Investing in the trade market is certainly a great method for acquiring passive income while having other streams of income from your business or job or what have you. For trading, you may trade in stocks or in the Forex market. For purists, trading is a full-time stint, believing that it involves 100% dedication in order to get good results from your investments.
However, Shirley Hudson, a Forex trader, discovered a strategy that boasts 90% (and more) returns with 100% accuracy—and you can do the trading within a shorter time frame per day. She has used the London Close Trade (LCT) Strategy from Forex Mentor, and together with Vic Noble, they have shared the secrets to her success through a video training course that you can get online.
This article will present an overview of the course and its pros and cons.
The London Close Trade Strategy is an innovative Forex trading strategy by Forex Mentor that was refined and subsequently applied by Shirley Hudson for over 18 months. It is a day-trading strategy that specifically works for the London Close, as the name suggests. It is time-specific, in that you are only required four hours of your time in a day—that is, from 9:00 AM EST to 1:00 PM EST (3:00 PM GMT to 7:00 PM GMT). Basically, it involves trading using the 5 or 15 minute time frame to help you get the positive results that Shirley Hudson acquired.
The London Close Trade Strategy course will delve on the following topics:
- The London Close setup
- Trade entry
- Setting the stop loss
- Profit targets and trade management
- Tips, questions and answers, and other additional information about tricks in the Forex trading market
The London Close Trade Strategy course comes in two versions: the online version and DVD-ROM version.
For the first one, the online version, it includes the full video course, the online version of the LCT strategy, and bonus materials. This all costs $199. Note that this version requires a high-speed Internet connection in order to download the course.
The DVD-ROM version has the same items as the online version, but with the additional full video course on DVD. This costs $269, plus shipping and handling with differ depending on your location.
The appealing feature of this course is that it is straightforward in its method of teaching. It is a good entry-level strategy in the Forex trading market which you can use to eventually scale up to higher investments and more aggressive trading once you get comfortable with the techniques.
Does not take so much time in a day
What made this strategy work well with Shirley Hudson was that it does not take too much time in a day. It is time-specific, as mentioned; hence you need not be a slave to your computer the whole day monitoring the goings on in the Forex market.
Requires medium to small risks
One of the advantages of LCT is that you can risk a small amount initially, say an initial $500, with an average rewards-to-risk ratio of 1.25 to 1.
Price is attractive considering the value
For a Forex trading strategy course, $199 is a good amount to start. The package includes a comprehensive course on the basic know-hows in trading, allowing beginners to have a good head start, plus how to work smarter using the strategies that Shirley Hudson has used.
What We Don’t Like About It
Applies specifically to London Close Trades and not for other open and/or close trades
While this strategy proves to be effective in the London Close Trade, it only applies to that niche in trading—nothing more. Hence, the strategy is not a very versatile course. You may need to research on other trading niches if you wish to explore more in the market.
Requires understanding on basic courses of trade
While the course can give beginners the gist on the basics of trading, it serves more like a review; hence, those with shorter learning curves may struggle when applying the strategy. The LCT strategy still requires a good amount of skills, and because Shirley Hudson has been trading since the 1980s, it can be attested that she is an experienced trader—perhaps one of the reasons why she was able to get accurate results from this strategy.
That being said, this is not a get-rich-easy strategy; it requires intermediate knowledge and skills in trading. Fresh traders may take time in getting the results that Shirley attained. Note that she reported to have refined the strategy in 18 months—and that’s from a seasoned trader.
Involves subjectivity as to the results
Furthermore, it should be emphasized that the amount of aggressiveness that you invest in can be tantamount to the results you will get. This will depend on how aggressive you are. Understand that this strategy is quite new to the market and not widely accepted by a lot of traditional traders. You will need to be comfortable with the strategy before you can trade more aggressively.
Practically, the results will also depend on the amount of investment that you put in the trade. Moreover, the 1.25 to 1 rewards-to-risk ratio may not be very accurate. If you are just starting, the ratio may be 1 to 1—not a very promising ratio.
The time frame
While this is very time-specific, this may not be a good time for people in other countries investing in the London Close. The time frame for the London Close Trade may not be very convenient for those with day jobs. For best results, you will need to watch the market every 5 or 15 minutes within the 4-hour time frame, which means that it takes much dedication however short the time.
The London Close Trade Strategy is a good course for beginners to learn the tricks of the Forex trade market. However, it needs a lot of practice, and the first few months of application may not bring you very good results. This is a strategy that is beneficial for traders who can give 4 hours of time to monitor the market—which may be better than having a 24-hour surveillance. The verdict is that this strategy takes patience and time in order to get the stellar results that Shirley Hudson had but it is worth a try for anyone in the Forex market.