Vladimir’s Forex Crystal Ball may look like a legitimate and expectant Forex trading system. However, when you start to dig deeper into this carefully crafted image that is backed by one of Vladimir’s ventures – a Forex education center called Traders Academy Club at tradersacademyclub.com, cracks begin to appear.
The price of the Forex Crystal Ball is not revealed upfront. At some point, I realize that the Forex Crystal Ball trading system is a free trading tool.
However, before access to this ‘free trading tool’ can be granted, users are required to submit their name, email and phone number.
This information is collected for purposes of sending weekly marketing reviews, educational material, product access and updates alongside marketing material.
In other words, the reason Forex Crystal Ball is free is because Vladimir is using it as an outlet to capture user contact information which he can later use to pitch several other trading products.
One thing that finds me totally off-guard is how such a trading system that is portrayed to make profits can be offered for free.
Personally, I do not believe in free trading tools because they lose money. There is no developer or trader who can spent time working on a great product only to offer it for free.
That is why I am a fun of these Forex trading robots because they agree with my trading methodology and they are also priced accordingly.
So in this Forex Crystal Ball review, I will basically go over the components of the trading tool and give you my insights as far as trading with this tool is concerned. However, if you would like to learn my trading strategies and methodology, I implore you to explore this course.
Forex Crystal Ball Review
The Forex Crystal Ball is basically a Forex indicator.
Vladimir reveals that the Forex Crystal Ball is based on 8 years of historical data and analysis.
There are two components in this trading tool that allows the system to predict whether two or more bullish/bearish candlesticks will form consecutively.
The other component allows it to pick tops and bottoms for trend reversal patterns.
When these two components agree, the Forex Crystal Ball indicator will issue a signal alert.
This explanation is immediately followed by a couple of MT4 screenshots allegedly showing this indicator in action.
This is Karl Dittmann’s style of pitching which does not resonate quite well with an informed audience.
Forex Crystal Ball Review: The performance
Instead of a myfxbook account tracking the results of this trading tool, Vladimir decided to create his own ”tracking mechanism” in the members area.
MT4 screenshots are allegedly taken when trades are being placed and when they are closed. This information will also show entry price, exit price, take profit, stop loss and ticket number.
Total pip summary and overall returns are calculated and displayed as past and live performance.
I did not manage to enter this member’s area. However, I noticed that this tracking mechanism was basically line graphs recording pips and return on investment. Vladimir and his team are 100% in control of the results you see in this members area. In other words, those results are not verified by a third party.
I personally prefer that results must be shown on a live myfxbook account. If indeed Vladimir and his team trade regularly, they should set up a myfxbook account and present those results there.
Who is Vladimir Ribakov?
He claims to be a Forex trader and mentor with 12 years of experience in the financial markets.
He also claims to have worked as a dealer at an unnamed execution desk and a hedge fund later on.
Other claims that he makes on the Forex Crystal Ball and his other websites is that at one point, he was paid a lot of money to reveal his trading strategies to employees of a hedge fund.
As with every other trading mentor, Vladimir also claims that he has taught numerous other ”proven traders”.
Whether these claims are true or not is something I cannot verify because Vladimir himself does not mention the names of the corporations he worked for as well as some of the ”proven traders” who learned under him.
Historical analysis trading indicator: A red flag?
You have heard this phrase that history repeats itself. My perspective is that this is not always the case, especially when it comes to the market setting.
I have reviewed so many trading systems here, some are even over-priced. Why would there be so many of them if history repeated itself and that we could apply history on the market over and over again to win every trade?
At the bottom of Forex Crystal Ball website, Vladimir admits that the screenshots showing performance of this Forex indicator are hypothetical performance and that the entire presentation is based on hindsight.
Does this prove to me that Forex Crystal Ball is yet another trading indicator that only predicts where the market will go next based on historical analysis?
Yes it does. And with all predictions (without solid trading methodology and strategies such as price action), we can be sure that we are doing nothing but gambling.
Thanks for reading my insights in this Forex Crystal Ball review. But I don’t fully trust this indicator to include it in my list of must have Forex trading tools.