I hope you had a relaxing bank holiday weekend and managed to catch some of the sunshine on offer.
I thought I’d do a quick summary of some of the trading systems and strategies I’m looking at reviewing. If you have any feedback on these or other systems you’d like me to take a look at, get in touch by emailing [email protected]
Triad Formula and other new trading strategies
Triad Formula http://www.triadformula.com – I have to tip my hat to these chaps; from a marketing perspective that is. They created a real hype around the launch of this offering. They started with some teaser videos, then moved to some live webinars then more teaser emails stating that the product would be launching in just a couple of hours etc… All of this came from the usual forex mafia names like forex killer, FAP turbo etc. We’re told less than a thousand copies will be sold…. Now there’s only a few left, hurry hurry.
Like I said, gotta hand it to them on the marketing front. Unfortunately my testing budget doesn’t stretch to the $1,900 asking price for the product, so I haven’t able to get first hand experience of the product.
What I would say is that previous forex mafia products were promoted using the same fanfare – FAP turbo being the standout example – and not a single one of these has lived up to the hype. I wouldn’t be in a huge rush to get on board. Wait a while and the truth will trickle through. I hope it’s as good as claimed, but won’t be entirely surprised if it’s not. Let me know your feedback if you have any.
I’m still collating my feedback on a few trials that my testers have been running. Markets Mastered seems ok, but the sort of thing that is obvious in retrospect not when trading live. I’ve had mixed reports from testers so would be interest to hear any additional feedback if you’ve been testing it under your own steam.
I was receiving the daily trading levels from Forex Jackal, but must hold my hand up and say I didn’t have time to do it justice on my own. It is the type of service that gives you a number of high and low levels to trade around. I found it difficult to review because there many ways it could have been traded. I’ve got hold of his ‘Jackel Juicer’ system which looks like it will be easier to test thankfully.
The Eur/ GBP 80/30 system has been tested recently. This is currently being sold on ebay. The feedback from testers was mixed, with the main criticism being that losses are too big. You can go a number of trades in profit then one loser can set you back a number of winning trades.
Speaking of ebay systems, I’ve been in contact with a vendor called Piptastic who I know caught the eye of few of you. He’s hopefully going to be sending his stuff over for testing soon.
A member pointed out a recent article in the excellent Hetherington column on http://www.thisismoney.co.uk/hetherington. In a nutshell JBC and or GSI trader used fake awards from the ‘stock market council’ to promote their service and may be using a fake address as well. Not what you what to hear when you’re asked to fork out £4,500 a time for their software.
Hopefully going to be able to trial Tom Tragett’s Forex Trade Alert service soon.
A member highly recommends the Key trades service from seven days ahead http://www.sevendaysahead.com. I’ll be signing up for a free trial today and will report back soon. I like the look of it. Returns look realistic and there is a professional feel to the site. Proof as ever, is in the pudding though. http://www.pia-first.com is also recommended by the same member.
It seems many members received a free trial invitation from FX profit builder http://www.fxprofitbuilder.com. I got access too late and the trial is now over, but would be interested to hear feedback from any members.
Similarly, a few of you appear to have received an ‘exclusive invitation’ for a service called FTSE CS live. I’m signed up for this and will let you know how I progress.
A couple of members suggested I take a look at http://blackdogprogram.com. Thanks for the tip. Dave has got back to me and I’ve now got review access. Will report back soon.
Winning Dow Signals and Forex Trades Live are also sending through their signals.
Finally I’m lining up a couple of book reviews for the next edition of What Really Profits. I’ve a copy of John Piper’s new book, “Binary Trading” which builds on his previous book Binary Betting. There’s lots of good stuff in there with trading ideas and strategies.
I previously reviewed Malcolm Pryor’s introduction to spread betting and have just ordered his latest book, “Winning Spread Betting Strategies“. I really liked his last book, so I’m looking forward to seeing if this one is up to speed.
I think that’s enough to keep me busy!
Really annoyed with my long trade on the S&P 500. It was only small and I cut my losses quickly, but I’m more annoyed because I should have had the patience to sit on my hands. I had only small confidence in the trade and felt more neutral on the market but went ahead anyway. Lesson learned.
I took a long walk down whippy street with my forex trades last week and suffered one of my worst weeks for a while. Thursday and Friday were the worse days, I think because Most of Europe was off on the Friday and the UK guys were eyeing the weekend getaway. I’ll certainly mark this period as a no trading day for next year.
This week’s hot trading buttons
Busy week this week. This afternoon brings two market moving announcements with Fed chairman Bernanke testifying alongside the release of the latest ISM non manufacturing PMI data. Wednesday brings the ADP Non Farm Employment Change data, with UK Services PMI in the morning. Thursday is busy with the MPC and ECB releasing their official bank rates along with news of any planned central bank actions. The ECB are expected to cut rates by a quarter of 1%. The release of the bank stress test is tentatively planned for the afternoon. Then to cap off an already busy week, we have US Non Farm Payrolls on Friday.
“The market is the sum total of the wisdom and the ignorance of all of those who deal in it and we dare not argue with the market’s wisdom. If we learn nothing more than this we’ve learned much indeed.” – John Mauldin