FX Friday

[everydaytrader]

Not so sure about the USD/JPY one. The manual says enter only the lead 4 digits of the exchange rate and this came up as a no trade for me. I got a trade when entering the five digits from the chart information window.

My potential profit on the AUD/USD was 40.5%

I guess it can depend on what time you place your trades, there is a four hour window
and the figures can change in that time, my potential profit on AUD/USD is 33% and
I still get a trade on USD/JPY potential profit of 34%.

Going to have another read of the manual over the weekend to double check everything
and see if I made any mistakes.

Might be worth re-running the figures on Monday morning when the weekly candle will have closed and everyone should have the same figures and profit potential.

 

[wilczek]

I got offered eurusd, gbpusd and usdjpy - could only get odds on usdjpy so i took it at 31% - sft did same only they moved target our a few pips for 30% - back next week to report progress

 

[Makasu]

My AUD/USD bet just came to within 10p of losing! Not looking like a good start...

 

[everydaytrader]

My AUD/USD bet just came to within 10p of losing! Not looking like a good start...

Yes a lucky escape for now, but still three and a half days to survive. Any loss using
this system is going to be a problem let alone the first trade.

 

[goldfinger777]

It will be interesting to see what the "official" results are when the first results email comes through. Because for me, AUD/USD wasn't even flagged as a valid trade, the only 2 I got where GBP/USD which wasn't offering good enough odds, and USD/JPY, which was offering 30%. I made this trade and so far it looks like it's on course to win.

Thing is, the results you get from the spreadsheet all depend on what time you enter the figures, and what charts you are using. For example, using the figures from IG Index charts would give you slightly different results to the FX Street charts.

 

[LBOSH]

Game over - AUD/USD has gone below the 'no touch' level.
Not a good start. USD/JPY trade looks a bit more hopeful but even if it wins, 1 loss out of 2 when I got 36% on AUD/USD is worrying.

 

[everydaytrader]

Game over - AUD/USD has gone below the 'no touch' level.
Not a good start. USD/JPY trade looks a bit more hopeful but even if it wins, 1 loss out of 2 when I got 36% on AUD/USD is worrying.

I've lost this bet on AUD/USD as well, never mind with no more losses we should
be back in profit by about 2017

Interesting to see other people did not get this bet, looks like we were unlucky
and ran the figures at the wrong time, with such a big window results are
going to vary from trader to trader.

 

[LBOSH]

AUD/USD trade only became a positive trade at market close on Friday so I placed it on Monday morning.

 

[everydaytrader]

AUD/USD trade only became a positive trade at market close on Friday so I placed it on Monday morning.

Unless I did something wrong AUD/USD came up for me late on Friday, I think I placed
the bet somewhere around 9.30pm.

 

[Makasu]

Unless I did something wrong AUD/USD came up for me late on Friday, I think I placed
the bet somewhere around 9.30pm.

Around the same time as me.

 

[LBOSH]

Around the same time as me.

Yes, I placed USD/JPY trade earlier on Friday evening so AUS/USD trade became available after that.

 

[Strongbow]

My manual arrived today. On the inside cover It says "The information is given for entertainment purposes only". I don't recall having seen a disclaimer worded in quite this way before.

Having read both the manual and this thread I suspect the method will not work in the long run. To my mind the big weakness is that we punters are betting against both the FX market and Bet On Markets. Another factor is that there is no universally agreed weekly open and close times for the FX market - ergo no common open and close prices.

I'm feeling dubious about the merits of the method already.

 

[LBOSH]

My manual arrived today. On the inside cover It says "The information is given for entertainment purposes only". I don't recall having seen a disclaimer worded in quite this way before.

Having read both the manual and this thread I suspect the method will not work in the long run. To my mind the big weakness is that we punters are betting against both the FX market and Bet On Markets. Another factor is that there is no universally agreed weekly open and close times for the FX market - ergo no common open and close prices.

I'm feeling dubious about the merits of the method already.

Me too - I reckon that one loss in 8 is tolerable but any more than 1 in 8 and on my calculations using the same stake each trade, and if you assume the same odds for each trade, it will lose you money over the 8 weeks. I will only place very small amounts now to see how this pans out and if I get another loss in the next 7 weekly trades then I will call it a day and ask for my money back. Having a loss in the first week does not instil confidence!

 

[goldfinger777]

I agree with the worries voiced so far. The risk/reward ratio is horrible. The system needs to maintain a minimum 80% strike rate, otherwise it will not be profitable.

The publisher of FX Friday has been very clever with the sales letter in that it uses the term "payout" instead of "profit". The 2 are not the same thing, but when you are reading through the letter and seeing ££££ signs before your eyes it's easy to construe payout as being the same as profit, and that's what the publisher relies on to sell the system.

"£100 payout" with this system does NOT equal £100 profit. If you win, a £70 stake will only yield £30 profit most of the time, if you're lucky! So yes, it "pays out" £100 if you win, but that's not £100 pure profit unfortunately!

