May 1, 2007

System X Trader

Overall Review

Long Term Trading:-

My staking plan was I would trade 10% of my bank. 5% on the back and 5% on the lay. I wanted to trade with £100 each side of the trade. So my starting bank was £2000. Total Month £ Profit =  £67. Total Month % Profit =  3.35%. Not fantastic is it.

So I have to say I very disappointed with this system. At the beginning, the concept of trading on horses got me very excited. I’d heard about System X Trader and am still getting emails from certain promoters saying how wonderful it is and how much money they are making. Well I dunno how!

I was only trading 4 – 5 days a week so I missed a few bets no doubt. I traded on 11 horses and had 6 winners (although two of those trades lost me money because the price rised above my back bet). This is 54.55% strike rate, which is quite impressive considering these bets are almost risk free i.e. generally if the horse wins you make a profit and if it loses you break even. Even if  I were trading 7 days a week I doubt my profit would be much more. Lets say my bank grows by 5% thats still only £100. Hardly enough to live on. Even if you were trading at £500 each side of the trade (and youd have to hope youd get matched), which would be using my staking plan a £10,000 bank, youd still only make £500 a month. Okay yes £500 is £500 but thats not much considering the size of the bank.

I don’t think it is fair to say this system is rubbish as there is also Formula 1 trading, Cricket trading and Horse In-play trading (we wont talk about this one). Maybe you get better results with Cricket and Formula 1 but I simply cant be bothered with these sports.

The System X Trader System as most systems is taken up with the first third of the manual explaining about how to use Betfair. Lets be honest, most people are not going to be trading if they havent used Betfair before but I guess they have to have it for the few. If you are new to trading it does explain the Weight of the Money very well but if youve tried trading before or are all already trading then you don’t need this system.

Overall, I’d have to give System X Trader a Neutrall rating. A shame, and a disappointment. I going to carry on with the long term trading with my current bank and add £100 a month. In about 24 months time with a average bank profit return of 5% I’ll be able to look forward to £500 extra income. It’s another piece of ammo for my portfolio.

You can get System X Trader here:

http://www.cash-master.com/systemx.php

 

Filed under Trading by André Barber

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