URL : Piptastic Website
Cost : £19.99
Author : Damon Elliott
Review Date : November 2009

WHAT IT SAYS ON THE WEBSITE

This is a product that only used to be available on eBay, the new web-site was launched whilst we were doing our review.

Damon (the owner of Piptastic), "trades the FTSE every day for consistent profits" without "a losing day in over a year" and has tried "Earlybird, Louise Woof Evening Trader, Wealthbuilder, 1GR, Genesis", to name a few and "like you I have failed to make any money from them".

His product focuses mostly on revealing "the real reason why 95% of home traders fail" and showing "the exact steps you can take to start earning an income from spread-betting the FTSE 100 or any other market you choose".

Damon who almost 1,000 members currently sells his wares for £19.99 on the basis that "I was fed up with people selling rubbish systems & new traders being left out to dry" and "this is his way of giving something back, plus I like the company".

For your purchase price you can expect to receive a whole host of information on 2 CD's (access is also provided on-line too). The deliverables include:

- FTSE Strategies Exposed manual
- The one strategy that works consistently every day "to take 15 pips profit every day" Damon points out "no it's not a strategy of mine, I actually purchased this strategy a year ago"
- "One thing you can apply to any strategy to reduce up to 95% of losing trades"
- My own strategy that I use every single day to earn 10 "20 pips before 11:30"
- FTSE Evening Trade manual
- Another strategy I use when the signal appears, usually for a 20/30 pip profit (signal appears 2/3 times a week) per week
- A Forex strategy for taking 10 pips late at night/very early morning "perfect if you work nights!"
- Various other information as well as full email support, daily updates (including screen shots) and video tutorials (over 2 hours worth)

There are many testimonials on display as well as a link to even more, seemingly satisfied eBay customers.

THE PURCHASE

£19.99 via the website or find it on eBay, search for "FTSE" and look for the unsurprisingly named seller, "Piptastic".

THE MATERIAL

There is a lot of content provided, all available via a download link from the website (after purchase). After reading through the documents we classed four of them as being specific Piptastic products; FTSE Strategies Exposed, FTSE Evening Trader, Break-Out Strategy and Midnight Trader. The remaining documents are really informational products but reasonable ones at that and most are at least worthy of a flick through, especially for those new to trading.

FTSE Strategies Exposed

This manual (33 pages) opens with a focus on Damon's background, Spread-betting (how it all works) and then Strategies (and why most of them don't work). All useful information to those new or relatively new to trading.

Damon also reveals the system (that is not his) that he uses which "works consistently every day to take 15 pips profit every day". We have asked Damon for permission and he is happy that we mention that it is the Markets Mastered/S&P Evening Trader system. Our previous review of this system can be found here.

Damon then explains his own system which he uses "every single day to earn 10/20 pips before 11:30" which also incorporates the "one thing you can apply to any strategy to reduce up to 95% of losing trades". The system is based on a 5 minute FTSE chart using a MACD with custom settings and price action around Pivot points with various options for Stop loss settings as well as Targets. This is a reasonable common sense strategy with a sound introduction to the various Stop and Target options one can/has to consider when trading lower time-frames (15 minutes or less). As part of Damon's Daily updates (by email) he lists the outcome for each option every day as well as screen shots (with commentary) of the day's Price action.

FTSE Evening Trader

This 27 page manual is, in essence a re-iteration of much of the trading information contained in the FTSE Strategies Exposed manual. It basically provides a little more detail on Damon's FTSE system (see above) which he uses again (from around 16:30 (UK Local time)) to take 10-20 pips each evening. Again, results are included in the Daily updates.

Break-Out Strategy

A 6 pager which describes another strategy Damon uses "when the signal appears, usually for a 20/30 pip profit (signal appears 2/3 times a week) per week". It is a simple breakout strategy for the FTSE which Damon applies with a 10 pip target and a 15 pip stop. Again, all results are included in the Daily updates.

Midnight Trader

This is a manual, about a dozen pages in length, which describes a Forex strategy for "taking 10 pips late at night/very early morning". It is, as the name suggests, a strategy that is used at midnight, on the EUR/JPY or GBP/JPY Forex pairs. It's set up is simple as are it's rules, which are based on Price action and a custom MACD. As usual, results are included in the Daily updates.

THE SYSTEM(S) IN THEORY

Set up for all Piptastic systems is easy and straight forward. Damon explains them in basic and understandable terms.

The FTSE (Morning and Evening) systems, as mentioned above require some decision making in terms of which Stops and Exits to apply based on ones Trading mentality. These options are well documented and choosing an appropriate approach is quite straight forward.

The Break-out (FTSE) and Midnight Trader (Forex) systems rules are clear and the systems are pretty much 100% mechanical.

THE SYSTEM(S) IN PRACTICE

As stated on the website this product is aimed at:
- Identifying "the real reason why 95% of home traders fail"
- Providing "the exact steps you can take to start earning an income from spread-betting the FTSE 100 or any other market you choose"

The FTSE Strategies Exposed manual goes into quite some detail on why traders (and systems) fail and also provides an introduction to Damon's FTSE (Morning) strategy. The other 3 manuals expand on this strategy as well as defining two others.

There is also the Daily updates. These are emails sent by Damon detailing the results for all the various systems as well as screen prints and his own commentary on the days Price action. This is the best personalised daily email service (in relation to a trading system) we have come across to date.

All in all the product does what it says on the tin, it illustrates why most traders (and systems) fail and it provides steps you can take to start earning an income from spread-betting, in the form of three/four base-line systems.

