subject: Forex Morning Trade Review - Does It Work [print this page] Before we start it is worth mentioning, we used this system for well over 12 weeks, recorded and reported all our results. Therefore, this review is not the same as others you may come across. We do not simply re-print marketing bumf from a sellers website nor do we copy and paste affiliation sales material. Our reviews are carried out by traders with experience who have actually used Forex Morning Trade, for over 12 weeks in this instance.
THE BASICS
The system is defined in a concise introduction video. The strategy trades once a day, first thing in the morning, and takes about 5 minutes to operate. The timing is 6:30am UK time. The vendor has been using the strategy for over a year "with very good results". A 130% profit from January 2009 to July 2010.
A Set & Forget mechanical system that just trades Cable. Trade direction, Entry, Stop and Target are clearly specified, they are shown on the screen (a Meta Trader 4 (MT4) account is mandatory to use the custom indicator provided). Trades are executed at the current market price if there is a signal and Stops & Targets are added immediately after.
THE STRATEGY
Together with a 41 page guide, a MT4 template and indicator is provided.
Set up and configuration should take anybody having MT4 experience a few minutes or so.
English is not the author's native language however regardless of this the manual is reasonably well presented. It covers the system in detail and supplies numerous examples. This actually is as simple as it gets with the indicator performing all of the decision making.
CONCLUSION
If you can get yourself out of bed at 6:30 UK time and have a Meta Trader 4 account you can do this. However, just because it's simple to operate that doesn't mean it's going to make you money. 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
This is, an average profit of 6% a month over a period of 3 months. These results are in line with those issued by the vendor and it is unusual we have differences.
We will continue to keep an eye on this strategy and we are even considering it for our "Systems We Use" list in our year end review.We welcome everyone to read and comment on all our reviews and join in our free Forex Trading Systems Review Forum.
by: TatianaU
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