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Systems For Traders | Forex Trade Alert Review – Tom Tragett

Forex Trade Alert Review – Tom Tragett

HomeForumsReviewsForex Signal Service ReviewsForex Trade Alert Review – Tom Tragett

This topic contains 1 reply, has 1 voice, and was last updated by ReviewTeam ReviewTeam 6 years, 2 months ago.

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  • #208
    ReviewTeam
    ReviewTeam
    Keymaster

    Forex Trade Alert Review

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

    Key Info

    Publisher:  Agora
    Cost:  £497 a year by Direct Debit with a 90 Day Money Back Guarantee
    Review Date:  March 2011

    What It Says On The Website

    “No guides. No manuals. No DVDs. No learning. No skill needed.” – “All you need to do is get up, have breakfast, and switch on your mobile at 8:00am”.

    Hats off to the introduction to this service, not the above quotes, but the reference to flying a plane having been given the “big fat ‘how to fly a plane’ guidebook”. The analogy to having all the tools at your disposal to trade the Forex markets is made. Although it can be considered marketing copy writing some will find some truth in the reference. You can read it should you wish by clicking the link at the end of our review.

    Tom states that he came out of retirement “to show you the smart, easy way you could profit from Forex – And to make you a truly unique offer”. He worked in the city for 31 years “slaving away on the Forex markets to make millions for rich clients” and “was paid handsomely to do it”. He believes he can “make you a 40% to 50% gain from the Forex markets over the next twelve months”.

    To use the Forex Trade Alert service all you have to do is keep your mobile switched on between 08:00 and 20:00 Monday to Friday and wait for the signals. Each signal will tell you the exact trade to place, then you simply “sit back and see how it pans out”. For each signal a follow up email details the reasons “why we’re trading” that trade. Estimated time to place and close each trade is 10 minutes. Trades will typically run for 2 – 7 days.

    Some other points are noted:

    – Tom stresses that the strategy is not foolproof, there will be losses
    – The service will not make you a millionaire, 10% – 15% gains per trade is the aim whilst accepting small losses
    – You’ll need £2,000 to start off with – Risking a maximum 5% per trade this is about the minimum amount of capital required to make trading the service worth your while
    – If you are looking at daydream returns of 500% – 1000% a year this is not for you

    We welcome these level headed and sensible points as we agree with all of them.

    In addition to the signals, each day, Monday to Friday, Tom will provide his “daily briefings and markets notes”. They contain his “lowdown on what’s going on in the world of Forex… what the international banks are up to… what governments are planning… how the whole economic outlook is shaping up”. Tom has “been told that his daily briefings alone are worth being a member for”.

    Finally, a copy of the “Secrets Of The Currency Market” report is included, this is yours to keep regardless of if or when you cancel your subscription.

    This service comes with, we think, the most generous Money Back Guarantee we have ever seen, 90 days. It is backed by Agora.

    The Service

    Signals are received by SMS and they are clear and easy to place. They can be received at any time of the day (08:00 – 20:00) although they are seldom received outside of “normal office hours”. We would say 10 minutes to place the order is an exaggeration, anyone with any trading experience at all should be able to place their order within a minute or so, even on a mobile device. Whilst some entry levels are close to the current market price Tom always sends instructions to use a limit order to catch the entry on a retracement, where this is the case.

    Follow up emails (to signals) are useful and informative, providing detail on why each particular order has been placed.

    When a trade is heading in the right direction trade management is performed via SMS and followed up with an email update. Again, this can all be done quite quickly and easily via most mobile devices these days.

    The Daily Briefings, as they are called, are received each morning, typically before 10:00 UK Time. They provide technical information on many of the key Forex trading pairs and identify forthcoming news events which may affect each pair. Tom combines the two to provide his analysis and expectations of these markets. Mostly, this information is generally available on the internet (perhaps not in a consolidated place) with the exception of, of course, Tom’s analysis and expectations.

