[Req] Forex*Profit*Predict0r

This one is not out until January 23. But it seems interesting:

 

http://forexprofitpredict0r.c0m/Ste@lth/

(change last two "0" to "o", and change "@" to "a")

 

It appears to use some variation of wave analysis to predict future price movements, and it seems to be working on the longer timeframe for Dow (longer as in holding trades for weeks to months).

 

My question is, how well does it work for forex? Anyone has any insight or info on this?

Been getting a lot of emails promoting this, here is their page specifically for forex:

www.forexprofitpredictor.c0m/CPO/2

(change "c0m" to "com")

 

some of the statistics from the video (if true):

 

* 60% win ratio

* slightly worse than 1:1 risk/reward

* took 1425 trades over 4 months

* average about 12 trades per day

* the account grew from $5000 to $30000

* there were long periods of equity curve side-way move as well as sharp drawdowns.

 

My current take on this:

(1) He seems to be trading this on far shorter timeframe than when trading on Dow. If one can trade more than 10 trades in forex per day, then it was not trading as swing or position trading as I understand it;

(2) One has to trade very large "number" of trades in order to post significant equity gain. For example, he needed over 1400 trades to post the kind of gain he is posting

(3) I like it so far because he is not claiming unrealistic win ratio or get rich overnight in only very few trades.

Edited January 21, 2012 by dukeaugustus

If this system has such a small W/L and R/R ratio,it may be legit......

I think its fishy. He is only showing his last results from Nov 2011

I think its fishy. He is only showing his last results from Nov 2011

 

I can think of at least two possibilities:

 

1 - his equity curve probably only went side-way, or went down, during December - January, so better to not show it,

 

or

 

2 - he either stopped his test, or took holiday, since November. After-all, many traders do take a break around Christmas and New Years time.

 

One is hiding the recent unprofitable months, another is genuine no trading to share. We'll never know for sure, until we can see the method, and do some back-testing.

Edited January 21, 2012 by dukeaugustus

I got his email and clicked on link for video. In the video it appears the main indicator is actually an indicator called TSI with settings as follows: First_R = 1, and Second_S = 32.. Then apparently he applied the COG calculations to this indicator somehow. I am not sure how he got prediction beyond end of chart. It also appears that the indicator doesn't start until about 84 bars back or so. He could have also turned original non indicator buffers into arrays maybe. This would allow room for cog buffers on top of TSI line.

waiting about more detail

Kevin Eaton is Jason Fielders programmer. The White line he is using in his indicator is just a normal Momentum indicator set to 6 or 7 or near there.

The "hidden" indicator that he shows in his third video that he so called claimed to find in the data he's "pulling from the FPP server" is a simple SSL channel indicator.

Kevin Eaton has just modified free indicators into looking cooler.

 

Don't be fooled by another $1,997 system when you can get the indicators for free

 

Edit: Oh and look at a Slope direction line (free indicator) set to high, one to low and one to median price and see how it compares to the blue wave lines. Instead of attaching them to a chart he puts them inside a window with a momentum on top.

Edited January 23, 2012 by mitch

I have long noticed that there is a strong negative correlation between the value of the forex system sold, versus the number of internet marketers promoting the said system.

 

The fact that just about every forex affiliate out there is flooding my inbox promoting this (everyone all so "generous" giving me extra bonuses if I click their affiliate link to buy this), I am now far less excited about this than when I first read about it.

 

Also, mitch's post about Kevin Eaton being Jason Fielders programmer, and I also notice the price is just about the same as many other over-priced forex systems previously put out by Jason F.

 

I think this is very likely to be another over-priced over-hyped forex flavor of the month system. Sigh! Too bad, because I did have very high expectation in the early days for this. Now no longer.

this system is really good...it uses cycle projection oscillator....which is similar to gravity indicator (readily available everywhere) ......anyone can share the indicator......anyone has it.......there are a lot of good info about cycle projection oscillator

I have received many emails about this over the last few days.

No suprise there, I know. I treat them as I normally do.... straight in the recycle bin.

 

However, I was a little surprised at receiving the same affiliate blurb from messrs Tom Strignano and Hector Deville.

 

My response to those two, supposedly respected Forex traders, is 'if you tell me you are going to abandon all your OWN current 'money spinning' methods in favor of Forex Profit Predictor then I will definitely buy it'.

 

I await their reply!

I found some good stuff quite *closely related* to this on another forum under the heading "fast fourier transform cycle extraction" (google is your friend)

 

Also, the original site is here..

hzzp://[email protected]/about.htm

 

But I don't think you are going to get the magic bullet.

