Like everyone in FOREX arena, we have seen hundreds of trading systems and software programs, yet like everything, there is always a better system, and FreedomRocks was playing the spread on interest more than it was the currency pips, so it was doomed to fail once interest rates dropped.

I stopped using it after a good year in 2007, but it turned south for most in 2008, as did much of the markets. What is interesting about FOREX is that if you have the right system, you can make money in any market, even during a depression, never mind the recession we are now deep into currently.

I am always evaluating the latest systems, and if you are like me, you need to check our the new breakthrough from IntelaTrader.com I have been using free evaluation trial, and frankly, this is too good to be true unless you see it for yourself. Company is so confident in software that they are using a Free $100K Term Life Insurance Policy just for registering as an affiliate to evaluate software. I have seen it all, and never have I seen any company give away a few thousand dollars in hard value benefits for Free.

Check it out for yourself, don’t take anyone else’s word for it, register to get your Free benefits, no purchase, no obligation, no credit card, no SS#, just try it with name and email only registration. You won’t risk a dime, just a little time to set it up and then set and forget, this system is hands free, no chart tracking, no market watching, it is all done by software, you simply decide what your risk tolerance is and what currencies you want to trade, IntelaTRADER does the rest.

Success to all,

Did they both just ‘dud’ out??

Cheers
HiDAVE

First – nobody should be trading money in the Forex – or anywhere else – that they can’t afford to lose.

Next – FR is much better seen as a long term ‘Investment Strategy’ vs a ‘Trading’ system.

Third – I believe greed and or lack of respect for the occasional worldwide market meltdowns caused the bulk of the problems back in Febuary. We were guilty of this (by trading the JPY)and admittedly got spanked soundly. We also learned our lesson and have once again entered (and are profiting from) the market using the FR system.

NO ‘system’ is perfect. Yes – some people using FR did get margin calls in Feb due to the finacial market meltdown triggered in China – but we also need to remember that that 90% of the people who enter the finacial markets as ‘traditional traders’ (ie -NOT using FR system) also go bust in about 3 months – even without having to contend with a crisis like occured in Feb.

Forth – I have been studying trading the Forex in the traditional/directional manner for close to a year – and I’m STILL not successful at it. Anyone entering the markets -imho – would do FAR better putting their time and money into the FR system than in thinking they are going to succeed as a normal trader.
If you insist on learning to trade – like I stubbornly do -I would still use the FR system while studying the art/craft/science of trading. That’s because it’s going to easily take hundreds if not thousands of hours of study and ‘screen time’ to even begin to be a decent trader – not to mention the money most people spend on their trading education and your trading losses while overcoming the ‘traditional trading’ learning curve etc.

Lastly – I would never trust ‘forexforsmarties’ for a number of reasons. Aside from likely being a wanna-be copycat of the FR system; their website doesn’t even tell you where they are located, and I see only one person’s name on the entire website(first name ONLY).
Even their domain registration has been made private on purpose and gives no clue as to who they really are. What are they hiding?
Also, I do NOT see any opportunity to ask the ‘president’ of ‘forexforsmarties’ questions via conference calls.
In contrast – FreedomRocks isn’t hiding – and has calls twice a week that allow ANYONE to ask Mark questions directly.

As I said in my earlier post – Deb and I are proud to be ‘reps’ for FreedomRocks – and are more than happy to help others get up and running – so feel free to contact us. JK

I’ve never *ever* seen a broker that actually updates their demo accounts in this matter – it takes up a lot of processor and man power to do it. And since your money isn’t any good to them, and it makes it more likely you’ll get a real account – Demo and Live trading are almost *never* the same

Unless you happen to find a 30 day period that has absolutely no *decent* news – Which, lately, that doesn’t happen.

I’m not hard on FR, I’m just speaking the truth.. and by the way I don’t care about demo accounts, I’m talking about many people with LIVE accounts.. people who don’t use forums or blogs to talk about their experiences, people who use telephones only, people I know. You don’t have to believe me, but I’m telling you that a lot of people were wiped out.. I have some sources inside the two main brokerages that they (FR users) were using that told me as well. I’m not hard on anyone, I’m just telling you what happened, that’s all. Make what you want of it. Yes I agree it’s rare that these things happen, but that doesn’t get people their 40,000 dollars lost (that’s one example of one guy who joined in February, and he wasn’t overleveraged)

Absolutely false. I can tell you of many, many people who were trading the same pairs as Mark V. (GBP/USD, EUR/USD, and USD/CHF) with only 10% margin or less, who hit margin call. Why? Because of timing. Mark V. didn’t hit margin call because his account equity had been building up for a while (since he rarely compounds). However tell that to the poor souls who joined FR in early February, who followed the instructions, and the market tanked on them – I can assure you there are many.

The only people who *didn’t* hit margin were the ones trading EUR/USD vs USD/CHF and/or people who had their equity was past their balance, in other words people who had gotten in at the “right time” such as earlier in January or even earlier.

Nobody who traded within the recommended advice got anywhere near a margin call.

Repeated warnings were given about the Yen and GBP on every conference call.

I have received emails from people in other lines of sponsorship who plainly haven’t got a clue and I think Mark V should tighten up on rogue/irresponsible promoters very soon.

Rgds
Mike

1. As i said earlier, i was new to forex. The rep who was guiding me all the time indicating that the yen was volatile. But in his words … it was a generally accepted thing that trading all 4 currencies provided a “good mix of volatility and interest”. I dont think Mark has ever said that in his calls.

