Trade With A Day Job System Review

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Trade With A Day Job System Review

 

Welcome to our review of Trade with a Day Job (aka TWADJ)

The Trade With A Day Job (TWADJ) system from Markets Mastered is a method of trading one of the US indexes that can be applied in the evening between 5.00 and 9.00 UK time, hence the title, as many people would have finished work by then.

My only reservation with this would be the time it often takes for people to get home and the fact that you would then have to keep an eye on the computer during the evening, but that aside, my initial impressions are that this is a useful system that does what it says on the tin. From looking at the charts, I would also suggest that it will work at other times of the day as well although this is not mentioned, so this may be something that you could fit into your lifestyle quite easily.

TWADJ is delivered electronically in the form of a 73 page pdf file and although there are, to my mind, a couple of minor detail errors, the manual itself is well written and does a good job of explaining the system and how to use it with plenty of examples.

At £88, I think it is quite reasonable, especially when compared to some of the other offerings around and comes with a 60 day money back guarantee. Support is provided via a web site and email and the Author, Nick, claims that he has never had a losing month in the years he has been trading it; quite a bold claim.

Annualised figures are given for the last 7 years, although not the actual details, so it would be difficult to confirm, but having said that, a quick look back through the charts suggests a highly profitable system, so I am inclined to believe the claim.

The Trade With A Day Job system is based on detecting a given condition and then looking for a candle pattern to confirm entry.  Nick explains everything clearly, giving some good examples in his manual.

Although there is a chart provided of the candle patterns to look for, Nick suggests downloading what is considered to be one of the definitive guides to candlestick charting and whilst this is provided on the site and again delivered as a pdf, it is 330 pages in length and unless you develop a real interest in this area and want more background, my own feeling is that this particular book is a bit over the top for what is required and would simply send you to sleep!

Having said that, it is useful to have a bit more knowledge about candlestick reversal patterns, but there are plenty of resources that can be found via Google, so initially I would be tempted to take that route instead.

Several Brokers and charting packages are suggested, all of which are easy to apply for. All provide charts in one form or another, either web based or installed on your computer. My own preference is for the MT4 package as I already use it extensively, but there are a few other options. TWADJ shows you how to set your charts up and what the settings need to be and as there is only the one oscillator to worry about, it is a relatively simple task.

The recommendation is that you spend some time getting used to the trading platforms and taking sample trades either on paper or on a demo account and although I did not actually take any of the trades, over the last 4 trading days (27/6/12-2/7/12) the trades I have seen indicated would easily have reached the suggested 20 pip target each time and if left to run would cumulatively have made in excess of 200!

I should say at this stage that I do have some experience of charts and spread betting, so I am aware of the principles involved. If you are approaching this from a position of having no knowledge at all, then it probably will take a while to get used to, but I think the effort would be amply rewarded! If you are new to this, all I would add is never be worried about not taking a trade. They are like buses – there will be another one along in a minute.

My intention is to trial the Trade With A Day Job over the next 2 months and report my findings on a regular basis, but from what I have seen so far, this is a system that I would happily trade on my own account.

Keith Gravestock

 

Trade with a day job – Final Comments

Well, it’s felt like a bit of a marathon at times, but here we are at the end of the trial. For anyone who has ‘stayed the course’, well done, I hope you found my comments worthwhile.

I have to say that from the moment I read the Trade With a Day Job manual, I had a feeling that this was a system that worked PROVIDED the user put the time in. Nick, the Author, states in the manual that it is important you practice spotting entry signals for at least 60 trades before you start going live and also looking back to spot entries yourself. I would concur with this and say that if you are prepared to put the effort in, you will be amply rewarded, but you DO need to put the effort in to learn the signals.

There are a couple of add ons to the main system that provide other opportunities for trades and I have to say that although the signals do not crop up that often, they are easy to spot when they do, so it is well worth the small extra investment..

Nick sends out examples of his own charts each day and I have to say that I still look at his charts and sometimes think ‘how did he work that one out’! Undoubtedly it comes with experience, but I get the feeling that you occasionally have to be a little bit ‘flexible’ with the application of the rules.

