TheForexRoom Review

TheForexRoom Review

TheForexRoom is a Forex signal provider. Their signals are given in the Live Room and over Twitter from Monday to Thursday from 7:30am UK time which is the London Open. The London session lasts for 2 hours and reopens for another 2 hours for the New York session from 8:30am NY.  

The 4-hour trades and below are not held overnight unless otherwise states. They exit the trades by 8pm UK time (3pm Eastern) if they haven’t reached their targets. The trades from the Daily charts can be held several days.

All trade calls from TheForexRoom come with an Entry, Profit Target and Stop Loss. Their Profit Targets are never less than 1:1 risk/reward and many are 2 or 3 times greater than the size of the stop loss. This is referred to as positive risk-reward.  Trades are called mostly on the hourly and 4-hour charts. In an average week, they can call anywhere from 5 to 25 trades.

The cost of the live trading room is $97 a month but there are often promotions for discounts at sign up. At the time of this review, a free 7-day risk free trial was being offered.

The Traders

TheForexRoom is run by a solid team of professional traders: Huzefa Hamid, Neil Norton and Tim Musomba.  Huzefa is the original founder of the room and now looks after the admin side of the services as well as the managed accounts. They all trade in the Live Room where each uses his own strategy. The Live Room is a window for registered members to follow and develop their own trading styles whilst watching the moderators trade their own systems.

Education

Educating their members is very important at TheForexRoom and they provide the material needed for traders to understand how the system works so they can be profitable. To accomplish this, they provide several informative videos in the Live Room with clear explanations and graphs. The team is very service oriented and they encourage their members to ask questions about why they made a certain trade and what their rules are. It is also helpful to remember that the team is trading their own live accounts during the live room sessions, and they do their best to cover each trade while the market is moving. Nothing that goes on is hypothetical, so traders will have a solid understanding of what to do.

Performance

TheForexRoom publishes their trade performances on their results page and on Twitter feed. The results are broken down by each trader and their number of wins & losses and net pips. I was disappointed to see that the last posted result on their blog was from January 6th 2014.

All in all, TheForexRoom is easy to navigate and the information is clearly presented.

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