Autofocus FX Review Update

Whoa! Since my last missive, all hell broke lose on the markets.

The events in Egypt on Friday afternoon last week sent indices into a spiral so steep that no one cared about the US GDP numbers!

And the roller-coaster ride has continued, with oodles of volatility as strength returned to stocks this week.

US stocks in particular have bounced back strongly. By the end of last week, we had a couple of doom-laden engulfing candles at the top of the chart, but it would seem that nothing could keep the bulls optimism down.

I’ll talk more about engulfing patterns in a moment, but first I want to go back to my email earlier in the week.

If you missed my report on Wednesday about Autofocus FX, I advise you to take a look at this. It’s not often that I recommend an auto-trading technique, but this one is a cut above the norm.

Click here to test out Autofocus FX for 45 days

And it would seem that Bulletin readers think so too – it’s certainly sparked a lot of queries, so I decided to put them to the man of the moment – John Wheatland, the creator of Autofocus FX himself.

Despite his fresh-faced appearance, there’s nothing novice about John’s approach to currency trading, so I also took the opportunity to push him for some words of advice for currency traders …

MR: What is your background in trading? And what do you think has made you successful?

JW: I have always traded spot FX and this has been my foundation in trading. I immersed myself in learning as much as possible. I would estimate I have spent some 6000+ hrs in front of trading screens and feel I am still learning every single day, which I think is an extremely important point to remember.

Without doubt the biggest attribute to success is discipline and patience, these are extremely hard to teach as they rely heavily on the person’s ability to accept certain situations.

MR: I’ve heard a lot of hype about the Autofocus FX forum – what exactly will I find there and how can it help my trading?

JW: Currently there are over 2,200 posts by members ranging from questions on loading charts, verifying entries, settings etc. I have an education section which is growing nicely via my input and the help of other members. I keep detailed results available for members and also an extensive video library with anaylsis of trades and several webinars which I host monthly.

MR: A lot of readers don’t have Metatrader on their PCs – is it possible to trade Autofocus FX without Metatrader?

No, MT4 is needed to produce the signals.

I’ve produced several videos that will help any newcomers adapt to MT4. It is the number 1 charting solution for retail traders in the world. I also have a dedicated section on hints and tips on the forum.

MR: How easy is it to set up Metatrader on my computer – will you be able to help me with this?

JW: MT4 takes around 10 minutes to install and I’m available for help.

MR: Which currency pairs do you trade – is it just cable, or more?

JW: I have expanded it to suit several markets, including EURJPY, EURUSD and the FTSE100 index. All three are going extremely well. I am also looking into Brent Oil, Gold and several other fx pairs.

MR: Is Autofocus FX a forex robot?

JW: It is a robot in the sense it automatically produces the signals for you. However, it differs from many robots in that the end user is required to place the actual trade.

MR: How many trades do you place each day, and how long are they usually open for?

JW: I place a maximum of two trades a day personally per instrument and use tight money management. They can be open from anywhere from 10 minutes through to several hours.

MR: Are there any extra costs with Autofocus FX – for data-feed and your continued support?

JW: No, it’s a one-off fee – the forum, trading room and webinars are all part of the service.

MR: How long is the trial period – the promotional material says 45 days, but I’ve heard some traders talking about 60 days?

JW: The 60 days ran during the Christmas period to cover my 2 week break, it has now returned to 45 days which starts from date of delivery.

MR: What sized trading pot is required to get started?

JW: This is entirely up to the end user – it can be as little or as much as you wish. I believe most spreadbetting firms have a minimum deposit of 250 GBP to 500 GBP.

MR: How much time do I have to trade after I get an alert signal?

JW: The new indicator will show a setup once all conditions are met meaning a fast entry is required. However with the use of the original alerts you can have plenty of time.

MR: What times do you trade?

JW: I operate from 0600-1600 UK time

MR: What advice can you offer to readers who are interested in forex trading?

JW: My best piece of advice would be to learn the basics via www.babypips.com and then watch some charts for a while. It’s not an exciting prospect but I treat trading as a business, which I believe is the only way to succeed.

Get a feel for what suits your lifestyle and act accordingly.

Many thanks to John for his time. It’s refreshing to see a system creator going the extra mile for members, and remember, all Autofocus members also get access to the forum, which is a real hive of activity, with a community of traders to bounce ideas off – and, of course, John on hand to answer queries.

If you’d like to find out more about Autofocus FX, or if you’d like to test the software out for yourself, simply follow this link.

Autofocus FX: start your 45-day test-drive

Now, I promised to get back to those engulfing patterns we saw on the S&P last week …

Candlestick of the week

An engulfing pattern signals a reversal, and can be bullish or bearish. It comprises two candles. The body of the second must engulf the body of the first, and must be the opposite colour to the first.

In this example of a bearish engulfing pattern, we have a clear uptrend, where the final candle has a black body, which engulfs the body of the previous candle. This suggests that strong selling pressure has come into the market, and could indicate a reversal or period of stagnation.

Until next week … happy trading.

Regards,

Mark Rose

P.S. Don’t forget that John’s forex system comes with a cast-iron 45-day money-back guarantee. If, for any reason in that 45-day period, you decide the Autofocus FX isn’t for you, you can get your money back in full.

Find out more here