Monday, October 26, 2009

Forex Trading Systems : LeverageFX an Unbiased Review

Since I usually do not review manual trading systems today I decided to change the scheme of things a little bit and review the manual trading systems offered at LeverageFX.com. I was asked to review these trading systems by a website visitor who seemed to be interested in the way their manual trading system works. After taking a look at the website and analyzing the characteristics of the trading method they mention I decided to write this review. We will first look at the general characteristics and claims made by the people at leverageFX and then we will evaluate how "achievable" profitable trading results would be using this system.

More than a trading system, the people at leverageFX seem to be offering a variety of different tools that can help the average trader get more profit from the foreign exchange market. The website also talks about their strategies which seem to fit both advanced and new traders. The system for new traders shows signals as red and green bars and seems to be able to tell the trader precisely when he should enter or exit trades.

At first glance, this looks like many other manual trading systems offered online and does not seem to provide any additional focus that would benefit an experienced trader (in the new or advanced section). In my opinion, the trading aids offered by the company are not likely to benefit someone who is not already profitable in trading and will most probably give very little benefit to someone who already is. The problem of this system, I believe, is that it has an excesive focus on the finding of entry points and it underestimates the whole concept of money management.

The system never mentions how money management should be adapted against the market or how traders should exit the market in relation to the amount of money they have traded. Needless to say, you are as much as likely going to profit from the market with this than from other already available tools out there. In particular, there are thousands of different indicators being offered publicly for the metatrader 4 platform and many of them give you the same functions you find with the LeverageFX system.

My advice for people interesting in manual trading would be to learn it through experience, trade a simple trading system based on support and resistance with an adaptable and sensible money management and you will start to head into profitable territory. If the reason you enter a trade is because a bar changes color in an indicator, then you still have a lot to learn from forex trading (although we all keep learning!).

If you would like to learn more about my automated trading systems and how you too can benefit from trading long term profitable systems with realistic profit and risk targets please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !

8 comments:

Ben said...

you, my friend, are an idiot....keep using your robots while we trade using the best software in the world and all get rich...you have no idea from your discription what leveragefx is even all about...sounds like you just looked at the website for 10 minutes n wrote your review...enjoy being a dumbass and have a great life :)

Daniel said...

You are not the first person to reply to criticism with insults. If you think I don't know what it is all about then please provide performance evidence and an explanation of what you think it is. I am here to discuss these systems and give my opinion about them. As I always say, what I think is not carved in stone and it is subject to be changed given the appropriate evidence.

Please resort to argument, not to insults when you leave your comments.

Ben said...

im am not here to give reviews and explain things like you are trying to do with your post...but if you're going to give reviews without really looking into something then you are are not helping anymore...just making yourself look like a moron...so yes you are a DUMBASS

Daniel said...

I never give a review without really looking into the systems I am analyzing. I always spend at least a few hours of analysis before I write anything. If you feel that my opinion is inaccurate you can always explain why, with arguments. Right now you are just acting like a 5 year old, calling me names does not help any point. If you believe this system is better, then please explain your point with more depth and counter-argument the statements I have given within the post. Resorting to insult speaks about culture and education, we are not here to insult anyone but to speak about these systems with arguments, like civilized people. If you have no arguments please abstain to post any further comments as any more insults will be deleted. However any argumentative constructive comments are welcome.

LeverageFX said...

As the owner and creator of the systems we teach I have to agree with Ben. Our systems work and you'd have NO WAY to evaluate them without coming to our classes and learning them nor having our mentor only tools we give our trading students.

First, unless you bought our training you didn't even have ACCESS to our BEST tools and you'd have no clue how we trade! Thus, how in the world can you review something you had ZERO ACCESS to or NO KNOWLEDGE OF?

It's crazy! And your point that we don't teach money management is also wrong. We teach it every week in our classes and our SOFTWARE has a built in money management/ position sizing tool that tells traders exactly how many lots to trade! So again, I don't know if you make money from our competitors but your review is 100% inaccurate and based on opinion and zero facts.

Daniel said...

I made my review based on the information you provide on your website, since there is no mention of money management along your descriptions I thought you made no reference to it. However I might have missed something despite the fact that I analyzed your website for a few hours.

Of course I will gladly rewrite my review if I am wrong. I also want to stress that I do not work for your competitors, or anyone else who might be interested in giving negative feedback about your website. If you would like me to rewrite the review if it is misleading I will be glad to do so, send me an email with a better description of what you teach and how you trade, if possible you can include a performance statement so that I may talk about the effectiveness of your methods on my new review. You can send that info to ekans_@hotmail.com .

Again, I am interested in finding good forex products, if this is the case for leveragefx I am sorry but then your webpage does not do your content full justice. Again I am fully opened to a review rewrite if I am wrong.

LeverageFX said...

Fair enough. Come to our classes, we offer 2 weeks free on our site each and every week day at noon EST. You will learn how our systems work, why they work, and also more importantly how to know WHICH of the systems we teach are most likely to work THAT DAY. Money management is built into our software.

Some of our videos on our website are only for our students but you can see on URL below the #1 video under Advanced Forex Lessons and the first video we tell all new students to watch is on position sizing and money management. It's a SIMPLE concept, we teach 8-15 pip stops and 1-3% RISK per trade and the real secret to why our systems work and any profitable trading system is you always have small losses and break evens when trades don't work and the wins on average are 1.5 to 3x bigger.

Our avg wins are higher, in my opinion, than other systems taught because we statistically analyze every currency vs every other one and we FOCUS on ONLY trading the strongest trends. This also increases our winning percentage btw.

Come to our FREE classes, signup on our home page and see for yourself. You will immediately realize we have the best forex tools available to retail traders and in fact have 3 hedge funds who trade using our concepts. Why? They work.

Daniel said...

That is great I will go to the classes I can this week and rewrite my review. From what you say your trading system seems pretty sound and worth the try. I will republish the review as soon as I finish your free trial period. I am glad you have taken the time to leave comments and visit my website.

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