Wednesday, 19 August 2009

Want to know a secret?

I just read an excellent post on "The Scalper" blog about Adam Heathcote's involvement in "Exchange Secrets". It pretty much sums up my view on the subject.

I consider Adam to be a bit of a hero and an inspiration to all traders. Who wouldn't want to be making the money he makes trading? There are many people who are in complete denial about his profits who say that he is just pretending, but that's just negativity. "If I can't do it, then it can't be done!".

Although he is earning far more than he otherwise would, Adam does miss out on having a "normal" career. It's possible that Adam sees Exchange Secrets as a step towards "normality". However, I think he has been ill advised, and that it harms his reputation, and it is a venture which is based almost entirely on that reputation.

My understanding was that Adam does what I do, making split second decisions based on price movements, not on what we think twenty minutes before the race begins. At that time we are making decisions on the race before the previous one.

Having said that, if any of my readers would like to send me £55 every month, I'd be happy to send them my vague, ambiguous guess as to where the prices are likely to be just before the off.
In fact, I'll do it for £50.


Anonymous said...

Adam is no doubt genuine, I just think this was an error of judgement. I also believe he trades close to the off with big money, not six hours out!

JS said...

Hey Allan would you mind if I asked you about your preparation for the day, essentially whether it actually involves any preparation. For instance, do you run through the card first and are you selective in the races you trade or do you trade most of them with differing strategies. Is there anything else you would recommend as good practive before starting or is it simply a matter of switching on the PC 20 mins before the first race and getting stuck in. Thank in advance for any advice.

Allan said...


Here's my preparation:

I rush home from work, get out of my work clothes, pour myself a very large whisky with ice, get a can of lager out of the fridge, switch on the TV and PC, sit down and start trading on the first available race. I try to trade all races, but sometimes I'll miss the odd one due to lack of time, especially if I've gone in play on the previous one. If there's time between a couple of races, I might put on a shirt if I'm cold or get something to eat if I'm hungry, and probably get myself another very large whisky with ice.

I honestly don't know how I would benefit by going through the card. Is that something you do? Maybe you could tell us why?

My recommendation to all budding traders (like me), is don't drink alcohol while trading, and close out your positions before the race starts. If you lose a large amount on a race, don't keep hitting yourself, and don't throw your mouse at the wall. Also don't fall asleep just before the last race at Perth when you are £192 red on all but one horses.

That'll be £55 please! :)

Anonymous said...

"and that it harms his reputation" what reputation ? He's hardly a demi-god some people perceive him to be.

It's always been a matter of time before he ended up touting some crap or other.That's not to say I doubt the figures he's posting as they are achievable but don't kid yourselves his initial website was set up to help anyone but Adam

Allan said...


He's possibly the best exchange trader in the world. That's a fair old reputation.

I don't think he disputes that he set up his blog to help himself. Generally that's why we all do it. However, I doubt he had Exchange Secrets in mind when he created his blog.

Where I am at odds with his venture is that I think he is claiming to possess a skill that I don't think he does. His partner may possess that skill and may be using Adam's reputation to market it.

The suggestion that it puts in people's minds is that by signing up to obtain these "secrets", you'll be able to earn as much as Adam.

Anybody who genuinely knows in advance where the prices will end up would be able to make a fortune very quickly without having to take £55 from punters desperate to make a profit.

JS said...

Only two large whiskys and a lager?? I suppose you've got to start somewhere :D