Website : TenKei Trading Techniques Website
Publisher : Wilson P Williams
Cost : £187 with a 30 day money back guarantee
Review Date : May – June 2010

WHAT IT SAYS ON THE WEBSITE

Headlines with “Copy my simple, proven Spread betting system and you could make £2,000 tax free per month starting with just £500 – And Yes! You can even trade in the morning or evening!”.

The aim is to “use my step by step plan to make just 10 points a day between 7:00am and 9:00am or 7:00pm and 9:00pm”. “At just £5 per point, you’d be making £250 a week or over £1,000 a month”.

Wilson P Williams “started in business as a consultant way back in 1987” and whilst looking for “fresh ideas of how to generate fantastic sums of money for other people” he had a “eureka moment”. All he needed to achieve was 10 points a day. He found, “through sheer persistence ... a single style of trading and started executing one simple strategy, my results took off, they were literally astounding”.

By using the Tenkei Trading Techniques “you can expect an 80% strike rate” It’s a “simple straight forward manual” with no “get rich quick nonsense”. It is based on a “core trading model you should use. Not twenty models – just one, that works”. Wilson worked up from £1 to £50 a point, or £10 a day to £500 a day, on 10 points a day.

The “advanced material ... will skyrocket your results quickly”, “you’ll know what exactly to look for in under 30 minutes!”.

Wilson provides; Copies of previous trades with full screen shot walkthroughs, a list of previously asked questions to fast track your Tenkei knowledge and full email access (to him) for a full 6 months.

As mentioned above there is a 100% money back guarantee with this system.

THE MATERIAL

Four PDF’s and three spreadsheets delivered via email. The manual is one of the PDF’s, the other three are as follows:

• An illustration on how to set up a Trading account
• How to tile your (Spread bet) charts horizontally
• Tenkei Trading Techniques Updates

Two of the spreadsheets (Trading plans) demonstrate how, when making 10 points every day, a small trading account can grow substantially within 12 months (Note: These spreadsheets assume you make 10 points each and every day). The other spreadsheet requests an Entry point and a £/point and then uses this information to show where Target/Stop levels should be as well as the potential profit/loss for that specific trade.

Back to the manual, a 102 pager that “does not contain a lot of ‘filler pages’” for a system that “can generate you a guaranteed income in the region of between £200.00 to £217,000 each and every month and more if you so desire”. The system “requires no more than an hour every day at preferably the same time everyday”.

The first 35 pages also cover the definition of a Moving average, an introduction to some brokers, the requirements (what you will need) to trade and then around 20 pages covering the Trading plans (the excel spreadsheets demonstrating compounding). A bit of an elongated introduction in our opinion.

The “overall idea” of the system is that it will have a typical learning curve of 30 minutes, after which time you will have an 80% chance of winning every trade.

A dozen or so pages explain chart setup, quite well. The core to the system being the 1 and 3 minute time-frames with the same 3 Moving Averages on both. The instrument of choice is the FTSE starting from 08:00 or 08:15 depending on the early market activity.

The strategy itself is then explained over 20 pages or so, it is quite detailed and well presented with working examples, etc. Entry is based on two criteria being met, the first on the 1 minute chart, the second on the 3 minute chart. Supporting price action then confirms entry.

The Target is 10 points per trade, sometimes 5 points if the markets are being “a little shy, stingy or just plain old mean”. 10 points is the aim for the day and it also removes the “greed” emotion from trading. It is recommended to lock in profits quickly when the market moves in the direction of the trade and to then employ a trailing stop.

An alternate Exit criteria is offered based on the action of 2 of the Moving averages (on the 1 minute or the 3 minute time-frame).

A Stop loss of between 10 and 15 is always applied.

The remainder of the manual concentrates on the mental aspect of trading, some higher time-frame consideration, tips & tricks and further reading.

The Tenkei Trading Techniques Updates PDF is not only worth a read, it is essential, as it contains additional guidelines which have been introduced over the course of time. These additional guidelines include entering on a break above/below the high/low of the confirming candle or 5 or 10 points above the Moving Average crossover. A number of useful working examples are also provided.

THE SYSTEM

This system does have a rule base. It is essentially a scalping system which looks for anything from 2 points to 10 points (or more) per trade with an overall target of 10 points a day.

