Turnaround Trader Review

| August 26, 2011 | 208 Replies

Product Name: Turnaround Trader

Author: Guy Cohen

Company Name & Contact Details:
Sold on behalf of FlagTrader.com by Agora Lifestyles Limited
Codestorm House,
Walton Road,
Farlington,
Hampshire
PO6 1TR.

Headline:

‘When You Get a Letter Like This You’ve Just GOT to Sit up and Take Notice!’ A few weeks ago this letter arrived at my office. I was a bit angry when I read it but I print it here exactly as received (although I have blacked out the swear words!

Price: £197

Money Back Guarantee: 30 days

What Do You Get?
– Manual
– Access to members area
– 13+ Bonuses which will be sent every few days via the website
– Complimentary videos on the website (with more details, and shows you how to trade with your spread-bet account or broker).

Brief Summary:

Turnaround Trader by Guy Cohen focuses on stock market trading. The system teaches you how to spot the signals that indicate a particular stocks’ trend is about to turn so that you can place your bet and profit from this reversal.

Recently Guy Cohen was challenged by a member to produce an inexpensive trading course that could return the user around £2000 a month.

With so many high priced courses failing to deliver, it was quite a challenge. Especially when part of the challenge was that it should be suitable for novices and with no large time commitments.

Here’s what I found when I took a look at Turnaround Trader.

When you get your package, you’ll find a manual which is just 60 pages long and on first glance I was underwhelmed.

Although this course is cheaper than many others, I was expecting to swamped with material. But this actually worked in my favour, it enabled me to get fully into the course in about two hours.

You see, Guy just focuses on what I must know right now and teaches that material. So I got straight into it.

I don’t pretend to be a trading expert but I picked this up with ease and I think a novice would be fine trying this course.

In addition to the manual you get Guy’s TradeFinder software, this cuts out the research and it’s a good simple addition, so you can trade quicker.

This software makes things a whole lot easier. And normally when I hear the word software I go a little cold with fear of technology. But this is pretty much a drop down menu and a series of tick buttons that filters
your potential trades.

The whole idea about Turnaround Trader is obviously in the name. Guy teaches you how to find stocks that are trading in one direction and are about to change.

So a share that is in freefall could in theory be ripe to turnaround and boom and you can easily spread bet the direction for potential profit.

Guy focuses only on the biggest shares, the largest companies which actually show this type of trend less often. As you know big companies are settled and don’t chop and change direction too often. So this means you get less signals, but those you do get should be far more accurate in the long run.

This is done with basic technical analysis, no worrying about the news or any of the fundamental things which can influence share prices.

I personally prefer this route, because if you focus on too many things at once then I often find it hard to make a trading decision. This course is aimed at trying to cut your decision making down to a minimum.

The key to this course is something called Doji bars. No, this isn’t some health food snack but a technical term, which basically means that the open and close of a trading bar are similar.

But you don’t have to worry about that.  Really a Doji is known to be the key point of a market changing direction. It’s pretty straight forward and quite simply you are looking for Doji formations for your trigger to enter a trade.

And if you think this sounds hard, it’s not, you see Guy made a clever move. His TradeFinder software actually highlights all the shares which are showing a Doji forming. So there is very little work for you.

There are two main strategies to follow. The first is looking for a potential reversal from a Doji low. So spotting shares which could bounce back and make profits.

With this one you are looking to make some money quickly and reducing the risk as soon as possible.

Guy shows a good example of how trading £2 a point you could have returned £254 inside a day with the first strategy. Then by running the strategy a little further you could have returned £4,819 over just 21 days.

The second strategy is pretty much like the first but it takes you into the trade when it looks a little more certain, and it gets you out later, when it looks like market is turning again.

So with the second strategy you have potential to make much more because you are running your profits rather than taking cash off the table.

Using the same example, Guy shows how this second strategy would have returned you a massive £9,706 over the same 21 day period.

That’s from just one initial trade set up. Of course, you will have some losers with both strategies. However, Guy shows good use of money management and how you can protect your trades with clear stop loses.

So I certainly think it’s possible to make £2000-£3000 a month like Guy suggests and the examples in the guide certainly prove this. But you have to know those figures are based on people with larger trading banks.

Those with around £1000 starting pot I’d expect to be aiming for smaller wins but still making few hundred pounds extra a month.

This is perfect for those people who just want to look at a trading strategy each evening for just a few minutes. Starting out it will take you up to an hour to work through the strategy.

However, with a bit of practice I think you can cut this time down quite considerably so it’s something you do perhaps do before bed.

I’ve had a few questions over the weekend and I’m happy to answer them. If you too have a query, drop me a line and I’ll do a full Q & A session later this week.

For now I like the potential behind Turnaround Trader, because it is a proper trading tool and in theory makes good logical sense. It’s certainly something I want to test out more and I know that Guy’s courses usually deliver good results.

You can get a 30 day trial and Guy is always excellent with guarantees.

Another thing I haven’t touched on yet is the bonus items that Guy includes with this offer. Unlike other people the bonus items you get are not fluff and filler.

The bonus material is tailored so that you progress and take the next step after each bonus item is delivered, you don’t get everything at once, so no danger of getting overwhelmed. Overall you get about an extra dozen items given to you for free, and with a value close to £2,000.

This is excellent, I’m only just into the course and the bonus items are starting to come along but I can see this being very beneficial and it’ll enable you to learn as you go and become more successful.

Turnaround Trader – Recommended

Turnaround Trader – New Review – 2015

We have been asked to conduct a new trial of this service by several members who have expressed an interest in the product. So, I got one of our expert trading reviewers to take a look – here’s his new review…

What Do You Get?

You get various items with this product:-

(1) A 58 page manual forms the main part of the system. This is made available immediately by a downloadable pdf that is also sent in the post as a hard copy.

(2) You get access to the “Inner Circle” on their website. This contains a large collection of video tutorials and runs the “selection tool” that identifies and notifies the trading opportunities. This site also hosts a number of videos with “bonus” information that is drip-fed to the user on a timed basis over the first 30 days.

(3) You have email access to the owners for additional advice.

(4) There is an opportunity to join the Twitter Feed to receive occasional urgent information.

After joining you receive a welcome email with full details of all of this.

What Is It All About?

This is a course with one main aim – to identify stocks that are poised to reverse direction by recognising various signs and signals which indicate that trends are likely to change for the opposite. You then place either an Up or Down trade on the stock to stop at a pre-defined target.

The author states “I don’t want you to see this as just a manual on trading; my passion is to help you to achieve what I have achieved – financial freedom and enough money to enjoy the good life. To that end I want you to see this as a gateway into the exciting and lucrative world of trading.”

The system concentrates on spread-betting opportunities in the American “S&P 500” share market and other U.S. shares. It sets out to identify turning points in the market – points where a particular share will stop rising/falling and move in the opposite direction. At this point you place a spread bet on this predicted move and use their strategies to secure your profit and place Stops to keep any possible losses to manageable levels.

Each day the software (accessed only within the website) produces a list of suitable shares that may be good trades and there are two different methods of choosing these opportunities; both use the Doji as the trigger for these.

The search is usually available before 12 noon each day although the timing does vary. It must be stressed that it does not simply give you a list of trades to blindly follow.
You need to work out for yourself which of the “tips” are the ones to pursue and the course spends time to educate you towards making these decisions.

This means that all users will not necessarily be making identical trades although I suspect that there will be much similarity most of the time. The system provides various strategies for staking and managing the trades and it is this that I believe will create variety in practice and which will therefore produce different results.

The website generates several very helpful charts for a chosen share with links to other sites for current prices. They also provide additional resources in the form of videos that are released on a drip-feed basis at a rate of one every few days. These are designed to enhance your understanding and to provide additional tools and charts. There are 12 of these spread out over 33 days.

Once you’ve studied the manual several times it should be possible to identify these opportunities without using the website so that should make it possible to apply the theory to other markets. The website does, however, remove the hours of work needed to search for these.

Do I Need Experience To Make This Work?

Not necessarily. Obviously some knowledge of shares and trading will help but the manual and videos explain everything carefully and I think that the complete novice will be able to get to grips with this although I must stress that they will have to work at it as this is not a “10 minute magic formula”.

I came to this with some experience so it’s hard for me to be certain of this. One thing is certain – with application you will acquire knowledge.

How Much Money Do I Need To Get Started?

There is no “advised” bank in the course material. Early indications are that you should budget for a betting bank of at least 1,000 points as you will to satisfy the online bookie’s liquidity rules.

How Much Money Can I Make?

The advertising claims “£3,000 per month”. This will not be realistic for everyone as it depends on your staking. If you use £1 per point stakes then I don’t see you making this amount. It is all about Risk & Reward.

How Much Time Will I Need To Make This Work?

You will probably need an average of around 30-45 minutes per day. It should be noted that the U.S stock market operates between 2.30 pm and 9 pm our time so this does not involve getting to your computer before 8 am every day. I’m sure this will please some people, but may also make it harder for others to follow this if they are unavailable at those times of the day.

My process is to log on to the website in the morning (the website generates the “tips” by mid morning); analyse the data to select any bets during the morning and place my
trades any time before the U.S stock market opens.

Once set the bets can be left unattended for the rest of the day. You then need to check on them and make any adjustments before the next afternoon. Trading only occurs Monday to Friday and in my experience so far there are 1 to 2 trades per day.

Will I Need Any Equipment To Do This?
No specialised equipment is needed. You do need two things :-

(1) A computer and a broadband connection.
(2) A suitable online trading account – they recommend IG Index and this is the one that I use myself.

Value For Money?

It’s still early days – I’ve only been testing this for a month.

Does It Live Up To The Claim In The Promotion?

Yes, so far.

Quality Of Customer Service:

This has not been tested yet.

Full Review – 15/05/2015

After the first four weeks of trading, I’m very impressed with the performance as there have been 30 trades clearly indicated with 28 winning bets and just two losers. Bets have lasted between 10 minutes and 5 trading days before hitting their target.

Some of the trading strategies involve taking half profits at the target mark and leaving the rest to roll, sometimes for many days, to take advantage of any big rise or fall. I adopted a short term strategy – terminating the full trade when it reached the prescribed target and I decided to use their “Railroad Tracks” system which I identified as the simplest to follow.

The profit so far is 1,577 points from 30 completed trades, averaging 53 pts profit per trade, and this is a terrific performance so far.

My only negative is that the website can be a bit “flaky” in operation – you need to check back regularly during the morning/early afternoon as the bets are indicated at different times of the day – on one day they were not shown until after trading had started!

Also the site is a bit confusing as it’s not always clear that it is actually working and doing the search – this could be improved upon I think.

On the plus side (apart from those impressive results), there are numerous “extras” provided in the form of training videos. These are drip-fed to you over the first 35 days and I am currently working my way through these and will provide comment in future updates to this review.

Still, overall it’s bee an excellent start. Can we keep this up? Well, let’s see how it develops over the coming weeks.

You can see a full breakdown of my results so far here:

Turnaround Trader Results 2015

Full Review after 13 weeks trading – 31/07/2015

I’ve now been trading the “Railroad Track” System for 13 weeks so it’s time for a detailed update on performance.

It didn’t keep up it’s impressive start but still ended with a Level Stakes profit of 1,793 points, which averages at 137 points per week.

This is still a good performance, although it has to be noted that it made all it’s profit in the first five weeks and virtually stood still in the subsequent eight weeks.

First, let’s look at the results:

Final Statistics:

– 13 weeks trading
– 11 winning weeks
– 2 losing weeks
– 79 trades with 12 losers hitting the Stop (85% success rate)
– Average of 6 trades per week
– Level stakes profit = 1,793 pts – av. 137 pts per week
– £1,000 starting bank now stands at £4,137 using 0.1% stakes
– Longest trade lasted for 11 days

Hoe Does It Work?

You go online each morning to access the web-based software to filter the betting opportunities. The best time to do this seems to be around 11am, although any time before 2pm should work well.

The software highlights the stocks that exhibit clues which indicate that the price is about to turn in the opposite direction. This is a very straightforward process and just requires viewing the online charts and recording the High/Low/Open/Close figures in order to work out the details of the trade.

You will now have a list of stocks to trade and you have all the necessary information to place the trade – Up or Down, Entry Point, Profit Target, Exit Point and Stop Setting. The bet should be placed before 2.30 pm each day (I use IG Index) and can then be left to run.

There were many occasions when trades never started due to the entry point not being met; these were cancelled manually after one week and do not feature in my statistics. On many occasions the bets started and closed on the same day, some lasted for 2 or 3 days and on one occasion it went for 11 days before winning.

There were 79 trades, of which 12 were losers so it had a 85% success rate. This sounds good but when losers hit the Stop it was usually for over a 100 pts loss so you need the high strike rate to keep your head above water.

By increasing stakes at 0.1 % of a betting bank, a £1,000 bank grew to £4,137. It should be noted that all the profit was made during the first 5 weeks and in effect it stood still for the following 8 weeks.

The good news is that the website has now been improved to show a bar which indicates that a search is underway so that has rectified the slight problem identified earlier.

