My name is Darrell Harmsworth and my aim with this blog is to give you an honest and unbiased review of the above product.
The system is / was available from Canonbury Publishing with a purchase price of £147 after a discount if purchased before a certain date. The product came with a 45 days money back guarantee and copies were limited to approx a few hundred if my memory serves me right.
My own personal opinion on this, is that 45 days simply isn't long enough to see any system in its true light. Purchasers may get lucky in that period and win or unlucky and lose. If the latter occurs, then I would presume there would be many returns and Canonbury dishing out lots of refunds.
To my mind, you would need a minimum of 6 months and ideally 12 to get a true reflection of its worth and I cannot envisage any publishing company doing that, anyway that's for another day.
I have seen and read comments made of this system on forums etc with mixed reviews. I have not found anyone who is prepared to give it a fair trial though as I intend to do. Most of the comments are based on short term results, good or bad.
I aim to test this for a full 12 months minimum and beyond if it all goes well to give it a fair run for its money. Starting the first Monday in October which will be the 3rd, my own daily results will be posted here, so please make a note of this and keep checking back to this blog.
One very important point to note, I am not an affiliate for this product and there are no links anywhere on my blog to purchase it, so as I have nothing to gain, you can be 100% confident that my review and results will be on my own reflections and interpretation of the rules of the system.
There will be links added in due course for related products and services which may be of interest to you.
Right on to the manual / system itself.
I read through the 55 pages manual very carefully in just over 2 hours and got it straight away. It seemed so straight forward so I read it again in case I missed something. I watched the enclosed CD as well a couple of times which gives trade examples.
I found it very easy to follow and set my charts and indicators up with ease. You are taken through each step one at a time from opening your account with IGIndex, the preferred one, to setting up the charts. Any currency pair can be used, but to get the best out of this system it requires the Advanced Charting Package which IGIndex have. There is a charge of £30 for this, but if you place 2 or more trades per month with them it is free. There are several indicators to set up, but all are clearly shown with diagrams.
The system operates Monday to Friday every week excluding bank holidays and the best trading hours for us in the UK is 6.00am to 10.00am and 1.00pm to 4.00pm.
Although I find the trade set ups fairly easy to find, some people may be confused by this as to what to look for. When a set up is found, the calculations for entry and stop loss are straight forward enough, but profit targets require a bit of thought and study of past support and resistance levels to determine when to exit a trade. This is a scalping system by the way.
You need to be aware of news items and details are given of a free website which have this information.
There is a members website with a dedicated help team if required.
You need to be aware of news items and details are given of a free website which have this information.
There is a members website with a dedicated help team if required.
Overall, I found the rules crystal clear. The setting up of the charts and indicators are easy to follow. The author Keith Cotterill and his team are only an email away if help is needed which I didn't require.
Just before I sign off, I tinkered with the idea of trading with a demo account, but found that some are not in real time so for the purpose of this exercise, I will trade using real money to minimum stakes. Also, I will only be trading the morning session - 4 hours is plenty enough.
See how I get on!
Please feel free to leave any comments if you have come across this or any other forex system. I will also be reviewing the Forex Net Trap system along side this.
