Hello, and welcome to the thread, and the board, but when someone duly comes along to recommend something, why does it always have to be with their _first_ post?!?! You'll excuse me if I'm not overwhelmed? Hope you'll prove me wrong and stay for a long time and make 300 other posts on different subjects as well!
Hello Rangerdoc, I was thinking exactly the same thing as Jana. Tell me something Rangerdoc, how did you find this thread on this service, it very interesting that your first post would be smack in here. Cheers email
In case he doesn't post again, email, and in case anyone's really interested, here's a link to a 23-page thread at another site which gives all the low-down (not to mention the high-up) on this winningforex "service" ... http://www.moneytec.com/forums/showthread.php?t=11946
Wow, I thought I could contribute something.. that's all. I understand the caution, but being accusatory or hostile to first time posters is no way to welcome new members. I guess I'll just stick to my other usergroups. I read about this one in ActiveTrader magazine and thought I'd visit. I saw a bunch of posts asking for input. NO ONE had replied who had first hand knowledge. I do. Don't ask if you don't want to know.
Take it easy there, chill out, it just seemed very funny that your first post would be here that is all. Hang around, and tell us how you make out from day to day with the system. cheers email
It makes pretty good sense to me. Outside of 5Minute Forex, I'm really not qualified to post on much of anything else. It's the only system I've ever traded live. I first was introduced to forex last summer. I study about 6 hours a night since then, more on weekends. A few months ago I felt I finally had it figured out. I blew out my first two practice accounts. (Of course I used a realistic dollar amount close to what my "uncle point" would be in real life... not the rediculous $50,000 play accounts they give you). We all come into this thinking we're special and not part of the 95% that lose money. After those two practice accounts I changed my mind about that. Yes, I too can lose money in Forex. I researched extensively and decided to try the 5 Minute Forex System. Bottom line... I'm making pips. I haven't beat the market. I wouldn't make a system anything like this. And that is a real blow to my ego. But I'm learning that trading is about making money, not being right. The system is not for everyone, and I respect that. But if you can follow directions, handle the drawdowns without getting cold feet, and resist the temptation to "Improve" the system, then you can make money. I started out my forex adventure determined to beat the market. I was gonna figure it out. After all, I've excelled at everything I've ever done in life. I learned real quick that the market doesn't give a damn how smart you are or how determined you are. It will take your money just like the next guy. With 5 Minute Forex I found an outlet to my urge to trade. I'm learning patience and discipline while my account equity grows. I have realistic expectations of what I will earn. I'm not quitting my day job any time soon. I would love to day trade for a living, but at this point it would only reduce the risk capital available for 5M4X. Right now, it makes more than I could hope to on my own. How much does the system make? First the disclaimer: Past performance is not a guarantee - yada yada yada. For 2005, the system has averaged 600+ pips a month. Results will vary slightly between traders as tthere are a few different options to the system. It is 99% mechanical. There are always scenerios that happen that you just can't make rules for without overcomplication, hence the 1% of discretion. Bottom line = the system works. Don't expect to get rich quick. The system only calls for 2% risk per trade times 5 currency pairs = 10% max of account equity is traded at any given time. Don't expect to open an account with $2k and turn it into $20k the first year. It isn't going to happen. If you open an account with $20k, you better have some stones, because the system frequently experiences drawdowns of 400 pips. I couldn't do it. Maybe with time I can. I'd be happy to answer any specific questions, but keep in mind it is a proprietary system. I can't answer all questions. I may sound like I'm selling it, but it happens when you believe in a product.
You know what, for some new person getting into the FX market paying a lousy $200 dollars for what seems a decent system and only another $100 a month for some sort of signals is a steal. Look at all these suckers in North America that go to these hotels for fancy presentations from 4xmade easy. They get stuck paying $4,000 for some crap that shows lines with red and green arrows, and on top of it $150 a month for the feed. Or the Markets traders institute guy, $5000 for his course (at least he teaches them something) For the record I do not know this beau Diamond guy (with a name like that figures he lives in Beverly Hills) or what his course is about. cheers, email