You may get the RSI thingie, or whatever, but I remember reading somewhere (or in the video) that he is not just blindly going to release it and let everyone have a "crack" at it...

I think it's going to be a kind of signals service, or images to your inbox every day...

check the video starting at 42:00

hxxp://www.forexpr0fitpredictor.c0m/Ste@lth/cpo-live.html

 

He talks all about "live trade alert" emails and SMS...

He talks about logging on to their server to see the forecasts....

 

there aint gon be nothin to downlaod (probably apart from the MSI which is most likely a momentum indicator with a moving average, or even RSI with a moving average for smoothing)

Quote from another forum....."24 hours later, and all I have so far, is access to the members area, where I have the 4 currencies charts displayed, with the indicators attached. No instructions, no pdf, and both the affiliate and the vendor have not replied to my emails for further information. I have opened a trade on GU on a demo account, with what I understand the charts are predicting, so will keep posting as information comes to hand."

Would expect better customer service for that kind of money.....

Please rick keep us updated of the other forum member perfomance regarding FPP

Please rick keep us updated of the other forum member perfomance regarding FPP

 

Ok...nothing heard from the guy who bought the product and posted the thread...here are several WARNINGS from others:

 

I'm new here, sorry my bad english

If there is some product whith Derek Frey how associated or similar, RUN AS FAST YOU CAN¡¡¡

This guy and others like Jason Fielder are the best marketers selling packed dreams by 1,995 $

Please don't try nothing, save this money or spend it at Las Vegas

Good Trading :)

And another one

"I don't trust this,because derek frey is behind it.Before this derek frey is selling elemental trader(harmonic trading) indicator for a $1997 also.turn out the"elemental trader" indicator is 100% copy of zup indicator,which is famous and free at forex-tsd forum."

 

hope this helps!

Guess there's no need for more news , thanks rick ! your awsome !

What's the chance of something being a scam in forex when it is being hyped to death--99.99% Like others have said--If you have something that is making money hand over fist--why would you sell it?!?!?!

whether scam or not....please anyone can get hold of the cycle prediction ossiclator which comes as part of the program.....this is the BEST indicator available at the moment???

To all of the indo-family do you really believe that this indicator can predict the future in the market, do you think its going to know how everyday economics is going to behave now or even tomorrow??.

If this indicator does half of what they say, don't you think that the big corporate organizations would buy this guy out and shut him up to keep it for themselves.

Hey if i had cash to purchase something that's going to basically guarantee me wealth for the rest of my time money would be no object.

The first clue that this is a scam is that all of the so called Internet Gurus are jumping on the marketing band wagon,why try and promote it just buy it and trade with it and have all the money in the world. Haven't we learned anything that when these guys start promoting other peoples products, systems,EA formulas and indicators. that the whole advertised Forex market is a load of ****. They are admitting to you that there own systems are failing so they are trying to make a buck in internet marketing not trading.

Don't get me wrong you can make money on the Forex but not by buying lies. Lets stop being fooled by these money hungry cockroaches.

I believe there are enough talented traders on this forum that are probably trading with more success than what these so called gurus are. I have learned a lot of things just by reading posts and other people ideas all you need to do is open your eyes and mind and eventually it will all make sense.

Thank you e24 for your thoughts but there is nothing wrong in trying this superb indicator.....we can make it work for us?

IF you go to the MQL4 Codebase webste at http://codebase.mql4.com and download indicator called TSI-Osc and use settings First_R = 1,

Second_S = 15 (or about that) and SignalPeriod = 1 (hide the signal) you will find that this is the exact same main signal he uses. He obviously added a cog or similar calculation for the channel. The channel is not on this TSI-Osc but one can still see overbought or oversold conditions.

Sorry, I was actually referring to the one someone is trying to sell at http://www.freefxtools.com/fpp-new-indicator I wasn't sure if this is the same one people are referring to in this thread.

It is the same one twinds...we all looking for the second indicator in the chart which is price projection osscilator???

 

http://www.youtube.com/watch?v=ZksvZgvB5qc&feature=player_embedded

Ok, thanks. Also the other indicator (green and red lines) is called EntryExit indicator. I know because I have it - just can't remember where I got it. I put in settings RPeriod = 24, multiplier = 1.0, signal multiplier = 5.0 and it looks about the same as in video. It was originally an indicator on chart window but if one codes it as seperate window it looks like one in the video.