Forex Morning Trade – Insider Scoop

Hi, it’s Willie bringing you some fantastic news — Forex Morning trade has made a new equity high. Yes, much like we had anticipated just days ago, the May 2011 equity peak has been surpassed as this GBP/USD Forex trading system stormed ahead with its consistent trading performance.

So far, September has produced a gain of about 95 pips with the following activities:

• 3 no trades
• 2 break-evens
• 5 profits
• 2 losses

The equity curve below says it all. This is a preliminary chart as we have yet to conclude this trading month. For now, it certainly looks sweet and feels great as you review your trading account ;-)
 

Forex Morning Trade Equity Curve, Jan 2009 to Sep 2011 (preliminary)

 
My congratulations to all who have taken action. Your investment in Forex Morning Trade would have paid for itself — effectively, you would have gotten yourself a “free” copy by trading just one mini-lot these past 2 weeks. Well done, fellow traders! Go ahead, give yourself a pat on the back for staying positive.

If you are thinking about joining the ranks of profitable traders working the easy Forex Morning Trade system, read our Forex Morning Trade Review and check out the official Forex Morning Trade web site. Learn all about this Forex trading system and its MT4 Expert Advisor that can automate Forex income.

Finally, trade with confidence!

Breaking News!

Changes in System Parameters
(effective Apr 19th, 2011)

Mark Fric, the creator of Forex Morning Trade system, has reviewed his trading system and recommended changes in system pararemters with immediate effect. Here is the gist:

• Trade entry time is now 6:15am, UK time. This is 15 minutes earlier than the prescribed time (6:30am) first used by the system
• Stop loss on trade entry has been increased to 45 pips, up from 40 pips previously
• Stop loss is now adjusted to protect 5 pips profit, once prices move in our favor 25 pips from entry; old values were 0 and 20 pips respectively

All other parameters remain the same as before.

Whether you are trading this GBP/USD Forex system manually or using the Expert Advisor for automated trading, remember to adjust for the above changes before you trade.

Update, Apr 20th, 2011 — As it turned out, we managed to scratch today’s long trade for nearly 5 pips profit, rather than make no money at all like in the “breakeven” trades of the previous 2 weeks! We will strive to bring you further updates in this comprehensive review.

Update, Jun 8th, 2011 — We review the trading performance of Forex Morning Trade from April till today. Get the trading results here.

Update, Jul 20th, 2011 — More updates on trading performance, from June 1st to July 20th. View the trading results here.

 
And now, back to our review…

 

Greetings, my Forex trader friends. This is Willie. Thanks for following my Forex Morning Trade Review so far.

In this post, I’ll wrap up the review with critical info you NEED to know before purchasing this Forex product. No fluff, no hype, just honest, objective and unbiased reporting. And yes, it’s all here: “The Most Complete Forex Morning Trade Review you can find on the Net”

Note: This is a review. Click Here to Visit the Forex Morning Trade Official Website.

Ok, let’s start with a quick recap…

What Exactly is Forex Morning Trade?

Forex Morning Trade members area, where you download the system manuals, MT4 tools and other (surprise!) goodies…

This is a simple 10-minute-a-day GBP/USD Forex trading system that generates consistent profits. It is developed by a professional Forex trader, Mark Fric, and was recently launched. Get the full product details from my earlier post.

This Forex trading product comprises the following items:

The System Manual

Forex Morning Trade comes with a 44-page system manual, but don’t let the “thin” book fool you. The simplicity of this Forex trading system belies the power it unleashes in bringing a consistent stream of Forex profits. And its creator, Mark Fric, did not resort to the usual fillers of basic Forex info and what nots to give you a fat and heavy manual; such knowledge can be easily attained by surfing the Web.

There are 9 sections in the system manual, covering 4 main topics:

• Setting up the MetaTrader platform, including installation of the included MT4 tools and chart setup
• Trading system rules, with trade and money management
• Real trade examples to illustrate how to use the system effectively
• Various resources on support and general Forex stuff

Note: The installation and use of the MT4 Expert Advisor is covered in a separate manual.

While the section on setting up an MT4 platform may seem unnecessary, it is important that the trader knows how to install the required basic MT4 tools and also the Expert Advisor if needed. To me, this info is a plus as not everyone trades on MetaTrader.

