Free Forex E Book. In a few days time you will be able to download a free copy of my “How to Trade Forex” course. Starting 24th August My free daily signal service trial. See how you can get involved.
Update/initial review of my 1st week following (in depth) Tom Strignanos Signal service. New Forum news
Ivybot robot update: I actually think I will keep this one! If I do it will be the 1st robot I ever kept! LMT updates

Free Forex Training Course: An updated version of how I learnt to trade forex successfully, including examples that were scattered all around the site & blog. Takes you from complete novice to intermediate level forex trader.

If you have already registered (free) in the email box on the left hand side of the page you will automatically receive a copy of this literary master piece!

If you haven’t & would like a copy, please fill in the boxes now.

Free Daily Forex Signal Service

I read a startling article the other day where a forex mentor acknowledged that out of the 293 members who started his intensive (read expensive) forex mentoring program, after 12 months these were the results;

    * Only 121 still had trading accounts
    * Only 27 had made a profit.
    * Only 14 had made more than a 50% return
    * Only 6 had doubled their accounts or better

I am beginning to think that for many of you that a decent signal service may be the solution. The problem is that many of you have so many commitments, jobs, family, hobbies you haven’t the time nor enough money to get you through the difficult forex learning curve.

I have been (and still am) reviewing a number of signal providers. Some are ok, one or two seem very good and others I am not so sure. Many seem expensive. Some require you to be very “hands on”, ie you have to sit at your computer until xyz happens before you can walk away. Your day J.O.B’s tend to get in the way of this !

What I thought I would do is try a trial, limited daily free signal service for a couple of weeks, starting Sunday 23rd August Pre Tokyo Open.

I will send, to those of you who want to be included, signals based on the daily charts. There is a misconception that trading daily charts is more risky/costly than smaller time-frames. It is not the case, you just risk the same amount of cash, but reduce the $ per pip amount. I will explain to those who wish to give it a go.

For those who have a job/limited time daily is actually the best way to trade. I personally intend to limit myself to only daily and 4 hour charts when I resume trading in the next few weeks.

Anyway we can give it a try, run it on a demo. Costs you nothing but 15 minutes a day!! You need to email me at this address admin@forex-fxtrader.com if you wish to be included).I will probably post the updates on you tube later in the day. If it works may use this & LMT for the challenge.

Tom  Strignano’s Signal Service

Last week I mentioned that I had been reviewing a service that had been sending me forex trading signals since the beginning of June. I get 5 or 6 forex products offered a week and I haven’t time to look at most of them.

However, with this service I sat down over the holidays and had a look back at the signals and realised that they were profitable, some weeks very profitable. This week I have been following Toms signals live (playing around with a demo account whilst doing other things). This is a terrible time of year to be reviewing any forex product BUT there is good news & bad news.

Positive

  • Tom Strignano is a 25 year forex trading veteran who has run teams of traders for major banks. A friend of mine (who is extremely cynical when it comes to forex experts/products) grilled him over the phone and concluded he is the “real deal.”
  • His website has good educational content & helps you get into the mindset of how the banks trade forex.
  • There is a live chat room & webinars.
  • There is a 30 day refund guarantee if you decide its not for you.
  • If you are able to trade the whole of the London session I have found the signals /(with a little discretion) to be very profitable this week. The average 1st profit target was 40+ = very good risk reward. Quite a few of the trades went on for 100′s of pips profit.

Negatives

  • Toms service is expensive. You need to be trading an account of at least $3000 to be able to make sufficient profit to pay for the service if you go for all the pairs.
  • It is quite “hands on”. You can’t just place a trade & walk away & leave it. There are 6 different potential profit points. The idea (like mine) is you place at least 2 trades. take profit at position 1 and then move stops aim for 2nd targets and even 3rd.
  • I found this week (it is a bad time of year, but you still have to pay the fees) that trading after 6pm London time (gmt+1) & through the asian session that it was difficult to make a profit. This is because of there being less liquidity in the markets that the 1st profit targets were sometimes as low as 10/12 pips. By the time you take the spread into account it is not worth taking the trade.
  • The thin markets in the asian session means that the spreads are usually higher than during London, so the problem is compounded.
  • There can be a lot of trades at once (if you are trading all pairs). For this you need to have the time to give it 100% concentration, quite a bit of experience & money in your account to cover your leverage.

