This system is currently on sale for £127 and for this you receive a 41 page pdf manual which fully explains the system, plus indicator and template files for Metatrader which really make the system easy to operate. In addition, support via email is also provided.
The main beauty of this method is that it only takes 10 minutes per day, and it should therefore be possible to trade around a full time job.
I have found the manual easy to follow and set up of Metatrader took no time at all. It is important to ensure the time settings are correct (as not all brokers use UK time) as this will ensure the indicator operates as it should in conjunction with the ‘Asian Market’ period.
The methods are based on breakouts from the Asian Market Range and the manual leaves no room for error i.e the entry and exit signals are clear.
I’ve been running London Forex Open since 1 November using the “conservative” approach. Now it’s time to summarise the results and conclude the trial. I started trading using a trial bank of £1000. After a period in the red (the bank falling to £937) the system clawed its way back to £1021 by 3 January. Since then the days with qualifying trades have been:
7 Jan: -120 pips, bank £990
14 Jan: +60 pips, bank £1005
15 Jan: -120 pips, bank £975
17 Jan: +120 pips, bank £1004
24 Jan: -120 pips, bank £974
30 Jan: +120 pips, bank £1003
3 Feb: +120 pips, bank £1033
13 Feb: +60 pips, bank £1048
14 Feb: +120 pips, bank £1080
Final Bank: £1080.
Taking into account the system costs £127 as a one off I would have lost money over the trial period. However this comes with a couple of caveats:
Firstly, I only tested the “conservative” trading method. The system also has an “aggressive” risk approach and also an “advanced” trading method. The vendor is keen to point out that the overall systems run in conjunction with each other have made money, though the system manual leads you to believe you are to make a choice between the conservative and aggressive methods based on your risk tolerance.
Secondly: the system can be traded on multiple currency pairs (I only traded one) so this would obviously provide more trading opportunities and may have produced different results.
The vendor has maintained excellent contact throughout the trial and has been honest enough to point out losses when I had overlooked a trade.
Based on my results I would rate the system as NEUTRAL.
You can download London Forex Open here: