Steinitz HAS MTF **Theory & EA**

[nicesurf]

It seems that everybody is very sensitive now, is that because of loosing pips in trading ? Let's make pips.....he..h.eeee

[Frank Ludvik]

Originally Posted by steinitz

This was to be my last post but since I already put some time into this rebuttal on another forum I decided to paste this here.

I want to go on record to defend my self against ZupCON who has his own agenda to try to make my life as miserable as possible. He got his feelings hurt when I asked to have his attacking, flooding posts removed. I make it very clear that I have no issues with any positive or negative postings as long as their constructive and not attacking with ulterior motives.

My program/method/EA will not loose as long as the trader follows instructions. It's been shown on many backtests that it does not loose. It will often times hold a position for an extended length of time but will eventually close out in profit. And no you can't throw a dart at the market and replicate the same results.

I explain this to anyone who does not use a conventional stop loss how this works and what to expect in the long run.

In terms of a trader blowing an account. If the trader has too much risk and/or too much leverage you can blow an account before you gave yourself the opportunity to hold the positions until profit. We did not know at the time before the market crash/correction that all currencies at the same time would be in draw down. We advocated a 20% total risk but we have since made changes that have a positive impact on lessening the probability a perfect storm in the markets would cause a margin call in the future.

1. We have adopted a 10% total risk allocated across 8 to 12 currencies (being careful with GBP/USD & GBP/JPY)

2. We have a new function that exits a positive trade ONLY when the alert TF changes color thereby allowing us to stay in the profitable trade longer which translates into more profit then the earlier method of a pre-determined TP target.

So in summary with some simple changes which include optimum capitalization in ones account and leaving any open positions alone until the counter trends start moving in the desired direction you can replicate what you see in the back test. Use your back tester to see and confirm what I am saying here.

Now for the classic taking ones statements out of context, ZipCON gets an A+ for this. I explained to everyone publically on my thread that I am posting my sons demo account with a custom set file (#4) that was set for a 1 hour high TF down to the 5 minute Tf.

This was experimented during the middle of July through the market correction to see if we could grab 12 pips as a TP target and close. Well Dennis gave me his statements that showed a huge number of winning trades at 12 pips each at somewhere around 80+ trades in a row. No losses. I pointed out that the statements had the earlier 1.set type trades mixed in and I would edit all trades out except for set #4 that was set up for 12 pips.

I made this very clear that I edited the statement to show ONLY SET #4 trades ONLY. I even went on record saying that we were encountering deep draw down during the market correction/crash with set #1 and they were not shown to focus on set #4 ONLY.

This is a great example of why people like to start rumors and totally distort the truth often taken statements OUT OF CONTEXT.

I am responding here only once and to set this straight in the hopes of riding the bad apples and to expose how certain mis guided individuals make a great forum like TSD into a place of wasted posts encouraging name calling and pure nonsense with distractions that hurt the traders that want to learn something.

Don

Actually I think its your last post because you know your ea is one of the most dismal failures and money losers in the history of Fx ea's. Maybe you finally smelt the coffee and will put you tail between your legs and go hide from the scene at last. I know guys who beleived in you and your lies and are now bankrupt because of the famously and fabulously bad Steinitz ea. Do you sleep good at night?

[steinitz]

Posting my results in real time. This statement is a continuation of the previous ones on this thread.

September 27, 2007

Don

[zupcon]

Originally Posted by steinitz

This was to be my last post but since I already put some time into this rebuttal on another forum I decided to paste this here.

What rebuttal on another forum ?, please provide a link. No you posted because you are worried that those $100 contributions are drying up

Originally Posted by steinitz

I want to go on record to defend my self against ZupCON who has his own agenda to try to make my life as miserable as possible. He got his feelings hurt when I asked to have his attacking, flooding posts removed. I make it very clear that I have no issues with any positive or negative postings as long as their constructive and not attacking with ulterior motives.

