Forensic FX Review
Forensic FX Review from Alex Williams
What they say:
Forensic accountant reveals the £11,830-a-year strategy that made him rich for the first time: “I’ll show you how to make £210 each morning before the butter’s even melted on your toast” Other forex strategies keep you staring at your PC all day, never knowing when the profit opportunities might show up – if they ever do… But with this approach, you just check for one super-simple signal that’s either there at 7am, or it’s not. If it is, you could set up an effortless £40, £210 or £370 payout while you enjoy your breakfast… And if not, you just drink your tea and get on with your day – knowing that by just the end of that week, you could have added an extra £280 to your weekly income, entirely tax-free.Price
£247
Money-back guarantee
60 days
Where to buy it
Agora lifestyles
Trader’s Bulletin Review
Finally got my copy of Forensic Forex.
It looks like an upgraded version of a well known trading method using pivot points, that to be honest, if it was that alone I would have sent straight back as it is available for free on the internet.
But I have to admit Alex has introduced a new bit of TA to the mix, that I’ve not used in the past and has piqued my interest.
This is either very clever marketing (after all I did order it because I was intrigued by the “secret, hardly used technical indicator” they go on about in the promotion). Is it a repackage of an old, well known strategy, or might it actually be a useful addition that will filter out weaker signals and prove to be profitable? As ever, time will tell.
Some basic facts to be starting with, so you’ll be able to tell if this is one for you to watch or not.
Trades are placed at 7am (not before) and closed at 7pm if they have not already hit the stop or profit target.
It’s a set and forget strategy, so once you’ve placed your trade you don’t need to monitor it (I was a little surprised that Alex says you need to log back into your account at 7pm to check the trades and close them if they haven’t closed at the stop or profit target already. Hasn’t he heard of setting a “good until time” on his trades to do this automatically)?
The good news is by closing at 7pm we avoid the rolling charges, which can be eye-wateringly expensive on IG compared to other platforms.
As the name suggest we are trading fx, in particular;
GBPUSD
EURUSD
USDCHF
You’ll need an IG account as the “secret hardly used special indicator” isn’t available on most platforms. I did have a bit of a hunt around determined to prove him wrong, but haven’t managed to find it on any other platforms, so this is true rather than just more marketing hype.
One point to take note of is you need to sign up to IG’s ProRealTime charts. IG do charge for these, but if you trade 4 times a month they refund the £30 fee, so this shouldn’t be an obstacle if you’re serious about trading, but might put off a few people.
If you’re not already got an IG account, you will be able to trade at 50p per point for awhile, meaning an account size of £500 is recommended. If you already have an IG account then the minimum stake is £1 and so a £1000 bank is needed (unless you are prepared to risk a higher % of your pot per trade).
Recommended risk per trade is 2% of your pot and target is 40 pips profit a week.
As ever if you’ve already got Forensic FX, please post some comments on how you’ve been doing and I’ll be updating regularly with my results too.
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24 comments
Steve Bell
Hi Mark,
All quiet here since March? Does this mean its a no-go strategy?
Regards,
Steve
Mark Rose
2 trades last week, both winners for a total of 32 pips profit.
Regards,
Mark
filio delaroux
A quote from the current Forex Round UP – “That’s why I was telling people about it at the forex show last week. It fits the bill for what a lot of readers are looking for. It’s startlingly simple – but it could earn you tax-free payouts of £40, £210 or £370 every single day…”
I note that Alex does not even trade every day and that there are rules to stop everyone.
Good work Mark.
Mark Rose
Afraid there were no Forensic FX trades again this week.
Regards,
Mark
Mark Rose
No Trades last week for Forensic FX.
Regards,
Mark
Mark Rose
A loss last week for forensic forex.
GBPUSD 5 no trade days.
EURUSD 4 no trade & 1 trade day
USDCHF 4 no trade & 1 trade day
Total profit -57 points
Kind regards,
Mark Rose
Mark Rose
No Trades at all this week for forensic fx
GBPUSD 5 no trade days.
EURUSD 5 no trade days
USDCHF 5 no trade days.
