There has been quite a stir going around at present about the launch of the new FX Friday Forex trading system. So what’s it all about?
FX Friday by Lee Moore is a new system that enables you to claim a weekly payout from the Forex markets. As the name suggests the system is a Forex trading system where you are only required to trade once on a Friday. The central theme behind the system is that Lee’s ‘boring spreadsheet’ can be used for 10 minutes every Friday evening to generate you a tax free payout from the Forex markets.
FX Friday Product Details
Product: FX Friday
Cost: £197.00
What You Receive:
- FX Friday Spreadsheet
- FX Friday Comprehensive step-by-step-guide
- FX Friday Weekly Update Emails
Where to buy: http://www.fsponline-recommends.co.uk/fxfvl?L970L803
Guarantee: 60 Day Money Back Guarantee
What’s Behind the FX Friday System?
The Forex markets can be difficult to begin in and the purpose behind the system has been to make it both easy and accessible to everyone regardless of their experience of Forex trading.
FX Friday trades a range of Forex pairs by using Fixed Odds bets. Fixed Odds is a slightly different way of trading compared to normal Forex trading in that you actually stake a fixed amount in order to win a fixed payout. Being a regular user of BetOnMarkets who are the leaders in fixed odds bets I must say that it is a very easy way to start trading and potentially very lucrative.
The system trades on a Friday evening anytime after 6pm. It is based on weekly charts and uses the high and low of the previous weekly candle to identify trading opportunities. It then compares this to the amount the market has moved in relation to its average weekly range before determining if a trading opportunity exists.
A fixed odds ‘No Touch’ bet (predicting the market will not touch the given level) is then placed with BetOnMarkets to run for 7 days. At the end of the bet timeframe you claim your payout.
How to Use FX Friday
The central component of the system is a spreadsheet. This is used to input weekly data from your Forex charts. There is no problem if you don’t currently have a preferred charting package as links to some free charts you can use are provided in the manual.
After adding a couple of indicators to the recommended charts, which takes about 30 seconds, you are then ready to input the required data for the individual currency pairs into your spreadsheet. Again this is quick and simple task taking less than 5 minutes work. From the figures entered the spreadsheet then calculates whether a potential trading opportunity exists.
The next step is to validate any potential trades against the upcoming economic data releases for the coming week. Full rules on upcoming news to look out for, money management and hints and tips on what and when to trade are fully explained in the manual.
For trades that make it through this validation the final step is to check to see the odds being offered fro the trade on BetOnMarkets. The system suggests only placing trades when offered a +30% or more return. Of course you can place for any return but the idea here is that this will give the best risk versus reward. If you can’t get the required odds to trade on a Friday evening then Lee suggests that you look again on Monday morning before 10:00am. If you place on a Monday morning however you should only run the trade for 4 days rather than 7. This is so all trades placed expire on the following Friday.
Initial FX Friday Verdict
Having traded Fixed Odds previously I really like the idea of this system. The principle behind the use of weekly candles and the high lows seems to provide sound trading logic. Also having done a quick back test of the strategy it seems to hold up technically. What can’t of course be determined is whether it would have been possible to get sufficient odds on each of these trades.
Having had a quick play with the spreadsheet and having used various fixed odds strategies previously I don’t think this will be a prolific trading system in terms of the number of trades offered. However the fact that it only takes 10 minutes to do on a Friday is hardly time consuming. So even only a couple of trades per month would provide an excellent return on investment.
Feedback from the Beta testers also looks good:
“The plan is easy to follow and, so far, has a high success rate. Actually it’s been 100% so far.” – Ian M., Beta Tester
“So far I’ve not had a losing week out of 9 weeks. Superb.” – J. Walsh, Beta Tester
“So far this system has been wonderfully good. I attach my spreadsheet showing that out of only 7 trades all have been successful…” – S. Fry, Beta Tester
FX Friday
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