help any potential buyers:

Hi John,

Just to let you know that I did actually follow Cashmaster’s test of the ATM system and the results he posted are completely valid and anyone else who followed his method would have gained identical results if they traded over the same time period.

Having said all that I do have reservations about the method which he outlined. In his test he set a target of 20 pips on all trades. If he gained a +20 he would stop for the day. His stop would be the prior high or low from the last market turn prior to the signal – this was general around 35 to 40 pips. So there is already an issue – the risk can be twice the target. If the first trade lost then a second trade would be entered. If there were two losses then he would stop for the day. So from this we can work out a number of ’stats’. Firstly, if the stop is 40 and the target is 20 then you are likely to win 66.6% of the trades even if the system has no edge. Secondly, from a psychological perspective, what would you feel like if you had a day with two losing trades which cost you around 80 pips in total? What if you had two or three days like that back to back? Suddenly you’d need a fair few winning days just to get back to break-even! You’d have to ask yourself all these questions if trading this method. To some extent I think Cashmaster got lucky with his test period – there seemed to be a slightly higher than average number of days where he made his +20 then buggered off.

Personally I think that the ATM system does have merit but, as with all systems, it’s down to the individual user to try and fit it around his or her own ‘trading personality’. I don’t think that it is realistic for anyone to think that they can just take a system and make it work ’straight out of the box’ (even though this is very appealing to many people).

Hope this helps peeps,
Steve.