Reviewed By Ian
Following a good June where the system did exactly what the results history demonstrated it was capable of; July was a much tougher time, handing back, at least on my results, much of the gains registered in June.
To recap, I had June up £1,462, a return of 41.7% on a £3,500 account, which is close to the minimum size account trading at £10/pt. July I was down -£911, but you will see the recorded results from Mark Rose as a much smaller loss -£128. A substantial difference and enough to make me review my data versus that on the website. As stated previously there is no set time to open the trade, just between 7:05-7:50am. I’ve placed my trades, give or take within 30 seconds of the same time each day. More recently it seems the recorded results trade time has changed. It should wash out over time, but so far for me at least, my trades have underperformed those recorded. One in particular, and this could happen to any user of the system at any time, was placed at a price that was a few ticks different to the results. On that day the market fell and my trade was stopped out, but not on the results. This can happen, but it produces a big difference in performance. Of course it could happen the other way, my trade hits the take profit level to the tick, the results don’t, or avoids a stop loss. What we hope is that there is enough volatility during the day that for most users, regardless of their entry point, the stops and take profit levels are hit across the board.
Differences in entry and exit prices accounted for part of the disparity between my results and those shown on the website, around half. The rest came from the fact that Mark updated the system part way through July to exclude Monday as a trading day. Having already taken the trades on 3 Monday’s in July those losses for me are there, but for new users of the system and to reflect that change, the recorded results now exclude them. This is fine going forward, and a sensible decision as Monday’s produce a net loss to the system.
It would be nice to have an actual result that was a lot closer to those recorded, even accounting for the 3 Monday trades, which would add a further loss to the official results of -£315 + -£128 = pushing them to -£443 for July. If I add my trade that was stopped out versus theirs that held, this adds £379.5 difference. It would take the loss to -£822.50. The rest is made up of different entry and exit prices. You can see therefore how easy it is to have significantly different results.
Either way the system is still up over two months of my review, but if these differences in results continue then I’m not sure how I’d view it.
I’ve already had my fingers burnt by Mark Rose’s stable, so I am always very wary of anything which has his name behind it.
And who is to say that he didn’t manipulate the trades so that the losses weren’t anywhere near your level? There will always be differences in prices etc. based on trade entry/exit points, but there seems to be a large disparity between your losses and his. It’s a bit strange that his trade timings suddently changed.
Factor in that he’s already tinkering with the sytem by ruling out trading on a Monday, what’s he going to change next?
The only way he can have any credibility is if he proves his system through MyFXbook with his actual trades.
Good points raised by Paul H
Agree, timing is very vague and the CAC does move a few points between 7 & 8
Also, it hadn’t crossed my mind Re manipulation of results but now you mention it …………..
Yes FX Book totally
I have also had previous experience with Mark Rose`s products …I was horrified to see a positive review under my name as a result of this. I complained to him directly and received no response.
Another loss today @30 pips