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been using them and it's a great product - i agree with the other reviews. One thing i would like is a live trading chatroom. Any ideas about this ?
This is one of the easiest methods to learn for trading forex. Yes, the PIP gains on each trade are small, between 1 and 9 PIPS on average, but the losses are even smaller, no more than 4-5 PIPS per trade on average (and that is if I am being stubborn.) I certainly can remember lots of trades where I have been 20 or more PIPS profitable which ended up being only a few PIPS net profit once the trade completed, and they took a lot longer than 10 seconds to complete (the average trade seems to be less than a minute for me, trading during active hours (London/US sessions.) Pros - Easy to learn and lots of practical tips for choosing brokers, profit expectations and optimizing your computer for scalp trading (something I had never considered in the past.) Also, the author seems to genuinely care if his clients succeed. The training videos that come with the software at no charge are pretty much good enough to trade the method (premium videos are also available - I bought them and have listened to them often.) Cons - You do need to sit in front of your computer to trade this method. If you like doing that (I do) then it's certainly a strategy to consider. If you don't like sitting in front of your computer all of the time, then try to find another method that suits your preferences (I like to swing trade too where I can set-it and forget-it.) Also, the web site is very "salesy" which almost talked me out of buying it.
As a customer of Logical Forex, I can say that this is the real deal. Greg honestly cares for his clients, as is evident in all the content (both video and written) on his website. He is also a trader of his own system. He instructs his clients to 'go with the flow' of the market, which is limited neither by the close of candles or the crossing of moving averages. This the the ACTUAL flow of the market. His system enters the markets at the places where the true decision makers - institutional bankers and the other BIG players in the market - actually trade. It does not require you to sit at your computer 9-5 every day - just 30-60 minutes per sitting. The pip gains are not large - an average of 4 or 5 pips net - but the probability of success is very high which means that you can trade many lots providing a very nice return. Greg provides a lot of instruction on managing prior trading habits and dealing with the emotions of trading - which, honestly, is worth the price of admission. Greg is the real deal. He doesn't promise 'pie in the sky' and he actually knows what he is talking about. He is definitely not one of the many forex charlatans that are prowling out on the Internet. I give him the highest of ratings - and look forward to many years trading is system solely.
Logical Forex is a Scalping Indicator System. It uses a complex colorful custom script that runs on NinjaTrader to identify Breakouts of 4 to 10 PIPs. Price is represented by a white line (not candles) and has 7 different indicators with numerous moving averages displayed as to simulate price action as a "flow". I have been using the system exclusively for Forex for several months with great success. Once you learn to see the patterns it is uncanny how they repeat themselves. Compared to a 1 min candle chart, Logical Forex makes it much easier to see setups. I have been able to get 2.5 PIPs 8 out of 10 times repeatedly which makes me feel confident to raise my lot size... Cost: $78 monthly fee for access no setup Training: There are several videos and learning tools on the website additionally you can purchase a personal 2 hour workshop with the developer (Strongly recommended) one of the best training tools is the "Market Replay" which allows you to capture the Forex data during the session and play it back later at practice. (up to 30 times real time) Support: Excellent , although there is no phone number the ticket system is monitored 24/7 and responses are very prompt. ...the staff believes in the product Pros: The system does work and they stand behind it. There is a weekly BLOG that is extremely helpful. There are actually demo videos on the website of live trades. If you are new to Forex trading it's the only system you will need to learn. Cons: It's not like watching candle or bar charts so be prepared for a bit of a learning period... as with any scalping system you have to have a good broker with a thin spread. Additional the http://www.logicalforex.com/ website is not organize well and the material sounds like a sales pitch.
The system has a goal of 3 to 5 pips per trade on a 1 range chart. If you'd think about it for a minute you'll see that it is bogus proposition to begin with.
I must admit I have bought and tried a number of forex programs over the years. This program has pleasantly caught me by surprise. It works on Ninja Trader, and if you are an experienced trader you will find the indicators very intuitive and drawdown for poor trades very low. All in all it is a great program, I have been finding winning trades over 87% so far. This is a mechanical system, and I have found the longer I use it the better I am getting at it. Also they have excellent training and support. I know I sound like a commercial, but I am just so wrapped with this program.