System Review - 10 Minute Forex Wealth Builder - Get Started !

Today, I am going to examine the 10 Minute Forex Wealth Builder (10MFWB) system by Dean Saunders, which is currently ranked 4th in the popular list.

Top 5 Forex Systems (By popularity)

1. Forex Autopilot: "Auto-pilot expert advisor system that turbo-charged profits" (Read all reviews)
2. Forex Killer: "The work from home day-trading solution" (Read all reviews)
3. Forex Tracer: "Expert advisor that signals and mines profits in the forex markets" (Read all reviews)
4. 10 Minute Forex Wealth Builder: "Dean Saunders's revolutionary forex trading methods"
5. Ace Forex System: "100% mechanical, set-and-forget, powerful system"

(Source: Clickbank)

Inside the Member Area, customers are being taught to operate two separate trading systems. I've gone through all the materials and there's no trap of information overload. You'll find easy-to-understand system manuals, straight-to-the point video instructions and some real live trade examples.

You'll learn how to to spend 10-15 minutes of your time everyday to spot the right trading setups and setting up orders. You'll be looking at the daily charts and using the simple instructions to identify breakout and swing patterns.

The 10MFWB System consists of:

End-of-day Breakout Method - which targets 100 -200 pips per trade in 8 different markets, uses a fixed reward-risk return of 2-to-1 and trades typically last 2 -4 days

Longer-term Swing Method - which targets 200 - 400 pips per trade, with a flexible reward-risk return of 2-to-1 or better and trades typically last 3 -7 days

Once you have learned how to place orders and the required stops & take profit levels, all that is left to do is go about your everyday life and check back tomorrow evening to see how the trade has developed. This trading style suits anyone who can not stay in front of the computer.

I can see that both the systems have their own technical advantages. Their methods of taking profits are realistic for that using the daily chart setup. Not only the levels can be hit the most often, but also ensure that you're already making money as long as you can achieve more than 33% winning trades.

If your psyche is to become a successful Swing Trader or End-of-Day Trader, looking to open 2-5 quality trades per week, you'll stand a good chance of doing well by simply picking the brain of Dean Saunders at this learning stage and then systematically improving your game plan as the trading progresses.

p.s I'll be doing my next review posts on forward-test results and trade analysis.

p.s.2 There is a popular forum thread which happens to discuss similar breakout technique used in 10mfwb but running on different trade entering strategies. It could be confusing at first due to the overloaded info, but definitely, worth visiting.

p.s.3 View track record of 10-Min Forex Wealth Builder

Markets Awake and Dollar Slumps Friday

European Session
No. of signal recommendations: 1
End-of-session results: AUD/USD (-20 pips)

100-pip System
Dynamic entries: No entry

The markets finally woke up after a long sleep. Today, we saw the US dollar index sank to the lowest level since 23 April. Unfortunately this time round, the "system" failed to spot those extraordinary trading opportunities. In fact, we were having the wrong technical bias the whole morning. Luckily, we didn't hold any position to buck the strong price trend. Nonetheless, an exciting day in the forex market.

Day Trading Service: Trading Report Jun' 08 (+35 pips)

Fact 1: Major-Pairs Results +35 pips; Yen-crosses Results +310 pips; 100-pip Results +825 pips
June was the month where the yen-crosses pairs rallied across the board. Simply look at these quotes:

June 1 open/ June 30 close/monthly change in term of pips:
EUR/JPY(163.78/ 167.11/ +333) ;
GBP/JPY (208.06/ 211.45/+339) ;
AUD/JPY (100.50/ 101.63/+113);
CHF/JPY (101.02/ 103.89/+287);
USD/JPY (105.24/ 106.07/+83)

We were able to take advantage of the market movements and made most of our gains from the yen-crosses pairs using both the End-of-Session and 100-Pip Systems.


Fact 2: Up Five Consecutive Months Since Inception For the End-of-Session System (Major Pairs)

Despite trading only 9 out of the possible 21 days (i.e. with Major pair signals), June was still a profitable month which produced +35 pips overall. Profits were made from USD/CHF (+135 pips) and EUR/USD (+60 pips). However, GBP/USD was the under performer this month due to its unexpected intraday price volatility.

Fact 3: Individual Performance Overview

June has confirmed that EUR/USD is still the biggest gainer of all since the start, while the AUD/USD and GBP/USD are the only two with negative pips.

