Discussion on "Champion Trader" by Shiraz A Lakhi
Apprentice Trader
questions about the "Champion Trader" manual by Shiraz A Lakhi. As
someone who has purchased the manual, I would like to start a
discussion on people's experiences with Champion Trader (CT). I am
interested in hearing about whether others have managed to apply the
CT formula successfully or not. Hopefully this will help those of us
who have bought it and those who haven't yet but are considering it.
I would have to say that my personal experience with it has been
(very) negative. This not only relates to the system itself, but also
to other aspects of CT including the Members Only section. Sadly, it
appears that most of the efforts of the author are going into
marketing (such as in Shares magazine or on Google), rather than
providing the "regular Champion Trader bulletins/market comment".
Indeed, the Members Only section has not been updated for over 2
months - except for restructuring which appears to have the purpose of
disguising the fact that it is rarely updated. The authors comment
"Please note... I will be away from my desk for the next 3-4 weeks"
still remains after much more than 3-4 weeks.
The system itself has done very poorly when back-tested against the
FTSE 100 index, one of the four major indices that the author suggests
it works very well on. In addition, I find author's claim that
Champion Trader is a "proven method of identifying stock market
trading opportunities with absolute pinpoint precision entry & exit"
to be clearly false. This is because the manual does not specifically
state how to identify exit points - instead it hesitantly suggests a
few potential options and devotes a chapter to basic money management.
There is no doubt that some of the information is useful to
beginners, however it is not what I paid for.
A lot of people will of course not be surprised that such a system
proves to be unsuccessful. I have heard time and time again from
professional traders that you will not make money by buying a
"system". They say that the only people who get rich in that industry
are the people selling the system. Luckily for me, Champion Trader
came with a 90 day money back guarantee.
I hope that this is helpful to anyone who might be thinking of
purchasing Champion Trader. If you have similar or differing
experiences I would like to hear from you. If you are the author or
one of the "15-team" (15 'Active' Traders worldwide who supposedly
apply the CT formula with exceptional success) I would like to hear
from you (some specific and accurate examples of successful CT trades
over the past two months would do wonders to convince me that I was
wrong).
toedipper
Did you return it within the 90 days and get your money back? The guarantee
states that you muast give it a try and send back any 'notes' that you make
as proof.
His ads in the magazine show a nice glossy book but I was disappointed with
the quality of it when I received it. I suppose it's the information that we
are paying for but I was not pleased when I received a half a4 size small
ring bound book and the pages looked photocopied rather than printed.
I also felt abit hard done by when after paying 95.00 the last few pages of
the book contained an ad for his 'expert' formula which was at least another
ton.
Ruairi Glenn
"Apprentice Trader" <apprenti...@yahoo.co.uk> wrote in message
news:1902e06.02103...@posting.google.com...
Apprentice Trader
getting the refund now. I'm not completely sure whether I will be
successful or not.
Yes, I was disappointed with the book too, but like you say the
content is more important than the appearance.
One thing I would say is that there is no need for you to wait for the
end of each day to test the formula. If you're up to it, you can get
free end of day historical data on the FTSE 100 and other indices from
the Yahoo website. Go to uk.finance.yahoo.com and get a quote for
"^ftse", then click on "Historical Prices". You can download many
years data in CSV format and import it into Excel and create your own
charts.
Let us know how you get on after you've done some testing.
Harvey
difficult to see why a system, which provides a mechanical entry &
exit criteria might work for one person while it doesn't work for
another. I guess this comes down to the person who is using the
formula.
For me personally, I have purchased the book, and can state that it
does work extremely well. I have also been on the FTS course (£300+),
Vince Stanziones course (he is now charging £2,000+ for a days
workshop), and others. For value (at around £95) I have found the
Champion Trader extremely good value for money.
Below are my trades carried out recently using the formula (and CT
traders can check these on bigcharts.com, based on the latest CT
manual (published October 2002):
1) BAE SYSTEMS (BA.-LON): SHORT TRADE ON 11th Sept @ 249
CLOSED POSITION ON 19th Sept @ 175
(£3,700 profit on 5,000 block CFD less commission)
2) FKI (FKI-LON): SHORT TRADE ON 2nd October @ 80p
CLOSED POSITION ON 10th @ 69p (buying again today – appears cheap –
waiting for CT entry signal)
(£1,100 PROFIT ON 10k Block CFD less commission)
3) DELL (DELL): LONG ENTRY ON 11th October @ 25.87
CAME OUT AHEAD ON 25th October @ 29.00
($3,130 PROFIT ON 1,000 BLOCK CFD)
4) AMAZON (AMZN): LONG POSITION ENTERED ON 17th Oct @ 19.66
MADE A SMALL LOSS ON THIS ONE – STOPPED OUT @ 19.20 ON 18th
(Amazon subsequently rose to well beyond the entry, but I stayed out –
plenty more fish in the sea!)
