Website: 5 EMA's Forex System Website
Cost : $97
Author : Adam Burgoyne (& Oleg But)
Review Date : June 2009

WHAT IT SAYS ON THE WEBSITE

Headlining with "Enough Of Theoretical Forex Trading Systems That Only Work On Paper!", "Finally, a time-tested Forex trading system with documented proof!", "a system that has the potential to turn $1,000 into $1,000,000 in just 24 months".

There is a link to a statement (from over 3 years ago we note) showing $5,000 growing to almost $40,000 in 34 weeks of live trading. Then follows another from over 2 years ago showing a $20,000+ return in just 11 days. Later on there are no fewer than 6 other statements and testimonials available for viewing, all showing fantastic returns and providing excellent feedback.

The system uses "an incredibly accurate formula (developed by a professional Forex trader & Fund manager", is "easy to implement" and can be used "just one day after reading the course". It's "perfect for people who don't have time to monitor the markets constantly" and the rules "take away all the guessing and vagueness common to many other trading systems".

Monthly returns are generally "between 30% and 50%" and a couple of trade examples are used to provided to demonstrate the potential of the system.

A custom alert indicator (for use with Meta Trader 4) and a 5 EMA's Advanced Module is also included as is a 60 day Money back guarantee.

THE PURCHASE

$97 via Clickbank.

THE MATERIAL

A whopping 147 page manual, wow!

Well, we dived in and got down to the bones of this system, eventually. It is not in fact based on 5 EMA's but on no less than 6 different indicators across two different time frames, 1 Hour and then 15 minutes for an entry.

The material in the rest of the manual, not focused on the system and example, may well be of use and interest to many new to trading Forex, as its quite detailed to say the least.

We didn't delve into the "Advanced" module of the system, happily convinced that this one was going to be enough of a challenge without advancing any further at present.

THE SYSTEM IN THEORY

Set up is relatively straight forward as templates (for Meta Trader 4) are provided.

And, as mentioned above it's a MTF (Multiple Time Frame) type of system, well, there are two time-frames involved.

We tried as best we could to decipher this system and somehow do some back-testing before getting involved in any form of live trading.

However, this was our downfall. There were just too many indicators, too many rules, just far too much going on for us to consider taking this system any further.

We are very keen on minimal chart clutter and simple, precise trading practices, this just did not suit our style at all.

THE SYSTEM IN PRACTICE

We cannot comment on how this system performs in practice as we never got that far.

CAN IT WORK

Possibly, if indicators and a complicated and detailed rule base is your forte. It is not for us so, again, we cannot really comment on whether or not it can work.

SUPPORT

We had no reason to contact support so cannot comment.

CONCLUSION

PRO's
- Detailed and precise entry criteria.
- Quite mechanical.
CON's
- Way way too complicated for our more simplistic approach to trading.


Do remember, your comments are important, if you decide to purchase this system, please support us by using our link and by reporting back your findings, both are valuable to us and the service.

ReviewTeam - www.systemsfortraders.com

Couldn?t agree more. I bought this system a few months ago - but found it way way too complicated for me too, far far too many indicators, so I didn?t even trade the system.

If I trade I want to be able to understand what I am doing. I did however receive my money back via Clickbank though so I didn?t lose anything.

It would be interesting to hear from someone who has actually applied this system and also how they got on.


ReviewTeam - www.systemsfortraders.com

I too can add a quick note on this system - far too over the top, I never used it and asked for a refund within about 2 hours of purchase, Clickbank obliged within 24 hours.

T

I purchased it directly from the vendor, although it was a somewhat involved process in setting it all up, even more time to get the hang of it and I've been trading 12 years so newbies will have a bit of trouble IMO.

I had limited success with it mainly because of the amount of time waiting on signals and confirmation.

I was also testing another intraday system at the time that was a lot more simple to use, ProFx, and stuck with that.

To trade with Moving averages requires some training and is not so easy as many think.

Also not so easy as the vendor from the 5 EMA system claims on the website. But used correct Moving averages are very good for trading.

I don't use the 5 EMA system very often (only during trending market conditions) but I make good profits with it.

Does anyone have the email address of the vendor of this product. I tried Sales@5EMAs-Forex-Trading-System.com but he did not reply
(I purchased the product a few years back and would like to use it again but my download link does not work).

Thanks in advance

Keith

Hi,

We never contacted support and just had a quick scan of the website for you but found no contact information at all except for privacy@ ... However, it does state that only questions related to the Privacy policy will be answered.

It is such a shame that not all vendors can be openly contacted !


ReviewTeam - www.systemsfortraders.com

Hello

I wanted to let you know that I did (today) hear back from the vendor (Adam)

He is planning to release an updated version (with auto-trading capabilities).....it will be available to existing owners of the system, at a reduced rate.
I am not a fan of autotrading, but I may consider getting the new system to give it a whirl (not sure...as I really do not like auto trading)...but if I do.....I will let you folks know.

Keith

Hi Keith,

Update much appreciated - As you are aware, we never touch Auto-trading systems, just our choice, but in this instance we hope you get time to report back should you proceed.


ReviewTeam - www.systemsfortraders.com