PIPTASTIC (Intra)

WHAT IT SAYS ON THE WEBSITE

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

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