5) S&P (e-mini) (ES Z2): SHORT 18/9 @ 871.75
CLOSED 23/9 @ 830.00
(An extremely good trade – usually I don't hold for more than 2 days –
this one produced a profit of $2087.50 on a single e-mini contract)
I have read articles and threads elsewhere where people are trying to
trade hi-techs, small-caps, and obscure companies using the method. I
have done this and can say that the formula does not work on these
high-techs – but this is made clear by the author from the start. It
will only work on high volume, dynamic, blue-chip companies like the
ones above, and or the leading indexes.
As for the members page, I have emailed Shiraz a few times – credited
he has given me a response every time (at least he replies), but I can
partly sympathise with his time-limits etc on projects (which he has
brought on to himself I guess) and juggling between trading, updating
books, and a family life. To his credit, he has brought out a
brand-new Champion Trader manual which now provides an earlier entry –
you don't have to wait for a third bar to confirm a pivot, but usage
of a new candlestick formation coupled with the existing entry points
has improved the system dramatically and significantly. I would
recommend current users to email shiraz for an updated copy (he
provides this free – I don't know why he does this for free (could it
be that he is a genuinely sound guy?) again I know from experience
most companies would be quick to charge for updates!).
The new book also allows for a continuous development of the core
method, allowing traders to learn and ‘improve' the system through
communication with the author, or for their independent use. This is
keenly encouraged in the new manual with hugh amounts of fresh
information on websites such as bigcharts.com where you can try many
additional tools to ultimately build your own system based on the core
CT formula. I have added MACD and a simple oscillator to my trading
and this adds a wonderful synergy to my timing of trades.
So, effectively, Champion Trader is not a static method which the
author agrees would not work forever, but a ‘dynamic' system which he
updates (and provides free) and allows CT traders to develop easily.
You are literally learning for life (which for me is a great thing, as
it cancels the argument that a ‘static' system doesn't work forever).
For such an intense advent into trading – training people up from the
basics – absolute beginners – to ultimately being confident enough to
adapt and improve the core formula – deserves credit to Champion
Trader and www.tradingtrix.com. I know that if I was to develop such a
level of education I would probably charge around £2,000, and so would
others. And yet, the Champion Trader remains at £95.00 (and includes a
guarantee – although you do need to provide your trading notes if
asking for a refund – which in all fairness – filters out the
‘wannabes' and the types who put the book on the shelf for a rainy
day!)
The members area – when I last checked, is planned for a [promised]
update by 10th November. To be honest, I don't think the members area
is critical to successful trading – the FAQ's are helpful. The book
itself contains all the information I need.
Harvey
Harvey
toedipper
Shiraz!
Ruairi
"Harvey" <harveyaw...@hotmail.com> wrote in message
news:9087b1d6.02110...@posting.google.com...
> I think the price for Champion Trader offers excellent value. It is
> difficult to see why a system, which provides a mechanical entry &
> exit criteria might work for one person while it doesn't work for
> another. I guess this comes down to the person who is using the
> formula.
> For me personally, I have purchased the book, and can state that it
> does work extremely well. I have also been on the FTS course (£300+),
> Vince Stanziones course (he is now charging £2,000+ for a days
> workshop), and others. For value (at around £95) I have found the
> Champion Trader extremely good value for money.
> Below are my trades carried out recently using the formula (and CT
> traders can check these on bigcharts.com, based on the latest CT
> manual (published October 2002):
>
> 1) BAE SYSTEMS (BA.-LON): SHORT TRADE ON 11th Sept @ 249
> CLOSED POSITION ON 19th Sept @ 175
> (£3,700 profit on 5,000 block CFD less commission)
>
> 2) FKI (FKI-LON): SHORT TRADE ON 2nd October @ 80p
> CLOSED POSITION ON 10th @ 69p (buying again today - appears cheap -
> waiting for CT entry signal)
> (£1,100 PROFIT ON 10k Block CFD less commission)
>
> 3) DELL (DELL): LONG ENTRY ON 11th October @ 25.87
> CAME OUT AHEAD ON 25th October @ 29.00
> ($3,130 PROFIT ON 1,000 BLOCK CFD)
>
> 4) AMAZON (AMZN): LONG POSITION ENTERED ON 17th Oct @ 19.66
> MADE A SMALL LOSS ON THIS ONE - STOPPED OUT @ 19.20 ON 18th
> (Amazon subsequently rose to well beyond the entry, but I stayed out -
> plenty more fish in the sea!)
