Fxcomment signal service discussion

Trading Systems Expert Advisors and Automated Trading
113

jamshidz

I think when joining a service like this the first thing to do is look at past performance and see if that justifies going in (remember past performance does not guarantee anything). In the case of this provider past performance looks good.

Once you join you need to limit your maximum loss on each signal. 1% seems like a good figure (not more).

This is calculated on the stop loss of the signal…examples :

If you have $1000 in your acc and the stop loss is 100 pips (about normal for this provider) your contract size is around 0.01 standard lots, 0.1 mini lots or 1 micro lot. (1000)

If you have $10000 then you can trade 0.1 standard lot, 1 mini lot or 10 micro lots. (10000)

If you have $100000 then you can trade 1 standard lot, 10 mini lots or 100 micro lots. (100000)

All trades should be the same in terms of the risk (I noticed that when your first trade was stopped out you reduced size)

You should be prepared for loses (drawdowns) which is a normal part of the forex trading business. A run of 10 losses (10%) drawdown should be considered normal. (I notice you started to worry after the very first trade was stopped out).

You can consider putting a maximum drawdown on your acc for this service. If you are not prepared for say 10% then really you shouldn’t join in the first place.

Just my 2 pips worth :slight_smile:

114

jamshidz

Since you started your post with accusing me to be a member of their team, then nothing to be discussed here.

By the way, I want you to check the closing of EUR and GBP as this is worth to be seen.

losing 300 pips in the last three weeks could be 3% down according to their strategy, which shows they have knowledge, but all make mistakes.

This is my last post here, while accusing me as a part of this service is strange and I could also say you are a member of a different signal providers team.

Thanks again and you should re-consider your trade quantities and I say that for your sake.

Finally, I emailed them to see if they have a copy trade system because I m busy and they sent me the signal they created in zulu trade a few weeks ago. They made 2700 pips in 10 weeks, which really proves they don’t have knowledge…hahahahaha !!!

https://www.zulutrade.com/trader/326178

Check it and then lets attack each other according to your way since first post :slight_smile:

115

I signed up at a bad time but in Forex losses do happen no need to freak out over a few bad trades, yet. It’s very prudent of them to pause trading after some losses and nice of them to extend the subscription. Next week is probably not a good time to trade anyways because of the Brexit uncertainty. Best wishes for them to get their mojo back after resume trading. It would also be helpful to filter the signals with your own analysis, when in doubt, stay out.

118

Crazy day and these are their official results as an update and it includes their risk management strategy

119

Dear Koko53,

I just read your messages now, and I’m kinda sad that your happiness on 250 pips couldnt even last for a day and ended up with a huge loss, almost one trade covered 3 profitable trades, kinda funny.

Seriously no offense, but the way you’re interpreting things over here is so tendentious, and thats why it lets me call you someone from their team, coz you keep praising them on whatever action they take, bringing you profit, loss, opening crazy trades, ignoring fundamentals and news, etc and to you all of these are all considered as wise choice which doesnt make sense at all. To me a proper and fair testimonial is to cover all +ve and -ve points unless you have some other intention.

And Im very happy that during the last week among the 4 trades i just selected one which was CADJPY and that earned the highest pips among all other trades, however i opened a very minimal lot coz seriously no more trust on their signals as of now.

It is so ridiculous to ignore such a big event so called Brexit and call for a BUY signal on AUDJPY right on the worst timing. C’mon thats very basic, AUD is the among those who suffer the most by this event, if you focus abit on fundamental you would discover on how AUS economy is dependent to europe and how much investment they have in Europe and how much is the figure of their foreign consumer in Europe. How come you are opening trades in that very moment !? Based on what logic !? They thought Brexit means no trades on GBP and EUR only.
That’s why i said they have lack of knowledge in forex, they might be good in technical analysis but believe that doesn’t guarantee sustainability in this type investment if you keep ignoring fundamentals.

To me, based on my 2 years of being in FX market using so many signal providers as well as managed accounts, i understand that a signal provider who earn 0 pips (break-even) is categorized as BAD, and please allow me to categorize them as VERY BAD, TERRIBLE, HORRIBLE, WORST, etc by earning negative. This is my testimonial for them after using their signal for one month, it might change next month if i could recover this month plus extra.
Sir, i emphasize again that i cant see their past performance and comment based on that, its more logical to see my own experience with them rather than relying on their pas performance which could bring nothing for me.

