Forex Confidante
A Must Have System - Recommended
Hi Guys
Few months I have bought Forex Confidante, a solid forex course written by the king of Forex Tom Strignano, yes the same guy offering the successful Strignano Forex Signal Service.
When I bought the book, I simply went through it – lazy me. Although you don’t need to be genious, I immediately realised that whatever I was reading, it was serious stuff coming from an experience trader. This is why I did not claimed the refund. The book is not an easy read, and back then I did not had the time to go through it seriously.
Two weeks ago, I decided to read seriously the book and try to apply the Codex System in a test account, since I believe it is a very poweful system.
Book Contents
The book thus explain some basic things on Forex, but if you are a complete newbie, this book is NOT for you. For a complete newbie, I recommend Forex Nitty Gritty. There is also a basic system there which is profitable – See details here.
The main important contents of the book are basically the following
- Trend Lines
- Fibonacci Price Projection
- W.D. Gann Indicator
- … and last but not least Codex System
Trend Lines
This section of the book explains how to draw properly trend lines which are an important part for the Codex System. Get these wrong and your projections will be wrong.
Fibonacci Price Projection
This area of the book explains how to calculate Fibonacci Price Projections, and with this you have a clear indication where the price may go. Further to the standard Fibonacci Numbers there are also TWO Proprietary Numbers derived by Tom himself from his long trading experience, and I noticed that truly at this levels, there is always some kind of reactions. Tom clearly explains with charts how to calculate these values. You will find 2 or 3 complete step by step mathematical workings. There is no rocket science mathematics, is just the basic + – x and division. So don’t get afraid, but it may get heavy for some readers. Please don’t ask me what are these Tom Fib. Numbers since I can’t tell you.
W.D. Gann Indicator
This is a basic calculation of how to use this indicator, so as you have an indication where the price may go. This is an important point for Codex System.
Codex System
Ultimately you will find the Codex System explained, that make use of all the above. Once you understand all the above, the codex system is very simple – extremely simple. According to Tom, this exact system is used by major banks every single day. The nicest thing about the system is that you don’t need to stay glued to the monitor, just follow the rules outlined in the book, set your stoplosses, take profits according to the Fibonacci Price Projections and thats it. Of course you need to monitor the trade, at least when the trade reaches the + or – 33 PIPs, because there is an important step to do at that stage. Then let the trade ride.
Again there are 5 examples, and also videos of how to take these trades.
I will be testing the system for the whole next week ( already tested it for 3 days and it was profitable ) and you can see the results here. Then it is up to you to purchase it, but fromm the results I have seen, it is highly recommended.
Final Thoughts
As I said, the book is not an easy read. There are a lot of calculations in the book and charts illustrations, and it is important to understand this mathematics. But as I said, there is nothing complicated that you have not learned at school!
At the end I think this system, ultimately delivers long term results. We will see how it goes during our official trial next week.
