I recently purchased the London Close Trading strategy from Shirley Hudson
and the Forexmentor team. Below is a video review. In this thread, I'll also be keeping a journal of trades.
First, though, we are giving away one copy of the course FOR FREE!
This Saturday, June 15, 2013, we'll select at random one person who has circled us on Google+ and given us a +1. To get your chance to win this course for free, head on over to our Google+ page
Here is a brief review of my take on the course thus far:
1. Shirley has posted her track record
using the system, boasting 90%+ returns. After taking a look at the method and her approach, I think the results are honest.
2. The course does require a basic understanding of support/resistance, some basic indicators, and how to place a trade. If you review David's introductory course
, our introductory forex course
, and our page on support and resistance
, I think you will have the necessary foundation to trade this strategy.
3. The course requires being able to watch the markets from around 9 AM EST to 1 PM EST (3 PM GMT to 7 PM GMT). That's a broad window of time and one could probably trade the strategy using a more narrow window, though it helps to have this timeframe open.
4. The strategy involves trading the 5 or 15 minute timeframe. I'll be focusing on the 15 minute timeframe for my trade log here.
5. My favorite part of this strategy is that it can be executed with proper money management with a very small account. I think $500 is sufficient; I'll be trading it with an account balance of just over $800 USD.
6. Purchasers of the course also get one month access to Shirley's trading room, in which she shares the trade she places using this strategy, and provides email support to members.
If you have any questions or would like to share your experience with this strategy, join us in the comments below.
ADDED September 7, 2013: Here is an interview with Vipin Sharma
, a full-time day trader who uses the London Close strategy, with his thoughts on the system.
ADDED November 23, 2013:
Here is a video showing how a volatility increases at 11 AM EST
each day. This is the time of day the London session closes, and relates to a market idiosyncrasy this strategy is designed to exploit.