    The “Secrets Of The Currency Market” report is a short (32 page) and basic guide to the functioning of the Forex market and the concepts behind Spread betting, Risk management and Position sizing. It provides a good beginners overview but it is not essential to the usage of the Signal service.

    Can It Work

    We have had access to this service since the beginning of 2010. At the end of March 2010, Tom reported a 46% gain since inception (April 2009). We did not have access for that complete period so we have based our review on the last 12 months (April 2010 – March 2011 inclusive) instead.

    Our results are as follows:

    April 2010 – 1 trade, +6%
    May 2010 – 3 trades, -20%
    June 2010 – 4 trades, -1%
    July 2010 – 3 trades, -13%
    August 2010 – 2 trades, +18%
    September 2010 – 5 trades, +13%
    October 2010 – 2 trades, -3%
    November 2010 – 3 trades, -6%
    December 2010 – No trades
    January 2011 – 3 trades, -5%
    February 2011 – 4 trades, +8%
    March 2011 – 2 trades, +9% (Note – 1 trade is still open – this assumes the in profit Stop on 50% of the position is hit)

    That’s a +6% return over the last 12 months with a maximum drawdown of -28%. Over 2 years, this is, of course, an average gain of 26% per annum (46% + 6% / 2). All of our results are based on placing the recommended stake and risk advised in the signals.

    All in all this is a service which has not performed as well as expected (e.g. the advertised 50% per annum) but nonetheless one which may be of interest. On the basis you:

    • Want to place trades based on a service which is aimed at returning 50% per annum
    • You want a detailed explanation as to why you have placed those trades
    • You want a consolidated technical and fundamental Forex report each morning
    • You want another analysts opinion of the markets based on that data

    Comfort may also be taken from the associated 90 day Money Back Guarantee backed by Agora.

    Support

    We contacted support on a few occasions – Tom’s responses to trade related questions were always prompt and courteous, and Agora’s response to service issues (e.g. change of mobile number) were above par too.

    Summary

    PRO’s
    • 100% mechanical, just follow the SMS alerts.
    • Simple to operate, even from most mobile devices.
    • Detailed trade updates.
    • Consolidated Technical and Fundamental Daily briefings including Tom’s analysis and expectations.
    • 90 Day Money Back Guarantee.

    CON’s
    • Performance really needs to be nearer that advertised 50% per annum target.
    • Expensive (for some), starting at £497 a year.
    • Price rises by 30% – 40% in the second year depending on subscription method.

    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.


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    #611
    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

    zorba_g

    15-May-2011

    Good review Reviewteam

    I’ve been using Tom’s signals since 2009 and it was the first Agora product I ever bought. I had great performance back then, but as I was a bit green I shifted it to minimum stakes the minute it hit a few losers and haven’t put it back on the ‘first team’ since.

    It’s eye-opening to see the results had I stuck to it, and it underlines the importance of risk management in any system.

    Forextrader99

    10-May-2012

    I used the Forex Trade Alert system last year. in 3 months there were seven trades six of which lost money and one made money. Net result: down about 1000 pips. I wrote several emails to Mr Tragett none of which did he reply to. Most of his time is spent telling his subscribers what is happening in the markets but this information is freely available.

    When will people learn that in the short term currency markets are stochastic (random) and you cannot make money. Your expected gain is a loss equal to the spread. Any gains are wholly fortuitous. Whether you can make money with long-term trades I’m not sure, but daily trades, forget-it. The way to make money is by peddling systems not trading.

    samath

    06-Jul-2012

    I have followed this for two years. I fully agree with all the comments – Tom’s daily stuff is too much (he analyses things to death) and available elsewhere – His trades are few and far between and the performance is pretty poor – Nowhere near the figures advertised.

    orange

    08-Aug-2012

    Anyone trading this – I don’t but a mate of mine who still gets it says there hasn’t even been a trade for months, just the usual daily forex market update waffle.

    ReviewTeam

    20-Sep-2012

    Seems this service has been pulled – It appears to have been replaced with Forex Insider Daily – You can find our views on his new service here


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

    Click HERE to register for FREE

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