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Forex Assassin Review

Forex Assassin ratings: 2 votes, average: 3.50 out of 52 votes, average: 3.50 out of 52 votes, average: 3.50 out of 52 votes, average: 3.50 out of 52 votes, average: 3.50 out of 5 (2 votes, average: 3.50 out of 5, rated)
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Forex Assassin

Welcome to Forex Assassin review page. Forex Assassin software is easy to learn and you just don’t need any trading experience to operate this software. Moreover you could use this software in any country, is compatible with any broker, and you could use the software with just about any currency pair. Of course here too you will find more of a cheesy marketing page at the Forex Assassin website. But that’s what you get to see in the website of other software sellers as well.

Features

The best part about using this software is that you don’t have to know anything about charts, indicators or formulas. The Forex Assassin doesn’t use any of these elements, and you don’t have to know anything about these things to use this software. In spite of not knowing these things, you will still learn to trade using the Forex Assassin software. That is because the only indicator used by the Forex Assassin is the price. And price is something that even a forex trader with a few days experience in forex trading would be aware of.

You are permitted the advantage of testing the system in a demo account, and that’s a distinct advantage. It even provides you with a guide on how to trade in the demo account. This piece of software has an easy system which is both reliable and consistent especially as it walks you through a step by step process of trading. It tells you when to enter and exit a market, and provides you with a unique 100% “set and forget” forex trading system which is purely mechanical in its functioning.

The Forex Assassin software has a unique and simple trading plan that took several years for its author to develop. A proven formula is given in a spreadsheet. All you got to do is enter the desired currency prices in that formula. At first you have to extract the correct currency prices from the market and plug it into the Forex Assassin formula. The formula will then tell you the entry, take profit, and the stop loss prices for the currency pair you wish to trade in. Now all you got to do is to set your orders and await the profits to roll in.

All this is best done in the weekends in the comfort of your house. So every weekend just fill out the spreadsheet formula with the currency prices, to receive the following week’s long and short entry levels.

Forex Assassin has an interesting feature in that it uses trading zones. This means you don’t have to sit in front of the computer looking for the right time to trade. The only indicator used by Forex Assassin is the price of the currency pair you wish to trade in. It is called a price driven system with absolutely no other complicated indicators coming into play whatsoever.

One of the features of Forex Assassin is that it operates on just 7 to 12 trades per month. You could start trading for just $100 with this software—meaning you could make it work even if your account balances was very low.

You can buy this risk free software at $97 with the usual money back guarantee applicable for eight weeks. According to its website till date 1500 forex traders already use this piece of software. May be you will get an additional discount of $10 if you talk online with the representative at the site. The email support services are up to the mark.

With this piece of software decision making is left entirely left to the formula in the software. No experience is required apart from extracting the prices from the market.

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12 Comments»

Comment by Wannabe trader Subscribed to comments via email
2008-06-03 11:33:21

I purchased the Forex assassin about a month ago. I am still testing it. It is not a scam, but I still haven’t got consistent results from it. About the formula: it is EXACTLY THE SAME for all markets. It is as follows:
Buy = Close + (High – Low)/3
Sell = Close – (High – Low)/3
where High, Low, Close are the parameters of the last week’s candlestick.
In other words, he first calculates (High-Low)/3 and you can see this number in a cell on the spreadsheet. Then he adds (High-Low)/3 to the Close and gives you your buy signal. Then he subtracts (High-Low)/3 from the Close and gives you your sell signal. The formula is simple, there are no “Excel intricacies”, as the alchemist says. Note that the author “stole” the formula from the stock market, so I feel no guilt in telling you explicitly what the formula is. After all, it is a stolen product, it is not his property.
In my testing on the GBP/USD so far, it seems to work only 50% of the time. One week it is a profit, the next week it is a loss. Which may still amount to a profit, if I set the Stop to 50 pips and the Limit to 100 pips. In other words, the profits would be something like:
-50 + 100 – 50 + 100 – 50 + 100, etc…
I got depressed because my first trade was a loss. But the next week, it was a profit.
I am still testing. I am not happy about the parachute stop loss. It requires manual adjustment and I dream of a system that does not require any adjustment. Just set the signals on Sunday in the FXCM broker and all the next week do NOTHING! The system should work on its own.
I will keep you posted…
This system shows much promise, but I will need to experiment with it more to get the feel for it.
P.S. Note that the USD/JPY signal calculations are rounded to 2 decimals.

