Daisy Chain Trading System - page 3

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o990l6mh:
It might be of interest to know that the entire thread over at Babypips was deleted by admin due to the fact that the daisy chain guy is a scammer...

Iwasn't one of the victims, but when I saw this thread I felt that you should know so you have all the info before going with this.

Go ahead and jump on me, I'm just telling you what happened on Babypips.

Right now, there is some investigation going on with myself and the other advanced students - I will let you know how it goes.

At the moment, I am not resigned to calling him a scammer - I personally know another student that banked over 26k with him in June and then when July was not going well for THIS student (others were just fine trading outside the normal sessions) Danny - the creator - refused to take that students money until he was up 10 times the subscription fee.

That is not the actions of a scammer.

I do not know how I feel about it right now as I am waiting until all is "out on the table", but believe you me, I will make my feelings known, GOOD or BAD.

JAWPIP

 

?

so is this for real or not?

 

Can anyone make a indicator for this?

 

For real or not

criss73:
so is this for real or not?

Criss,

The system has merit - I fully believe that, as I am having great success with it - there is also a YEN basket that moves even more in sync! The best thing to do is attend the FREE room - watch it - and customize the system to your style and strategy.

For instance - I use the basket to determine the trend (like a heat map) and then trade my setup on my favorite pair. That is my best approach, but trading across the whole basket is viable as well.

Hope this helps answer your question,

JAWPIP

 

General Questions About the System

Jawpip:
Criss,

The system has merit - I fully believe that, as I am having great success with it - there is also a YEN basket that moves even more in sync! The best thing to do is attend the FREE room - watch it - and customize the system to your style and strategy.

For instance - I use the basket to determine the trend (like a heat map) and then trade my setup on my favorite pair. That is my best approach, but trading across the whole basket is viable as well.

Hope this helps answer your question,

JAWPIP

Hi Jawpip,

Thanks for posting this. I did not follow the system on the BP site, but I had seen it and knew it was popular (and unpopular - LOL). It has caused quite a stir over there. Couple of quick questions:

1) Since some of us have been around long enough to know that talking in terms of "pips" is not the best way of representing results (that is putting it nicely...haha), would you be able to provide any results in terms of 2R, 3R, 4R, etc., R:R ratio? Can you tell us what percentage of your capital you are risking on each trade (even if you are not using SL, you must know this), and what your average % gain is per trade?

2) When you are stating your pip counts out here, is it with the SL plan that you recommended for the newbies early in this thread, or is it based on your no SL plan? The answer to this question makes a huge difference.

3) Have you done any backtesting of the system and can you give any info on key metrics such as highest drawdown, etc.?

4) Are you affiliated with the creator of the system in any way, or are you just a student / fan? I saw "jawpip" mentioned over at BP by the creator.

I am sure I will think of more questions. Again, I do appreciate you taking the time to post this out here.

 
Jawpip:
To me, this best part of this thread and the presentation of this system is that it is accompanied by a live free room - where people can explore this system as it being used right in front of them.

This not the START of a new trading system - this is one that our group has used for sometime (Very successfully - I might add) and we use it and each other to help develop and guide one another into profitability.

JAWPIP

If anyone would like the link to the free room - just PM me - I would be happy to post it in this thread if it is allowed - Any help with this rule would be greatly appreciated.

I predict that this thread will end in flames when the guy finally drops the link and it leads to a commercial website.

 
Jawpip:
Pure Symmetry,

It is hard to get conned by something free - - I posted the link above to both the website and the free room - if you do not like it - you do not have to stay.

No system is perfect and we have had our losses, but out gains much out weigh them.

Capital requirements - I trade 1 mini per 1k in my account divided across the basket.

Our goal is to build a community of like-minded traders where everyone can get together to make us all successful.

JAWPIP

Someone tries this every few months. The front website will be free but there will be an expensive (useless?) subscription available on it where all the 'good' information is. Sorry chap...it's been done to death on forums like these.

 
Cyclesurfer:
Someone tries this every few months. The front website will be free but there will be an expensive (useless?) subscription available on it where all the 'good' information is. Sorry chap...it's been done to death on forums like these.

Edit:

Yeah, he's selling something, plain and simple. Watch the videos on the site...youll see what I mean when you get to video three and hear mention of this "Ultratrade" thing. It's such an old gimmick. Of course Basket trading requires a large initial investment, everyone knows that save for the noobs you are hoping will join your 'advanced' site or w/e it is.

Commercial promotion is not allowed on this part of the forum.

It's so funny because in one of the videos he says that "Scalping is stupid" and in the Ultratrade thing he is advocating scalping.

LOL..wtf

 

the truth is simple

I agree. It has all been done before,

Look at me, my name is Ray w swartz and I am a millionaire.

I dont want to brag but look at these results. ( photochopped)

bla bla...

I want to do the Forex Business, but I want to do it right!

So I am working on my results, not my marketing technique.

Once the results get out to the public then I wont have to market any BS like 99% of the other people..

 

Dont hate the scalper

this guy is retarded...

I can make a precise entry (scalp) limit my exposure and walk away with

more money than a 150 pip move can make me because of MM. Risk Reward and

Proper LOT size.. and The trade is done quickly, BUT yes I may watch the market for 45 minutes before I do anything...

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