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I remember Dean Malone when he was working at the scam company GlobalTec Solutions which developed 4xmadeeassy back in 2002. Scamming seminars enticed traders to purchase their green and red arrow system on cherry picked charts and told how the pretty arrows would tell them to trade or not to trade. The company was sued many times over for false advertising and Dean was one of the scam artists that was selling this junk. Just out of curiosity, how many traders remember this system?
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Maybe not DOTS-relevant, but right now for whatever reason it is (blown up account?), he has switched to demo account. Yeah I know he is "having trouble" with PFG as his chart frequently freezing. But.. for months? If you're familiar with Dean, you may get the idea why I'm thinking about blown acc.

 

The leisure thing about demo is, he can revert-back the capital to $50,000 instantly.

I remember in NFP session last September, when EUR is at .2500 mark, he already had several losing positions (along with other pairs).

Without proper SL, he let the market went against him for about hundreds pips away. He's quite convincing by saying something like "EURO make an explosive push without noticable retracement". He expect market to come in his favor soon by saying "EURO will go to 3000 before Goldman Sachs and other big players went short".

 

The next Monday I check how he's doing with such strategy, and find what?

He's already back at $50,000, without a single open position!

Edited by ivonivon
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Ian, I bought it simply to try it out and see if it is as great as advertised. I did some cursory analysis of the info given in the sales propaganda and am trying it out on various platforms. The start basis time of it is really screwed up as it ONLY works as advertised on FXDD and other platforms with the same GMT offset. It bases it's calculations of 0:00 and assumes that is 1700 EST. If it isn't, you are screwed because there is no way to adjust anything on the indicator other than font size and colors. That being said it has not produced results any better than a coin flip. Stop losses exceed TP levels in most cases which is not all bad but most trades don't enter for hours after placed as buystops and sellstops. If you want profit level 2 you almost have to monitor. I can make my $300 back quickly, but not with this system at the present time.
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Finished a night of horror listening to a DOTS seminar live. 8 trades were placed, 1 long and 1 short on each of 4 pairs, EU, GU, AU, UCHF. As of this writing EU +26 GU +18, AU -44, UCHF +11. First winning trades on EU in 3 days. Form your own opinion but it seems like a lot of work for 11 pips in 10 1/2 hours. Of course, I could be wrong.
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Six trades placed at 1700 EST on EU, EJ, EA, GU, $CAD, $CHF for a cumulative loss of 48 pips. Please, my friends, DO NOT put this thing on a live account. I will not share it because I do not want to be responsible for someone losing money. Oh, almost forgot. Those trades were on Dean's broker. On my broker,who uses a different GMT offset, the cumulative loss was only 10 pips.
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  • 1 month later...
Guys I always listen to Dean's commentary in his live forex room....I NEVER do any of his trades....and I am suprised that people keep on posting that they made 100 pips...one guy posted made 300 pips last night using DOTS....I posted a post stating that we need to see your trades and Dean comes in and becomes defensive ....I am thinking why do people have to bullshit to such an extend??????
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  • 1 month later...
I guess no one is using this anymore. I have V.2 so I am going to test it on a live account on 5 pairs with an alternate thrown in. GA, GJ, EJ, EA, EU, and GU if necessary. Trading .2 lots on each at US open using TP2 as target on each. I will not post a copy of my terminal stats for obvious reasons as this is live but will give you an honest report on Friday.
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