FxNewsWiz.com Review

I just saw my previous comment on this service and I want to "add a position" to it in order to give a better image.

I used the Trading Room very succesfully in terms of ROI and education. But in the early 2009 I just noticed that Mr. X started to change and ignore most of the trading principles that he gave us in the late 2008. So I started to use my own judgement in order to avoid entering in the red zone. Consequently, I considered that it doesn't worth the cost of the Trading Room if I must use my discretion. So I gave up.

But I still consider this a very successful experiment for me, because I have been forced to use my own judgement in order to avoid loses, and I made this by gaining money. So, in this light, Mr. X is a good teacher, because he gave me enough hints for making me capable to detect his own inconsistencies.

I think I just stopped this experiment at the right time ( early 2009 ).

2008-11-13 02:10 5 Stars Well, I'm not a professional trader, not even an intermediate one, I'm just a person who never gives up and wants to understand this fantastic and funny business named FOREX. Anyone like me ?

I will write here the main reason for these five stars: it's not the fact that this week we made about 1000 pips following Mr. X indications ( even if this is entirely true !!! ). Maybe this was an exceptional week .... My first week with this Trade Room - I think it will be an unforgettable one !!!

The main reason is that Mr. X REALLY WANTS that I ( and all the people which is in ) will be able in the future to take the same exceptional trades that he takes now. For this to happen, he gives us all the main clues why the market moves. He REALLY WANTS us to grow up. Well, how much value is this ? I think this isn't measurable in pips ( even thousands ) because this is a rare human quality. So rare that even ten golden stars isn't enough to evaluate.

Of course, if you want to grow up, first thing is to accept that you're a "child". This means an opened and fresh mind and an instinctive respect for the already grown-up people. If you have these, your way to success is sure in our room, because the source of light for you to grow is already here. And it's called Mr. X.

And now, for every human being that gave a review here: the level of your life quality is equal with the level of your review. With other words, if you gave a review less than 5 stars, the problem is at you, not in the Trade Room. Just my opinion !

Totally useless. I was with him from the end of 2008 to the beginning of 2009 and never before have I seen such an unmitigated disaster.

I really do not need to add to what most of the people have said here, but I can't help it. When someone has the balls to start up a service, make indirect claims that they are the trading equivalent of Superman and then have loss after loss after loss, and STILL be unrepentant, STILL take $300 off hundreds of people monthly and STILL be able to sleep at night is beyond me. The guy (or guys. Who knows how many Mr Xs there could be?) is not only one of the worst traders I've ever had the misfortune to encounter, but he is a petty little dictator to boot. Anyone saying anything negative about his abysmal performance (you know, sane people, who are justifiably pissed at the idiot's consistent losing signals) is either jumped upon by his slack jawed, slacker brained, sycophants, or ejected from the room by X himself for disturbing the peace. Basically, he is a no conscience, egotistical autocrat, with as much ability trading and teaching, as George W. Bush had running a country. Unless you are a masochist or intend to use Henr.. I mean, 'Mr X', as a contra-indicator, then avoid at all costs. You have been warned!

An amusing little addendum:

Soon after I first joined he had one of his few winning trades and when it was over, while basking in the praise he received from his minions, he went on to give a speech about how he'd single-handedly saved the old Wpips trading room from the brink of collapse and how he'd learned from Dmitri (Felix) the importance of giving away 10% of your winnings to charity. This, apparently, is down to some pseudo-mystical reason that God or 'the universe' is quite happy for you to pocket $100k a month in ill gotten gains, so long as you give a smidgeon back to the truly needy. Hmmm... Anyway, he cited this failure to share the breadcrumbs as the reason for old Rob Grespi's ultimate failure to deliver on his service. So what happened in your case Mr X? Did you stop giving your 10% or is God demanding 20% these days?

I joined this service back in October of 2008. Up until December of 2008, I thought this was the best service available and the performance was great.

However, in January of 2009, the performance declined tremendously and still to date the performance is poor. Mr. X seems to have good intentions but the trade calls are no longer worth the price of the service. After the performance dropped in January, they started doing wierd, possibly unethical things. For example, Mr. X made trade recommendations for all members to take that were outside of the regular traderoom hours. If the trade turned out to be a winner, then the results would be posted on the performance page. If the trade turned out to be a loser, then there would be no mention of it on the performance page.

In addition to the recommended trades that we all understood would not have been included in the monthly performance report, Mr. X also gave limit orders that were a part of his trade calls and not just recommendations. All of us in the traderoom understood that these limit trades would have been included in the traderoom performance reporting. However, even these trades were not reported properly after January. After I noticed that pattern of not reporting the trades accurately, I saw one limit trade totally omitted from the February 2009 performance page after it lost 100 pips.

During trading sessions this year, Mr. X would make the rules up as he went along. For example, we would hit our stop loss in a trade and Mr. X would claim that we should have traded through the stop even if the stop loss was a "hard" stop as opposed to a "mental" stop that Mr X often used. Of course, that only happened if the price quickly retraced back into profit. If the price did not retrace, then the stop was always used. Sometimes when we were in a trade in the room, Mr. X was apparently the only one whose stop loss was not hit. Mr X would give a "hard" stop loss, my stop loss and all others would be hit, but if the price quickly retraced, Mr. X would state that he was still in the trade (his stop loss was not hit) and we probably got stop hunted by our broker.

