Some of you may or may not know Mark McRae. For those that do not, he is the publisher of the Sure-Fire Forex Trading System and the Traders Secret Code. I am a subscriber to his Forex newsletter and once in a while he sends e-mail letting his subscribers know about new Forex trading systems and products. No doubt he is getting a commission for promoting these products, but for the most part I found that he does not promote junk. So as I was saying, today I read his newsletter and he introduced to his readers some new 100% manual trading system called Forex Assassin. On first sight it seems quite interesting and I’m really, really, tempted to buy it. What I like best about it is that it’s a purely price driven system, no moving average crossover and any of that technical analysis voodoo. Furthermore it requires only 1-10 minutes of your time per week to setup your trades. Like I said, it is an entirely price-driven people and this is perfect for us poor folks like me who still have to hold a regular 9 to 5 job. I must admit this is what originally attracted me to the product. I’m quite busy and my time is precious but I still want to get a piece of the Forex market action.
Here are the main features of this mechanical trading system (quoted from the author’s website):
– Only requires 1 minute per week of your time
– Was designed for 9-to-5’ers with little capital and even less time
– Has been proven to generate as much as $800 from a single trade
– Is a ‘price driven’ system. In other words, uses absolutely NO indicators whatsoever
– Can be used by even the most inexperienced traders. In fact, the system is so easy to use that even if you have never traded forex before you will be on your way in less that 5 minutes!
I’m a bit skeptical about the “even if you have never traded forex before” but hey, what can I really say without having actually tried the system yet.
It’s a bit strange typing in three numbers once a week then you’re done but that is really all there is to it. I don’t think your friends would believe you if you told then you worked an average of one minute per week.
The system was specifically designed to work alongside a full-time job. Remember, that the majority of traders still have full-time jobs and trade when they can. This may solve the problem for them. As I said, it is 100% mechanical, meaning that you don’t have to think about or make decisions. It is all done for you.You don’t need to spend time monitoring markets, it is all completely automated for you.
Here are some backtesting results done on TradeStation (procured by Mark McRae):
Here is a recent example trade setup (March 06, 2008 – EUR/USD) :
Right now I have too much on my plate since I am testing way too many forex trading systems. But once I am done testing the Forex Autopilot system I will most likely move on to this one as I’ve definitely been looking for this type of trading system for a long time. Out of curiosity, does anyone out there have live trading results using this sytem?