FxRedPhoenix.com Review

I have both Red Phoenix (RP)and Green Dragon (GD). They are slightly different in that GD requires some level of subjective analysis for entries and exits.

RD seems more objective with specific points and rules of entry and exit based on the chart and indicators.

I have traded both in demo accounts and found them acceptable as long as sound money management and position sizing are applied.

Here's my rub though... Back when I purchased them, back in April, the deal was like $97 and was supposed to be a limited offer. Of course since then, every affiliate in the world has sent me an email about it and I've seen it go for as low as $19.95.

Now I don't mind because I never thought a $97 system was going to be the holy grail in the first place. I just like to try new things and see if there any good.

But, in the end, this system is not much better performing than a good basis in price action with strong discipline and money management skills.

Unless your just experimenting, save your money for trading and study the lessons available for free here at FPA or elsewhere on the internet.

Never believe that ANYONE will sell a truly significant breakthrough trading system for peanuts, nor that they are in any way interested in your success as a trader.

Caveat Emptor...

Actually, I've been using it. One of the best systems I've ever used. It's my main system now. Signals are very good and sound.

TL

Rather than a review (I have not used the system) this is a heads up gut feel opinion that one should steer clear of purchasing this system. This opinion is based on the following facts which individually may not say a whole lot but collectively speak volumes (in my opinion):

1. The system is sold through an onlline webinar that is claimed as being "live" in the email solicitation that you receive. In fact each webinar whether hours or days apart is the identical recording as every other webinar that they put on and is not live at all.
2. At some point not quite half way through the webinar they put the system on sale stating that only 45 copies can be made avaiilable (for the usual reasons, provide support, blah, blah, blah). In very short order they begin talking about having to close down the webinar in just a few minutes even though you are looking at a clock with more than half the time left. You are supposed to read that as meaning copies are selling out, better get yours fast. Needless to say they do not shut down before the entire hour is up and, in fact, add three more minutes on saying that it will take their team that long to take down the order page so you can have a few more minutes before they are gone. In fact the order page does not go down for hours after the webinar ends and you can still order.
3. You are told that there are some 5700 attendees at this webinar (just recording played over and over) and there are several thousand more (from various sources) that have shown an interest in the system. At one point you are told that they have already received a "large" number of orders. The entire 45 copies is less than 1% of the current stated attendees alone so I am not sure what they think you perceive about what is a "large" number of orders. Fact is the system is still on sale well after the webinar is over.
4. During the sales pitch you are offered six bonuses some of which, you are told, are only avaiilable to the first 10 purchasers who "act fast". At various points during this time they read names of people from their "questions" box who are telling them that they have purchased the system. Of course, the names are always exactly the same (its a recording) but if you add them up the total is more than ten. Fact is I went to the order page after the entire time limit was up and connected to a live "chat" person (you have to close the first order page without ordering to get the page where chat is available) and asked if ALL six bonuses were still available and was told, "yes, but only if you order now" even though by their own count the bonus (for the first ten) was gone.
5. During the presentation there is a reference to an 87% win rate as being the most recent (I think annual) figure available (not that they are going to guarantee you that rate). They refer to their losses, when incurred, as a "drop in the ocean". If you use the most conservative figures for reward/risk ratio this system still calculates to a huge profit factor implying that it should rake in the cash. There is much emphasis about you being 100% satisfied (words). There is a sixty day money back guarantee. However, after talking about making sure you are satisifed they throw in a requirement that you send them a thirty day trade sheet and only if the trade sheet shows a net loss are you eligible to receive your money back. Fact is then that despite all the talk of 87% returns and small losses all they will back up is that the system will break even.
6. If you do decide to take them up on their guarantee, the best I can say is "caveat emptor" (you will have to look that up if it is not that familiar). The deep discounted, rock bottom price of the system Is still $997.00. More than I would want to risk without knowing I was in total control regarding any return policy. I asked a question regarding any requirement to trade all of the systems during this 30 day period. Well after the webinar I received an email response (because the webinar is just a recording) stating that the "official" policy is that all systems should be used but that even just one would be acceptable. Fact is there is NO official policy stated or referred to during the webinar or stated or referenced on the order page or ANYWHERE else. So "policy" is what they decide it to be. I predict there will be a significant number of people even with a "losing" trade sheet that will be talked out of getting their money returned.

With those six items I will stop. If you take each of these six threads and put them together, I find that they form a very strong rope and it is tightly tied to the word "deception" and that is the single adjective that I would apply to this system presentation. I offer this opinion to whomever and for whatever it may be worth.