Overall, the system manual is easy to understand and instructions are very clear. It doesn’t take too long to get through the details and begin exploring how the system actually works with real data. This brings us to our test drive…

What Our Test Drive Revealed

So, how did our Forex Morning Trade System Test, in which we test drove with both paper trading and live trades, turn out? One word: Profits; and these were streaming in consistently. And importantly, effortlessly as we spent only a few minutes each day to check signals and put on trades.

View the full Forex Morning Trade test drive results here.

While the number of trades we took in total (eleven) may be too few to be statistically significant, Mark Fric’s own system test of trades from 2009 to early 2011 provides further evidence about his profitable GBP/USD Forex system. Check out the equity curve below:

“Imagine risking only $400 per trade and raking in some $30k profits over 2 years, as depicted above. And all this with just 10 minutes work each day.“

Click Here to Learn More at the Forex Morning Trade Official Website.

Are the MT4 Tools Any Good?

How a properly set up Forex Morning Trade chart looks like. The "blue zone" provides easy visualization of which candle to check for trade setup and which to use for entry. The text at the top-right corner provides trade details should a valid setup occur.

Certainly, the included MT4 tools are very useful. Although I trade on the Dealbook 360 platform, I set up an MT4 demo account with no problem, following the step-by-step instructions in the system manual.

First, the chart template is applied to load and configure the two required indicators. Then the proprietary “FxMorningTrade” indicator is installed — this provides the “blue zone” (see picture at right) and info on trade parameters upon a valid setup.

In addition, the MT4 Expert Advisor installed and worked like clockwork; no upsets at all here.

Some Bad Points I Found

In my view, there are a couple of points that somewhat blemishes this Forex trading system, as summarized below:

• Working the pre-London open does not suit everyone, depending on the time zone they are in.
• As the included “trading robot” (i.e. Expert Advisor) is coded only for MetaTrader 4, traders on non-MT platforms are not able to enjoy automated trading.

Read the detailed pros & cons here.

Here Are the Good Points

Forex Morning Trade Review uncovered quite a few good points (some of them I considered strong) about this Forex system. Here’s a quick review:

• This simple GBP/USD trading system works very well.
• The included MT4 chart template and trade indicator files install easily and without errors.
• More importantly, the number of winners far outweigh losers, thereby mitigating the “limitation” of the system’s 1:1 risk/reward ratio.
• Even the leading Forex competitor, Forex Rebellion, is singing praises about this product.
• As for trade automation, the Expert Advisor works beautifully.
• Access to Mark’s live trading journal is a gem.
• Last but definitely not least, every customer can join and participate in the forum dedicated to “Morning” traders.

My Recommendations

Indeed, Forex Morning Trade is an excellent Forex trading product that delivers on its promise — consistently good trading results with minimal time spent. Whether you are new to Forex or are already trading, I recommend that you seriously consider adding a steady stream of Forex income.

• For Forex Newbies

Since you are just starting out in Forex trading, your focus should be on protecting capital, keeping losses small and steadily growing your account. As such, you should do well to begin with Mark Fric’s GBP/USD Forex system, given its simplicity and consistent performance.

Newbies should stick to executing trades manually so that they observe and learn how the system works. It is advisable to limit each trade to just 1 mini-lot to keep risks very small; hence, a starting account size of $1500 would suffice.

Note: Consider embracing this as your first goal: double your starting account size twice. After the first doubling, withdraw your initial capital and trade with the balance “free” money — and double this once more.

• For Experienced Forex Traders

Consider using Forex Morning Trade to generate a steady stream of “passive income” for your portfolio. Trading could be fully automated if you are using the MetaTrader platform, by deploying the MT4 Expert Advisor. A trade size of 5 minis to 2 full lots would be useful here, depending on your risk level and funds.

If you are into further optimizing your auto trades, Mark Fric offers an optional Turbo Morning Trade EA that has extra features like additional trade signal filtering and taking of partial profits. He recommends that you familiarize first with the regular EA before using this advanced option.

We’ve come to the end of my Forex Morning Trade Review. All in, this is one impressive Forex product that is real and worthwhile owning. I continue to trade it and have been raking in consistent profits. I wish the same for you; as usual, trade well!

Click Here to Go to The Forex Morning Trade Official Website

Yo, Willie’s back. In this update, let’s examine what our Forex Morning Trade Review picked up in terms of pros and cons of this GBP/USD Forex trading system.

