Reviewed - Forex Morning Trade

Reviewed - Forex Morning Trade

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Reviewed - Forex Morning Trade

Please note, we used this system for well over 3 months, recorded and reported all our results.  So, this review is different to others you will read.  We do not re-iterate marketing text from a vendors website nor do we cut and paste affiliation sales copy.  Our reviews are conducted by experienced traders that have actually traded the system, for over 3 months in this instance.

 

<b>INTRODUCTION</b>

 

Forex Morning Trade is explained in a short introduction video.  The system trades once a day, in the morning, and takes about 5 minutes to operate. The timing is 6:30am UK time.  Mark has been trading the system for over a year "with very good results".  A 130% return from January 2009 to July 2010.

 

A Set & Forget mechanical strategy that only trades GBP/USD.  Trade direction, Entry, Stop and Target are clearly defined, they are displayed on the screen (a Meta Trader 4 (MT4) account is required to use the custom indicator provided).  Trades are placed at the current market price if there is a signal and Stops & Targets are added straight after.

 

<b>THE SYSTEM</b>

 

As well as a 41 page manual, a MT4 template and indicator is provided.

 

Set up and installation should take anyone with MT4 experience no time at all.

 

English is not the author's native language but regardless of this the manual is quite well written.  It covers the strategy in detail and provides many examples.  This really is as easy as it gets with the indicator doing all of the decision making.

 

<b>CAN IT WORK</b>

 

So long as you can get up at 6:30 UK time and have a Meta Trader 4 account you can do this.  But, just because it's easy to trade that doesn't mean it's profitable.  However our actual results to date have been more than reasonable:

 

-  September  -  7 winners and 5 losers, +80 Pips

-  October  -  8 winners, 2 losers and 4 break-even, +240 Pips

-  Novemeber  -  6 winners, 4 losers and 6 break-even, +50 Pips

 

So, an average return of 6% a month over a 3 month period.  These results are quite similar to the results published by the vendor and it is rare we have discrepancies.

 

We are going to continue to monitor this system and we are even considering it for our "Systems We Use" list in our end of year review.

  Article Info
Created: Dec 3 2010 at 10:49:39 AM
Updated: Dec 3 2010 at 10:49:39 AM
Category: Finance & Investment
Language: English

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