Show me the money!
I'm using forex rebillion system so far I have good results
Hi Jaystefan - Noticed you just joined the forum today, so a very warm welcome to this great place of discussion, learning (sometimes spamming and lying) but always a place of great interest and enlightenment in many ways! :smart: :smart:
Good that your very first post you are supporting Forex Rebellion. Can you also post your results - either in tabular form, screenshot, or just call them as you go, as BM is doing?
That would be great - just the open/close/profitable pips would be enough.
I am really interested in this thread, for the following reason, notwithstanding that the system may work:
I have already searched Google for FR and found 400 sites applauding it, in the first 11 days since release.
So clearly FR had wide affiliate promotion organised a long time prior to release.
But just because of the "shock-and-awe" tactics used by the promoters (which btw is tantamount to fraud and dishonesty because they are claiming results which In my view are unlikely to have been generated/tested on live trading platforms by all 400 sites claiming the results) does not mean that FR is not a profitable system.
It does mean that there are a lot of promotional sites repeating hearsay by the parent affiliate. As for the claims that
"Very little hype with this product unlike a lot of forex products that are hitting the market." well - you be the judge concerning what is and is not "hype".
It does also mean it is a profitable mechanism, to blanket the Forex Retail Market with advertising a new product in this way. And it does mean that if enough sites are claiming these profitable trades, then enough people will become believers and buy the method.
I noticed from your link that Russ Horn has a video of a live trade. The advertisement shows that he is using $1 per pip in the "closed" transactions' but in the live trade he did, he is trading $60 per pip.
Why is that I wonder? He was up around 17.4 pips for $1044 profit at one stage, according to the video. At the close of that trade, he
"got stopped out for about 500 dollars worth and it's a good trade" so his "good trade" was about 8.3 pips. These are his words and the figures are from the video screenshot plus his words.
Also from the video I was able to read, with these old bifocal-assisted eyes, that he opened at 1.4609 and set a SL at 1.4631. That's a SL of 22 pips, which as he said, included a bit for the spread.
A $60 per pip that 22-pip SL would require $1320 margin deposit.
If that $1320 is 2% of his account, then he would need to be running $66,000 account.
A look at the figures showed he risked 22 pips to make 8.3 pips.
I won't draw any conclusions from that, because I do not know the strike rate or average drawdown and so on. But the proof is in the pudding. The very best way for us to see the benefits of this
"Inside secret of the 3 phase strategy that revolutionised Forex Trading and kicks out money like a cash register!"
He goes on to say:
"You see, I believe that there is a great Forex hoax out there that is keeping guys like you and me from really making it big in the Forex world. I believe that too many snake oil salesmen and pumped up gurus have been peddling us lies for years.
Well, like it or not I am about to change that. I am about to reveal a simple to learn, easy to trade system that a complete newbie can learn in 25 minutes."
Now looking at what you get for USD$97 it would take a tad longer than 25 minutes for a complete newbie just to open the box and read through or view the Videos/DVD's. There is a great amount of educational material offered - impossible to read, set up and trade in 25 minutes, one would think.
In his post above - #66 BlackMonday says that he is going to go back and re-read the manual - hardly a 25 minutes setup for a newbie is it?
And to you, BlackMonday, I give you the highest credit I can for having the courage to post it as it happens - good on you. Honesty costs nothing - and as far as I am concerned, you are one trustworthy bloke.
Other things I noted from the advertisement at that link Jaystefan, are that other traders who did live trades for the page, were trading $20/pip on a $5000 account. Using a 20-pip SL that would equate to $400 risk or 8% of account. Depending on the strike rate and profit, runs of losses etc, thyat may or may not be too wise. I can't comment again.
Please do not take my scepticism too seriously - I do want to get to the bottom of these claims, and the only way is to take an honest look at the method, and post results as BlackMonday is doing. I highlighted inconsistencies in the promotion because it is bad form. telling newbies you can make $500 in a video, without disclosing he was trading $60 per pip, then showing an account where he traded 1 contract - well it is deceptive.
If they are deceptive in one thing - an important thing like profit - then the rest of the claims have to be examined as well.
I would much rather they promoted these things in terms of pips of profit, not dollars.
So far, BlackMonday retains 100% credibility with me, and 100% for having the courage to continue with his posting of live trades.
Can you please also do the same?
