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LondonForexOpen.com Review Visit site

Updated: Apr 20, 2018
4.429 · 8 REVIEWS
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LondonForexOpen.com profile provided by PMoore, Jan 25, 2016


London Forex Open breakout trading strategy offers a simple way to capture market breakouts at the opening of the London market session. Primarly designed to be traded with the GBP/USD the system can also be used to capture moves other currency pairs at this time of day.


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4.429 · 8 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

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

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bturner68,
Melbourne, Australia,
Apr 18, 2018,
Registered user

My Results on a Live Trading Account

So I have been trading London Forex Open on a Live Trading Account since 29 January, 2018. So far my trading account is up 19.8% overall which is a very solid result.

I am trading Conservative, Aggressive and Advanced on GBP/USD and Conservative and Aggressive on EUR/USD.

My view on the Pros and Cons of this system are:

PROS

- System is easy to set up.
- Rules are Easy to Understand
- You know exactly when to place an order (same time each day).
- Once orders are placed trade management can be largely automated
- It is profitable

CONS

- It is very difficult to accurately reconcile published results with the results I have produced.
- In my I think it is fair to say the results are somewhat overstated based on the results I have produced (and I have followed the rules 100% of the time). That is certainly not a criticism of the system, just to say that you shouldn't rely on the published results as a proxy of what to expect if you trade this system, you should still be profitable.

I will update my results on the system later in the year. If they continue I will update my rating to 5 stars.
MickyWard,
London, United Kingdom,
Apr 14, 2018,
Registered user

Simple, high performance system with great support

I wanted to add a review of this system as often people only to tend to complain about things and not give praise when it's due. As a relatively new trader I have been very impressed with this system, both in terms of performance and the support I have received from the team behind it.

I have tried trading a number of systems in the past that have not lived upto expectations and come away disappointed. Not so with the London Forex strategy.

Of course I recognise that no strategy can always deliver, and I have days where I lose with this system. It is only to be expected as part of trading. However the simplicity of this strategy and the discipline it installs in you as a trader seems to echo many of the principles I have read in many top trading books.

I have made back the price of the strategy several times over already and only wish that these guys would share more of their systems and knowledge as they certainly seem to know how to trade Forex.

A big thumbs up from me and thanks again!
Tomas,
, Czech Republic,
May 31, 2016,
Guest

This is a third update of my trading this system... I have been trading LFO since October 2105.
First of all, I would like to react to Phil`s comment here from 2016-01-25 05:22. Yes, I bought another copy because I was unhappy with ETX Capital broker (fixed spread which increased pretty big during moderate news so I switched to ECN broker with much lower spread but with commissions of course, I get no slippage and the spread widens moderately during news)... To react that they did not receive any email from me, Phil admitted, that from their website, they experienced some issues with the question form, so probably this could have happened (I could attach that email, but I donť think it is necessary, I think their service is fine). Why I give only 3 stars? The results are very different from what they get, which is regarding to Phil due to other broker time zone. But I had also worse results when trading from ETX Capital... Well, I still believe this system works. Here are my past results. I did not change anything to their strategy and I trade as per manual (Conservative and Advanced strategy, I don`t trade aggressive strategy):

2015
October: GU 285 pips, EU 293 pips (altogether +17,5%)
November: GU 81 pips, EU 248 pips (+13%)
December: GU 40 pips, EU 57 pips (+3,5%)

2016
January: GU 236 pips (+7,5%), EU 216 pips (+5,1%)
February: GU -91 pips (-6,5%), EU 46 pips (+0,5%)
March: GU 425 pips (+14%), EU -57 pips (-2%)
April: GU -87 pips (-5%), EU -81 pips (-2%)
May: GU -451 pips (-10,5%), EU 365 pips (+8%)

So... Year 2015 was wonderful, 2016 is pretty good, but only thanks to EU, GU seems to be very volatile probably due to probability of Brexit... I would still recommend this system, the only thing is that I get totally different results from those on the web. Still, I am in positive territory..:) I will post my final results at the end of the year.

2015-12-19 3Star Hi,

After almost 3 months of trading this system I am eligible to rate it I think... The system itself is easy to learn, is mechanical and results are I would say very good! All three months are positive... I would give 5 stars just for the system. But... For the first month or so, I would get excellent servis and support from Phil. It started to deteriorate as soon as I started to point out that the results on their web are different from mine, eventhough I trade the system on the very same broker as LFO guys do (according to Phil). Last emails about November results when they show way better results than there really were they stopped communicating definatelly. I haven't heard from them since... I think it's pretty shame, because as I said the support was superior at the beginning! And the results are also very good... So, overall, I think the system is worth the money definately, just don't expect the same results as they post on their web...

Tomas

2015-10-08 No Rating I have purchased this system a few days ago. So far, I am reviewing just the service received so far, results will come later. I have to say that for such low price you get excellent support I have not seen for a long time... I hope it stays that way forever:)

Added by Phil Moore on 2016-01-25
Content: Hi Tomas. At least you commented that the results were very good which probably explains why you have purchased an additional license!

We pride ourselves on providing excellent support to our traders. Having checked back we can find no unanswered emails from yourself. We have have emailed you directly to rectify. Regards, Phil
MRBAKER,
MAIDSTONE, United Kingdom,
Feb 26, 2016,
Guest

The LFO system is a solid system, I've been using it for more than 8 months.

I personally only use the LFO conservative method placing 1x 40pip trade (risk 1:1) 30 minute time frame GBPUSD and EURUSD. It is not necessary about the number of pips but the quality of trades and risk.

I recommend that you keep a trading journal and document everything in Excel.

You notice repeat patterns for example; entries near the day/broker open (under 50pips) are lower risk set-ups. Entries or profit targets near daily 100/200 ema and daily 2nd pivot should be avoided (don't trade!!).

As you evolve your own trading plan it is possible to achieve a 80-85% success rate with LFO.

One more tip don't trade the day after NFP, a guarantee loss, but you already knew that? Check your journal.

All the best,

Chris

P.s Ditch them free "lagging" MACd, overbought/sold indicators etc; Complete waste of time. Think leading, not lagging!

Jonjo,
, United Kingdom,
Jan 25, 2016,
Guest

Checking out the reviews here I decided to get the system. I've been trading since October and have been really impressed with the results. I've only traded the GBPUSD. Good help setting it up (I'm new to Forex) and help along the way. Really pleased.
Stephen Aldock,
Stockport, United Kingdom,
Oct 13, 2013,
Guest

I recently purchased this system after receiving promotion for it. As a new trader I found it easy to use and have made some money from trading it. All in all I think this works and am very happy.
Josh Hartley,
, United Kingdom,
Oct 11, 2013,
Guest

Good system. Seems to pretty consistently provide gains without ever going too far into the red when the inevitable poor spells arrive. Phil on support is great and got back to my queries fast.
Geoffrey Davies,
United Kingdom,
May 14, 2011,
Guest

This is a morning breakout system. It is primarily used to trade the London Session breakout from the Asian range but can also be used to trade breakouts that occur across other sessions (position for breakouts when market opens).

Although the system is designed to be a 10 minute a day system where you just follow the trade recommendations, you can make many more pips from applying some technical analysis to the trade signals (i.e. chaning profit targets to fit around key resistance levels).

Has been working ok on the GBPSUD for me but have been getting excellent results when applying to EURUSD and EURGBP.

Support is very good and helpful.