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!

Willie
ForexMorningTradeReviewed.org