Let other traders know if this service is worth checking or should be avoided.
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Nov 1, 2008,
I have had the Currency strength meter for some time now and can say without doubt that it is a very valuable tool. I found it best to watch it for some time so you begin to see how the trends move according to the strenth meter.
Tom does give a system you can use with the meter and it does work just fine, but the system didn't really fit my personality/trading style, so, with a little thought and planning it was not hard for me to make my own systems that incorporate the meter successfully.
Tom is as honest a person I have ever met and over the years I've known him. He has given me things he really did not have to and always showed generosity. He always answers email etc fast.
If you are looking for an edge and are still prepared to use your brain to trade then I think the meter is a good investment.
Oct 2, 2008,
I think that the Currency Stregth Meter is a very powerful trading tool. After more than a year trying to find sound principles I could base my trading plan on, I've come to the conclusion that simple is best. And when I say simple, I mean just 3 elements:
1- Currencies' strength
2- Support and resistance levels
3- Risk management
So, I've taken away all the technical indicators (Bollinger Bands, MACD, Ichimoku, etc, etc) that only made my screen (and my trading account) looked like a mess, and only concentrated on currencies' strength and price leves.
The first one who introduced me into the importance of currencies' strength was Jimmy Young who is an accomplished trader. So, as soon as I knew about Tom's Currency Meter, I decided to include it in my trading toolbox. After some time, it proved to be an EXCELLENT TRADING TOOL.
Let's think about a very simple example such as a trendline or a channel breakout. If you know beforehand what currency is driving the market, i.e. what's the strongest or the weakest one, you can anticipate if the breakout is going to be successfull or not -just a fakeout. And right here is when the Currency Meter comes in extremely handy, since it shows what currency is the strongest/weakest one. And this is only one example among many others (market sentiment trading, news trading, etc), in which I could show you why the Currency Meter is so useful.
I wouldn't like to finish my testimonial without saying a few words about a couple of points that I think are worth mentioning:
-EVERY time I wrote to Tom Yeoman because I needed his help, he wrote me back almost immediately explaining to me the point that I couldn't understood.
-I've seen a lot of trader gurus who sooner or later ended up working for a broker and/or have their websites flooded with broker's ads. The question is: What side are those "successfull" traders on? If they really want to help you, why do they have such a close relationship with the brokerage industry whose interests are against of the retail trader's.
Far from all of this Tom Yeoman has always remained loyal to the retail trader. He's always trying to support the small individual trader against the brokerage industry. I'm just going to mention just two instances which back up my statement:
1-The Currency Strength Meter helps you to trade with the real trend, i.e. the trend which the broker can't manipulate.
2-In his newsletter Tom constantly gives his advice in order to help you not to be deceived by your broker.