However, there is quite a lot of room for discretion when bearing in mind the rule base.

Instrument Traded – Sometimes DAX, sometimes FTSE, but usually it doesn’t matter as it is generally advised to trade when both are moving simultaneously.

Start Time - 08:00/08:15 depending on market activity. This is discretion itself, however, during the period we looked at this system some Daily updates had trades from as early as 07:00. This is because Wilson was around and seen an opportunity at this time. This is fine but it does mean that you will not be emulating his daily results just because you are there for the 08:00/08:15 start time.

Entry criteria – Discretion here again, one of two rules are generally applied, a break above the high/low of the trade confirmation candle or 5 or 10 points above the Moving Average crossover. The former was more generally applicable in the Daily updates although occasionally it was the latter. Some trades were entered without reference to the 3 minute time-frame and some, purely on the direction of the Moving Averages, further discretion.

Stops – Not mentioned a great deal other than 10 – 15 points, again discretion required.

Targets – Typically 10 points and to lock in profits when in profit and then to employ a trailing stop. Targets/Reasons for exit differed on the Daily updates for various reasons – Market looked like it was stalling, only needed 2 points, etc.

Wilson makes reference to a “Core Trading Model”, we believe this term is more applicable than the “rule base” we used initially. This is because the system is based on the fact that discretion will be applicable depending on the individual characteristics of each trading opportunity.

CAN IT WORK

This is not the type of system we like to trade. We are not scalpers and none of us ever wish to be that type of trader – perhaps it’s just too exciting, we like to think too fast, for us. But, for review purposes, we did give a go for a few weeks!

As mentioned above Tenkei does have a “Core Trading Model”. There are however, many areas of discretion which become apparent when you try and trade the system and also when reading the (very useful and informative) Daily updates. These updates which Wilson provides, with screen shots and reasons for entering/existing trades, are extremely well done and essential daily reading for those trading Tenkei.

Tenkei, in our opinion, is a strategy that will suit some people. It will suit people that like scalping, those who like to trade for an hour a day on short time-frame charts and those that want to learn and apply discretion to a “Core Trading Model”. This learning curve for those that do adopt Tenkei, will be greatly assisted by the excellent Daily updates. We just prefer more static and mechanical rules, perhaps this is just not a feasible request when scalping.

NOTE: We believe the Daily updates are now provided for free for the first 6 months, thereafter there is an optional subscription service at a cost of £27 a month which includes, amongst other things, the Daily updates. Probably worth it for those that use, apply and chose to learn the Tenkei system.

SUPPORT

Support is excellent, we never waited more than 24 hours and a typical response was received within the hour.

CONCLUSION

PRO's
• A useful “scalping” rule base, or to use the more appropriate term “Core Trading Model”.
• Excellent Daily updates and responsive support.
CON's
• Not for complete beginners.
• Not a system that fits our trading system “requirements” or our trading “personality”.
• Too many discretionary aspects, for us.

NOTE: One thing that was most surprising for us was that we could not find one single example in any documentation (including Daily updates) where Wilson ever had a losing day. We are sceptical here but on the other hand if others, who like scalping, can get to this stage with his assistance then all the best.


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

ReviewTeam - www.systemsfortraders.com

It looks like trying to nail jelly onto a vertical wall !!

Hi guys

I love the website, keep up the good work!

However, good review but it really cuts short on your opinion. You guys said you've tried it for a few weeks but no real conclusion on how the experience was. Fair enough its not your 'trading style' but some idea on profitability would be interesting! Did you guys use it enough to make a decent 10 point profit or seemed unlikely? I would enjoy scalping so I wouldn't mind getting this but your opinions are important to me that's why I read this.

I bought the system last year, and tried t follow if for about a month. Firstly, I admit that I never really gave it a good try, so cannot comment on the effectiveness of the system.

However, the one thing that I did notice when reading the daily reviews, is that Wilson always seems to decide on his overall direction, which just happens to be the winning direction. Now, remember that these reviews are prepared in hindsite, it is quite concerning that he seems to arbitarily decide on his daily direction based how he is feeling. He will sometimes say that he only feels like "buying today".
Yes, this is not part of his sytem, and he never explains why or how he makes these calls.

To me it seems that very suspect, and may be a way for him to manipulate the results to his advantage.