CAN IT WORK

For us, the value of this product is in the educational aspect. It is an excellent source for all those looking to venture into shorter time-frame trading (15 minutes or less) and in particular the FTSE. The Background information, the base-line systems, the Daily commentary and the access to Damon personally are invaluable tools for those new to this arena.

Yes, the systems can be traded "as is" but we would consider them more of a base-line on which, with education (the Daily updates really help) and experience, one can build on/enhance to suit their own trading style.

To accommodate this, Damon has recently started to offer a "further education package" (which costs £69.99 as we write) for 6 months access. Please contact Damon for more information as, at present we have no experience of this product.

SUPPORT

Usually within 24 hours and always personal and helpful.

CONCLUSION

PRO's
- A very decent product from a genuine and honest guy.
- An excellent source of information, trading principles and ideas for new and in-experienced traders.
- Daily (sometimes witty) update email covering all systems and daily price action (of the FTSE) is second to none.
CON's
- None really, other than, we would say the systems are best considered base-lines upon which to build. (And yes, they can and some do, use them "as is")

PS: Not a losing day in over a year! We take your word for it.


Do remember, your comments are important, if you decide to purchase this system, please support us by using our link and reporting back your findings, both are valuable to us and the service.

ReviewTeam - www.systemsfortraders.com

I have purchased this a few months ago. I like the material for educational purposes but trading using pivot lines only, isn't for me. There just isn't enough action for me.
But Damon also emails his trade setups for the ftse each day, and this is very useful, as you can always learn new techniques. I like the fact that I'm learning from a trader who is making a living from trading each day.

I've also visited his website with an interest to join the live trading room, to see how his pips are earned, and also to interact with other traders via the chat room.
I joined this yesterday and took part in my first live room session today. I've paid £50 for the month access. If all goes well, I may sign up for the 6 months membership which is a lot cheaper. (as long as I'm earning pips too)

Today, I saw a few trade setups, and I would have earned 20 pips if I had traded them all.
As it was, I traded using my demo account, and took 10 pips.
So a good start.

I'll keep updating this, so you can know how useful this live trading room is.

Raj

Thanks Raj,

Always interested to hear how Piptastic is progressing on its various paths. We are currently trying to find sometime to join in too so we can provide some feedback, in the meantime, we welcome yours.

Just done my first week with the live rooms at Piptastic.
There are 5 live trading sessions provided. 2 in the morning, 1 in the afternoon, and 2 in the evening.
Tuesday 9.15-11.45am
Wednesday 9.15-11.45am, 6.15-9pm
Thursday 2-4.30pm, 6.15-9pm
I was able to see everything Damon does, via a weblink, and there is a chat box, to talk with other traders.
We then help each other out by calling out any potential trades that we see, via the chat box, also Damon is looking through various fx pairs and indexes and teaches us as well of any opportunities in the markets. We then trade any potential setup and try and earn the pips.

Not every trade will be a winner. I had 1 losing trade of 25 pips, then had to make another 3 to be back in profit again. The losing trade was my fault, because I rushed into the trade late, and got in at a silly price. On average, for the week, I've earned 10 pips per live session. The Live sessions total about 12 hours for the week.
I believe this is a very good service provided by Damon at piptastic. I'm learning to become a more disciplined trader by seeing how he makes a living by trading.
There are also other full time traders in the live room, who will also call out some trading opportunities. it's a very good support forum.

I have 3 more weeks, and will continue to post results on Friday. (worth the money so far)

Raj

Raj,

Thanks for that informative update. Damon is someone who we have plenty of time and respect for and we really enjoy communication with him. A rare individual in this "system/service vending" world.

Hi, I only attended 3 live sessions this week. I earned 10 pips per session.

Also, earned some more pips outside of the session using some of the knowledge gained from the live room

Going well so far

Hi,
I’ve just met Damon over the weekend at his weekend course where he teaches all the 21 methods that he uses to make his pips each day. It was a very valuable course and highly recommended. I feel a lot more disciplined and confident now to trade.
I was a bit reluctant to book this at first because of the cost £400, but now glad that I did.

I have also joined his live trading sessions for another 6 months. I hope this will further cement the knowledge and discipline into me.

I’m just trying to go through the course material again this week as there’s a lot to remember but well worth the cost. All the other traders on the weekend course feel the same.

Hope this helps

Raj

I have been a member of piptastic over 6 months and can confim that the minimum
i achieve in the live room is around 15/20 pips in each session.
The inforamtion he imparts during these sessions gives the trader a better ability as to when and where to take trades.
By helping newcomers to Fx /indices to aim for 10 pips a day in 2 x 5 pip bites.
In the live room looks at around 5 currency pairs and wall st/s and p and ftse.
His aim through careful mentoring is to establish more full time traders by gradually
getting them through to this stage by compounding their account from say
£1 a pip (stop loss 15/20 pips) for total of 10 pips £ 10 a day to
£20 a pip (same stoploss) for total of 10 pips £200 a day
which should enable most members to become full time.
This is easily achieveable each week as 75/100 pips is average.
Some weeks you can achieve 250 pips just in the live room.
Many of the members including myself, try to stop after making 100 pips a week.
Its exceptional value when there are so many false and expensive systems and operators.
I will be going to his next weekend course to improve my skills and meet Damon to thank him
for his service.
Michaelc

Hi,

Thanks for your update on the Live room - It is a review which is in progress at present and your comments are in line with our experiences to date.

Appreciate you taking the time to post.

Hi evryone Raj can i ask is it worth it i was sent an email for te seminar dvds iam i have been a memeber of piptastic for sometime know ,but i dont know if its worth it .......considering for the ftse is working fine..........and the evening ftse strading strategy is the same as the morning one has i don t have info on that .............many thanks.