When I first came across Freedom Rocks earlier this year I was pretty intrigued by it and thought it had some potential. Atte doing my due diligence it ended up being just a carry trade with some sprinkles on top.
The carry trade portion is the core of the trading system, while the daily small buy and sell orders are just gravy.
Most people last year made must of their money in FR on the unrelenting rise in the EUR-CHF and GBP-CHF rates (ditto for the yen cross rates if they were used).
To help out people who might not be familiar with the mechanics behind the way the FR system works I wrote an article on correlations, some of which has already been covered quite nicely on this thread.
The MLM aspect means that it is sold heavily to inexperienced investors and traders. The low recommended capital requirement also means that most people trade the system under capitalized and must use extremely high gearing to even make enough to pay the monthly cost of the program, never mind make any profit for themselves.
There were rumblings and discontent from members at the end of February when the carry trades had a misstep. Under capitalized users following the recommended leverage and margin levels were wiped out. Woe are those who get caught when the current carry trade really does unwind.
My favorite metaphor for this style of trading is still picking nickels up in front of a steamroller.
The carry trade portion is the core of the trading system, while the daily small buy and sell orders are just gravy.
Most people last year made must of their money in FR on the unrelenting rise in the EUR-CHF and GBP-CHF rates (ditto for the yen cross rates if they were used).
To help out people who might not be familiar with the mechanics behind the way the FR system works I wrote an article on correlations, some of which has already been covered quite nicely on this thread.
The MLM aspect means that it is sold heavily to inexperienced investors and traders. The low recommended capital requirement also means that most people trade the system under capitalized and must use extremely high gearing to even make enough to pay the monthly cost of the program, never mind make any profit for themselves.
There were rumblings and discontent from members at the end of February when the carry trades had a misstep. Under capitalized users following the recommended leverage and margin levels were wiped out. Woe are those who get caught when the current carry trade really does unwind.
My favorite metaphor for this style of trading is still picking nickels up in front of a steamroller.
