I won’t say too much more about it, because you can read my full review of the service here, other than to remind you that they are currently offering a 50% discount on the first months membership. This, I understand, is only a temporary offer, so now would be the time to get in and test it out for a month at half price.

Click Here to go to The Trading Method website.

Well, as many of you will know, I have been testing the effectiveness (or otherwise!) of a new Forex trading signals service prior to its release to the general public. After around 6 months of me trying out this service, I thought it about time I gave you some more information on how I have been doing with it.

The results I have posted here on this site on a week by week basis are accurate as to how much profit or loss I had from actually placing trades, based on the signals provided by this service. A quick tally of these results reveals I am currently in profit by 518 pips over this 6 month period. As you can see for yourself, I did have a few weeks when I came out at a loss, but a few weeks that yielded very high profits, combined with a more modest profit level on other weeks, returned a significant overall profit for trading in the second half of last year.

Anyone interested in using Forex trading signals that boast achievable profits, without unrealistically high claims, will be interested to know that it is shortly to be opened to a small group of members. This is intended to act as a final testing phase of the system before being released on a wider basis, and as such new members can get in at a 50% discount on their first month during this time. Full price details are yet to be released, but will appear here as soon as they are.

The service provides signals during the London session only, between 7am and 4pm at the current time in the UK. They have 2 levels of membership, which is designed to cater for someone who will only want to make occasional trades on less risky transactions, and those for whom trading is pretty much a full-time pursuit. Those in the second category pay more for their membership, for which they have access to a number of additional trades. These additional trades are riskier in general, and it was these trades I found to be responsible for some of the outstanding weeks of profit I experienced. If you are serious about making a real income from Forex, trading signals are a good way to earn while you learn, and I would strongly suggest you pay the extra for the advanced signals offered by this service.

In a typical days trading, I have been receiving between 4 and 8 trades. All trades are opened and closed the same day, this service does not deal in trades that you leave on overnight. For each signal they give, you get the currency pair, the buy or sell price, the point at which you should close your trade and take the profit, the stop loss and any time limit on placing the trade. The information is delivered in a clear and concise way without any extra non essential details, allowing you to digest the information and get your trade on as fast as possible without distracting you from Forex trading.

Signals are delivered to members by simultaneously posting them in the members area of the site and by email. Due to problems with reliability, the owners have opted not to deliver their signals via SMS, however it is possible to receive SMS notification of when a new trade has been posted and emailed to you via integrating their signals with Twitter. Provided you live in a country where Twitter supports SMS notifications themselves, this works quite well. For those in unsupported countries this may be a drawback, although it has long been possible to configure free email services like Hotmail to send SMS notifications (subject to reliability of course).

For those fairly new to Forex trading, signals and how to place a trade, some useful information is provided in the members area regarding brokers and spread betting companies you can use to place your trades. Email support was responsive and quick, although I only contacted them with an issue once. All in all I found their website easy to use, and registration with Paypal was quick and hassle free. I personally found it easiest to read new trades as they are posted in my email, rather than keeping their website open (I generally keep my email open in a tab all day once I get started anyway).

Most of these details of the system are insignificant though, if the signals themselves don’t yield profitable trades (as is the case with a few Forex trading signals services I have tried in the past). I am pleased to report that, on the whole, I have found using their signals has added an extra dimension to my day to day trading. Whilst not suited to everyone, their advanced signals can make a significant positive difference to anyone’s bottom line. For the novice, the basic signals package offers a good way to get a feel for trading with minimal risk, whilst the advanced signals give an experienced trader daily opportunities to make good returns they might otherwise have missed.

All in all, my experience of using these Forex trading signals has been positive, and I am more than pleased by the quality of the trades provided. While the occasional weeks when I failed to make a profit from it are always disappointing, the losses have never been anywhere near catastrophic and are to be expected. With 518 pips profit under my belt, I am confident that this service provides a good balance between achievable profits and manageable risk levels, and am looking forward to continuing my trading with them throughout 2011.

For the record, I am myself in no way connected to or affiliated with the ownership and management of this Forex trading signals service, and these views form my own personal and impartial opinion.

Thanks for reading this review, and here’s to a profitable 2011!

The Pound started the year very uncertain as the UK began to emerge from recession, but that uncertainty started to clear once it was realised that a coalition government would be formed after a very close general election. This good news was short lived though, as the debt problems in Greece and then Ireland put more pressure on Sterling. The current outlook is far from sure, and I think we will see quite a bit of volatility for the pound in the early part of 2011.

Well, the Euro year can be summed up in one word: debt. In May, Greece took a 110bn Euro payment from the European Central Bank and IMF, then at the end of November it was Ireland’s turn for a 67.5bn Euro bailout! From starting the year at 1.45 to the Dollar it fell as far as 1.19 during June but then rallied until the news from Ireland. I think the ‘D’ word will continue to be the watch-word for the Euro with the markets looking at Portugal and, heaven forbid, Spain to see if they can put their houses in order.

Over in the US, the economy finally climbed out of the largest recession since the 1930′s in the first quarter of the year. Helped by a couple of huge shots in the arm from the Federal Reserve in the form of quantitative easing (printing money!) the Dollar has been on a rollercoaster this year. Finishing the year slightly higher against the Euro and Sterling but near a fifteen year low against the Yen, which it reached in October. The whole world will once again be looking the US economy in 2011 to see how they tackle the massive deficit and high unemployment.

Any time of highly volatile market conditions will require some degree of adjustment to one’s overall trading strategy, and this year proved itself to be one of those periods. Although these conditions can provide good opportunities for profit, many traders will be looking to the markets to stabilise in the year ahead, allowing caution to give way to more aggressive trading strategies and the opportunities for profit they bring.

Happy New Year!

Question: How many trades on average do you get a day?

Answer: Well, it really depends on  the markets, but i’ve been getting around 3-4 a day based on 6 currency pairings.

Please send any more questions to me at admin@forexmentalist.com and I will try to get back to you. I will post any I feel are particularly useful and relevant here. Thanks!