Having said all that, although I have not kept a strict record of gains and losses, partly because many of the trade set ups were looked at after the event, there were very few losing days which, considering the markets are often erratic during August, is not a bad record. Overall, I have counted 7 losses with a deficit of around 77 pips. However, when this is looked at in line with the positive trades, there were almost 50 days which would have at least met the basic 20 pip target, so 1,000 pips up! I think that is a record that speaks for itself.

I would thoroughly recommend this system with the one proviso being that you are able to watch the chart during the evening and although I occasionally struggle to find the time in the evening to give charts my undivided attention, Trade With a Day Job is a system that is definitely going into my arsenal.

Keith Gravestock

 

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Trade With A Day Job System Review Results

Although this review was due to commence on 3rd July 2012, the Americans were getting ready for and then actually celebrating Independence Day on the 4th, so the markets were closed! However, there were two trades towards the end of the week with Thursday returning 47 pips and Friday 82. I should say that although Nick recommends taking 20 pips per trade at the beginning, I am intending to report what could be acheived if the trade is allowed to run. The review will therefore commence in earnest from Monday 9th July, but an impressive start!

TWADJ Day 1: 09/07/12

13 pips this evening. Would have made the recommended 20, but first use of platform! Either way, a positive start.

TWADJ Day 2: 10/07/12

92 pips acheived over the space of about 3 hours. Could have made over 130, but normal life beckons!

TWADJ Day 3: 11/07/12

A 20 pip trade was available early in the session but as there was a News release due (FOMC Minutes), waiting until after the release gained 43 pips

TWADJ Day 4: 12/07/12

93 pips. I have, however, taken a bit of a liberty with this one as the 93 were available had you been able to enter the trade about an hour before the recommended start time. Had you only been able to trade between 5 and 9, then there were a couple of opportunities that would heve netted between 20 and 30 pips. Either way, positive results.

TWADJ Day 5: 13/07/12

No trade this evening. There had been a sharp up move during the afternoon and the index pretty much traded sideways for the rest of the time. Even so, looking on the conservative side, 168 pips for the week, so an excellent start.

TWADJ Day 6: 16/07/12

Bit of a strange day in trading terms, but 20 pips were available. I have to confess I didn’t see the conditions until after the event as it wasn’t really obvious, but it was there!

TWADJ Day 7: 17/07/12

Nothing obvious till near the end of the session, but met the 20 pip target.

TWADJ Day 8: 18/07/12

Again, not the easiest of days, but 20-40 pips were available, 20 straightforward, 40 if you’d held on. The last couple of days were unusual in that there were big moves during the day that meant the evenings were fairly quiet. All down to Ben Bernanke and QE3 in America. Hopefully things will now settle down.

TWADJ Day 9: 19/07/12

Probable loss of about 14 pips with no second trade allowing an opportunity to recover.

By way of clarification, most trades will be either ‘paper’ or demo as this is the recommendation in the manual covering the first 40-60 trades. Selection and reporting will be as accurate and realistic as possible.

TWADJ Day 10: 20/07/12

No signals, no trades.

 TWADJ Day 11: 23/07/12

As I was not going to be near the computer after the first trade triggered, I set a profit target of 20 pips. By the time I got back to the computer, it had missed my target by 1 pip! As there was a signal going the other way, I was able to close the first trade for a loss of 2 and took 25 pips from the reversal which eventually ran for about 50. Net gain on the day then of 23 pips.

TWADJ Day 12: 24/07/12

Not watching the charts live this evening as the weather is so good for a change and the family wanted a barbecue, but there was a clear signal which comfortably achieved the 20 pip target. There is another potential trade setting up as I write which I will report on later.

The second trade did set up and comfortably reached the 20 pip target with a further 30 pips if you’d held on.

TWADJ Day 13: 25/07/12

Although tonight’s report is retrospective, as I’m not able to sit looking at the screen on a wednesday, there was a clear entry signal and an equally clear exit area that would have resulted in a comfortable 50 pip gain.

 TWADJ Day 14: 26/07/12

A signal this evening that resulted in a loss of 14 pips with no further chance to recover. Probably would have been a good day to leave it alone, especially after M. Draghi saved the Euro. Again. Most Indexes had moved huge amounts during the day and this probably influenced the moves.

