Mark Austin FTSE Service Review

HomeForumsReviewsNon-Forex Signal Service ReviewsMark Austin FTSE Service Review

This topic contains 1 reply, has 1 voice, and was last updated by ReviewTeam ReviewTeam 4 years, 3 months ago.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #364
    ReviewTeam
    ReviewTeam
    Keymaster

    Mark Austin FTSE Service Review

    Click below to visit the website

    Key Info

    Publisher:  None specified
    Cost:  £57 per month – 1st month £28.50
    Review Date:  January – February 2011

    What It Says On The Website

    This service is dedicated to just the FTSE and the website promises “Regular Market analysis”, “SMS Trade alerts”, “Regular trade set-ups / Opportunities!” and “Follow up emails for all SMS Trade alerts”.

    Mark has been “successfully trading the FTSE for over 8 years” building up “a wealth of knowledge on how to trade this market successfully”. The “objective of the service is to provide a unique insight into how a professional trader goes about his business” including “all degrees of risk management, market analysis and money management” and “techniques to provide you with an edge on the market”.

    The service aims for 2-3 high probability FTSE trade per week and comes recommended by John Piper. It is based on Mark issuing a signal by SMS and email “every time I open or close a trade” with “Entry/Exit/Risk all professionally managed for you”.

    The website contains a link to some testimonials, John Pipers Binary Trading book, Mark’s blog and seminars.

    The seminars, at a cost of £595 – £895, are based “on the lifestyle trader concept”, this means the techniques and systems that Mark uses every day to enable him “to create consistent income whilst not being glued to the screens all day”. The focus is “on leading indicators” and how to use “these effectively to extract consistent money from the market”. Money management and Risk strategies are also covered in the one day seminar.

    The last link on the website is to a POM Seminar hosted by John Piper and Mark, the cost of which is £2,475 (in 3 monthly instalments of £825) for the POM system, seminar and consultancy.

    Neither Mark’s seminar or the POM seminar are covered in this review.

    The Service

    We had access to this service in the latter part of 2010 and traded a few signals but didn’t quite commit to regularly trading and monitoring it until 2011. We are quite glad we were delayed because the service has changed slightly this year. Mark made the move, at the beginning of the year, to provide subscribers with 3 free Trading strategies; Tunnel, Magnet and 5 Minute Break-out. This move has added value to this service.

    A FTSE morning report usually arrives around 7:45 UK time. This includes Marks market commentary identifying areas of Support and Resistance, potential price action largely based on Elliot wave theory and trading ideas. The latter usually reference one or more of the 3 free strategies. Sometimes an actual signal is included otherwise they are merely trading ideas.

    Actual signals, if not included in the morning report are usually received between 7:45 and 9:00. They are clear and easily translated into trades. What is annoying though are the Binary (Tunnel/FTSE Finish) trades, it’s typical that we do not get the price quoted in the signal. This means waiting sometimes (can be hours) to get the quoted price. Last year we recall part profits being taken and we were still waiting to get filled on the entry. This didn’t happen all the time but, often enough for us to point it out. It is worth identifying this for two reasons, sometimes we were hanging around for ages trying to get the right price, never to get in at all. Sometimes we got the price but hours later, typically because of this lateness the trade would lose. So, we never missed a loser but we did miss winners. Mark has attempted to address this issue by distriuting his strategies and including trading ideas based on them in his morning report. This may help those that are more active but for those relying on a non-discretionary signal service we fear the issue will remain.

    The other signals, (non Binary) FTSE trades, were much better, most of the time we managed similar fills to those identified in the signals. Exit signals and some take half profit signals can come at any time after the initial entry signal but are typically before mid-day. It pays to make sure you have easy access to your (IG Index) account most of the day, not so difficult with IG’s mobile trading app.

    We could have taken other trades based on the trading ideas in the morning report and the free strategies and we probably would have done reasonably well. Our purpose here however is to review the core signal service so we stuck to it.

    Can It Work

    In 2011 to date (11-Feb) we have had the following results trading Marks’ signals only:

    January

    10-Jan-11 7:41 MAGNET Long 0.64%
    12-Jan-11 8:28 MAGNET Short 0.32%
    24-Jan-11 7:50 MAGNET Short 0.48%
    24-Jan-11 8:23 TUNNEL 60/60 0.73%
    25-Jan-11 9:10 NORMAL Short 0.19%
    25-Jan-11 11:05 TUNNEL 75/75 -2.00%

    That’s a net profit of +0.35% based on 2% risk per trade unless instructed otherwise.

