Forex Power Play Review
Check out the Trader’s Bulletin Forex Power Play review, a currency code strategy from Alex and Nicky Ong
What they say:
The great currency code revealed
7+24+4+60=1
25 regular people have already been shown how to use this remarkable “currency code” and they enjoyed a hugely successful 70% average strike rate:
“…a breakthrough for anyone that had problems with trading in the past, whether they are new or experienced traders. [They] have made a system that is much easier to place trades, also most of the background work has been done for us, all we need to do is follow the instructions…”
– Claudette, Beta-Tester“…around 75-80% success in the first two weeks (7 trades with 2 losses – total 306 pips)… was amazed as I haven’t experienced this kind of success with forex in the past… just followed what was on the tin and it worked!”
– Dianne, Beta-Tester“…it just works. Trading can sometimes be a bit scary, but, after watching this over the last couple of weeks, I can honestly say I don’t even pause to set the trade up and leave it, because, win or lose, I know full well that I am going to come out on top.”
– Mark, Beta-Tester
Right now, I’d like to show YOU exactly what this strange equation means and prove how it could pocket you daily profits of £15, £36 or £21 from any forex market – completely tax-free
Dear Reader,
Take a look at the code again…
7+24+4+60=1
It’s important. But at the moment, it doesn’t make much sense, right?
Hardly seems like the secret to successfully trading ANY currency pair… but when you see how this works, you’ll almost kick yourself for not realizing it sooner yourself.
Because no matter how strange this “currency code” seems right now, the fact is: BY TOMORROW, it could already be helping you to pocket daily profits of £15, £36 or £21… completely tax-free.
Available from:
Agora Lifestyles Ltd
Price:
£495 (including VAT)
Money-back guarantee:
30 days
If you’re already using Currency Code from Alex and Nicky Ong, please let us know what you think of it in the comments section below. A full Trader’s Bulletin review will be coming soon …
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12 comments
Bogdan
Hello,
Is this product still for sale?
Thanks
B
Andy
I see Forex Power Play is doing the rounds again, anyone who still uses it have any updates as to performance etc ?
Mark have you finished your review yet ?
Andy
Steve
I don’t normally dive in and defend vendors / system sellers but I feel that I need to present a number of points to level things up.
Firstly, Alex and Nick Ong are really nice genuine people. I’ve shared countless emails with them and they always reply promptly and generally sort problems out very quickly.
I joined FPP back in November. Even though I am a reasonably experienced trader I went through the information several times, especially the actual trade charts (Trade of the Day) etc.
Initially I was concerned that Christmas and New Year would be wasted time in terms of my trial period so they agreed to extend it.
Personally I have had good success with the method. I don’t have the exact numbers to hand but this is one of the best strategies which I have come across. I am steadily making progress.
What Alex has mentioned in previous posts (and on the FPP website) is dead right… You cannot simply take every signal, a certain degree of other analysis is always required. In my opinion this ‘extra’ analysis is not difficult and people should not be put off by this as this analysis could be nothing more than establishing a trend in a higher timeframe (H1, H4 or D1). Over the last couple of months my eyes have really been opened as to how important this is.
I think that sometimes people expect a system or method to do all the work for them. This is never going to happen. Trading is one of the most difficult jobs in the world.
All I can suggest is that people who initially struggle should work through the material again, especially the charts. You’ll be presently surprised how you’ll keep spotting little things which will steadily improve your trading method. Remember also that not everyone will see a chart in exactly the same way.
Most of all stick to the trades (5 min PPs) which are in keeping with the current trends of the higher time frames. It’s very rare indeed for me to take a 5 min trade which conflicts with the H4 colour on the scanner. Wait for the trades to come to you rather than ‘searching’ for them. If a trade doesn’t jump out then it isn’t really a trade. One of the hardest parts of trading is the sitting and waiting. I’m up at 6.15am most mornings for my initial analysis. Sometimes I sit here until 10.30am and don’t get an entry. It took me a long time to learn that skill. Some mornings the paperboy earns more than I do!
The hardest skill is ‘waiting’.
Good Luck.
Steve.
Kevin Garrington
Thought it useful to other individuals looking at the Forex Power Play System to give you an update on my second month using it –
Well, proof of the pudding as they say…….second month of using the Power Play System on the 5min charts I’m 104 pips down. First month I was 160 pips up so you could argue, as Alex has, that I’m still in profit. The signals given with the system ARE NOT signals to trade but indication that there MAY BE a trade there as I explained in my previous comment. You have to take the judgement call based on other criteria (your own)whether the signals that are given are for a valid trade. My experience over the two months is a 42% win ratio. If you just trade on the signal its a 50/50 gamble the trade will be in your favour and if you just trade the 5 min Power Play you cannot set and forget a trade. In many instances – 50% – the trade will move in the opposite direction to the signal given. I have had contact with Alex and sent screen shots and details of my trades. I have requested a refund from Alex but it has been refused as its a way outside the trial period. As with most every Forex system the historical results are not indicative of future results. As Andy stated in his comment, my experience has not been in line with what the system sales pitch promised. Unfortunately for me it looks like the first month of my trading with the system was simply luck. I now have no confidence in the system and are £495 out of pocket. Take the trial but make a better judgement call than I did. Alex has replied to all my emails in fairness and has said that my run of losses with the system is something we must expect with trading
Alex
Hi Kevin,
I know we have spoken via email but I just wanted to give a quick reply here as I think the inference that we have done something wrong with regards to the refund is a little unfair. We process ALL refunds that are requested within a reasonable amount of time, even if sometimes it is outside of the 30 day period.
