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forexnewstrader.com Review Visit site

Updated: Jan 5, 2015
3.245 · 10 REVIEWS
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3.245 · 10 REVIEWS
Forex Peace Army

Let other traders know if this service is worth checking or should be avoided.

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brian stack,
Feb 14, 2011,

he blew my 70k acct he was managing dnt trust him
Rick Kraai,
Portland Oregon,
Mar 25, 2008,

HI, Rick Kraai here...I can not give this site any stars. As of November 2007, I closed this site. Due to partnership issuses and lack of news trade in the market. It has re-opened under the same domain name, but I have nothing to do with the site, or the people running the site. I have no idea of what the site does or how it works. I asked that the domain name not be used, because my name is behind it. But it is open anyway. I cannot advise one way or the other.
Thank you..
Rick Kraai
May 21, 2007,

For $49/month you can't go wrong with Forexnewstrader. At the very least, having a professional running a trading chatroom during most of the European session and part of the US session is worth much more than that. Rick's friendly demeanor, welcoming people to the room, etc., makes it a friendly chat room. There also isn't the "inmates running the asylum" of other chat rooms. Participating in the chat room is a pleasant experience for all. The reason I signed up was to try to make money at news announcements, which hasn’t happened. Part of the reason is that my broker, Oanda, makes news trading next-to-impossible with their huge spreads at news time. If I saw a lot of pips being made trading the news, I would open an account with another broker. However, there haven’t been many profitable news announcements for others trading with Forexnewstrader. News trading is a tough way to make a precious few pips. Rick has developed a grid-trading system using a robot. Having looked at FreedomRocks, I had no interest at all in grid-style trading. However, after a few months of hearing Rick say that the robot is profitable, I am now considering opening an account with Forexnewstrader as the IB to check out the robot. I haven’t made a gazillion pips daytrading in the chatroom, but it IS profitable. Rick develops and tests new strategies to increase profitability. For any former Peter Bain/ForexMentor traders, the site is run by Rick and Cheryl Kraai. The value received from Forexnewstrader may be different for different traders because such a variety exists in what they offer. For me, the very reason I signed up (newstrading) turned out to be the least important reason to stay. But, having a pleasant trading chat room open while I trade that offers several scalping trades every night is a real find in my opinion. Having access to trading systems developed by Rick is also helpful. Every strategy offered is taught in training sessions every week. You can go wrong for $49.
Eric Lombard ,
May 19, 2007,

Rick runs this site honestly. However ( no fault of his )"trading-the-news" is very rare lately. Perhaps the site shoud be renamed, as it purports to solely trade the news. Rick seems like a good guy, he does share truthful information and at times useful trading systems. His gbp.usd trade calls were on the whole fairly reliable, but of late he has tried to call trades on other pairs with a marked lack of success. Maybe best if he stayed with what he did best. The monthly fee of US$50 is not a rip off, there is value for money at the site. I have commented on this site last year and gave it a 5 star rating then. Now I am unable to do so, as the name cannot deliver the implied product, so a 3 star ratingfor now.
A & H,
May 8, 2007,

Don’t be fooled by the name ‘FOREXNEWSTRADER’ as the site offers strategies and systems that can be used 24 hours a day regardless of market conditions and regardless of news. This is not another website peddling gimmicks and novelty strategies. This is the real deal. I have been a member since inception and know this room is a must for anyone who wants to remain profitable regardless of experience. Listing the benefits of this room is like making a must have list that you will not find elsewhere. Live trading twice daily, plus live news trading, plus educational classes 3 times a week, guest speakers, plus a minimum of 5 trading strategies.

I assume I am the person that Chuck refers to in his review as I trade the correlation strategy so I feel compelled to submit this review after reading the two prior reviews by Mark & Chuck. I apologize to you Chuck as I do not recognize you by that name in the FNT room and certainly do not want to offend you. Rick has always welcomed the sharing of strategies and techniques by fellow members and has had me teach and share my correlation strategy. This has been done privately and has also been done during scheduled classes. There is certainly focus on the strategies taught in the room but that focus is primarily during live FNT trade calls. When there are no live FNT trade calls many members use the room to trade together and share. It has always been encouraged and one of the primary reasons I remain a member. The results that you refer to that were posted on the day in question were actually a combination of my correlation strategy and a grid strategy taught by Rick. For those of you who news trade you undoubtedly know that news trading (whether trading the spike or the after effects) is becoming more of a challenge for a variety of reasons and is far less profitable now than it was in previous years. As a result, FNT is constantly testing new strategies to stay one step a head of the market. Rick’s grid strategy and the corresponding EA is one of many strategies taught and shared at FNT that are unrelated to news trading and can be done at any time of the day.

