FX Rogue Review

Hi, Jeff here, from FX Rogue Review.org! And you are about to read my honest and unbiased FX Rogue review. Be warned, though, that I plan to discuss the product in great detail, covering both the good and the bad points. So if that is not for you, then you might want to leave now.

Keep in mind that this is just a review…

Click Here to Visit the Official FX Rogue Website

FX Rogue Review- How It Came to Be

The FX Rogue product was developed by experienced Forex “insider” (as he calls them), Bill Mitchell, who worked at an investment firm for more than ten years. He started like most of us average Forex traders – dabbling a bit in the markets but always struggling to make big profits on his trades. He would occasionally make decent money on his trades as a beginner, but he never made the big bucks until he got on the inside of the Forex market.

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Bill Mitchell

I had the opportunity to speak with Mr. Mitchell prior to writing this FX Rogue review, and he gave me some background on how he came to develop his system. You see, his first big break came when he was hired to be a junior investment analyst at a large Forex investment firm. He quickly rose up the ranks until he became a Fund Manager where he was introduced what he terms the “Forex Cartel.” Basically, this cartel is a group of top level Forex executives who operate on the inside of the market, watching the trades, and using data not available to average Forex analysts to pull in large profits. Well, one of the executives in the cartel took a liking to Mr. Mitchell, and trained him on the exact methods they used to make money behind the scenes.

Long story short, Mr. Mitchell made the cartel a fortune by learning and implementing trades as the executives instructed, while also earning himself upwards of $15 million (US). But, there was only one problem… Mr. Mitchell had a conscience. He had mastered the insiders’ methods on making large profits with Forex, but he felt guilty whenever he saw the average traders struggling to get by, as he once had been. His solution was to develope FX Rogue, a way to ease his conscience by helping others while also allowing him to continue to profit from the insiders’ trading methods.

FX Rogue Review – What Is it? & Does It Work?

OK, now that you know how FX Rogue came to be and why Bill Mitchell created it, let’s actually get into the nitty-gritty of what comes with your purchase. In order to write this FX Rogue review, I signed up several weeks ago and received my download instantly. It basically consists of a software download and a PDF eBook that tells you exactly how it works, and walks you through the installation process. I found the installation manual to be extremely clear, concise and easy to follow.

In order to set up the software, you first need to download a free piece of Forex trading software called MetaTrader 4 if you do not have it installed already. You can get this from your broker, or download it HERE and create an Alpari UK demo account. Although Mr. Mitchell uses Alpari UK for demonstration purposes, he strongly recommends you sign up with eToro for use with FX Rogue if you do not already have a broker.

Once you are signed up with a broker, have MetaTrader 4 installed, and have integrated the FX Rogue software into MetaTrader 4, you are pretty much set. As part of this FX Rogue review, I tested the software with MetaTrader 4 over several weeks, and the software works by following Mr. Mitchell’s trades EXACTLY. In other words, whenever Mr. Mitchell makes a Forex trade on his computer, the FX Rogue software will either immediately prompt you for permission to make the same trade, or it make the trade automatically (depending on how you have it set up). In this way, Mr. Mitchell can continue to implement the insider system without divulging its secrets to the world, but at the same time ease his conscience by letting the rest of us benefit from it.

So, I tested Mr. Mitchell’s skills in demo mode over several weeks and here are my results…

FX Rogue Review – My Results

I was a little bit nervous when I first set up FX Rogue because, although I have some Forex experience, I have never made huge profits. But, as Mr. Mitchell claimed, I really “did not have to know the difference between a pip and a pickle!” I had my doubts at first, but after several weeks of using FX Rogue, I had some surprising results. These are all demo accounts because I simply wanted to exercise some personal caution for my FX Rogue Review, but here are my initial results. See below:

fx rogueHere is a sample of one of the more successful trades in January. I was trading with 1.0 lot size so it would have come out to $61.00 (US) on that trade, but I think it is important to mention here that you can adjust that. Mr. Mitchell recommends that you start out at a 0.1 lot size because he bases risk management off of that figure. You are certainly welcome to set it at whatever you like, of course, but just be aware that there is both the potential for more risk as well as the potential for more profits. I usually stick with a lot size of 0.1 but figured “What the hey!” on this one and it turned out a winner. Here is another good trade that FX Rogue made for me via Mr. Mitchell:

fx forexThis was not as large as the previous gain I showed you, but it is still excellent considering the software basically runs on autopilot. Well, it is running on autopilot from our perspectives, but Mr. Mitchell is using his system to make trades and automatically telling our copies of MetaTrader 4 to make the same trades through the FX Rogue software.

