I have been asked to review the Whale Programme which is offered by two guys from Magnetic Trading, Mark Austin and Cameron Malik. I was introduced to this opportunity as I have been a PIE user for many years and for the first time in 5 years Paul and Glyn actually recommended Magnetic Trading. From that recommendation alone I felt it was worth looking at.
Magnetic Trading trade on a chosen number of the financial markets, the FTSE 100, DAX, NASDAQ, Nikkei and the ASX.
They offer a number of different services and I initially took up the discounted offer of membership to their live trading room where Mark and Cameron hold a webinar from 07:45 through to 08:30 where they post any trades they are looking at and a review of the markets action. They are both clearly very knowledgeable in their chosen markets and for those who want to gain a clearer understanding of how a market may move or react then this is a helpful service.
They also offer the Whale service which is essentially their 10 most high probability trades across all the markets. It is designed to suit you wherever you are in the world as the Nikkei trades during the night in the UK so may not appeal to many here in blighty.
They also offer the Pro Trader Programme which provides direct access to both Mark and Cameron and is designed (and priced) for those who want to trade very seriously and make this their living although it has been made clear that trading the whale trades with their high probability should provide you with a very healthy return of 3-10% per month.
So what do you get for your money when joining the Whale Programme?
First you get a manual which details all of the trades and which markets they work on. You then get access to the learning centre where all the trades are taught via video presentations. You also get access to live webinars where the trades are discussed and any questions answered. These webinars are recorded and posted into the learning centre for you to digest when convenient and as many times as you want to or need to.
In addition each time a whale trade has occurred a review of the trade is recorded and posted into the learning centre so you can see the set up, compare it with the manual and begin to understand each of the individual trades.
Every morning you receive a Whale Report which details all the key highs, lows, resistance and support figures for each market and you then get an email alert each and every time a potential trade is setting up so you have the opportunity to log into your broker, refer to the manual and your daily report and set up the trade.
At the time the trade goes live you are expected to execute the trade yourself and follow the rules of each trade so you do need to go through the learning centre, watch all the available videos and read the manual.
Whilst there is a lot of support there is also a degree of expectation that you will learn the trades and execute according to a set of rules.
I began to trade some of the whale trades in June and began to record my results from the beginning of July.
The recommended risk per trade once you become proficient and setting the trade and understand them all is 2% risk, this can be up to 4% for some of the very best trades however after practising on a dummy account for several weeks my risk per trade was set at about 1% and very often I would come out of a trade early and secure profits. For this reason and the fact that you are not expected to trade everything and not all the markets everyone using this will get different results. It will also depend on your attitude to risk.
Just to give you a flavour, during July I made 14 whale trades, 12 of which were successful and I turned a profit of 3.95% on the month.
9 trades were on the FTSE 100, 1 on the DAX, 1 on the ASX, 2 on the NASDAQ and 1 on the Nikkei.
This is with a very cautious approach and there was more profit to be made if I had let some of the trades go on longer, it’s all about having the confidence in the trades and the fact that most of them have a hit rate of 80%.
I will keep you posted how August goes although I am on holiday for some of it.
My impression so far is this is possibly as good as Magnetic Trading say it is and a healthy return of 5% or more per month is very achievable. We did have a heavy losing trade last week hitting the bank for 5.7% and following an email to Mark and Cameron, who both live in Thailand, I received a telephone call from them which was helpful and showed to me that these guys are the real deal and do care about the service they provide.
A review of the losing trade was posted in the learning centre so they don’t hide when this happens and most of that loss has already been recovered.
Keep you posted.
More info HERE
Thanks for the update Tim, that’s very useful, I’ve been waiting for a progress report on this since the original posting.
With the Whale service of 10 trades, does the manual clearly cover how to spot these trades, the setup, stop-loss, target etc. or do you need to watch the videos to properly learn the ropes?
I’m a PIE graduate and looking for something to supplement that and I did get the emails from Paul about Whale, but at £4k for something which hadn’t been proved over a period of time, it wasn’t something I was prepared to take a punt on.
I also hear that the service will be going up in price to £6k in Oct which would rule me out altogether.
Hi Sorry for the delay in replying but I am away in Florida currently. The manual is very good but you really have to watch the videos as well to understand the set up. Also there are a number of other videos when there has been a whale trade so you can see the actual set up price action and where the market moved. The amount of instruction provided is very good but this some of these trades need a reasonable level of understanding so the more you study the trades and watch the training videos backed up with the post trade videos as well only reinforces each one so when you do get an alert you know which trade you are doing, what prices you are looking for and how to execute it correctly.
Thanks Tim, sounds good, am a Pie user and want to give this a go but have a few questions still? Am i right in thinking that after 14 whale trades, 12 of them won, but 1 losing trade lost much more than all the 14 together? 5.7%?
Hi Luke sorry for any delay but am on holiday at present. July provided me with 14 trades 12 of which were successful and a profit on the month of 3.95%.
The losing trade was in August. When I get back I will provide an update on August performance and I will compare this with the results from Magnetic Trading for you and the two full months of trading. Despite the losing trade August did make a small profit.
Look out for the Augaust update in a few weeks
Hope u enjoying sunny Florida and thanks for the update.
I am just wondering how this will do longer term. Also a bit concerned that u had a 5.7% loss trade, whereas the whole of July got about 4% …. one juicy loss can wipe out all the gains for the month !
I guess one has to look at the longer term, but for someone like me who wants to do this for a living, I am wondering how it will work.