Lastly, If you are really not part of them, please please stop your one-sided praising on them coz it might affect others in their decisions of joining them. It is not normal when they bring you profits you praise and when they fail to do so you again praising and call their actions wise choice and blame markets and other factors instead of them.

Regards,
Jamz

120

Dear Jamz,

Still accusing although all what I want from you is to be fair, while the last month is bad, but I m talking also depending on my experience with them, which is for me good enough to defend about your bad words, which also affect the decisions of joining them from others. That is why I see it unfair to always attack them.

And once again, it is normal -very normal- to see some negative after strong performance and that is based on my experience with other providers.

Best of luck for all

121

Hello all, this is my first post here as I found this review by chance on FXCOMMENT signals. I’m an old subscriber to their service. Since I joined them in January 2016 and since I’m not fond of participating in Forums I didnt see this thread until I catch by chance but I foud it a good opportunity to testify after I read many comments here.

1-I should clarify that fxcomment traders have a very good experience and they own the knowledge of risk management, so I was astonished when I read some bad comments becasue of the performace of the last month; however, I know the feeling of joining a service and then you don’t make money in your first period.

2- I have gained big amount that is more than 65% increase in my account during my subscribtion period after using 2% for each signal, which is bigger than their recommendation of using just 1%. for each one.

3- I liked their style, which makes you updated by WhatsApp notifications to check email and the premium zone.

4- To my understanding, it is impossible to make huge profits all the time in the fx markets; however, the total pips old subscribers have made were very very good indeeed.

5- I tried many signal providers service before, but I really find them the best company among those I tried in my 4 years in the fx markets since I joined a compony -no need to mention its name- that has made 1850 pips in 2015 and they havent been attacked as same as I found attacks here on fxcomment which made 4700 or 4800 in 2016, which in my opinion is magnifcient and really, they are very honest.

Guys, I recommend fxcommet withhout suspect depending on my experience for 6 month with them and I would like to share their perofrmance from their site.

122

I never ever said those who praise the fxcomment team are wrong, no! perhaps they made profits and they are happy out of it and its fair.
On the other hand, you also can’t stop me (or others) from expressing my experience and indeed complaining on their service, because i have got my worst experience with them comparing to all the signal providers i have used so far in my 2 years of being in forex, and this is serious my friends.

For your information I am at -300 pips from my joining date (almost 35 days), however i started with 5% risk in the beginning and Im now at 0.5% risk… It means I should actually gain +500-600 pips to be at break-even, which Im very hopeless to see this. I even couldnt earn the subscription fee and my sub period will be over by end of this week.

And to just highlight on the open positions at the moment, it shows we are going to experience more loss… out of 3 open positions, 2 RED, and the other one is going against as of now.

Based on my experience with them so far, I do not recommend them at all at the moment. I might change my mind in future by seeing some good performance which is worth recommending them.
Please understand that I dont gain/lose by saying all these, I just dont want someone else like me decide to join in this very bad moment based on all these one-sided comments.

123

@jamshidz I know how you feel, but I would like to say, it is not a matter of praising them or not from my side. I’m just telling the truth based on a long time I passed with them. Thank you my friend.

124

Lol, another -350 pips for this week. This is ridiculous!!!

And you guys still dont want to believe something is going wrong otherwise how can this possible? You still believe they have the knowledge!?

It might be funny but if we just opened trades exactly opposite of their signals we would be at almost +600 pips.

125

jamshidz

I know you will say as always, I’m a member of their team and such things you say, but according to your stats that you wrote here it this thread before, you joined in the last week of May and yes the last week of May was red, but overall pips of May was about 800 pps.

This is number one and number 2 I don’t know from where did you get these 500 pips loss

And in my previous experience with famous signal providers-I’ll not mention the names- some trades have been edited in their favors and some have been deleted, while some stops for just one trade sometimes are bigger than 400 and 500 pips. This happened to me personally.

Additionally, I’m so sad like you exactly because of the performnce of the recent weeks, but stop being offensive to them that way.

Say whatever you want about me and say that I’m a member of their team, but I don’t think you have enough experience to judge particularly after you said you entered with 5% in one trade !! which is upnormal and not scientific at all and also you changed the quantities of your trades several times, which is also wrong.

For me, I’ll support them and again I’ll show here their results and their performance to be fair.

All what I want is to be fair becasue I found them fair and honest in their work. No matter what you will say !!!

126

Koko53, I dont know why things I wrote in other threads are quoted here by you. If you are going to quote me please be accurate. Yes, there were 5 losses in a row, the part you left out is that those losses were fully recovered the next week and ended with a profit in 2 single trades. If you are going to quote me in future be accurate.

