I am going to resume the trial of FX-180 from the camp of Keith Cotterill. For some reason this was started but not continued, but the initial trial was very encouraging.
As per normal I will use £10 per pip. I am going to look at EUR/USD and GBP/USD pairs on the 5 minute timeframe. I will also look at US Crude and Gold using a 4 Hour timeframe, hopefully to demonstrate that the longer timeframes are a viable option too.
To keep things simple I will look at using a risk/reward ratio of 1:1, in other words, if the stop-loss is 22 pips my target will be 22 pips. One deviation I will utilise is to add a couple of pips to the stop-loss advised in the manual.
As is normal for me in ForEx based trials, I will run this for 3 months and do updates each weekend. I won’t trade (US or UK) Bank Holidays nor will I trade Non-Farm Payroll (NFP) on the first Friday of each month.
FX-180 costs £247. For that you get a 91 page PDF. I found this a little bloated, but as an experienced trader I don’t need all the blurb on how to setup an account and configure the charts. However, if you are new to ForEx trading you will find this information useful. There is also a members area online, which I do not currently have access too. Apparently this contains some video tutorials. If I do get access to this area I’ll let you know my impressions.
So, here goes …