    February (to 11th)

    2-Feb-11 8:21 NORMAL Short 0.32%
    3-Feb-11 8:46 FTSE FINISH UP -2.00%
    11-Feb-11 8:38 NORMAL Long -1.00%

    That’s a net loss of -2.68% based on 2% risk per trade unless instructed otherwise.

    It is fair to say that Mark is offering a little more than a signal service. It’s more of an education/learning tool, in particular for those looking to actively trade the FTSE. With the inclusion of the trading ideas in the morning updates the signals could be seen as a back-up/validation source to applying the free strategies oneself. As a stand-alone non-discretionary signal service though, results need to improve from here.

    We will report back with complete results at the end of February and again at the end of March.

    Support

    Within 24 hours and often much quicker.

    Summary

    PRO’s
    • Useful free strategies and morning reports.
    • A potential learning tool in effect for those looking to actively trade the FTSE.

    CON’s
    • Getting entries (Tunnel trades in particular) as per signals can be frustrating.
    • Need to have access (to IG Index) most of the day to re-act to updates.
    • Quite a poor start to 2011.

    Do remember, your comments are important – If you have used or decide to use this service, please contribute to the community by reporting back your findings.

    Attachments:
    You must be logged in to view attached files.


    Members can post and subscribe to threads like this one

    And also receive an email every time we post a new review

    Click HERE to register for FREE

    #532
    ReviewTeam
    ReviewTeam
    Keymaster

    Systems For Traders had to be rebuilt in 2013

    This is a selection of key posts and comments from the original forum prior to the rebuild

    ReviewTeam

    15-Feb-2011

    Today we had a binary trade which we can use as an example of the issue identified in the review. It means our fears that the issue remains are valid.

    A signal was issued today – Sell a binary bet at 88 – We got in straight away and only got 80 as the price had dropped off significantly (as we observed on the 1 minute chart). It was over an hour before we saw the 88 price again. If we did not take the trade at 80, we may have missed a winning trade (if it doesn’t retrace). If it does retrace then it is likely the trade will lose as the initial momentum causing the move subsides, as occurred today. So, it’s best to get in at 80, in our opinion.

    However, here’s the main reason why this makes such a difference.

    At 88 let’s say you risk 2% (£100) on the trade, that’s about £8 a point – If you win you make a profit of £700. At 80 you risk £5 a point and if you win you only make a profit of £400. Still not bad however the 88 trade makes a 14% return negating 7 losing trades at 2% risk per trade whereas the entry at 80 returns just 8% negating just 4 losing trades. This is significant applying this kind of strategy.

    Note: This is the first time this has happened this year and Mark did provide a “heads up” in his morning commentary. As per the review, those more vigilant in applying the free strategies may have fared quite well. Those following the signals verbatim would have experienced the above scenario. We just wanted to point out a real example of the issue should we see it again this year so we could try and explain it better.

    We do believe Mark has done his best to work round this issue which we have been in contact with him about (giving away the strategy and mentioning the potential in the morning report) – It’s just difficult to see how much else can be done to remove it completely for those following the signals only.

    Our results remain the same as the official results based on this approach as we risked and lost 2% of our account on this trade.

    ReviewTeam

    02-Mar-2011

    Full results for February are as follows:

    1-Feb-11 NORMAL Short 0.16%

    3-Feb-11 FTSE FINISH UP -1.00%

    11-Feb-11 NORMAL Long -1.00%

    15-Feb-11 TUNNEL 60/60 -2.00%

    17-Feb-11 NORMAL Short 0.48%

    22-Feb-11 NORMAL Short 0.60%

    24-Feb-11 FTSE 12 PM UP 0.00%

    That’s a net loss of -2.75% based on trading all signals issued by email and 2% risk per trade unless instructed otherwise.

    ReviewTeam

    15-Mar-2011

    So far in March we have had just two trades, both Binary and both on the 9th March – The narrative will probably only be useful to those “into” Binary trading:

    Trade 1 – Mark bought a One Touch trade for 28 and took full profits at 44. This equates to a +16 point profit or +0.57% (it was a half risk trade). We took the same trade but got in at 36 and got out at 35 for a 1 point loss, -0.03%.

