ForexMentorPro – Review

Posted on 09. Jun, 2010 by Jakob in Random Noise, Review

Some time ago I wrote a preview of Dean Saunders and Marc Walton´s new service ForexMentorPro (Read it here). As most of you probably know, I have tried pretty much all of Dean Saunders trading systems and strategies. There is pretty much only one thing which I dislike and that is his use of hyped landing pages. Besides from that I think Dean has some pretty good trading systems and I like his way of simplifying things. ForexMentorPro is different from his earlier releases, in that this is more of a service where you get more education rather than a specific trading strategy. However, this is not a signal service as you do not get exact recommendations on where to enter and exit, but more a guidance to profitable trades with a rather specific explanation of how to approach the trade. Let’s take a look on the details of ForexMentorPro and what you actually get, from being a member. When you log in, you are basically taken to a blog where you have access to the following sections:

Forex Strategies
Mentor Blog
Economic Calendar
Forex Brokers
Recommended Products
Contact
Logout

The most important sections are Forex Strategies and the Mentor Blog. The Economic calendar is basically just a calendar similar to forex factory´s calendar. Forex broker is just a link to a broker which they recommend. Recommended Products is a page with links to the other products created by Dean Saunders.

Forex Strategies
In this section you have access to a lot of tutorials, which is split in to the following five categories:

Adv. LMT Videos
This section has a total of 12 videos about how to trade profitably with Dean Saunders LMT Forex Formula. The LMT system is a standalone system which you need to purchase as this is not included in this service. I have tried LMT Forex Formula and I like it (Read my review here). Basically it is a trend retracement trading system, and it works pretty well, especially in trending markets. I had one comment here on my blog, from a guy telling me that LMT is a bad system and only works in trending markets. Now I agree that it is definitely a system which should be used in trending markets, but I guess that part of the reason why it might not work for some, is because you simply enter a trade 100% according to the recommendations from the system. In these videos you will see that there is more to it than that. I know that Dean mentions this in the guide that comes along with LMT, but in these videos you get all the details, and you will be able to learn how to use LMT in an appropriate way. I would say that even though you might not own LMT you can still get the basic idea of how it works from these videos.

M1 & M2 System
M1 & M2 are basically two breakout trading strategies , one of them which should be applied just around the London open. Once again you get a total of 12 videos where you will be taught everything about these strategies and how to trade them. You also get links to all the indicators used by Dean and Marc, and a couple of pdf files if you favor reading over watching. Unlike the LMT videos, the M1 and M2 are systems which you can apply directly, as there is no need to buy them as standalone systems. You get everything you need with this system to get started right away.

Blog Articles
This section has a total of 10 videos and 1 pdf file where 7 of the videos are a detailed explanation of Elliott Wave analysis and the rest is about Trader Psychology. If you are new to trading, the videos on psychology should be a great help. I am not very fond of Elliott wave analysis, but for those of you who like it, I am sure these videos will be a great addition.

Marc´s Tutorials
This sections has a total of 13 videos on various topics, including:
Head & Shoulders – An in depth view of the GBP/USD head & shoulder pattern.
Trading Gaps
How To Use Meta Trader 4
How To Trade From Weekly Charts
The videos are to the point and easy to follow. Again, if you are new to trading, I think this section will bring you a lot of value.

Dean´s Tutorials
Another section filled with videos. First of all, there are 4 videos about break out trading and then two videos about candlestick formations. There are also a couple of indicators which Dean uses in his everyday trading, and videos explaining how to apply them. There is also a link where you can download his ebook The Blade Forex Strategies. This is an ebook with three trading strategies, which was sold some time ago for $97. Here you get it for free as a part of your membership.
That’s about it for the Forex Strategies section. Next section, and probably the most important one is the:

Mentor blog
This is a blog which is updated daily, always with text and video explaining you which potential trades Dean and Marc are looking at. Besides from the video where everything is covered in details, they have also added a spreadsheet with all the pairs and exact levels which they are looking for on every single pair. The trade recommendations they give are often based on LMT but there is no need to have this system in order to trade their recommendations. But the trades are often based on a trend retracement type of strategy. I have taken a couple of the trades recommended and everything went very well. The video updates are done by Marc and it is easy to tell that he knows what he is talking about. I have spoken to Dean about the site and he tells me that they constantly add new things to the site, in order to increase the value for the members.

One thing which I am really thrilled about is the price for the service. Now obviously this is not a live trading room and no exact entries and exits on signals are given, but I think this is reflected in the price which is $50 per month. I really think you do get a lot of value for this price, relative to other services. Besides, if you are more interested in learning to trade, than just to get a specific signal, then a service like this might be a good choice. As a final note, ForexMentorPro is sold through Clickbank so if you don’t like it, you can always get a refund. At this moment I have tested pretty much everything from Dean Saunders and I like most of it. If you need some guidance in your forex trading journey, ForexMentorPro or one of the other systems from Dean Saunders might be what you are looking for. Check out ForexMentorPro here.

Related posts:

1. ForexMentorPro – Discount on Dean Saunders Stuff
2. Forex Powerband Dominator Review
3. Review of LMT Forex Formula from Dean Saunders
4. LMT Forex Formula is out Tomorrow
5. LMT Forex Formula from Dean Saunders

Tags: Dean Saunders, Forex Powerband Dominator, ForexMentorPro, learn forex trading, LMT Forex Formula, Marc Walton, Trading Forex