Website : 100% FX Website
Publisher : Trader X via Agora Publishing
Cost : £197 with an 8 Week Money Back Guarantee
Review Date : July 2011

WHAT IT SAYS ON THE WEBSITE

Another product where the Sales page is a lengthy (30 minute) video in preference to a lengthy narrative. Below are the highlights we picked out:

• Trader X works for a very big company and has had to retain a secret identity (for security reasons), only 100 initial copies of 100% FX have been released.
• 100%+ return per trade with a 65%+ chance of every trade winning based on 27+ years of historical data.
• Simply enter Monday’s date into the 100% FX spreadsheet to identify potential trades and then grab 2 figures online for each potential trade. The spreadsheet will then identify which trades to place.
• 5 minutes once a week (on Monday), 4 – 8 hours a year.
• No made up performance statistics - Worst case scenario based on just 55% winning trades is a 30%+ return per year, Best case, based on 75% winning trades is a 150%+ return per year.
• This is not Spread betting, we assume it’s Fixed Odds (we later confirm that the system is based on the BetOnMarkets platform).
• Suitable for 1st time and experienced traders.

The system comes with an 8 week Money Back Guarantee backed by Agora Publishing.

THE MATERIAL

A whopping 125 page manual (for a system that takes 5 minutes once a week!) and the 100% FX Trade book, an Excel spreadsheet. There is also an Open Office version which we did not use.

The manual is actually very well presented and although seemingly padded out the content is, in the main, to the point and useful. After the introduction the manual focuses on how to populate the Trade book each Monday; enter Monday’s date, retrieve a price for each potential trade and then the BetOnMarkets return for each.

Next the manual explains which trades to select and then there’s a walkthrough on placing the trades. The Money, Risk and Trade & Management sections are quite detailed too and promote sensible ideas, namely a 3% risk per trade.

Some performance analysis is also provided for 2011 (up to Week 22) to the end of May. The performance is based on trading at 4 different times of the day (on Monday) although you do actually only trade once a day at whatever time suits you. Performance summary below, all times are UK time:

• 07:00 = 14 trades, 7 winners, 7 losers, +2.82% profit
• 09:00 = 19 trades, 11 winners, 8 losers, +22.71% profit
• 17:00 = 29 trades, 14 winners, 15 losers, +31.20% profit
• 20:00 = 27 trades, 13 winners, 14 losers, +16.68% profit

With the exception of 09:00 it seems the 65% strike rate is not being achieved. However, profits are being made due to the return being in excess of 100% for most of the trades placed.

The “Chance Of Finishing” Weekly Tables, the ones upon which the Trade book is based (we assume) are also provided as an Appendix.

THE SYSTEM

This really is simple, actually it feels too simple. Open the spreadsheet, enter the date, then the price data from BetOnMarkets and then the return percentage. Select the best trades and place them.

The first week it took us about 15 minutes to perform the entire process. Now it takes us about 5 minutes, or just over if we check again later in the day.

CAN IT WORK

We have traded just 3 weeks so far. Typically, because we are around anyway we have a first look at 07:00. If we get none or just one trade we have another look at 09:00. Below are our results:

• Week 29 - GBPUSD Higher than 1.6031 – Won (Placed at 112%), EURUSD Higher than 1.4212 – Lost (Placed at 121%)
• Week 30 - EURCHF Higher than 1.1451 – Won (Placed at 108%)
• Week 31 - GBPJPY Higher than 127.75 – Lost (Placed at 111%)

That’s 2 winners and 2 losers. At 3% risk per trade we are about +1% in profit because the return is greater than 100% for all trades placed.

Due to the ease of use and low time commitment we believe there is enough interest here for us to continue to monitor for at least another month or so. We have created a 100% FX Trading room for those interested in joining us on Mondays, around 07:00 and, if necessary, 09:00. We will report back here on a monthly basis with comments and performance updates from the Trading room.

Finally, our main concern with this system is this. Is a system based on the historic weekly movement of currencies really a solid foundation for a system? Is it more reliant on the fact the situation is a coin flip but all trades have a 100%+ return per trade meaning in a truly random environment it will prove profitable anyway?

SUPPORT

We only made contact once and received an adequate response the same day.

CONCLUSION

PROs
• Easy to set up and use.
• 100% mechanical.
• 5 minutes a week.

CONs
• Will not be enough action for some, 5 minutes a week!
• Is historic weekly data a solid basis for a trading system?


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.

this system really sounds good and interesting to me.Is historic weekly data a solid basis for a trading system? any expert know the answer for this?

cheers

Thanks for getting the review done so promptly RT. I'm no expert so I can't really reply to Pippy9's question but I'd guess that it lets you catch seasonal trends (not sure if there is a 'real' name for them) eg weeks that are traditionally full of good results. Dunno really! It does appeal to my aversion to unfriendly volatility though.

Z

so has anyone had experience with this system? care to share?

It has some resemblance with the FX Friday system which is also based on weekly moves. Based on that I would say it could be very hit and miss, the win/loss ration is not great. It could have a slightly edge due to the 100%+ returns compared with 30%+ from the FX Friday, but these systems don't seem to be robust enough to deal with different market conditions. Another lesson I learned from FX Friday is the dependence on BetOnMarkets that can offer you very low odds or no odds at all for many of the signals given by the system, which means that on some days you may have 4/5 trades that you can't take because BetOnMarkets offer low or no odds.

My humble opinion: stay away from it!

Update from our 100% FX Trading room (which you can find here) - Took 5 trades so far and with this weeks looking like coming in it means 2 wins and 2 losses. All in all just under break-even to date.

We have just updated our journal, apologies for the delay - 100% FX Journal.

Originally Posted by Reviewteam

We have just updated our journal, apologies for the delay - 100% FX Journal.

Hello RT,
In the trading room you have (for me anyway) a great result of +9% for two months.
The +9% for ease, does that mean if you had a £1000 bank, you would be £90 up after these two months, £10k = £900 etc.
As if it is, I think i'll take I'll take a punt. I can get a refund if it does not work.

Hi,

Yes it does - Although we are just about to report two losing trades this week at -3% each - We reckon there may be a potential for an average 1 - 2 % a month in this one - Guessing though as exposure has obviously been quite brief.

The concept of 65%+ chance of winning and 100%+ return on each trade seems sound, it's the foundation though, historical weekly data that we are just not sure off.

Originally Posted by Reviewteam

Hi,

Yes it does - Although we are just about to report two losing trades this week at -3% each - We reckon there may be a potential for an average 1 - 2 % a month in this one - Guessing though as exposure has obviously been quite brief.

The concept of 65%+ chance of winning and 100%+ return on each trade seems sound, it's the foundation though, historical weekly data that we are just not sure off.

Thank you.
I'll have a think about it.
Your review service is truly appreciated.