Concluding Thoughts

In order to live up to it’s claim to make £3,000 per month this would have needed stakes of £5 per point. This may be possible if it comes out of profits after several months of trading but initially it would be a big risk for many, as the Stops being used can result in an average of 146pts loss which would equate to £876 being lost on one trade.

It all depends on your betting bank but it appears that with several bets running simultaneously (I had a maximum of nine at one time) you would need a sizeable bank lodged with your bookie to maintain liquidity – with IG Index I would need at least 4,000 pts with them to cover potential bets in-play plus the required margin.

The “Extra Resources” are useful and interesting although they are not essential to working the system. Some of them are a way of promoting some of his other services.

It must be stressed that the comprehensive manual explains several strategies for using the website software and I’ve picked out what I consider to be the most straightforward and easy to operate. Undoubtedly everyone using this system will achieve different results from the various strategies as they depend on individual choice of targets for profit taking.

Some of the strategies involve much longer-term trades with partial profit taking, moving stops etc. I opted for simple scalping – set the target to 0.3% of the High-Low range and cashing out in full when it hit the limit.

The system does live up to it’s claim to educate. It is possible to pick up a lot of information from the manual and the videos, although I think that it would take up a huge amount of time if you wanted to find the bets yourself without using the software. It’s not impossible though.

Is It Worth Having?

Yes, I would recommend this as the profits are very acceptable, although I temper that with some caution.

You do need a fairly substantial betting bank to achieve decent returns as you will probably have occasions when there are many on-going trades. I’m disappointed that it didn’t continue at the same level as it performed in the first five weeks and I will be continuing to monitor this as I feel that I need to see another three months to ascertain whether my start was a “flash in the pan” or whether it is the last few weeks of stagnation that have been unusual.

It’s a sound system, based on some good logic and the resources are of good quality.

There is the usual advertising hype regarding possible income level,s which are not particularly realistic from a standing start. However, starting with a £1,000 starting bank, and using 0.1% increasing stakes, I would be showing a profit of £3,137 and would now be using stakes of 3.9 pts which could generate up to £534 per week as an average at £1 per point. Not too shabby!

At the price of £197 it’s not too expensive either compared to many other services and it’s market is different to the usual forex and could be a useful addition to someone’s trading portfolio. I can recommend it.

You can see a full breakdown of my results here:

Turnaround Trader Results

Full Review – 23/10/2015

I’ve now been trading the “Railroad Track” System for 26 weeks so it’s time for a detailed update on performance.

I’m very impressed with the performance as there have been 163 trades clearly indicated with 146 winning bets and 17 losers.

Bets have lasted between 10 minutes and 5 trading days before hitting their target. Some of the trading strategies involve taking half profits at the target mark and leaving the rest to roll, sometimes for many days, to take advantage of any big rise or fall.

I adopted a short term strategy – terminating the full trade when it reached the prescribed target and I decided to use their “Railroad Tracks” system which I identified as the simplest to follow and so it proved.

This identifies “2 day hammer” and “2 day shooting star” dojis that show clear extremes in prices over at least 20 trading days and these are used to predict turning points for the share to move in the opposite direction.

It proved to be very specific in identifying bets and leaves little room for diversification. They recommended using targets of 38% of the price movement but I decided to err on the side of caution and used 30%.

The profit so far is 6,107 points from 163 completed trades, averaging 37 pts profit per trade, and this is a terrific performance. Good news is that the website has now been improved to show a bar which indicates that a search is underway so that has rectified the slight problem identified earlier.

There are numerous “extras” provided in the form of training videos. These are drip-fed to you over the first 35 days – these provide some good additional information to increase trading knowledge although they are also trying to encourage you to buy additional services.

First, the statistics :-

26 weeks trading
24 winning weeks
2 losing weeks
163 trades with 17 losers hitting the Stop (89% success rate)
Average of 6 trades per week
Level stakes profit = 6,107 pts – av. 234 pts per week

It is interesting to note that it made 1,577 pts profit in the first 4 weeks but then almost stood still for the next 10 weeks, making only a further 313 pts profit in that time. From week 15 it took off again to reach the 6,107 pts by week 26.

As you can see, there were 163 trades of which 17 were losers so it had a 89% success rate. This sounds very good but when losers hit the Stop it was usually for over a 100 pts loss (the worst loss was 246 pts) so you do need the high strike rate to keep your head above water.

CONCLUSION

In order to live up to it’s claim to make £3,000 per month this would have needed stakes of £3 per point.

This may be possible if it comes out of profits after several months of trading but initially it would be a big risk for many as the Stops being used can result in an average risk of 198 pts lost which would equate to £594 being lost on one trade.

It all depends on your betting bank but it appears that with several bets running simultaneously (I had a maximum of eleven at one time) you would need a sizeable bank lodged with your bookie to maintain liquidity – with IG Index I would need at least 2,500 pts with them to cover potential bets in-play plus the required margin.

This is important and is something that is usually totally ignored in the marketing materials. I guess that many people would want to start with a bank of £1,250 and 50p pts or £625 bank and 25p pts.

Is it worth having?

Yes, most definitely. I would certainly recommend this as the profits are clearly excellent although, as I said in my last update, I do temper that with some caution.

As I’ve said before you do need a fairly substantial betting bank to achieve decent returns as you will probably have occasions when there are many ongoing trades. But if you have this then you should go for it as it’s a sound system, based on some good logic and is is very straightforward to follow.

From accrued profits I have now reached the level of using £3 points so I am averaging around £3,000 per month profit.

Definitely recommended. I do think that this could be operated by most people with a bit of effort and I for one shall certainly be continuing with it !

You can see a full breakdown of my results here:

Turnaround Trader Results

Email

Tags:

Category: Stock Market Trading Systems, Trading & Investing, Trading Systems

Comments (208)

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  1. sidel8 says:

    Hi Jack,

    how long before the review for this is up?

  2. pipman says:

    Anyone using it yet?

  3. mehtah says:

    I’m about to order it today.. I’ll let you guys know how I get on.. You can’t really go wrong becuase If it doesnt work then you can get your money back within 30 days so you cant really loose? Sounds really good I must admit

  4. scorpioeyes says:

    whats annoying is that the website gives no results nor the facility to ask anyone any questions before buying e.g. is this spread trading? how long do you have to respond to the info posted each day? how long are trades? i hope jack can cover these in his review!

  5. tom42 says:

    @scorpioeyes

    If you click on the link near the bottom of the website, as if you are going to pay – you will go to a secure payment site. At the bottom of that is a link to ‘ Our Guarantees to You ‘. On that page is a paragraph entitled ‘ We Welcome Contact ‘ ………………….

  6. herbert says:

    when will a full review be available. eb

  7. tigger says:

    am eagerly awaiting full review of this system

  8. tmc101 says:

    I’ve bought it and just had the email with the site and password. It looks simple enough, but then again I am a complete noob to this. Hate to admit but the sales email reeled me in what does everyone else think?

    Tim

  9. tom42 says:

    @tmc101 as you now have it, perhaps you could answer the generic questions posed by scorpioeyes in a previous post. Ta.

  10. coolerking says:

    I also got reeled in with sales patter but have not ordered just yet as waiting for some solid feedback before buying.I always leap in before
    reading reviews from you Guys and have around 50 and upwards sure fire earners that never were.
    Please keep us posted of progress of this one.
    Cheers Guys and Ladies.

    Coolerking

  11. scorpioeyes says:

    Mehtah-yes you can get the cost of the system refunded,but what about the money you may lose in the actual trades? you wont get that refunded!thats why a money back grntee is no reason to jump in head first.
    thanks for the tip,Tom.

  12. coolerking says:

    In the sales talk it says Guy will Email alist
    of probable trades and you decide which ones to trade.This does sound a bit like lucky dip in
    knowing which ones you are going to pick.If there were 6 trades given for instance do we back them all or throw numbers in a hat on which ones to pick.Please help me out on this one or am i getting a bit paranoid regards systems?

  13. scorpioeyes says:

    this is the email i sent to the address at the top of this article:

    before purchasing i would like you to kindly answer for me:
    where can i see past results?
    if you suggest say 6 trades a day,is it lucky dip?
    how long do trades last?
    time gap between website advice and expected turnarround?

    thankyou

    lets see if i get a reply that makes sense,or even a reply.i am scepital not least because i have found out that this is american,DELETED BY MODERATOR

  14. scorpioeyes says:

    heres the answer:( noter that the references relate to flag trader,not turnaround trader.

    Thank you for your interest in Turnaround Trader.

    We do not publish past results per se as members make their own trades, but we have a number of testimonials that members have sent to us:

    http://www.flag-trader.com/Testimonials.aspx

    An example that you can see is BAC in May where a doji formed and a reversal happened, and this is what you would learn to trade in the course.

    We do not suggest a set number of trades per day. We process through millions of rows of data each night after each trading day to shortlist the stocks that met the criteria that Guy has set, which gives a higher probability of the trade turning out. Guy’s methods are all about increasing probability of a successful trade, not depending on luck.

    Trades can last for hours to weeks, depending on the stock price movement and also your trade management.

    With reversal trades, if the trade is to trigger, this should happen within a few days, then you would move on if that does not happen. All these will be taught in the course.

    Hope this helps. If you wish to purchase, I have included the subscription link here for your convenience:

  15. Haz says:

    Hi All,

    I wanted to post my update from their help desk as I needed clarity around the size of the starting bank to generate gains of £2-3k per month.

    “How much money can be made each month will depend on the market and members’ own trading activities in addition to the starting capital. Therefore, it is hard for us to give a ballpark figure for starting capital as each month will be different.”

  16. mehtah says:

    scorpioeyes Yes I totally agree with you. Can we not paper trade to start of with? What do you think? We need a full review on this system really. tmc101 you mentioned you have brought this system have you tested it out yet?
    Regards
    mehtah

  17. dmac says:

    I have purchased, and although the book explains the method, there is absolutely no guidance about how to place trades, or risk management, or how to access all the bonuses that are unlocked over time… i am trying to get response to emails, and will try to call them (USA hours).
    I was very hopeful but am slowly getting discouraged… but will see what the support is like.. (for those like me who don’t have large capital to risk the amounts needed to open trades on US stocks on daily time frame.

  18. Dano51 says:

    dmac, if you look at the bonuses area, there’s videos about managing trades, managing profits, mind of a trader.

    slight issue is that these bonuses are staggered but i asked for one of the videos to be unlocked early and they were able to do that for me. maybe ask them if you can have those ones unlocked early for you?

    i’d guess they’re staggered so as not to overwhelm which is probably quite sensible as it is a small product compared with others at much higher prices.

    i like the method – have seen similar from very reputable traders so it stacks up – the difference here is that there’s the website app that helps find the opportunities so looks like good value to me at 197 – still needs my discretion and input, but i’d expect that.

    anyway, see what they say – seemed friendly and helpful to me and he does have a good reputation. i think most people on here will be ok with trading allocations and how to place trades. you can always ask your spreadbetter too how to do that.

  19. earthconnect says:

    Anyone have a rough figure of a starting bank? £500?, £1000?, £5000.
    And also fair point about which trades you choose to take, I can see it being a bit of a lottery and some what frustrating if you choose 3 looser and the other 3 plated out.

  20. Dano51 says:

    hey dmac, i just noticed on the top of the turnaround website there’s a link to an ig index video. sounds like that’s your missing link.
    dk

  21. tabithacat says:

    Yes, a full review of this system will be welcome. Overall, I can say that Guy is highly reputable in trader education.

    Just another point: Agora, who are distributing this product, are indeed an American company but they have a London office. Their customer service is quite good and the money-back guarantee is always honored.

  22. Dano51 says:

    just noticed they’ve now put up a whole new section (on the turnaround website) of video trade examples … not bad response that.

  23. Frogsrock66 says:

    is looking for another income stream, any ideas would be greatly appreciated, what’s the best thing anyone can recommend that works and doesn’t cost an arm & a leg! Thanks 🙂

  24. Dano51 says:

    just got an email earlier saying about the extra videos on placing trades and a selection of trades.

    this plugs the gap nicely. have to say it’s impressive how quickly they responded and with good content too.

    so far it’s a thumbs up on all counts.

  25. tom42 says:

    to earthconnect –

    quote taken from sales page –

    “Look I’m not saying anyone can do this. You need a PC. You need to be comfortable getting onto a web site;

    you’ll need about £250 in stake money

    and you need to do the ten minutes a day to place your trades (surprisingly, many people do not have the discipline even to do this!)”

    ?

  26. 2467chris says:

    I have bought and have a fair amount of forex trading experience, but do feel a bit in the dark. No mention of risk management, so if I didn’t already know about this, it would be easy to risk far too much. Also not sure how a small trading account will work as stop losses look like being large – the range of a daily candle.
    What do others think?

  27. Dano51 says:

    chris – i received an email from them on friday – there’s videos on the website all about risk management, spreadbetting, and i’ve also see their “turnaround trades” videos now.

    i also tried out their tradefinder thing on friday morning and out of 20 that came out of the filters, 17 completely reversed direction as expected – shame i had nothing on them. the other 3 didn’t look quite right.

    that’s pretty good — the stocks that came from the filters were

    azo, bxp, cvx, eqt, lh, ma, mjn, nem, nrg, pbct, pcln, qcom, rrc, spg, urbn, v, vfc, vno, wpi, zmh

    really pretty good, i’m quite impressed for such a low price.

  28. moles40 says:

    to earthconnect –

    quote taken from sales page –

    “Look I’m not saying anyone can do this. You need a PC. You need to be comfortable getting onto a web site;

    you’ll need about £250 in stake money

    and you need to do the ten minutes a day to place your trades (surprisingly, many people do not have the discipline even to do this!)”

    Sales-letters mean jack-stop falling for the hype!

    DELETED BY MODERATOR – PLEASE ONLY POST ACTUAL EXPERIENCES OF THE PRODUCT IF YOU HAVE USED IT, NOT JUST ASSUMPTIONS.

  29. dadclark says:

    Hi I purchased the course and I am sorry to say it seems VERY like Flag trader just a slight tweek here and there, compared to the sales letter that said he would do ALL the work, well no, yes he picks ( his program) picks the likely trades then it is up to you, I thought he would email/text a trade to put on (as per the way his sales letter went) It may be easy, but so far on the ones I have picked not very good results, and not easy to see if it will/wont work, not for me I am sending back for refund.

  30. Dano51 says:

    dadclark – i’ve had a different experience in that my picks from thursday/friday did really well. there were about 20 dojis on that day alone, of which 17 reversed as hoped for. also, there’s nothing about flags in this. i don’t have flagtrader but this is obviously a different strategy.

  31. ncoyne says:

    Any updates on how this product is doing, would love to here some feed back on this

  32. moles40 says:

    So can we here from all the people earning 2 thousand to 3 thousand pounds a month as guy cohen says you will using his system.I wont be holding my breath!!

  33. henryc says:

    Guy states you dont need a 10k betting bank, and talks of starting with £250. 2-3k a month from a £250 bank? I have emailed Guy on this point and awaiting a response.

  34. plowright123 says:

    I am on the verge of purchasing but really would like someone whom has tried and tested the system to give a constructive review based on actual earnings and ease of use for others like me to decide whether it is worthwhile to go ahead. Thank you.

  35. morse says:

    has anyone taken any trades ??There are reviews out there I am google-ing his name see what I get.

  36. morse says:

    NOBODY is going to sell you a golden ticket. You can accept that or keep day-dreaming, your choice.

  37. plowright123 says:

    It seems that no one has tried and tested this system as there are no reviews just questions therefore I think the conclusion on this one is no news is bad news.

  38. thursday09 says:

    Hi Jack

    Having read your report on Turnaround Trader I am concerned about the recommended minimum starting bank.This is not mentioned in Guy Cohens literature.What are your thoughts for a minimum starting bank?

  39. hammersnut says:

    Just saw the email today from Jack Whiteman at
    More Money Review regarding turnaround trader and it sounds like a good bet considering some of the reviews on here. I’m new on here and was wondering why after the review he has an affiliate link to Guys site so as to earn a profit from it? I’m hoping he’s endorsing it beacause it’s good and not to make a few quid?

  40. Jack Whiteman says:

    @thursday09 starting bank can be whatever you like, with some spread betting platforms like shortspreads you can trade from just 20p a point, so could use a smaller bank of a few hundred pounds.

    But doing so you will of course return less money each month on successful trades.

    Really for trading i’d say you would want a bank of £500 and that goes for any product.

    @hammersnut you can buy this product from many places. I recommend products that I think are good, simple as that. There are over 1000 reviews on this site and you will see that 99% of them carry no links at all. Even many of the products on here which get a good press we carry no link, purely because I’m not using them.

  41. hammersnut says:

    Thanks for the reply Jack, as I said I’m new on here and just wanted to make sure but thanks for you’re honest answer and explaining the reason why. Please keep updating us with your progress as I’ll be following closely and I’m sure so will many others. All the best

  42. Jack Whiteman says:

    @hammersnaut no problem. if you have specific questions let me know. Guy has offered to do an interview with me, so I’m happy to do a Q&A sessions with him for members.

    send questions to email address shown at bottom of the page.

  43. patoloco says:

    I received my copy today via: http://www.guycohen.com/us/Turnaroundt.rader-letter.aspx(NO I AM NOT AN AFFILIATE). It’s on sale for $297, which at the time of purchase was £193.48 (better than £197).

    I’m quite optimistic about this!

  44. ncoyne says:

    So can we here from all the people earning 2 thousand to 3 thousand pounds a month as guy cohen says you will using his system.I wont be holding my breath!!

  45. earthconnect says:

    I recieved my copy a few days ago and although not new to trading (mainly forex), I think it would be a wee bit on the tricky side for a complete begginer. It is pretty stright forward but there’s not alot in the way an explination as to how I can get these indicators onto the yahoo charts he says are all you need (the OVI etc.), it looks like the charts on the videos are from sharescope or some other paid for charting package. I’d like more info on placing trades ie. would you take out two seperate positions if you are to close half of your trade at profit target one, as you would have to moniter the trade if not and really goes against this whole ten minutes a day i think.

  46. moles40 says:

    Still waiting to hear from everyone earning between 2 thousand and 3 thousand pounds a month………….

  47. moles40 says:

    for only 10 mins work every day………..

  48. Jack Whiteman says:

    Moles40 If you’ve tried the product then please share your experiences. It’s getting a bit boring hearing you repeat the same old thing time and again but without adding anything to the discussion.

  49. Adrian says:

    A question for Guy: Some months ago I opened a ShortSpreads account & was told that I would not be able to spreadbet properly, until I was practised in the noble art. There was no guarantee that, with practice, I would be taken on board. Am I likely to come across this problem again? I hope not as the “Turnaround Trader” does appear to have distinct possibilities and a desire to sign up shortly is clearly visible on the horizon! Ship Ahoy! Cheers Adrian

  50. ncoyne says:

    I agree jack with u all these posts and not one of the talks about results

  51. hammersnut says:

    Jack, see if you can ask Guy if he has a current case study who is earning the amount he quoted i.e. 2-3k monthly. Also what pot amount they started with etc and if it is a newbie who is not using any other charts/software.

    I personally would be happy to just be earning half that amount each month and then add it to the pot to make it bigger.

  52. sterling154 says:

    im abit worried with the contact details,
    swindon is in wiltshire and not dorset as stated in the contact details.?

  53. Jack Whiteman says:

    @sterling154 – sorry that would be my error. I was never good at geography at school!

  54. ncoyne says:

    any results, would love to hear how you are all getting on with this product

  55. moles40 says:

    Jack Whiteman says:
    September 20, 2011 at 7:19 pm
    Moles40 If you’ve tried the product then please share your experiences. It’s getting a bit boring hearing you repeat the same old thing time and again but without adding anything to the discussion.

    Just trying to prove a point Mr Whiteman.If this system is so amazing as Mr cohen claims then shouldn’t we be seeing lots of posts from people making all this easy money he claims for 10 mins work.

    Where are they then?

  56. Jack Whiteman says:

    give him a chance moles, the product only just went on sale. Most people have had the product about 10 days…

    I don’t think the money is easy to make, but I do think his idea has potential. YOu have to look at the sales letter and then look at your own trading bank. if you have £10k then I suspect you can make the sort of money guy says.

    Have you ordered the course? it’ll be interesting to see what you think if/when you sample it.

  57. ncoyne says:

    any results, would love to hear how you are all getting on with this product-

  58. Tisoki says:

    Hi, to all those who have purchased the system what do you make of Guy’s comments about Reversal Trading in his video Major Chart Patterns. He seems quite dismissive. Your interpretation would be welcome.

    Apart from that a very professional package but needs time to absorb if you are new to trading/spread betting but can see possibilities of hitting monthly targets given a bank of say £2000.

  59. hammersnut says:

    Jack, any update on if ur going to have a Q & A session with Guy about this system?

  60. Jack Whiteman says:

    @hammersnut – other than your own I’ve not really had much in way of requests for questions for the interview. If anyone wants to ask anything let me know. either here or at the contact me button at the bottom of this email address.

  61. hammersnut says:

    Jack, if there are no questions from the other members just see if you can get an update from Guy on how his members are getting on and what size pot their starting with. I appreciate he’s busy but see what you can do.

  62. hammersnut says:

    OR see if he can get this D. Godard who wrote the letter to him to post on here as the quote below is supposedly from him after using the system. Surely Guy can ask the chap to speak on his behalf for helping him?

    “PS STOP PRESS. Since writing this I’ve had this email from Mr Godard. “Hi Guy. On my first 5 trades I have made $856. It’s a start. Cheers mate.”

  63. golfman01 says:

    Guys, obviously everyone has their own views, but I’ve had a positive experience with this so far. I have never traded stocks before, other than buying shares in companies based on ‘tips’ from friends which over the years have lost me more than I’d care to own up to! Right now I am in a very challenging financial situation, as lots of us probably are.

    Having thought about it and done a bit of digging around, I decided to give trading a proper try, and having looked at various options, I purchased Turnaround Trader (following a recommendation on another site)around three weeks ago. I have to say I’ve been impressed. I have adapted one of the two suggested trading strategies to suit my current situation, and have been extremely conservative in my profit targets for each trade, especially as I am learning as I go along. I know that the markets are volatile at present, which is good for a system that deals in shares prices changing direction, but so far, starting with a bank of £1,000, and doing approximately 30 to 45 minutes of work early each morning before I go to the office (the system is based on US stocks so effectively you have until 2.30pm each day to do your research), I have made 12 trades, of which 10 have been profitable (max £187) and 2 produced losses (max £194). Without sitting in front of a screen watching the prices all day, I am showing a profit of £559 in two weeks of trading (£362 if you deduct the cost of the course), which is a great result, averaging about £45 per trade. Of course, it is early days, and maintaining a disciplined strategy and not getting greedy is key, but the system is so logical and doesn’t require huge differences in share price to work well, so I am extremely hopeful it can continue to show similar results. Once I’ve placed the trades, I don’t need to do anything else as they will take the profit (or stop loss) automatically.

    £1,000 of additional tax free income every month would make a huge difference to my life right now. I know the mentality of trading (which is basically a form of gambling) is not for everybody, but I have to say, this could easily turn out to be the best £197 I’ve spent on information products. It requires slightly more research and effort that the advertising says, but for me that’s a good thing, as if you were just spoonfed a succession of profitable trades with zero effort everyone would be doing it!

    For anyone considering trading, I would definitely give this a go, and as other posters have said, at least you can read it, see if you think it might suit you and send it back for a refund if not.

  64. golfman01 says:

    Sorry, one more thing I forgot to add. I’m doing this through spead betting (I use IG Index), but whichever firm you use, there are some really helpful videos on the IG site about limits, stop losses, etc that were very helpful to me as a novice.

  65. maskanikali says:

    Thanks golfman01 for your honest contributions, though would love to know how much in ££ is a point you are using to trade from the £1000 bank?

  66. golfman01 says:

    It depends on the level of the stock, its volatility and the range of the difference between my profit figure and stop loss. Biggest has been £2, smallest 25p, so worst case downside is £200 on some trades. Probably too big a risk to be called conservative I guess, but as I said, so far so good and it suits me. Probably 40% of the trades I put up don’t reach the target price. Still learning my way, but the logic of TT’s system seems very sound. Some people would look at the possible trades and want to do 20. I’m looking to do a max of 2 or 3 a day.

  67. hammersnut says:

    Great info golfman01 hope u can post on here ur ongoing trades whilst Im adding to my trade kitty. Hope u get some good results

  68. golfman01 says:

    Thanks. Made about £60 today selling Nike (shares not trainers!) for £1 a point. There were 5 or 6 possible trades for me today, chose two, Nike and 1 other which didn’t reach the required level to trade. Bottom line is that for the first time in a while I’m feeling quietly optimistic about my financial position. Thank you Mr Cohen!!

  69. Tommy says:

    Hi Golfman,

    Sounds like you are on to a good start with this – Congrats!

    Doe’s the Trade software have to be on MT4 or will it work elsewhere?

    I use IG for forex trading.

  70. golfman01 says:

    Hi Tommy
    Sorry, I have no idea what MT4 is!
    GM

  71. Tommy says:

    Hi Golfman,

    It’s a trading platform.

    Turnaround Trader says you have to run some software to identify trades, I just wondered what you have to link it too?….or is it standalone and you enter calculations yourself or something on those lines?

    Thanks..Tommy

  72. tabithacat says:

    Thank you for this detailed and honest review, Golfman01! That’s just what I was looking for over the last month as I know Guy from his webinars and books and was interested in this new entry-level system of his. Your review and updates have just decided me.

    I am in the same position as you: a £1,000 a month addition to my income will make all the difference in the world to me. I understood from your very thorough review that with TT one can start with very small stakes and build up from there. This is exactly what I need.

    Good luck with your trading and thanks again!