 

[bombettor]

Fx friday - the truth

I was in talks with agora - a few months ago - regarding a betonmarkets strategy I was using. The strategy worked fine for me for about an year. Then I started upping my stakes and also giving the signals. What I noticed, the odds offered by bet on markets worsened as more people srtarting using the same no-touch strategy. Mine was daily breakout strategy.
So, coming back to my interaction with Agora. They were interesteed in my strategy. I mailed them a small write-up and my comlete excel sheet which I use to come up with signals everyday. After that, they got back to me asking me to further describe my strategy as they found the excel sheet slightly less explanatory. I explained the strategy again and then was asked to send document to them with some chart examples. But I didn't pursue it further. Bceause, I didn't have time for that. And scond, I believed, the strategy will not work if too mnay people follow it because there is only Betonmarkets which provides - and they are known to worsen the prices.

And now I see this FX Friday. Complete rip-off from my strategy. Only thing changed has been, moving it from daily time-frame to weekly time-frame. And the concept of breakout startegy has been just reversed to come up with no-touch. I can assure T2W members, it won't work unless more services like Betonmarkets come up. And yeah, I'll be contacting agora, to see whats there explanation is. Else, I've my email records as a proof.

 

[Dubai]

Re: Fx friday - the truth

I was in talks with agora - a few months ago - regarding a betonmarkets strategy I was using. The strategy worked fine for me for about an year. Then I started upping my stakes and also giving the signals. What I noticed, the odds offered by bet on markets worsened as more people srtarting using the same no-touch strategy. Mine was daily breakout strategy.
So, coming back to my interaction with Agora. They were interesteed in my strategy. I mailed them a small write-up and my comlete excel sheet which I use to come up with signals everyday. After that, they got back to me asking me to further describe my strategy as they found the excel sheet slightly less explanatory. I explained the strategy again and then was asked to send document to them with some chart examples. But I didn't pursue it further. Bceause, I didn't have time for that. And scond, I believed, the strategy will not work if too mnay people follow it because there is only Betonmarkets which provides - and they are known to worsen the prices.

And now I see this FX Friday. Complete rip-off from my strategy. Only thing changed has been, moving it from daily time-frame to weekly time-frame. And the concept of breakout startegy has been just reversed to come up with no-touch. I can assure T2W members, it won't work unless more services like Betonmarkets come up. And yeah, I'll be contacting agora, to see whats there explanation is. Else, I've my email records as a proof.

With all due respect, a breakout isn't ground breaking stuff, there are hundreds and hundreds of variations of it.

Who did you deal with at Agora? I'm in neogatations with them now.

 

[Dubai]

My manual arrived today. On the inside cover It says "The information is given for entertainment purposes only". I don't recall having seen a disclaimer worded in quite this way before.

Having read both the manual and this thread I suspect the method will not work in the long run. To my mind the big weakness is that we punters are betting against both the FX market and Bet On Markets. Another factor is that there is no universally agreed weekly open and close times for the FX market - ergo no common open and close prices. I'm feeling dubious about the merits of the method already

The market closes at 1700 EST on a Friday, I think that is pretty universal. I believe that is how 95% of pivots are calculated for Monday open.

 

[bombettor]

Re: Fx friday - the truth

With all due respect, a breakout isn't ground breaking stuff, there are hundreds and hundreds of variations of it.

Who did you deal with at Agora? I'm in neogatations with them now.

Dubai,

Agree breakout isn't groundbreaking stuff and hundreds of systems based on that.
But I didn't mean the conventional breakout system. I was referring to breakout bets on betonmarkets in which we bet that the ccy pair will hit either barrier. And it didn't utlize any typical breakout trading methods. It utlized a similar excel sheet which is now part of fx friday.
I was in talks with Darren.
Hope this info helps.

 

[Dubai]

Thanks Bomb, didn't mean to come across as rude.

Maybe see what they have to say.

 

[dave114a]

Re: Fx friday - the truth

I was in talks with agora - a few months ago - regarding a betonmarkets strategy I was using. The strategy worked fine for me for about an year. Then I started upping my stakes and also giving the signals. What I noticed, the odds offered by bet on markets worsened as more people srtarting using the same no-touch strategy. Mine was daily breakout strategy.
So, coming back to my interaction with Agora. They were interesteed in my strategy. I mailed them a small write-up and my comlete excel sheet which I use to come up with signals everyday. After that, they got back to me asking me to further describe my strategy as they found the excel sheet slightly less explanatory. I explained the strategy again and then was asked to send document to them with some chart examples. But I didn't pursue it further. Bceause, I didn't have time for that. And scond, I believed, the strategy will not work if too mnay people follow it because there is only Betonmarkets which provides - and they are known to worsen the prices.

And now I see this FX Friday. Complete rip-off from my strategy. Only thing changed has been, moving it from daily time-frame to weekly time-frame. And the concept of breakout startegy has been just reversed to come up with no-touch. I can assure T2W members, it won't work unless more services like Betonmarkets come up. And yeah, I'll be contacting agora, to see whats there explanation is. Else, I've my email records as a proof.

Did you say this was a service offered? Would certainly be interested in seeing your results to see how this strategy got on. I would think that there must have been many people trading this to alter the odds. Can you share the results with us?