i like the money management part of his ebook (revised) but having a hard time with the codex. I understand it (i think) but i feel very uncomfortable going below 1hr TF... oh well, guess i need to back test it more...
Forex Confidante contains the principles set out in the Mouteki system found elsewhere on this site. Some fib ratios were added, but the principle is exactly the same. So who was first with the idea?
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Joined Sep 2009
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Status: Price Action
|463 Posts
Hi everyone...and Tom if your listening still.
I tried out the service myself for 2 weeks and did find a lot of useful tips on the webinars relating to Pivots, levels & targets. The guy that does the webinars in fairness does go over why he would or wouldnt take a trade, but that is easy when the trades have already been and gone....I dont know if Tom does any live sessions explaining his system and shows the reasons he takes trades, but that would be nice if he did.
Personally I didnt go ahead with the signal service because I dont like the fact of paying a monthly subscription service of any sort for signals. I like to fully understand the method and pay for it once and thats it. I found if you just took every signal many of the signals hit there stops, so to someone inexperienced they would be confused why that is....especially as your paying for all of these signals you expect them to give profits.
The other off putting thing I found was the marketing on the site, like for instance when you try to leave you get a string of "pop ups" enticing you to free offers etc....that really threw up a massive "DANGER SIGN" for me.
However I did learn some stuff from the webinars and if it was a one off payment and all was revealed about the system and you didnt have to rely on someone telling you when to place a trade it may have interested me more than it did.
If anyone is making proper money from this system it would be interesting to hear from you. I get many emails from Tom's website all the time and I like to go back an have peak at whats going on, but for me personally still, for the reasons given above, I have not been convinced as yet.
This book is very disappointing. It is clearly written by someone who wants to earn a buck from the internet from you. probably a dismissed trader.
I bought the course and the videos, but never got to see the videos. Numerous emails did not help and were not responded, which gives me the impression, that the whole thing is only a selling scam.
Also, In the book, he brags about millions in trades, he makes.
Well, I can tell you, this just is not the real world for small traders, who buy this book.
Stay far away from it is my advice.
Many and much better trading systems can be found here on the forum.
This book is very disappointing. It is clearly written by someone who wants to earn a buck from the internet from you. probably a dismissed trader.
I bought the course and the videos, but never got to see the videos. Numerous emails did not help and were not responded, which gives me the impression, that the whole thing is only a selling scam.
Also, In the book, he brags about millions in trades, he makes.
Well, I can tell you, this just is not the real world for small traders, who buy this book.
Stay far away from it is my advice.
Many and much...
Ignored
Reviewed by Forex army seem to rate high for this. I just saw video by Tom mentioning that he is working with NASA's programmer to create an EA for his members. I am not sure how much is the membership or anyone has any trading record using this system, but just following what I read from the book, TRN seem to be the area to consolidate before reverse or continue. So, perhaps, there are something more to this.
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Joined Sep 2009
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Status: Price Action
|463 Posts
Interesting comments......I am on no personal "witch hunt" with any of Tom's stuff, as previously stated I learnt a lot from his trading webinars, but several things have concerned me lately.
I get a lot of emails on a daily basis from a wide range of so called system designers...its the same ones all the time just going round in a loop releasing a system about once a month..which in itself is worrying and makes you wonder about the validity of some of them.
Anyway what concerned me was that an increasing number of these "mailshot" type marketing emails, that all say exactly the same thing, word for word, where now coming from Tom as well, its like hes joined there group so to speak.
I've always thought if your system was so great you would be concentrating on trading it yourself and making so much money you wouldnt have either the time or energy to waste time marketing it. I have rarely seen any of the really successful traders release any information about there systems until they have at least "cleaned up" with it and made there fortune.