Alas, it is not all good news, though, as Mr. Mitchell occasionally has some bad days as well. As part of my FX Rogue review, I wanted to show you one trade where I would have suffered a slight loss. See below:

forex tradesI think it is important to keep in mind that, while Mr. Mitchell is an experienced fx trader, he may still make mistakes. One comfort is that you are simply copying every trade he makes, so he will not be making decisions lightly. Since his money is on the line also, each trade is carefully calculated, and overall I would have made well more over the course of my FX Rogue review than the small loss I had in this instance.

The point I am trying to make is that you should always be cautious because not every trade is guaranteed to bring in huge profits. Just stay calm, follow the plan outlined by Mr. Mitchell in his eBook that comes with the software, and do not risk all your money and you should do quite well, I think.

Click Here to Visit the Official FX Rogue Website

So Let’s Breakdown the Good and Bad Points…

FX Rogue Review on The Bad Points:

  • FX Rogue is a piece of software, not a Forex course, so you will not necessarily become better at Forex trading personally.
  • FX Rogue requires your computer to be ON and the MetaTrader 4 software running in order to work properly. (You can get around this using a VPS service if you cannot leave your computer on all the time.) Worst case scenario, you might miss the occasional trade when your computer is off.
  • Setting up FX Rogue to work inside MetaTrader 4 can take a few minutes to complete.

FX Rogue Review on the Good Points:

  • FX Rogue allows you to manually or automatically copy all the trades made by Mr. Mitchell. It’s like having a Forex professional clicking for you.
  • Since you are copying Mr. Mitchell’s personal trades exactly, you can be sure he takes the time to make sure he is making the best trading decisions possible.
  • I have had no problems using the software on my computer. It worked flawlessly from the beginning.
  • You control how much you want to risk, and Mr. Mitchell also factors risk into his trades so that you have an extra cushion of protection. (Please be responsible, though, and never invest more than you are comfortable with, as a general rule.)
  • Mr. Mitchell and his assistants are eager to help, and have great support if you encounter any problems.
  • FX Rogue comes with a full, no questions asked Money Back Guarantee. Not only does Mr. Mitchell guarantee the product, but your purchase money is held by Keynetics Incorporated’s payment processing subsidiary for 60 days for your added protection.

My FX Rogue Review Conclusions…

As part of my FX Rogue review, I spent several weeks looking over Mr. Mitchell’s product and testing it with a demo account. Overall, I had very good results. Whether or not this will be the case for you, I cannot guarantee nor predict. My best advice is to take advantage of the 60 Day Money Back Guarantee and give it a whirl with a demo account. I had great results and think I will probably dive in and give it a try with real money, but that is ultimately a personal decision. So, if you want to copy a Forex expert, give it a try for 60 days with a demo account, and if you do not think it will work for you, simply request a refund.

I hope you found my FX Rogue review helpful, and please do not hesitate to contact me with any questions.

Click Here to Visit the Official FX Rogue Website


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How Does a Professional Forex Trader Operate?

It takes time, patience, experience, knowledge and a steely frame of mind to become a professional forex trader. Professional forex traders manage huge sums of money and every money manager must be careful at every step of the way. No beginner or amateur forex trader can ever consider himself as a professional even if he reads up and imbibes forex trading best practices. Knowledge alone is not sufficient; you need hands-on training from an professional forex trader to know what it takes.

What Sets Professional Forex Traders Apart?