 TWADJ Day 15: 27/07/12

As I am going on holiday, there will be no further reports until 13 August when I will aim to post a retrospective view of what has happened over the next two weeks.

Watch this space.

Update: There was 1 trade available at the end of the session that made 20 pips.

TWADJ retrospective update Days 16 – 20, 30/07/12 – 03/08/12

Whilst this is a look back at what has happened, I have tried to scroll through the charts bar by bar therefore making the following report as realistic as possible.

Monday 30th July
Not the easiest of days, but there were 2 trades available, either of which would have made the 20 pip target
Tuesday 31st July
Clear trade that comfortably made the 20 pips and went on for, potentially, a total of 100. Realistically, I would probably have closed it at about 50. Either way, a good evening.
Wednesday 1st August
A clear signal and strong downward momentum would have easily met 20 pips and went on to 100
Thursday 2nd August
An early signal made 20 pips followed by another clear signal with movement that easily made 20 pips and went on to make around 80 without too much effort.
Friday 3rd August
As the first Friday of each month is the release of the NFP figures in America, it is generally considered to be a day to go fishing, or whatever takes your fancy. There was a trade available, however, for those with a considerable degree of patience!

TWADJ retrospective update Days 21 – 25, 06/08/12 – 10/8/12

Monday 6th August
Clear signal and strong momentum made 20 pips comfortably and went on to around +50 in total. This was one of those days when movement was sluggish to begin with and then took off, so the higher number would have been easily acheivable.
Tuesday 7th August
Again, a clear signal that, although it took its time, went on to reach 50 pipswithout too much trouble
Wednesday 8th August
Whilst there were a couple of signals, I would have skipped the first as my chart gapped up, not by much, but enough to put me off. The second made the 20 pip target but no more.
Thursday 9th August
Clear signal early in the sesion made around 30 pips in total.
Friday 10th August
Clear entry that went straight up for a profit of around 50 pips.

Whilst I accept that the last 2 weeks have been, to an extent, trading with hindsight, the entries relate directly to the signals given and in each case, the 20 pip target was met. The extra pips that were on the table may be considered to be subjective, but I have tried to be realistice about what I would have aimed to achieve given the chart conditions.

TWADJ Day 26: 13/08/12

Clear signal this evening with a comfortable 50 pip return

TWADJ Day 27: 14/08/12

I would have to describe this evening’s price action as a mess although there was a signal and a trade at quarter to five which gave a comfortable 30 pips. Apart from that, there were no further trades during the suggested hours.

TWADJ Day 28: 15/08/12

One signal that would have made 20 pips

TWADJ Day 29: 16/08/12

3 signals this evening, 2 of which would have been losers to the tune of 10 pips and 7 pips respectively whilst the 3rd would have made 20. This actually brings me to the one point about this system where I would have to take issue with the Author. For a short trade, the manual places trade entry 1 pip below the entry candle with the stop 1 pip above the high. The spread is not taken into account which I have to say I disagree with. I have always placed my stop when going short a certain distance above the entry point PLUS the spread, which in this case, is 4 pips. Doing so on this occasion would have made the second trade a 20 pip winner instead of a loser.

This point should not take away from the fact that this would overall have been a winning evening even though there was a losing trade which, I think, is only the third losing trade of the trial.

TWADJ Day 30: 17/08/12

Waste of time and effort this evening! By way of example, see the following screen shot. It represents a total of about 28 pips movement and as such, was not, imho, tradeable!

Let’s hope for beter next week.

 TWADJ Day 31: 20/08/12

Another messy evening and although there was a signal which did run for 20 pips, I think I would probably have left it alone.

 TWADJ Day 32: 21/08/12

Although this evening did have a nice trend, a lack of clear signal kept me out

 TWADJ Day 33: 22/08/12

Clear signal this evening that ultimately ran for 80 pips. 50 would have been easily achievable

 TWADJ Day 34: 23/08/12

Another clear signal that comfortably reached the 20 pip target

 TWADJ Day 35: 24/08/12

Clear signal, but 20 pips would have been touch and go depending on entry point. This was one of those days when the spread would have come into play.

 TWADJ Day 36: 27/08/12

Signal came just before the 5.00 pm start and actually took a few bars before entry, but did reach the 20 pip target and went on to hit 50.

