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I do not have any experience with this company. If you do, please kindly submit your review.
Steve Sharp, San Diego
Rating:
Date of Post:
2008-11-01
Review:
I think you were the guy that made the comment in the trade-room about no longer getting the feed. That prompted me to ask John-Harry what was that guy talking about no longer getting the feed. I am so green at this that I just finished Idiots guide to currency trading. It wasn't that beneficial by the way but it made me think about scams so decided to Google Andy Shearman since I just leased the software. I thought with the internet there just might be something negative out there that I should know about. What a relief to find that this is all a disgruntle person could say. A co-worker of mine recently got me into currency telling me how easy it was and with his system he made $18,000 in his first two weeks of live trading. Well I got on a micro account and trying to do what he did I lost $1,250 in two weeks. I did everything wrong in one week before studying a weekend and stumbling on Andy Sherman. I have done a lot more studying and I now know this is not easy. The software may simplify things but currency trading is not easy. The live moderation lets you know it is not easy. They remind you to be patient, cautious, not be greedy, and they are not perfect either. BUT they are worth the price of admission win or loose you are not alone. They will help minimize your losses also. Listening to Andy Shearman reinforced the fact that I had no clue following my co-workers simple system. By the way my co-worker came in office hanging his head saying he lost $10,000 in two days. I called him to tell him how people were pulling out 200+ pips in Miami Bills Asian session the other night. I made 33 pips without trying and laughing my head off while working at my job and carrying on a conversation with another co-worker trying to explain currency trading. It seems most of the people I talk to don't know anything about currency trading. It also seems that many people that demo the trade room don't know that they get ongoing guidance from experts. Maybe you know too much to be a part of this but there are alot of us that need the handholding. I hope that I outgrow them and I am able to trade on my own some day but I would be okay listening to them forever if I was making money. Bottom line knowledge is power and I need all I can get so I will be in as many sessions as possible following along with the moderators. What I have witnessed in the trade-room so far is that it will be my own fault if I don’t make money. Lastly I have not heard back from my co-worker and I am afraid he will have to learn the hard way on is own as many others try. I think he will be blown away after I invite him over to observe one of the sessions. Ongoing training and reinforcement is priceless.
Kevin McFall, Ann Arbor, MI
Rating:
Date of Post:
2008-10-30
Review:
I have used this product for about a year and I would be lost without. I is a shame that anyone could put negative feedback as the product simply works and works very well. The software is based on sound and proven dynamic Fibonacci calculations in multiple time frames, making a terrific scalping tool. I have found that traders who have tried it and found it to be unsuccessful, are those who have attempted to co-mingle both scalping strategies with long-term position strategies. By including additional technical tools, only will confuse the trader and lead to frustration and ultimately, failure. I am a scalper, and I easily produce an average 50pips/day using the MoneyMap Grid. I found when I go through the “free” tutorials and truly work on understanding the system, then by following the moderators (24-hour service), I can be very successful in making my profit target everyday. I trade during the London and the first part of the US session, where you are treated as a “team member” in the trading room (also open 24-hours), and can follow FXMM moderator suggestions by seeing their trades in “real-time”. So, I can follow their trades on entry’s and exits. If they win, I win. And they are most always correct. You can also ask any trading question you wish and the moderators will respond and treat you with respect, no matter the question (and I realize now that I have asked some dumb questions). The moderators have also developed several trading strategies that when used with the gird, help you to become successful and pre-empt their trade suggestions. FXMM’s Asian moderator is also terrific in teaching how to how the forex market functions and what pitfalls to look out for. FXMM also post their London and US session pip count, that are time referenced so you can back test their results. Regarding the cost (remembering that there is so much that is offered for free), most team members record that they make all the product cost back in one week. That’s a great return in anyone’s book. Simply put, I have not seen any pricing software that has the credibility that FX MoneyMap does. You can always visit in a free webinar to evaluate yourself (that’s how I found them).