Total profit 0 points
Kind regards,
Mark Rose
william chamberlain
November – 96
december upto 16th 105
not so impressive !!
Mark Rose
A small profit this week for forensic fx.
GBPUSD 5 no trade days.
EURUSD 4 no trade & 1 trade day
USDCHF 5 no trade days.
Total profit 17 points
Kind regards,
Mark Rose
Mark Rose
First week back for forensic wasn’t great I’m afraid.
GBPUSD 3 no trade & 2 trade days
EURUSD 3 no trade & 2 trade days
USDCHF 5 no trade days.
Total profit – 40 points
Kind regards,
Mark Rose
Mark Rose
Check out this screen shot from Alex’s account showing his trades over the last month … very impressive!
Mark Rose
Here are the results for the final week before the Christmas break.
Monday 16th Dec GBPUSD 37 pips profit
Tues 17th Dec – No Trades.
EUR/USD – Wasn’t traded as price had bounced twice from the major resistance line at 13,803
GBP/USD – too close to R1 to trade.
USD/CHF – pretty much a mirror image of EUR/USD so for similar reasons I decide to leave it.
Wed 18th Dec No Trades
GBP/USD – Above pivot but too close to 16,300 to enter a buy trade.
EUR/USD – Also above pivot but daily chart suggests price may well be about to drop.
USD/CHF – below pivot but for several hours seems to have found support at 8,845 – 8,847
Thur 19th Dec No Trades
EUR/USD – below pivot
GBP/USD – just on the pivot
USD/CHF – pretty much a mirror image of EUR/USD – the strong 6am downward candle prevents a buy
Fri 20th Dec No Trades
EUR/USD has already hit target before 7am and the other two pairs too close to potential targets to consider a trade so a no trade day finishes the week and the year.
However a very satisfactory 37 pip profit on the week thanks to Monday’s GBP/USD trade.
Regards,
Mark Rose
Mark Rose
Below are Alex’s published results for week commencing Monday 9th.
Monday 9th December – GBPUSD 39 pips profit
Tuesday 10th December – No Trades
Wednesday 11th December – No Trades
Thursday 12th December – No Trades
Friday 13th December – No trades
Week commencing 9th December = 39 pips profit
I’m still struggling a bit with the 19 rules to entry with Forensic, but do understand that Alex wanted to give instructions for all scenarios, so the members know what to do and aren’t having to make decisions independently.
Regards,
Mark Rose
Mark Rose
Results for week commencing Monday 2nd.
Monday 2nd December – No Trade
Tuesday 3rd December = 27 pips profit
Wednesday 4th December – No Trade
Thursday 5th December – No Trade
Friday 6th December – No trade
Week commencing 2nd December = 27 pips profit
One point I’d make about these results is Alex know’s his system inside out and keeps out on days when I thought there might be a trade, so you will have to spend some time learning the nuances of this strategy.
For example below are some extracts from last week’s update;
Potential target too small, no trade.
Target already hit during the night (see Rule 4 in Chapter 8 of your manual), no trade
Possible order to open but the R:R ratio failed the 60% test (see Rule 13 in Chapter 8 of your manual).
Level below 1.5 so no trade (see Rule 7 in Chapter 8 of your manual).
Hovered around the line for several hours so no trade (see Rule 10 in Chapter 8 of your manual).
Daily trend down and other 2 pairs undecided so no trade (see Rule 8 in Chapter 8 of your manual).
GBP/USD – has now bounced a couple of times from 16400 line and arguably 16395 would be target rather than 5 pips below R1 and since this has been hit, no trade. Also if target were 16395, then fails 60% rule (see Rule 13 in Chapter 8 of your manual).
Seems to have found support previous day at 16300 so my target would have to be 16305. My stop would be 16355 (See Rule 12, Chapter 8) but this then fails the 60% rule, see Rule 13 in Chapter 8 of your manual, so no trade.
It was difficult to work out correlation today so I decided a definite no trade day.
That’s an important point. Correlation often gets ignored, but I would stress it is an integral part of the Forensic FX system.
