Website : Day Trade Forex (Breakout Simple System) Website
Publisher : Cynthia
Cost : $57.00 with no refund (as it usually costs $297)
Review Date : April 2011

WHAT IT SAYS ON THE WEBSITE

This is a review of the Easy Forex Breakout Trend Trading Simple System which is based on the original Easy Forex Colour Coded Trend Manual Trading System. The latter is also available on the Day Trade Forex website.

Cynthia is the person behind the “New & Hot” Easy Forex Breakout Trend Trading Simple System. The system is “simple” and uses a “special volatility window that gives you buy and sell triggers based on the force of price action”. “It works on all time-frames and performs extremely well with very few whipsaw trades”. Trades are entered based on “two volatility indicators that coincide perfectly with other colour co-ordinated indicators”. Exit is also based on a colour signal.

The easy to spot breakouts can be traded on any timeframe across multiple currency pairs using a conservative or aggressive entry style. “Lots of videos explain the strategies and indicators”.

There are 6 videos on the website. Mentioned in these videos are the terms; Red dot, Hot pink dot, Green candle, Aqua dot, Lines crossed, Major trend line, Can enter here if you’re brave, Blue dot, Volatility up to dashed line, Break out of congestion box, Purple candle, Maybe I would have taken this, Bonus indicators,

All colour co-ordinated indicators (MT4) are provided including templates (MT4).

Cynthia knows she ”could charge $2,000 for this trading system” but it’s yours for only $57 (down from $297) if you agree not to ask for your money back.

THE MATERIAL

A 32 page manual is provided with this system.

The system is explained by videos in combination with the manual, including where to get your indicators (plus the two bonus ones provided) and how to install them. How to set your chart up across the recommended currencies (EURUSD, GBPUSD & EURJPY) across the 3 different timeframes (4 hour, 1 hour, 15 minute) is well explained.

Although the manual is concise, at 32 pages, it includes links to a staggering 15 different (affiliated) entities which include Brokers, Trade management software, Self improvement mental training and other Trading systems.

THE SYSTEM

We set up our charts as defined above, set up was easy. However, this is what our Trading window looked like on our 26 inch LED screen (screen size not mentioned for any other reason than to demonstrate this is not taken from a laptop screen or similar):

Cynthia Screen Shot.jpg

We then continued with the rest of the manual including the videos. We did install the bonus indicators, not shown above as it really is impossible to read.

Our exercise to put this system down into a 1 pager to share across those members of the ReviewTeam involved in this review was a futile one. There was just too much going on. There are too many dots, too many indicators (the two bonus indicators complicate things further), too many options, in particular for entry and exit.

We did eventually end up with a rule base of sorts that had 7 Entry criteria and a Stop/Exit strategy we were almost happy with. However, together with a pretty illegible trading screen, it was simply just too much for us.

We felt a review, even on our extensive rule base would have been of no use to anyone, including providing us with any kind of credibility.

CAN IT WORK

Obviously, when we were compiling our rule base we were observing the charts but we took no trades – It would not be prudent for us to comment on whether this system can work or not. Suffice to say, those that do make it work, we salute you on your dedication and your HUGE trading screen.

This does appear to be more of a marketing exercise than a viable trading system with reference to no less than 15 other (affiliated) products in the manual.

SUPPORT

We had little reason to contact support but when we did the response was prompt and responses were complete and useful.

CONCLUSION

PROs
• Easy to set up (physically).

CONs
• Way too complicated.
• Too much of a marketing feel to the whole thing.


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.

Thanks for this one RT. I know we often complain about you guys not recommending any systems, but to paraphrase Oscar Wilde, "If there's one thing worse than not being recommended by SFT, it's being 'not recommended' by SFT."

Yes, he's turning in his grave, and yes, you haven't 'not recommended' this system, but come on, one would have to be loopy to actually buy this (with no returns allowed!) following a review where you couldn't even get any results out of it.

This is a perfect example of indicator overkill - if you're using more than 3 indicators, it's probably too many. In 3 Ducks I trust (really must get back onto that!)

On the upside though, I think the screenshot really helps the review and I'd like to see more of them. Yes, I know MT4 can be tweaked etc but it really helps me personally 'get' the system. BlackDog for example could have used some screenshots (although the review stands well as it is).

Thanks again for guiding us around this particular system.

Z

Thanks for the review and yes, totally agree, the screenshot is a very useful addition, especially with so much going on. The indicator cocktail reminds me a bit of Black Dog (which I still don't "get", but that's me), though more Psychedelic Dog than Black.

Also, anyone prone to migraine might be well advised to stay away from this too, though there is a warning in the "no refund" policy and numerous affiliate links.

I'd be interested to hear from, and shall be humbled by, anybody who can successfully trade "Easy" Forex Breakout.

I want to keep track of this thread because am seriously considering going forward with this system. I have a laptop with a relatively small screen; I think I'd still be able to use it - the picture above shows lots and lots of currency pairs all at once. I'm sure I've not got the optimal situation here, but one screen at a time should be sufficient.

Would the member of your team who indicated they are actually USING this system please comment for this thread? If you are using it, it MUST be pretty good. Thank you . . .

Hi and welcome to SFT.

This is a line from our original review "We felt a review, even on our extensive rule base would have been of no use to anyone, including providing us with any kind of credibility." - We have never traded this and would never consider doing so.

Apologies we cannot help you but we wish you well with your task.