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Here’s my story about my experience so far with the FX500 Club. I started part-time trading about 10 months ago and did all the usual things such as loading charts up with all sorts of indicators, bouncing from one strategy to another when losses crept in and losing my modest starting capital on two separate occasions. Due to work commitments and the loss of my starting capital, I decided that trading FOREX was not possible for me due to the apparent random nature in which the markets seemed to move. To say that I am a ‘changed man’ is an understatement!
I decided to revisit the FOREX arena only two weeks ago and it was whilst scouring some of the forums I came across the FX Pimp. After reading the excellent feedback on the thread I became aware of a new project by the Pimp whereby he posted a daily video onto YouTube called the ‘Play of the Day’. Last Monday armed with a new, but modest, influx of starting capital, I watched the Pimp’s video on YouTube and subsequently placed a trade. 9 hours later I was over 400 pips up and had doubled my started capital. Not surprisingly, I decided to investigate a little further about the Pimp which is when I found out about the FX500 club!!!
I registered by details online and was rather surprised to receive a phone call from the Pimp himself who took a genuine interesting in my status as a novice trader and invited me into the Live Trading room the following day. The Live Trading room consists of a web-based application where the presenters display their charts and talk you thorough their observations. There is a facility there all of the participants can send messages either to each other and the presenters, which is displayed to all participants. There is also a Private Message option where you can send messages to any of the presenters personally, which is great when you are new to the forum and want to find your way around without being in full ’view’ of the other participants.
Sessions with the four presenters are run twice a day and last for about 1.5 hours. Through the sessions and afterwards, the presenters provide announcements of their observations and opinions, so you have something to reference following the presentations.
One of the successes of the club for me is the way in which the participants come together as a community, share ideas and observations. The presenters always seem to answer the questions posed to them and you do get a feeling of receiving a very personal service from them.
I’ve learnt so much from my first few days as a club member. As an example, one thing I’ve learnt this week is not to become spooked when the markets go against you, which they did a couple of times because I placed a trade too early as I wasn’t using the correct strategy nor the templates that are provided by the FX500 club. On 3 occasions, I held on to a losing trade, when previously I would have panicked, with the confidence of better placed stop loss and the new found knowledge of why and when my fortunes were likely to change – which they did on all 3 occasions. To be clear, the club doesn’t provide a ‘signals’ service as such, more so a discussion of the market conditions and the likely movements that are possible. This is important to me as I need to understand why I’m doing something as opposed to being told to do something. I can then make my own decisions.
I’ve learnt so much and had so much success in my first week that, quite frankly, I’m overwhelmed and I’m hoping that it’s not just beginners luck. I review the online training videos once every couple of days just to keep me in check and will now look forward to Monday mornings so I can join the Pimp, James, Dan, Hemal and the group of fellow traders to review the markets.
Below are some stats from my first week of trading, which wouldn’t have been possible at all without the guidance, support and humour provided by the FX 500 Club:
Daily pip target: 40 pips
Mon: +413 pips
Tue: +20.3 pips (I was only trading for about a third of the day due to various reasons)
Wed: +147 pips
Thu: +69 pips
Fri: +93 pips
TOTAL: +745 pips

17 winning trades; 2 losing trades (90 pips). Both losing trades were done at the beginning of the week before I subscribed to the FX500 club.

Without doubt, so far the FX500 club has provided me with the knowledge, confidence and community spirit for me to consider trading as a full-time occupation. Having nearly quadrupled my starting balance in a single week, if this next week is half as successful, I’ll be a very happy trader.

Give the FX500 club a few hours of your time one morning or afternoon in the trading room and you won’t look back!

These are the guys who used to work for marketbytes.com.
I thought they were excellent then so I have followed them to their new website. Top notch strategy being thought. It's not a signal service per se, but the room is live and you can make your own decisions whether to take trades or not as per their strategy they teach. They are live from 7:15am UK time and 2pm NY time.

FX500 club – what is it?