  1. Forex traders do not waste time in predicting day-to-day movements of a currency pair. They look at the bigger picture and analyze the currency trends by interpreting the fundamental news and technical indicators – for example, understanding the Eurozone crisis and then reading the 200-day EMA (Exponential Moving Average), the 20-day EMA, the 4-hour EMA, and the current RSI (Relative Strength Index) of the EUR/USD pair can help professional web analysts and traders understand the long term trend of the pair and whether it is presently overbought or oversold. They can then place their orders based on their experience and judgment. Professional forex traders know that the hourly time-frame charts contain meaningless noise and therefore they first focus on understanding the long-term trend before dabbling in hourly trades. Beginners cannot expect to start off on such a strong note.
  2. Beginner and amateur forex traders get all emotional and hold on to their positions. A professional trader has no emotions while trading – he becomes a cold, calculating robot when it comes to playing the forex market. He sets very strict controls on himself – he books profits and stops losses exactly as per his strategy. His rule is to first devise a sound strategy per currency pair and then stick to it. He does not let emotions rule his trades.
  3. It is a myth that professional forex traders make money all the time. They don’t – they do bear losses as well. However, there are a couple of differences – one, professional traders will always allocate a part of their capital for forex trading and ensure that their trading capital adequately covers their margins and risks; two, professional traders are mostly right than wrong, and therefore their percentage of winning trades is always higher, and that is why most professional forex traders make money in the market.
  4. A professional trader will not jump from one trade into another. He follows a daily or hourly strategy. For example, if the Fed is meeting at 12 noon to take stock of the interest rates and the news says that the interest rates will hold steady but the technical indicators say that the USD is already in an overbought zone anticipating the news, then the trader may decide to short the USD against other strong currencies (just before the meeting starts). He will not follow the news, he will strategize based on the price action. He will stick to his strategy and book profits or stop losses based on his targets. Such traders enter into a few trades instead of jumping into multiple trades without using logic or without a plan. They also know it is more profitable to hold on to a winning position rather than getting in and out of several trades every day and end up paying brokerage or incurring losses.
  5. A professional forex analyst or trader is very precise. He follows pips with an eagle eye and sets his trailing profit and stop losses based on pips. A pip is the smallest price change that a currency pair can make. For example, if the EUR/USD is ruling at 1.294 and the forex trader is of the opinion that the EURO has been battered enough and will move up, then he may pick up a few lots of EUR/USD and set strict profit and loss targets of 1.298 and 1.290. If the EUR/USD moves to 1.298, he will book his profits or move his stop loss to 1.298 and if the pair falls to 1.290, he will book his losses and come out of the trade. So, in this example, the trader was happy with making or losing 4 pips either way. Most amateur traders are not bothered about such small movements – they just dream of making big money by following their emotions and street-savvy-ness. The thing to understand is that professional traders know exactly what they want. They are very determined before entering into a trade and do not allow market rumors or anything else interfere with their strategy.
  6. A professional forex analyst or trader plays around with a variety of trades. He knows how to interpret the technical indicators and reconcile their interpretations with the fundamental scenario. Traders know which way the currency pair is headed over the long term and based on all the knowledge and inputs that they possess, they develop a strategy and enter into hourly, daily, weekly, and monthly trades. They stick to the lot sizes they are comfortable with and do not overtrade.

The Proper Mindset for the Forex Tradeforex analyst

Trading the forex markets can be very lucrative so long you do it right. And, you can only do it right if you have the steely mindset of a professional trader or a forex analyst. Beginners and amateurs may make money over the short-term, but they tend to lose it all and some more over a long period. Professional forex traders make money – and that is why there are people who do nothing but trade the forex markets 24/5.

If you are a beginner, then do not even dream about entering the forex market – you will lose money and end up paying commissions. Instead, spend some time and hire a trained professional to coach you. Professional forex traders with years of experience can teach you how to interpret fundamentals, analyze technical indicators, how to develop a steely resolve, the importance of booking profits and stopping losses, understand how the forex market works from the inside, and more. Knowledge and a strong psychology will then help you succeed in your trades and operate like a professional. Good luck.

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Learning the Forex – A Beginner’s Guide

So what is Forex? Forex is actually a word that stands for the foreign exchange market, and other words to name the same thing are FX or just the currency market. The Forex market is a global, decentralized and financial market that is based on the concept of trading currencies. What happens is that economic centers across the whole planet operate like anchors of trading between a vast array of various kinds of purchasers and sellers, 24 hours a day. The only time that is the exception is on the weekend. The Forex actually is responsible for deciding the relative values of the various currencies around the world.

By way of currency conversions, the Forex helps out international investment as well as trade. One example that can illustrate this is the following. Let us say that a company in the U.S. wants to import some goods. Well, the Forex allows such a company in the U.S. to import said goods from another company in the U.K. while only paying pound sterling. This is in spite of the fact that the U.S. company’s income is actually in American dollars. In this way, the Forex is actually very flexible and therefore helps out international trade as well as investment. Another thing this foreign exchange market enables is the speculation of the various values of different currencies and also the carry trade, which is the direct speculation upon the variation of the interest rates between two currencies. The routine transaction in this foreign exchange market occurs this way. One party buys up a certain quantity of just 1 currency by paying a quantity of yet another currency.

