5Minute FOREX system. anyone knows if is good?

[DJ2005]

hello everyone,
I'm a newbie and I was looking for some system/service

I step into this 5Minute FOREX at
(NB: I deleted the url, so that no one get upset, ok? )

anyone tried this program? (or the following and EZ Trade FOREX?)
sounds pretty easy and looks like it could be profitable... or is just hype?

I would appreciate your feedback
thx

DJ

 

[watsone]

5min forex

hi dj,
i purchased the 5 min forex system late last year,however i understand it did not perform too well during 2004,as a result of this beau diamond the system originator is at present working on a new system expected out this week or next,beau i understand is not trading himself with the old 5 min forex system,anyone who subscribes to the old system will get the update free.
i have heard very good reports of the daytrading ez system which i intend to purchase shortly.
hope this helps dj
regards edward

 

[trendie]

interesting....

one new T2W member, asking a question about a product that sells for $197.

and, another new member arrives, who just happens to have the system, and is very upbeat about it.

this system, by the way, makes money with just "5 minutes a day" work.

call me cynical, but, I wonder if the IP addresses of these two members are the same.

hmmmmm...

 

[triax]

But trendie, it must have escaped your attention that one of the posters is in bridegwater somerset, whereas the other is in "milano", so they clearly cannot in any way be related.

beau diamond the system originator

That's a brilliant name. Is he a porn star in his spare time?

 

[watsone]

5 min forex

hello evryone,
I'm a newbe and I was looking for some system/service

I step into this 5Minute FOREX at
url deleted by mod

anyone tried this program? (or the following and EZ Trade FOREX?)
sounds pretty easy and looks like it could be profitable... or is just hype?

I would appreciate your feedback
thx

DJ i suggest you look up both systems on firedave's excellent www.fx-review.com website or any other system or signal provider for that matter.
regards edward

 

[trendie]

But trendie, it must have escaped your attention that one of the posters is in bridegwater somerset, whereas the other is in "milano", so they clearly cannot in any way be related.

( smacks head in realisation ) Of course, how could I have been so dumb !!
Since, you are in "the spare room", which is just up the road from milano, could you be a dear, and have a word with this guy ?
( unless you are from "the spare room", Galapagos.

That's a brilliant name. Is he a porn star in his spare time?

Probably is.
Porno, Selling systems. Either way, he gets to do the screwing

 

[DJ2005]

Hi
that's me DJ.

I have nothing to do with the guy that replayed to me, Triax.

I saw the review at fx-review of both systems and that's why I ask for confirmation.

I do understand that someone can play games to get referrals or similar, but that's not the case.

Yes, I'm italian e se vuo te lo posso dimostrare tranquillamente.

so, my question, as a newbe, is: does a system that needs 5 minutes a day work or not?

thx
DJ

 

[FetteredChinos]

guys, from what i have heard, this system is actually rather good..

unfortunately it is all a bit of a con though. correct me if i am wrong, but not only do you have to pay for the system, you also have to pay a monthly subscription in order to access the levels which are vital to trade this method.

also it is a longer term system (several weeks etc) which mounts up to a lot of subscription fees.

just my 5 euros.

FC

 

[Roberto]

I've also seen glowing reports of it. But yes, I gather you have to pay $25 per month for some piece of information which is part of the formula and is calculated on a daily basis, which means you remain dependent on the author even after buying the thing from him. Mind you, to see what people in other forums say after they've bought it, this seems to cause surprisingly little dissatisfaction, and he certainly seems to have a reputation as being one of the "good guys" in a dodgy industry. It seems people do rather well with his "5-minute system".

 

[DJ2005]

hi dj,
i purchased the 5 min forex system late last year,however i understand it did not perform too well during 2004,...

Hi Watsone,
by not performing well in 2004 means that you actually lost money?
would you mind to share the kind of performance you had with the 5min. system?

thx.
ciao
DJ

PS: Does anyone has any other suggestion for system/signal to use for starting out without losing $$, but hopefully making it? (or this is just a dream?) :cheesy:

 

[FetteredChinos]

PS: Does anyone has any other suggestion for system/signal to use for starting out without losing $$, but hopefully making it? (or this is just a dream?) :cheesy:

buy GBP/USD with a 10,000 point stop.


hold for 2-3 years at least. then close your position.

should be in the money by then.

 

[Roberto]

PS: Does anyone has any other suggestion for system/signal to use for starting out without losing $$, but hopefully making it? (or this is just a dream?)

That's what everyone wants to know, of course.

The problem with using someone else's system is that you're dependent on them and probably not learning much.

Also, people on internet forums tend to be so strongly negative and cynical about any "commerically available system" that it's virtually impossible to get hold of any reliable information about what might actually work, because people who offer favourable reports about anything tend to get instantly shot down in flames, I'm afraid, by others with very strong opinions (often based on absolutely nothing). It's just one of the less pleasant aspects that one has to accept.