Results summary:
EUR/USD +425 pips
USD/CHF +250 pips
USD/CAD+250 pips
USD/JPY +110 pips
AUD/USD -10 pips
GBP/USD -50 pips

Looking at the current and past stats of our day trading system, the results begin to add up and look ever more promising. And also with the latest addition of 100-pip System, I believe we are well-positioned to capitalise and make gains from both the US dollar and Japanese Yen markets in the many months ahead of us.

Last but not least, you can simply join my live forex trading sessions today and learn how to build confidence, generate a sense of control and make consistent monthly gains with Scout-Forex DTS.

Profits vs. Drawdowns for Bogie, FAPS and Tracer EAs

In general, June was a very good month for trading. There were a a lot of sizable moves intraday and overnight reactions which stirred up the forex markets. Euro (EUR/USD) was the most interesting pair to watch since it recorded its historical high back in late April. Since then, it has entered into a consolidation phase.

I have three expert advisors which all auto-trade the same EUR/USD market, i.e. Bogie, Forex Autopilot (FAPS) and Forex Tracer, but on different time periods. I will show you how they all fair in the month of June. For comparison, all three were assigned with with same account level at the start of the month. Initial deposit: $1000; Fixed lot size: 0.1 lot. Here are their end results:

1st place: Bogie-NN-v8 end balance $2434 (143.4%) Approx. +1434 pips
2nd place: FAPS end-balance $1169 (+16.9%) Approx. +169 pips
3rd place: Tracer end balance $903 (-9.7%) Approx. -97 pips

EA Performance (Jun' 08)	Bogie	Tracer	FAPS
Time period	H1	M30	M1
Stop loss used	200	250	---
Absolute drawdown (% from initial deposit)	-3.6	-24.9	-28.7
Maximal drawdown (in term of pips)	<100>	250	>500
Final profits (in term of pips)	+1434	-91	+169

Final remarks:

1) Bogie-NN-v8 had a very strong month in June as it outperformed others during this market phase. At many occasions, it did superbly by selling at the tops and buying at the lows.

2) Compared to previous month results, FAPS was slightly underperformed this month, but its overall results since the start of the year were impressive. June was the fifth profitable month of this year.

3) Tracer was recently launched. Unlike FAPS, it uses a fixed stop loss level of 250 pips, thus giving you the comfort of knowing its risk limit. Unfortunately, June was a volatile month which in turn resulted the EA to hit the bump twice. Despite all that, Tracer EA showed great resilience and nearly made it back to the positive.

I am not sure what July will bring, but i have high hopes on three of them. If the current trend continues, Bogie is the one to look out for. If the Euro continues to gain momentum towards the upside, FAPS and Tracer should be back to exhibiting their real strengths.

Chart Analysis for 100-pip Trade Setup

This type of trading opportunity occurs every day. If you are interested, you'll need to be willing to follow my day trading instructions.

Live setup: 23 June on GBP/JPY

Related post:
Tallying Up the 100-pip System Winners

Tallying Up the 100-pip System Winners

Scout-Forex Day Trading Service runs two separate systems.

The first system is the End-of-Session System which produces clear cut trade entry and exit. The system is fully 'automated' and it exploits the forex trends during the most active trading hours.

The second system is the new 100-pip System which is aimed a maximising the profits by sharpening up the trade entry and exit. It utilises an improved method for entering into the markets and at the same time lowering the trading risk with dynamic stops.

I publish my day trading report for the End-of-Session system every month. I also review my trades everyday on my Day Trading Blog. Right now, I am setting up a trading results page for my 100-pip signals. The results page will be updated here every week. All signals are issued live to my Service Subscriber and their performance are tracked in real time on the member site.

All I need to do now is just tallying up the total number of trades and their potential winning pips for each week. The following table will weight up the final results for the 100-pip exit strategy as well as at different lower mid-point exits.

Jun 08	No. Trades	TP=40	TP=60	TP=80	TP=100	100-pip Hits
06/02 - 06/06	10	+228	+268	+388	+508	6
06/09 - 06/13	5	+200	+120	+160	+100	1
06/16 - 06/20	12	+68	+28	-52	-12	2
06/23 - 06/30	8	+29	+129	+149	+229	4
Total	35	+525	+545	+645	+825	13

* TP = take profit level

Related post:
How to Make 100 pips in One Single Forex Trade

2 Week Complimentary Trial : Market Club

Hi all,

I've been told that on Monday June 16th at 12:01am EST, Market Club will be activating 2-Week Guest Memberships to the public. No payment info is required for this trial.

