5 EMAs Forex System Review – Adam Burgoyne

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This topic contains 3 replies, has 3 voices, and was last updated by  craneliu 2 years, 8 months ago.

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  • #1726
    ReviewTeam
    ReviewTeam
    Keymaster

    5 EMAs Forex System Review – Adam Burgoyne

    Click below to visit the website

    Key Info

    Publisher:  Clickbank
    Cost:  $97 with a 60 Day money back guarantee
    Review Date:  June 2009

    What It Says On The Website

    Headlining with “Enough Of Theoretical Forex Trading Systems That Only Work On Paper!”, “Finally, a time-tested Forex trading system with documented proof!”, “a system that has the potential to turn $1,000 into $1,000,000 in just 24 months”.

    There is a link to a statement (from over 3 years ago we note) showing $5,000 growing to almost $40,000 in 34 weeks of live trading. Then follows another from over 2 years ago showing a $20,000+ return in just 11 days. Later on there are no fewer than 6 other statements and testimonials available for viewing, all showing fantastic returns and providing excellent feedback.

    The system uses “an incredibly accurate formula (developed by a professional Forex trader & Fund manager”, is “easy to implement” and can be used “just one day after reading the course”. It’s “perfect for people who don’t have time to monitor the markets constantly” and the rules “take away all the guessing and vagueness common to many other trading systems”.

    Monthly returns are generally “between 30% and 50%” and a couple of trade examples are used to provided to demonstrate the potential of the system.

    A custom alert indicator (for use with Meta Trader 4) and a 5 EMA’s Advanced Module is also included as is a 60 day Money back guarantee.

    The Material

    A whopping 147 page manual, wow!

    Well, we dived in and got down to the bones of this system, eventually. It is not in fact based on 5 EMA’s but on no less than 6 different indicators across two different time frames, 1 Hour and then 15 minutes for an entry.

    The material in the rest of the manual, not focused on the system and example, may well be of use and interest to many new to trading Forex, as its quite detailed to say the least.

    We didn’t delve into the “Advanced” module of the system, happily convinced that this one was going to be enough of a challenge without advancing any further at present.

    The System

    Set up is relatively straight forward as templates (for Meta Trader 4) are provided.

    And, as mentioned above it’s a MTF (Multiple Time Frame) type of system, well, there are two time-frames involved.

    We tried as best we could to decipher this system and somehow do some back-testing before getting involved in any form of live trading.

    However, this was our downfall. There were just too many indicators, too many rules, just far too much going on for us to consider taking this system any further.

    We are very keen on minimal chart clutter and simple, precise trading practices, this just did not suit our style at all.

    Can It Work

    We cannot comment really as we never got that far. It possible though, if indicators and a complicated and detailed rule base is your forte. It is not for us so, again, we cannot really comment on whether or not it can work.

    Support

    We had no reason to contact support so cannot comment.

    Summary

    PRO’s
    • Detailed and precise entry criteria.
    • Quite mechanical.

    CON’s
    • Way way too complicated for our more simplistic approach to trading.

    Do remember, your comments are important – If you have used or decide to use this system, please contribute to the community by reporting back your findings.

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    #1730
    ReviewTeam
    ReviewTeam
    Keymaster

    Systems For Traders had to be rebuilt in 2013

    This is a selection of key posts and comments from the original forum prior to the rebuild

    Yoshi74

    29-Jul-2009

    Couldn?t agree more. I bought this system a few months ago – but found it way way too complicated for me too, far far too many indicators, so I didn?t even trade the system.

    If I trade I want to be able to understand what I am doing. I did however receive my money back via Clickbank though so I didn?t lose anything.

    traderenka

    06-Aug-2009

    I too can add a quick note on this system – far too over the top, I never used it and asked for a refund within about 2 hours of purchase, Clickbank obliged within 24 hours.

    marlintrdg

    08-Oct-2009

    I purchased it directly from the vendor, although it was a somewhat involved process in setting it all up, even more time to get the hang of it and I’ve been trading 12 years so newbies will have a bit of trouble IMO.

    I had limited success with it mainly because of the amount of time waiting on signals and confirmation.


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    #2802

    Peregrine
    Participant

    I have had the system for a number of years, and have been using one of the indicators as part of my system.I believe it has been grossly overlooked and is a significant part of a successful trading plan.The 5EMAsAdvanced indicator particularly on the 5 and 1 min charts has been overlook and understated, I have recommended it to other traders and is worth the price on it’s own. I don’t receive renumeration from Adam Burgoyne.

    #3062

    craneliu
    Participant

    is this 3 Ducks system+additional 2 Ducks?

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