Website : No longer available
Cost : $97
Author : Lee Campbell
Review Date : January/February 2010

WHAT IT SAYS ON THE WEBSITE

"Generates 698% Profit With Virtually No Risk ... Shocks Forex Elite ... And Forces So-Called 'Gurus' to Head For The Hills!" - Probably the most explosive headline for any system we have ever reviewed.

Lee Campbell is a "Renegade Forex 'Genius'" who uses Forex Mutant to "legally and ethically rob the Forex 'Gurus'". Lee later states, "I personally use this system to generate my income" and is now "giving hard-done by honest Joes the chance to strike back at the greedy con men who've wronged you with their deadly lies".

There are promises of being "privy to the inside workings of a financial conspiracy", discovering "how to hit these con artists 'below the belt'" and "effortlessly bleed them dry of massive amounts of cash". There is a "unique 'super weapon'" with which you can suck "cash directly out of the accounts of these so-called big shots".

A number of account statements and screen shots of winning trades demonstrate the power of Forex Mutant which "has the Forex 'gurus' shaking in their boots". Forex Mutant is "a powerful piece of software that generates buy/sell Forex signals with a 90%+ accuracy (laser-guided precision)", it is "ready to go 'out of the box' (a 3 click install)" and "ready to start making you money within just minutes of the download". It also works "with any and all currency pairs ... in all market conditions".

The "Low risk, high return - advanced 'stop loss' system ensures that even your bad trades let you walk away with barely a scratch ... ready to slingshot your income into orbit with your next trade".

The 8 week Clickbank guarantee is then emphasised as is the 500 (or 525 depending on which bit of the website you look at) copies limit on this system.

THE PURCHASE

Thinking it was straight forward we purchased this system for $97 via Clickbank. After completing the purchase, on the next screen, we were offered the 'Advanced' strategy for $47, we decided to go ahead.

Having now completed two purchases we were again offered "a system that I secretly use to make $10,000?s for the price of a couple of Starbuck's coffee". It was $27 but we decided we had enough material for now and declined this offer.

THE MATERIAL

A 5 page manual (3 if you exclude the cover page and the one page disclaimer) and an indicator are provided as part of the standard (Basic) purchase.

The installation page provides brief details of how to install the indicator, straight forward stuff for anyone with knowledge of Meta Trader 4 (MT4). Make note though, for those with no experience of MT4, "If you have any problems regarding how to install the indicator or regarding using Meta Trader in general, please contact their support or search online for free Meta Trader tutorials and instructions". The final part of the installation instructs "Open any currency chart - 15M, 30M, 1H or 4H".

The other two pages tell you that "If there is a trade signal, you should see a popup window with trading instructions (Buy - Profit - Stop)". It also informs you that "You can turn off/on or change the default Take profit, and Stop loss value from the indicator's settings". And that's about it other than a final message of "Happy Trading".

The 'Advanced' manual is a 12 page document that comes with 6 MT4 indicators and a template. The introduction to the Advanced system provides some back-ground on how the system can be used in any market condition ("it takes advantage of all price action"). There is also some advice on Money management as well as Stops and Targets.

The installation process for MT4 is clearly defined, put the 6 indicators and template in the appropriate folders, restart MT4 and then select any currency, any time-frame above 15M (1 hour is recommended) and then apply the Forex Mutant MT4 template.

The 6 indicators are, Trend bars, Trend line, Signals, Market hours, Targets and Market info. The Trend bars & lines determine direction of the trade with the Signal providing the signal to enter, (it also defines the Stop level). Previous levels of Support & Resistance and the Targets indicator are used for Targets.

Two examples are then provided as well as a one page Conclusion.

Bonus Material. There was supposed to be 6 bonuses but we had to make do with 5 as the first one "Ten Days of Profit Boosting One-on-One Phone Coaching With The Master Traders Who Created Forex Mutant ($997 value)" had already lapsed, we assume we were number eleven or later.

The other bonuses were aplenty, 2 bonus indicators, 4 bonus systems/guides in the form of PDF's and a 'newly' added bonus folder. This folder contained some 'Forex Slasher Robot' and a Price Movement Forex System. The latter was the only document we opened, it starts, "Dear Forex Friend".

THE SYSTEM IN THEORY

We can actually split these two systems into separate entities, the Basic and the Advanced because, from what we could work out the two were not designed to be used in conjunction with each other.

Set up (MT4) for the Basic system is easy, one indicator, load any currency on any timeframe above 15M. Entry, Stop and Targets are all 100% mechanical, one just has to react to the pop-up windows generated by the indicator.

Setting up MT4 for the Advanced system is also quite straight forward, 2 minutes for those with experience of the platform. Entry is 100% mechanical based on the Trend bars & lines and the Buy/Sell Signal. Stop is 100% mechanical as it is the value of the Buy/Sell Signal. The only discretionary aspect is the Target where one's own judgement of previous levels of Support & Resistance are called upon.

THE SYSTEM IN PRACTICE

Again, we will address the Basic and Advanced systems separately. We chose to look at GBP/USD and EUR/USD on the 1 hour time frame for both systems.

Basic. There are no trading rules for this system other than to follow the information, provided by the indicator, in the pop-up window. So, we observed this indicator for a few days and made trading notes before deciding whether to trade on a small account or not. When the pop-up indicator, on numerous occasions, came up with a Stop loss above the Entry price and a Target below (for a Long trade) and vice versa for a Short trade we simply walked away.

With little confidence we were observing the "Advanced" strategy at the same time. This time after experiencing multiple instances of repainting, in particular with the Signal and Trend bar indicators we went no further.

CAN IT WORK

There is little possibility that we will ever be able to answer this question as we are quite confident we will not be spending any more time with either system, ever!

SUPPORT

We didn't have any reason to contact support so cannot comment.

CONCLUSION

PRO's
- Can't actually think of any.
CON's
- We hated the sales process from the start.
- Poorly written manuals.
- Basic indicator provides untradeable information.
- Frequent repainting of the Advanced indicators rendered them unreliable and thus, in our opinion, unusable.


Do remember, your comments are important, if you have any experience of this system your views are useful to us and others.

ReviewTeam - www.systemsfortraders.com