  73. golfman01 says:

    Hi Tommy
    It runs off the TT website, so no software required.
    Cheers
    Golf

  74. golfman01 says:

    Good luck tabithacat

  75. bubbltrouble says:

    Hi Golfman

    Loved all the info you’ve given, it has helped me no end!

    You said it runs of the TT website but what exactly is on there?

    Is it just the name of the stock that appears or do you get to see the chart or what?

    Many Thanks 🙂

  76. golfman01 says:

    Hi Bubbl
    There is a clever bit of software that narrows down the potential trading opportunities according to how you set some simple drop down menus and then links to charts and other info as appropriate, so all the ‘boring’ trawling through charts work is done for you.
    GM

  77. Donna1 says:

    Hi all

    I’m wanting to get into stocks and shares and just saw the advert for TT. I’m a total novice at this so find all your comments useful. Good to know that it is working for some of you.

    Golfman – I’m thinking TT could be a stepping stone into the area of trading. Do you think this something I could do with no other experience in this area?

    Many thanks,

  78. Itradewithanedge says:

    Basically I know about doji, dark cloud cover et al. So my question is, will this teach me anything I don’t know?

    I know that a doji is a decision point where the market has to make up its mind. If it is at a known level of support and is followed by a bullish candle, this could be taken as a signal to go long for example. I know that the highest probability is when the market is turning around from a dip or a rally, and is resuming a trend.

    Now, if turnaround Trader will show me something different, or something to add to that, I will consider it.

  79. Itradewithanedge says:

    It sounds good, and I will consider this if someone can tell me that this will teach me something that I won’t find in a good book about trading candlestick patterns?

  80. golfman01 says:

    My first experience of trading, as I’ve said before. It works for me. I’ve never read a trading book so it may well be covered in those, but personally I’m delighted with my purchase. Good luck everyone.

  81. Tommy says:

    Hi Golfman,

    Thanks for help. That’s good then. I thought maybe I had to download some software and set it up on my charts…etc.

    What broker do you use Golfman? I use IG Index.

    Regards..Tommy

  82. hammersnut says:

    golfman01 – would be great if you could give us a monthly or even weekly report on your results as i bet everyone on here would…if ya don’t mind of course!?

  83. oldbustard says:

    Thanks for all the useful posts above. I too am considering signing up for TT system, but I’m a bit confused by references to US shares. The sales pitch suggests (tho’ doesn’t state definitively) that the daily tips will be for large-cap London-quoted shares. Can anyone please clarify.

  84. hammersnut says:

    Just spoke to Guy via twitter and he is going to try and get on here or try and get the chap who sent him the letter on here

  85. auroraknight says:

    Thanks for that hammersnut. Look forward to hearing some answers to the questions that have come up. I’d like to know whether this system would be suitable for a complete and utter total novice, who’s not familiar with the terms or how all this stuff works. I know what a stop loss is but that’s about it!

  86. blueshaman says:

    Could anybody tell me if this system is like Trade the Banks.Does it use the OVI?

  87. JeffHickey says:

    Hi Golfman01, thanks for the review. I ordered this a couple of days ago so just waiting for it to come, I have a couple of questions if you don’t mind?

    When setting a trade are you told how much £ a point or do you have to decide yourself?
    Also when you say “….chose two, Nike and 1 other which didn’t reach the required level to trade.” What do you mean by that exactly?

    Many thanks
    Jeff

  88. speedtrip says:

    This sounds rather good.

    I already trade and this might be nice addition while I wait for my setups.

    Sounds like the free software is a filter.

    What trading plaftorms are recommended. I moved from IG Index yonks ago and now use MT4 so would I find the stocks in the filter on there?

    Cheers

    Bill

  89. golfman01 says:

    The trading and money management seem to be a case of personal choice, there are no stakes advised, although some of that is covered in bonus updates. As I’ve said before, I’ve been very cautious in my profit targets for each trade. As of close of business tonight, having never traded before, I’m £793 in front in 3 weeks with two losing trades and 14 profitable ones. I started with a bank of £1000. I have three open overnight that are all in front (total £85). I use IG Index. Obviously there are no guarantees, but I couldn’t be happier with the results, the support and the product. Not going to continually post on here as it’s starting to sound like I’m on a retainer!! As with everything, do your own research, make your own decisions and don’t let my results influence you too much, but if you are interested in this system I’d strongly suggest you get it, paper trade for 3 weeks without risking your own cash and if you don’t get the results I’ve been getting, send it back, get your money back and the whole exercise hasn’t cost you a penny, other than the stamp to send it back. Good luck all.

  90. golfman01 says:

    Ps Jeff, the trades are set up to be activated automatically once the price reaches a certain level. Hence a number of trades placed won’t reach that target price and in my case, if it hasn’t reached the target opening price within two days, I just cancel the trade. Hope that helps.
    Golfman

  91. AustinC says:

    Golfman01, great trading – especially for someone who has never traded before!!
    Keep up the good work

    Austin

  92. speedtrip says:

    I think i remember an AustinC from SFM …. is that you?

  93. AustinC says:

    Don’t think so: what is SFM?

  94. Itradewithanedge says:

    JeffHickey,

    You should decide how much you can risk in the trade (usually 2% of your trading bank. What is usesful is advice about stop placement. Then you can work out how large a bet you can stake if any.

  95. auroraknight says:

    Very useful, thanks golfman01 and tradewithanedge for the advice.

  96. AustinC says:

    Golfman01, I hope that your trading is still as successful

    Couple of questions for you:
    1. Do you use Strategy 1 for your orders? Tight, loose or normal dojis?
    2. Do you find that your actual entry price is different from the entry price that you set the Order to Open at? I have had one trade which gapped and cost me more than I expected when it turned out to be a loser

    I have recently bought the package, and am impressed so far
    Still trying to work out how to get the best entries and tightest stops
    4 trades so far, and 3 winners, so not too bad!

    Happy pipping

    Austin

  97. JeffHickey says:

    Thanks Golfman and Itradewithanedge. Does the pack contain any advice on stop placement?

  98. chilliepowder says:

    I’ve recently bought this system and its seems to be logically set out. It discusses risk management and stops. I’m testing it out on a demo account with PTC Markets as they seem to allow smaller stakes (30p per point) than IGIndex (£1 per point).

    The doji’s that the system is showing at the moment are much smaller in range than the ones Guy shows in the manual / video clips. Probably just current market conditions but I’d be interested to know if anyone is trading the signals at the moment.

  99. johnnoel87 says:

    I am thinking about buying the system, and am wondering if there is anyone using this who is actually making £2000 – £3000 a month?. If Guy is reading this , perhaps he can help.

  100. escorpio says:

    Hello Golfman
    I’ve bought the course and am currently working through it.
    One thing I do not understand is Guy Cohen states always use Sell Stop Limit Orders or Buy Stop Limit Orders so that your order will only be triggered if the stock passes through the price stated in the order, protecting us from a gap that takes us beyond the preferred entry point.
    I’ve spoken to IG Index on this point and they do not have such an order, they only offer a buy or sell limit order which does not avoid any slippage.
    Your thoughts on this would be appreciated – Many Thanks
    Escorpio

  101. hammersnut says:

    For the folks using the system – is there a forum within the system that you can chat with each other and discuss potential trades etc?

  102. jerry says:

    You have a valid question johnnoe187. It will be interesting to see if there is any response. Also I would be interested to hear why Guy Cohen doesn’t trade this himself increasing the stake say 30-fold bringing in £60,000 to £90,000 a month without the hassle of having to sell his system.

  103. Itradewithanedge says:

    None of the spread betting companies offer buy stop limmit/sell stop limmit. But he does say his systems are suitable for spread betting. So I wish Guy Cohen would explain this.

    I haven’t tried Turnaround Trader yet. But I cannot see why any system can’t be traded at any level, stakewise.

    As your bank increases why can’t you just keep doubling up?

  104. Blokie says:

    I’m very tempted to buy this system, but remain puzzled as to why – if this is a winning system – Guy Cohen appears to be claiming you need to spend more time using a more sophisticated system to earn bigger rewards. Surely, if any system is a winning system, you just increase your investment to get an increased return – job done! Or have I missed something?

  105. chilliepowder says:

    I’m completely new to trading and I’m trialling the system. I thought I would share some of my learning. I’ve come up with a couple of potential trades from the system.

    I’m going to trade PNC as follows:
    If the next bar goes below doji
    Entry point $50.92
    First profit target $50.18
    Stop loss $53.28
    £1 per point

    I’m also going to trade DO
    If the next bar goes below doji
    Entry point 61.68
    First TP 60.63
    Stop 64.59
    £1 per point

    Is anyone else out there using the system and what trades have you identified most recently?

  106. aby999 says:

    Hi guys. I just wanted to ask if the TT system can be used successfully without using the concept of spread betting?

    Cheers
    Abby

  107. ncoyne says:

    Ive had the system and sent it back, i lost half of balance trying this system out and it seems to find the trades for you but u need a bank balance of about £1000. I found to many of my trades were in negitive equity.
    The sytem give u lots of bonuses so you will buy the flagtrader off the

  108. Itradewithanedge says:

    aby999

    I wonder what it is about spread betting that you are uncomfortable with?

    I suppose you could buy the shares from a broker. But chances are you would only be able to take long positions on shares expected to rise, and you would miss out on shorting opportunities offered by spread betting, allowing you to profit from falling stock prices as well.

    You could of course use CFDs. But the only difference between them and spread beting is the tax treatment of these instruments.

    Quite often what people dislike about spread betting is the word ‘bet’. I am not speculating that this is the case with yourself. However, Spread betting is a serious trading instrument, and it allows you to take up a position with a lot less money. I know that this can be dangerous. But not if you are disciplined and take precautions such as always using a stop-loss and never betting more than 2% of your account on a single trade.

    I hope this helps.

  109. hammersnut says:

    Hi Itradewithanedge

    You sound like you have a bit of experience, why don’t you try out the system and give us your opinion on it whether it’s good for newbies?

  110. Itradewithanedge says:

    I would give it a try. But at the moment, I am waiting for Snapback Forex so that I can try that.

    If I later decide to try this one I will certainly write about my experience, although I wouldn’t dream of saying who it was suitable for.

    You know that I believe that trading is not easy. There is no easy way to trade. The more you can read and know on the subject the better.

    But we’ve all got to start somewhere I suppose. But when choosing the system you are going to use. It is not a case of one size fits all. It has to fit in with your lifestyle, your attitude to risk, and the timescale which best suits you. That is the main purpose for having a trial period for evaluating a system. To see if you can live with it.

    For example, it is no good having a system which produces trades which typically lasts for a month if you are going to be constantly worrying about it and looking at it every hour. Nor is it any good having a system of multiple day trades if you have neither the time nor the inclination to be glued to the screen all day.

    Apart from that. I think that most of the systems offered by Agora are easy to operate.

    Hope this helps.

  111. mermerus says:

    Hi
    Can anyone please tell me, does the TT have anything to do with the OVI which Guy often talks about?

  112. chilliepowder says:

    I sent it back. Need a big bank. It’s hit or miss on the signals. Also if you’re trading in the UK it updates at 330am our time so you really need to identify and place trades in the morning / before US open. Not much good if you work and need to do it in the evenings. 🙁

  113. Itradewithanedge says:

    chilliepowder

    I understand that the bets are too big for you. But it would be useful for the rest of us if you could put some figures to that.

    I do believe that you don’t have to trade Guy Cohen’s recommendations. That is to say you get a copy of the actual system and could presumably apply it to UK stocks or to less volatile US stocks. Am I correct about this?

  114. hammersnut says:

    Hey folks, how have the chaps trialing the system been getting on lately?

  115. Tonino says:

    Hi all.
    hammersnut, how come you have not tried it yet.

  116. hammersnut says:

    Tonino,

    Waiting to build up my pot but in the meantime trying to see how successful this TT is and whether it’s worth going for that.

  117. JeffHickey says:

    itradewithanedge

    I beleive you could apply the system to UK stocks etc but the ‘core’ of this system seems to be the ‘Tradefinder’ filter which selects potential trades for you and this only scans S&P500 stocks, so to use this system with other stocks you would have to manually scan through them all yourself looking for the Doji bars which would be very time consuming I assume.

  118. JeffHickey says:

    Signed up for this about a month ago, had a quick read through the manual, unfortunatly had a death in the family so had other things to sort out etc, so just getting started on it again. A couple of things troubling me at the moment (I need to read trough the manual a couple of times again so maybe that will clear things up)
    As mentioned previously by a couple of people none of the spread betting companies offer buy stop limit / sell stop limit orders so you have to “enter your orders after the open” I assume this means after the market opens? What time would this be in the UK? May not be a convinent time for me or others.

    I would like a bit more guidence on how to select which stocks to trade from all the results that the ‘Tradefinder’ brings up, a search tonight brings up 20 possable trades, I think I then have to look at each of these to find a Doji together with a 20 day high or low and maybe with a volume spike as well, I can’t understand why the ‘Tradefinder’ can’t search for these at the same time? – maybe it can, are these the ‘Reversal Pattern Filters’ Im just not sure!

    Also I’m not sure what time of day to run the Tradefinder, does it matter?