128

When did they take thousands of pips loss? Their performance is open everyone, they were never in thousands of pips loss to this date. If you are talking about these GBP trades, there were 5 trades with a total loss of -831 pips, which is an average of 166 pips stop per trade. This loss was recovered the following week. It was the biggest consecutive loss since 2014. If you exaggerate no one will take you seriously.

129

Pollar, It was my bad I meant to say hundreds not thousands. Sorry, but I also meant, new subsribers who have joined just ahead of those trades have faced a big problem before recovery. This is the case herein and this is the market. One should see performance and study it before judging to the service becasue of week or even a month of loss and what happened here that, the guy attacks since his first trade, which is totllay unfair, so I wanted to explain to him how that may face big names then the recovery will come.

Hope you understood me

130

I dont know how things work here but people have different expectations. If I was joining a service and all I see is losses I don’t know how happy I will be if I didn’t take small trades. So those that think the boat is sinking will jump, those that think the boat will keep floating will stay.

133

Have they not had any trades this last week?

135

@ Koko53,
You are right, I had a mistake not including the +130, but that -350 pips is true my friend, my loss on CADCHF was -35 pips as i got the signal after few hours and after discussing with the Fxcomment guy he actually gave me green light to follow that signal even though it was about 20 pips above the actual entry point, and my loss for AUDNZD was around -98 pips, which will be -343 pips, plus -215 pips will be -558 pips and if we deduct that +130 pips, the total would be -428 pips.

Beside this, can you honestly tell me your total number pips you lost for the AUDJPY on Brexit day? I heard from a friend of mine who took that signal, that he lost almost 60 more pips beyond the the SL cause of rapid movement on those few second. Your loss should not be less than 210 pips and its impossible that your SL was hit. but Im not including all these cause if we look at it fairly it is absolutely irrelated to the fxcomment team.

And you are giving example of other signal providers who also lost big, but you should also highlight that they have recovered immediately, I am now at week 6 and yet to be recovered all those losses .

@hellofx2000
Again you are pointing to me to prevent me saying to the public about my experience with Fxcomment. I just clear some of your points here:

hellofx2000 said:
“
But indeed I want to say to jamshidz you need to be more calm and you need to manage your risk as well.”

My friend, my risk is totally managed and I am following my pretty decent Risk Management plan and Im using this during my entire forex life and really happy with that, the loss I had with Fxcomment is almost nothing compared to my capital, I had recovered them with few personal trades.

hellofx2000 said:
“Fxcomment performance since the last week of May wasn’t as usual, but still they are doing well in general and this is a fair testominy.”

I have not seen any good performance from them so far, [B]-428 pips[/B] in 6 weeks says it all.

hellofx2000 said:
“Believe me jamshidz, I didn’t find in this forum anyone uses the words you use for a bad performance for a week or for even a month.”

I just told the truth and I did not lie, and for every statement which I referred to them I provided reason, you can refer to my long posts. It might not make sense to you but it does to me, so I expressed them out. And again I say it, to me they are horrible as of now.

hellofx2000 said:
“This is the market my friend and you should accept losses as much as you feel happy when you make profits.”

So far with Fxcomment I just had chance to accept losses and have not reached to the point to be happy by making profits, for sure I also would be happy and will definitely express it here also, but unfortunately we going deep in losses week after week.

Again I would like to emphasize on the bad performance of Fxcomment since I joined them 6 weeks ago, and I am not seeing any good point upto now to change my mind. As I said, I would definitely highlight good points as well if I see any. As of now, this signal provider is not recommended from my point of view.

Regards,
Jamz

136

Hi,
I also joined them just recently, I saw so many good and positive comments about them and I thought to give this a try… but unfortunately their performance is not up to the expectation level yet.

However, I dont wanna call them terrible or horrible, because 4 or 5 weeks are not enough to conclude the things and this can always happen in forex. It’s more make sense to wait and see few more weeks and then decide to stay or leave.

137

Their website only showing 1 trade for last week on July 3rd -210 and then next trades weren’t until yesterday July 11th. Are some results missing from their website?

139

Been researching FXcomment and a few other signal services for a few months now, signed up on forums to find more info if they are legit or not. Seems like a good signal service thus far based on opinions and evaluations for a full time employed individual like me. Looking to hear more information on them in the coming weeks/months. Thanks Babypips forum.

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