Based on my review of the charts from about 6.30am onwards, I’m always trying to picture in my mind which way the 3 currency pairs will move and whatever scenario I come up with, there is always very strong correlation. If I can’t come up with such a vision, it’s a pretty good signal not to trade!
So as you can see it’s not the most straightforward of strategies!
Regards,
Mark
Mark Rose
Hi Paul,
These are actually Alex’s results. I’ve been double checking them at the end of the week rather than live trading at the minute.
Regards,
Mark
Paul
Hi Mark
I assume the results you’ve posted are from backtesting the strategy(?) They are rather discouraging but are you still planning to proceed with a live trial?
The author, Alex Williams, comes across as genuine in the marketing and he claims the methodology is the result of years of research into finding something that produces consistent profits….but your early evaluation and comments don’t seem to support this.
Mark Rose
Sorry to be slow posting results on Forensic Forex.
I’ll admit I’m finding this one a bit fussy with quite a few little rules that you need to concentrate on.
Monday 28th October – 3 trades (EUR/USD, GBP/USD and USD/CHF) = 60 pips profit.
Tuesday 29th October – No trades.
Wednesday 30th October – No trades.
Thursday 31st October – No trades
Friday 1st November – No Trades.
Week commencing 28th Nov = 60 pips profit.
Monday 4th November – No trades.
Tuesday 5th November – No Trades.
Wednesday 6th November – No trades
Thursday 7th November 1 loss EURUSD – 37 pips profit.
Friday 8th November 1 loss USDCHF – 57pips profit.
Week commencing 4th Nov = -94 pips profit.
Monday 11th November – No trades US Bank Holiday.
Tuesday 12th November 1 win EURUSD for 15 pips profit.
Wednesday 13th November – No trades.
Thursday 14th November – No Trades.
Friday 15th November 2 losses (EUR/USD & USD/CHF) -57 pips
Week commencing 11th Nov = -42 pips profit.
Monday 18th November – No trades.
Tuesday 19th November – 1 win EURUSD for 17 pips profit.
Wednesday 20th November – 2 wins (EUR/USD & USD/CHF) for 23 pips profit.
Thursday 21st November – No trades.
Friday 22nd November – No trades.
Week commencing 18th Nov = 40 pips profit.
Monday 25th November – No trades.
Tuesday 26th November – No trades.
Wednesday 27th November – No trades.
Thursday 28th November – No trades US Bank Holiday
Friday 29th November – No trades.
Week commencing 25th Nov – No trades.
Paul
Hi Mark
You’ve gone silent on this one! Can you give us some early impressions/results of this strategy in action yet?
Mark Rose
Hi Paul,
I’m getting the updates and will post some back tested results, but as yet not managed to trade it live.
What I really need to do is organise a team of testers to work with me on some of these reviews as it starting to get difficult to keep them all updated.
Anybody out there who’s interested then send me a message!
All the best,
Mark
RSS
Hi Mark, have you had any joy with this system?
Mark Rose
I’ve got my copy of Forensic FX on order. Below is the rough outline sent to me, which I thought might be useful. We will have to wait and see if it lives up to the hype.
Regards,
Mark
• The application of the system should not interfere with the normal working day – therefore no action necessary between 7.30am–6.30pm.
• No fundamental analysis involved.
• Announcements are irrelevant.
• Identifying and placing trades should be fast and easy.
• Stops and limits to be readily identifiable.
• Reward : Risk ratio to be at least 0.6 : 1 but preferably higher.
• Hit rate of at least 50%.
• Signals given by any indicator to be clear and not open to interpretation.
• System to be as near to 100% objective as possible.
• Possibility to start trading with a relatively low amount of capital – £500-£1,000.
RSS
Hi Mark , like JTJ I’ve had the emails from Agora. Look forward to see how you get on with it.Thanks for checking it out.
JTJ
Hi Mark, I’ve had a couple of emails about this system from Agora – will wait to see how you get on before I risk any time/money on it
Mark Rose
Have just ordered my copy of this and hope to get started trading it very soon. As usual, will be posting all my results in the comments section of this page, so please watch for them.
In the meantime, if you’re using the system, please let us know how you’re getting on.