You registered with us back in mid December. You had a good January then February was a little tough for you and you requested a refund on the last day on February which is a month and a half after the 30 day trial period ended. I don’t think this is unreasonable of us to say that you were way outside of the trial period?
With regards to the trading we did bounce a few emails back and forth and we are still more than willing to work with you and help you out if you want. One of the pieces of advice was to wait for the signals in the direction of the daily trends. Now I know this would mean days of doing nothing but on the days when you do get the right signals you would do very well indeed. I think you got into a bit of a negative spiral after taking a few losses and ended up getting into other trades which were not great setups. As mentioned in the emails some of these were trading into huge levels which is why we didn’t take them ourselves.
Please don’t be discouraged. Even taking into account your negative February where a lot of the trades should have been avoided you are still up overall. Please think about that for a moment. You had a bad month and you are still up overall. Does that not show you a little about the potential of what we teach?
Please drop us and email and we will see what we can do to get you back on track again and hitting the types of trades you were taking in January.
Best Regards
Alex
Andy
I had this when it was launched last year and sent it back within 2 weeks.
Have to agree with the other comments, i have a day job and was assured at purchase that there would be trades aplenty on the longer time frame but found in reality it just didn’t live up to it’s promises.
Shame as it promised so much (as usual ! )
Alex
Hi Andy,
I am sorry you sent it back.
I think I need to cover something though because it seems to me that a lot of people are interested in quantity of trades rather than quality.
Since we launched this in June of last year trading the 4 hour charts which is longer term and does mean there are fewer trades, you would have made a 38% return and 2660 pips and that doesn’t include the GBP/USD trade that we are currently 400 pips up on at the moment.
We want to help you all and I understand that it can be frustrating if you only have a few trades and you work full time but please understand that profitable trading is about quality and not quantity.
Best Regards
Alex
Kevin Garrington
Have to agree with Tony and Terence Frost’s comments on this one. I’m into my second month of using the Forex Power Play system so have gone beyond the trial period to send it back to get a refund. I have only been trading with the 5 minute Power Play so my comments are related to this part of the system only. First month I was up 160 pips, this month I’m down 97 pips. Still in profit you may say but the system is delivering a less than 50% win ratio now. I have tasked Alex with regard to this. I’m really questioning the integrity of the system, its proposed use and the claims it makes. It is not a cheap system at £495. If I had experienced the latter month I would have sent it back for a refund.
Total Trades 92 Winners 40 Losers 52 43.5% win ratio
Having had communication with Alex, here is the heads up – the signals given on the system ARE NOT signals to trade but simply indicators that there may be a trade there! This is not explained in the system manual at all; in many instances (more than 50% of the time having tracked it over the past week) the market moves in the exact opposite direction to the signals given with the system! Which explains the near 50% win ratio
You cannot set and forget with the system, again in many instances the signals will reverse and go in the opposite direction to the first indication given. In my experience I would not suggest purchase of the system until it is refined better to give a calculated risk on the trade rather than a 50/50 gamble.
I questioned the validity of the signals given with the system with Alex, his reply was that they were valid but you had to look at the bigger picture and analyse where the market was and whether the trade was valid and worth taking based upon your view of the market you were looking to trade. Up to you how you interpret that but my understanding when I purchased the system was that the signals were given to trade and that past experience with the system was a 75% win ratio.
If you are a more experienced trader perhaps there is greater value in the system than I am seeing. I would welcome comment.
Alex
Hi Kevin,
The signals are signals on the direction to look for the trade and then you need to follow the other rules for the system. The signals look at multiple different timeframes so there will be times when the market goes in the opposite direction to the signal but most of the time you would not be in a trade to start with so you would not have lost anything but an opportunity.
We don’t try to catch every opportunity in the market. We are only interested in the high probability ones that pay you more often than not. That is why I referred to the bigger picture. For example one of your trades you asked why it lost and I simply said that the pair was trading in a huge level which we would not be taking a trade into. In fact that trade was the GBPUSD long. We said we would be looking for short opportunities and currently we are about 400 pips up on the trade.
We were only trying to say to have patience and only trade the highest probability setups.
Kevin we want to get you to where you need to be. Please allow us to help you.
Drop us an email.
Best Regards
Alex
Tony
ForexPowerPlay/Currency Code. I bought this back in July when it first came out. It has a very useful members website, with a wealth of information about trading , forex basics, money management, forum, videos, “Trade of the Day” posts etc, but I have to say, I wish I had sent it back for a refund when I still had the chance. This is not to say that its a rubbish system – I can see that it may well suit some people – but I have two big problems with it.
