FX Childsplay Trading System Review

FX Childsplay claims "Don't waste another minute on Forex Trading Systems that just don't work! This system truly blows the rest away".

The 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 provider provides 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",

The entire strategy is set out over about a dozen videos, no manual, takes about 2 hours to go through them.

It says to use two time-frames is simple, 15 minute with 1 hour, 1 hour with 4 hour, etc. but does not recommend which instruments to trade to achieve the results advertised on the website.

So, we contacted support to ask - After 13 days and 3 attempts at establishing contact we decided to give up and not continue our review. A rare event but in this case we feel justified.

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.

4x Pip Snager Review

This system headlines with "Learn how to make 300 to 500 Pips a week with 87% accuracy" - 4 X Pip Snager is a "new Forex system that will change how you trade forever".

Three sample videos on the website illustrate some trades and there are also over a dozen screen shots, all falling into the 87% accurate winning trades. There's then a dozen or so unsolicited testimonials.

This is actually 3 systems:

- 4x Pip Snager Scalper system

- 4x Pip Snager Day Trader System

- 4x Pip Snager Swing Trader System

Being a Clickbank product it has a 100% money back guarantee.

The Systems

The manual makes it clear that EURUSD is the best currency to trade for the Scalper and Day Trading systems. The Swing Trader system was "Written on the spur of the moment" and not too different to the other two so we did not trade it.

Best time-frame is 08:00 - 10:30 London time for Scalper (1 minute chart) and Day Trader (5 minute chart) so that's what we traded.

Entry is about 60-85% mechanical, Stops and Targets are more discretionary.

Conclusion

Trading, mostly in real-time (some retrospectively) during August and September over a 6 week period our results were as follows:

Scalping System

- 24 trades, 12 winners and 12 losers

- A net return of 0%

Day Trader System

- 13 trades, 3 winners and 10 losers

- A net return of -8%

So, it's fair to say, neither system returned anywhere near 300 - 500 pips a week and neither was near the 87% accuracy rate identified on the website.

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.

August 2010 Update

All,

This is the August 2010 update in which we have to report a disastrous months trading in terms of Systems/Services We Use, more on that below.

Reviews: There were two new reviews posted earlier in the month, both BetOnMarkets based. In case you missed the email, they were the Ten Minute Trader and FX Friday, links to both can be found on the left. Today the review for the PositiveFX (Positive Forex) Signal service was posted, again the link can be found on the left.

Performance: As mentioned above, a terrible -28% this month for Systems/Service We Use, our worst ever trading month (we said this in July - if we have to say it again in September .....).

Anyway, results as follows:

- London Forex Open -13%
- DOW Letter -15%

The journals, see left hand side and our Consolidated Monthly Performance page have been updated.

Reviews Updated: The G-Code review and the Net Trap review have both been updated to reflect August trading and our conclusions on both of these systems.

Trading Rooms: A new password protected Net Trap Trading Room has now been created. This means the Net Trap system, it's working's and alternate approaches can be freely discussed. The password - "Is the time (in the format 1:23) Richard recommends to get up - See point 1 under 10 Point Summary of What To Do in the manual, page 3 in ours" - Here is the link to the password protected rooms.

So, a terrible trading month, the nature of the beast. We do not go out drinking champagne and buying all the caviar we can eat when things go great, so we will not try and let this recent run of losses send us to the bottom of a gin glass!

Thanks for your continued support and contributions.

Best wishes,




ReviewTeam - www.systemsfortraders.com