AutoFX - Mick

[autofx]

MickMason is convinced that through his superior money
management, he can go short when Automatic Forex
systems go long, and vice versa...and make money.

He will hold each short for the full period each autofx long is
held, and he will hold each long for the full period each autofx
short is held.

Each of his gains will be limited to 65 pips, and losses can
be as high as 550 pips.

Mick's systems will take losses whenever Automatic forex
profitlock or take-profit trailing stops are hit, but will take
gains whenever initial or loss-mitigating stops are hit.

In other words, every action taken by Automatic Forex
systems will be applied in reverse, to show the full value
of Mick's Anti-AutoFX systems.

The performance of Mick's Anti-AutoFX trading systems
will be tracked here.

We'll even spot Mick the pips that Automatic Forex systems
are currently behind, per buff's tracking on the AutoFX - Buff
thread.

So Mick, you start out ahead as follows:

Anti-AutoFX System 1: +143
Anti-AutoFX System 2: +35

Currently, Mick's systems have these positions open

System 1
10/19/2004, 06:00: SHORT GBPUSD near 1.8007, STOP: 1.8557, LIMIT: 1.7942

System 2
10/19/2004, 06:00: SHORT GBPUSD near 1.8004, STOP: 1.8554, LIMIT: 1.7939

The current positions are behind some 150 pips at this writing,
but I'm sure Mick can make up ground quickly, since Automatic
Forex's losses are Mick's gains. He said so.

[akshay]

Oh boy here we go again with the loons...

A

[autofx]

akshay

No one asked for your commentary on this thread, but
since you gave it...

What is your trading system, please?

Care to comment on which pair of systems you'd side
with, and why?

[akshay]

>What is your trading system, please?

Made a lot of profit in the past on a system that has started to deteriorate for a prolonged period of time, so I've stopped trading the system and keeping most of those profits instead of letting it all go down the drain.

I'm in transition currently and trading smaller but quite profitably, mostly based on fundamentals, o/b o/s conditions, COT positioning, readings at fxstreet.com, Iris and Currencia's thread, etc etc. You know, a ton of stuff. You gotta be smart to file what you read as "smart money talking" and do it, and "dumb money talking" and go opposite. The damn banks are notorious for being dumb money, I think they're making your profits by saying something then the twats do the opposite. Every day some idiot bank rep comes on Bloomberg and says end of year expect Euro at 1.30. So I feel it should be 1.15, because they want you to buy so their rich asses can sell and make your cash.

Everything you read is great as long as you know how to figure out whether it's smart or dumb money talking.

>Care to comment on which pair of systems you'd side with, and why?

Currently, I think Mick may end up taking profits as the Euro and Gbp are too strong and way o/b. There is bound to be a correction. The COT (commitment of traders) the "smart money" are extremely long the USD, and it seems the majority are claiming Euro goes north from 1.26 to 1.30, and majority usually means dumb money. So I feel USD should start gaining.

I've been short at 1.26 with orders to short 2650 and 27 if it reaches those levels. Everyone and their wife is buying expecting the Eur to reach 1.30 then 1.50 everyone expects it to start flying without wings, so it's time to sell. It's a known fact that 99% of traders lose money, and it seems most traders (dumb money) are going long based on my readings, expecting miracles to happen and new highs to be achieved, so it's time to short.

Just my opinion.

Akshay

[buff]

Mick,

I just had to jump in here as I can't see any point to this thread at all.

All it seems to be is a personal attack against another member and the service he offers. It proves nothing other than you have obviously got something against AutoFx and that you are going well out of your way to discredit him.

I really enjoy my time on MoneyTec but posts like this, I believe have no place here.

When AutoFX first came onto MoneyTec, he was probably over the top in advertising his service and basically told to pull his head in by the moderators and others. AutoFX himself has admitted that he was guilty of this and has since curbed his ways and maintained a much lower profile.

I agree that people or their methods are open to constructive criticism, and if they are found out to be a downright scam, then yes, give it to them with both barrels.

You seem to make a point of the results to date from my thread. Sure these don't look that flash now, and as I have stated a couple of times, I had to start somewhere and it just happened to be on a couple of biggish losses. These two trades were already in play when I started the thread and I probably shouldn't have included them, but I did. You have to remember that I am not allowed to post previous results but I did give a rough idea of what had happened since the begining of September on both systems.

Just for the record, if I closed both open trades right now at 2035hrs 20.10.04, each would be in profit of about 180pts.

Mick, I'm not sure of your trading skills or credentials and I certainly don't want to get into a slanging match with you, but these type of posts are a waste of time. Why don't you just give AutoFX and his system some time and I will be posting the results, and if it is crap, it will be soon found out. I don't think a month for a long term method is hardly enough time to properley evalute it.

Honestly I would like to see one of the Moderators jump in here and remove this thread period.

Have a good day.

[buff]

I just realised by reading my above post, that I seem to be just having a go at Mick but I would also like to point out that I am not that happy with AutoFX's involvement in this ongoing slanging match.

Guys, I don't know why you don't both agree to disagree and that you are not going to be on each others Christmas card list this year, and leave it at that.

Let me post the results, give it a few months, and I'm sure one of you will be sitting there pretty pleased with yourself, whilst the other may have a little egg ontheir face.

Enough boys. Let's move on.

Cheers

[autofx]

Buff, you're no fun.

Slanging is fun.

The record will speak for itself.

[MickMason]

Originally posted by buff


Mick,

I just had to jump in here as I can't see any point to this thread at all.

Me neither, but then I'm not the one who started the thread, it was Autofx being antagonistic and childish. I don't understand where he gets his opening comments from, maybe he dreamt them up because they bear no relation to anything I've ever said, very odd behavior if you ask me.

There is absolutely nothing in any of his posts that is helpful to anyone, he doesn't seem to understand the very basics of this business even though he claims to be a 'seasoned trader', and he's trying to sell a losing system to gullible novices, that's the only reason he's here as far as I can see.

It needs to be made absolutely clear that his system can have significant drawdown and may not show profit for several months, if at all. It appears not to have the two most basic requisites of any trading system, money management and risk/reward. The system is totally unsuitable for any novice trader with limited equity, and would be of little interest to experienced traders as they will see it for what it is. Anyone can take a position and allow it to accrue massive losses until it turns to untargeted profit provided they have sufficient funds, but how many of us have that sort of cash?

I'm an intraday player, I don't hold on to losing positions for indefinate periods until they turn profitable just so as I can say my system works.

I'll leave it there, this thread is of no benefit to anyone....

Mick