TenKei Trading Techniques – Closing Review
After 23 trading days and 10 trading days in practice mode it is time to wrap the trial of TenKei Trading Techniques up.
What you get is the trading manual, and an additional pdf with updates in a question and answer style, a pdf showing how to set-up the charts and the signals, a spreadsheet showing how the compounding will make you massive profits and another excel spreadsheet to calculate the entry points.
Whether you are new to trading or not you have to read the manual carefully to make sure you have understood the system. I had to fire a couple of emails off to the author to clarify some points and received quick, polite and comprehensive responses.
You then really need to practice. As I am not a noobie to trading I practiced for only 2 weeks (10 trading days as trading is only open Monday to Friday) before playing with my money. In hindsight I perhaps should have practiced longer, but there are psychological aspects to trading (covered in the manual by a link to a web page) which do not present themselves until you have real money at risk.
The system is really very simple with entry point being determined by two signals. I used an entry 5 points away from the first signal and stops of 15 points. To remove some emotion from the trades a modest daily target is set. The system covers how to set a stop-loss and when to move this stop-loss to lock in a profit.
The starting bank was £100. I recommend that even experienced traders start with this sum, as mistakes will not cost large sums of money. As pointed out in the manual, if you have built your bank to the point where you are trading £50 per point, then youll have confidence in the system and wont panic at the large sums of money at risk.
The closing bank was just over £250. To be honest I made a several mistakes which set the bank back, otherwise this would have been a lot higher. There were also a couple of days where the signals did not work, and as no system can be 100% this is going to happen. The manual does cover this and suggests that you stop after 3 losing trades, and I also operate this policy.
My only criticism is the promised “less than 1 hour a day”. This is certainly possible some days, but other days it can take several hours to reach the daily target. If you have to go to work in the morning, and assuming you can put distractions aside such as getting the children to school (!), then you could operate this on the basis that if you don’t get a trade by (say) 09:00 you ignore the day. Obviously this will slow down the rate of bank increase, but it is do-able. There is a money-back guarantee, so you could get the system and see if you can fit it in to your lifestyle before committing.
However, 150% profit in 5 weeks of real trading in none too shabby. A £1000 betting bank would have made £1500 profit in 23 trading days, very much part time. I am very impressed with the ease of use, the support and the clarity of the written materials. As I will definately be continuing with the system once the Christmas holidays are over I have no hesitation in recommending that Graham places this in the approved section.
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