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FX Childsplay Review - Is It A Scam?
OVERVIEW
Our reviews are unlike others you will read. We actually purchased and, tried to use this strategy. We have not and do re-iterate marketing bumf from a vendors website nor do we cut and paste affiliation sales copy. All our reviews are conducted by experienced traders that have really traded the system (or at least attempted to in this instance).
The author of FX Childsplay tells us "Don't waste another minute on Forex Trading Systems that just don't work! This system truly blows the rest away".
This system "uses 3 EMAs" and a "custom made FX Childsplay indicator". It has "easily identifiable entry and exit signals with predefined exit points leaving you nothing more to do than watch the profits roll in".
The system "suits both the day traders and traders who have very little time", it can be traded on all time frames "from 5 minute chart to weekly chart". Those with a "9 to 5 job need to spend at least 10 minutes a day. Maybe 5 minutes in the morning and 5 minutes in the evening. Simple".
The vendor supplies his email address with the promise "I am always ready to answer all your questions" and "I will go out of my way so you fully absorb and apply my system into your own trading in order for you to make the best out of it",
This is a Clickbank product so the standard Clickbank 100% money back guarantee applies.
THE SYSTEM
No instruction booklet here, the entire strategy is specified in a set of videos of which there are more than a dozen. Total time to trawl through them all, the best part of two hours, includes some back-testing plus half a dozen "live" trade examples (all winners of course!).
Yes, the video's are long haul, especially for a strategy that could simply be explained on a sheet of A4, But, they do get the point across.
This is a kind of multiple time-frame (two) multiple Moving average (MA) cross-over (3 of them) strategy traded in conjunction with the Childsplay (custom) MT4 indicator. The indicator is straightforward to install on any MT4 platform.
There are two criteria for Entry with the Stop being the prior swing high/low. Exit is staggered at 50% of the move and then again upon particular MA cross-over criteria in the opposite direction to the trade.
The recommendation for the two multiple time-frames is straightforward, use 15 minute with 1 hour, 1 hour with 4 hour or 4 hour with the daily.
There is no recommendation on which Forex pairs to trade.
SUMMARY
Lacking obvious indication of the best Forex pairs to trade or which time-frames to apply to realize the results advertised on the website we got in touch with support ("I am always ready to answer all your questions").
We asked some plain and simple questions:
- What currency pairs do you recommend?- What time-frame and what times of the day do you recommend for day trading?- What time-frame and what 10 minutes a day should 9 to 5 workers use?- Please can you supply the last 4 weeks Trade history so we can align our trading with yours?
After 5 days we had received no response so we re-sent the original and asked for a response. A few days later we tried again. After 13 days of trying to establish contact we decided to move on.
It is rare that we look into a system and then end up not actually trading it for review purposes. But, it does occur, especially if we can get no support when there are no clear guidelines on instruments and time-frames to trade.
Do remember, your comments are important, if you have any comment in relation to this strategy we would love to hear it.
FX Childsplay Review - Is It A Scam?
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