    With a bit more studying it might all become clear!

  119. tabithacat says:

    JeffHickey, I have emailed Guy’s customer support with the same question regarding the spreadbetting situation and am awaiting their response. I will post it here once I have it.

    The opening time for the US markets is 2:30 pm our time as far as I know. Not a problem for me but can be a problem for those who can’t get online at this time.

    I agree that the manual requires reading time and time again. It may be easier than a book on technical analysis but it is still hard work for a beginner.

    Also, my impression is that the manual was written primarily for brokerage users, not spreadbetters. This means that you have to ‘translate’ some of the information into spreadbetting terms and rules as you read along.

    Just to add that I have spoken to two professional traders whom I know socially and both assured me that a reversal-trading system based on dojis, spike volumes and reversal patters is technically sound.

    I will keep posting updates here as I get through the system.

    Good luck!

  120. JeffHickey says:

    Thanks tabithcat, it will be interesting to see what they say.
    Regarding the spread betting, although spread betting companies don’t offer ‘buy stop limit’ orders I noticed on the IG index video guide that they offer ‘Order to open’ orders which let you state the price at which you wish to buy/sell, I don’t know if this works in the same way as a ‘buy stop limit’ order?
    Its reassuring to hear that system is technically sound.

  121. tabithacat says:

    Here is the answer I received from Guy’s helpdesk regarding placing trades after the market opened:

    “Hi Thabitha, there is no difference in your entry, stop loss and all other aspects of your trade management taught in the manual by placing a trade order when the market is opened or closed.

    The video below will show you how to place a trade order in IG Index should you need it:

    http://www.privatetradersclub.com/post/2008/11/24/Flag-Trading-with-IG-Index.aspx

    Best Regards

    Charlie
    Flag-Trader Support”

    Hope this helps.

  122. gowild says:

    I’ve had this system for about 25 days and it’s as an intro to the world of spread-betting. However forget it if you think an hour a day will be enough and it will make you 3k per month, it won’t.
    My first trade made a gain and I thought fantastic – but since then all I seem to be made aware of is that there is more upsell to get knowledge and to get to higher levels.
    On another note, about a month ago I started to read Technical Analysis for Dummies – brilliant, I think it covers much more (with no upselling)… in fact there’s every chance that turnaround trader shares ideas from the same principles in that book.
    I’m returning turnaround trader tomorrow as although I’ve used it’s system for indicators, I haven’t had any other gains since the first, only losses – every day. There are more than enough indicators to chose from and I’d expected more hand-holding and guidance in what to bet on, where to place stops etc.
    With a bit of self-disciplined study you could probably do just as well (maybe better, you might win more) without the course, and as you need discipline to follow the course you can choose which is the best way forwards for yourself.
    My view is that in the long run you’ll need to do your own thing to understand more about what and why you’re making particular spreads.
    My opinion is that turnaround trader is a business which focuses on how it can make its money by selling it’s wares to you and me, under the pretense of being more user friendly and guiding than it actually is – an unnecessary purchase – sorry Guy.

  123. hammersnut says:

    Thanks for that Gowild – made my mind up!

  124. DickyB says:

    I had this on a 30-day trial 1200 ‘paper’ points down, with very few winners. Support was reasonably fast, but no real helpful info. However, as soon as I registered it, my inbox was filled with sales emails from Guy and the all the videos on the site are just adverts for his propietary (???) indicators and upsells to his more expensive system.

    1200 point loss was very disappointing from such a big ‘name’

  125. patricknoonan says:

    So people is this system any good if you read all material or is this like a free lunch too good to be true that the average guy can make money using the turnaround system

  126. tbsrichardsam says:

    My son and I bought this in November 2011 and the results have been phenomenal – copied below from our IG statement.

    We only started trading near the end of November and from that time until early March, starting with £100, we made over £1,000 profit from 36 trades, 26 winners and 10 losers with IG Index. That’s 1,000% in 3.5 months, something that we could never have dreamt of.

    Between us, we’ve never traded before and found this to be very straightforward. We actually contacted Guy Cohen’s support to say thank you, and a few days later, out of the blue we received a phone call from him personally! From the call we learned that by trading as a pair we may have an advantage as we strictly enforce Guy’s checks and balances on each other before placing a trade.

    We actually sent him in our IG statement and spreadsheet, and he immediately spotted two things we were doing that were contributing to our success. We only traded his “Strategy 1” as that was easier for us to understand, and also we were very conservative about taking our first profit off the table, something that is emphasised on the course.

    What we found was that many of our trades reached the “P1” target and then reversed. This meant that many of our trades never reached Guy’s “P2”, but we were consistently bagging profits and then protecting the other half of the trade. After winning 15 of our first 18 trades – and two of those losses were literally pennies – we got a bit over-confident before getting our feet back on the ground!

    About only trading his “Strategy 1”. When we spoke to him he related the history of the method which was also fascinating. Basically, “Strategy 2” is a professional strategy, but Guy altered it by insisting on a “Doji” as the extreme bar. He then made changes to the entry and exit mechanism, and because this was much simpler than the professional strategy, he called it “Strategy 1”, and that’s the one we stuck to. Many of our trades wouldn’t have executed or fared as well if we’d employed Strategy 2, so he basically took a professional strategy and made it simpler and better.

    In conclusion we are delighted with the Turnaround Trader. It’s definitely genuine and most importantly it has worked consistently for us. One thing Guy mentioned to us was that if he’d known we were only starting with £100 he’d not have allowed us to use it! But we’ve been consistent at a time where we really needed the extra cash, so it has been a godsend.

    We’ve now started with Guy’s OVI trading method too, and that is proving just as good. Maybe it’s beginners luck but trading with my son is definitely better and more profitable than trading on my own where I’ve made some mistakes.

    In case anyone’s interested in the trades we’ve made here they are.

    DATE REF STOCK OPEN SIZE CLOSE P/L
    23/11/2011 L683GZAU Lowe’s Cos Inc DFB 2310.7 £ -0.35 2273.3 13.09
    28/11/2011 L9Q68AAK Dell Inc DFB 1460.77 £ 3 1485 72.69
    28/11/2011 L9JDUEAS Wall Street DFB 11387.7 £ 1 11450 62.3
    29/11/2011 L9Q67SAK Oracle Corp DFB 2970.6 £ 0.3 2981 3.12
    30/11/2011 L99RHNAR El Paso Corp DFB 2501.5 £ -1 2563 -61.5
    01/12/2011 MAQUKQA2 General Electric Co DFB 1549.13 £ 1 1576 26.87
    01/12/2011 L99U5QAC 5th 3rd Bank DFB 1148.53 £ 1 1186.8 38.27
    07/12/2011 MCSSQPAT US SPX 500 DFB 1254.83 £ 10 1254.78 -0.5
    07/12/2011 MBLRUQAK Textron Inc DFB 1909.3 £ -0.7 1865 31.01
    09/12/2011 MDE3HRAR US SPX 500 DFB 1237.77 £ 10 1251 132.3
    13/12/2011 MD28U4AN Spot Gold DFB 1661.66 £ 5 1663 6.7
    14/12/2011 MEZAV6AZ Spot Gold DFB 1584.68 £ -5 1576.9 38.9
    14/12/2011 MEUP4PAJ Spot Gold DFB 1620.98 £ -3 1587.85 99.39
    14/12/2011 MEWX94AC Spot Gold DFB 1604.65 £ -2 1584.84 39.62
    14/12/2011 MER6Y2AN Spot Gold DFB 1630.15 £ -5 1630 0.75
    14/12/2011 MEK44GAU Wall Street DFB 11987.3 £ -1 11990 -2.7
    15/12/2011 MEH5BMAF Spot Gold DFB 1656.85 £ -2 1587.36 138.98
    16/12/2011 MEVAM9AJ Safeway Inc DFB 2089.7 £ -0.5 2059 15.35
    16/12/2011 MFGFRDAH Forward AUD/JPY DEC-11 7765.2 £ 0.5 7755.4 -4.9
    19/12/2011 MFVLC6AN Wall Street DFB 11804 £ 1 11869.5 65.5
    19/12/2011 MFXTPBA4 Wall Street DFB 11904.5 £ 1 11876 -28.5
    10/01/2012 MLHK8DAZ Spot Gold DFB 1640 £ 2 1634.6 -10.8
    10/01/2012 MLFXDHAE Spot Gold DFB 1633.9 £ 2 1635.01 2.22
    10/01/2012 MLD2LSA4 Spot Gold DFB 1625.75 £ 2 1635.53 19.56
    11/01/2012 MLLU3SAY Spot Gold DFB 1630.88 £ -1 1644 -13.12
    12/01/2012 MLYDV7AG Spot Gold DFB 1638.19 £ -1 1656.19 -18
    28/02/2012 MZYHXFAG Spot Silver DFB 3583.9 £ 2 3628.9 90
    29/02/2012 MZ6RAXAG Spot Gold DFB 1787.3 £ 3 1767.3 -60
    29/02/2012 MZ6CKMAQ Spot Silver DFB 3646.9 £ 2 3660 26.2
    01/03/2012 M2HDDAAM Nabors Industries Ltd DFB 2225.7 £ 0.7 2184 -29.19
    02/03/2012 M3DR9QAG Kroger Co DFB 2416.7 £ 0.5 2405 -5.85
    06/03/2012 M35BRYAC Spot Gold DFB 1685.52 £ -2 1674.42 22.2
    06/03/2012 M3TWDQAV Spot Silver DFB 3381.3 £ -2 3302.5 157.6
    07/03/2012 M296FHAH Spot FX EUR/USD DFB 13245.3 £ -0.5 13143.3 51
    07/03/2012 M2XWXHAR Spot FX EUR/USD DFB 13309.3 £ -0.5 13143 83.15
    08/03/2012 M4QFSSAX Ford Motor Co DFB 1229.88 £ 1 1240.8 10.92
    TOTAL PROFIT 1012.63

  127. dmac says:

    is this genuine , or a set up…? at first i believed it, but then it seemed too constructed … sorry to be sceptical .. and those are HUGE bets to take with a 100 pound starting balance! what ja think folks

  128. chinablade says:

    Hi dmac,
    I don’t know why someone would go to all the trouble of writing this in the first place, but I have to agree with you, it’s not right.
    I looked at the first suspicious looking trade, the second one for DELL, where they supposedly won £72 with a £113 bank.
    Without giving away the TT system, the P1 target would have only been around 12 pts (not 24 as they claim), but the stop loss would have needed to be around 45 pts. To trade that at £3 per point, you would need a margin of over £200.. impossible to do that with their supposed small bank.

    Sorry tbsrichardsam, but it seems like you left a ‘c’ out of your name
    (third letter from the end)

  129. chinablade says:

    As for the TT system itself, I demo traded it for quite a while, but found it way too hit and miss. The software throws up all sorts of shares where the doji isn’t a ‘classic’ example of a doji at all. If you just followed blindly you would definately lose money.
    To do justice to this, you would need to study in more depth about candlestick patterns and doji’s – but then that begs the question why would you need to pay £197 for this?
    Oh, and the amount of follow on upsell e-mails you get is really annoying…

  130. JohnU says:

    @ everyone

    I’m a very instictual person and my instinct says there is something ‘out of kilter’ with tbsrichardsam’s post.
    It’s certainly greatly at variance with the experience of ‘gowild’ on 23 rd November, and others.

    As chinablade says, how can you recocile being able to trade at those levels with such a small Bank. both sides of that equation don’t fit!

    I’m sure we would all be very intersted to know which Broker/Platform was used for this Amazing ‘set of results’. New people making over 1000% in 3.5 months – ummmh, i’m sure a lot of experienced Traders will really be scratching their heads at that one!

    As a seperate observation the whole ‘attempted upsells’ from these Forex products is frankly like a disease. I just wish certain sites, especially clickbank, would bar the practice all together!

  131. iansgrieve says:

    This is the fourth system i have tried over the last 18 months and by far the worst.lost most of my bank on it.far too hit and miss where it is stated that a doji in tandem witha volume spike is a strong signal for aturnaround trade in most cases is simply not true it normally just carries on going up or down also all the free bonuses lead nowhere they are simply bits of information to make you keep the course until the garauntee runs out

  132. slad2blues says:

    JohnU
    I agree with you about barring the vendors of these systems,or at least not allowing what seem exorbitant claims.
    As long as there are folk around who want to make ‘easy money’ the systems will continue to be dreamed up and sold.
    I’ve been an investor for many years and acted as a broker for several people when I ran a business.
    The notion of inexperienced traders making money in 10 minutes a day is,frankly speaking, a pipe dream.
    A so called training course or method can tell you ‘how to’ but there are no guarantees of success and I think it’s wrong to put unproven claims in print.

  133. Albert30 says:

    I bought this some time last year and only came across this forum review just recently. (I usually just post on the bonus bagging one)

    I was thinking of dusting the manual down and giving it a go and then I remembered why I stopped in the first place – it was the huge stop losses that you need to put in place – i think in most cases over 100 pips. If this is within your risk profile then thats fine but it certainly wasn’t within mine.