Conclusion

  1. You need to have the money & the time to be able to trade the signals. At the moment it is much better if you can trade the London session. This has been the profitable period for me.
  2. If you are new to forex and want to give it a try then I would suggest you go for a package with a few pairs. It is extremely difficult & stressful to be managing lots of trades at once.
  3. Its only the end of the 1st week. I will do a more detailed review in a few weeks time.
  4. I am looking at other services 1 or 2 of which seem to have great potential & are cheaper. If you are undecided wait and see what happens. I will review Strignano’s & some of the other signal providers in more detail over the coming weeks
  5. There is a 30 day refund guarantee. Interested? Take a look here:http://www.strignanosforexsignals.com/cmd.php?af=1034748

Forum News

As you will see at the top of the page we are almost ready to open the forum.
I will email you to let you know when it is finished.

Fapturbo Evolution

I sent the fapturbo evolution robot back. If it functioned half as well as their marketing department did then it would be brilliant. They have now sent me an affiliate link for an ebook telling me how to get it to work properly! $600 for the thing and then loads of add ons to find out how to get the best out of it! I will post a full review in the forum when I have time.

Ivybot forex robot I am pretty sure that I will keep this one. If so it will be the 1st forex robot that I didn’t send back, ever!

I have had the ivy bot on demo for a couple of weeks now and its in profit. It hasn’t made many trades (5 in 2 weeks) all on the $/yen but for me they all won for a total gain of 100+ pips completely hands free. (alx emailed me and said he had a loss but still ended up +93 pips – I have no idea why the different results).  If it can make money now then there is hope for it in the future. It has the usual 60 day refund guarantee.

If you want to check it out the Ivy Bot Robot, click here:


LMT update.

I told all of my followers 3 weeks ago that the best advice until the end of august, was to walk away and leave it alone. I am still getting emails from followers asking me why I think the results are not as good as before!!

No system in my experience works in all markets. The LMT is a trend following system. In the summer thin markets there is no trend. Solution walk away. The markets main trends are September to Christmas & January to late May. A lot of us here on the blog made a lot of money may until mid july with the LMT.Have patience it will do it again real soon.

Quite a few of you e mailed me asking about changes that had been made to the lmt that meant it didn’t work anymore. There has only been 1 change to the LMT in early June, which was an improvement. It made the lmt more sensitive if there was no trend, Thats it.

The story came from the video posting gentleman as discussed before. This crew were trading the LMT solely on the aggressive method of not taking profit at the 1st target and letting it run. They even acknowledged this  themselves in their final video that had they done this (our method) the sytem would have won.

So 10 weeks of videos posted showing how they lost consistantly (watch us lose every week, you can buy it here)! they have now decided that the system has been altered and therefore it does not work !

Doh. It was the summer markets that changed, nothing else. nada!

The LMT is the best, simplest, cheapest forex signal software i have seen in 6 years trading forex. When it works (8 months of the year) we will make lots of money, when the markets are not in our favour we will simply sit it out.

I realise it has been frustrating for those of you who joined in the last few weeks but patience & discipline are essential if you are to succeed at forex. Use your time for the next week or so to learn as much as you can and be ready for when the markets explode again in our favour. We had days in june when we were getting 20+ signals, all were winning & we couldn’t keep up with them !!


Until next time,

Marc

Want more of this? See these posts:

  • News Trade Sniper Review
  • Forex-Robot-World-Cup Review
  • Free Forex Analysis for the week ahead 14th December 2009
  • Trade Forex – A Guide
  • The next few days & forexexecutor release

    • Filed under: Example Forex Trades

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