Forex Striker Robot Revew - Live Testing Begins this Week

In the coming weeks I'll be live demo testing commercial Forex robots. We'll start off with the Forex Striker EA. I decided to review the Forex Striker because it was just released in late October. The Forex Striker boasts an astounding 88% win rate over the past 7 years of back-testing. Even more impressively there are live real money results from 350 beta-testers.

Before I get into the claims, I'll give you some basics on an EA (Expert Advisor). An EA is simply a program that runs on your Forex Broker's MT4 (Metatrader) platform and enters and exits trades automatically based on your selected properties. Since the Forex market is open 24/7, your MT4 platform will need to be up and running around the clock. The easiest way to achieve this is to subscribe to a Virtual Private Server (VPS). A VPS is like having an off site server running a computer operating system around the clock. Your VPS can be easily accessed from any computer. The VPS ensures that your MT4 will run uninterrupted. I set my VPS up through UCV Host. They charge $17 for their basic VPS which is sufficient to run your MT4. Alternatively you can have your home PC running the MT4 24/7. You'll need to make sure it is not set to hibernate.

The Forex Striker comes with the 2 files needed to run the program, a license key code, and a PDF instruction manual. The EA runs on the 5-minute EUR/USD and GBP/USD charts. Customizable settings allow you to set various parameters. Forex Striker automatically calculates your maximum lot size based on your account balance and leverage. You can set the percentage of the maximum lot based on your personal risk tolerance. I plan to use out-of-the-box settings for my demo account. I was literally up in running in less than 5 minutes. It is extremely easy, even for somebody who have never traded Forex.

Forex Striker claims to be the first patented Forex trading robot. Over a 7 year back-test the Forex Striker won 87.01% of short trades and 88.35% of long trades. The most consecutive losing trades was only 3, while the most consecutive wins was a tremendous 40! The average number of consecutive winning trades is 8. The creators of Forex Striker engaged 350 live real money beta-testers. Group 1 began in June and 98% of the accounts were profitable. Most accounts have grown over 100%! Group 2 began in October and 96% are profitable.

The Forex Striker is available for a one-time payment of $147 and comes with a 60-day "no questions asked" money back guarantee. My Forex Striker is set up and ready to go as soon as the market opens this evening. I will post week 1 results next weekend and likely do a video blog as well. Follow me on Twitter for updates.

Winning Trade System Review - Highly Recommended Stock Trading Course

Last week we showed you how to make a few hundred bucks a month from your couch with Get Cash for Surveys.  This week we're going to delve into a heavier topic, equity trading.  The theme of this week's review is, "Give a man a fish and you feed him for a day. Teach a man to fish and you feed him for a lifetime."  There's nothing wrong with Forex expert advisors (robots) that automatically trade for you, signal generating software, or stock picking services - in fact, we have, and will continue to review these products. But in my opinion the pinnacle of trading is being able to forecast the market through your own due diligence.

Winning Trade System is both a specific trading strategy that can be replicated over and over for profitable results as well as an educational equity trading program.  The program includes 16 video trading modules with over 24 hours of instruction from professional trader, David Vallieres.  Most importantly these advanced strategies are simplified to a level that any trader can understand and immediately put to use.  They claim that these strategies are the same that the top 5% of professional traders use. You will learn which trading vehicles are best to maximize profit and minimize capital investment.

I'm a veteran of stock and options trading. I've read many books, subscribed to educational services, and have honestly never heard of some of the strategies taught in these videos.  These are the secret strategies of the top 1% of traders. The most interesting strategy to me is one detailed in three videos.  This strategy is fairly new and known by very few traders.  This concept alone is very powerful.

The videos are very well made; full screen and high quality.  I was extremely impressed with the visual quality and content of the videos.  Winning Trade System sells for $197 with a 60-day money back guarantee.  I am very pleased with this product and highly recommend it for both novice and experienced traders. I've personally spent $800 on an option trading DVD course that didn't compare to the quality and breadth of information in this course. You can watch a few of the specific strategy videos and immediately begin profiting but I recommend you start with the first video and follow the program as intended.  There is a wealth of information offered. 

This link will take you to a short video that describes the background of the system.  The video is a bit cheesy and probably does the system a disservice because the quality of the system really doesn't require a pitch video.  Towards the end of the video you'll have the option to purchase the system.

Make Money at Home: Cash for Surveys Review

This week I'll be reviewing the Get Cash For Surveys member site.  This money making idea involves filling out surveys for payment.  The idea is simple. Companies spend billions of dollars on market research to fine tune their products and advertising.  They outsource the market research to companies that specialize in gathering data.  And how do these market research companies entice consumers to complete their surveys?  They pay them.

The value in Get Cash For Surveys is the database of 100's of market research firms.  To begin making money you'll need to join as many of these firms as possible.  They collect some general information from you to determine your demographic and which surveys are most appropriate.  Some of these firms will immediately give you surveys to complete, others may take a couple weeks to begin sending them.  The trick is to join as many of these companies as possible.  This will ensure that you will get a steady stream of surveys.  I recommend dedicating an email address just to joining these companies.

Surveys pay anywhere from a few dollars for a 3 minute survey to $100 for an hour survey.  This is certainly not a "get rich quick" strategy, however 10 minutes an evening may end up paying for your car payment at the end of the month!

The one-time cost of membership is $37 if you use the coupon code "save50" at checkout.  Please view my video blog below for additional information.

For those interested in the result of last week's product, it was not positive.  I back-tested a few days with roughly a 50/50 win rate.  The nature of Binary Options is that you win 85% or lose 100% so you need to have a good win percentage to finish ahead. I do not plan to continue testing this product.