    I started with only a £500 account which I was using for FX purposes too – soon realised that I couldn’t trade the expected £1-£2 a point if I didn’t want my account to blow up pretty quickly. I think my first trade actually made me money (i was betting less than 50p a pip if I remember correctly)

    Plus I find that it takes a lot longer than 10 mins to look through the potential trades that come up from the TT software.
    Also I would need to look the company up on my own tradng platform as i found it unclear when you look at the link used to show the dojis.

    Ultimately I lost money on this. I think i’d like to paper trade it as the setups as stated in the manual do make sense to me. However from some of the other posters it seems that the signal isn’t as good as its being made out to be.

    Also I only traded strategy 1.

  134. Arem says:

    Y’all might find this post interesting, as I’m a Yank – who just today received an email “pitch” for Guy Cohen’s Turnaround Trader system from Bill Bonner’s AGORA organization. [AGORA is “pretty big” in The States.] This pitch arrived “inside” a (free) AGORA newsletter to which I subscribe, called Inside Investing Daily. In the USA, the “usual practice” for a newsletter (like this one) is to include a “header”-positioned DISCLAIMER regarding newsletter content that is in essence “advertising” by a non-affiliated, non-subsidiary organization. In short: “What follows is a paid advertisement”, period.

    This pitch didn’t include such a DISCLAIMER … which made me immediately “suspicious”. But I was (still) curious and so followed the (provided) “link”, anyway.

    Which led me to GOOGLE Guy Cohen as well as Turnaround Trader, mainly interested in finding credible “reviews” of both. These investigations eventually led me here, to More Money Review – then to taking the time to read scores of (“your”) Comments, and ultimately to making a decision to write this post.

    For What It’s Worth:

    I am a “wage-slave” for a Big-Box Retailer (ticker WMT:NYSE – my “10-Year Anniversary” was just Tuesday), but hold two undergraduate degrees, one being a Bachelor’s in Business Administration, Finance major. For over five years following graduation with that BBA, I toiled as a bank examiner for the US Treasury Dept – so, I “understand” a bit about real-world financial stuff, and a whole lot about liars, cheats and scams.

    I’m now 57 – and the latest digression from (ah) “Plan F” occurred late 2009. This led me directly into exactly what y’all are asking/wondering about – finding a reliable way to safely make some consistent money “working-from-home” in my “spare time” using my PC and the WWW … not too “pricey”, not too “risky”, not too “cerebral””, not too “technical”, not too “time consuming” and especially not too “stress-inducing”. I am a working stiff, and my bankroll is absolutely “limited”! I am NOT “greedy”! But I sure could use (say) another $200-300 a week – and “whatever” over that would go straight into my retirement accounts! That’s the short story on where I’ve been, where I’m at, and where I need to go/get to PDQ!

    Observation #1: I have (since) subscribed to scores of investment/trading newsletters and taken dozens of “trial subscriptions” to investor/trader Advisory Services (“Basic” as well as “Premium”) over the past 16+ months. Out of ALL of that “experience”, I am the least favorably impressed by and most negatively inclined towards anything put out by ANGORA – “my source” for this first-time-encountered “pitch” for Guy and his Turnaround Trader. Is this hugely “broad hint” escaping anyone’s ATTENTION! ? …

    Observation #2: I “guessed” that Guy was inferring options plays via Turnaround Trader – ’til I arrived on this site, and gained first-time awareness of “spread-betting” via Comments (which I also GOOGLED). Initially, off-hand, “ in all ignorance” I presumed such to be a(n) inherently “high-risks” for prospectively comparatively “low rewards” proposition. My GOOGLE-ing subsequently only served to fundamentally reaffirm this initial presumption.

    Observation #3: I came to this site in full expectation that Jack had actually “used” TT! ‘Not the case, so I am astounded that he dares offer ANY manner of “COMMENT” upon it! Regardless and moreover, I see that the Comments on this exact product/producer extend back-in-time to almost one entire year from date – and STILL “no answers” are evident!
    Observation #4: I’m just a Yank – and “spread-betting” is evidently a European “thing” AND hugely popular! (with “tax advantages”, even!). Again, this Yank is “clueless” …

    … Except in one respect.

    ALL THOSE “questioning” TT? By definition, YOU “don’t know” better/differently! So, go with that “gut instinct”! This is simple: Stay Away!

    UNLESS …

    … you happen to be interested in “learning”!

    Buy TT! Ddevote 30-45 minutes daily to “dedicated reading/studying” of TT materials over the first 14 days, and you’ll either “get it” AND choose to proceed with your TT product OR you’ll have plenty of time to “cancel-&-return” it for a full refund.

    Observation #5: IF you “get it”, this scenario strikes me as one DAMNED “cheap” educational experience!

    “PAPER TRADE”, baby! It’s easy, safe-as-can-be, and doesn’t cost a penny. I use Yahoo’s Finance applet (“Toolbar”), whereby I’ve set up and regularly monitor an individual “Personal Portfolio” for the two-dozen or so investing/trading sources I’ve found worthy of “a look” (over time).

    All those subscriptions that I’ve tried-&-canceled over the past 16 months are costless “educational opportunities” by which I glean & gather Knowledge/Understanding/Insight/Comprehension of this-n-that, which will eventually lead me to become a self-employed/-supporting, INDEPENDENT and SELF-REIANT INDIVIDUAL!

    [That’s my goal – “target destination” being Costa Rica for my retirement.]

    Observation #6: I do absolutely feel much emotional discomfort and intellectual hesitancy over interjecting my (Yank) self into this obviously UK-based forum regarding a product that is already at least “1 year old/known” to y’all at this juncture. (And I have not “tried” it, and have zero proclivity towards doing so). ‘Point is, I apologize if my “intrusion”, here, is deemed offensive.

    Observation #7: Y’all have this Common Interest (in Cohen’s TT), y’all “share” this Common Forum (for yakking about it, for not less than 12 months to-date, already), but I have NOT seen any indication of any inclination to “”cooperate, coordinate and communicate” between yourselves TRY this system, RELATE experiences, and exchange/post RESULTS!

    ‘Just a Yank, I know. But, is ANY of this “ringing any chimes” out there in MMR-land? . . .

  135. AKK says:

    Just received this system from AGora for tunnel trader.

    the comments for this system are either that its a complete load of crap or that if u spend more than the stated 10 mins and more than the stated bank of £250 and if you do everything yourself u could make some money.

    In the blurb it states:
    Under ten minutes a day to run. YES.
    £2,000 – £3,000 a month profit, tax free. YES.
    No poring over charts and figures! YES I do all that work for you.
    Bog standard PC – nothing fancy. One screen! YES – if it runs ‘Windows’ you can profit from this system.
    No expensive software or ‘hidden extras’. YES – my advice and the Turnaround Signals are provided to you daily and FOR FREE!
    Can be done by anyone who can drive a PC and visit a web site. YES.

    Is it a complete load of tosh like Flag trader or are the comments above justified.

    is it worth getting??

  136. Carlos says:

    Agree with above. Is there anyone making any money from the system as it’s been out for some time?

  137. j falcus says:

    I would just like to comment on the fact that, iv’e been asking the same question to Guys’ support team, which is a pretty simple one, and iv’e been more than patient, yet still can’t get a straight answer, they seem to work their way around the answer like greasy pigs. I have done everything as per the guide lines{to be fair,once you have studied reversals, it’s elementary, as far as Guy explainsit]yet still i am down 80% of my bank. I have asked, pleaded with the support team, to give me a straight answer regarding dojis, and that there is a lot more to them then what has been explained, yet they have great difficulty in giving me an answer, which now leads me to question their honesty and integrity.
    What i have found, is that only a third of my trades are succesful and a third are losers and a third are not triggered! I have asked them to forward my emails to Guy on two or three occasions, last time they said that they had and that they would get back to me as soon as. Aweek later i emailed them again and they said they would get back within the next day or so, it took another week and for me to chase them, only to get a reply that was nothing to do with what i did or should have done, so it leads me to think that they just fobbed me off. I must say that it should be more important looking after the people you have rather than putting all your energy into finding new ones, surely that keeps everyone happy and speaks volumes for ones reputation. So if you are reading this Guy, why don’t you get intouch with me and having the salt you’re worth to do the right thing.

  138. j falcus says:

    Further more, what pisses me off is that i trusted you and i feel duped, i was really relying on this to help me out. Don’t worry, i’m not that niave to think thatit was to be a path to riches, but as you explained in your sales that it can be life changing for some people, and thats excactly what i was hoping, i aren’t looking for this to make me rich, however, half the amount you claim to be able to profit would be life changing for me in my circumstances, so i feel iv’e been let down.Iv’e always been straight with people and i expect the same, all i can say is that it saddens me.

  139. martin77 says:

    @tabithacat.. ” Just another point: Agora, who are distributing this product, are indeed an American company but they have a London office. Their customer service is quite good and the money-back guarantee is always honored.”

    Agora are also notorious for having many ‘systems ‘ which do not work and which lead to refund requests.
    Tread very carefully .

  140. Behram says:

    All above responses are now 2 YEARS old.
    I am writing this as of 31 March 2015.
    Has anyone got recent experience as this system is offered yet again today and would like to purchase.
    Thanks to anyone who responds.

  141. Itradewithanedge says:

    @tbsrichardsam

    Thanks for sending in your results. You did well. What is not clear though is where you have been putting your stops. I don’t want this to sound like a criticism, that you may have been starting out taking excessive risks with your £100. If I only had £100 to start with I’d probably do the same thing.(so long as you don’t end up with a margin call) After al what’s the worst that can happen? You lose the hundred pounds. It is hardly going to make if you put it in the nice safe building society. But I have to look at your results and say you were lucky. So what would be helpful is how are you doing now that you have built up a bit of a bank? Another three months results would be good.

  142. Jack Review says:

    I ordered this course on 31st Mar and received the material a few days after that. I started to use this system to trade around 10th April with a bank of £470. On 15th April my bank has increased to £554 with 1 trade on the Ameriprise Inc (AMP). There were a few other shares that were suggested by the software but after applying the criteria from the course, they didn’t trigger. So as a result, the success rate so far is 100%. I am quite happy with this course and the associated software.

    One thing to note though, the software that comes with the course is only free to use for 1 year from purchase. After that, it will cost around £300 per year to use it. This information wasn’t mentioned in any of the sale copy so I was a bit disappointed about that. However, if the course and software can make me so much profit as the last trade, I don’t mind paying £300 per year to use it. I will continue monitoring this course and software and report back later.

  143. grippando says:

    I see that Michelle is recommending this in todays email even though the review on here says they will report again in June.
    I did see on a different website that Guy Cohen once claimed he had decoded a secret box smuggled out of Nazi Germany that could make millions! Sounds as though he lives in Dreamland. Not one for me to trust.

  144. m5 says:

    Hmmm, so Mr Cohen calls 2-3k a month extra as small beer, but wants to sell you a system for £200.00. Ask yourself this, why would you bother if you can earn fortunes trading yourself without any of the hassle?

  145. Maynard says:

    m5, he can do both. He can earn money trading AND earn money selling systems.

  146. James Cassidy says:

    @Jack Review – how are you finding it now then? What are your results like?

  147. Qwillan says:

    Received a mailshot for this a few days back. So what has happened with the promised June update?

    Ellen C

  148. Malcolm Taylor says:

    Yes, I too would like to read the June update.

    Malcolm

  149. morevarad says:

    Any information when will we be able to see June Update?

    Thanks

  150. MMR admin says:

    Hi

    I spoke to our reviewer at the end of June and this is what he told me:

    “The 13 weeks are up on July 11th but as some of the trades continue for a while it will be around July 23rd when its ready for the 3 month report”.

    So I’m expecting it by the end of this week/early next week depending on how busy my reviewer is.

    I did mention this in an email I sent to my readers on the 5th of July.

    Regards
    Michelle

  151. morevarad says:

    Thanks Michelle for the update.

  152. martinb says:

    ‘June’ review very late now, Michelle.
    Especially since you are now flogging this system again…

  153. MMR admin says:

    Hi martinb

    Actually, if you look at the review above you’ll see that the latest review update was posted up on 31/07/2015.

    Thanks
    Michelle

  154. Pete Williams says:

    DELETED BY MOD

  155. mabooga says:

    Beware of anyone who in their own sales pitch describes themselves as ” a leading international guru”!! I want trading info without the bull, not spiritual references to to financial world!!

  156. PEPPIDOG says:

    Seems to me nobody is actually using this and sharing their results. More often than not it is just opinions of whether anybody should purchase the product.
    I like to think that before I purchase anything I have a good understanding of what is expected and do due diligence before parting with any money.
    Based on this thread and various others I will not be parting with any money for this at all. I also have to say that I am rather disappointed that MMR continually mail the same over and over and also they continue to promote a product that earlier posters have claimed simply breaks the bank. I hope the affiliate fees pay against the loss of unbiased opinion.
    My opinion anyway and we are all entitled to that are we not?
    All I ask is that if there are those out there who have purchased this product to please let us know. We are all eager to find out. But from what I have read so far it is a no go… totally
    Ah well…. back to the drawing board I guess

  157. steveentwistle says:

    Maybe we should all club together and send an angry letter unlike the made up drivel in the sales copy!!!!

