Slumdog Forex Review

The Slumdog Forex course is a forex training program that focuses on making small percentage gains (1%-5% per trading day) over a long period of time. The claim made on the sales page is that one can turn a $100 investment into $160,000+ within 12-16 months, and that this system is accurate over 89.1% of the time. Pretty big claims, I must say. But, I was really tempted to try the system because of the video the author showed where he was talking about how the banks -- yes, the same banks where you keep your stash -- actually make a lot of their money by trading forex, only they use small amounts of each customer's money to trade with. They're supposedly using the same trading system that's laid out in the Slumdog videos and manual, and there's no reason why anyone can't use small amounts of their own money to do the same. With that said, here's my Slumdog Forex review based on my results with my demo trading account.

Slumdog is all about using the principle of compound interest, which is best described with the ever-popular example of taking a penny and doubling it every day for 30 days. So if you start with one cent and double your money every day for a 30 days, you will end up with $5,368,709.12 by the end of the 30th day. In terms of forex trading, this means that you can take a small amount of startup capital (100 bucks) and grow it into a behemoth after a year or so.

If you start with $100 and trade five days a week for a year, the math works out to be $171,783.18 by trading day #252, assuming 3% daily gains. This is the type of thing where each day, you have to go "all in." As your bankroll grows, this can get a bit scary because you could lose a lot more money. On the other hand, if you only started with $100, you haven't really "lost" money until your balance dips below $100, so you're not really risking any more money than what you decide to start with. What you could do if you're not the aggressive type, is you can start small and progress to a certain point and quit. Then you can start over with the same small amount and take it up to a level where you're comfortable before pulling the plug and repeating the process.

Ok, so there's a PDF book and a bunch of videos in Slumdog Forex. The book goes over the basics and explains the philosophy behind the system. It may go against other forex guides that you've read before, and the author expects you to "unlearn" bad techniques that you may have picked up from other courses. Fair enough. I personally only have one other book on the subject, as I'm just getting started, so I don't think I'm too tainted. :D

What the author, Maurice Perry, has you do first is set up a demo account with OANDA. He walks you through the configuration of everything, right down to formatting the colors of trendlines and candlesticks. This was good for me because when I first logged into OANDA I felt like I was at the helm of the Starship Enterprise and wouldn't have had a clue what to do first. The instructions are covered in the manual and the videos. You also get to see videos where the author has done trades and made money over a consecutive five-day period. When I watched those videos, it was really hard for me to doubt the validity of this trading system, as I did doubt it somewhat when I bought it but I thought I'd give it a try anyway.

I've been doing trades in my demo account, and I'm really getting the hang of it. So far, after about four and a half weeks of trading almost every day (I missed some days due to family matters), my balance is around $143 ($43 profit), which is on par with the trading projections based on 2% daily gains, which is about what I've been getting. Ok, Maurice, you win. I think I'll work the demo account some more just to be totally convinced that this works and my gains weren't just some fluke or "beginner's luck," which I honestly don't think they are, but you can't be too careful.

So there you have it, my Slumdog Forex review. Check it out. Oh yeah, I almost forgot -- there's a section where you can upgrade to get the "live trade" videos. Unfortunately, my wife is forcing me to wait until I've pocketed 100 real dollars from forex trading before I can upgrade my membership. (Yes, I'm whipped. Get back to work.)