Each Way FX Final Review (probably)
I have been looking at Eachway FX by John Wheatland.
The product comes with an installer you can use to set-up an MT4 chart, so that makes life simple, and a spreadsheet you can use to calculate your stakes. Even better, the system requires little PC time as you set pending orders at a fixed point each morning on almost a fire and forget basis. I say almost as there is an action to be taken if your profit target is reached. You don’t need to use MT4 as John posts the day’s levels each morning, but if the market is volatile you may miss your entry if you rely on this.
A forum is provided for support and I found this very useful.
As normal for Cash-Masters ForEx trials, I used a £10 per pip stake but I also used a £1,000 starting bank and the supplied spreadsheet to calculate the stakes.
The system made 184 pips in 12 weeks, for £1,837 using the fixed £10 per pip and £151 from the £1,000 starting bank. The average stop was 45 pips. A balance of £1,000 and a 45 pip stop equates to a stake of 67p using the stake calculator. Therefore you’d need a bank of roughly £15k to operate this system at £10 per pip.
So, a very simple system that has made an acceptable profit. With access to a smart-phone or tablet with a suitable app, you could operate this from work quite successfully too. The most annoying thing was the double-loss days, which decimated the profits. If you were unlucky you could hit one of these near the start of trading with this system and you’d be very unimpressed, but the results from this trial suggest that the system can recover from these (thankfully rare) setbacks.
So, I am happy to APPROVE this system, as a nice little earner for little effort. £50 per month from £1,000 doesn’t sound like much, but with compounding and some patience this could easily grow in to a nice second income.
John has mentioned a beta trial of an update, which will hopefully improve the system. I have applied to test his, and offered to keep the trial open if accepted. So, if John allows me to test the beta, I will report back with an update in a few week’s time.
You can get Each Way FX here: