Monday, March 15, 2010

Forex Expert Review

The Experiment Forex Automoney has been delivering automatic signals for years, even before Forex trading really became popular on the internet. Based in the United Kingdom, the company provides signals for people around the world, whether they be expert traders or part timers just looking to make some extra cash. The indicators tell you when to trade a certain pair, with the goal of maximizing profit. It's not autopilot trading, it's 24/5 trading signals, there's quite an important difference. Since it is used by many traders of different experience levels and talents, the system has been reviewed hundreds of times and the reviews are literally all over the internet. So many reviews, some quite biased I'm sure and some probably honest, can be confusing to go through and interpret. So I wanted to make it simple. I went ahead and interviewed an expert trader, a person who doesn't need to use a trading system no matter how good it is. I asked him to try Forex Automoney for a few weeks, trade various currency pairs with it, take a look at it's real profit potential and accuracy rating and tell me what he thought. You might ask, why do I care? Why would I take the time to find an expert , ask him to try this trading system and report the results? The reason is simple: because I care. I've been trading Forex for a little over 4 years now, but I'm definitely not an expert. Sure I have some techniques that work but I could use accurate signals, of course I want to make thousands per week without having to read news, analyze charts and spend hours developing new strategies, who wouldn't? The Results (You May Be Surprised) Anyways back to the task at hand, the expert agreed ( or else I wouldn't have been able to write this review). He traded the EUR/USD pair for a month using an MT4 platform on a demo account with a $50,000 deposit of virtual money. He used the automatic signals to open & close his trades and guess what? He made money. The accuracy rating was much higher than expected and he earned a few thousand dollars per week. Granted this was only 7-10% of the initial account balance but if you can do that every week that's quite a hefty chunk of change in your wallet every week.

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