 TWADJ Day 37: 28/08/12

3 signals this evening, 2 of which would have given the  20 pips whilst the third only just managed 19 but as with a couple of days ago, this is where the spread comes into play. Either way, it was a successful evening although price action is still within a very narrow range.

 TWADJ Day 38: 29/08/12

No signals within the time period

TWADJ Day 39: 30/08/12

Initial signal was a sell but before reaching the 20 pip target, at about +17, a signal arose to go the other way. The best option was therefore to close and reverse. Although the Author doesn’t mention this in the manual, it is the action I would adopt! This therefore turned a potential loss into a 40 odd pip winner, although you would have had to be watching the charts to implement it.

TWADJ Day 40: 31/08/12

Nice signal this evening resulting in a 50 pip gain.

TWADJ Day –: 03/09/12

No trades today due to it being a Public holiday in the USA and the markets therefore closed

TWADJ Day 41: 04/09/12

One trade this evening. I have to say it wasn’t the most obvious, not all of them are, but it was confirmed by one of Nick’s other systems and went for 70 pips without looking back

TWADJ Day 42: 05/09/12

Not the most obvious of signals, but it was there and comfortably hit 40 pips. Price action still seems a bit unusual at the moment and as there are some major news releases due over the next couple of days, I am intending to be very careful!

TWADJ Day 43: 06/09/12

I am not sure whether I would have attempted to trade this evening following today’s news releases, since there were some huge moves including the index traded moving over 200 pips. However, in the interests of science(!), there was a signal this evening that was tradeable and did achieve the 20 pips (but see comments). However, it also acts as a good example of my earlier comment about taking the spread into account. Nick, the Author, suggests trade entry is one pip beyond the extreme of the candle with the stop being one pip beyond the other end. However, a quick glance at the following chart makes it plain that this evening’s trade would have been a loser if the spread had not been taken into account.

The entry candle is the first one with the large arrow and it can be seen that before the 20 pip target was hit, there were 9 candles that would have potentially stopped the trade, indicated by the smaller arrows. Two of them came within a pip of taking out the stop + spread, so it was touch and go, but it does illustrate the value of taking the spread into account when going short. The spread is clearly illustrated by the 2 lines spanning the chart and vertically indicated by the solid green lines and the green rectangle. The grey line is the bid price whilst the red line is the ask and is not normally shown. When going short, the entry price is as shown by the grey line, but the closing price is shown by the red line – the ask price. That does mean, for the observant amongst you, that this trade would only have acheived 17 pips at most, since the candle that went through the profit target only did so by one pip. The ask level would therefore have missed the target by 3, so unless you had been watching, you could still have been stopped out for a loss. Price action would probably have induced me to close it early in any case.

My intention here is not to ‘preach to the converted’ as I am sure many of you will be aware of this, but this is about the only area in this system where I feel it falls short and I think it needs to be mentioned.

TWADJ Day 44: 07/09/12

NFP Friday, so no trading! In actual fact, there were no trade signals with the index only moving a total of 22 pips

TWADJ Day 45: 10/09/12

Not the easiest of signals to spot this evening, but one did arise with price then moving steadily downwards for a maximum gain of around 100 pips

TWADJ Day 46: 11/09/12

A couple of signals this evening the first of which gave, according to your risk tolerance, 15 pips, break even or a loss of 12. Personally, I would have been at break even as once a trade goes in my favour by 15 pips, I tend to move my stop. The second trade was almost at the end of the session and made around 30 pips.

TWADJ Day 47: 12/09/12

Slightly frustrating this evening as although there was a reasonable amount of movement and there were some clear entry opportunities, none of them were from this system, so, no signal, no trade

TWADJ Day 48: 13/09/12

Depending on your point of view, this was either a great evening to trade, or the worst! Following the FOMC statement, the index, along with many others, moved a total of 280 pips! Good if you were on the right side of it, however, it did not generate any signals for this strategy, so again, no trade.

TWADJ Day 49: 14/09/12

One signal this evening which met the 20 pip target.

