NonDirectionTrading.com Review

Hi all. I used this strategy for two months with little to know success. The author timothy stevens gives great materials and seems like a great strategy at first but if your not careful you can lose you whole account. The strategy involves using a short straddle option technique and then offsetting this strategy with two stop postions a buy and a sell. Your supposed to in essence finance the forex postions with the money you will make from the short options. In theory it seems like a great strategy but in reality I could not get it to work for a few reasons.
1. The bank that the guy tells you to use is Saxon Bank. Because of the way you have to set up his strategy where as you use both plain vanilla options and spot forex at the same time this is one of the only banks that offer both. The others where tradeview forex and think or swim. I did not try his strategy with think or swim because they dont offer true 24 hour forex.
2. The options part of his strategy is based on the fact that you have to keep resetting the postions every 24 hours at 10:00am ny time. SO if you live in a different time zone this may be a problem. To add to that the brokers who Ive listed above excluding saxon wont let you set 24 hour option expiration trades. Saxon will, Tradeview makes you wait like 48 hours, and did not try with Think or Swim. Next even though the strategy is billed as a set it and forget it strategy, it depends on how far the market moved away in either direction. In this 24 hour period if one of your postions gets stopped out then you have to reset it. This means that if its 3:00am in the morning when the london market is active if you postions gets stopped out you have to wake up go to your computer and reset the postion. Otherwise you have a naked straddle which can lead to unlimited losses if you do not put on a new spot postion to cover the naked side of the straddle! I was using my sms on my blackberry to get call level alerts from my other broker whenever the postions hit the stops so that it would wake me up in the middle of the night just to reset the postions! God forbid your phone service goes out or you dont hear your phone ring. You might wake up with your entire account or a big part of it gone!!!!!!!!!
3. Finally to add to the last point the author Timothy Stevens says on his tutorials that your supposed to get a certain number of pips value or money in your account when you use his strategy because when you do a short straddle you get a credit to your account. However based on this once you do it and follow the instructions that he gives for the system you quickly realize that the trades you put on dont have enough wiggle room to work before they get stopped out. Example you might only have a 20 pip stop loss from your original postion that you must leave on for 24 hours. Any experience traders no that in 30 seconds the market can move + or - 20 pips. I did some caluclations and if you could get a 50 pip spread then you could make this strategy work barring you can be on call and wake up 4 nights a week to keep resetting the postions once theyre stopped out. Also the way timothy has the trades set up you only get two chances to be successful everynight! So it it gets stopped out in that 24 hour period more than that your taking loss after loss after loss. One night I got stopped out 6 times!!!!! Even though the next morning when the options expired I made 2 of that back I was still 4 short!

So like I said in theory its a good strategy, however if you cannot get that 50 pip spread credit from the options, and if you cannot wake up in the middle of the night to keep resetting the postions and if you cannot find another broker other than saxon that allows 24 hour options expirations. Than this strategy will not work. If anyone has any questions you can email me at kikiamillion@hotmail.com. Thanks.

PS If you try to get longer options expirations like three days or a week like the author suggested when I asked him, you will get even more losses!!!!!!!!!!