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Shredder FX System


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  • 1 year later...
Hey skid-z, it sounds like you've tried it already. If so, do you have any of the videos? Would you share with us?

 

Not only did I "try it", but I was involved, to a certain extent, in the development of the system. This was several years ago. I was part of a team that Steve put together to help test & develop some systems he created. All of the systems were garbage. I can't speak for how they work, right now, today, but I highly doubt they are any more profitable (or not profitable I should say) than they were back then. My advice is to not waste your time. My philosophy on trading is "keep it simple". Steve's stuff is overly complex and requires that you sit in front of your charts all day long. On paper and in theory it seems like a good plan and creates lots of hype, but realistically it is not. You need tons of training and screen time to understand it and proprietary indicators as well and in the end it fails. Not for me...

 

Not sure why my original comments were deleted from the other thread mentioned above, but this is my opinion of his system as I told it to Rick on the other thread:

 

Steve G's latest...

 

I believe it is just another way for him to "market" the same system he has been trying to push for the past few years just using a different angle to explain it. He's also trying to sell Intellicharts with his own proprietary indicators by saying MT4 is no good for trading forex.

 

His Harmonic Wave Convergence indicator is simply an RSI-3 from the 5-min timeframe transposed onto an RSI-3 from the 30-min timeframe. Its meant to be traded off live candles from the 30-min timeframe using

a fixed set of targets that consist of Camarilla lines, fibonacci sequence values based off crossing of EMA62, fibo grid lines, and a few others. The charts are so cluttered with lines that any market turning point has a

good chance of turning around on or close to one of the lines. He always talked about "lifestyle" trading (not being married to the charts), but all his systems require extensive time at the charts to catch the moves since entries are off live candles.

 

FYI, I was once affiliated with him and part of a trading team he put together. I no longer trade any of his strategies for the reasons you've already pointed out. I literally wasted 1-1/2 yrs trying to learn & trade with him. Wish I could have that time back.... He also owed me money which I finally wrote off several years ago after I cut my ties to him. Steve was also originally part of FX-Trainer which in my opinion scammed many people, including myself, out of thousands each. I don't think Steve was actually involved with the scamming, but he had grown a good size business from his dealings with them. I don't hold a grudge against him, I simply cut my losses and moved on.

 

Here is a link to his original Power62 trading system based off the 5/13/62 model by Booker. The system is broken down into parts on the left hand side of the screen.

 

http://pipclub.com/62/

 

A message to anyone reading this: STOP looking for the holy grail and learn to read the market, then trade price action and stick to your plan. You'll actually have a shot at success that way.

 

I'm going to leave it at that. If you want to investigate this further then that is your choosing & I wish you well with it.

skid

Edited by skid-z
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I just spent some time revisiting some of the Multiwave indies from the system, and I now have some interest in applying them to some of my existing price action trading methods.

 

I still feel that the Shredder is worthless the way it is setup (too much junk on the screen), but the Multiwave indies may be of use with my supply/demand line trading.

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Not only did I "try it", but I was involved, to a certain extent, in the development of the system. This was several years ago. I was part of a team that Steve put together to help test & develop some systems he created. All of the systems were garbage. I can't speak for how they work, right now, today, but I highly doubt they are any more profitable (or not profitable I should say) than they were back then. My advice is to not waste your time. My philosophy on trading is "keep it simple". Steve's stuff is overly complex and requires that you sit in front of your charts all day long. On paper and in theory it seems like a good plan and creates lots of hype, but realistically it is not. You need tons of training and screen time to understand it and proprietary indicators as well and in the end it fails. Not for me...

 

Not sure why my original comments were deleted from the other thread mentioned above, but this is my opinion of his system as I told it to Rick on the other thread:

 

 

 

I'm going to leave it at that. If you want to investigate this further then that is your choosing & I wish you well with it.

skid

 

Wow, now that's what I just love about this forum. Very knowledgable members whom are willing to share their knowledge for free and help their fellow man and woman. Thank You skid-z. Your reply was very informative.

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I just spent some time revisiting some of the Multiwave indies from the system, and I now have some interest in applying them to some of my existing price action trading methods.

 

I still feel that the Shredder is worthless the way it is setup (too much junk on the screen), but the Multiwave indies may be of use with my supply/demand line trading.

 

THANK YOU

 

 

Please, do follow us on ..>>

 

http://indo-investasi.com/showthread.php/16776-(share)-FXShredder

 

LOL

 

Good people are worth Millions ..warm handshakes and $$ ,,, :)

 

AlwaYs .. SIMPLIFY .. MHO

 

thank you

 

Good trading wishes

Edited by Marchello
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