Foex – The Forex System/Strategy Testing Website

Well I knew it could well be a help to my own trading when I started the foex website, but didn’t realise how much!

Through the site I have been contacted (for the first time!) by an author of a new forex trading strategy, who has offered to give me a copy of the forex trading method they use to make regular profits from the forex markets so I can review on the site, of course I said yes!

I was sent through a very well written method to trade the forex markets, actually nothing like what I am used to, this is not a “system” as such but a methodology of how to set up your charts and which areas to look at for buying and selling on the larger time frames and then how to enter the trade through the smaller time frames with minimal risk.

I have to say I am very much impressed with this forex trading method so far, I have had 6 trades of which one broke even and 5 have won with a risk reward of 2/1 (twice as much won than I risked for stop loss), the stop losses have been small as well around 20pips each while aiming for 40/50pips.

This has been very refreshing as I have been struggling a little over the August period, these trades have brought me nicely back in profit.

The product isn’t even actually out yet as I have a beta version I have been using, apparently the full version will have a full video tutorial going through each step of setting up the charts with lots more examples.

The only bad point I can find so far is if you are completely new to forex trading the advanced strategy will take a bit of getting used to, I have traded for 4 years now and have picked up OK but would imagine a complete novice may have to read over a couple of times, then again the videos I’m sure will help this.

I emailed Roz the author and it looks like the release will be early September so not too long to wait.

I may start to post some trades I take on the site so you can see some real results, I hope they carry on as good!