Warning: Declaration of gp_mobile_menu::start_lvl(&$output, $depth) should be compatible with Walker_Nav_Menu::start_lvl(&$output, $depth = 0, $args = Array) in /home/forexuseful/public_html/systemsfortraders/wp-content/themes/buddy/functions.php on line 0

Warning: Declaration of gp_mobile_menu::end_lvl(&$output, $depth) should be compatible with Walker_Nav_Menu::end_lvl(&$output, $depth = 0, $args = Array) in /home/forexuseful/public_html/systemsfortraders/wp-content/themes/buddy/functions.php on line 0

Warning: Declaration of gp_mobile_menu::start_el(&$output, $item, $depth, $args) should be compatible with Walker_Nav_Menu::start_el(&$output, $item, $depth = 0, $args = Array, $id = 0) in /home/forexuseful/public_html/systemsfortraders/wp-content/themes/buddy/functions.php on line 0

Warning: Declaration of gp_mobile_menu::end_el(&$output, $item, $depth) should be compatible with Walker_Nav_Menu::end_el(&$output, $item, $depth = 0, $args = Array) in /home/forexuseful/public_html/systemsfortraders/wp-content/themes/buddy/functions.php on line 0
Systems For Traders | Forex Sailor Review

Forex Sailor Review

HomeForumsReviewsForex Signal Service ReviewsForex Sailor Review

This topic contains 0 replies, has 1 voice, and was last updated by ReviewTeam ReviewTeam 6 years, 4 months ago.

Viewing 1 post (of 1 total)
  • Author
  • #587

    Forex Sailor Review

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

    Key Info

    Publisher:  None specified
    Cost:  From $85 a month depending on FX pairs and subscription period
    Review Date:  March 2009

    What It Says On The Website

    The simple website offers the following:

    – “Propietary (we think they mean Proprietary) algorithm”
    – “Set and forget system”
    – “Long and short trades” (a strange statement in the Forex world!)

    “Over 900 pips per month” is the headline here, “from Dec. 2006 to Dec. 2008 over 900 pips per month on average”. March and April 2009 also yielded well over 1000 pips each.

    We looked into the Past Performance section which details monthly performance statistics for each pair traded. This looks like a spreadsheet rather than an actual account statement and looks quite impressive to say the least.

    The system trades 3 majors (GBP/USD, GBP/JPY and EUR/JPY) although last we checked GBP/JPY and EUR/JPY were not considered majors. Signal generation is “100% mechanical. We use the same criteria and parameters to generate signals everyday; there are no subjective criteria involved in the process”.

    The signals are sent at 17:00 ET (22:00 GMT) with no further intraday instructions, as “we indicate Entry, Exit and Stop loss in advance”. Signals are also posted on the members website at this time too. In terms of placing the trades there is an assurance that “There is plenty of time for setting your position before system begins trading”.

    Rates for this service range from $85 for 1 month to $385 for 12 months. There is also an option to include the Forex Treasure System (see our review) and rates for both systems range from $137 for 1 month to $537 for 12 months.

    The Service

    We signed up for the 1 month service. We actually signed up for the combination offer of $137 for 1 month. We did this so as to include the Forex Treasure service and allow us to review both services side by side.

    After signing up we were not so much hit with a few surprises, probably more a case of we were not quite prepared.

    Signals are sent as promised at 17:00 ET (22:00 GMT). However, trade entry (the time you should place your orders) is not at this time. In fact the entry times differ depending on the pair being traded, from 18:00 ET to 20:00 ET (23:00 GMT to 01:00 GMT). No big deal other than we thought that 17:00 ET being 22:00 GMT was just about acceptable for us, receive signals, place a few trades, job done. So, not quite the case, as stated above entry times are staggered over 2 hours and start at 23:00 GMT. We decided to place all trades at 07:00 GMT the next day, besides this is only 5 hours after the latest entry time and it’s a relatively quiet period for the Forex market.

    This is where our next little surprise comes in. Bright eyed and bushy tailed at 07:00 most mornings, we are not, but placing 3 trades (one for each pair) should be no major issue for us. However, there are not just 3 trades to be placed. There are both Long and Short positions to be entered. So, 6 trades, not too bad, you may be thinking. But no, each position is traded in 3 lots so there are 6 orders (3 Long, 3 Short) for each pair so 18 in total.

    There is more. If, by entry time, price has already traded through any of the entry levels the trade is not placed. Also, if an order has not triggered by 09:00 ET (14:00 GMT) or 11:00 ET (16:00 GMT), depending on the pair, it is to be cancelled at this time. Finally, all positions are closed at 16:59 ET (21:59 GMT), no positions are held overnight. We decided to close our positions at 19:45 GMT to avoid roll-over costs on our spread-bets.

    In terms of Stops and Targets, each pair has its own static Stops and Targets (3 of them) for both the Long and Short entries. The Stop level for each pair is around 30 pips for the whole position. The Target levels range from 19 – 78 pips for the differing pairs and exit levels. This means the Risk/Reward for most trades works out around 1:1.5.

    As a member one also gets access to the breakdown of the underlying trades which make up the performance figures.

    Can It Work

    Our main issue with this service was their attitude towards spreads. They said their results were based on (Bid) chart prices. All results are thus based on 0 (zero) spread, what a world that would be! With this in mind we took a months worth of trade data and went to work. We applied spread to one side of each trade, the exit. Our finding was that a 500 pip profit, including the spreads on one side of the trade only, would have in fact resulted in a small loss.

    Trading this service is not a simple, receive a signal, place a trade and walk away service. It requires staggered entry of orders over a 2 hour period and the staggered pulling of unfilled orders over a 2 hour period. It also requires entry of up to 18 orders each day. This is more effort than most similar services but would be worth it if the reward was there.

    We could not find a level of comfort with this service because, based on our example above, re: spreads, more transparency in the results is required, e.g. results that include spreads (this is the real world after all). In our limited exposure to this service we came out around break-even taking into account the subscription payment and, of course, spreads.


    Support emails were usually answered within 24 hours. But, to be fair we didn’t have much reason to use support other than to question the usage of spreads.


    • Entry process is 100% mechanical.
    • Signals are clear and concise.
    • Stop and Exit levels are simple and easy to calculate.

    • Quite a lot of Order management.
    • Timing not ideally suited to UK (that’s us) customers.
    • Having to be around over a 2 hour period to enter orders.
    • Having to be around over a different 2 hour period to pull orders.
    • Spreads not included in results (completely unacceptable).
    • Unable to replicate website results (as we have to live with spreads).

    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

Viewing 1 post (of 1 total)

You must be logged in to reply to this topic.