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Systems For Traders | Forex Daily Trading Review

Forex Daily Trading Review

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This topic contains 1 reply, has 1 voice, and was last updated by ReviewTeam ReviewTeam 6 years, 4 months ago.

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  • #210

    Forex Daily Trading Review

    To The Best Of Our Knowledge This Service Is No Longer Available

    Key Info

    Publisher:  None Specified
    Cost:  From $79.95 a month to $509.95 for a 12 month subscription
    Review Date:  October/November 2010

    What It Says On The Website

    A “Set & Forget system”, “100% Mechanical”, “Long & Short trades”, “Stable & Consistent since 2008” and “4 Major pairs only” are the headlines for this service from the Forex Daily Trading team.

    Average return is advertised as 700+ pips a month and the monthly results on the website, across the 4 currency pairs (GBPJPY, GBPUSD, EURUSD & USDCAD), reflect this. From January 2008 to end October 2010 the service shows a return of 25,480 pips. Over the 34 month period that is in fact an average return of 750+ pips.

    Signals are issued by email at 17:00 EST, that’s 22:00 UK time, with an average holding period of 1.5 days.

    Forex Daily Trading does not offer a free trial.

    The Service

    Signals are clear and they are received by email only (no SMS option) at or around 22:00 UK time on a Monday, Tuesday, Wednesday and Thursday evening. Where there is a trade for one of the 4 currency pairs – Direction, Entry, Stop & Target are all clearly defined.

    Order entry takes about 2 or 3 minutes. All unexecuted orders from the previous day are also deleted when entering new orders. Obviously, this can be automated by using a “Good until” order in the first instance, this is what we did.

    Can It Work

    First of all we analysed the historic results which show an average gain of 750+ pips a month. With a risk of 2% per trade and an average Stop of 60 pips that’s an impressive 20%+ return per month.

    There are 3 advertised losing months, March 2009, June 2009 and September, -510, -170 and -60 pips respectively. So, the largest drawdown equates to around -17%, again, based on an average Stop of 60 pips and 2% risk per trade.

    In October we made +180 pips, a return of +8% (50 pip Stop on all pairs except GBPJPY which was 70 pips) based on 2% risk per trade. On average, Risk:Reward was around the 1:2 level for most trades. There were 7 no trade days.

    In November we made +250 pips, a return of +7%. Again, Risk:Reward was around 1:2 for most trades. There were 8 no trade days.

    So, in October and November we made +430 pips for a return of +15% and all results were in line with those reported on the website. This is nowhere near the 700+ pip per month average but nonetheless it is not shabby either, especially for the effort required.

    Historically this service has performed well, if the published results are to be believed. We have only confirmed 2 months worth of this data so cannot offer any more judgement than that.

    We will be continuing with this service for at least another month and, as always, we will report back on our findings.


    Usually within 24 hours.


    • Simple, quick and easy to operate.
    • 100% mechanical, Set & Forget with a decent Risk:Reward ratio per trade.
    • Honest reporting, based on our 2 months exposure.

    • No Free trial.
    • Expensive (for some) at $79.95 a month.
    • At this price should also include an SMS facility.

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

    Members can post and subscribe to threads like this one

    And also receive an email every time we post a new review

    Click HERE to register for FREE


    Systems For Traders had to be rebuilt in 2013

    This is a selection of key posts and comments
    From the original forum



    Well, not so good this month, only losers so far.

    A few pips in Oct – A few more in Nov – Now in Dec we’ve given them back.

    After ‘years’ of a hypothetical average 700 pips per month, how is it possible that it could quit working as soon as we sign up? 🙂

    Anyway, my instincts are telling me to go away, but I’ll probably trade it for one more month.




    A very disappointing December for this service, 7 losing trades (-370 PIPs) and a net loss of -14%.

    06/12/2010 usd/cad short -50

    07/12/2010 gbp/jpy short -60

    13/12/2010 gbp/jpy long -70

    14/12/2010 gbp/usd long -50

    21/12/2010 usd/cad long -50

    22/12/2010 eur/usd short -40

    23/12/2010 usd/cad long -50

    This performance means that all gains made in October and November have now been given up. Performance is way off the websites 700 PIPs a month average headline. We will report back at the end of January on whether this is a slippery slope or a blip.



    The first month of the year and off to a bad start for this service, 5 losing trades and just one winner with a net loss of -60 PIPs or -2%, based on 2% risk per trade and an average Stop loss of around 50 PIPs.

    04/01/2011 EUR/USD LONG -50

    05/01/2011 GBP/USD LONG -50

    05/01/2011 EUR/USD LONG -50

    10/01/2011 EUR/USD SHORT -50

    24/01/2011 EUR/USD LONG +100

    26/01/2011 GBP/JPY SHORT -60

    27/01/2011 GBP/USD SHORT +100

    The official results record a Net profit of +40 PIPs. This is due to them reporting a winning trade where our entry was missed by 1.1 PIPs (on IG).

    After 4 months we will no longer be providing coverage of this service. Of course, as always, we welcome updates from those still using the service.



    I stopped my subscription a few days ago. After the weak performance last fall, I just watched, didn’t trade, this month, luckily!

    Also my platform didn’t reach that trade either – That happened once in October as well.

    Thanks for your review work.


    Members can post and subscribe to threads like this one

    And also receive an email every time we post a new review

    Click HERE to register for FREE

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