All strategies are shared in detail when taught so that you can trade them on your own or with the group. The trade calls are not based on proprietary or secret indicators that force you to trade blindly. All trade results are posted and so are the corresponding charts. Results may vary between traders but that is because some members do not take every trade call or trade every strategy. They chose the strategies and trades best suited to their personalities and risk tolerance. Although many full time traders are in the room, many members are new or part time traders who may not be present for all live trades. And of course different brokers will yield different results.

It is my opinion that a person would not be confused in the room as the strategies are taught regularly and Rick ensures that all members have his private email address so that they can seek assistance at any time. If a new member were to join between classes that person would receive individual help from Rick. There is also a Yahoo group for additional member sharing and benefit.

For less than $50 per month I have gained more knowledge, experience and results from FNT than any other service.
May 3, 2007,

This is not a news feed type place. More like an education site. Best part is the chat room during live trades. Rick calls out what he is going to trade. People are friendly. Need longer time to evaluate trading strategies.
Vancouver, Canada,
Apr 29, 2007,

I am new to the site but agree largely with Marc's review. There is not a lot of clarity and at times it is very confusing. I am also uncertain about the results as I have not had the same result they post and I have not been able to confirm actual results with members. However, Rick seems like a very nice man who is sincere in trying to help people but sometimes i think his strategies only make sense to him. The room has been worth the investment because there are many full time serious traders that seem to use it as a chat room. Some traders share their techniques and a lot of them seem to do well but they seem to do well using their own style. There is one trader in there who has phenomenal results from her own strategy and she does post proof. It is a correlation strategy that a few members trade with her and this past friday rick posted her statement showing over 2000 pips that were made in about a week. the site appears to welcome sharing but when i inquired about the correlation strategy i was told told that the room tries to focus on their own methods. I will follow the trade calls given in the room for 3 months to see if i get the same results they claim to have and report back. so far i am pleased with the room because people are friendly and it is fun trading with a group of good people.
Apr 25, 2007,

This does not seem to be a signal service. There are some pages with some very light information on some trading strategies, but a lot of the pages seem unfinished. The site seems unfocused as a whole and needs some copy writing work to explain that the whole deal is a voice chatroom. The whole premise of the site relies heavily on a voice chat room that only runs on a Windows platform. Mac and Linux users - stay away! Also, stay away if you're looking for signals in your e-mail box. If you want to listen in on a chat session with an ActiveX plugin in IE or your want to know the very basics of trading, then it might be worth your while. I think this site should be re-categorized under "Forex Education Reviews". I haven't tried to get my money back yet, I might have to revise this to a SCAM rating if there's some problem with that.

2007-04-26 update My previous review of this service was a little harsh because *I* didn't understand what was going to happen. I still think the site could have been more clear about the services offered. After using this service for a while I must say that it is really great and an absolute steal for $50/mo. Really, I feel bad about my first review because I was hunting around for an email alert service. But when you think about it... this service has a voice chat room... you can't get any quicker than someone talking to you! So, 5 stars for the service, 4 for the overall quality, personally I think there's a lot of work to tie everything together into one cohesive branding effort, but I realize that not everyone cares so much about IT issues as I do. So, the deal is, everytime there's some big news you enter the chat room and listen to this guy talk about if you should trade it or not... that's good right there, But then after the live trades there are times when he explains some strategies. Then, if there are normally scheduled times for news events and there isn't a news release at that time then it's just like free chat room time to talk about other trades. Everyone there is really nice and it's much better than some free chatrooms or message boards that I've been a part of. Overall: nicest people in forex, live listening to people with experience during news events, some explaination of strategies. Good value for the money.
Raleigh, NC,
Apr 3, 2007,

At last !!!... an honest signal dude. Besides giving decent real time signals, the 3 or 4 methods are actually taught 3 times a week during 1 - 1 1/2 hour mini-webnars. The support and feedback is next to phenomenal. Many savvy traders in the room, almost all of them willing to share. Very relaxed, open and freindly environment.

Bobby Narramore,
Sep 28, 2006,

I am fairly new to this site, but I am very impressed at how much information is being given and so far doing fairly well trading with his methods, I have only been using a few to not get too overwhelmed. Very good training for the cost. When I have been at it longer and have a better idea about the amount of pips that can really be made by there systems, I will write back, but for now I am very glad I signed up..