Here we go again, Don Steintz (who only yesterday on this forum publicly stated that he was a moderator at Forex TSD), now changes his story claiming that he asked for posts to be removed. Why would a moderator need to ask for posts to be removed ?. So perhaps Don isn't a moderator after all, perhaps he was trying to mislead the membership here by claiming that he was. What else might Don be misleading you about ?

Originally Posted by steinitz

My program/method/EA will not loose as long as the trader follows instructions. It's been shown on many backtests that it does not loose. It will often times hold a position for an extended length of time but will eventually close out in profit. And no you can't throw a dart at the market and replicate the same results.

I explain this to anyone who does not use a conventional stop loss how this works and what to expect in the long run.

What a crock !. Firstly Don has never undertaken a back test for a period longer than a few months. If he has, I challenge him to post it here for public scrutiny. Secondly the only back tests that Ive seen have been undertaken with Metatrader on a single currency pair. No attempt has been made to back test a portfolio of currencies.

Holding a position without a stop loss in the hope of a market recovery is not the same as a system that does not lose. You are in denial, but that doesn't matter, because you don't trade. Your business is taking $100 a time from the gullible and inexperienced.

Originally Posted by steinitz

In terms of a trader blowing an account. If the trader has too much risk and/or too much leverage you can blow an account before you gave yourself the opportunity to hold the positions until profit. We did not know at the time before the market crash/correction that all currencies at the same time would be in draw down. We advocated a 20% total risk but we have since made changes that have a positive impact on lessening the probability a perfect storm in the markets would cause a margin call in the future.

1. We have adopted a 10% total risk allocated across 8 to 12 currencies (being careful with GBP/USD & GBP/JPY)

2. We have a new function that exits a positive trade ONLY when the alert TF changes color thereby allowing us to stay in the profitable trade longer which translates into more profit then the earlier method of a pre-determined TP target.

So in summary with some simple changes which include optimum capitalization in ones account and leaving any open positions alone until the counter trends start moving in the desired direction you can replicate what you see in the back test. Use your back tester to see and confirm what I am saying here.

Again this sums up Don perfectly. Just read the sentence above that Ive highlighted in bold. What sort of muppet comes out with such nonsense. We did not know at the time before the market crash/correction that all currencies at the same time would be in draw down.. That pretty much sums up the amount of analysis and design these bozo's undertook before starting to write the EA. Not knowing didn't stop him marketing the EA, not knowing didn't stop him taking $50 a pop of several hundred traders. No the EA was marketed as a system that does not lose, until such that that it did lose, and then he changed the settings

Now you can protect the account by reducing risk, but the downside to that is you also reduce reward. Don wont quote any performance metrics for this EA, and the reason why he wont do this is because firstly he doesn't actually understand what those metrics mean, or how to determine them, and if he did, they would prove conclusively that this EA is an absolute dog !

Originally Posted by steinitz

Now for the classic taking ones statements out of context, ZipCON gets an A+ for this. I explained to everyone publically on my thread that I am posting my sons demo account with a custom set file (#4) that was set for a 1 hour high TF down to the 5 minute Tf.

This was experimented during the middle of July through the market correction to see if we could grab 12 pips as a TP target and close. Well Dennis gave me his statements that showed a huge number of winning trades at 12 pips each at somewhere around 80+ trades in a row. No losses. I pointed out that the statements had the earlier 1.set type trades mixed in and I would edit all trades out except for set #4 that was set up for 12 pips.

I made this very clear that I edited the statement to show ONLY SET #4 trades ONLY. I even went on record saying that we were encountering deep draw down during the market correction/crash with set #1 and they were not shown to focus on set #4 ONLY.

This is a great example of why people like to start rumors and totally distort the truth often taken statements OUT OF CONTEXT.

