Created by Rich Fitton and offered through Canonbury Publishing, Overnight Momentum Trader is a Forex trading system based around spread betting.
What is the product?
Overnight Momentum Trader is a tradeing strategy for Forex, allegedly developed by Rich Fitton over a rather substantial career starting out trading in his spare time and “’ethically bribing’” his way into the Chicago Stock Exchange. It has been published through Canonbury Publishing (which means that a physical copy will be sent out to you). The strategy is based around spread betting which is, put very crudely, trading based on whether you think something will go up or down in value with the spread being the difference between the high and low point. Whilst I cannot disclose the full details of how Overnight Momentum Trader works, I can explain some things. Trading is on a number of different currency pairs, all of which are well known examples (such as the Euro and Pound against the Dollar) with the general focus being on longer term trades with some having the potential to be open all week (although they can also be closed within a day if the circumstances are right). There are actually two variations of Overnight Momentum Trader, one which favours a higher risk (but higher yielding) approach and one that is designed with longer term profits in mind. Checking up on trades is a simple enough affair to be carried out at night. Read more
