Anyone use FXCM FX Signals?

Trading Discussion
1

Hi there just wondering if any of you who use FXCM as their broker use the free trading signals provided (FX + Signals). If so how have they been working for you? Profitable for the most part or hit and miss?

Thanks
Serge

2

I don’t use the automated signals from fxcm, however I have decent success following the suggestions of the technical teams for each currency pair. If you click on the currency links on the left hand side of the screen it will bring up a small section with how they are playing the market. For example, thursday/ fridays suggestion was to sell the usd/jpy on a failure at 90. It worked out well for me. Several times. Altough I would not recommend following any signals blindly, for guidance they can be useful. Hope this helps.

dmac

3

I dont use their signals either-but like Sergiel, I do use their tech analysis, but not to place trades, just to use their analysis to put my own analysis in context.

It is sort of a confirmation.

4

I’ll agree with the other replies. The trading signals are ok but I wouldn’t use them as your main source of information. Pretty much every time I check the tech analysis they’ve done and compare it to my own indicators / analysis the market has moved my way within a few hours.

5

Thanks for the replies. Are most of you using News type Indicators or graphical (eg. MACD) type anaylis along with the FXCM technical analysis?

Thanks

6

I trade using pivot points, RSI and price action. I look for for the market to approach support or resistance (pivot points) and use price action and the RSI to confirm. Primarily, I use FXCM’s analisys as a sort of double check on my own observations and thinking.

7

Letting go of my fears of being ostracized, let me suggest that you could also try using Linear Regression channels as support and resistance (there is a good post on the newbie area) After that identify the main trend (I do with good success on an H1/H4 charts), and then use this info to place trade.

Be creative with your s/l and dont just use one based on CONVENTIONAL 2:1 r/r ratio or “place your s/l such that never risk more than 2% of your cap” thingie…

All the best!

8

Funny you should mention LRC, I just came across a post on that and downloaded the indicator (one with alternating red and white lines running across the screen) Not sure how to use properly yet though. You would’nt happen to have the link to that thread in the newbie section would you? I cant seem to find it.

Thanks all!

Serge

9

Hi, can I make use of this system on FXpro platform? If yes how can i go about it?
Thank you.

10

Hello!
I have gone live on FXCM only a few days ago; I am afraid I cannot help you because I do not use their signals, but I agree with other posts in saying that I do not follow their suggestions/analyses blindly.
One thing that i would do, also, is to get on the mailing list for John Kicklighter’s daily Trading and Strategy videos; he is DailyFX’s Chief Strategist (DailyFX is the research arm of FXCM), and his insight into markets, both on fundamental and technical themes, is a good source of strategic thinking.

Regards

11

Hi Isaac,

While the DailyFX PLUS Trading Signals are not available on the platforms of other brokers, you can automate these systems on an FXCM account by using our Mirror Trader platform.