Forensic FX Review from Alex Williams
What they say:Forensic accountant reveals the £11,830-a-year strategy that made him rich for the first time: “I’ll show you how to make £210 each morning before the butter’s even melted on your toast” Other forex strategies keep you staring at your PC all day, never knowing when the profit opportunities might show up – if they ever do… But with this approach, you just check for one super-simple signal that’s either there at 7am, or it’s not. If it is, you could set up an effortless £40, £210 or £370 payout while you enjoy your breakfast… And if not, you just drink your tea and get on with your day – knowing that by just the end of that week, you could have added an extra £280 to your weekly income, entirely tax-free.
Where to buy it
Trader’s Bulletin Review
Finally got my copy of Forensic Forex.
It looks like an upgraded version of a well known trading method using pivot points, that to be honest, if it was that alone I would have sent straight back as it is available for free on the internet.
But I have to admit Alex has introduced a new bit of TA to the mix, that I’ve not used in the past and has piqued my interest.
This is either very clever marketing (after all I did order it because I was intrigued by the “secret, hardly used technical indicator” they go on about in the promotion). Is it a repackage of an old, well known strategy, or might it actually be a useful addition that will filter out weaker signals and prove to be profitable? As ever, time will tell.
Some basic facts to be starting with, so you’ll be able to tell if this is one for you to watch or not.
Trades are placed at 7am (not before) and closed at 7pm if they have not already hit the stop or profit target.
It’s a set and forget strategy, so once you’ve placed your trade you don’t need to monitor it (I was a little surprised that Alex says you need to log back into your account at 7pm to check the trades and close them if they haven’t closed at the stop or profit target already. Hasn’t he heard of setting a “good until time” on his trades to do this automatically)?
The good news is by closing at 7pm we avoid the rolling charges, which can be eye-wateringly expensive on IG compared to other platforms.
As the name suggest we are trading fx, in particular;
You’ll need an IG account as the “secret hardly used special indicator” isn’t available on most platforms. I did have a bit of a hunt around determined to prove him wrong, but haven’t managed to find it on any other platforms, so this is true rather than just more marketing hype.
One point to take note of is you need to sign up to IG’s ProRealTime charts. IG do charge for these, but if you trade 4 times a month they refund the £30 fee, so this shouldn’t be an obstacle if you’re serious about trading, but might put off a few people.
If you’re not already got an IG account, you will be able to trade at 50p per point for awhile, meaning an account size of £500 is recommended. If you already have an IG account then the minimum stake is £1 and so a £1000 bank is needed (unless you are prepared to risk a higher % of your pot per trade).
Recommended risk per trade is 2% of your pot and target is 40 pips profit a week.
As ever if you’ve already got Forensic FX, please post some comments on how you’ve been doing and I’ll be updating regularly with my results too.