James Alliss, UK
Rating:
No Rating
Date of Post:
2008-10-26
Review:
NZ Chris, I have never had a problem with you Sir and perhaps I have been a little too negative about this product. You seem to make money from FXMM and so do a few others.
I felt insulted by the remarks posted by Sam and Martin W, particulalry Martin as I use to try and help him. I have never even spoken to Sam so for him to make comments that are totally untrue just "added fuel to the fire".
I promise you that I did genuinely lose a lot of money by using FXMM as a standalone tool which is why I started to post where I thought trades were heading (which were mostly correct) but not using FXMM to give precise entries. I could not announce to people in the room that my account was being destroyed using the tool as that certainly wouldn't have gone down well!
It's worth adding at this point that since I stopped using FXMM I have lost only 2 trades in two weeks and grown my account by around 20% using my own analysis.
What most of the people in the room didn't realise was that I was sending a lot of useful information to the team, helping customers via private messages and genuniely trying to help everyone in the room and for what? Andy refused to offer me any kind of benefit whatsoever for my time so I told him I wanted to leave. My status was never revoked, I quit!
I don't know if you offer your services for absolutely nothing in life because I certainly don't!
I posted very few trades during my time as a moderator as I lost all faith in The Grids and didn't want anyone losing money. Based on the trades I did post, I was profitbale at the end of each month and I know many pepole made money particularly from my longer term analysis. I can back this up if anyone needs me to.
It's unlikely that those people I helped will post a review here as they will be concerned about their feed being cancelled which I understand, but I've always been honest about my account of events and will continue to do so.
There are some very good traders in the room, particulalry Kashif, Miami Bill and Wolverine and it's worth subscribing to the Trade Room to listen to them. What I can't justify is the price for the software itself and the ongoing data feed. Like I said before, if you add the EMA's I talked about to your MT4 charts and used a demo account for your feed then you'd save a fortune!
To everyone who has already purchased the software I wish you good luck but for anyone considering buying the software you are advised to read through the reviews on this site and make a decision for yourself. If you can afford to spend $5,000 for the software and another $199 a month for the data feed then go ahead, it's your decision after all but don't expect any refunds!
Good luck.
James Alliss.
NZ Chris, Now UK, was New Zealand
Rating:
Date of Post:
2008-10-24
Review:
Well now James, we always got on but I am extremely offended by the "lapdogs" comment. Big fat sour grapes coming out from you by the sounds of it. If Moneymap is not for you then so be it but there really is no need to insult members who do make money from this system. You persueded Andy to make you a moderator, you were not asked and it just didn't work out. That's neither Andy's nor the softwares fault, if your trades were based on the grids then money is there to be made as Andy, JH, Kash, Wolverine and many succesful members can attest too. Enjoy your trading, make some money but dont rubbish something that works extremely well for many, many other traders just cos you got the hump.
2008-07-28 5 stars I have been using the software since December 07 and like any tool you HAVE TO LEARN IT. It is avery different system to technical charting and I have had plenty of success with it. It is not a Black Box system and requires the trader to use their own reasoning but the more I use it the better it gets, giving indications of trades that you couldn't possible see off a chart. Learn it, Use it and Make pips.
Kashif Aziz, UK
Rating:
No Rating
Date of Post:
2008-10-24
Review:
I think its worth while be putting across a trading moderators prespective on this. I am one of the moderators on the trading room and use FXMap for 99% of my trading and it works!!! I make consistent calls in the room and my record speaks for it self. I comfortably make 1500 pips+ per month using this software without stress. My comments extend only to the product, I have paid for the software ages ago so cost is not an issue for me. I don't deal in sales so no comments on that. It works for me, its easy for me and its as simple as that. I dont get paid by moneymap for saying this, I am only posting this as I dont like people for knocking a product I genuinely believe in.
I have 2 further small comments, Moneymap only works for you if you spend the time to learn it and understand it , I do hence my success with it . I have a deep understanding of it, a deep conviction in the trading sets ups I use. These I have released to the clients for no cost and they work, not all of the time but most of the time.
