Our turn to apologise, we have corrected the figures and wording at the end of the figures in the original review. The % gain per month is based on the bank at the end of the previous month, thus the gain at the end of the period is now based on the original bank (at the beginning of the year).

We apologise once more for this error, although not significant we realise we confused the matter.

Originally Posted by sarniacherie

I believe that they are allowed to alert you to the trades that they are taking, and if you want take the same trades that's up to you, but not allowed to recommend trades without FSA authorisation. So sayeth Mr 'e-yield'.

It is a grey area and there are different levels of authorisation - newspaper editors for example can give share tips like the Telegraphs Questor column because that information is obviously going out to thousands of people and can't be deemed individual advise. However, if you are operating a tipping service a) people are paying for it b) you are giving it to a limited audience so it is in danger of being seen as specialist advice so should be authorised.

You could argue the toss, but if the FSA bother to investigate (which they won't for most 2 bit websites), there is no doubting they would construe most tipping services as needing to be authorised.

I used the Forex Trade Alert system last year. in 3 months there were seven trades six of which lost money and one made money. Net result: down about 1000 pips. I wrote several emails to Mr Tragett none of which did he reply to. Most of his time is spent telling his subscribers what is happening in the markets but this information is freely available.

When will people learn that in the short term currency markets are stochastic (random) and you cannot make money. Your expected gain is a loss equal to the spread. Any gains are wholly fortuitous. Whether you can make money with long-term trades I'm not sure, but daily trades, forget-it. The way to make money is by peddling systems not trading.

It seems that "Forex Veteran" Tom Tragett, or however he is touted by his publishers, might be better described as "Yesterday's Man"? Unless he is simply suffering from the curse that seems to affect so many of the systems and services offered by the Two Large Publishers of Such Opportunities, namely the spectacular track records of said systems or services appear to begin to fail miserably once these are on general release to the public?

It is likely "you cannot make money" sourcing your trading system this way, but as a generalisation?

I have followed this for two years . I fully agree with all the comments - Tom's daily stuff is too much ( he analyses things to death ) and available elsewhere - his trades are few and far between and the performance is pretty poor - nowhere near the figures advertised .