Anyway, I may be way off, but just be weary.

Thanks for the feedback guys.

Regarding results. The original review we produced did contain a paragraph (two) about our results. But we decided not to publish it in the end as we thought it arbitrary. The reasoning being that we never "got into the system" to the stage that we had "learnt" the discretionary aspects, as per the main review.

However, out of interest here are the paragraphs.

We used this system in real-time over a period of 3 weeks or so, we were quite enthused (it was short lived though) with the challenge of being "scalpers". As a rough outline, we traded the FTSE from 08:00 each morning, we used both time-frames, entered on a break above the high/low, locked in profits when the market moved in our favour and employed the recommended trailing stop. First observation is, you gotta be quick, not just pulling the trigger but also getting those Stops and Targets in. Trade management is also quick, get ready to lock in that 1 point profit and then that trailing stop. Not one for the faint hearted this. Results wise, at the end of the (intense) 3 week period, we were up by a princely amount of 24 points. Thats about a 4% return (as we had an 11 point stop - we added the spread, 2% risk per trade) for an hour a day (we only traded until 09:00) over a 3 week period. Interestingly enough, it was 50/50 as to whether the trade we took was the one identified in the Daily update.

So, we did not make our 10 points a day and we only matched the Daily report trades about 50% of the time. As mentioned above, this is probably due to us not giving ourselves the chance to "get into the system". To be honest we just didn't want to - it didn't suit us - we didn't enjoy the "rush", the manic trade management, etc. So ... As per the main review - there is a reasonable methodology here and the system may be suitable to some, who wish to become scalpers or enhance their existing scalping knowledge.

Hope it helps and apologies for leaving it out as we felt it inappropriate but having now posted it we can see it has some worth.


ReviewTeam - www.systemsfortraders.com

Hi,

First of all great site for beginners like myself, really like all the reviews, saved myself some money by not buying some scam.thanks very much

I've been using this system for about 3 months, first month down £35 ( 9 trading days ), second month down £90 ( again, 9 trading days) , thought i would give it one more month, changed my trading tactics a little, and made profit of £120 ( 21 trading days),

my trading tactic now is take between 2-5 pips each trade, I don't go hunting for 10 pips, the market changes to often, result you get stopped out, i trade after work any time between 6 and 9, You are right, it is hard work, but in my opinon good fun, but not for everyone,

Hope this helps

Regards

Hi,

Well done and thanks for the input. It's always encouraging for us when someone with experience of a system has a similar view to us - we feel we are at least getting it right.

Please do update us next month as its always interesting to hear how any system is performing.


ReviewTeam - www.systemsfortraders.com

Hi people

Just found this site but have experience of this Tenkei system. I have been trading for around 2 years and got burnt many times by silly moves from me

Yes, it takes a lot of watching but I have to warn people NOT to trade the faster moving indices with just a 10 pr 15 point stiop, the DOW will eat you alive for that one

I have had email correspondence with Wilson and he admits that the DOW is a pig for this system plus do not try this on FOREX. Any fast moving index is a no no for this type of trading. Sure, get it right and you make money but get it wrong and you are more or less instantly stopped out. I lost money on this system and only made it back by reverting to how I used to trade.

I would say it is not Wilson's system that is at fault but the knowledge of those who think it is possible to trade with no real knowledge. You can make money from it but you have to know how the index itself works and is affected by news. For instance the Dow, sure it moves around a little between 1900-2100 but not always how you would think. Some days it will move more uniformly such as a drop before 1930 and a run up towards the end of the day. The art is simply to learn how the index tyou wich to trade works and never, never try the FTSE or DAX on the opening of the DOW at 1430.

Wilsons system is basically a moving average/trend system. I made some suggestions to him by email over including other indicators to give a better idea of maket direction/sentiment etc.......but received no reply!!! Says it all to me.

Sure, try it......but learn the index you wish to trade....they are not all the same and I can assure you that despite what Wilsons states, these markets do NOT necessarily move together in the same direction. Neither is it true that a rising equity index means a dropping Forex. A rising market can also support it's currency....I have been caught that way before oops

Welcome to the site and thanks for taking the time and effort into providing that feedback on Tenkei, we are sure it will be useful to others.


ReviewTeam - www.systemsfortraders.com