You may well have received a hatful of e-mails regarding the Trading Project by Stephen Brookes already. It was launched recently with an extensive marketing campaign. One thing you can say about these guys is that they are extremely good salesmen, but unfortunately all too often the product has been found wanting.
The trading project is a method of trading on the betting exchanges and could be used to equal effect at Betfair or Betdaq. The manual advises you to focus on specific horses in specific races, and shows you how to look for certain factors which will influence whether prices are likely to reduce (steam) or increase (drift) before the start of the race.
The selection process is not entirely mechanical and is open to some degree of interpretation, so it is possible that different people could end up with different results. However this is the nature of trading so is entirely expected. The process is sensible and logical but some form reading is required and it may take a little practise in order to get it right on a regular basis.
You are advised to enter a trade at a certain time and exit when the price has moved (hopefully in your favour) by a certain amount. Again, this is in my opinion a perfectly sensible approach.
There are worked examples in the manual with screenshots of what to look for before placing a trade, and how each particular trade was opened and closed.
Overall, I think the method is logical and could well make an overall profit. Whilst it would probably not be of much use to experienced traders, if you have never traded before then this may be a good enough starting point.
The main gripe that I have with this system is that it doesn’t do what the advertising claims it does.
The sales page certainly makes some bold claims. Apparently this is the most powerful Betfair system you will ever see. If the sales page is to be believed, you’ll be able to quit your day job after reading the manual! And most enticingly of all, it claims that profit will be guaranteed on every single race!
Are these claims true? In a word – no.
However this doesn’t mean that the system itself is no good – in fact it is probably the best piece of work I have seen from this author (although there have been some others which offer very little competition!).
Unlike many of his previous manuals, I think that this particular system does have some merit, so it is a shame that the sales page attempts to write cheques that the system can’t cash. If he had made more honest and realistic claims I would feel a lot better about recommending this system.
Unfortunately though, there is no such thing as a guaranteed way to profit on the exchanges. Losses are certainly possible using this method, and at some point you will experience losses when trading – he even goes into when to cut out of a losing trade in the manual, so how can he claim on the sales page that profits are guaranteed?
Furthermore I certainly wouldn’t agree that anybody could quit their job on the strength of reading this manual.
This system is fairly well though out and has some merit. I would expect that anybody following the instructions would make a profit in the long term. However, the sales material is somewhat misleading and makes some claims that are simply not true, so I am unable to recommend the system on that basis.
Rating 5/10 – This method is likely to be profitable long term but does not do what the sales page claims