• Market Club (INO.COM)

If you enlist at the start, you will have the maximum time to use and learn about the Market Club. There are also special bonuses at the end of the trial which are yours to keep regardless of whether or not you decide to become a full member later.

Here is the url is where they will be signing up participants:

Market Club Trial: 2 Week Members Only Access -Trial ended

You will be given the same access which the paid members have. For example, charting tools, scanning capabilities, trade school and etc. Nothing will be different or unavailable.

Market Club: See What You Get

If you've been on the fence about Market Club, this is the best way to see if the Trade the Triangle is the best tool for you.

Forex Tracer Automated Trading and Signalling EA

The search for profitable automated trading systems is on once again. I just received this e-mail from one of my readers yesterday.

Hello Lloyd,

Your blog site has helped me in a great deal to understand how Forex market works and forex software.

I'm a three-month forex beginner who has studied the market by myself and has practiced on a demo account. I have lately started to think to purchase forex software and give it a shot. After I did my research, my candidate for the software narrowed down to either Forex Autopilot or Forex Killer. However, late last week, I happened to discover a new software called Forex Tracer.

The reason I'm mentioning this new software is that they show the same format as your Stratefy Tester Report of Forex Autopilot. I've never seen such a report from other software sales letters. Forex Tracer's report started from June 30, 2006 thru May 23, 2008. Their winning ratio is 94% and the modeling quality is 90%. The software looks very attractive to me

If possible, would you take a look at Tracer's page and let me know about your opinion about the software? I'm thinking if it's worth a try or better to buy Forex Autopilot.

Forex Tracer is, of course, another Expert Advisor script written for the purpose of automated trading in the Metatrader platform. Since I am a keen user of expert advisor systems and a developer of my own EA system, I would also like to test this EA myself. I believe I did a good job on reviewing and tracking the progress of the Forex Autopilot so far.

Could this new Forex Tracer be the third profitable EA systems after Bogie and Autopilot? We will soon find out.

p.s. Thanks Kotaro for the above email. You just set me up a new expert advisor trading task. I do hope it is profitable as claimed. You and my readers will probably get the first-hand update regarding the forward test results of this new Tracer EA.

p.s.2 I wish to keep everyone updated. I received another reader's email with a comment from someone who is currently trialling the Tracer EA: "Overall the majority of trades were positive this week, but there was one trade that almost wiped out my demo account. I will test more and let you know if it turns out positive. It may be excellent however it certainly needs to be used with caution." Thanks for the heads-up and I'll certainly keep an eye on the system drawdown.

p.s.3 Profits vs. Drawdowns for Bogie, FAPS and Tracer EAs

Making Gains With Yen-Crosses Pairs

Following Friday's gains, this week trading again started with a bang.

My day trading system has already provided me several good trade entries on the yen-crosses pairs. Two out of four signals had made 100-pip profits. The other two open positions are also inching towards the 100-pip target.


I used to focus all my attention on the major currency pairs. Since going on board with the fine-tuning approach, I am happy to have those volatile yen-crosses pairs on my tradable list.

Day Trading Service: Trading Report May' 08 (+75 pips)

Fact 1: A Sideways Month for the Majors
May was a month where the US Dollar actually went nowhere against other major currencies. Simply check out their quotes below:

May 1 open/ May 31 close/monthly change in term of pips:
GBP/USD (1.9876/ 1.9822/ -54) ;
EUR/USD (1.5620/ 1.5554/-66) ;
USD/CHF (1.0350/ 1.0420/+70);
USD/CAD (1.0065/ 0.9933/+132);
USD/JPY (103.93/ 105.50/-157)


Fact 2: Up Four Consecutive Months Since Inception

Despite trading only 12 out of the possible 22 days and the sideways price action, May was still a profitable month which pulled in another +75 pips. It was interesting to note that we made most of our profits from USD/CAD (+140 pips) and USD/JPY (+35 pips) since they were the significant movers than the rest.


Fact 3: Individual Performance Overview

A brief recap of their individual performance so far:
EUR/USD +365 pips
USD/CAD+245 pips
GBP/USD +160 pips
USD/CHF +115 pips
USD/JPY +90 pips
AUD/USD -35 pips

EUR/USD was the biggest gainer of all since the start, while the AUD/USD was the only one with negative pips.

In summary, May could be a sideways month paving for an expected up (or even down) month for the US dollar in June (i.e. the start of Summer trading). I believe our day trading strategy is well-tuned to capitalise on any significant market movements ahead of us.

Become a member today and learn how to make consistent monthly gains with Scout-Forex DTS.