I am going to be looking at Trade 4X Pro. This sells for £297 and looks on first inspection to be very good value.
What I have received so far is a pdf containing the system instructions, Metatrader4 collateral in order to setup my charts, and access to a members area with results, daily advice and a “goal setting” spreadsheet. Apparently there will be some videos and a live trading room available later.
I have received a “welcome” email from Roz, the system owner, which does sound very encouraging. Here are some quotes:
I focus on very small risks and large rewards (I rarely use a stop over 20pips most are 10/15pips) and I aim for 2/1 risk reward minimum on most trades.
I am running a test of my service at the moment showing the daily trades trade4xpro delivers, I must add I don’t use any-
- moving averages/parabolic/bolinger bands or any other clutter on my screen
- candle stick patterns
- any EA or auto signal to buy and sell
I was shown how to use price action with my own areas of interest and I get into a trade very early on and as I say I look for minimum 2/1 risk reward sometimes much more.
As I don’t use any lagging indicators, I have the ability to get into trades early on unlike many unsuccessful traders, I have developed my own trading goals which I am now teaching others, with the ability to take 40/50pips daily from the markets while risking less makes my trading very consistent.
I do like low stops and the results indicate a consistent average of 600 pips per month with a 74% strike rate. At £1 per pip this is at least £600 per month tax-free, so I like this also. I do so hope the system survives this trial period!
As per usual, to allow direct comparison with other ForEx systems reviews on cash-master, I will be using £10 per pip. However, I do notice that Roz uses a different staking plan, so I will monitor that as well. Initially I will be concentrating on just EUR/USD, a will attempt to note basic and advanced trades.
This method uses 15 minute charts to trade, therefore this will not be a suitable method for people who have to work.
We will be having a Christmas break.
I will stop once at least 40 pips have been collected for the day. This may mean entering a trade because I only have 39 pips and exceeding the daily target.
One last thing to note is that this system is not mechanical and therefore where I place my orders may differ from where other place theirs. I think, by and large, we will all have out charts annotated in similar fashions, so this shouldn’t be a big issue, but may make a direct comparison of my results against Roz’s difficult if not impossible.