However, since I've been shot down in flames so many times that I'm almost immune to it I'll tell you that I believe there are currently two "signalling services" that are consistently profitable. One is called Fxmaster, and there's a thread on this site devoted to it. As you'll see from their website, they claim an average of 600+ pips profit per month over the last 14 months with never a losing month but with a couple of 500-pip drawdowns. Several of their subscribers are also long-standing and genuine members here (and at other forums), and as far as I'm aware nobody's ever said that their claimed results are untrue or even exaggerated. In other words, this is all second-hand information, but there's a lot of it.

http://www.trade2win.com/boards/showthread.php?t=12594&highlight=fxmaster

There's also another service called Epiphany about which I have less information (except I know two of the subscribers and can therefore find out more if you want). It's much longer established, more consistent and more profitable than Fxmaster but not nearly so well known.

But BEWARE: even an honest, reliable service that has had a couple of years without a losing month and without a huge drawdown can easily have the first Major Problem right after you join. It's happened before and it can happen again. The celebrated "SIBKIS" system (not a signalling service) discussed on another site, had a tremendously profitable 2004, but a heavily losing 2003 and 2002, I'm told. Things can change. And they can change just when you've got your money on the line. "You have been warned."

 

[G-Man]

buy GBP/USD with a 10,000 point stop.


hold for 2-3 years at least. then close your position.

should be in the money by then.

I like this idea FC. Any idea on the drawdown for this strat?

G-Man

 

[adrianallen99]

I guess the max drawdown is 10,000 pips

Personally I would prefer sell GBP/USD with a 10,000 point stop.

 

[DJ2005]

That's what everyone wants to know, of course.
One is called Fxmaster, and there's a thread on this site devoted to it.
..
There's also another service called Epiphany about which I have less information (except I know two of the subscribers and can therefore find out more if you want). It's much longer established, more consistent and more profitable than Fxmaster but not nearly so well known.

Yes, thx, I would like to know more about Epiphany.

From the thread you mention, also FXMAX looks liek a good one. any comment?
---------
So can anyone compare FxMAX with FxMaster first hand? FxMaster claim to be up over 8000 pips in 2004 so FxMAX's 1000 pips seems a bit low.
----------

dj

 

[Dave1971]

I am a current subscriber to fxmaster, but would also like to know more about epiphany. Any info would be much appreciated.

Thanks

Dave

 

[Roberto]

FxMaster claim to be up over 8000 pips in 2004 so FxMAX's 1000 pips seems a bit low.

Exactly what I thought, also.

I am a current subscriber to fxmaster, but would also like to know more about epiphany. Any info would be much appreciated.

It's not exactly a "signal-provider" in the conventional sense. It's just a small, private asset management company of some sort, where they simply release "news" of their own trades in email format after making them. But apparently people use these exactly as a signal service. I know a couple of subscribers both of whom say they haven't had serious drawdowns and have consistently made between 500 and 1000 pips per month from following them.

I'm just waiting for someone to send me the url, which I have so far failed to find!

 

[Oldun]

Of course it's no good. Remember the Forex market is the largest and most liquid in the world. There is no difficulty in opening or closing positions. If it was any good the vendors would simply spend 5 minutes per day working out the positions and, perhaps, another 5 making their trades. They would be billionaires in no time at all, all for 10+ minutes per day.

Why on earth would they want to flog it to you for a few measley $$?

 

[Dave1971]

I'm just waiting for someone to send me the url, which I have so far failed to find!

Any luck with that url Roberto ? Had no response from the e-mail address you kindly PM'd me.

Thanks

Dave

 

[Roberto]

Any luck with that url Roberto?

Alas, no - sorry. My understanding is that they used to have a website but have either taken it down or are in the process of changing it. At one time they were not accepting any new clients at all for the "signal service" because they didn't need the money and couldn't really be bothered (which does make sense, arguably, in a way, given how well they were reportedly doing by trading their clients' funds on commission) but I think a new manager is re-thinking this position.

Anyway, I've had a reply from the guy saying (more or less) "Not right now but we'll keep your name and email address and get back to you as soon as we're ready".

Please let us know here whether you hear from them, anyway, even it's just a short email saying the same that they said to me. For me, enquiry emails going unanswered rings some alarm-bells; I'm sure you can understand?

By the way, this service has apparently been reviewed now on Firedave's website at www.fx-review.com

By the way, the 2 current subscribers I know are claiming respectively 886 pips and 887 pips profit for the month of January, with one position (in profit) still left open.

(What's the end-of-month score with FxMaster, by the way?)

Thanks ...

Roberto