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fxmoneymap.co.uk (Andy Shearman)

Discussion in 'Forex Software' started by Administrator, Dec 20, 2007.

  1. Administrator

    Administrator Just Administrator :-)

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  2. Michelle 511

    Michelle 511 Recruit

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    I am a very new subscriber to (and I might add new to forex trading) FXMoneymap. I recognise a few names from the posts - all of whom have been extremely helpful when I post questions and ask for help.

    Each day, I log straight into the traderoom and my demo a/c and I listen to all 3 x 2 hour sessions with very experienced traders (moderators) who offer not only valuable insight into learning the grids but advice on money management, control, minimizing risk and when they feel a currency pair might be good to enter short or long. All the while, announcements are made that traders may or may not wish to take on board.

    As I am in a demo a/c and learning, I make a lot of mistakes but I regard this as part of the learning process. I also make some very good trades based on advice and I think a gradual understanding of how to read the grids.

    I initially bought the 3 month lease option but when I weighed up the pro's and con's of after 3 months having to upgrade and buy the whole thing which would have added an additional $2K to the overall package, I decided to take the plunge and also book myself into a training session with them at the same time.

    Prior to this, I researched the market intensively - it is difficult to separate genuine from scam sites (especially white label/affiliate sites) and I even personally visited a major UK trading platform. I also researched training courses.

    Whilst the investment is high - the return if managed properly far outweighs this and the support infrastructure through the chatroom, seminars, training courses and live trading sessions is invaluable - I cannot find anything else of equal merit.

    Obviously time will tell whether I make it or not but I will give it 100% effort and I would be quite happy to post an update in a few months time when I feel ready to risk some real capital to let you know how I get on.

    On the subject of hard sell - yes, they are strong at pushing their product but I am equally sure that if you still felt worried, they would support you further to try and reassure you as to the investment you are making. If you visit their fxmmtv site you can see the level of investment they are making in IT hardware to support their systems and training programmes.

    So far, I have nothing but praise for them in reaching a customer market that is understandably reticent given the notoriously bad reputation the industry in general has created for itself
     
  3. Nimzo

    Nimzo Recruit

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    A fine service

    My, there's a lot of positive reviews suddenly. Well, here's another one.

    My creds are that, new to fx, I have spent much time researching the sites and offerings, including a few months as a member of fxmoneymap. On the topic of FXPeaceArmy, you seem a very valuable service considering the sharkpool in which we try to operate (and of course some knock you too), so as a grateful user I ought to contribute some comments.

    To spell out something not made clear so far: the moneymap is not a scheme or method, it is a way of viewing the data that allows you to see patterns not obvious elsewhere. In the end, it is mainly a concentration of fibs and MAs with, crucially, several timeframes. That is not to belittle the achievement of Andy and the developers; the new insight it gives is remarkable. Someone says they can get the same in their own way, but not in the concentrated, at-a-glance form the MM provides.

    But there's more. As a member, you get access to hear live comment on the markets, to watch trades (both alerts of setups that may be forming and - as fast as they can - trades put on by the mods), and - amazingly - you can ask questions, be they never so dumb, and receive helpful answers from both the mods and any other member who is online. This is beyond price for someone like myself, since there is so much to learn.

    Even before signing up, you can see the sessions recorded, hear the comments and learn a great deal from the free videos on the site.

    The mods, by the way, are getting nearer to providing a 24/6 comment and advice service. When they are on, they are uniformly helpful and constructive, never begrudging time to go over things, including vital money management and other issues unrelated to the map. They put themselves under pressure by advising and trading at the same time, which they don't need to do, and you can see both their successful and not-so trades and learn with them.

    So, firstly, this software does what it says on the tin and is therefore no scam.
    Secondly, for adult users, who blame only themselves for mistakes, are willing to learn and contribute, this is a godsend. It is no magic bullet, taking away the need to get the knack, manage your soul etc. But it is a unique combination of tech tool and mentoring.
    Thirdly, I have not spoken to Andy, but watching the videos you can see he enjoys patiently explaining the basics and answering questions, which has been a great help to me, for one. If he is a businessman trying to make money, well so are we, right?

