Forex Automoney is a new forex signal service that has received quite a lot of praise, so I decided to give it a go and see what all the fuss was about. First thing that strikes me is that this service is aimed at delivering easy to use, turnkey style signals. No confusion or room for interpretation. Forex Automoney is developed by a certain M. Festner, with no first name. Well, I guess this forex guru does not need to show us mere mortals his first name. Jokes aside, I know Forex Automoney has grown quite popular already, so it deserves a fair review. Let me just make a short pre-emptive statement for those of you looking for a forex robot: Forex Automoney is not an automated forex robot. It’s a signal service. The difference is that this service will give you exact trading recommendations but it will not trade for you automatically. That’s not a bad thing though, which I will explain later on in this review.
Let’s dig into Forex Automoney a bit then, shall we? Forex Automoney is as mentioned already a professional signal service. The kind of membership club where you have a bunch of professionals analyzing the forex market continuously and using their advanced software to make recommendations. The end result is what you get: Intra Daily, Daily and Weekly recommendations. So, in recap, it’s essentially the same as having a trading desk work for you AND having an automated forex expert advisor crunch the numbers. Unlike a robot though, you will have to do the trades yourself, which is an advantage in my opinion as you have greater control and understanding of what is going on.
Let’s have a look at what you get with the Forex Automoney subscription:
- Forex Trading Guide
- Forex Trading Newsletter Updates (Free, even if you don’t buy)
- Forex Automoney Signals (Intraday, Daily, Weekly)
So, that’s rather standard for this type of service. No fluff or fancy wrapped ebook, which I appreciate because it really comes down to the profitability of the signals. Forex Automoney gives you three choices. You can get several signals each day (Intra Day), one daily (Daily) or you can choose to receive signals on a weekly basis (Weekly). So, no matter how much time you have to trade, there’s a choice that will fit you. A signal that you receive will look something like this:
- Currency Pair: EUR/USD
- Type of Trade: BUY
- Time to Enter:10:00 PM EST
- Get Profit: 120 Pips
- Stop Loss: 50 Pips
The signal will give you all the info you need to make a successful trade and take home the profit. Just as important it will also tell you when to stop and cut your losses.
What I liked:
- Profitable Signals
- Flexible Signals
- Easy To Use and Apply
- Good Support
What I didn’t like:
- Little Bonus Material
- Sometimes Too Many Signals To Choose From
Let’s get to the conclusion that you have been waiting for: Did Forex Automoney make me money and if so, how much? I currently run several systems simultaneously, including my own, which makes it easier to determine which ones work, and which do not. I started up Forex Automoney with a small deposit of only $1000, because I wanted to simulate a new traders situation. One month later my account was up $2076 for a very healthy profit. I doubt his phenomenal profit will last the year, but even if it drops somewhat in profit, it’s still a remarkable return.