The first problem is the amount of time you need to spend at the pc waiting for a signal. During the trial period I had a couple of winning trades which must have lulled me into a false sense of expectation, because since then the number of times that I have actually been at my pc when a trade has been available to take have been few and far between. Of course the promotional guff does its best to downplay this inconvenient truth by posing FAQ such as ” Once I’ve set up a trade, do I have to sit and watch it all day” – to which they can proudly and truthfully announce “Not at all. You can leave your computer and carry on with your day as normal”. Of course a more relevant FAQ would be “Do I have to sit in front of my pc waiting for a signal?” ,but the answer would have to be “Yes you do”, so the question is not asked! Another FAQ asks “What if I have a day job?” Answer “No problem. You can trade whenever you have a spare moment.” Well this may be true if you happen to peruse your pc just as a trade is setting up, but in my experience this simply does not occur very often. So I’m afraid a more accurate answer would be “Big problem”. This problem of sitting and waiting for a signal applies to a lot of systems of course, but most manage to get around the problem by incorporating some sort of alert system for when a trade is setting up – either a simple audible alert on the pc or email or SMS message to your mobile. Not so with FPP, unfortunately.
The other big problem I have with FPP is that it is not backtest-able. You can scroll back in time and study the interplay with the support /resistant marks and the powerplay line (which would appear to be a 60 SMA ) but the all-important confirmation signal (which appears as either a red (for sell), green (for buy) or grey (for neutral) disc on the top right hand corner of the chart, does not change – its stays for whatever signal it is giving for NOW. So you cannot see what trades have occurred in the past – not even an hour ago! You have no idea how successful or otherwise you would have been. Bizarrely, on the members website Alex Ong has posted a video extolling the virtues of back-testing, and encouraging members to do so. It is an excellent video, but Alex seems totally oblivious to the fact that it is utterly inapplicable to the FPP system! A member did post the inevitable query – over five months ago now – asking how the back-testing is meant to happen, but so far, no reply. So much for support. (Actually, that’s probably a bit unfair – the support is usually very good).
I have always considered the Ong brothers to be honest and helpful, and still do, but I really think they need to go the extra mile here to tackle to alert and back-testing issues, because in its present form I think that it is grossly overpriced. I would suggest to anyone trialling it that they consider carefully the likelihood of them making money with it long term without the benefit of an alert/back-testing facility, and if in doubt, send it back – you never know -if enough refunds are sought, they might do something about it!
Alex
Hi Tony,
Thank you for your review. I would like to address some of your comments.
First and foremost about the backtesting… We did have the programmer work on a version where you could see the previous signals. The problem was that it wasn’t all that stable on MT4 and caused it to crash quite a bit. This obviously then made it difficult to trade as you need a stable charting platform to be able to trade properly. We haven’t done anything further on this but will look into it again.
Now to answer a few of your other comments.
About the FAQ’s first of all we thought we are upfront with anyone who has asked about the screen time saying that yes you do need to sit and wait for the trade, or actually more specifically you need to wait for the setup to present itself. You can then set your orders and walk away. Often the opportunity will present itself by about 10am and lots of times even before that. I don’t think this is bad for a system that makes money?
With regards to having a full time job, no we do not think this is an issue at all as we have many members who do this. They check their charts quickly in the evening and then again in the morning before they leave for work and they have been doing quite well. Obviously this is swing trading and not day trading.
The audible alert is something that we can look into but you would still need your MT4 on and you would need to be within range of your PC. We have looked into SMS and email alerts before and have been advised against it as apparently in can cause more issues than it solves.
Finally about the price… We believe that our price is more than fair. This system works, it makes money. We are on the other end of a phone to assist if needed as well. We provide webinars to help our members learn and get up to speed quicker. We send out trade of the day posts, we send out analysis of our longer term plays. If you take advantage of all of this you have a much better chance of being successful.
We had an email from one of our members the other day thanking us for our analysis on the GBPUSD
Here is what he wrote
“Your note motivated me to do a bit more analysis to add to the trade and let it run. I am happy to say that the first trade hit its profit target at 1.54800 this morning and bagged a very nice 199 pips. The second trade is up by about 180 pips.”
Now I am not sure who else provides a service like we do for the price we offer it but I am pretty sure they are few and far between.
Ultimately we want to help all of our members and we feel bad that you feel we have not delivered for you. Why don’t you drop me an email and let me know exactly how I can help you move your trading on and I will do everything I can to make it happen.
Happy New Year
Best Regards
Alex
Terence Frost
Hi Mark
I bought FPP a few months ago but I found that it was hit and miss and not nearly as easy as Alex and Nicky say it is. It comes across as very easy but I never found how to make it work 70%+ successfully. It may be that I did not give it enough time or did not fully grasp it and maybe it can work if you persevere but I can only speak for my experience. Don’t buy it and expect easy success as there are many false signals that need filtering by studying S/R and patterns before entering the trade!
I would be happy if a few people out there made it work and convinced me to try it again though as, in principle, it does seem a good product that uses multiple time frames and 60 MA that is called the power line. I will watch this space with interest to hear other comments about the product.