Hi,

We actually got in at 9925 - Just before the close so a slippage of 5 points for us - sometimes it works this way sometime the other - for example we have made a 50 point profit sometimes because we were early/late. Sometimes a 30 point profit, as in today, for consistency we always report the baseline profit/loss. It's just one of those things that we accept.

It's all about timing - as a a note - if we get a bad price and by the time we get the confirmation details through, the price has moved against us, we consider adding to the open position.

Hope it helps and as always do contact support and ask for their view on this.


ReviewTeam - www.systemsfortraders.com

Hi Review Team

I was considering signing up to Dow Letter. How are you doing in June performance wise? Are you still using IG for this as I notice their spread out of hours is 6 points on the DOW? Capital Spreads for instance have a 2 point spread overnight so potentially could yield more positive results. Off topic, I know you guys recommend Sniper Forex too but the results lately seem pretty dire. If I were looking at a new system to trade (I already use LFO) would you choose Dow Letter over Sniper?

Thanks
Alex

Hi Alex,

There have been just 2 trades this month - a losing one and a winning one so a net -25 point loss.

Interesting regarding Cap spreads - Do you know - Is it tradable 24 hours a day ? IG is and thats why it works well for DOW Letter as it can close out at any time. If Caps operates the same way and it's a 2 point spread 24 hours a day that is certainly a worth while change.

Off topic - To be clear here and we have stressed it many times - We never ever recommend any system or service to anyone, we simply make it public which systems/services we use and report all related trades - As per our Systems/Services We Use boxes on the left of our website. We do not consider ourselves qualified to recommend any financial product to anyone. Sorry - Just want to be clear on this. Anyway, in relation to which system, as above, we cannot recommend either of them, we do not know your trading style, your age, your objectives, your financial situation, your availability to trade, etc. nor do we wish to. Sniper, as you point out, is performing poorly of late and we are almost certain we will be taking this off our Systems We Use list at the end of this month. If and when we do stop using any system/service (we do not take these decisions lightly and usually on a 6 month review cycle (the last one was at the end of last year) - Chopping and changing between systems and strategies does no one no good - In our opinion) we will provide details and reasons for that decision. We like DOW Letter because it suits us - We are around - It takes moments to place the trade - Historic results are great - And we hope to see improvements more in line with the historic performance.

Hope the above helps.


ReviewTeam - www.systemsfortraders.com

Originally Posted by Reviewteam

Hi Alex,

There have been just 2 trades this month - a losing one and a winning one so a net -25 point loss.

Interesting regarding Cap spreads - Do you know - Is it tradable 24 hours a day ? IG is and thats why it works well for DOW Letter as it can close out at any time. If Caps operates the same way and it's a 2 point spread 24 hours a day that is certainly a worth while change.

Off topic - To be clear here and we have stressed it many times - We never ever recommend any system or service to anyone, we simply make it public which systems/services we use and report all related trades - As per our Systems/Services We Use boxes on the left of our website. We do not consider ourselves qualified to recommend any financial product to anyone. Sorry - Just want to be clear on this. Anyway, in relation to which system, as above, we cannot recommend either of them, we do not know your trading style, your age, your objectives, your financial situation, your availability to trade, etc. nor do we wish to. Sniper, as you point out, is performing poorly of late and we are almost certain we will be taking this off our Systems We Use list at the end of this month. If and when we do stop using any system/service (we do not take these decisions lightly and usually on a 6 month review cycle (the last one was at the end of last year) - Chopping and changing between systems and strategies does no one no good - In our opinion) we will provide details and reasons for that decision. We like DOW Letter because it suits us - We are around - It takes moments to place the trade - Historic results are great - And we hope to see improvements more in line with the historic performance.

Hope the above helps.


ReviewTeam - www.systemsfortraders.com

Thanks for the quick response. On checking with Cap Spreads they are offline on the indices from 10.15pm to 11pm so I guess this is not going to work then. Shame. Have you also written a review or tested this other FX Strategy that advertise on your website, the "1 Minute Daily" strategy? Web site is Trade Forex 1 Minute Daily.

Appreciate you can't recommend or advise on strategies but I am simply looking for something mechanical that has a set and forget approach similar to LFO. I have been using "Net Trap" recently but remain unconvinced by this one. Thanks again! Alex

Hi Alex,

You are welcome - Thanks again for looking into that and confirming our suspicions. The review for 1 minute daily is in progress and we hope to get it published this week. We are quite liking it so far, more so than Net trap where our opinion in in-line with your own.


ReviewTeam - www.systemsfortraders.com

Originally Posted by Reviewteam

Hi Alex,

You are welcome - Thanks again for looking into that and confirming our suspicions. The review for 1 minute daily is in progress and we hope to get it published this week. We are quite liking it so far, more so than Net trap where our opinion in in-line with your own.


ReviewTeam - www.systemsfortraders.com

Thanks for this. Would you mind giving me a nudge when the 1 minute review is live? Looking on their website the performance figures seem astronomical. Do you know how this system is peforming in 2010? I have sent a message to the authors via their website so no probs if you don't know and I'll share their comments if you wish.

Although net trap seems to have a decent historic record I am unconvinced about basing trades on a trend from 4am till 6.15am and then looking to exit 2 hours later. The other approach I tried earlier this year was the Tenkei one. I notice you have reviewed this one too and personally I was far from happy following this and the author suspiciously never seems to have losing trades whereas most weeks I was breaking even at best. I think this is why I like LFO as at least results are going to be almost identical to the author.

Hi Alex,

Have split your last post into two and put them in more appropriate forums where they may also be of interest to others looking at the same subject and so as not to "clog" this DOW Letter forum, hope you don't mind.

The Net trap post has been moved to the trading room here.

The 1 Minute post has been moved here.


ReviewTeam - www.systemsfortraders.com

3 DOW Journal trading signals in June - Two winners and a loser for a net 10 points for the month.

Thats a profit of just over 1% based on 5% risk per trade and 60 points risk per trade.


Do remember, your comments are important, if you decide to purchase this service, 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

Subcribed to this service last month on its past history. Not sure if its going through a down run at the moment, but i have had 3 signals 1 winner, 1 loser and today which looks like its going to be a loser. If it loses i'm going to cancel my subscription, in my opionion the risk to reward ratio is poor for the price they are charging for the service

Yes, DOW Letter has struggled ever since we started with it however we like it because historically performance has been very good (before we started using it).

We are of the opinion and belief that it is just a matter of time before we start seeing the consistency previously seen. As it's only a couple of minutes effort an evening or so a week we remain patient with the outlook that we will soon be showing consistent returns rather than a see-saw in and out of profit as we are at the moment (and have been since we started the service).

Just providing our view on the service.


ReviewTeam - www.systemsfortraders.com