The last straw with this service came recently. At the end of January, Mr. X stated that full paying members ( vs. trial members) would receive a free month of service due to the poor performance. This was apparently done so that we all would not cancel our membership. I understood that my free month of service would have been for March 2009. Hindsight being 20/20, I should have cancelled my Paypal rebilling immediately. However, I didn't, and right after my $299.00 payment was made by Paypal on March 1, 2009, the service gave me the free month credit on March 4, 2009. In essence, they waited until my March payment was made before issuing the free month credit to cheat me out of the anticipated free month and to collect an extra month's payment from me. I asked for a refund but they refused. They stated that I should have cancelled the automatic rebilling with Paypal. However, I believe that if there intent was to provide March 2009 for free then there should be no issue or problem in refunding my Paypal payment from March 1, 2009.

To date, I have not received a refund and apparently I won't. They also cancelled my free month (which I guess would now be April 2009) because I made a claim with Paypal for a refund of the $299.00 paid on 3/1/2009.

Based on my experience, I would not recommend this service.

Im gonna be nice and give him 2 stars. To be fair to X he did have some good times, but then what happened man. Its like after the first of the year another person started trading for the room. January was a complete disaster, theres just no other way to put it. A good trader is one that is calm and collected and dosent let the market put him on tilt. X pretty much does the opposite on a regular basis. He will revenge trade and the real kicker is he gets these thoughts for who knows where and he will say things like "I know its going to go down!" then it goes up of course. Fortunatly I managed to take the good from X and continue on my way but for those that are still hoping for the big turn around I feel sorry for you. It wont happen in my opinion. On the good side he does have things that he teaches that I did find useful such as sentiment and reversal times. So heres my thoughts on X for anyone new wanting to try him. Buy his service for a month and learn as much as you can about his system and sentiment trading and then apply that in your own trading as you see fit. I wouldnt however recommend trading with him. Its strange his ideas about sentiment and reversal times are correct but its like he dosent use his own trading style. I dont understand it.

I have been with Mr X for the past 3 months and the performance for me was terrible honestly. I lost all my gains before subscribing the service and right now have a bigger loss further.

Mr. X is honest and diligent. Unfortunately the tracking records for the past few months can not speak for him. I have to discontinue the service.

When I subscribed the service, the attractive point was most of his profitable trades were in the pre to early London session. Due to the recent loss in a row, he changed his tracking strategies to trade around the clock, which does not fit my schedule at all.

In a word, facing the big loss in my account, I have to say I am not happy with this service at all.

What the h____ happened? This was a good service. Mr. X changed his stratagies again? Must not be working, as you can see the 5 stars of last year turned into 1 star in 2009. So much for the Millionaries club (except for the guys running this service!) I would not reveal my name either!

I've been with Mr X since November 2008, I want to give you my opinion on the forex market. Before I begin I want to stress that it is not for everybody. We all know that the risk is very substantial. There is more involved then turning on your PC and wait for the handout from Mr X, you have to know what is happening in the world economy as well.

After trading for almost 5 years, I have to say that Mr X's predictions are 85-90% accurate, there has been a few times where his timing was off, and wrong entry points.But most of the time the direction that he gives for that certain currency does follow thru like I said not at that moment, but is does. Mr X has a good feel for the market, let's face he's only human. You also have to consider he is up against the fastest, meanest, smartest traders in the world.
Mr X has warned time and time again about overleverging, so for those who have lost money maybe it's because they over leveraged them selves.
I'm going to continue to stay with Mr X, because what we went thru in the last couple of month is behind us, we are starting to see some kind of normality in the market as well so I'm confident that Mr X will be able to give better trades

Thank you

Zingaro

I agree with Steve. Mr X has been terrible the last few months. In January I lost about 10% of my account trading about 1% risk per trade. I got the free month subscription and I wish I never did. I got 2 losers in a row during the free month and I stopped taking his signals. One good thing came out of this is it movtivated me more on learning to trade on my own.

Dan mentioned that he made a friend in Mr X. Most people are interested in making money not friends, especially if you are paying this so called "friend" $299 a month. Mr X says that he does not use technical analysis, well I think its time he learns it because whatever he uses is not working.

Hey Dan from Minnesotta, i had this service for 2 months and i was 100% not satisfied af mr X' s performance . I said ok let me see if his performance will improve in the next months . It had past 3 months and over all he's still on big MINUS, if u dont belive me just look at his performance. Mr profesional traider, probably u work for mr X and if u do well this is not a good way to do business , his profesional feed will bring u to bankrupcy.

In reading the reviews below, I'm bemused and befuddled. But that's what you can expect from the uninitiated and the inexperienced. I have a hard time appreciating fair and foul weather commentary. I can say this about Mr. X. I am far better off with all the input provided through his service. His analysis, commentary and insights are prescient and mostly accurate. I highly recommend this service to all experienced traders who know what to do with information, analysis and trade signals. Should you use his services, you find you've made a new best friend in trading. Thank you Mr. X