>
> 5) S&P (e-mini) (ES Z2): SHORT 18/9 @ 871.75
> CLOSED 23/9 @ 830.00
> (An extremely good trade - usually I don't hold for more than 2 days -
> this one produced a profit of $2087.50 on a single e-mini contract)
>
> I have read articles and threads elsewhere where people are trying to
> trade hi-techs, small-caps, and obscure companies using the method. I
> have done this and can say that the formula does not work on these
> high-techs - but this is made clear by the author from the start. It
> will only work on high volume, dynamic, blue-chip companies like the
> ones above, and or the leading indexes.
> As for the members page, I have emailed Shiraz a few times - credited
> he has given me a response every time (at least he replies), but I can
> partly sympathise with his time-limits etc on projects (which he has
> brought on to himself I guess) and juggling between trading, updating
> books, and a family life. To his credit, he has brought out a
> brand-new Champion Trader manual which now provides an earlier entry -
> you don't have to wait for a third bar to confirm a pivot, but usage
> of a new candlestick formation coupled with the existing entry points
> has improved the system dramatically and significantly. I would
> recommend current users to email shiraz for an updated copy (he
> provides this free - I don't know why he does this for free (could it
> be that he is a genuinely sound guy?) again I know from experience
> most companies would be quick to charge for updates!).
> The new book also allows for a continuous development of the core
> method, allowing traders to learn and 'improve' the system through
> communication with the author, or for their independent use. This is
> keenly encouraged in the new manual with hugh amounts of fresh
> information on websites such as bigcharts.com where you can try many
> additional tools to ultimately build your own system based on the core
> CT formula. I have added MACD and a simple oscillator to my trading
> and this adds a wonderful synergy to my timing of trades.
> So, effectively, Champion Trader is not a static method which the
> author agrees would not work forever, but a 'dynamic' system which he
> updates (and provides free) and allows CT traders to develop easily.
> You are literally learning for life (which for me is a great thing, as
> it cancels the argument that a 'static' system doesn't work forever).
> For such an intense advent into trading - training people up from the
> basics - absolute beginners - to ultimately being confident enough to
> adapt and improve the core formula - deserves credit to Champion
> Trader and www.tradingtrix.com. I know that if I was to develop such a
> level of education I would probably charge around £2,000, and so would
> others. And yet, the Champion Trader remains at £95.00 (and includes a
> guarantee - although you do need to provide your trading notes if
> asking for a refund - which in all fairness - filters out the
> 'wannabes' and the types who put the book on the shelf for a rainy
> day!)
> The members area - when I last checked, is planned for a [promised]
> update by 10th November. To be honest, I don't think the members area
> is critical to successful trading - the FAQ's are helpful. The book
Vassago
V.
Apprentice Trader
Trader. It's also strange that you posted exactly the same message
twice on this thread (perhaps a mistake?) and once on another.
I would say that any system is likely to come up with a few winners if
you have two or three markets worth of equities to chose from. It is
likely that for each winning trade you managed to identify using the
Champion Trader formula that there have been many more losing ones.
Would you mind sharing with us how you pinpointed exactly which stocks
to trade in? Are you using a combination of other technical
indicators?
Also, I have been unable to find an Shiraz's contact e-mail address on
the website. Can you let me know what it is so I can contact him
directly? Thanks!
denis...@live.co.uk
Pierre www.zetrader.info
> I have been using CT for some time and following the manual have managed to trade more effectively and I DO make a consistent year on year profit. READ AND FOLLOW. TEST IN REAL TIME NOT BACK TESTING.
>
--
http://zetrader.info & http://zetrader.fr
http://pierre.aribaut.com - http://zeforums.com
Pierre www.zetrader.info
> Le 05/11/2017 à 01:00, denis...@live.co.uk a écrit :
>> I have been using CT for some time and following the manual have
>> managed to trade more effectively and I DO make a consistent year on
>> year profit. READ AND FOLLOW. TEST IN REAL TIME NOT BACK TESTING.
>>
>
> Who's Shiraz ? Never heard about him.
Pierre www.zetrader.info
> Le 24/11/2017 à 10:06, Pierre www.zetrader.info a écrit :
>> Le 05/11/2017 à 01:00, denis...@live.co.uk a écrit :
>>> I have been using CT for some time and following the manual have
>>> managed to trade more effectively and I DO make a consistent year on
>>> year profit. READ AND FOLLOW. TEST IN REAL TIME NOT BACK TESTING.
>>>
>>
>> Who's Shiraz ? Never heard about him.
>
> What is CT ?