Dan, Zak, James & Hemal show you in real time twice a day what setups they see in their respective areas (FX, FX, commodities & indices). You can ask them questions and for points of clarification real time and they will answer them ‘live’. (If you are uncomfortable sharing your queries with the rest of the group, you can also ‘chat’ in private with any one of them). They also post announcements in the background (so as not to interrupt one another’s presentations) of their potential entry, target, emergency stop levels which you can copy & paste for your own use as the trading day progresses. They also prepare videos, which you can pause to ensure you have your own charts marked up in an identical way to them, as well as double check anything you may not have understood fully in the live room.

When a setup looks ready during the live room session, all can trade it together & share in the success

What is good about it?
Firstly highly successful individuals willing to share & teach anyone who is interested exactly how, what, why & when they do what they do to assess a trading opportunity.
Secondly a community of like minded individuals all with the same objectives working together to help one an other.
Thirdly live interactive ‘calls’ keep everything real, particularly the emotional side of trading.

All the time they are improving the service, as their community of seasoned traders, ‘wannabe traders’ & everyone in-between give them feed back. One long 'London open' session has been split into two shorter ones (London & New York). The short term trading on the 5 minute time frame has developed to analysis of 4hr & 1hr timeframes, with explanations of critical levels to watch out for, only when these are hit or breached do we drop down to the lower t/fs for a refined entry (as eloquently described by Rockdrive on this page)

What could you do now?
If you are serious about making excellent investments in the world of foreign exchange, indices and commodities trading, I can't recommend strongly enough that you take a look at what these four generous gentlemen are doing, as a 'guest'.

It will not be for everyone, but what have you got to lose by giving it a try and what could you potentially gain?

Paul

Met Dan at our Cafe in Spain, i was just being nosey as usual and asked what he was into. having dabbled a little in currencies the spanish way (suitcase full of yen!), was pleased to meet someone who knew more about currencies on this part of the coast. being nosey again, i went to the website (Forex Trading, Live Forex Education, Currency Trading, FX Opportunity) and did a little digging on the boys behind it, numorous sites and forums recomended The FX Pimp so decided to take the plunge and give the free day trial a whirl. My impressions of this were better than expected and have since subscribed and only missed a session when telefonicant wont work... Trading without being in the fxclub is more like loading your funds into an online poker room and taking a chance... Anyone serious about making pips as either a hobby, full time job or simply subsidise your current income, would be wise to invest in a subscription to the FX500Club.

Many thanks Dan, James, zak and Hemal. You guys make trading look easy, and we are gonna have a GREAT 2009 if the last couple of weeks are anything to go by!

Now, I have to agree with Fran from Shropshire below. Dan, Zak, James (Monkey) all left the company. They have set up themselves at Forex Trading, Live Forex Education, Currency Trading, FX Opportunity. Update to my previous post. trying to leave, bounce backs from email requests to cancel subscription. No response to emails that get through. Whilst it was good, it was very good. As previous reviewers I stand by my original review at the time, but right now my recommendation to people thinking of joining would be 'dont touch it with a ten foot pole'. May need to change my bank account if I cant stop them charging me for a non existent service. Graham

The fx500club are simply the best. Dan, Zak, James and Hemal, are not just great traders, they have a strategy, that consistently works, and they know how to teach it.

This is only my 2nd day in the club, and I have already made the joining fee and one months subscription back in 3 trades. I cannot recommend them highly enough!

Okay hello to everyone. i tryied fx 500 club and i can get the same stuff from forex social which has been around a lot longer for free. i have been using the new forex Android system this week and last week it had 99% accuracy. and i did not have to pay for it. just something to keep in mind if your new to forex and looking for an edge.

you can get more information just google: forex android

Good afternoon

A quick explanation of what we do at the FX500club

We have a great team moving forward and for those who have worked with the strategy and powered through hurdles like greed and fear are now reaping the rewards. Well done to you all...

Trading is not an easy business (and many home traders do lose) however what we try and do at the FX500Club is simplify the currency world so that anyone can trade it and make a few pips on a daily basis. I will try and explain all ideas and trades in a logical way, so that everyone can understand what we do.

What we do....?

