This system is excellent. Win percentage is outstanding and dd on most trades is nonexistent. The developer stays consistent with 2 mlots so that subscribers can multiply their mlots appropriately. The system trades 2 mlots and makes average win of $39...Trade 20 mlots in your account and you'll be seeing the same $390/trade that I've been seeing. By far THE BEST system on C2.
Based on the historical data, this system has been going pretty good up until now. The average trade is about 7-8 per month and average profit is $40. The losses are so huge that it will take about a month or even more to earn back the profit. The risk reward ratio does not seem so rewarding... Might this be the end of this system?
One trade wipes out the prior 16 months of profits ($489 when you consider typical fees of $1/minilot and the $150/month subscription fee). Most autotraders were trading more than 100% so the subscription fee would be less significant for them but even any of those who started trading this system recently are probably hurting.
I'm surprised that for a short term trading system, the trader wasn't paying attention to what was going on in the currency markets. Nor did the developer put a stop loss until more than 3.5% was lost in the matter of hours. I wish the trader would have cut his loses as soon as he noticed that he was on the wrong side. He should either put more aggessive stop losses or get out of the trade early by being on top of things. One trade shouldn't wipe out gains from last 10+ in a matter of a hours. On the positive note, his overall performance still looks good but I hope he revises his strategy based on this experience so he can continue delivering superior trading system.
Forex Special’s record speaks for itself. As of 5/6/11, there were 6 losses (the 3/28/11 loss was due to a C2 error) out of 134 trades for a ~94% success rate. Of those 6 losses, the AVG draw down (dd) was 1.22% as a % of system equity. Historically, 8 trades had dd of 6% or more and the largest dd was 12%. ALL were eventually winners. The system developer has advised me that his current risk level is about 6%. The current (5/3/11) trade dd is ~4%, which is perfectly acceptable. In using terms such as “time bomb†and “blown out,†the recent negative reviewer demonstrates his failure to manage risk, with no one to blame but himself. The developer communicates promptly and clearly to subscribers, and has been most helpful and patient in his communications to me personally.
This system is a time bomb that just went off. Achieves many small gains by not adhearing to a reasonable stop loss. This works for awhile until the major trend changes then subcribers get thier accounts blown out. Sends a notice to subscribers ..I don't want to take a loss on this trade ..do what you feel is best .
There has been a lot of good press lately about Forex Special and rightly so. The stats are impressive. When you take the time to sit down and look at them closely, and scale the system to your account, a nice steady profit is clearly possible. However, I would urge everyone to understand that the system has had multiple occasions of $600+ drawdown - and that is with the standard 2 minilots. This would be $600 * your minilot scaling. Although a $600+ drawdown has not happend in quite some time I scale my account to that figure just in case. I love the system.
What an excellent system! Forex Special has given me consistent profits so far and the communication from the developer has been superb. I HIGHLY recommend it. You can scale the account to your needs to realize bigger gains and I will be increasing my number of mini lots again very shortly to take advantage of the amazing track record I have been observing over the last two months. The developer averages around 8 trades a month under normal circumstances but of course, that number can vary. Depending on market conditions, the trade durations range from 24 hour holdings or longer to lightning fast trades of only a few minutes. Forex Special gets 5 Stars from me for sure!
I have looked at and traded systems for the past 5 years and Forex Special is the best one I have found by far I dont know why anyone would trade anything else Thank you Forex Special as I plan to include this in my retirement plan
Its a low risk, consistently profitable system so far. One needs to increase number of lots base on his or her account size. It could have traded few more times per week since it only scalps a little each time. .
System manager is a genuinely nice guy and seems very competent. Actually suggested that I sign up after Christmas due to a slow down in trading - a sure sign that he is a professional not just out to try and skim a few dollars from a person. Unfortunately didn't get a chance to trade any signals as it is not a daily occurrence and in hind sight a poor time of year to have had my trial but if you trust the C2 trade history then this appears to be a decent system