    It is a lot of money, but I'm very glad I bought it and hope to see some of you on the site one day.

    Good trading
     
  4. bogofallen

    bogofallen Recruit

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    Scam-scam-scam

    Stay away from these people! 5 grand for a Forex trading system that barely breaks even... give me a break!

    Buy a few good techie books off Amazon, study them for a day or 2 and you're at the races.

    How these cretins get away with this I'll never know!:mad:
     
  5. Sanja Hunt

    Sanja Hunt Recruit

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    More on MoneyMap

    Hello again,
    I am still trading forex and am using MoneyMap grids and charts. I still think it is an excellent product and I love using it. However, there have been some developments that make me think that one should do a little extra research if you really want to take advantage of the concept.

    Being able to see 24+ time frames across your screen cannot be underestimated but having the guidance of the best traders is also of utmost importance as is thorough understanding of currency pairs and their interaction. I find it most helpful to be with traders who have a lot more experience and trade many hours per day and are available to me pretty much the whole day. They have figured out many more set ups then just a Vanilla or a Break Out, but for those you really need more understanding of the grids and charts.
    I am now getting up at 4AM Central US time which is still a bit late since the best trading times occur at pre-London trading time. For me that is 1AM and most of the time just really hard to be up at that time. It is not enough to just trade NY session and the alternative was to trade alone at 4AM.

    Since I am trading Forex for the "making money" goal I chose to join the experienced traders who are available during a greater number of hours.
    Kashif Aziz or Kash is one of those traders. His email is azizkashif@hotmail.com and you can email to him to see if his approach to trading suits you better.

    I would invite you to evaluate what is important to you- is it trading alone or is it trading with excellent traders or will the FXMM grids suffice. For me the important thing is to be with good traders much of my available time if I have to pay for access to a traderoom and the feed.

    "Trade humbly"---I lost track of Wolverine.
     
    #5 Sanja Hunt, Jul 11, 2010
    Last edited: Jul 11, 2010
  6. johnthreadgold

    johnthreadgold Private

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    Hi There. I am a new recruit to FX trading, and trained last year with Andy Sherman on the FX Money Map. I have also looked at the videos as well and am using the Money Map with a demo account.

    What I like about the Money Map

    1) I get an instant overview of the Market on any number of currency pairs

    2) I can also see how some currency pairs move together. For Example Euro- Yen GB-Yen USD-Yen. Although Andy taught this on the course, I did not fully grasp this until watching and seeing it in practise.

    3) The trades that Andy taught are instantly recognisable on the Money Map. For example I can now spot a Bounce Trade set up on any currency pair instantly on the grids. Of course it is a moot point as to whether the price action will move up or down to the identified bounce area. But if they do it is easy to spot.

    4) I have been practising the trades on my demo account. I initially trashed one demo account and am now on my second one. When I am disciplined, and follow the trades taught, I make net gains, at least so far. Today I have made 33 Pips on my demo account, and have a total of $10.700. However I did get it up to a $800 profit, but on Wednesday did stupid kamikaze trades that were nothing to do with what I had learned. So my main problem in trading is with my own self discipline.

    Now the down side to using his grip system is that it costs $199 per month for the information stream that allows it to be used. And while I am still training, this is a drain on my resources. Having said that, I am coming to the conclusion, that Andy's target teaching people to make 20 pips per day ( net) using Money Map is realistic. IF it is, ( and that remains to be seen, I need to try it on my real account) then the $199 per month seems well worth it.

    A question does remain in my mind, and that is are there free versions of the Money Map, or is it possible to link in the Money Map to a free information stream ? I do not know the answer to that one, and if you do please let me know.

    Best wishes John T
     

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