As a long time lurker on these boards, trying to soak up some knowledge whilst at the same time trying to wade through the BS and ignore the general nastiness on here!
Bedtime trader is another over hyped, over marketed effort from the Agora/Money Week stable. It's portrayed as some 50+, Mr and Mrs with nothing better to do than figure out MT4 coding!? effort to assist the masses.
As one of many searching for the promised land of the ultimate system that allows me to give up my day job and spend more time enjoying my free time, I decided to give it a go on the basis that I could get my £350 back if it hadn't made me money within 60 days.
Firstly, the guarantee was genuine and as it didn't work for me I was refunded in full. I was also refunded by GKFX (recommended kick back partner) for the total amount I lost whilst trialing the system.
Now the interesting part. Other than the fact that if you search on LinkedIn for the simple Engineer called Kevin that created the system, you end up with a profile of a person who seems, shall I say, far more comfortable being part of a software trading house, the system is actually more miss than hit.
The system works on the basis of scanning 100+ Forex pairs, looking for Doji candles on a 1 day time period. If the automated system detects a Doji (Dargonfly/Gravestone) you are alerted to the fact so you can place your bet.
The limitation for me was the frequency and the spread of the platform. (and my personality!)
I thought that the indication part of the system worked reasonably well (2/3 chance) WHEN indicatedl. The problem being that if the system triggers a signal because the (making this bit up) Chilean "what not" moves against the Albanian "thingy" by 100 pips but the spread from GKFX is 50 pips, you can be right but still lose money!
And that was part of the problem, the indications were few and far between, and the ones that were indicated had enormous spreads.
Let me be clear, I lost most of my money chasing Cable in the wrong direction (on the basis of Moneyweek advice!) independently of what the system told me to do. This only goes to prove that if you have a trading bias you might as well give your money to a charity of your choosing. But regardless, the system doesn't have the frequency or a close enough spread to make good money on a consistent basis.
As another tool to add to the arsenal drumming up pips from time to time, I think it useful. As a dream ticket to the rich life, absolutely not.
