Forex Systems and Advisors

Thought I would post a few thoughts on some of the forex signal systems, training systems, and advisors I've come across lately...

Forex Bastards - Felix Homogratus (thats his screen name, but he does publish his real name as well) has both a section where he reviews other systems and an advisory service himself. Bit of a conflict of interest there. I have been receiving his daily free alerts for a while though, and he definitely shows promise. If you sign up for his subscription service ($250 a month, about to increase to $275) you get access to a live trading room where he actually discusses the trade before and during it. He's a news trader and was working with another more well-known news trader named Tom Yeomans, but they are about to part ways. I have not tried to trade Felix's signals on a demo but they definitely seem like they might be good. He has contacted the owner of oanda, his favorite broker and mine as well, about the size and type of trade he does, and received slightly-grudging approval for his tactics so not a huge risk of having his account closed. He also is a huge advocate of withdrawing profits weekly as a form of mental discipline. Since trading is all about discipline, I applaud that recommendation. If I ever move to a more involved trading strategy than I am currently following, I will definitely try this.

Freedom Forex - this is the site that Felix was running for his pal and mentor Tom Yeomans. Not sure what will happen to the site when Felix and Tom part ways in Sept but I imagine Tom will find someone else to run it. Tom has been around for quite a while and is a well-known entity in the forex trading universe. He also is a news trader although supposedly more conservative than Felix. Tom has a live trading room as well. Tom's subscription service is more expensive than Felix's but there is a small window of opportunity to join for cheaper, around the 20th of every month. If you are interested, keep an eye out for it. Tom's is also a system I would consider testing if I change my current forex strategy.

There is a third news trader site, FusionATS, which I have not yet reviewed personally, but which DrunkOnLife likes very much, and he has been testing the Tom Yeomans system as well. The FusionATS live trading room is much less expensive - $89.95 first month, $60 per month after - or there is a yearly option as well.

I have not researched many other systems but I can warn you off of one in particular - WTA, also known as Winning Traders Association. This guy is a marketing genius (witness his ebay sales) but he is NOT a trading genius. All I have seen him do (and I have known of him for at least 6 months) is take other people's ideas or sytems and market them as original. He used to have "the perfect hedge" on there (which he no longer promotes), and also the NFP (aka news trading). So dont waste your money on him.