Singing Pig

hi there

i have recently become interested in learning more about forex/trading  and when sharing this with a friend he raved on about a course he has just bought from somebody called AndyX from streetwise publications. (I am sure like Peter Parfitt there is no such person)  This  is priced at £2000++  this seems very steep to me to pay for any course.  I was just wondering if any of you guys know anything about this course or the mysterious Andy X.

katpoo

I have looked at this Andy X's website and what he offers on there is 10 CD's and an easy ride in the Forex markets. I know someone who purchased these CD's and once you do you then get access to another website which is your back office. He gave me permission to access certain parts of his site and while very interesting it totally contradicts the initial claim on the Streetwise website. The total viewing time of these Cd's is 12+ hours and covers a wide range of activities and disciplines. Included in the £2000+ value is very basic material regarding trading strategies and actual trading examples from Andy himself. I personally do not believe it offers value for money as after all the hullaballoo you are expected to manage your own trades and decide your own entry and exit points. Quite how he guarantees £200.00 a day is beyond me because once you've paid you have an awful lot of learning and he does not guide you one iota as it claims. Also he only ever trades one currency pair which is GBP/USD.

Doddsy,

 

Have u seen all 12 CD's from Andy X?  Also u say he doesn't help u one iota - i thought u can view his trades 'live' everynight and talk to him on the phone.  Can u confirm he does not do ths as claimed.

If what he claims is untrue then why is he being so open?  Say u buy the CD's on Credit Card - view them - follow his trades for a week and paper trade - if it works then all good - if it doesn't then return it for a full refund before your credit card bill comes through.  Then all u risk losing is the postage to send it back.

Any comments appreciated..

Baal

If you look at the website it implies that you will only need to spend 20 mins each evening in order to trade the FX markets. But how can you trade the markets in the evening? I use a UK spread trading account which closes at 9.00pm on day trades I NEVER leave a trade overnight. He encourages trades on GBP/USD during UK opening from 7.00 am in the morning. Quite how you follow his trades at night seems impossible to me. Also he promises £200.00 a day which is quite fantastic as he claims you only need £400.00 starting bank. With Capital Spreads they would allow a maximum of £4.00 a pip which means you need to get 50 pips on your first real trade. From what I know and have seen he covers in depth various strategies including pivot points,moving averages and Fib lines to name but a few. His training is very good but my main concern is it contradicts totally what it says on the website I looked at. Many people would love the idea of a "no lose" system but there is not one out there and the disclaimers are watertight. For anybody to simply say enter a trade at price X and entry at price Y and hey presto you have 40/50 pips a day would not need to sell it to anyone.

Katpoo,

As you have a friend that has bought this system, have they used it yet, if so, have they made any money?

Doddsy,

If you also know someone who has this system, have they made any money from it?  If not, they can get a refund surely.

I have also been looking at this, so am interested in any info. anyone has about it.

Thanks

The people I know using this method are in a negative bank balance since starting with this course!

Do your own home-work, be prepared to 'practice-trade' for at the very least 3 months, have money to lose (only the very best get it right 80% of the time), read as much as possible about the phsycology of trading, the different methods of trading strategy,  forex 'speak',  work out your own personal trading strategy (you can only do this after months of practice trading), work within your own comfort zone.   Some might be happy losing £1000 others might commit suicide. 

Just when you think you have it all sussed be prepared to realise the 'more' you have learnt the 'less' you actually know!

If you are a novice, don't touch this course, it does have some useful info but only if you have some knowledge, that is why the two I know are making no money at it.  Their loss - around - £500 in a week.   Want to join them?  easy, just jump in, think you are more clever than all the books and advice out there, keep thinking the next trade will turn it around for you and when your bank balance is nil, wonder why....

There are 'enormous' amounts of money to be earned and also 'enormous' amounts to be lost!  'Enormous' amounts of hard work and study need to be done to avoid the pit-falls and then some will still fail!

Put 'forex' into google, there is loads of FREE info out there to start you off.

 

Very sensible advice. Andy X's whole empahasis is Technical analysis,some of it very complicated for a novice trader. The markets like God move in mysterious ways and somedays even the "experts" get it hopelessly wrong. I am sure people wiull be asking for their money back but two grand is a lot to shell out and then you would need to have more funds for a live account.

Mandella HouseBand:

Do your own home-work, be prepared to 'practice-trade' for at the very least 3 months, have money to lose (only the very best get it right 80% of the time).

Not true, nice way to lose all credibility though.