REQ: Forex System on EBAY - 1000% in 22 days!

[Atradindo]

Hi Bros.

 

This Guy sells on Ebay a strategy, and he claims to make 1000% in 22 days!!!

 

Anyone knows & can share?

 

http://cgi.ebay.com/BEST-Forex-Indicator-1000-Profits-22-days-PROVEN-/250806192758?pt=LH_DefaultDomain_0&hash=item3a6536ca76

 

Thanks :)

[happy12]

perfec trend lines shared last year. DOES NOT WORK AS ADVERTISED!

LOSER!

[huuu]

come on people the guy is selling spells for losing weight on his other available items, use your brains, can he really be a successful trader as he claims? Well maybe if he sells snake oil he is genuine!!!

[Diesel 10]

perfec trend lines shared last year. DOES NOT WORK AS ADVERTISED!

LOSER!

 

If you say it was shared, please post the link. I was unable to find it using search. Thanks.

[kmcco]

http://indo-investasi.com/showthread.php/5959-PerfecTrend-Lines%E2%84%A2

[Vanya]

I find your comment interesting in that the ad on Ebay for PerfecTrend Lines 4.0 makes no claims on how well the indicator has performed. There are no computerized performance results. It just has a bunch or marketing hype and testimonials. Red flags go up right away in my mind whenever I see testimonials and no computerized performance results. The price is also another sign to stay away from buying; do you think anyone would give away the keys to the kingdom for $99? Yes, I know, just looking at the beautiful charts with red dots at the top and blue dots at the bottom would make anybody whip out a credit card!

 

I admit that I was a bit curious to how this indicator is constructed but even if I bought it, I would only receive the software without the rules for generating signals. For me, that is a non-starter. I don't trade off any indicator or strategy unless I know the rules behind it. This is because when the drawdowns occur, I can keep on taking signals because I really know how the system works. It is virtually impossible to trade a black box system when the losing trades start piling up.

 

To satisfy my curiosity, I noticed that the meta trader verson is available for free from several sites. I don't use meta trader and quite frankly don't like it. Tradestation is much better. I can develop and test strategies in a fraction of the time it takes to do the same thing with meta trader. So as an excercise, I decompiled the meta trader code and then translated it into Tradestation. I created a Tradestation indicator, show me, paint bar and strategy for PerfecTrend Lines 4.0. The code I developed is functionally the same as what they are selling even though I probably implemented the same rules in a different way. When I ran the code, the charts looked exactly like the charts on the ebay ad.

 

So what are my conclusions about this indicator? Well, it is a trend following indicator that is in reality a range breakout indicator. There really is nothing new about range breakout systems even though the marketing hype states that it is "based on the latest technology available today". Such trend following/Range breakout systems trade very well when the market is trending and get killed when the market chops around. That is why the examples chosen for the ebay ad are well chosen trending charts. Had the ad showd you a choppy market, you would see losing trade after losing trade. Any ***** can draw two horizontal lines on a chart that represent a trading range and then buy/sell the first close out of the range. Is that a new idea worth $99, $9 or 9 cents? I'll let you be the judge.