Foolproof Quickie Trader by Louise Woof

[zorba_g]

Can we have a review of this system please?

It appears to have been sold around a bit. Only feedback I could find was on bizoppsjungle but that's not worth much as simple mechanical systems seem to get battered by default without any proper critique and it descended into personal attacks on the creator, which is not very credible.

Details:
Cost £189
Mechanical system
Trades twice a day, 3pm and 8pm, Monday to Friday.
A few recent weeks history is shown on the site in some detail (e.g. there's clearly a 10 pip stop) and it claims to have been running for a year. About 50 pips a week average, 2630 pips for the whole of 2009 allegedly.
Backed by a 30-day money guarantee on return of the manual.
Downloadable version provided as well as a printed manual.

In fact, I've now ordered the system for a try out (I left this post half written and went and ordered) as if it works as expected it will fit nicely into my daily trading schedule and it fits the mechanical criteria I think. I ordered an hour ago and am still waiting for the download email. I will report back...

[Reviewteam]

Hi,

Thanks for the request, we have added this to our Request List.

If anyone has any prior experience of this system your input would be appreciated.

[Andy1967]

Can we have a review of this system please?

It appears to have been sold around a bit. Only feedback I could find was on bizoppsjungle but that's not worth much as simple mechanical systems seem to get battered by default without any proper critique and it descended into personal attacks on the creator, which is not very credible.

Details:
Cost £189
Mechanical system
Trades twice a day, 3pm and 8pm, Monday to Friday.
A few recent weeks history is shown on the site in some detail (e.g. there's clearly a 10 pip stop) and it claims to have been running for a year. About 50 pips a week average, 2630 pips for the whole of 2009 allegedly.
Backed by a 30-day money guarantee on return of the manual.
Downloadable version provided as well as a printed manual.

In fact, I've now ordered the system for a try out (I left this post half written and went and ordered) as if it works as expected it will fit nicely into my daily trading schedule and it fits the mechanical criteria I think. I ordered an hour ago and am still waiting for the download email. I will report back...

This is the lady who first got me "hooked"!!! with the foolproof forex system.
Will be interested to see what you think of her latest system Zorba

[zorba_g]

I've now downloaded the PDF. Initial impression is that it's simple and the entry signal is clear - the exit might be a trickier though as it seems you really have to sit and watch the trade. Looks like a good intro though, and the writing style is refreshing and open, with distilled sections with the basics of money manangement, compounding and even a bit of trading psychology. Spreadbetting friendly too.

I was unable to place a first trade with this as my phone wouldn't show the IG charts for some reason (I might have to get one of those darned iPhones). I will start tracking results from tonight!

ReviewTeam - as it's accompanied by a downloadable file, and assuming there is enough interest, it might be worth setting up a trading room in the same way as FX Friday?

Z

[Reviewteam]

Appreciate the feedback.

Noted re: Trading room - Let's say we get half a dozen more requests and we will comply.

[Andy1967]

I've now downloaded the PDF. Initial impression is that it's simple and the entry signal is clear - the exit might be a trickier though as it seems you really have to sit and watch the trade. Looks like a good intro though, and the writing style is refreshing and open, with distilled sections with the basics of money manangement, compounding and even a bit of trading psychology. Spreadbetting friendly too.

I was unable to place a first trade with this as my phone wouldn't show the IG charts for some reason (I might have to get one of those darned iPhones). I will start tracking results from tonight!

ReviewTeam - as it's accompanied by a downloadable file, and assuming there is enough interest, it might be worth setting up a trading room in the same way as FX Friday?

Z

Sounds interesting Zorba, that was the main problem with her foolproof system, no set exit strategy and as always the screenshots invariably showed louise topping out at the peak or thereabouts.
The foolproof manual was based on trading news events (can give you a copy if you like) just send me a PM

[zorba_g]

The exit is a little bit twitchy from the look of things but I won't pass judgement just yet.

[zorba_g]

First PM session - picked up +15.
Experience: Entry was easy enough, then there's a hairy five minutes whilst you wait for it to cover the spread, then follow the exit rules. I basically spent 25 minutes hovering in front of the screen.

[zorba_g]

Missed today's 3pm but looks like it would have been no trade.
The manual arrived, which is very quick since I ordered yesterday just before lunch. It's a nice little A5 hard cover, much better than the usual A4 sheets with cardboard and springbinding. I know it shouldn't make the difference but when you've spent nearly £200 on it, it does.

[bslcrsr]

I recently came across this system when trawling through my mac's junk folder and as my own Multi Chart Trend based system had been misbehaving lately, - no decent trends, mostly ranging and ill-defined, Louise Woof's system looked quite interesting.

But, having already spent a small fortune over the past 4 years on worthless 'foolproof systems', I am now ultra cautious. I therefore googled "Quickie Trading System - Louise Woof". The feedback was anything but positive so I decided to go no further with it.

I now look forward with keen interest to see what our Reviewteam make of it!