UPDATE: Read the response to this blog post from Mark McDonnell at the foot of this article.
I came across quite an interesting site this week that I thought I’d mention to you for two reasons.
1. The FREE information the site offers is quite interesting and certainly worth your attention.
2. The site owner, Mark McDonnell, has a very interesting style of customer service.
Forex Early Warning http://www.forexearlywarning.com
The basic ideas that the site offers are nothing new and are certainly not revolutionary. They center around the idea of a heat map of the 8 main currencies: USD, EUR, GBP, CHF, JPY, AUD, NZD and CAD. The heat map the site offers is web based and is split into two sessions, Asian and European/American. It simply shows a percentage change from the start of each session up/down of the ATR(14) for each pair. Pairs are grouped together so that you can easily see if, for example, the USD is strong or weak. You can get similar tools for free of course. The best one I’ve found is over at Forex Factory.
There are a whole bunch of resources and articles on the site that revolve around how to usefully use the heat map.
You can check out the heat map yourself for free for 30 days after which time it will cost you $20 a month for the privilege. You also get two ‘trading plans’ each day which are nothing more than a long winded explanation of which currencies are strong/weak and where the support and resistance levels are. To be honest you don’t really need this information as it’s blatantly obvious where the support and resistance levels are if you just look at the chart.
Beware though when you sign up! If you don’t give Mark your full mailing address and phone number you’ll get a curt email demanding that you provide it just like I did.
“Steve please verify your email address that you used for forexearlywarning and give us your full street address and phone number.”
Then if you make the cardinal sin of asking why a site that you only signed up with to check out what they have to offer needs your mailing address and home phone number you get an EVEN more curt response.
“In the United Stated(sic) we have anti terrorist laws and laws against money laundering, also we contact you by phone for your new users orientation. A full profile filled out qualifies you for customer service. If you have questions we will nto(sic) respond unless we have your full information suite.”
Mark forgot to use my name and made a few typos in that response. Guess he’s too worried about the hordes of Al-Qaeda members flocking to his site to launder money!!!
Mark also runs a yahoo group for trend traders that I thought I’d check out and I tried to post an innocent question on the group regarding the latest DVD of one of his seminars that he was trying to peddle. I simply inquired as to whether there were any short samples of the DVD so potential buyers could see the quality. Needless to say my audacious question never made it onto the ‘open’ group. Instead I got yet another friendly email from Mark.
Steve here are all of the video resources, they are all free except for the $34.99 DVDs on my web site.
If you are interested, buy them, if not don’t.
Steve be realistic, some people charge $3000 for DVDs. Yes they are high quality and so is everything else we do at forexearlywarning and I think you know that.
After my interaction with Mark I went ahead and wrote my own version of the heat map so I could run it directly from within metatrader. I also added alerts so I would be signaled when a particular currency started showing strength or weakness. Now I have no need to bother Mark ever again and I can leave him to get on with the daunting task of combating World terrorism and thwarting those nasty money launderers.
My advice would be to check out the site, take all the free information on offer and then grab some free tools and test the concepts out for yourself. Don’t give Mark one single cent of your hard earned cash.
UPDATE: I received this empty and baseless threat from Mark a few days after making this blog post.
“Steve it appears that you have places (sic) copyrighted materials of mine on your website. I have the snapshots of the material with the URL.
You were not given permission to do so by the copyright owners. Please remove all copyrighted materials and let us know when you are finished removing it.
Now you know why we asked so many questions. You can continue to make us out to be bad people but be careful with the language and remember you may have violated a a (sic) law, and we wont be blogging about that anywhere.”
It’s obvious Mark is no lawyer as their is nothing in this post that infringes anybody’s “copyright”. The image, which I guess is what he’s referring to, was found via Google image search. Maybe Mark should work more on his people skills and spelling/grammar than playing at being a lawyer or a DHS agent.
Category: Forex Articles