GreatTrader

[pbucko80]

Hi, I came across this system on ebay and was just wondering if anyone's had any experiance with it and if it would be possible to put it on your systems to be reviewed list.

It uses Metatrader, can someone give me some advise on the best brokers that support Metatrader with possible offers matching funds etc.

[Reviewteam]

Thanks for the suggestion, Request List, updated.

In the meantime if anyone has any experience of this service, your input would be appreciated.

(In relation to your Meta Trader query, it's really a matter of choice and finding one that suits you, we personally use ODL (and sometimes Alpari), these are not recommendations just our choice. In terms of the best deals, again, its a case of looking around and finding one to suit you, most of them have some offers of some description most of the time - hope it helps)


ReviewTeam - www.systemsfortraders.com

[jrptick]

Hi pbucko80 and Review Team,

I actually bought GreatTrader (GT) on eBay a while back for something like $4 (yes, four bucks!) as a bid that was accepted - lucky weekend timing meant no other bidders were around!

Basically it's a trend following system you can use in M30, M15 or M5 timeframes plus also using M1 as Entry/Exit reference if required. GT uses a variety of indicators modified by the author to suit trading major crosses, such as MACD histogram, PSAR and a volatility stop channel heavily disguised to appear like the PSAR (sort of double confirmation).

It's ideal for a trending market only and you will get losses whenever prices consolidate (range), plus as you have to wait for all indicators to "line" up this often means missing a good proportion of any trend, but it will catch some good intraday price movements if you use the shorter M5 timeframe.

The accompanying destructions leave a lot to your own interpretation as the author hasnt really set out his own rules in clear English - absolutely no disrespect here as I can't speak a single word of his native language! - So there are a few hazy areas, but if you can understand the basics and have knowledge of trend following methods and find a trend to follow, then it's not a bad system despite it's lagging indicators.

BTW; You dont need to register your MT4 platform to use the GT system, author has forgot to update this part of his sales page spiel.

Apart from the drawback mentioned above the only other thing you must be aware of is that GT is quite PC resource hungry but it's indicators do not re-paint (unlike a majority of stuff out there) although you must wait for a price bar to close before placing any trades as a couple of the GT indicators are current bar sensitive.

If you are going to buy this then be patient and keep your maximum bid very low, it might take several weeks to get a good price - author usually releases one or two copies a week for eBay bidding. If you are new to trading then GT is a good way to practise finding a trend and placing pretend money on a demo account, but there is nothing unique in the way the indicators work and these are all available for free on the net.

Hope this helps - best regards,

Simon.

[Reviewteam]

Hi Simon,

Of course it helps, thanks a lot for that, much appreciated by us and others, we are sure.


ReviewTeam - www.systemsfortraders.com