Product Name: Forex Trendy
Author: Not stated
Forex Trendy – Forex Trend Scanner
Money Back Guarantee: 60 Days – Clickbank
Where To Buy: http://jackw001.fxtrendy.hop.clickbank.net
Forex Trendy is a piece of trading software that quickly scans 34 different pairs on all time frames through from 1 minute to monthly. It’s said to be a powerful trading supplement to any trading tool you are currently using.
What’s It All About?
It helps you to avoid struggling with the erratic market chaos when the trend direction is unclear. After subscribing you also get an excellent 30 page ebook with lots of real examples called ‘Understanding the Myths of Market Trends and Patterns’. There is a members’ area from which everything is clear and simple!
How Much Money Do I Need To Get Started?
How Much Money Can I Make?
How Much Time Will I Need To Make This Work?
Not stated – but appears to be very varied depending on individual users’ personal choice!
Will I Need Any Equipment To Do This?
A PC or Laptop.
Value For Money?
Quality Of Customer Service?
You get a really straight forward sales blurb with this one. Straight into a short but very clear video that explains the background and broadly how it all works. There is no hype, just a clear and thankfully short (but effective) presentation of what you will get from this. The main thing to reflect on is that this is not a method or system but a powerfully effective tool to assist any trading situation you have.
Once signed up you have a username and password and taken straight into the members’ area where everything is simple and crystal clear! This is certainly a product that appears to ‘do what it says on the tin’ in relation to the sales pages!
At every successive moment in time, it analyses all 304 differing pairs/time frames so you are aware of the best possible current trends across the whole Market.
What a really refreshing ebook this one is! I have to say that this 30 pager was a pleasure to read. It is written in such an easy and unambiguous way that I simply ‘got it in one’ with no need to re-read it at all! The diagrams are some of the best and most effective I have seen and very clearly illustrate the various principles explained in the text!
It describes and gives excellent examples of Trending, Trend patterns, Triangles, Flag patterns, Wedges and a whole host of other really valuable insights. I have to say – and its something I rarely state in these reviews, this ebook is absolutely the best I have ever seen in terms of specifically explaining these principles, and although it covers just this area of the markets, it is amongst the best of the scores of other short guides I have previously encountered and read on forex trading!
It is truly excellent, logical and easy to understand! Some of the insights, such as calculating ‘Trend Draw downs’ in percentage terms and illustrating them graphically, are ones I have not previously encountered in this form ever!
Also makes some interesting suggestions regarding targets and especially stop-losses, emphasising that arbitrarily set stop-losses of set amounts of pips, ie 20, 50 or maybe 100 for example, is the wrong approach and the prevailing market and its volatility and especially the timeframe you are using, will mean very wide ranging stop-losses will need to be used. This is clearly spelled out in the ebook!
In terms of using this tool and its performance I would make the following observations. Firstly because of its ‘ever-changing’ members page where you get a continuously updated chart with the very latest patterns right at the top, it may tempt some people, especially those inexperienced, to ‘chop and change’ far too much, without allowing there own trades to take their natural course. The ebook stresses the need to minimise the number of trades taken, so you will need to be very discriminating and have the necessary degree of self-control to avoid the temptation of ‘hopping from one trade to another’.
Clearly with such a multiplicity of variables (306 !) and allying this tool to your own trading methodologies, it is impossible to make direct comparisons between the results of different users (unless they each chose the very same one at the same time!) However I was very encouraged that having used it for a few days I averaged 35 pips profit per trade using my demo account, which although encouraging, is far too small to draw any conclusions from.
A provisional recommendation for this one. Certainly if results going forward are of a similar quality to the written and support materials and the members site, then this could well to a real winner.
I am delighted to report that after using this for a week and in 8 trades, I have had 7 winners and 1 loser. I have made a terrific net profit on my demo account of 283 pips! On Wednesday 21st November I made 161 pips net – in one day! Given that I closed the first couple of trades early with modest profits (as I was new and finding my way) the profit figure could easily have been a good bit higher!
But do beware as this is, of course, much too short a time to make any assumptions going forward, but it is certainly extremely promising! But I am already starting to ‘fall in love with it’ and it’s just so simple to use. Anyone trying it must use a demo account initially before risking any real cash.
I must point out too that when first involved I though the fee was $37 a month (currently £29.75). It is in fact a quarterly fee so if it were to continue to perform even half as well as it has so far that’s the bargain of the decade.
After the wonderful start this has come down with a sharp drop since the last report. Just 2 winning trades and 10 losing ones with a net drop of 215 pips! The good news is that overall from the start of monitoring we are still up net + 68 pips. Please note I have been selective and most Trades taken have been from the ‘Trending’ part, with just a very small number of the many ‘Pattern’ trades – which include flags, triangles and rising or falling wedges.
It is only fair to point out that with the ‘Trending’ part the opportunities for the more likely ‘higher probability’ trades has been limited as it is clear that the bulk of the markets are not trending very strongly over the periods covered by the method! Also everyone should be aware that with so many options clearly not everyone will get the same results as I have.
Although the early gloss may have gone off this one I am hopeful it will prove to be profitable overall. I will monitor on an ongoing basis and attempt to trade selectively.