The Testing Team are currently reviewing Near Trading. Below are their review updates.
10th March 2013
I have been following another forex trade room since the 4th February which I understand was originally run by the folks behind Level Trader FX but based on what was termed the Boss Trading method. It is now the property of Sid Coull who has tweaked the method and made it his own. Sid calls the trades on GBP/USD & EUR/USD from just before 7:00 am with the aim of making a profit of 40 chart pips (ignoring the spread). He sets his maximum day’s loss at 40 pips, and win or lose he has finished by 10:00 am.
However the room is left open in Sid’s absence until 5:00 pm with visible signals for attendees to follow should they wish. You can read about this at http://www.betting-school.com/neartrading where there is a free week’s trial before paying £100 subscription a month. This site also shows the performance of Sid’s personal trades and I can verify that the last 4 week’s figures are accurate. Including the 1st March he called 72 trades, 50 were winners, a strike rate of 69.4% and made a profit of 546 pips after deducting the spread. Of the 19 trading days only 3 were losers, the worst lost 48 pips, the best made 102 pips and the average session gained 28.7 pips.
As Sid would be the first to say this is not the Holy Grail – you have to have patience and ready to be quick fingered as it is only you that can pull the trigger for entries and exits. Following the calls is not always easy as Sid uses flexible stops in order to give his trade breathing space and he may make an unexpected “judgement call” which is all part of his philosophy that “trading is an art – not a science”.
So if you do try this out don’t expect to match Sid’s performance straight away, there will probably be a learning curve. Start small and hopefully build your stake from your profit.
I will continue monitoring for another month and let you know how I get on.