Forex Assassin Review

When Forex Assassin was first launched in March of last year, it received a great deal of press around it capabilities. Since then, the talk about Forex Assassin has simmered down to hype up other programs, yet the Forex Assassin Formula has still performed incredibly well as a forex margin system.

What I like about Forex Assassin is that it is a purely price-driven trading system that does not consider other variables in trading forex currencies. This is great for the newcomer, as it is very easy to get confused with all the other analysis that can be performed before entering a trade.

When looking to make a trade, the trader only needs to look at a few conditions, and when they are met, it will trigger a set of pre-defined actions without thinking, without emotion, and without hesitation.

Furthermore, while the sales letter claims the program can be used for hardcore traders (and I’m sure it can), the system is really designed for those looking to dabble part-time in the forex currencies. The greatest advantage is that the system can be setup on a Sunday night, and then be let to run during the forex market hours, trading forex real-time without the intervention of the user.

Included in the package is a 50 page forex blueprint, spreadsheets that help track and analyze your trades, sample trading plans, and the forex assassin formula to help you accurately predict where you will enter and exit the market.

With any new system you are testing, you should first run it through a series of paper trades, trading without real money, but using the forex real-time market data to see how well a particular system performs. Included in the Forex Assassin guide are all the tools you need to actively setup a demo account and begin testing the system.

Through my tests, Forex Assassin has been a consistently profitable system.  The biggest challenge will be accurately setting your stop-loss for the week. Those that have had unfavorable results with the system have usually set their stop-loss thresholds too conservatively, either out of fear or lack of faith in the system. The Forex Assassin Manual has some great guidelines on setting your stop loss, and I recommend gradually and systematically tweaking them for optimal results, using your market data as a guide, rather than emotion and paranoia.

Make no mistake; Forex Assassin is a very basic trading strategy, and those looking to literally “assassinate” the market with billion-dollar trades, should probably look elsewhere.

However, if you are looking to create some easy income in your spare time, with minimal effort (about 10-20 minutes a week setting up your trades), then Forex Assassin is a great program to start using.

About Nigel Quil

Nigel Quil is the lead editor of PipPowertools. A professional Forex Trader for the past 3 years, Nigel has learned how to trade Forex the right way, through trial and error. In addition to writing and reviewing for PipPowerTools, Nigel has recently published his book, Executive Forex Strategies, and has a few more titles planned for future release. He currently lives with his wife and children in Lafayette, LA.