Quick Trade FX review
I have just finished digesting Aaron Clarke’s “Quick Trade FX”. The actually strategy is encompassed in half a page of the manual which ticks off my first rule K.I.S.S Keep It Simple Stupid. The other thing I like is that it is a set and forget strategy using two price points at 7am, great if you need to go off to work for the day. The manual contains a lot of padding with how to open accounts and make trades but don’t let that put you off. The strategy itself works and would be a particularly good starting point for new traders. Why? Because you only trade USD/JPY, a currency pair that is a lot less volatile than the traditional GBP/USD and EUR/USD pairings that most of the other systems out there utilise.
Without giving too much away, Aaron supplies a spreadsheet with the manual and all you need to do is enter a high price and a low price over a period of 9 hours. I am not going to give away the exact timings as that would not be fair to the author. Please note this is an easy calculation and you do not need the spreadsheet, however, it is useful just to check your figures against his for the first few trades.
One thing that may put people off is the risk to reward ratio which is 2:1 against. E.g. 20 pips target profit with a 45 pip stop loss. However, the lack of volatility in this pair means it is very unlikely you would get stopped out, especially as Aaron recommends you close any positions at 10pm each evening.
I have back tested the strategy and have shown the results below including today’ results:
November 2011
10th = +20
11th = +4
14th +20
15th no trade
16th no trade
17th no trade
18th +20
21st no trade
22nd no trade
23rd -9
24th no trade
25th +8
28th -11
29th +20
Total 72 pips or £720 to £10 levels
I will now start a daily blog of the trades so we can see whether this promising start continues.
Full details here:
https://www.cash-master.com/quicktradefx.php