Wannabe trader did not rate this post.
Comment by Padma
2008-06-03 19:12:11

I think its still a great package because it is basically a price-driven strategy. Besides you cant get a cheaper trading system and one that is easy to understand at that.Agreed it needs some fine tuning.Actually it looks like 1-2-3 and I am in business kind of situation. Consult the chart, take the price point, work on the formula—-and thats it. Your first trade is on!But I agree with you— that you need to experiment with it to get the feel for it.

Padma did not rate this post.
 
Comment by Doug Subscribed to comments via email
2008-06-05 21:12:24

I couldn’t agree more with you dude. I felt kinda cheated for
everyone when i read abt the parachute stop. So it’s not exactly
a set and forget as claimed.

And so much for the system telling you the best stoploss and take
profit prices. Nonsense. SL and profit target is variable and
you have to decide for yourself. The recommended settings are so
random in the sense it does not take into account…anything.
It’s seems to be a number plucked outta thin air if you asked me.

Hey wannabe, how’s the 50/100pips stop and target thing working for ya?

Doug did not rate this post.
 
 
Comment by monterio
2008-06-05 18:49:47

Forex Assasin—-that is a nice package. I dont think you could get a cheaper and more reliable forex trading system than this one. It surely is a front runner.

monterio did not rate this post.
 
Comment by Wannabe trader Subscribed to comments via email
2008-06-06 11:56:44

Doug,
Thanks for your support.
This week, GBP/USD fell sharply, so it would have generated a 100 pips profit with my 50/100 stop and target. But I need 1-2 months of testing so that I can say for sure if it works. I’ll do some backtesting during the weekend.

Monterio,
I don’t argue about the price of the package, but the reliability could be improved somewhat, I believe.

Wannabe trader did not rate this post.
 
Comment by coles
2008-06-06 18:42:20

Wannabe, I checked this one out. Firstly there is no moving average crossover or any of that technical analysis mumbo jumbo. It seems to work on volatality based breakout system,so for a trader who can bear the downturns and await the profits it works fine. Not otherwise for short term profits.

coles did not rate this post.
 
Comment by lewis
2008-06-19 15:12:56

Not at a scam for sure. But about consistency, I wish I had something on that!

lewis did not rate this post.
 
Comment by adil
2008-06-21 14:45:31

Simple piece of software. kept me +ve so far.Thums up!

adil did not rate this post.
 
Comment by downloadfx
2009-04-09 17:03:09

there are so many kind of Forex software available…you just have to find the one that really suitable for you..otherwise,just doing it manually…great review,thanks for sharing…:)

downloadfx did not rate this post.
 
Comment by jakes
2009-08-06 17:07:46

I guess you got a point there downloadfx. When I buy a software obviously what comes to mind is “that’s the best one in the market” at that point in time, especially as the forex market is constantly changing. I don’t go by the hyped promises at the software’s website, but I sure do pay attention to any data referring to actual performance, say on a “live basis”. So that’s the landscape I always keep lookig to before buying any software.

jakes ratings for this post: jakes gives a rating of 3jakes gives a rating of 3jakes gives a rating of 3jakes gives a rating of 3jakes gives a rating of 3
 
Comment by Ivan
2009-08-22 14:07:54

I didn’t have to consult any charts, indicators or anything at all to run FA. But of course I had to keep track of the currency prices and apart from that FA literally walked me through the trades. It was totally mechanical and I was told when to enter and exit the markets.

What I got was a kind of formula in a spreadsheet. Then I put the price of the currency I was interested to trade and fed it to the FA. It then gave me the entry, take profit and stop loss prices. Thereafter all I did was set my prices and got the profits that came by. Over time I learned that the best thing to do was to fill the spreadsheets every weekend with currency prices. That gave me the entry levels for the forthcoming week.

FA is a price driven system. I didn’t have to see any indicators nor did I have to sit always before the computer as it was using trading zones. But don’t know much about that. I started using FA when my account balance was really low and it worked perfect doing 3-4 trades per month.

I initially worked on FA demo account and only bought the software when I was comforted by the fact that already more than 1000 forex traders were using it. So it made sense to buy one. Their email support was good. Just set it and forget it, that’s what I would say about FA.

Ivan ratings for this post: Ivan gives a rating of 3Ivan gives a rating of 3Ivan gives a rating of 3Ivan gives a rating of 3Ivan gives a rating of 3
 
Comment by Doug Subscribed to comments via email
2009-08-24 05:04:27

Why don’t you keep a log and post your trade records?
Almost anyohe could come up with a system like this I think. Did you really buy it? It is quite easy to get this software for free online.

Doug did not rate this post.
 
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