Awhile back, I got an email from a guy who started a Twitter account called FXSundays. At the time, he was just making Forex calls for the week on Twitter. I didn’t think much of it because there are a lot of people making calls on Twitter and most of them are worth the price you pay for them…jackshit.
On top of that, he wasn’t disclosing how he traded and he didn’t have an easy to follow track record. But I did like the fact that he was making all of his calls publicly and they were there for anyone to see.
So I encouraged him to possibly start a blog and maybe sign up with MyFxBook so that people could easily follow along with his trading. As it turns out, he did end up starting a blog. In this post, I’ll tell you why it might be worth following him and why it might not.
Big disclaimer here, I don’t know this guy very well, except through a few emails that we exchanged and I haven’t verified his track record. I am writing about his blog here simply because I think that it could shape up to be something cool. Because of this, I do not recommend putting real money on the line with his calls, but you may want to follow along with in demo account. In addition, I personally believe in learning to trade for yourself, but check out the end of this post to find out why following FX Sundays could be worthwhile in the future.
What you might like
First of all, he is not out to make money with this. It is totally free. He has recently started asking for donations and putting up ads, but in my emails with him, it seemed like more of a way for him to get his ideas out in writing so he can trade better.
He doesn’t talk about anything about his trades. It’s pretty simple, he gives you his levels on Sunday and he tells you how he did. He does throw in some market analysis from time to time, but it is minimal. You can go back through his past trades and see what happened.
On top of all this, he seems to be doing pretty well. At the time that I emailed with him, he had quit his day job and was doing it full time. This may have changed, but I respect his guts to give it a real go.
What you might not like
However, there is still the fact that his track record is not verified by a third party service such as MyFxBook. Because of this, you don’t know if what he is publishing is true or not. In addition, he gives his results in pips, so you don’t know how he is doing on a percentage basis.
This being said, I don’t have any reason to believe that he is not being truthful on his blog (but I could be wrong). If he does get to the point where his record can be publicly verified, we might have the makings of a great independent Trader on our hands.
Maybe we can even get him to disclose how he gets he trades.
Have you been following FX Sundays? What is your opinion? I would love to hear about it in the comments below.