Binary Options Bully Forex System - Initial Thoughts

This week I'll be reviewing Binary Options Bully.  I purchased this product for $77 with a 60-day money back guarantee.  The nice thing about this product is that it's a system for trading and not a monthly subscription service, so no recurring cost.  The claim is that you can make significant profits trading binary options outside of your 9 to 5 job.

If you're not familiar with binary options, it's simply placing a bet (in the form of an option) that a foreign exchange currency pair (Forex) will end above or below a target price after a specified amount of time.  For example if you buy an option that it will close higher than the target and it does, you will make an 85% or so profit.  If it were to close below the target you would lose your investment.  Your investment can be as little as $25 per trade.  If you're not sure about binary options you could probably use this system for traditional Forex trading; however, there are no exits so you may want to just set a standard "take profit" such as 10 pips. So now all you need to know is which way the price is going to move during the next 15 minutes.  That's where Binary Options Bully comes in.

Once you purchase the product you will download a zip file containing a 53-page instruction manual PDF, a pivot point calculator in both Excel and Open Office (free spreadsheet program) formats, and instructions for the calculator. 

The system is fairly easy to understand.  You'll need to use an MT4 platform on a 15 minute minute chart to get some data from the prior trading day.  Pretty much any Forex broker will allow you to paper trade an account and give you access to a live MT4 platform for free.  Once you have your data you plug it into the spreadsheet to calculate the support and resistance lines.  You then overlay the lines on the MT4 chart.  Now you're set up for your trading day.  You'll work under a few simple parameters to find potential trades.  If everything checks out you place your trade just before the next 15 minute bar.  If you are successful you will have just earned 85% in 15 minutes.

I'll be test driving Binary Options Bully this week and update the blog next weekend.  Follow me on Twitter @CraigsMoneyBlog for daily updates.  Have a great week!

The Triumphant Return of Craig's Money Making Blog

It's no coincidence that my last blog post was a couple short months before the birth of my second daughter. Two kids, advancing my career in banking, and everything else in life left me with little time to continue my pursuit of the holy grail of money making opportunities.

After over 3 years away from the blog I have a renewed interest in continuing my search. I discovered many new and interesting opportunities to review. This time around I plan to be more diligent with posting. My goal will be to review one new product each week and give weekly updates on the ongoing performance of previously reviewed products.

I am excited to take advantage of a form of social media that wasn't popular when I previously ran the blog: Twitter. I'll use Twitter to update my followers on new blog posts and product performance. I'll also be available for questions and comments. So please follow me @CraigsMoneyBlog.

Here are some products that I plan to review in the upcoming weeks and months:

• Binary Options Bully - This appears to be a manual technical system for trading Forex - Foreign Exchange Currencies.  I like the fact that this is a manual system, not a trading bot, which means I don't need to pay for a private server.
• Penny Stock Egghead - This product peaks my interest because I know the power of penny stocks. My brother-in-law turned $200 into over $10,000 in a year trading penny stocks. 
• Get Cash for Surveys - I doubt this product is making anybody rich but I've always wondered if there was any truth to the claims that people make money simply filling out surveys. Heck, if I can make a car payment from taking surveys while watching TV I'll take it!
• 100 Percent Winners -  This appears to be software that calculates baked in profits on wagers. This is not a matter of picking winners and losers, it uses arbitrage to calculate profitable scenarios between two different bookmakers.

I'm looking forward to sifting through the trash and treasure of money making opportunities. Let's make some money together!

Sports Betting Champ Undefeated this Season!

Hi All,

It's been some time since I've updated this blog. During these volatile economic times I have shied away from Forex and Stock trading. It's difficult even for the most seasoned trader to profit given the wild swings that we've experienced. Keep checking back as I will get back into the market at some future time!

I did want to mention that Sports Betting Champ is currently undefeated (74 Wins, 0 losses) during the current NBA season. This system is a good way to diversify some of your investment dollars away from high risk forex and equity trading. Please check out my past Sports Betting Champ posts for more information on this wagering system. Also, if you do decide to try the system, don't forget to order the Betting System Maximizer to limit your risk if we do experience a series loss.

Happy Spring!

Craig

Forex Autopilot Reaps Over 4,400 Pips in 2 Months!!

If you're an avid reader of my blog you know I haven't had much confidence in the new version of Forex Autopilot. I was burned on the original version and brushed the new one off as more of the same. I have now compiled over 2 months of demo data and am compared to make a prediction: The new Forex Autopilot ROCKS!! From 9/4/08 to 11/11/08 the trading robot racked up over 4,400 pips. Here is the actual demo statement.

Here are a few tips to keep in mind if you plan to run the FAP on a live account:
1. Practice proper money management. My maximum drawdown has been 1,500 pips on a 1 mini-lot per trade, 2 max trades, account. I would recommend a $3,000 starting balance for a 1-mini lot setting. If I started with a live account of $3,000 on 9/4/08 my current balance would be $7,366, a 146% ROI.
2. Let the EA do its thing. Once you tamper with trades you are undermining the purpose of having a trading robot. If you're like me you'll check your trades about once an hour and freak out at the first sign of a loss. You need to keep a cool head. I don't recommend checking your account more than a couple times a week.
3. Don't trade with money you can't afford to lose. None of us can predict the future so be prepared to lose a substantial amount and if you can't handle that concept don't risk it.
4. Use a Virtual Private Server for trading. This ensures that you don't have to worry about your computer crashing.

Til next time,
Craig