i blew out a demo account in one day using one a few weeks ago. Search my posts for something like "attn: trend followers." edit - here it is http://www.elitetrader.com/vb/showthread.php?s=&threadid=137242&highlight=trend I realize that is the opposite of what you were asking for, tho
counter-trend systems always go bust, sooner or later. They work well during finite periods of price consolidation. Once the inevitable directions take hold, counter-trend traders enrich directional traders.
The last few weeks were counter-trend? It all depends on how you view and read your charts I guess. I'm an avid "Trend Reader". Only charts have "Trends" and price moves either with the "Trend" or counter-trend. If you can read price direction and strength you can profit from both directions. "One doesn't trade Trends, one trades price as it moves inside a Trend." 13 years with the same account and no blow outs!