This week I will be reviewing ForexChex.com, a website that brings four forex products to educate and help you become a better trader. ForexChex.com was launched on July of 2010 by two individuals with an aim to help the forex traders with a one stop solution. The four forex products that are introduced to you when you visit the homepage are ATS, Smart Lesson, Mentor Program, and Pro Trading System.
ATS (Automated Trading System) – The ATS option brings you the ForexChex automated trading software that will trade for you on auto mode. This option is recommended for new traders or traders that don’t have time to trade. ForexChex claim to have coded, tested, and tuned their automated trading software for the past two years to bring you best results.
Smart Lesson (Simply Mad After Recurring Tragedies) – The Smart Lesson option provides you the educational tools to make you a better trade. The lessons are provided at your learning pace, so you would never have to rush through the lessons or be afraid of falling behind.
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Mentor Program – The Mentor Program is a professional lead web based training course that provides you with the opportunity of being able to interact with the trainer and join workshops. The program is divided into three main categories and they are Basic Foundation, Intermediate, and Advance.
Pro Trading System – Is an automated trading software targeting the professional and full-time traders. ForexChex claims to have worked on the Pro Trading System for seven years to bring you a fine tuned system.
My overall opinion of the concept is that its a unique idea to combine the most searched for forex “go-to-products”, when you are a novice trader or a trader looking to advance your knowledge. When it comes to the automated trading programs, I personally was never a fan of the automated trading concept and always believed that individual should build a forex trading strategy based on their experience, personality, and time availability. Currency trading is a fast paced and extremely volatile market that moves based on the “now” and current trader behavior; and not mathematical or historical numbers. A resistance/support line within the last 1 to 2 months has more impact on the currency price action than a 1 to 2 year old resistance/support line. I am all for forex training and mentoring, but when it comes to forex automated software … its not my cup of tea.