With regards to James Alliss comments I thing moneymap is outstanding for short term trading, long term in a volatile market I am not sure. Perhaps that is where is doesn't suit some peeople. Would you use a F16 fighter jet for crop dusting !!!
Enough said.
In conclusion , purely from a trading point of view, I would challenge anybody to show me how moneymap does not work especially if you use my kind of strategies.
GEBS, USA
Rating:
Date of Post:
2008-10-22
Review:
I was just reading over various review and came upon this chain. I don't know James although I did see his name in the window when I first started. I can not speak to his claims, but I can offer some quality perspective from a relatively new FXMM trader.
1) As has been previously stated disciplin is the key. I struggle with this everyday, but if you employ good money management techniques you can mitigate risk.
2) "The Map" apears to me to be a very good tool. I have only been using it for a month and a half, but my success rate is well above 80% positive on my trades. The key is that it is a tool. I am not sure how Andy feels about using charting systems and indicators on your own charts, but it is possible to do this and take the combined information to make good, safe and secure decisions to enter and exit trades. You don't have to give up everything you know. I used multiple indicators in the past and continue to do so now. As is the case with any tool, it is possible to misuse it if you do not understand its proper use.
3) There are many styles and FX trading is an art not a science. There are many kinds of artists who use many different tools and see things differently.
4) Even if you just entered and exited trades with the moderators you could still make enough money in a short time to pay for the cost of this tool. I did. Note: the management of FXMM recomend that you spend 2 - 3 months demo trading and learning this system before executing trades with real money. So they are not asking you to rush into a burning building. Quite the contrary, they want you to be safe, get educated, and have a long career. I went faster because I needed to, felt I was ready, and believed correctly that my past training enabled me to grasp their systems faster than expected.
Finally, I have to say that while I do think this is a great product I do wish there was more discussion of information, systems, and styles that work outside the map. I believe that becoming an educated expert in the map as well as other systems is the only way that I can develop longevity as a trader. I'm sure the have their reasons for not allowing the discussion of outside information though. Since systems are ultimately always based on rules and can only be successful if the rules remain in tact it is important at times to accept the fact that you can spoil something great by introducing outside variables. So, Andy does have a right to ask us to be careful about this.
THE FX MONEY MAP WORKS IF YOU FOLLOW THE PLAN AND LEARN THEIR TRADING SYSTEM. IT IS WORTH THE MONEY IF YOU CAN DO THIS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
James Alliss, UK
Rating:
No Rating
Date of Post:
2008-10-21
Review:
Ah, what a surprise, I have given some truths here that have hit home to Andy and now his lap dogs have started to bark because Andy has let them off their leashes to try and take a bite at me.
Well little doggies why don’t you go back to your master and do as you’re told like you obviously have here by posting these reviews as Andy asked you. I know there will be plenty more of this to come and you will deny that Andy asked you to post that nonsense but I have nothing to hide. I was expecting this after I received a voice mail from Andy.
All someone has to do is go through some of the live recorded webinars and Andy talks about my trades and how he wanted to progress me up the ranks. I really don’t care what you lap dogs have to say as I’ve given an honest account of events. You’ll see from many other reviews about this product that it’s not just me who has been negative about this product.
Martin, there is no “poor me” here my friend. I make good money without using this software. I feel perhaps that it’s poor you for trading so blindly. If you think you could do a better job as a moderator then be a man and have a go yourself and that goes to you too Sam.
Sam, you have no idea what you’re talking about and I have never spoken to you so don’t talk nonsense. Andy asked me to be a moderator and put me on trial. My status wasn’t revoked, I quit because Andy expected everything for nothing and I can prove all this if needs be.
I agree, a lot of my trades were longer term trades because whenever I tried to make a trade following Andy’s software I lost again and again. Funny how apparently the other moderators wanted me removed yet made money from my analysis. I use to send private message to Andy and JH to prevent them from making wrong trades following their own software but this will never be admitted I’m sure!
Sam, if you think you’re man enough to try and step up to the plate and announce your trades to everyone in the room then you carry on.