We now offer 2 live sessions a day at a cost of 97 GBP per month. I (Dan) post notes at 6.45am GMT and start presenting at 7.00am for around 90 minutes. (Zak will present at 1.30pm GMT) We analyse the currency market and do the technical analysis for you in GBPUSD, GBPJPY, EURJPY, USDJPY, EURUSD, AUDUSD, USDCAD, GBPCHF, USDCHF and EURGBP as well as GOLD AND OIL. From these markets we zone in on 2 to 3 charts (with the lowest risk) that have the most potential.

We keep it as simple as possible but do understand that it takes a few weeks to understand our way of thinking.

We are only interested in low risk, high probability trades and will tell you if we feel there is no trade that suits our requirements. However i do want to state that we are NOT a tipping service. We educate you so you fully understand WHY you should take certain trades and not others.

So for example if USDJPY powers up and GBPJPY follows we watch GBPUSD for signs of support. If there is an entry point with a tight stop loss of say 40 to 50 pips, we will zone in on that chart and guide you through the opportunity so you understand why the market is moving and what the risk would be. The hardest part is pulling the trigger... We can’t do that for you but after a month or two your confidence will grow and the setups will become easier for you to read.

Overall this will make you a better trader and self sufficient as a trader rather then me telling u to jump in here or there with no explanation.

What to expect...?

Don’t expect to get rich overnight with this strategy, as you wont succeed as a trader. Look at this as a 3 month plan rather than a 1 month plan. Once you can prove to yourself that you can make around 200 to 250 pips a week then you are ready to live trade. This will take between 1 and 3 months, so do not expect to understand what we do in the first week. The best approach would be to take your time and really grasp what we do before live trading...We are teaching you twice a day, so after a month you will be rusty, after 2 months things will fit into place and come 3 months you will start to feel more confident and start to read the setups well.

We are very honest in our approach and we can only be judged by our clients. It is your live room and above all we work to help you. The room is very positive and above all an enjoyable experience in learning how to trade.



What about beginners...?

Do not worry if you have never seen a chart before...

Zak, James and I have recorded over 40 videos on how to trade. Topics cover MA´s, CCIs, Money Management, Pivot Points, Golden Crosses, Triggers, Stop Losses, Take Profits, How to enter a trade, How to exit a trade, What to expect in the 1st 3 months, Introduction to Currencies, Intro to Indices, Intro to Commodities etc etc.... The list goes on and if you are unsure of any subject you can email us and we will produce a video for you and other FXVideo Club members to watch.

You can watch video after video (again and again). It’s a perfect way to learn our strategy and gain that confidence you need.


Conclusion

The Club won’t be for everyone but if you work hard, listen to what we say and practice before live trading, the weekly pip count will take care of itself.

Everyone should aim for 250 pips plus a week and we will do our very best to assist you.

We have a ‘One Day Free Trial’ so please come and say hi to the team if you get a chance.

Many thanks

Dan & the FX500Club Team

These people live off your subs in the Costa Del Sol where you don't need to be FSA regulated.

They don't actually trade these markets themselves they do a kind of Horse race commentary on the action
in the mornings.

"Its all set up for a move down, but we might get a retrace" is normally what your hear

or

"we can't enter now, lets wait for the pull backs" The ol 123 play LOL..

They are very crafty on giving exact entries and Dan Armitage is a very good speaker so he has all eventualities covered with his commentary spill.

Most of the people in the chat room know nothing about trading only what they have learnt of forex forums etc so they find all this fx500 info quite mesmerising. Sure you will lose at a lot slower rate following the fx500club, but if it was such a winner why the hell are these guys not trading and just living of (97£ x as many lemmings as can be sucked in each month).

Hemal left the club as he is not a con merchant.

Zak is a drunk spends he subs money in the bars down the beach on the Costa Del Sol

James hes now a FOREX expert calling pairs in the morning when he was exclusively a indice trader and knew nothing about forex pairs till 6 months ago.

Dan is the chief con man pulling the strings of the operation.

Be very careful folks committing your hard earned cash into these Forex markets. Dan and ZAk and Co don't LOL....It really is a hostile place and the REAL PROS don't bother out there with silly little trading rooms etc..