Before we start it is worth mentioning, we used this system for 6 weeks and recorded all our results - That's what makes SystemsForTraders reviews distinct. We do not re-iterate marketing bumf from a sellers website nor do we cut and paste affiliation sales copy. Our reviews are conducted by experienced traders that have really traded the strategy, over a 6 week period in this case.
This system headlines with "Learn how to make 300 to 500 Pips a week with 87% accuracy" - 4 X Pip Snager is a "new Forex system that will change how you trade forever".
Three sample videos on the website illustrate a few trades and there are also over a dozen screen shots, all falling into the 87% accurate winning trades. There's then a dozen or so unsolicited testimonials.
This is in fact 3 systems:
- 4x Pip Snager Scalper system
- 4x Pip Snager Day Trader system
- 4x Pip Snager Swing Trader system
Being a Clickbank product there is a 100% money back guarantee.
The systems
The instruction booklet, 69 pages of it, makes it obvious that EURUSD is the best currency to trade for the Scalper and Day Trader systems. The Swing Trader system was "Written on the spur of the moment" and is not too different to the other two so we decided not to trade it.
Best time-frame is 08:00 - 10:30 UK time for Scalper (1 minute chart) and Day Trader (5 minute chart) so that's what we traded.
Entry is roughly 60-85% mechanical, Stops and Targets are more discretionary. Stops for Scalper are not defined nor are Targets, Exit is discretionary based on a number of observations. Stops and targets for Day Trader are alike but there is an option of placing a Stop beyond the prior swing high/low and a 1:2 Risk:Reward Target.
SUMMARY
Both Trading systems are very discretionary, too discretionary for our liking.
Trading, mostly in real-time (some retrospectively) throughout August and September over a 6 week period our results were as follows:
Scalping System- 24 trades, 12 winners and 12 losers- A net profit/loss of 0%
Day Trader System- 13 trades, 3 winners and 10 losers- A net profit/loss of -8%
Therefore, it's fair to say, neither system returned anywhere close to 300 - 500 pips a week mark and neither was nearing the 87% strike rate specified on the website.
Do remember, your comments are important, if you have any feedback in relation to this system we would love to hear it.