Yeah right, I once told my teacher that the dog eat my homework. What a load of nonsense, whoever heard of a trader editing a statement !. For anyone who wishes to check this out, Don only admits to editing the statement once he's been caught and called on it. Furthermore the edited statement was being pimped on every forex forum on the planet.

Originally Posted by steinitz

I am responding here only once and to set this straight in the hopes of riding the bad apples and to expose how certain mis guided individuals make a great forum like TSD into a place of wasted posts encouraging name calling and pure nonsense with distractions that hurt the traders that want to learn something.

Don

What sanctimonious nonsense. If Steintz actually believed this, he'd be participating (apart from the fact he has nothing to offer). No he knows, and I know, and several hundred long standing members know that Steintz is using the forums pimping a third rate commercial product. As long as the $100 contributions flow in, he doesn't really care whose account get blown, or how much money the inexperienced lose trading this EA.

So in summary, still no proof of a live trading account, still no credible back tests, still no credible forward tests (the latest covers 14 trading days, and is pretty much a record for Don)

Still claiming an EA that does not lose, still misleading potential customers that he's a moderator at TSD, still editing statements to remove losing trades, and still begging for chump change.

Mr Steintz, you are a class act (NOT)

[steinitz]

ZupCON spreads erroneous propaganda and I proved him wrong earlier about Paypal.

Lets watch him in action type a long dissertation to this posting.

Too funny

[zupcon]

Originally Posted by steinitz

ZupCON spreads erroneous propaganda and I proved him wrong earlier about Paypal.

Lets watch him in action type a long dissertation to this posting.

Too funny

Summary:

Does not trade a live account

Mr Pip does not trade this EA

His Shrills do not trade the EA

No credible back testing

No credible forward testing

Admits to doctoring statements

Admits a complete lack of analysis and design prior to coding

Describes a 38% retrace as a "market crash" (PMSL)

Once happy but gullible customers now demanding refunds

Consistently proven to be economical with the truth (e.g. claims to be forex TSD moderator)

Constantly contradicting himself, and still no spell checker

Still spamming forums and begging for chump change



Still not a single credible answer to a single question asked

and above all else, still one of the 95% losers, with no way of changing the situation he's found himself in. Probably best to stick to ripping of the tourists on the strip.

[steinitz]

This behavior from people like ZupCON is precisely what drives good programmers, developers and knowledgeable traiders into leaving these forums in search of other means of communicating or networking between each other.

It is a well known fact that there are always going to be individuals for lack of a better word (trying to keep it clean) that make these threads extremely long and cluttered with nonsense.

It's been mentioned many times by those that remain quiet that they do not like to post anything since they're afraid of being ridiculed for their questions. In essence this behavior deteriorates the usefulness of these forums. You the reader should be outraged and complain to the administrator to at least minimally clean up all the repetitive bashing.

I'm going to keep on posting my statements every month and unfortunately you will have to keep on skipping over sour traders that obviously have lost a lot of money or at least a little money consistently in order to be this sour. There are 95% losers remember.

It's a very well known fact that people in a competitive environment like to see other people fail. It makes them feel better (misery likes company). This behavior is seen on all forums. This behavior has and does drive many good traders and developers out of the scene where you the reader right now are losing out.

There is a gentleman well known on many forms and I don't have to repeat his name that has had enough of this childish mudslinging behavior and is opened his own private website/forum for the purpose to get away from people like ZupCon.

The moral of the story is I'm always going to be around developing, trading and making money while people like dipstick here will remain negative, skeptical, close minded and wasting valuable time trying to prove a point that doesn't exist.

When the dust settles my net worth will grow each passing day while his is wasted chasing people around. Like attracts like they say and he will always be a attracting bad things to himself. I honestly don't care how many times he's going to repeat the same thing over and over again since my objective here was simply to post this on record. Those of you that are smart and understand what I'm talking about will read this and ignore people like him in the future and read the posts that will improve your trading experience.

