Thread: BetOnMarkets sounds awesome! But need ideas on how to trade it...

Guys,

I was introduced to the betonmarkets (BOM) system today from marketing guy over the phone. I was surprised that afterall my research into forex that i haven't heard of anything like BOM. He is trying to sell his system which looks like some sort of trending system(it just shows the currencies listed with either UP, DOWN or NO SIGNAL arrows next to them. He wanted to sell this system fro $9000. The company name is next generation group nextgenerationgroup.com.au.

The marketer showed me a live trade example and he seemed to do well on the 'flash'style of betting. (Using the flash method of betting which allows the user to win simply if they say the market goes up or down within a certain time.) He won his bet he placed and showed me how to trade using his indicators.

Now what was spinning in my head was how to do this myself. it obviously looks like some form of trending indicator which worked good for the 2min timeframe. I tried a few trending indicators of my own such one I made up out of the MACD, Scheoff trend indicator, and awesome oscialltor and i worked ok but im looking for something better

So can anyone recommend a solid indicator for the 5min timeframe that is a trending indicator? It seems scalping indicators would work best for a system like this. Open to suggestions.

Hi,

I had a similar demo with Andy from NextGenGroup yesterday and was impressed with the way he traded/bet using betonmarkets using the trend indicator software they want to sell. I was just wondering did you end up buying the software or came up with any sort of your own trending indicator. I'm just not exactly sure how legitimate this software and bettig would be and if there is a realistic chance of making money by trading properly or it could be one of the scams. Any more information you have would be extremely helpful.

Regards
Mihir