Featured > Manual Systems
Sure Forex Breakout System
18
Jan
This is a no-nonsense, no-hype manual system, “what you see is what you get” style, and at a sensible price ($49). Interestingly, the site states that it can be traded with only 15 pips stoploss (and 75 pips take profit!).
The system itself is very straightforward and the vendor pulls no punches in his instructions, all the information needed to trade with is provided in a clear, concise way with no “fluff” or unnecessary filler at all. I would think that most traders could be up and running with this system within 15 minutes, and for very new traders i wouldn’t expect it to take you any longer than 30 minutes to understand the system. In my opinion this is a good thing in a world where it is all too easy for vendors to “dress up” what is a simple system to make it look fancy and worth asking $599 or more for.
Sure Forex Breakout can be traded with any broker you like and is not reliant on MT4 indicators, etc. as it is based solely on price action. The instructions teach you how to draw the setups on your chart manually, in a way that even the newest traders should understand and be able to implement. For those who are trading on MT4,  there is an optional indicator which can make the trading process quicker and easier by drawing the lines for you on the chart and generally making it look simpler – and indeed even printing the  basic instructions on the chart for you.
Sure Forex Breakout System trades only once per day (most days, there is a filter which stops trading on some days) and only takes a few minutes a day to check if there is a signal if using the MT4 indicator (maybe around 10 minutes max if not using the indicator). The main problem with it that i see is that it trades the breakout of the morning European trading session, a trading time which is not suitable for most people based in the USA/Canada or similar timezones and that is definitely worth bearing in mind before buying.
At only 15 pips, this system has the lowest stoploss i have seen anywhere online on any manual system that is not a scalper. Part of me thinks that this is a little bit ambitious and that we would be better off adding just 5 pips more or so on to the stoploss to allow a little more breathing space in a trade, or to account for normal fluctuations in spreads with some brokers. It is definitely something that would need to be watched carefully if trading this live to check if your broker is spiking out the spreads to take out your stoploss. It shouldn’t be a problem as contrary to popular belief i don’t honestly think most legitimate brokers are working directly against us- Â but it is something to bear in mind and be aware of if you find that all your trades start closing when they really shouldn’t have. If this does happen to you there are ways around it of course, such as adding an extra 5 pips to the stoploss to bump it up to 20 pips, or keeping the stoploss as a “mental stoploss” rather than a physical one placed with the broker and then just closing the trade when you see it hit -15 pips, which will help you avoid any potential spread spikes.
I wouldn’t suggest buying this system if you like to trade frequently and at lots of different times throughout the day or like lots of ‘action’. The system itself is very structured with exact entry and exit criteria which occurs at a set time (european morning trading session). You need to be prepared to just sit out of the market at times, and on other times to be exiting trades at break even and i believe it takes a certain amount of patience to be able to trade this system with the required discipline. The system in my opinion is very much more suited to newer traders than it is to more experienced traders – many of whom may already be trading a breakout system of some kind which is perhaps much more involved/complex than the one offered here.
The vendor publishes his results on the website detailing how much he has made each month. Further down the main page there is a table which shows you what compounding at 5% risk over a year would have produced- i would urge you to take this table with “a pinch of salt” as the saying goes because it is of course purely hypothetical and anyone who has tried to compound their accounts in this manner will soon realise the problems/limitations in doing so. For a system such as this i would go so far as to say a mere 1% risk would be much more preferable and protect you against any consecutive losses which are likely to occur at some point due to the low stoploss.
On a final note, regarding support for Sure Forex, we have found the vendor to be helpful, friendly and very approachable with questions or concerns and feel that they really care about their product. Â Being a less polished, less hyped site has its advantages when you get to deal directly with the vendor (or colleague) and get the answers you need to your questions rather than trying to negotiate with underpaid, under-resourced support teams which we see sometimes.
Note that no refunds are offered with the purchase of this system so you need to check carefully if this system is going to be suitable for you before buying. At less than $50 however i cannot see this being an issue to too many people and the system itself is based on solid trading methodology.
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23 Comments
Sounds pretty good Donna.
I would suggest that anyone not placing a hard stop at or shortly after entry is exposing themselves to the unknown. Why not place a wide hard stop to take care of something extraordinary and then work the logical stop and remember to cancel the hard stop after exit.
Just thoughts for any novices or anyone who can ill afford to be caught bad. I am thinking there will likely be a currency devaluation rat race by our various countries at some point so volatility could get extraordinary.
Very right, David. Perhaps a hard stop at say 40 or 50 pips in the case of extraordinary movements would be handy, then mentally keeping it in mind to close at -15 pips… and most importantly sticking to that. Mental stops are always a bit of a problem as they really test your trading discipline, in this case i think they’d be a wise option perhaps though. All depends on the broker i guess – i’m always over-cautious and it is quite likely everything would be fine at 15 anyway.
Of course, in the very worst case scenario if something seriously disasterous happens (a meteorite blows out the whole american continent for instance!!!) and the dollar goes into complete freefall you may find there is no getting out of that trade, stop or no stop in place. Slippage could be several thousand pips. Perhaps another good reason for keeping risk low in the first place, as unlikely as such an event is.
