Forex morning trade is a mechanical system of trading currencies developed by Mark Fric and marketed as a product currently retailing at $97. For the $97 fee, the investor receives an e-book and the relevant files to operate the system using the Meta Trader 4 (MT4) platform.
The system is based on making a single trade each day at a fixed time, trading the GBPUSD currency pair. The system advocates making a long or short trade each day, based upon a simple analysis of the level of momentum and CCI of the currency pair, for which a trade is then set up with a relevant profit and stop loss point in pips.
Forex Morning Trade: Is the Product a Scam?
In the first instance, it should be stated that the product is not a scam in the traditional sense of the term. The product in itself does not promise future returns, only that the system in the past has yielded significant positive results for the developer. In addition, the developer of the product publishes his own trading results on a daily basis, based upon trading the system.
One of the interesting parts of the product is that the buyer receives access to two key resources, the Forex morning trade forum and Mark Fric’s personal trading diary. Although anyone interested in the system is encouraged to do their own back testing, analysis of the forum and trading diary would seem to suggest that for a significant period of time, between January 2009 and March 2011 the system has yielded positive results.
Can I Make Money From Forex Morning Trade?
While previous results have been encouraging, for the investor looking to buy into the product today, it is recent results that will be of interest. Unfortunately, reporting in recent months, since around March 2011 to September 2011 have seen only moderate returns and in some cases losses. The question is, has the FMT system run out of steam?
While Mark Fric advocates sticking with the system, many in the forums have now reverted to demo accounts and lost faith in the system. While the product may be seen as a legitimate one, one should of course remember that Mark Fric has a vested interest in selling the product, giving a bias towards the use of the system.
While every investment is a personal choice, the results speak for themselves, the FMT system no longer produces the same results that where seen in the first few years of operation. As such, this may be one for continued testing in a demo account until further consistent results are seen.
Frank Smith - Frank Smith currently works as an full time industry analyst for a well known construction company in Lincolnshire. In his spare time, ...
