My
on Radge based on my subscription to his service back in 2009 for 6 months, when I just got into trading.
Positives
- Service was as much educational as it was giving signals. He taught about reading charts as well as trade and risk management.
- Service was fairly priced.
- It requires fairly minimal efforts to follow.
- Nick was approachable and appeared geniune. He signed a copy of his book (it came with the subscription) with personal encouragement which made me felt warm and fuzzy.
Negatives
- Results were patchy and overall probably just paid for the subscription fee and probably didn't cover cost of capital over the period I subscribed.
- It had too many breakout type setup for what was a pretty volatile period. And it was a bit too slow to capitalise on market reversals (e.g. the current market has been ripe for shorting for 2 weeks, but Radge's system may still be waiting for another 150 point fall before break of support is confirmed).
- It's trend following without regards to fundamentals (which is fine) but it disagreed with my emerging style which relied on both analysis.
Overall I rated the experience as a big positive. The principals in trade and risk management that I learned stayed with me till this day. It may not be the best system to live off (as drawdown/quiet periods can be long), but I think it's quite suitable for someone with a regular income and little trading experience. You can go into the market reasonably well protected from massive drawdown and learn some universally useful principals of trading. If you make some profit on the side it's a bonus. If you grow your interest in the market as a result and develop your own style and turn into a full time trader... even better.
So on that note I don't think an audited result was that important to me. Every signal he called live were recorded on his website for all subscriber to see. I don't know how far back the data is available to current subscribers but I'd imgaine someone here can quickly tell us.
Please again note that my subscription was some 5 years ago so many many things may have changed.
On outperformance, it is up to the vendor if they want to increase the price of their subscription as their signals keeps generating better performance than the last period. I will bet that given the choice, people will be more than happy to pay higher subscription fees next period if this period performs better than the last as opposed to paying for a subscription keeps losing money.
Neither here nor there imho. As long as the seller of the subscription spells out that conditions, it's up to the buyer to decide whether that is acceptable. Any system will go into drawdown over different periods, and with Radge's services, any reduction in subscription fee is likely very small relative to the drawdown (and any subsequent profit) anyway.