  158. mabooga says:

    I agree with Peppidog entirely. My opinion is based on due diligence. When a company,sorry “Guru”, or affiliate simply rehashes a system which has been on the market for 2 or 3 years and does rebranding with the old (yawn) tried and tested copy, I smell a rat and never get to the stage where I trial it.This is what happened with follow the money. Common sense and (hopefully)objective reading of the sales pitch makes me steer well clear of it based on what he did with other products. Is this his 3rd or 4th product now which will guaranteed bring in the big money? If the first was so successful why would he develop others? The internet is slowly becoming useless for sifting the good from the bad. Opinions opinions.

  159. DocKen says:

    Hello folks, Ken here.

    I have looked at at the reviewer’s results/data in some detail, and note that the equity curve has been pretty flat for most of the 13 week trial period, with some scary ups and downs.

    A serious flaw in that trial was that the reviewer used a £/pip of 0.1% of Bank instead of a fixed Risk per trade. So, for example, there was a trade with a 200 pip Stop, meaning the Risk on that trade was 20% of the Bank!!

    I am running an IG based spread bet trial, using 2% Risk per trade. [I found that I couldn’t do the trial at 5% Risk because I ran out of margin too quickly, for placing pending orders.]

    Points to note:
    To do this for real, you’d need email alerts to move Stops up to break even soon after the first target was reached (see below for more detail on this);
    Risk/Reward (RiRe) is poor, taking spread and reasonable pips above/below the doji to enter trades, so you need a very high hit rate to succeed. For example a ‘Risk 4’ to ‘Win 1’ trade needs to have an 80% success rate just to break even;
    In my trial, I find the RiRe is 4:1 or higher (i.e. poorer);
    And success rate is in the range 80% to 85%;
    This trial is taking me one to two hours per day, so it is not a trivial undertaking.

    I think that the reviewer’s method of scalping is unlikely to be very profitable in the long run (see further down).
    I say I think, because for me it is too early days to be confident of long term predictions.
    [And of course, the reviewer’s £/pip method is bonkers.]

    My trial uses two targets: 50% off at 38.2% of the doji High-Low (T1); 50% on a trailing Stop Loss (T2).

    In one month (mid Sept to mid Oct’15) I found 140 signals (there were more, but I filtered them out!), of which 55 trades resulted:
    49 closed, 39 Wins (of which 22 went to T2);
    2 still open but past T1 (so 2 more Wins);
    4 not reached T1 yet.

    Taking spread and rollover costs into account, my paper trading is about 16% up on the month.
    If I had closed all trades at T1, it would be about 6% up.

  160. DocKen says:

    Oh, I forgot to also mention that rollover costs can be pretty high for stocks of high value (e.g.$100) and trades that last several days (e.g. 10). This can turn a ‘winning’ trade into a ‘loser’.

  161. DocKen says:

    Sorry folks, just spotted an error:
    If I had closed all trades at T1, the account would be about 2% up, and not 6% as I said above.

    Whilst I’m here, perhaps I should add that this ‘scalping’ method of closing the whole trade at T1 also gave a draw down of around 8% at one point, bringing the account down to around 97% of the Starting Bank.

    In contrast, my preferred method gave a draw down of around 7% at one point, but that brought the account down to 103% of the Starting Bank, from which it recovered to 116% of the Starting Bank by the end of the 49 closed trades.

  162. DocKen says:

    Many thanks to our Reviewer for completing his 6 month’s trial. Well done! Much appreciated.

    It is worth repeating some of the differences between his trial method and mine:

    (i) Our Reviewer uses 0.1% of his current Account as his £/pip on any current trade. That means for one particular losing trade he lost one quarter of his current Account (24.6%, to be precise).

    My trial is using a fixed Risk of 2% of my current Account on any current trade;

    (ii) Our Reviewer is not using the ‘two targets (T1 & T2)’ approach recommended by Guy Cohen, but rather is closing trades completely at T1, making it what I would call a ‘scalping’ method, since T1 is a small target, typically a quarter to one fifth of the Stop Loss.

    My trial is using the recommended ‘two targets’ approach;

    (iii) Our Reviewer seems to be paper trading (like me), but not allowing for the effects of either spread, or rollover costs incurred on trades that span several days.

    My trial accounts for both spread and rollover, which are quite significant in reducing overall gains – targets are typically reduced by 10-15 pips, which can be a large portion of T1, and Stops are widened by the same amount (or more if Guaranteed Stops are used).

    I have started trading ‘for real’ with an IG Demo account, to make sure that I account properly for these extra trading costs in spread betting, but most of my trial has been conducted purely by reading bar charts and calculating the rollover costs, plus assuming modest spreads of 10 pips. In market open hours it is often more.

    To finish, I reiterate my belief that the ‘two target’ approach is much more profitable than the ‘scalping T1’ approach. But it requires more work and the use of Alerts so as to move Stops quickly to break even, once T1 has been achieved.

    Please don’t think that I am berating our Reviewer for I am not. I just want you to be clear on what these trials entail in regard to fine details that can be important.

  163. DocKen says:

    Ahah! One other difference in our trials that I have only just noted:

    (iv) Our Reviewer only looked at the allegedly (by Guy Cohen) highest probability of success trades, called ‘Rail Road Track’ trades. These are effectively Doji trades where the Doji takes two days to form. Let’s call these two day Doji trades.

    My trial includes not only the two day Doji trades, but also the one day Doji trades recommended by Guy Cohen.

    The latter may be lower probability of success trades, but my trial suggests that there is not a lot in it: both have over 80% success rates, to date.

  164. mudlark says:

    MMR reviewer, is Doc right? Are you paper trading?

  165. DocKen says:

    OK, I’ve checked properly now the success rates of the two different types of trades (Rail Road Tracks [RRT]; 1 day Dojis [1DJ]).

    From 15 Sept to 26 Oct I have found the following:

    RRTs 24 trades, 20 wins (so 83% success), of which 14 went to T2;

    1DJs 41 trades, 31 wins (so 76% success), of which 14 went to T2.

    So clearly Guy Cohen (and our Reviewer) are right: the RRT trades are higher probability trades.
    And not only that, a higher proportion of RRT trades go past T1 to hit T2.

    Hence the RRT trades are a lot more profitable, if you run them to T2.

    A note about our Reviewer’s spreadsheet. He seems to have allowed some trades to go past T1 to record larger gains.

    You can only do this with hindsight!

    So, if this is true, some of our Reviewer’s results will be suspect.

    Please tell me I am wrong, dear Reviewer.

  166. Steven Davies says:

    Railroad Tracks method is fantastic, these tips make Turnaround Trader what it is. Good product.

  167. jerry says:

    DocKen raises some good points. Would the review like to respond? Also is this paper trading?

  168. jerry says:

    correction: review = reviewer

  169. DocKen says:

    If the review was for spread betting, then it was most definitely a paper trading exercise, i.e. not even on a Demo account. (No mention of spread issues, which are significant; no mention of rollover charges, especially important for expensive shares and long duration trades.)

  170. jerry says:

    Thanks DocKen, I think an answer to the points you raise is needed, particularly as Michelle (MMR Head of Research) is currently sending out emails using this reviewers results as a reason for purchase.

  171. fraserj70 says:

    I think a lot of the reviews are suspect, when they reviewed bookie blow out they stated that they started with a £100 bank but there was no way they could have as the betair liability wouldn’t allow such a small bank, that just gives everybody the impression then that you can make big money from a small bank!! ching ching thank you very much more commission for Michelle and the boys

  172. Michelle Roberts says:

    @jerry – I will ask the reviewer who trialled this on for me to come on and answer your questions.

    @fraserj70 – in regards to Bookie Blowout the results were reported as they happened. But I will get the reviewer to come on to that thread and clear any confusion up.

    Also, you can start with a smaller bank as you can use a trading bot to allow smaller stakes to be placed.

    May I ask if you have actually tried Bookie Blowout yourself? As only by actually testing it can you be certain how it works and if it does. If you look on the Bookie Blowout page you’ll see MMR members who have actually tried it themselves and are very happy with it (not all members I admit but a good number of them).

    Any further discussions about Bookie Blowout should of course take place on that thread http://www.moremoneyreview.com/bookie-blowout-review-26472.html and not on this one to save confusion.

    Michelle

  173. fraserj70 says:

    Michelle it is a good product and I have trialled it, it’s overnight trading on the drift and I’d love to know how he picks them as they were 90% spot on but what I’m saying is that there is no way you could start with a £100 pound bank. Half the time your money would be tied up with the bookies for 3 to 4 days so that would restrict you to very few bets a week you just wouldn’t have the liquidity Plus betairs liability, in the results they placed a trade on a horse at 22, there’s no way sorry. I’ll buy this when I can afford a larger bank

  174. fraserj70 says:

    Unless I’m missing something and in that case I’ll stand corrected and apologise, but for the life of me I can’t see how they got those results with a meager 100 bucks

  175. jerry says:

    Michelle – Any response from the reviewer?

  176. DocKen says:

    Hello folks. I have some bad news for you regarding the Reviewer’s results spreadsheet for Turnaround Trader.

    I have spent about 40 hours on IG charts looking at all the Reviewer’s trades that didn’t overlap with my own 6 weeks trial. That means all trades from 15 April to 16 Sept inclusive.

    This adds up to 123 trades. I did this to increase my confidence in this trading system. What did I find?

    To start, I can assure you that the trades were NOT done on IG by the Reviewer since the Entry and Exit prices don’t match the rules given by Guy Cohen.

    Next, of the 123 ‘signals’, I eliminated 29 of them as either invalid or unwise trades on IG. That left me 94 trades to analyse.

    Only 74 of the 94 trades reached T1, the target. That means a Success Rate of 79%. This is clearly disappointing given that I found an overall 83% during my trial, as reported above, and the Reviewer found 89% for his 6 months trial.

    My trial showed that the average Risk/Reward for trades closed at T1 was 5/1 or worse. Let’s say 5/1 and apply this to 100 trades, risking 2% of Bank per trade:

    A win will give 2% divided by 5, i.e. 0.4% Gain.
    So, 79 wins would give 79 x 0.4 = 31.6% Gain.
    But 21 losers would give 21 x 2 = 42% Loss.

    As you can see, if you spread bet on IG with a fixed risk of 2%, after 100 trades [roughly 5 months] you would have LOST about 10% of your Bank.

  177. DocKen says:

    Allow me to remind you that the above method of trading is NOT one recommended by Guy Cohen; it was merely the Reviewer’s choice.

    The ‘proper’ method advocated should be profitable, but by no means as profitable as suggested in the advertising blurb for Turnaround Trader. Our Reviewer has made similar comments.

    I remain a fan of Guy Cohen, but consider that he oversells and under-delivers wrt Turnaround Trader.

    Perhaps a key point to remember is not to take all trades offered up by the filters but to apply some judgement as to which trades to take. This applies not only to the Doji filter but also to the Railroad Track filter. Personally, I would avoid the Doji filter altogether.

  178. Tim O'loughlin says:

    Interesting how questions from last year regarding this product go unanswered, yet today I receive an email asking “how could I not have purchased this product?”

    It does sound very interesting, but having read through the comments, opinions seem quite divided.

    Think It would be a positive move if MMR would at least keep posters updated as far as their direct questions go, before sending out sales emails.

    Just a thought.

  179. mike88 says:

    @ Tim O’loughlin – I agree. Back on the 25th Nov last year Michelle stated that she would get the reviewer to come on here to answer questions to the queries that some had but yet there is still no response.

    I am very much interested in purchasing this but without answers to the questions I will not.

  180. Tim O'loughlin says:

    @mike88 – Yep same Mike. I have been looking for a “newbie” styled system for trading for some time, I had looked at this a long time ago, but was turned off by some of the comments.

    I have since read, and hopefully learned a basic understanding of the markets, very basic, so TT seemed to tick the boxes for me.

    But I too would like to see Guy come on here and answer a few of the concerns raised.

    Again, I think MMR should follow through on what they say they will do as members can become quite discouraged.

    It would not take Guy long to answer a few questions from those still interested and may in fact reward him with some new members.

  181. Tim O'loughlin says:

    DELETED BY MOD

  182. cwilliams says:

    @Tim O’loughlin

    I note that the link that you give leads to a pdf that quite clearly states that it is copyrighted material. Do you have the author’s permission to allow people to download the material?

    Pete Williams has a track record of ignoring other people’s copyright so the fact that he has provided the original link does not mean that it is OK to re-publish it.

  183. DocKen says:

    Please note that the manual is useless without access to the trade signal filters/information.

    Access to the manual prior to purchasing TT (required, to gain access to the signal information) will only shorten your time to get up and running with implementing the strategy.

  184. Tim O'loughlin says:

    @cwilliams

    Why ask me? This link has been up since 26 Aug 2015.

    I copied and pasted in good faith to anyone who was interested and may have missed it.