TWADJ Day 50: 17/09/12

A very lacklustre day but there was a signal which made 20 pips

TWADJ Day 51: 18/09/12

2 signals this evening effectively from the same level. The first would have come very close to being stopped but either acheived the 20 pip target

TWADJ Day 52: 19/09/12

Clear signal this evening that easily made 20 pips. There was a second signal from the same level later on which, IF you had taken it and left it, would have made over 100! I appreciate this is a hindsight comment, but the index dropped fairly quickly and if I had been in this trade, would have let it run precisely because of the momentum.

TWADJ Day 53: 20/09/12

Nice clear signal, comfortable 30 pip gain

TWADJ Day 54: 21/09/12

Clear signal that did not deliver and stopped out after about 1 hour. However, as it was stopped out another trade was setting up that went for 40 pips, so initial loss recovered and overall gain of 20 pips for the evening

TWADJ Day 55: 24/09/12

Nice signal this evening that delivered a comfortable 30 pips and went on for about 50

TWADJ Day 56: 25/09/12

At least 3 signals this evening although one of them came shortly before 5.oo. All of them were profitable with the index moving a total of some 200 pips. The later 2 would easily have netted 100 pips each!

TWADJ Day 57: 26/09/12

Two trades this evening, but I still ended up down! As I think I have said elsewhere, I am unable to watch charts on a wednesday evening although on this occasion, the first signal arose before I went out. Having entered the trade, I set a profit target of 20 pips and came home to find it had missed by 1 pip! Even more galling was the fact that the second signal came as the price reversed and went for about 30 pips. I have to stress that the loss this evening was not the result of the system, more the operator although it does indicate that unless you are prepared to take a few more losses, then you do need to be able to watch the charts.

TWADJ Day 58: 27/09/12

Signal this evening gave the 20 pip target without too much of a problem.

TWADJ Day 59: 28/09/12

Nice signal this evening with a 120 pip move down. Trailing a stop would easily have made 90 pips.

TWADJ Day 60: 01/10/12

Ending on a high, clear signal this evening with a second opportunity to enter that easily made 50 pips

17 Responses to Trade With A Day Job System Review

  1. Hi Keith,
    Is this live or paper trading?

    Thanks.

    Michael
    July 19, 2012 at 9:40 pm
    Reply

    • Hi Michael

      Mostly paper and or demo although I have taken a couple of live trades. The Author recommends trialling the system for 40 to 60 trades and I would think that is a reasonable number to become familiar with the requirements. Any trade on a Wednesday is likely to be ‘hindsight’ as I am away from the computer.

      Keith
      July 20, 2012 at 7:46 am
      Reply

  2. Hi Keith,

    Are you paper trading these live or retrospectively every evening – the reason being hindsight bias can come into play, as in the “of course that was a long candlestick and so that was a signal” when you see a jump or a drop shortly afterwards. Also care with the result you are “taking”…rarely will you exit at the top or bottom of a trade, so putting in those higher numbers may be misleading if you’re not trading live (even on paper) and taking a profit/loss rather than retro-taking prices. If 20 pips is your goal, then regardless of how high/low it goes, then that should be reported… Just my tuppence worth.

    Enjoying the write ups of an exciting system!

    john
    July 23, 2012 at 3:10 pm
    Reply

    • Hi John

      In general, I am watching live charts and either taking trades on a demo account or ‘paper’ trading, so the results are as objective as I can be. The manual suggests a ‘standard’ 20 pip profit target, so any trades over this level can be assumed to have hit the 20 pip target comfortably. Other than that, where I have looked at the chart retrospectively, I have scrolled it bar by bar to make sure that I see any signals and targets as they would appear. The pips acheived are therefore as realistic as possible.

      Good to hear that you are enjoying it and I will say that it is something I fuly intend to trade actively going forward.

      Keith

      Keith
      July 23, 2012 at 5:01 pm
      Reply

  3. I’m quite convinced you’ll be happy with it.

    It’s an excellent system, and I’ve been trialling it for another site. Of course there are reviews out there that claims it is a scam and doesn’t work, but NOTHING works for people who are not ready to put the ground work into it.

    As wth anything Forex-related, you just can’t download it, read it once, and start trading. It takes at least those 40-60 paper trades. More so if you are new at Forex. (And CFD, which this is, really. )

    I hope you’ll come to the same conclusions I have.