If it wasn’t for the two moderators Wolverine and Kashif, the room would make very little money because the calls made by Andy and JH are about 50% accurate. I have a lot of respect for both Wolverine and Kashif as they are both consistently profitable although Kashif’s entries were a little hard to achieve some times. Wolverine is the best trader I’ve had the pleasure of speaking to and is a credit to FX Moneymap.
There is one positive thing I would like to add and that is Wolverine does seem to have mastered the software so if you were to purchase this then follow him and you could make money. I don’t know if he uses this with other analysis but he is an excellent trader.
If you want to keep this going then carry on, I will only tell the truth so that other people can save money.
James Alliss.
Martin W aka The Caretaker, UK
Rating:
Date of Post:
2008-10-20
Review:
Just to provide some balance to James’ post
I am on the live trade room daily and must declare my interest as a current (but non trade call) moderator of the trade room.
My understanding is that James asked Andy Shearman makes him a trade call moderator, as he had, for some time, being saying how he was able to make money for everyone.
He was given temporary moderator privileges to allow him to show what he could do, but sadly never made the grade as he ignored the Map in favour of his longer term analysis, which didn't make reliable intraday gains.
During his 3 month trial as a trade call moderator his total of pips made amounted to 155, this compares with the other 2 trade call moderators in the room who made 4798 and 2099 respectively over the same period.
They seem to manage the “stress” somewhat better than James.
It is interesting to note that the moderator who made calls to the value of 4798 does, like James, hold down a full time job.
James’ moderator privileges were therefore revoked and his trial period ended.
I do feel there is an element of “poor me” in this post, particularly as James’ previous comments, when he was hoping to be made a moderator, were so obviously positive about FXMoneymap.
It’s a shame that he couldn’t make the grade, but Forex trading isn’t for everyone.
During his time in the room, James was constantly talking about money management and never once mentioned that his account was being “destroyed”, in fact the majority of his posts that related to his own trading were glowing tales of how well he was doing. If he did declare any loses it was accompanied by the comment “it was only a small lot” or “ I only ever risk 1% of my account”.
2008-07-28 4 Stars What I don't understand is why, when someone strikes out on their own in an entreprenurial venture, they are deemed to be doing something less than when they were employed. I have used moneymap for many months and as time goes by have been more and more impressed with the quality of the product and the trades that are publicly placed by the moderators in the trade room, these being live trades by the way. Maybe its sour grapes on the part of those still sitting safely in they cosy employed comfort zone.
Sam, Miami Beach
Rating:
Date of Post:
2008-10-20
Review:
In response to the previous post---
James---> I am also a forex trader that trades with Andy in his traderoom daily. I remember you and your posts..
When you started, all you would do is complain how you did not have moderator status, (even though you did not deserve it). Once Andy gave you a chance to moderate, you just made what seemed to be random calls, and most of our traders did not follow you anyway..
Your trade calls rarely followed the strategy and discipline that Andy tries to instill in his traders, and although I don't know the exact reason why you were removed as moderator, I do know you were NOT asked to be moderator, you wanted it... and other moderators tried to have you removed because of your random trade calls.
In fact if you look at all of our moderators track records...you will see very respectable results for all EXCEPT you James.
The fact is James, you never developed the discipline to be a successful trader, and when you received moderator status, your trades became transparent, and your track record could not hold up to your wild claims.
James, the grids are a scalping tool, and you constantly tried to make 'long-term calls' that rarely panned out. The fact that you wrote that review just shows your true colors, James. You abused a fantastic opportunity and now you are bitter..too bad for you.
And as for the 'FREE' information you claim you gave...the information you gave came from an undisciplined trader..you! And I can assure you that nothing you have said is being used in this traderoom to make money.
We have hundreds of active forex daytraders in our room, and we have a transparent track record that can not be disputed.
Since I joined with Andy, my personal trading has never been better. I basically owe my whole career as a successful forex trader to Andy and the FXMoneyMap.
To anyone considering trading forex for a living....DISCIPLINE IS KEY!! If you don't understand this...don't trade!
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