    Trade 2 – Mark sold a Tunnel trade for 88, took half at 74 and the other half stopped out. This equates to a +2 point profit or -0.17% (it was again a half risk trade). We took the same trade and managed to get in at 87, got half profits at 80 and the other half stopped out, equating to a -0.46% loss for us.

    We react immediately to these alerts and follow them blindly, for review purposes. The differences may look insignificant +0.57% vs -0.03% and +0.17% vs -0.46%. However, where these “poor” prices of ours hurt the most is when a trade wins, we will explain by looking at the first example:

    – A Buy entry of 28 means a reward of 72, that’s a potential return of 157%

    – A Buy entry of 36 means a reward of 64, that’s a potential return of 78%

    – We would make less than half of the profit Mark would make – This is on the assumption the trade wins and expires for full profit.

    We would not mind if occasionally we got better prices but it is very rare. Again we feel this is still an area that requires attention in relation to this Signal service, especially for those wishing to blindly follow Mark and his calls.

    Note: The “normal” Long/Short trades rarely have this kind of issue, this month so far there have been none of these to report.

    ReviewTeam

    03-Apr-2011

    Results for March are as follows:

    9-Mar-11 ONE TOUCH 5910 -0.03%

    9-Mar-11 TUNNEL 65/65 -0.46%

    11-Mar-11 FTSE FINISH UP 1.00%

    15-Mar-11 ONE TOUCH 5910 1.67%

    21-Mar-11 FTSE FINISH UP -1.00%

    29-Mar-11 NORMAL Short 0.50%

    That’s a net profit of +1.68% based on trading all signals issued by email and 2% risk per trade unless instructed otherwise.

    This means that just by trading the official signals we are yet to move into profit in 2011 with this service, however we will once again point out that those looking to take a more pro-active approach to trading the FTSE will more than likely do better. This is because Mark includes “Trading opportunities” in his Daily morning outlook which relate to the many strategies he provides to customers. The most recent being the Triple Witching System. Additionally he has also started providing trade management information by Email and SMS for “Trading opportunities” which trigger.

    So, not great performance wise, Year To Date, but nonetheless, a service which could be of interest to those looking to be more pro-active.

    ReviewTeam

    02-May-2011

    Results for the month of April are as follows:

    6-Apr-11 NORMAL Short 0.00%

    7-Apr-11 TUNNEL 65/65 -1.00%

    12-Apr-11 ONE TOUCH 5850 -1.00%

    27-Apr-11 NORMAL Short -2.00%

    That’s a net loss of -4.00% based on trading all signals issued by email and 2% risk per trade unless instructed otherwise. This means that just by trading the official signals since the beginning of 2011 we are still in negative territory – We have now decided to cease coverage of this service.

    As we have stated previously those looking to take a more pro-active approach to trading the FTSE should fare better than this. This is because Mark includes “Trading opportunities” in his Daily morning outlook which relate to the many strategies he provides to customers.

    Annicx

    01-Dec-2011

    Thought I’d update my progress with this profitable service for anyone interested in it.

    Mark continues to concentrate on early morning ‘gap’ trades with excellent results, especially bearing in mind recent volatility. There is now sometimes an earlier report at around 7.10 giving possible earlier trade entries for those wishing to do this. It frequently pays off and I have found it to be well worth the extra risk taken with the wider spreads quoted pre 8am.

    The opening, (8am), trades continue to be low risk set ups with a high strike rate and the trades are often done and dusted well before 8.30 or at least ‘risk-free’. Recently I was on holiday for a week and took my laptop so I could trade when possible. Four out of five days I was finished before 8.15, (before anyone else was even up), one day I had to wait ’till 8.40 to close the trade, but all done in good time to enjoy the day- every day produced profits of 15-20 pips, although this was my personal choice to close at these levels. Nice, profitable, stress-free trading.

    Along with the educational side of the service I honestly cannot see why anyone would not wish to use this service- the only drawback for some being the 8ish trading window of course.

    ReviewTeam

    04-Dec-2011

    Annicx – That update is much appreciated – Thank you.


    Members can post and subscribe to threads like this one

    And also receive an email every time we post a new review

    Click HERE to register for FREE

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.