    Cheers,

    Tomas

    Tomas
    August 6, 2012 at 8:45 pm
    Reply

    • Hi Tomas

      I totally agree with you. Everything I have seen tells me that this works IF the user is prepared to put the time in, which so many are not.

      I also agree with Nick, the Author of the system, when he says that trading is 20% system and 80% mind. Master the psychology side, take the trades as they are given and have confidence that over the long term, the wins will outweigh the losses.

      Regards

      Keith

      Keith
      August 13, 2012 at 1:50 pm
      Reply

  4. Hello Keith
    i have seen this TWADJ system advertised a while back, but the hours for use 5pm – 9pm is not suitabl
    e for me, as i work mainly evenings ,i am available to trade most days
    up to about 5.30 pm , you mentioned it could be used earlier than the suggested times

    kevin garland
    September 23, 2012 at 11:47 am
    Reply

    • Hi Kevin,

      My comment regarding it’s use outside of the 5 – 9 pm timeframe was made as a result of noticing a number of occasions when trades set up for exactly the same reason. I have not made any sort of objective study of use outside those hours, but the basic premise, candle patterns and divergence, are likely to work with any pair at any time of day.

      However, the author does have two other systems that can be used across all time frames and other markets and I would suggest that, if you are interested, you take a look at either the TrendFX or AnyTime systems to see if they would suit you. This is not intended to be a recommendation to buy as I have not seen the AnyTime system although I have looked at TrendFX. Based on what I have seen, I would suggest you try the AnyTime one.

      Nick, the Author, seems to be very reasonable and will look at your own charts and comment as appropriate if you are having problems. There is a money back trial period, so if it’s no good for you, you won’t have lost anything!

      Apologies for not replying sooner, but I try and spend some time away from the computer!

      Regards

      Keith

      Keith
      September 24, 2012 at 1:30 pm
      Reply

  5. Dear Keith,

    Thank you for this review, it has been most informative.

    I am thinking of purchasing this system (via your link) as I have been impressed with your results.

    I am slightly concerned about other reviews stating that it is very difficult to replicate the trades of the author, due to the subjectivity of interpreting divergence and candlestick reversal.

    Do you think this is a concern?

    Do you think it is possible to trade with similar results to the author?

    How long did it take you to start matching the author’s trades (e.g. the full 60 paper trades)?

    Kind Regards,

    SRL

    SRL
    October 2, 2012 at 3:58 pm
    Reply

    • Dear SRL

      Whilst I would agree that it is difficult to replicate the author’s trades, any trading system is unlikely to result in exactly the same trades between individuals. Having said that, I think I alluded to the interpretation I was placing on set ups and those of the author, but I don’t think it is a problem.

      Candlestick reversal patterns are well known and documented and if you read the material that is provided by Steve Nison and then spend some (a lot of!) time looking for these patterns on your charts, it will become second nature. Believe me, this will not be time wasted as it gives you more confidence.

      I also think that the issue of divergence is well documented and I would generally disagree with the statement that interpretation of divergence is subjective. It either exists or it doesn’t. The only area where I would say the issue of divergence is difficult is when there is a swing high/low on price, but the oscillator line doesn’t form a similar point. However, in those circumstances, I would simply take an equivalent point on the oscillator line and work from there. Similarly, there is clearly a view that divergence can still exist even when either price or the oscillator is flat with the other moving away. I would say that as long as you have a clear idea in your own mind of what constitutes divergence and stick to that view, then you will not be far wrong. There are only 4 conditions that can arise where divergence is concerned, so write them out and have them next to the computer to keep them in your mind.

      In my experience, which covers about the last 7 years, it is almost impossible to purchase a trading system and get the same results as the Author who, in this case, has been trading this system for the last 12 years. Always bear in mind that, by definition, the Author wrote the system and therefore knows exactly how to trade it whilst any other user is at the mercy of their own interpretation of how it should work. A case in point with this system is the spread. Nick doesn’t seem to take the spread – generally 4 pips – into account, which to my mind glosses over an important issue as you need the price to move 24 pips to acheive 20, but as long as you are aware of that, you can manage it. I would also say that I have found Nick to be quite approachable and he will answer your emails with any concerns.

