Monday 22 November 2010

Forex ups and downs and new directions

Don't let any person or system tell you that forex is easy! I've just spent about 2 1/2 years struggling with the "highly rated" Trading Edge Strategy Software (TESS) Ultimate Forex Predictor system.

Now I know some people do well with it but for me, 30 months of effort, hundreds of hour recording and analsysis results and trying different models, charts and rules and settimgs...in the end, 50 points down...so the cost of TESS at about £2500 plus the IQ feed at $80 a month...ouch.

I'd also had a short go with GFS Forex Signals. That's one I might revisit and sign up to follow Utusk who seems very consistent. Tyically on the test I tried I went with a guy called Pips Rain. At that time he was 900 points up after 6 months or so with the proud record of never having had a losing week so far. First week, +50, nice. Second week.... lost 600 points. I look now a year later and he never came back from that. Forex is not easy!

So what now, well I'm looking at the Forex Net Trap that seems like a nice simple system that also has a 60 day money back g'tee. We shall see!

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