August 13, 2010

Forex Net Trap

Forex Net Trap final review.

Graham has received notification that Forex Net Trap will be removed from sale Friday 20th August, so now is a good time to wrap up.

The system costs £247, and for that you get a 65-page PDF. The manual is written for noobies, and takes a step-by-step approach to creating an account with IGIndex, setting up a chart, looking for entry and exit points, risk management, etc. This appears to be very simple and straight-forward.

The method itself is also quite simple. It can be operated by 9to5ers, but it is vital that you are available for a few minutes at 06:30, and have access to the internet or a phone at 08:30 to close any open trades.

You get 1 trade per day, and I tested this for 71 days, however only 47 of these days had trades. This is on the low side for a sample on which to base a review, but here goes anyway.

Headline is 174.1 pips and at the cash-master standard of £10 per pip this is a profit of £1,124. This equates to £15.83 per day over the trial. The increase in bank has been slow, but steady; it did feel at times like the trails of Sisyphus though!

My more modest £1000 bank, staking 3% daily managed £68.63 over the trial.

Summarising this I find myself on the horns of a dilemma: for a serious trader who is using this to generate a liveable wage the return is not high enough, even at £10 per pip, to give this a thumbs up and I would have to go with a neutral rating here. HOWEVER, for those of you who work 9 to 5 who would like a second income stream, that fits in with your work and requires very little effort, this could easily be a system for you and would get a positive rating.

So I would plump neutral, your circumstance might mean that you take the Positive slant.

You can get Forex Net Trap (if available) here:

http://www.cash-master.com/forexnettrap.php

Filed under Forex,Spread Betting,Trading by Arthur

0 comments

Previous post:

Next post: