I like that the EA has excellent indicators that show trading knowledge.There are a lot of EA's that will give you nothing.The EA parameters are a little temperamental so be a little careful on the settings.
This system is just like a lot of the higher priced systems if you want to compare it to others.I have used the system for little over ten months now and I think the system is pretty acurate and consistent.Results show an average of 71% with a positive result.Don't get me wrong,the system has some need for improvements but what system doesn't need a upgrade or tweet once in a while.Overall the 5EMA's-Forex-Trading-System by Adam Burgoyne is an awesome system i have come to think.I see a lot of reviews that are negative, but i guess you could have the best trading system or trading course in the world and there still might be a downside for anybody that tries any kind of trading system.But i am pleased with 5EMA's-Forex-Trading-System.
I too have tried this system and as a professional trader, I'm disappointed in it. Communication with Adam was a roller coaster.
Another one I tried, total rubbish.
Request for a refund was met with excuses & evasion of issues that prevented me from using the system - I was told by Adam "...prove the system doesn't work & I'll give you your money back - if you can't prove it NO REFUND - these are the terms you accepted when you bought the system...." The website had a "100% Satisfaction or money back Guarantee " which he failed to uphold - I also had an email from an associate of his who had promoted his system - he had received numerous mails complaing at his involvement in reccomendeding the system by dissatified previous purchases - he was attempting to calm the waters - if I received his email before I bought, I would have never purchased as it was obvious there was mass dissatifaction from people all over the world his associate was trying to save face I think, but the damge had already been done - Avoid this scamster - he's an unethical, dishonourable scamster - not to be trusted.
Don't invest anything in this course. The seller is kind and promptly refunded me. But you can freely find the same and better performing material searching on internet. Two stars only for quick refund and informative material for beginners.
I bought this system. It definitely provided a lot of information and the alerts for meta trader were nice, but the signals seemed to have no reason behind them and despite spending a lot of time trying to work out when they were actually effective, the price seemed to move in the opposite direction 50% of the time. Thus I can't really recommend it.
I strongly disagree with a previous review on this system. In my opinion this is a quite mechanical system which tells you when to enter and when to exit. You have 3 different exit methods, the 20 ema, the divergence, the trailing stop. So it tells you exactly when to enter and when to exit. Of course, you need a lot of self-discipline and to be coherent with the exit methodology which you are using. Definetely not a good system for the newbie. It has a huge potential (I caught >400 pips moves more than once) but I rather trade the breakouts than the pullbacks. Lastly I would say that if you dont know how to calculate support and resistance levels with accuracy forget about this system because it is useless without them. Price and customer support are good. For me this system is an asset.
2008-05-24 Update This is my 2nd review of this system, thus the system isnt good on long term and its not flexible enough to deal with fx market. However, I didnt regret the money I paid (I bought the advanced module) because the divergence indicators and divergence course are indeed worth the money (thanks to divergences I made some nice profits). So I keep my rating.
I like the fact that the EA came with indicators so you can gain some trading knowledge. I have bought other EA's that show you nothing. This system tries to get you trading with the trend. You can set some EA parameters yourself so you need to be careful. I have only used it for 2 weeks. I have some winning trades some losing. I didn't ask for my money back because what they give you I think is almost worth the $97.00. Some would disagree. I am still looking for a better system though.
Anybody can easily come up with a system on how to enter a trade, but if it does not tell you where to exit, it's basically useless. This system is no exception. It tells you when to enter to market , but you have to exit at your own judgement. However, if you're a beginner in Tech analysis, this book can move you up one level.