Forex Ambush Review

admin — Thu, 29 Jan 2009 15:55:00 +0000

Here’s a post by the esteemed colleague Dave Evans also known as the Market Maven

We can’t recommend this product because we haven’t used it but a link to the web site is provided here. We think it’s similar to FAPTurbo and there is a review of that product posted here

Forex ambush

Going back to the financial storm we’re facing, I thought I might share details of a system that someone emailed me about yesterday.

The system in question is Forex Ambush (http://www.forexambush.com) yet another forex system vendor who took the imaginative step of adding a ‘power’ word after ‘forex’ to name their product.

Forex ambush, forex assassin, forex assault. Think of a good power word and there’s probably already a forex system with that name.

The system is marketed with a load of blurb about the financial crisis; layoffs, debt, depression and why you need forex ambush which WILL make you money. We’re told it is 100% accurate with returns in excess of 20,000% annually.

Firstly, nothing is 100% accurate, at least not in the long run. That claim got my hackles up.

It took a quick scan of the results to reveal that Forex ambush was a very dangerous proposition.

All the wins are 10-20 pips which makes this a scalping system, which is fine apart from the fact that the system might be risking 300 pips to make just 10!

On January 2nd of this year, the system sold EURCAD at 1.6989 and closed at 1.6977 around three hours later. I’ve checked my charts and at one stage that trade was 110 pips against.

So you are risking 110 to win 12. That’s not the kind of risk reward I like to see

This one is worse:

Sept 12th 2008 – Sold EUR/ USD at 1.4170, closed at 1.4150. 20 pip profit. However, it went 313 pips against at one stage, that’s risking 313 to win 20. Madness!
Before the financial crisis broker I was reading Nassim Taleb’s books on black swans and how we are all fooled by chanced. One of the explanations for the sub prime crisis is risk taking like this.

Certain investment bankers were buying/ selling bonds consisting of bundled up sub prime/prime mortgages. The returns on this were tiny in comparison to the risks taken on. According to Taleb, it was like picking up pennies in front of a steam roller. The reason they were willing to take such a short term view was because their bonuses were based on short term performance.

We all know what happened next… they (and we) got steam rollered.

So while Forex Ambush might continue with its ’100%’ record for a few more weeks/months, the chances are that one day soon that trade which reversed on them won’t come back and you’ll be left with a loss of 1000 pips or more trying to win just 10.

There’s nothing wrong with risking more than you stand to lose provided you have a plan in place that accounts for this – i.e. a high strike rate. You can make money risking £100 to win £10 if you have a 95% strike rate. However, it is very dangerous to believe that just because a system hasn’t lost, it won’t, especially when there doesn’t seem to be a cut off point for the stop loss level!

Free Forex Trading Signals: Free Forex Trading Signals: Free …

When all is said and done check out the review at FAP Turbo Reviewed by Jake Peters that gives an objective review of the best software on the market for forex applications

Financial Data For Forex Currency Traders

admin — Mon, 15 Dec 2008 15:12:00 +0000

Information about auto forex systems

Forex – Financial Data For Currency Traders

If you are or desire to be a news trader in the foreign exchange (FOREX) market, you definitely need to depend on reliable information sources for the success of your trades. Whether a news, trader, day trader or long-term trader, you will find that being armed with reliable information can help you succeed. Where can this type of information be obtained?

Free Sources

In this age of internet-based data, you can access various financial data sources online without ever leaving your home. All you need is a reliable computer and internet connection, preferably high-speed. Many of the sources you find online will be free. However, most of the free sources will most likely come without in-depth expert commentary or recommendations on the trade you may be contemplated. Headlines from major portals such as MSN homepage and Yahoo will usually include very important economic news information. For example, in the case of the U.S. Non-farm Payroll Report the internet portals may include information regarding the expected employment figures or at least a link to such preliminary reports. Websites such as Forex Factory Oanda and Interbank FX will also provide some free financial news and research information. The latter two are retail currency brokers catering to individual investors. You will find that a few of the brokers even have a regular newsletter or trading forum providing their account holders with commentary or analysis on impending news events.

Paid Services
Perhaps you remember seeing years ago the diligent investor in your local library pouring over pages and pages of information in financial information volumes such as Standard & Poor’s, Value Line, etc. While these services may be traditionally geared toward the equities and bond markets, much of the same financial news and corresponding conditions that affects those markets also will impact the currency market. Now, however, online subscriptions and versions have moved in to claim a substantial piece of this research market, but have not replaced the older sources in their entirety. Neither have hard copies of Wall Street Journal and Investor’s Daily been completely displaced by their online counterparts. While you may find free access to certain sources at a public or local university library, your at-home or office hook-up will typically come at a price. Included in these fee-based services are companies which provide fast and up-to-the-minute news such as Reuters and Bloomberg news, often favored by news traders for their speed in delivering government economic news and other reports. Although most individual traders cannot justify the high cost of such services, it does not appear that the services will be shutting down anytime soon, as their services are in high demand by the institutional and corporate sectors.

By: Sandy Robinson, J.D.

Article Directory: http://www.articledashboard.com

If you are ready to change your future by stepping into the exciting world of trading FOREX, go to www.winningtradersassociation.com for more information. Author Sandy Robinson, J.D. is part of the Winning Traders Association, an educational organization founded by John Beiler, President. The organization consists of a network of committed trainers and motivated traders willing to provide support to those interested in trading foreign exchange. Many of the members work from home.

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Forex Ambush Review

Financial Data For Forex Currency Traders