Don

[zupcon]

Originally Posted by steinitz

This behavior from people like ZupCON is precisely what drives good programmers, developers and knowledgeable traiders into leaving these forums in search of other means of communicating or networking between each other.

It is a well known fact that there are always going to be individuals for lack of a better word (trying to keep it clean) that make these threads extremely long and cluttered with nonsense.

It's been mentioned many times by those that remain quiet that they do not like to post anything since they're afraid of being ridiculed for their questions. In essence this behavior deteriorates the usefulness of these forums. You the reader should be outraged and complain to the administrator to at least minimally clean up all the repetitive bashing.

I'm going to keep on posting my statements every month and unfortunately you will have to keep on skipping over sour traders that obviously have lost a lot of money or at least a little money consistently in order to be this sour. There are 95% losers remember.

It's a very well known fact that people in a competitive environment like to see other people fail. It makes them feel better (misery likes company). This behavior is seen on all forums. This behavior has and does drive many good traders and developers out of the scene where you the reader right now are losing out.

There is a gentleman well known on many forms and I don't have to repeat his name that has had enough of this childish mudslinging behavior and is opened his own private website/forum for the purpose to get away from people like ZupCon.

The moral of the story is I'm always going to be around developing, trading and making money while people like dipstick here will remain negative, skeptical, close minded and wasting valuable time trying to prove a point that doesn't exist.

When the dust settles my net worth will grow each passing day while his is wasted chasing people around. Like attracts like they say and he will always be a attracting bad things to himself. I honestly don't care how many times he's going to repeat the same thing over and over again since my objective here was simply to post this on record. Those of you that are smart and understand what I'm talking about will read this and ignore people like him in the future and read the posts that will improve your trading experience.

Don

Well its nice to see Don taking the time to evade answering direct questions as usual.

Many will know that I'm a member of several private forums, and have been for the last 5 or 6 years. Many will also be aware that I quite frequently turn down invitations to join private groups, I have no need of them. For anyone who wishes to check out Don's credentials just look at his posts from 4 months ago where he asks the difference between a limit and a stop order.

Now as for cluttering threads on forums, ask yourself exactly who's has posted results from multiple demo account, and ask who's constantly begging for chump change. Out of interest I may just point out exactly how many demo's this charlatan has posted, and how long each lasted. It is quite fascinating reading. I could also point out the number of direct sales pitch's he's made.

As for moderation, personally I'm all in favor of it, if a poster cant back up his claims with factual proof, particularly if the poster has a commercial agenda then posts should be deleted. Now funnily enough I get a couple of PM's each day from a variety of forums from people looking for help and advice, and where I can I always try to assist, free of charge. That the spirit of trading forums, 5 years ago people helped me when I was starting out, and I try to do the same. I'm not on the forums prostituting my knowledge or skills, I have no need to, I make my living trading.

Don Steinz, will continue to prey on those they consider easy meat, he doesn't even have the intelligence or dignity to do it with any degree of style.

I sincerely hope that he does keep posting statements, with the caveat that its the same statement which gives potential purchasers the opportunity to see the long term performance of the EA. I also wish him luck, we all have to start somewhere, sure a basic moving average cross with no stop loss probably isn't the best starting position, but its a start. At least he has the intelligence not to risk money trading a live account.

Now perhaps Don could explain how trading using an EA designed by a crackpot such as himself improves a traders experience, it doesn't, it's a crutch, and a crutch thats likely to fail on you at any time. Ask yourself why Don's in the position he's in, begging for pocket change on a public forum, buying and selling stuff on e-bay ?, what a role model LOL

I will summarize, once again. Don Steintz does not trade a live account, he never has, and he never will and I challenge him here and now to post a live statement, or IRS returns on his profits, or a statement from his accountants. Oh I forgot, this small time con artist doesn't even operate a legitimate business entity, hell theres no need to, no profits to pay tax on LOL

The programmer who coded the EA has publicly washed his hands of any responsibility. Mr Pip does not trade this EA and that speaks volumes.

