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Forex E75 System


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Kraven started another thread a few days ago on this. I watched about 50% of the vids and if you are into BB and RSI trading on the M5 I guess its ok. I prefer naked trading myself.

 

While doing some Google searches for more information I saw that James de Wet was convicted and owes over $1,000,000. You can see the details here:

 

http://www.cftc.gov/ucm/groups/public/@lrenforcementactions/documents/legalpleading/enfdewitmonetaryjudgmentorder.pdf

 

I don't think I would be too anxious to send him any money.

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Kraven started another thread a few days ago on this. I watched about 50% of the vids and if you are into BB and RSI trading on the M5 I guess its ok. I prefer naked trading myself.

 

While doing some Google searches for more information I saw that James de Wet was convicted and owes over $1,000,000. You can see the details here:

 

http://www.cftc.gov/ucm/groups/public/@lrenforcementactions/documents/legalpleading/enfdewitmonetaryjudgmentorder.pdf

 

I don't think I would be too anxious to send him any money.

 

It would seem he has a long history of dubious activity. That's not to say some of his trading methods are without merit - but you don't want to be sending him money.

 

http://www.futuresmag.com/Issues/2006/10/Pages/The-DeWet-investigation.aspx

 

:-O I did not know that. Thanks, guys for the warning!

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So this system is dissappointment ?

 

not really...... his image may just be stained and that affects the system... sort of!!!.....

 

 

Despite his current state the trading system may still be viable. Maybe he couldn't stick to his own rules :(

One obvious truth.FOREX IS ANYTHING BUT EASY
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It is huge because it has video files in it. De Wet does most of his stuff through the medium of talking endlessly on videos.. As for the strategy, well, I don't think anybody expressly said it was useless. A trading strategy is just a trading strategy - it takes the individual trader to render it painful, expensive and useless. Before passing judgement on anything trading I'd recommend people do the 'Ronald Raygun Challenge', outlined below...

 

Here's a tip for the newbies who are learning to trade.

 

Ignore all that hype for various systems. Remember--for now--this one fundamental rule: The exit is more important than the entry.

 

With that in mind, I want you to do the following on a demo account:

 

1) Toss a coin: Heads long, Tails short

2) Manage the trade as you see fit. If you think the trade is bad, exit.

3) When you exit a trade, go back to step 1.

 

If you can double your account in less than 50 flips, I consider you a good enough trader to go live. I personally average between 20 and 30 flips, and I do it once a week, on the weekends, trading simulated data.

 

Get the MT4 Trade Simulator at: http://www.forexfactory.com/attachment.php?attachmentid=89818&d=Feb%2025,%202008%208:18pm

 

 

Try it. It helps, LOADS.

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