Fxcomment signal service discussion

there is no such thing as forex signals its an enegma its all maths,

Current week updates:

2 Positions are in market now (NZDUSD and EURGBP).

Gone a bit quiet, still using them?

Ouch! You got my sympathy there

[QUOTE=hellofx2000;781347]NZDUSD Hit SL

I don’t see any reason to be short NZDUSD, this pair has been in an uptrend since mid January and has add 1000 pips during that time

@Dennis3450 I don’t want to count this as a defnse, but you talk here about monthly. I do believe that one can take a considerable corrections.

Same Pair


The second thing which I didn’t understand was that, RBNZ: PROJECTIONS INDICATE FURTHER EASING WILL BE REQUIRED !!!

So until when it can go? For me, I’ll try to catch a good level to sell again :slight_smile:

Actually this is my second month with them. Last month I couldn’t manage to recover the subscription fee.
This month my subscription is valid until end of this week and yet to recover the fee as well, I really hope some miracle can happen until end of this week.

My total pips earned since my joining date is almost -200 pips, excluding the current open positions, I should make like almost +250 pips within today & tomorrow to be at break-even.

Sorry to be the bearer of bad news, but it doesn’t actually [I]matter[/I], Captain.

There are thousands of signal-providers “out there” (and unfortunately quite a few “in here” as well!), and given the huge number of them, there will obviously always be some who have a decent, profitable history for (say) 6 months, just by chance, but the [U]point[/U] is that there’s actually no logical or statistical reason to imagine that they’ll also be the ones any more likely to be profitable over the [B][U]next[/U][/B] 6 months. Which is, of course, what actually matters if you’re thinking of subscribing to one.

It’s just random.

People like to imagine that “surely” one with a good history is more likely to have a better future, but [I]it isn’t actually so at all[/I].

That’s just like imagining that a “managed fund” with a good history of trading on the stock exchange one year is more likely than average to make profits in the next year, but there’s an overwhelming panoply of evidence to prove that that just isn’t so: they’re no more or less likely than average, overall, to be profitable going forward.

Key concept: if someone actually had a genuinely profitable “signal service”, they’d be raising capital to trade it successfully themselves (which is very easily done, these days, through businesses like TST and their competitors) rather than selling it to subscribers for $29.99 per month, or whatever.

It’s a lovely dream, to imagine that one can somehow identify a profitable signal service and then steadily make money over the long term, just by subscribing to it, with nothing else to do but duplicate the trades, but it doesn’t happen on this planet and [I]there are reasons for that[/I].

Do you mean they said go LONG GbpJpy? I’d be amazed anyone is LONG Gbp/Anything, not with another rate cut on the way and possibly even more QE

@Pointless…There was +100 in GBPJPY. The problem now in my point of view is in USDJPY not GBP. Makret looks crazy before the weekly closing because I see Stocks up right now despite bad release. so JPY should be sold off strongly.

I’m sad becasue we turned negative after being in green since yesterday evening. :31:

Lexy just hit the nail on the head. Any signal provider if they are any good at all and not a scam have a few different trader with different methods. Some will work and some wont trouble is try to guess which one is right is impossible unless you do your own analysis which at that point you might as well do your own trading. This reason is also why my 401K at work does well. About once a quarter I will move my money around to under performing funds. Everyone at my job thinks I am nuts (which they are probably right) “oh way would you remove your money from X fund that has done so well for so long?” my answer is because its cheap. Then like clock work that fund doing so great starts to tank at the close of the quarter and the under performing funds start to pick up. Sometimes they dont but most of the time thats the way it works.

My point is there is no way of knowing what signal provider will be profitable in the market this next month. From what I typically see a signal provider may be doing very well but as his client list grows so does there pressure to perform better than last month. Then as with anything you try to over do a good thing it will break. Then as soon as the provider has a bad month well he now has a large list of mad clients that are complaining about why they are paying to loose money which puts more pressure on them to recoupe the losses and get back in profits causing what I see so many time with signal providers and some wannabe signal providers on here they never close a trade so they never record a loss. But that has terrible results everytime and ends in failure and if you followed because they were profitable then your account is also bust.

Nice results. It sure would be nice if they offered a trade copier option with their service. It would just make things a little more automated.

@Carlos Ray GBP bought against all currencies even before today’s impressive data :slight_smile: GBPJPY 137 :slight_smile: This is the FX my friend

I thought you closed this trade for a loss 2 weeks ago?

@Carlos Ray yeah, but I m talking about your idea itself- no buying for Sterling- that means, they caught the reversal, while the entry wasnt good. However, last month was very profitable with them actually.

Hello all, missed you :slight_smile: It was a long vacation.

Where are you ??

Hey buddy… hows it going?
Looks like AUDUSD NZDUSD going south again :frowning:
What do you think?
Most of my indicators say BUY on them.

Hey @JoseAlbino, actually I forgot about AUDUSD becasue it is secured with stop loss in entry according to their updates which were sent yesterday.

But, if it doesn’t hit this level, I think 0.7420 is on the way; accordingly, NZDUSD will follow.

Waiting for few days finally paid off, closed 3 trades with 200+ pips.
And also Almost +100 pips floating

Hey would you still recommend these services for signals? Thanks