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Review Of The 8am Trader System INTRODUCTIONYet another one of those make a tidy sum while you munch your cornflakes trading strategies. Unique Selling Point here is "come the end of the week you could be GBP660 better off for about 15 minutes effort each morning"."Regular tax free profits are generated by placing a simple 'trade' on the FTSE each morning and another on the DOW".The Strategy has shown a return of GBP70 to GBP660 each week over an 11 week timeframe during May and August 2010 assuming a placement of GBP10 a point. In other words a GBP100 risk per trade based on the implementation of a fixed 10 point stop. There was not a single losing week during the above timeframe.THE STRATEGYThe instruction manual is 74 pages in length. Alan Milton, the vendor, compares the method to lake fishing, laying out 2 nets to catch the fish regardless of which way they (the fish/markets) move.The DOW and FTSE entries are well defined as well as the Stops, as they are fixed (10 points from Entry). The Exit strategy on the other hand is not so unambiguous, terminology such as "Judgement call", "to take what you are happy with" and "rely on your gut instinct" are...more
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