My foolishness was that i did’nt really have any high fancy goals – all i wanted was steady increament in capital LONG TERM and i thought i had the stomach to take 30 – 40% up / down in volatility. At least that’s what i thought volatility meant. Has anyone been given a definition of volatility??
Maybe i was wrong there ..

2. Another stupidity on my part – the system seemed so easy that i actually went out and asked my rep…. “so if its so simple, what’s really the point of listening to Q & A calls??” When my equity started falling, that’s when i started to listen to the audio recordings and realised what i had done.

My earlier comments about “Mr.Mark’s music” are uncalled for – i’m sorry in a fit of anguish and pain i wrote those. If i had to live my life again, i would not write such a thing for someone … anyone.. I’m sorry for that.

I still stand by my belief that newbies should find out more ..as much as possible … before playing with real money. Risk capital or no risk capital – we’re not mafia…its hard earned money for everyone.

Agent 725 – My portfolio too was a part of “diversification”. But to watch your money blown away in 3 days… you save all those dimes and nickels …watch it grow and KABOOOM!! And what about newbies who JUST ENTERED THE MARKET before the crash. I wonder if they even have thought of posting their experience.

Sorry to get longwinded…whoever is reading this – PLEASE BE CAREFUL and study before you step into this. NO MATTER WHAT THE PERSON ON THE OTHER END IS TELLING YOU. Its YOUR hard earned money.

FR Specifically states to only use two of the pairs. This is the reason. Now granted, you can definitely go to 4 pair trading if you know how to correct the margins for such a feat.

As Propeller pointed out this has been a *giant* downside for the market recently. One of the worst drops since 9/11 in the states. The japanese are having similar issues. While the European market was going for the stars again.

The fact that these systems *can* work if you know what you’re doing is absolutely fine. They will get you somewhere, all be it slower, and you’re going to have horrible downtimes. But this is *normal* for forex.

A major difference between stocks, commodities and forex is that you *expect* to have bad days in forex. You’re going to lose money sometimes, you just have to know if it’s worth holding out or if it’s going to continue to go down.

/end rant/

In any event, as far as ‘Mark’s Music’, I’m trading 5 accounts right now and am down 12%-50% but have not ‘busted out’ after one of the most drastic market ‘corrections’ in recent history. In my book, that speaks to the resilience of the system durring a time that’s entirely out of the ordinary.

Again, I’m sorry that your account was wiped out but I think that things will bounce back and if nothing else, the interest component will continue to paid regardless of the where the market moves as long as people stay in the market.

i just want to warn everyone to be v.v.v.careful. i started out demo trading FR – loved it – market was on the upside – eventually i decided to go in real money.

invested $31,000.- and guess what – it kept going upwards.

the real horror story started last week – from 37,000.- USD the total equity of my account went down to $880.-!!!! Yes folks $780.-. More than 95% wiped out !! And i’m a newbie so i was trading exactly what i told to trade – 10% margin – 400:1 – all 4 currency pairs. I was told the JPY had more volatility – but never told that if it went down 400 to 500 pips, it could WIPE OUT my account.

I’ve exited my JPY orders – badly bruised.

Please be careful with F.R – if the market starts going down – all that lovely music about buying low and selling high and collecting interest will feel like a piece of crap.

And the best part is when i write to FR they write back to me …..at the end of their email they give u a full A4 size page full of legal terms and conditions (obviously safeguarding their legal ground which i fully understand) and that lovely email ends with “Have a great day” !!!

The system works fine if everything is flat or moving up / down in small cycles. The moment there is big downward wave, THE LAST THING YOU WANT TO DO IS BE hooked to Mr.Mark’s music.

As far as strategies go for investing in Forex, the most important skill that one needs to make top priority is account management. Watching margins is by far the only real threat to loosing ones account. I do believe with proper account management that any trend can be weathered, be it Long or Short. Hedging is a great tool that not all brokers allow. Alot of brokers consider Hedging of any two opposite positions within 15 pips. Some or more, some are less. A few brokers will alow you hedge unlimited positions at any pip range. Then there are other brokers that will combine all open positions into one. Investing in Forex will rarely work for people that only consider it a hobby. It has to be respected and has to be taken serious enough as to do ones homework with charting and analasys. I fear that I am getting off topic here and if I am forgive me. Let me leave you with these few tips regarding Forex. If your an investor in any sort of other investments like stocks or futures, your cheating your portfolio if your not into Forex as well.. If your not an investor, stay as far away from stocks and futures as you can and focus on Forex. There is more money in Forex with much less (calculated) risk……Thanx For reading…Adams35@gmail.com

First off – I don’t sit and watch my PC 24/7. Most successful traders have no need for that either. We develop methods (which can be babied of course and up the daily percentage if need be). I can make, pretty easily a 25% monthly profit (more if I want to want to put more effort into it, etc) But that’s as well sitting there watching charts and such for maybe half an hour a day. Granted, I do usually sit here and watch it much more then that – I like what I do. It’s fun to watch your money build. Maybe it’s just me

I will admit though, I do some of the same stuff freedom rocks does, with a more pliable approach to it. And taking earnings and such at times.

But as several here have pointed out – I’ve watched plenty of people go belly up with freedom rocks as well. So maybe that’s why I keep my 10 feet away from it.