      I still don’t match the Author’s trades, but I have found that there are occasions when I have taken legitimate trades and he didn’t and I would also be inclined, on occasion, to stay in trades for longer, but perhaps that’s greed creeping in!

      I think it is important with this system (as with any new system) to demo trade and look back over charts to spot the set ups and Nick does stress this point. I actually started mixing demo and live trades a while ago, so didn’t paper trade the full 60, but then I felt happy with the set ups. What I would say is that you don’t have to look for, or trade, every signal that arises. If you do purchase this and in use find that you are not certain, don’t take the trade. Remember that not trading is often considered to be a position in itself! If you have doubts about spotting the candle patterns and the divergence, then to begin with pick just 2 or 3 clear patterns and just look for those patterns. Once you are comfortable with those, look for the next etc.

      If you are able to commit to a bit of chart watching during the evening, I would have no problem recommending this system and as I have said, it is one that I will trade going forward.

      If I can help further, please do not hesitate to contact me.

      Regards

      Keith

      Keith
      October 2, 2012 at 4:54 pm
      Reply

  6. I trade TWADJ along with Nicks other 2 systems. I agree that initially the concept of trading in this manner can seem alien especially if you have traded with other methods in the past and perhaps still do.

    However, I match Nicks trades very easily I would say 95% of the time. I guess by now those on the FTS Forum along with Tomas etc also now match Nicks trades.

    Ignore other reviews SRL as many of those so called experts cannot seem to understand that 20 points consistently hit is better than an up and down cycle of win some lose some etc etc. It is consistency that matters.

    Certainly everyone makes mistakes when they first start this system but keep on persevering and all comes together in the end. Nicks other systems compliment TWADJ nicely and give you a very powerful trading system.

    You can also get additional support from the FTS forum where we are most nights trading the exact same system.

    Dave (cherkhan)
    October 3, 2012 at 4:25 pm
    Reply

    • I totally agree that consistency is important and you will never be out of pocket with a steady 20 pips.

      However, there will be differences in interpretation of the signals and last night is a good example. Nick went long on a hidden divergence signal and was stopped out. I went short on a ‘normal’ divergence signal and gained 35 pips. Both these signals arose at about the same time and it is simply a matter of interpreting what you are seeing, making your choice and going with it.

      The important thing is that you have followed the system rules, even if it does turn out to be a losing trade and there are days when both types of signal crop up together.

      Keith
      October 4, 2012 at 3:20 pm
      Reply

  7. Dear Keith,

    Thank you for taking the time to write such an honest, lengthy & comprehensive reply.

    Once I have had time to digest the strategy, I’m sure a lot of what you have explained will be very helpful.

    I am prepared to put in the time to understand this method & hopefully that will pay off.

    I will keep you updated with my progress.

    Thank you again for your help.

    SRL
    October 4, 2012 at 2:43 pm
    Reply

    • Keith

      The interpretation of the signal has recently been clarified by Nick to all his traders. So you will see such signals as SRL suggests but it is taken with due regard to the latest information. Nick would have seen the signal in the above detail from SRJ but would not have taken it for a defined reason, which I will not disclose on an open board.

      Go ahead and purchase TWADJ it is not something that you will regret.

      Dave (cherkhan)
      October 4, 2012 at 9:07 pm
      Reply

  8. Hi Cherkhan,

    Thank you for your input & encouragement. (I’ve read quite a few of your posts on other forums also, especially MMR).

    I have bought the system & am slowly making my way through the manual.

    If I am able to get to grips with this, hopefully I’ll see you in the FTS forum soon.

    Thanks again.

    SRL

    SRL
    October 12, 2012 at 9:50 pm
    Reply

  9. Hi Keith,

    Several months have passed. Are you still trading this?

    Jerry

    jerry
    June 1, 2013 at 1:40 pm
    Reply

    • Hi Jerry,

      Yes, I am still trading this, but I tend to use the other systems that this Author has available, primarily because I am available during the day and I find it easier to do my trading during daytime hours. However, I follow TWADJ when I can and I am still receiving the emails from the Author so can vouch for the system.

      Keith

      Keith
      June 2, 2013 at 7:17 pm
      Reply

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