    If you are so concerned, and you know something about Pete Williams doing this before, why not report him instead of stupidly asking me if I have permission to effectively re-post it.

    If you are somehow involved with this product or it’s owner than sue me!

    Or otherwise keep your supercilious posts to yourself.

    I haven’t done anything wrong and if you even have half a brain you would know that. If anyone has, it would be Pete Williams whom as I said you should be letting MMR and or the publisher know what he has done.

    Not someone like me who has moved the download link from one area of this thread to another.

    I would write what I really thing about you cwilliams but I have mellowed in 2016 so will refrain.

    And if anyone finds even this post a little too strong, well I guess I don’t like being accused of being some sort of pirate, when in fact I have never even been to the publishers site, much less copied and downloaded any material. So having some D***h**d accuse me of such makes me just a tad irritable.

    And just pre-empting this turning into a saga, anyone wanting to educate me on piracy laws or otherwise regarding copyrighted material, please don’t bother.

    I repeat, I have only moved the link further down the thread. If I had moved it and said “don’t use this link, it has been illegally obtained” would that have been ok. Obviously, so the issue, if there is one, is with whoever posted the original link.

    If I had even copied this link onto another thread, I guess technically if the link was indeed in breach of copyright than I may have done the wrong thing.

    But all I did was move an already available link further down the same thread.

    Sheesh, try and do the right thing and have to put up with this cra*, rhymes with trap. Would prefer post not to be moderated because of bad language.

  185. Michelle Roberts says:

    The link has been removed from both Tim and Pete’ post (I had missed it first time around which I do apologise for).

    Please do not post the link again as it is unfair to anyone who has spent money paying for the system.

    In regards to our reviewer coming to answer queries – I have asked him to and will ask him again. I must remind you though that our reviewers are volunteers (with busy lives) – they aren’t paid by MMR so I cannot force them to answer your queries.

    Same goes for the actual vendor of the product. Its up to him if he wants to come on to MMR and discuss his product with you – I don’t know him and cannot force him to come on here either.

    If any of you do want to contact Guy directly to ask questions (if you can’t wait for him to decide to come on here) then you can do so via the publishers Agora – their contact form can be found here:https://contactus.agoralifestyles.co.uk/al/

    Regards
    Michelle

  186. mike88 says:

    Just for information, the PDF link being talked about is freely available on the internet – a simple google search of ‘turnaround trader’ will bring up the link to it via Guy’s website so, copyright issues aside, I don’t think he intended for it to be for paying members only. From what I can understand it gives an insight to the system but certainly doesn’t allow the user to trade the system, easily, without becoming a subscriber? I am not subscribed so this is only my intepretation of it – I may be wrong!

    @Michelle – I do appreciate what you are saying regarding the reviewers being volunteers and I think it’s great that they do so in giving up their own time. However, in volunteering they surely must accept that there is a responsibility that goes with it in having to clarify occasional questions which are asked? I, like others, base many decisions on the reviews on your website and with a product such as this that you are actively promoting, given that you have a vested interest in doing so via your parent company – Agora, I would feel that you should work to clarify the issues that many of us are waiting to be answered? The results posted look great but they have been questioned. If these questions can be answered to the satisfaction of those asking them, then surely that is a great method of promotion because it will encourage more sales!?

    Just my thoughts

    Regards

    Mike

  187. Tim O'loughlin says:

    @mike88 Well said

    @Michelle – I have now looked at the actual website, and has already been reported, this pdf just gives people the opportunity to see what TT is all about.

    Without joining and accessing the system itself it is of no use. Just information as Mikes has said which is freely available on the net.

    So you may wish to put the link back up. It was posted believing it may be of interest to some, and as it is now clear there are no legal issues, is there a reason why it cannot now be displayed.

    And maybe a gentle word to cwilliams on getting he’s facts straight before accusing someone of publishing copyrighted material is in order.

    This may seem petty, but God knows you’ve had a go at me for far less!

  188. Tim O'loughlin says:

    Hear that? Silence, it’s deafening isn’t it?

    Not proceeding with this personally, and my request was ignored for the link to be put back up (no explanation given, not surprised really)

    Suggest others go to the site if interested and download file from there.

  189. mike_mmr says:

    Hello People, I am new to this site. I found it after searching for reviews for Turnaround Trader. The marketing blurb piqued my interest but I am suspicious of people who claim they have found a secret formula for success. After reading your comments it seems to me that TT is focussing on one tool from the field of Technical Analysis and claiming it is the solution we have all been looking for.
    However, even if the claims have been coloured by marketers, the offer to do all the leg-work for £197 remains an interesting one.
    But it strikes me the large stop-loss is necessary to allow the price some wiggle room to turnaround. But at the same time,the large stop-loss is what guarantees large losses in the event the price does not turnaround and requires the hit-rate to be substantial.
    How about this for an idea? We note the share prices that are likely to turnaround, but only buy when they actually do turnaround. That way there are no losing bets, and the stop-loss can be small. The price only needs to move by the size of the spread before we are in profit. Unfortunately this method could only be applied on days where we had time on our hands.

  190. philellis95 says:

    Hello, having one quite major problem I can’t get accepted for IG Index what other trading platforms compare to it?

  191. madhatter says:

    @philellis
    try spread co or gkfx

    madhatter

  192. geradra says:

    mike_mmr…..That`s a great idea mate! Losses far exceeding gains is never a good idea.

    Would any members here, who have bought and are using TT, be good enough to try Mike`s idea then let us know your results?…I`d be grateful if you would.

  193. mike88 says:

    @Michelle
    You mentioned above way back on the 25th Nov that you were going to get the reviewer to answer questions that some people had asked. This was then brought up again around the 14th Jan and you said you would chase the reviewer up again. Could you please give us an update. I know the reviewers do this off their own back but surely it doesn’t take 3 months top get a response. I, and many others, check this site daily waiting for updates and at the moment the results being posted by the reviewer have been questioned. The fact that he/she has not answered those questions naturally raises suspicions about the validity of them. Could you please provide an update.
    Many thanks

  194. philellis95 says:

    Hello Mike I actively use turnaround trader and have found it to be rather successful to date, I’m afraid that you are rather uninformed in regards to Turnaround Trader. You see the “alternative” methodology you mentioned earlier in regard to placing stocks, is strategy 2 to on turnaround trader. Now your Profit target for each trade is between 35%-40% this is successful with Doji bars 75%-85% of the time, (depending on how trained and selective you are, and RRT’s 85%-90%, if you do the math well… Guy is a professional guys and if you follow his training you can easily make it work, but you can’t expect to be spoon feed. The opportunity is there for anyone willing to put the work in and bite the bullet. If anyone who has not yet actually bought into the company could refrain from making speculations as it is unfair on anyone looking to join, and I would take a guess that they themselves are not really qualified to be giving advise

  195. mad one says:

    @philellis95

    ” If anyone who has not yet actually bought into the company could refrain from making speculations as it is unfair on anyone looking to join”

    Are you for real?

  196. ribboco says:

    into the company, what a Nellie

  197. mike88 says:

    @philellis95
    Thanks for your input, was your message directed at me? You say I mentioned an alternative methodology earlier on but I can’t see anywhere that I did? You ask if we could refrain from making speculations but we have been waiting for an update from the original reviewer since the 25th November last year as promised by Michelle. Therefore, this lack of communication or update from the reviewer instantly raises suspicions on the results which were posted. DocKen above raises many points which need addressing but still have not been. To stop any speculation perhaps Michelle could, once again, ask the reviewer to answer the questions being asked.

  198. philellis95 says:

    @mike88
    I think it was already stated that those who write up reviews on said products are volunteers, what is it that you would like Michelle to do?
    Of course you could volunteer yourself, I can’t see an issue with that.

    And the reason I asked that you might refrain from speculation was not to insult you or others, but rather to make sure nobody is put off by comments that ain’t actually correct about Turnaround Trader.

    Yes “mad one” I am indeed “for real”, I bought into Turnaround Trader and I find it to be a solid Strategy, feel free to ask anymore questions would be happy to help.

  199. philellis95 says:

    Oh and a 40% return in a month, with a strategy I find only has mild risks is a hell of a lot more than what most people will ever get!

  200. mike88 says:

    @philellis95

    You mention… ‘I think it was already stated that those who write up reviews on said products are volunteers, what is it that you would like Michelle to do?

    Refer to my comment to Michelle back on the 14th Jan at 10.45am for the answer to this. I would happily volunteer to be a reviewer for MMR and in doing so would accept the responsibility that goes with it of also being expected to answer the odd question which crops up from time to time. If somebody was questioning the results I posted then the first thing I would want to do would be to come back and defend myself against those – but of course, only if I had a valid response and I could defend those results to be true.

    I am genuinely interested in the product but the questions, by others, over the validity of the results makes me hesitant. As an active user, perhaps you could comment on the results which were posted by the reviewer – do you believe that they are achievable. You mention a 40% return. How long have you been using the strategy and have you been achieving a consistent 40% each month? Looking back you mentioned on the 5th Feb that you couldn’t get accepted for an IG account – have you only been using the strategy since then?

  201. DocKen says:

    Mild risks, philellis95???

    Please note that I have worked hard on Turnaround, and am a fan of Guy Cohen (despite the fact that I consider him to oversell and under deliver). OK, so nobody’s perfect. But Guy is genuine, and worth following, as you say.

    If you are spread betting, the Reward:Risk for Target 1 (the only target the Reviewer considered) is between 1:4 and 1:5. So, you would need to win between 80% and 83% of such trades just to break even!

    I found that, if you also go for Target 2, the average Reward:Risk for that part of the trade approaches 1:1 (for let’s say 100 trades or more).

    My experience tells me that to expect a 40% increase in my account in one month from Turnaround trades is a pipe dream. Of course, statistically, that may be possible on rare occasions. But to mention such possibilities gives an unrealistic impression of long term performance. I would call that overselling.

    I looked at both RRT signals and doji signals initially and amassed loads of data. It didn’t take me long, after all that analysis, to drop the doji signals. The RRT ones are far more profitable in the long run. Note that the Reviewer only looked at RRT trades, as well as only going for the first target.

  202. mike88 says:

    @DocKen

    Good to hear from you on this one. You’ve obviously been using it a while now so could I ask, have you been at all successful with Turnaround Trader? If so, what levels of return are you experiencing and are you still actively using it?

  203. DocKen says:

    I’ve had health problems, so have been away from Turnaround for some time now. But I am waiting for the US markets to settle before getting stuck in again.

    I never found doji signal trading, using all signals, to be profitable. But for someone with a better gift for choosing which signals to ignore (e.g. philellis95, probably), that could make all the difference.

    As to RRT signal trading, I found the following by risking 2% of my starting Bank on each trade:

    number of trades taken = 94 (ca 6 months’ trading);
    account Gain = 27%.
    (I did a modest amount of signal filtering for this.)

    i.e. a £10k account went from £10k to £12.7 in roughly 6 months.

  204. DocKen says:

    CORRECTION TO GAIN – PLEASE NOTE

    Sorry gents ‘n ladies. Not having a good day.
    I made a serious mistake in my calculations for the above Stats on 6 months’ trading.

    And please note that these are not actual trades, but paper trades. However, they do take into account the effect of spread on IG Index. The only thing they don’t account for is execution (i.e. human) errors.

    The overall Gain was only 7%. [i.e. NOT 27%]

    The higher figure I gave by mistake was for my own method of trading the signals, and I prefer to keep that to myself. I hope you understand; it represents a large amount of work on my part to find a trading plan that works better for me.

  205. DocKen says:

    Philellis95 is clearly better than me at filtering out losing signals.
    My success rate was only 79% on those 94 trades.
    I think that can be improved upon, especially since philellis95 managed 85-90%.

  206. DocKen says:

    Out of interest, I have just calculated the overall Gain to be expected for an 85% Hit Rate of RRT trades, assuming the same proportion of trades go on from T1 to T2 as was the case in my trading:

    100 trades at 2% Risk would give a 24% Gain.

    Note that 50% of a trade is closed at T1, when the Stop is raised to break even, leaving 50% of the trade to run to T2, as per Guy Cohen’s rules.

  207. philellis95 says:

    @Doc Ken

    Thank you for your response, as you have been using it for longer I respect your analyses. However I your mentioned there is a lot to be said about cherry picking what trades to implement, especially in this rather volatile market we find ourselves in. Once again I’d be happy to trade notes with you. The seminars are extremely helpful.

    Indeed 40% is certainly a great profit, however I’ve been among many a companies, with turnaround trader I do not believe it to be a “pipe dream”, but then again the strategy is more about teaching you to become a trader.

    To answer the other question I have been trading with real money for a month, and monopoly money the 2 months previous. I made between 25%-40% on each month

  208. philellis95 says:

    @mike88

    Oh for the reviewers original results, I have not looked into them like DocKen, however what I can say is that indeed his results are not valid. He used a non advised strategy and I would press to say that in the long run it wouldn’t work. I also noticed that for my taste, he was too trigger happy when placing trades. This month I’ve cherry picked 12, therefore minimizing risk, and you know what probably maximizing profit too

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