Trading The Markets For Maximum Profit Review – Damon Elliott

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  • #1186
    ReviewTeam
    ReviewTeam
    Keymaster

    Trading The Markets For Maximum Profit Review – Damon Elliott

    Click below to visit the website

    Key Info

    Publisher:  Clickbank
    Cost:  $67 with a 60 day money back guarantee
    Review Date:  May 2012

    What It Says On The Website

    Trading The Markets For Maximum Profit (also known as Trading FX For Profits) is the most up to date offering from Damon Elliott of Piptastic fame. The product is advertised as being suitable for all levels and consists of 3 core methods which can be traded on any market and any timeframe. We also reviewed Piptastic, Damon’s previous product, here is a link to the most recent review in 2011.

    The course, which consists of a 96 page manual and over 8 hours of video/audio “has been designed to make everything easy to follow and understand”.

    That’s about it for the website, its short and punchy with no nonsense, a welcome relief these days.

    The Material

    Once logged into the members area there’s a 96 page manual to accompany the video and audio content. The 10 minute introduction video does a great job in defining navigation and how best to follow the course.

    This may sound quite daunting (over 8 hours of video/audio material) but in actual fact it’s a pleasant enough experience. Subjects covered are as follows:

    · Spread-betting (about an hour) – Introduction, Charts and Platform (ETX) overview – Great for those completely new to trading (spread-betting) but little new in here for experienced traders, as one would expect.
    · Charts – A quick 10 minute video on how to set up your charts in relation to the methods which follow. Simple stuff, mainly how to add Exponential Moving averages, Trend lines and Pivots.
    · Methods – (just over an hour) – The main focus here is on defining and understanding Support & Resistance (S&R) as the 3 core methods use and refer to S&R in some form or another.
    · Piptastic Method – By far the longest session, around 3 and a half hours of video content. Pivots are included in the mix for the first time and although 3 and a half hours may seem scary it’s quite well done and interesting enough that we didn’t skip any of it. The content is largely based on recordings of Damon trading all of the methods over a 2 day period, mainly on EURUSD, GBPUSD and the FTSE.
    · Money Management – A 20 minute video on Money management, plain, simple, sound guidelines basically.
    · Trading Psychology – About 1 hour of audio material on psychology, a subject which although not easy to cover is done reasonably well.

    There are also bonus videos, 3 of them, which again relate to the core methods. The total length is about 1 and a half hours with the final one, in which Damon focuses on “Moving Average For Profit”, being of most interest.

    The System

    This is not so much a system, as Damon clearly states, it is a collection of methods. The methods are basically constructed around:

    · Moving averages
    · Support & Resistance
    · Pivots

    Each method is well explained as to how and where to enter the market plus suggesting appropriate Stop and Target levels. The methods can be traded individually “as is”, tailored by the individual or grouped together for a more conservative and perhaps more robust approach. Damon seems to favour the 5 minute time-frame.

    Can It Work

    We believe that it would be difficult and perhaps unfair to isolate either of the methods. Damon rightly points out that they are methods which have been proven to work and are to be used, combined, tailored, by each individual whose style, instrument range, timeframe, attitude to risk, etc. will undoubtedly differ from the next person.

    Piptastic used to be quite fragmented and finally Damon seems to have realised this and consolidated the material into a structured product. Although the course is over 8 hours in length, it is not hard going and should even be of interest and use to those already trading successfully.

    This is probably the best Trading course we have seen in over 3 years of running the Systems For Traders website. For those new to trading, other than completing the Baby PIPs school, this is probably the best starting point out there. Damon tells us that over 80 traders have gone full time since coming into contact with him – We believe him.

    Note: Damon also runs a Live room 3 or 4 times a week where he trades the methods from the course for a couple of hours each session – Cost £32.95 a month or £149.99 for 6 months.

    Support

    Usually within 24 hours and very helpful.

    Summary

    PRO’s
    • A sound product.
    • Probably, as well as the Baby PIPs school, a must for beginners.

    CON’s
    • Some may suggest it’s a little long (8 hours+) but we believe it’s justified.

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

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    #1190
    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

    bslcrsr

    11-Jun-2012

    Many thanks for your review of this trading system which, as usual, is relevant and cuts to the chase post haste. But before ordering TTMFMP I’d be glad to know if the Team believes that Damon’s latest offering can be effectively used on Daily Charts.

    ReviewTeam

    12-Jun-2012

    Thanks for the feedback, appreciated.

    Although we haven’t looked into it in any detail the literature does state any instrument and time-frame – In reality though the majority of the tuition and examples are based on 5 minute charts, typically EURUSD, GBPUSD and FTSE – This lower timeframe trading seems to be the focus.

    Hope that helps – Perhaps maybe worth dropping Damon an email as he may well have a group which do trade longer timeframes.

    zorba_g

    09-Jul-2012

    Looks good RT. I was always a bit thrown by the cheapness of Damon’s prices (not products!). I would love to know the results from someone who does trade in his live room though – does anyone have some figures for me?

    2012trader

    27-Dec-2012

    Hi, Zorba

    I have been a customer of Damons’. The main style is day trading which does not necessarily translate to higher time frames and also does not suit new traders. The live rooms are okay, and records are published in a newsletter, unfortunately do not seem to match mine or others results and with no fxbook attached, very difficult to verify.

    The live trading room sessions have now been scaled back along with the swing trading. The main issue I have with the ‘methods’ is the need to have a very high win as the r/r is 2:1 or more in most instances.

    Damon is a friendly and helpful chap and approachable and means well. However, that is not enough if your are a new person learning to trade.

    markbritton

    31-Dec-2012

    I have been a member of Systems for Traders since its inception a while ago but only pop in now and then….however, I have just noticed that Damon’s methods have been reviewed.

    If I could add my two penneth into the mix!

    Yes, I have also been with Damon for about 3 years and can say that his methods (but more particularly his psychological stuff) is excellent. I firmly believe his latest revised Pivot Trading method is the best there is out there. Yes, Damon uses the 5 min TF but I actually use his methods on the 4 hour as well as a couple of other methods on the daily TF.

    At the end of the day, Damon offers the basic methods but it is up to each trader to take a method and make it their own. I personally make money every month from a couple of methods that originated with Damon’s. I am on course to generate an income that will sustain me to trade full time. Whether I choose to trade full time, however, is a personal choice to be made in the future!

    I thoroughly recommend Damon’s products and they are value for money. The backup he offers is second to none and his methods are simple yet effective. There is so much cynicism in our trade because of system pushers and sales men and its a refreshing change to find someone like Damon who is a genuine guy.

    Hope my comments help in some way?

    Cheers,

    Mark B


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