Not unlike other Forex trading products, Mark Fric‘s Forex Morning Trade Forex trading system has its good and bad points, all of which are presented here:

Pros of Forex Morning Trade

Overall, Forex Morning Trade ranks very high as a good Forex trading system. The following good points reveal why it is so:

• This simple GBP/USD trading system works very well. Indeed, little effort is required for checking trade setups and entering trades. In fact, much more time is spent booting up the PC than making trades.
• The included MT4 chart template and trade indicator files install easily and without errors. These tools are very handy and makes for easy and fast trade decisions and order entries.
• More importantly, the number of winners far outweigh losers, thereby mitigating the “limitation” of the system’s 1:1 risk/reward ratio. This brings forth a net positive outcome, as recorded in the equity curve shown earlier.
• Even the leading Forex competitor, Forex Rebellion, is singing praises about this product. Watch Russ Horn’s video review of Forex Morning Trade to see what he really thinks.
• As for trade automation, the Expert Advisor works beautifully. A separate manual is provided which gives step-by-step instructions for loading the EA. For those who are new and/or interested in this topic, Mark even includes two free eBooks on EA setup and test/optimization in his Forex package. (Oops, I spilled the beans on the goodies…)
• Access to Mark’s live trading journal is a gem. Very few Forex traders would readily open up their books to let you see how their trading really is. As Mark himself trades the Forex Morning Trade system, his idea of sharing his trade journal is to let his “students” compare notes while learning to use the system.
• Last but definitely not least, every customer can join and participate in the forum dedicated to “Morning” traders. Here, you can get up to speed fast and also trade (pun intended :-) ideas with like-minded Forex traders.

Cons of Forex Morning Trade

While Forex Morning Trade does a good job, it does not seem to be suitable for every Forex trader. Here are some of its imperfections:

• Working the pre-London open does not suit everyone, depending on the time zone they are in. This also means that affected newbie traders won’t have the chance to trade manually and learn the system. The workaround for this problem is to deploy automated trading, but bear in mind the attendant costs to host and manage such activities (think VPS).
• As the included “Forex robot” is programmed only for MetaTrader 4, traders on non-MT platforms are not able to enjoy automated trading. Some traders may be able to write code to create their specific versions of the robot, but chances are insufficient system testing and coding errors could cost them by way of wrong trades. To alleviate this problem, perhaps the trader should open an MT4-based trading account and deploy the Expert Advisor provided.

All said, no Forex trading system is perfect, so what was revealed by Forex Morning Trade comes as no surprise. Always evaluate the pros and cons to determine if a system matches your trading style and requirements. Do this always, and trade well!

Hi again, it’s Willie. In this post I will sum up and review the test drive results of our Forex Morning Trade System Test.

Recall we did both paper trading and live trades over a 14-day trading period. The results can be summarized as follows:

• Paper trades
• Won: 3
• Lost: 2
• Days with no trades: 2
• Total profit: 25 pips (“virtual money”)
• Live trades
• Won: 5
• Lost: 1
• Days with no trades: 1
• Total profit: 130pips = $130 for trade size of 1 mini-lot
• Total profit: 155 pips

Here, I need to mention that paper trading was carried out using a demo MT4 account; the trading platform was appropriately set up by loading the chart template and trade indicator files provided with Forex Morning Trade. Everything worked fine first time round, thanks to the easy-to-understand and detailed setup instructions provided.

As for live trading, I used my own Forex account based on Dealbook 360 platform. While there was no chart template and trade indicator to speak of, setup of the required trading system was straightforward as standard chart indicators were the only things needed. I did the live trades manually, both because I wanted to learn the system and also due to the lack of pre-coded automated trading “robot”.

Early View of System Performance

This Forex Morning Trade System Test yielded 8 winners and 3 losers; there were 3 no-trade days within this 14-day test period. Which gives us a very respectable winning trade percentage of 72% (8 wins in 11 trading days).

Note, however, that 11 trading days is nowhere statistically significant to conclude fully on system performance — it would be more accurate to monitor at least 100 trades. With a reward vs risk of 35 pips against 40 pips, we’d need to see at least a winning percentage of 58% to break even.

Overall, the test drive results do point to the direction of profitable trading with Forex Morning Trade system, as corroborated by Mark Fric’s own system test of trades from 2009 to early 2011. Always do your “homework” before putting down serious money, and trade well!