Comments on: has anyone in england heard of Louise Woof? She has system for forex trading.?

By: Chris

Chris — Thu, 04 Mar 2010 07:41:50 +0000

Hi,
Her system ( which is called Foolproof Forex ) supposedly has had very good results but my own testing of it didn’t prove very successful. It is based on the movement of forex prices after announcements are made but in my own tests (which I admit were hardly exhaustive but sufficient for me decide the method wasn’t for me) resulted in me getting ‘stopped out’ too many times. Now, as my disclaimer, I’m not saying here that the method doesn’t work because over a period of time it may be profitable. For me though, in my own tests, it didn’t prove to be so.

By: Hidden Dragon

Hidden Dragon — Thu, 04 Mar 2010 07:15:54 +0000

SCAM SCAM SCAM……

if there was a system, y would they sell it and NOT keep it to themselves…

if u knew a way of making good money, would u sell it? NO !

By: Common Sense

Common Sense — Thu, 04 Mar 2010 06:50:53 +0000

Forex trading is more about “Money Management” than picking the right direction. There is no “system” for Forex. The few (very few) people that sell positive results (honestly) are usually “winning” about 55-60% of their trades. In addition their “drawdowns” are beyound belief…… like 25% – 50% or more. Not a fun way to make money by most standards.

Learn FX, create a model of trading good for you & follow tight money management rules. Seek out some books which include the psychology of trading. One of which I’d suggest is;
“Trading For A Living” by Elder.
Best of luck to you!

By: Thin Kaboudit

Thin Kaboudit — Thu, 04 Mar 2010 06:30:29 +0000

The ONLY people who make any money related to Forex trading are the people who sell “systems to make money Forex trading”. It’s all bogus. No-one can tell the future (much), so think about it, if you really could make money by Forex-trading, why would ANY country in the world ever have a poor economy? Would wouldn’t the government of Zimbabwe, for instance, use their considerable assets to leverage their way out of a crisis using “Louise Woof” wisdom?

Unlike the stock market, “Forex-trading” relies on someone else losing money for you to make money. That’s a “zero-sum” game, which is not the way the international economy actually works. In practice, YOU are the one that loses money, and the folks selling the “system” are the ones that gain.

Don’t waste your money…