subject: Daily Index Trader Review - Is It A Scam? [print this page] Daily Index Trader Review - Is It A Scam?
Before we start it is worth mentioning, we had first hand experience of this strategy for well over 8 weeks, recorded and reported all our actual trades. Therefore, this review is different to others you will read. We do not re-iterate marketing bumf from a vendors website nor do we cut and paste affiliation sales copy. Our reviews are conducted by experienced traders that have really operated the strategy, for over 8 weeks in this case.
OVERVIEW
Another strategy where the terms "geek" and "nerd" are used in the sales material. This time the vendor exposes a "payout loophole" that entails you "get paid when you win, get paid when you lose". The method has a 76% win ratio from when live trading started back in September 2009 and does not necessitate sitting at a screen keeping an eye on open trades. No prior trading experience is needed nor is a large trading account.
THE SYSTEM
The Strategy comes with a 69 page guidebook but this is not the nucleus of the strategy, the core is the "Evaluator". Simply enter the CAC and DAX closing prices from the previous day and the Evaluator provides details of the trades to utilize for today. These opportunities are then entered at 0915 UK Time and are Set & Forget. Therefore, no charts, no screen watching, no hassle - Is it profitable?
CAN IT WORK
Initially, the technique is somewhat a bit tricky to get the hang of, find the closing prices, enter them into the Evaluator, check the trade details, execute the trade, update the Evaluator, place Stop losses and then finally update and save the spreadsheet with the results ready for the next day. OK, that makes it seem really tricky but in truth, after a few trades it becomes second nature.
Anyway, after trading all through October and November we were in the red around -6% based on a flat 2% risk per trade. Our results are similar to those reported by the vendor so based on our 2 months trading we can confirm the results posted for that period are realistic.
In the past, the performance for this system, according to the website, is impressive and this might simply be a glitch, don't all systems experience this? On this basis, we have chosen to give this system at least a further month and keep an eye on progress in December for signs of improvement. We will of course report back our findings.
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