His Shrills do not trade the EA, sure they post in forums claiming to be 100 lot traders, then make the fatal mistake of leaving the swap figure on their published statements showing that they trade nano lots !

Mr Steintz has yet to publish a credible back test. His excuse, he has no data. The truth is his programmer has told him in no uncertain terms what the result of the back test will be

Mr Steintz has yet to publish credible forward tests, we are lucky if a demo lasts more than a week. For example the demo started on 27th August 2007 was conveniently dropped within a week when things turned sour. The latest demo has been running for 14 trading days. Mr Steintz has admitted to doctoring statements, but only after he was caught doing so. He's not even consistent with his lies in this respect.

The funniest and most damning inditement of the EA comes directly from Don today where he admits a complete lack of analysis and design prior to coding. Still it still didn't stop him ripping off several hundred inexperienced traders.

Almost as funny was his description of a 38% retrace as a "market crash", and it took Mr Pip to point that out.

I get PM's practically every day from people who once sent abusive PM's supporting Don who now say, yes, you where right, I was conned, how the hell do I get a refund.

Ask yourselves why Don feels it necessary to blatantly deceive people by claiming to be a moderator at Forex TSD. That alone tells us a great deal about this character, who prior to fiddling about with a demo account spent his days ripping of tourists in the casino's of Las Vegas. He's getting on a bit now, far easier to rip off a few gullible traders from the comfort of his armchair.

Now of course, it would be ever so easy to defend these allegations by posting some actual factual proof, but he cant. He does not trade, he has no back tests, he has no forward tests, there's a bunch of guys who thought they could get rich quick, who are now regretting the day they heard of this muppet. $50 is chump change, what annoys them is the time they wasted, and being taken for fools by a second rate con artist.

The sad truth is Don will get older, and he'll get poorer and the course of his sorry life will follow the same course that its run for years, and of course he only has himself to blame.

Oh and by the way, there's no need to worry about me Don, I'm making enough to keep my shareholders and investors happy, and the staff paid, and for me to what I like whenever I like, and wherever I like

Now hurry along now, there's a tourist needs ripping off

[bossxero]

Originally Posted by zupcon

Summary:

Does not trade a live account

Mr Pip does not trade this EA

His Shrills do not trade the EA

No credible back testing

No credible forward testing

Admits to doctoring statements

Admits a complete lack of analysis and design prior to coding

Describes a 38% retrace as a "market crash" (PMSL)

Once happy but gullible customers now demanding refunds

Consistently proven to be economical with the truth (e.g. claims to be forex TSD moderator)

Constantly contradicting himself, and still no spell checker

Still spamming forums and begging for chump change



Still not a single credible answer to a single question asked

and above all else, still one of the 95% losers, with no way of changing the situation he's found himself in. Probably best to stick to ripping of the tourists on the strip.

To Steinitz

I want to point out my view on whats going on... Till now, what I can conclude is the Steinitz is indeed escaping from the pertinent and important questions of Zupcon. I would like to give steinitz another chance to answer these question with some direct answers and not evade the questions once more.

I took time to read the posts at TSD and indeed, came to know that Steinitz was never a Mod there, so WTF?? Why such a lie here ??

As for the demo accounts, i can find some similarity with my own experience, which is, when testing Forex Strategies and Systems, I more than often blew a demo account in a week or two and has to get a new one on and on. So I also think that this is whats happening with Steinitz EA.

So Stein, you got one more chance to defend you. Post concrete, direct and clear answers especially in regards to:

1. Your Live Account
2. Your long term forward tests
3. Explanation why you contantly switch to new demo accounts(dont say due to expiry please)

That will be all for now.

[steinitz]

I believe I gave you a free demo. Why don't you post your results? They would be more meaningful then mine.

Everybody is a pure skeptic and 3rd party results would be better served for the paranoid.

Don