Thursday 29 July 2010

FX Friday Lee Moore

We have bought this system and we will soon be opening a free Live Trading room - http://www.systemsfortraders.com/our-up-date-request-list-ask-us-forum/50167-fx-friday-lee-moore.html - Sign up for free and we will let you know when the Trading room is open.


ReviewTeam
http://www.systemsfortraders.com/

Monday 12 July 2010

G-Code By Steve Copan S&P Trading System

This system headlines with “Once you know this code, you’ll hardly ever need to trade again”. The system could reward you with “£35,000 - £40,000 a year in your spare time, by tapping a few keys two or three times a month”. The website also states that “No novices, no dreamers and no halfwits” allowed.

The manual covers the bar charts, Fibonacci retracements/extensions (the basis of the G-Code system) as well as Stochastics. These are all discussed at just the right level to set the tone for the two strategies that make up the G-Code system itself.

The strategies may seem complicated and daunting to some. However, as Steve suggests, some time commitment is needed here, he suggests 30 hours but we doubt it requires that long. All in all about 3 or 4 hours should suffice to run through the manual a couple of times (maybe three), print off the summary sheets and flick through some charts looking for the signals. A few notes of our own and we were satisfied we had a reasonable grasp of both strategies.

Both strategies are 100% mechanical, Set & Forget and are operated at the same time, once a day on the S and P Daily time-frame. Entries, Stops and Targets are crystal clear and a couple of minutes each day is all we needed. We placed our trades around lunchtime (UK), plenty of time before the S and P market opens. Straight forward once you have a grasp of the strategies.

Between March – May 2010 (backtest) and real-time trading in June we made a reasonable profit using both strategies.

Please visit http://www.systemsfortraders.com/ to read our full review of this system and many other Trading systems and services.

You can also read additional comments submitted by our members (other traders like you). Membership is completely FREE and your input would be more than welcome.

Systems For Traders - June Update

June 2010 Update

All,

Two new reviews to report since our last email, 1 Minute Daily and G-Code (Golden Ratio). Additionally, if you missed the previous email, the Tenkei Trading Techniques review has also been completed and posted.

The Forex Net Trap review, a potential for our Systems We Use list, has been updated with June's results.

Performance wise for "Systems/Services We Use", our worst month's trading this year (we made a small loss), we had our best month of the year last month!

- Sniper Forex, +1.5%
- London Forex Open, Our first ever losing month for this system, -3.5%
- DOW Letter, Two winners and a loser for as net +1%

So, as mentioned above, our worst (and only losing) trading month this year, a net loss of 1%. The London Forex Open and DOW Letter journals have been updated on the website.

As part of our bi-annual review we have decided to remove Sniper Forex from our Systems We Use list, you can find our final post
here.

The "
Trading Rooms" continue to be popular and we have recently added 1 Minute Daily there too. Once again we thank those participating and openly invite all other members - the more the merrier!

Do remember to pick up our Free Trade sizer if you haven't already done so. Details can be found
here - we appreciate any feedback for improvements, etc.

Thanks again to all that have contributed to all of the forums, without your input the site would not be the resource it is.

Best wishes,




ReviewTeam - www.systemsfortraders.com

1 Minute Daily Forex Trading Strategy

The 1 Minute Daily manual is quite well written, it’s only 41 pages but plenty sufficient to get the strategy across. It opens with a little bit about trading (and strategies), it then discusses breakouts before describing how to install the indicators and place orders. The installation (of the indicators) and placement of orders should be plain sailing for those with experience of MetaTrader 4, those without will obviously have a slight learning curve.

It really does seem like a minute each morning (09:00 for GBPUSD) 100% mechanical strategy, place two orders, one Long and one Short. The only requirement after this is to be around to cancel the opposing order, if/when the first order triggered hits it’s profit level. This check doesn’t need to be done any more than every few hours as the difference between the target and opposing order entry level is usually quite significant.

Our back-tested results for April and May matched those reported and we also had a positive June, which we traded on a real account, see below:

GBPUSD

• April 2010 – 14 trades, 9 (+40.5%) winners and 5 (-25%) losers = +15.5%
• May 2010 – 18 trades, 9 (+40.5%) winners and 9 losers (-45%) = -4.5%
• June 2010 – 22 trades, 13 (+58.5%) winners and 9 losers (-45%) = +13.5%
Net gain of 24.5%.

USDJPY
• April 2010 – 13 trades, 7 (31.5%) winners and 6 losers (-30%) = +1.5%
• May 2010 – 13 trades, 5 (22.5%) winners and 8 losers (-40) = -17.5%
• June 2010 – 14 trades, 9 (40.5%) winners and 5 losers (-25%) = +15.5%
Net loss of 0.5%.

Please visit http://www.systemsfortraders.com/ to read our full review of this system and many other Trading systems and services.

You can also read additional comments submitted by our members (other traders like you). Membership is completely FREE and your input would be more than welcome.

Tenkei Trading Techniques Forex Trading System Review

The aim of the Tenkei Trading Techniques System is to make just 10 points a day between 7:00am and 9:00am or 7:00pm and 9:00pm, thus at £5 per point, make £250 a week or over £1,000 a month”.

The manual provided details the strategy which is quite well presented with working examples, etc. Entry is based on two criteria being met, the first on the 1 minute chart, the second on the 3 minute chart. Supporting price action then confirms entry.

There is a degree of discretion for entry, one of two rules are generally applied, a break above the high/low of the trade confirmation candle or 5 or 10 points above the Moving Average crossover. The former was more generally applicable in the Daily updates although occasionally it was the latter. Some trades were entered without reference to the 3 minute time-frame and some, purely on the direction of the Moving Averages, further discretion.

There is potential here for some (who like lower time-frames) to use this as a “scalping” rule base.

Please visit http://www.systemsfortraders.com/ to read our full review of this system and many other Trading systems and services.

You can also read additional comments submitted by our members (other traders like you). Membership is completely FREE and your input would be more than welcome.