How Forex Trading is Unique

The Forex, in the sense of the modern foreign exchange market, started to be established in the decade of the 70s after about 3 decades of government restrictions against transactions that involved foreign exchange. As such, the Forex is unique when compared to other markets in the following, key ways:

  • It is a market that features a tremendous trading volume that represents the biggest asset class on the planet that leads to great liquidity.
  • It is a market that features a great deal of dispersion from a geographical standpoint alone.
  • It is a market that is defined by ongoing operation because it trades every hour of every day except for the weekends.
  • It is a market that is influenced by the multitude of aspects that can have an impact on the level of exchange rates.
  • It is a market that is characterized by relatively low margins of relative profit when you compare it to other kinds of markets of fixed income
  • It is a market that utilizes leverage in order to raise profit and also loss margins with regard to the account size

forex tradesAll of these features have led some observers to call the Forex the market that is nearest to the ideal of perfect competition. Perfect competition is defined as a market in which no one, single participant is huge enough to possess the market power to single-handedly determine the price of a homogenous item. This is based on a definition in economic theory.

If you are wondering what specific location the Forex trades in, just stop wondering! The Forex actually has no central location because of its international nature. Any small trades are simply executed by the brokerages, and the various types of currencies that are traded on the foreign exchange market are exchanged by the banks. Though the trading of various kinds of currencies is a worldwide phenomenon, the plurality of trading on the Forex actually takes place in the city of London, with some 35 percent of trades occurring there. Behind London—though quite far behind London, actually—are New York and Tokyo, with New York accounting for only 17 percent of the trades on the Forex and Tokyo being accountable for only 6 percent.

The Most Popular Currencies for Forex Trades

While a lot of various kinds of currencies are traded on this global market, it is a fact that only a few currencies are the most popularly and widely traded currencies. In order of descending popularity, the most popular currency traded on this foreign exchange market is the U.S. dollar, the second-most popular currency traded on the market is the Euro, the third-most popular currency traded is the Japanese yen, the fourth-most popular currency that is traded on the Forex is the pound sterling of the U.K. and the final currency on this list is the Swiss franc. The U.S. dollar is known to influence the foreign exchange market the most by far, with 80 percent of all currency trades being known to involve the U.S. dollar.fx forex

If you are an average Joe who is flirting with the notion of beginning investing in the Forex, a good piece of advice is to first familiarize yourself with how this volatile market operates. There are a lot of risks for first-time traders on this foreign exchange market. Some people believe that the opportunity for losing money is even greater than the chance to make money. This can all be attributed to the fact that the foreign exchange market is a huge market that comes with a lot of liquidity as well as a lot of volume. In addition to those factors, the Forex is susceptible to world events that can rock it at any time. Examples of news items that can rock it are those related to geopolitics, the economic prognoses of various countries and even natural disasters.

As you can see, the Forex market is not your conventional market because it trades world currencies and not companies like, for instance, the New York Stock Exchange does. It is also unique in that it is open every single hour of every day during the week, again, unlike a major stock exchange such as the New York Stock Exchange. Because of these unique aspects of the Forex, it can be risky for new investors to jump into it, which is why they are advised to be conservative when first starting out on it.

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An Honest FX Rogue Review Coming Soon!

An Honest FX Rogue Review – Coming Soon

If you are looking for an honest review of the latest forex trading app to hit the market, FX Rogue, then you have come to the right place. I am still working on building out my FX Rogue Review site, but I plan to add useful articles and informative reviews to help you make the ultimate decision of whether or not the product is for you.

What I can tell you as of now prior to finishing my FX Rogue Review is that it was designed by an expert forex trader. Basically, he got fed up with working on wall street and making his employers richer, while all the time not being able to help the average Joe like you or me. He has already made almost $15 million in the Forex markets, so I am really excited to see what kind of returns his product delivers.

I have some experience in the Forex market, but I am by no means a professional trader on wall street. This will really be an interesting test to see if the product pans out. I am just about finished so I will let you know in a few more days how my testing went. I hope you find my results helpful.

My FX Rogue Review is basically my attempt to test the actual product and provide you with as much detailed information as possible so that you can make a good buying decision. So far the tests are going well and I should have some more updates soon.

Jeff – FX Rogue Review

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