Oh… i hope no one gets upset at this. We could always substitute the meteorite hit for Europe, Asia, Australia, Africa, wherever… (!) i chose US because this is the currency likely to have the biggest worldwide impact. I do hope my friends across the pond forgive me!
Hi,I bought this strategy and I’m quite fond of it. In order to be able to backtest this strategy I created an EA this weekend also because at 6:00 GMT I’m travelling to my work normally and have no access to a computer and can not use the strategy.
Doing backtests on 2009 data revealed that it does not matter much whether you use a SL of 15 or 20 pips.
I also received an email from the author of SureForex that he will be offering an EA using his strategy soon.
In the near future I will post some backtest results on the forum.
-ForexPopko-
Hahahahaha please tell me you haven’t paid for this?
This strategy is absolutely free in FX Factory, someone has used it and is now trying to sell it.
Come on guys – don’t pay for this for Gods sake!
I agree with Shane, this strategy is widely available for free.
I wish the vendor well, but I would be more appreeciative of the product if it was original. As it is it smacks of plagarism
This is a joke! Shane is right, you can go onto the forex factory site and get this strategy for free with friendly non greedy people trying to help and improve the system every day. Who ever has stolen this strategy along with the indicators should be ashamed of themselves and hopefully will be punished.
I can confirm that this is available for free on Forex Factory, it would seem someone has packaged it up and decided to sell it as there own!
I have been using the system since Donna reviewed it and I love the system and the customer service. My questions are answered the same day, often within an hour. I don’t have time to read all the online forums to find promising strategies and have a problem paying a few dollars to have a successful system packaged for me. I made money in January with the system and have just switched to the trading robot that they just added.
Just my 2 cents
Steph
Sorry typo. I meant to say I “don’t” have a problem paying for a well packaged system.
S
I agree with Stephanie actually, this is a well packaged system, with good customer service. And he just made an EA for it. Which i’m about to get. Its one thing to have this system on a forum, where i have to read hundreds of pages and maybe mis interrupt something or forget to set something up the right way. (i’m easily confused). I don’t mind paying for this nicely bundled package with great customer support. And i’ve made enough money with this system to cover the cost. So yea…
this system doesnt look good recently, hit stoploss more often then TP. I just have this feeling that its been designed for 2009 market. anyone backtested it on 2008 knows its bad. and so far it has really have good profit since jan.
I’ve been consering the purchase of an EA.
To reduce the amount of time at the computer screen. In the interest of time management, I purchased the “Sure Forex v08″ EA. By the fourth brake out box the EA took a trade. For a loss of $652.00 in an demo account. Next day another trade for a profit of $7.00. I’ve sent two emails to support with no replies, to date. Next day no trades.
Results and no replies = very questionable!
Using the EA, on the forth box it took a trade for a $652 LOSS in a demo account.
Next box took a $ 7.00 profit. I’ve sent two emails with no replies.
So far not very creditable,
SureForex EA Took two trades for another LOSS of $1195.88. Screen shot available.
EA is a sure LOSS………..
I too took a small loss in Feb, 70 pips to be precise. But losses are part of the investment world. Richard, I received V08 on Feb 15 as I’m sure did the other members including yourself. Are you seriously basing your decisions on two weeks of data? If so the Forex market is probably not for you! As I write this I just received a new update on the EA that takes multiple TP’s and back tested it shows a profit so far in 2010! and smaller draw downs than the original in 2009. I think this could be a very good year for this EA
I wrote this guy a week ago with very simple questions before I bought the system.
Even though I’m guessing it’s a system you can find in the Factory or TSD, I thought I’d give it a try.
He hasn’t responded.
I saw his web site doesn’t post the results for the last months.
Makes you wonder…
Daniel,
Just to set the record strait. You wrote me 4 emails on Feb 17 2009 I replied to each one within the hour. You wrote me 2 emails on Feb 21 I replied to both and even sent you a developers version of the EA that you purchased so that you could test the EA on different currencies as you requested. The results for the EA year to date are posted on the website at http://forex-breakout-robot.com/
cheers
Nick
Hi Stephanie,
You mention a 70 pip loss. What of profit?
Hmmm seven trades in two weeks resulting in a $2555.00 LOSS to a $ 7.00 profit. Is that picture hanging level on the wall!
Back testing is not valid, as they are not real.
As for weather or not the market is for me.
I was trading future currency spreads before the days of Globex. Using The Twin Line method. A very real winner. That is until Globex came in with over night trading and killed it.
I have made 150 pips in the last 3 days with the robot. Richard you say that back tests are not real, but the demo dollars you quote are not true either. I use real money in the market and pay my bills with my profits. I hope your demo dollars also reflect this weeks profits
Hi all, just curious if any of you guys are currently using this sure forex breakout system profitably at this moment?? all the best and thanks for your help with this newbie.
carlos
Hi stephanie, how are you doing with this sure forex robot lately? i’m wanting to give it a shot so i’m curious how you guys are doing with this robot wanted to see if its consistant with monthly profit??? i posted a question and got erased not sure why???
carlos
Hi Carlos,
March was good and I am up so far in April. The robot does not win every time but the risk reward is very good and the gains out way the losses
Steph
Stephanie, how has the robot been doing for you these past few months???? just curious if the example on the website concerning profits is a true representation of true life experience from you guys
thanks
carlos
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