anyone tried john needham's thedanielcode | Trading Reviews and Vendors


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anyone tried john needham's thedanielcode

  #3 (permalink)

vienna, virginia, usa
 
Trading Experience: Advanced
Platform: TradeNavigator, Multicharts
Broker/Data: Optimus, TOS, IB
Favorite Futures: Gold, DX, Forex, Futures
 
Posts: 13 since Oct 2010
Thanks: 13 given, 12 received

DanielCode System Works


I traded the DC system faithfully for over 18 weeks this year, primarily in the Forex market. With conservative position sizing (never exceeding 2% for correlated pairs), I made over 20% returns with my average drawdowns being 1-2%. This was the best results I have ever traded in Forex in four years.

It is a countertrending system with very high win rates. it trades a diverse basket of currencies. One needs to use stop and reverse techniques and actively manage your stops once in the trade. I was able to get into a good rythm with the system since he publishes the signals in the evening. I was able to achieve better results than DC system because of my money management rules that I developed. Taking 1/3 position profits at certain levels. This was a derivation of what he taught.

I stopped trading the system because I was too dependent on his signals. At times the signals worked almost magically. When he was traveling, the quality and number of trades weren't there. For the monthly subscription , DC is a very good value. For $5,000 he'll teach you his method. That's a steep price to pay. Overall, it is an effective system and I would recommend it highly.


Last edited by veigaman; November 10th, 2010 at 10:00 PM. Reason: improved wording
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