QuickTradeFX by Aaron Clarke (Agora)

[zorba_g]

Hi ReviewTeam,

Agora have launched another forex system this week - QuickTradeFX. Summary from the blurb:

Trial: 60 days
Price: £249
Frequency of trades: once a day
Timing of trades: between 7am-8am
Type of trade: Set and Forget

Plug two numbers from a chart into a special spreadsheet and it gives you the trade parameters (SL etc). Unclear if you actually get to know the system inside the sheet. Weekly update email included.

Risk approach is not shown. Monthly pips average from 01/2010 to 09/2011 is 133, max 250, min 5 (my maths) with no losing months. Seems to be some sort of range breakout (or retrace) system based on the Asian session.

Aaron offers to send a trade-by-trade history although I can't see an email address on the blurb page; I'm guessing you have to be in the trial period to ask.

Looks interesting, from the 'zero thinking' point of view, and could be good if it really works. No idea of the stops though.

Cheers

Z

[Rugby Trader]

usually if you send an email to Glenn at shortcut he will give you the spreadsheet that you're after.

[zorba_g]

Cheers Rugby Trader - nice to know they are opening up!

[zorba_g]

Update - if you get ads for the 'Toyko Drift' it's this system.

[nomis46]

ordered this and sent it back the next day for refund without trading it so can't comment on its claims to profitability.
Its based on trading off the high and low point of the Asian market. The 'special spreadsheet' is nothing more than an excel spreadsheet to help calculate entry and exit points, which for the pips involved isnt necessary as its very simple maths.
The reason I sent it back is the risk reward is more than 2:1 AGAINST ! . The profit targets are 20 pips and risk is 45 - dont care how good its claimed to be that sort of RR is madness - no thanks !

[nomis46]

Sorry - forgot to add that another reason I didnt want this system is its based only on the USD/Yen. And those japan boys have made it clear they intend to intervene whenever necessary which makes it unpredicatable to bet against.

[Reviewteam]

Thanks for the feedback, we have a review in progress and will hopefully get a preliminary review out early December.

[StevieP]

Been using this system for 5-6 weeks now with reasonable success. Trading a bit quiet at the moment as would be expected, some days no trades indicated, several days trades placed but not triggered. 45 pip stop loss has never been hit during that time but 3 smaller losses of between 5-10 pips. A good few wins and a profit of 95 pips so far.

Trades take very little time to identify and place at around 7 - 8 am. I think the system has some merit but the manual isn't particularly well written, contains some errors in the past results table for 2010, recommends Shortspreads but gives examples on IG, and isn't very clear on some of the technicalities of the system despite it being generally quite simple.

Support has been reasonable sometimes quick, sometimes not so quick and I seem to struggle to get reasonable answers to anything other than basic questions without having to send several emails about the same thing.

One thing that has really P'd me off is that there is a rule where by if the range is less than a certain number of pips then you don't trade. This is fine and a rule I was happily following but when I questioned last weeks published results as they didn't seem correct I got an email saying he used a different (higher) figure! This wasn't mentioned in the manual or any weekly updates which I find strange, it leaves me wondering if different TP's and SL's will be claimed in future if it makes the results look better!

I would recommend getting Xmas and new Year out of the way before trying this out but there's a 60 day trial so probably worth a go.

Hope that helps until the review is published.

[Reviewteam]

StevieP,

Welcome to SFT and thanks for taking the time to write such a detailed and constructive post on your experience to date. We hope to have a review published shortly.

[zorba_g]

Top comments - the shortspreads recommendation is only because Agora own it, just rebranded Gekko. Same experience with the service too, very on and off.
Z