noblefxtrading.com Review

Shocker: 800 pip drawdown in August. Signal messages and updates bacame sloppy, rules were changed without advance notice. I got the impression he panicked and wanted to make up relative small losses by taking large risky bets which turned sour. Now comes an explanation with his e-mail shown below. Can this be justified when subscribers put their money on the line?


Traders,

I want to take this time to explain the last few weeks and also to apologies for it.

A few weeks ago, I had a family situation and therefore wasn't able to trade every day.

I decided not to let you know and trusted a fellow trader/friend of mine to give out signals on the days that I couldn't be here.

Well I guess I was wrong and realize that I should have just told you guys and not sent any signals when I wasn't here.

I'm not saying that he is entirely responsible for the bad month, I had my share of losses too, but since he is using a slightly different approach and has higher SL and TP, you only need a few losers to bring the results down even faster.

I know he is a good trader and would probably make up for the loses over a period of an entire month, but I have decided to not use his help and rather take a break from trading until end of next week, so that I can take care of my personal problems without losing you more money.

I have also decided to change the time of signals from around 5 pm EST to around midnight, due to the changes I had in my personal life.

This will be the exact same system, which is based on the 5 pm close, but rather then setting a limit order and wait for the pullback, I will enter the trades mostly at market, after the pullbacks have happened.

So again, the system will be exactly the same in fact I might even be able to filter out some more bad trades, since I enter a few hours later.


I hope you'll accept my apology and will be getting back on track with me as of 8/31/08

Thanks for your understanding.

2008-07-25 5 Stars I hope and pray that this service will keep up with the performance shown during its short history. I say this because so many services start out great only to fall apart later on. I think I have reasons to be optimistic because this strategy is different from most of what I have experienced so far.

It is also such a relief to see a service which reports its performance daily, accurately and conservatively, by that I mean he reports a profit only if he is sure that most of the subscribers were reasonably able to achieve it.

It is hard to believe but my actual pip performance over the last 3 weeks was twice as much than what he reported. Part of this was pure luck because when he send the updates and closes out positions I am still asleep and that so far has worked in my favor.

Another thing which helped to improve the performance a little bit is that rather than moving the stop to break even when a certain goal is achieved I program my Interactive Brokers trading window so that it automatically converts the fixed stop to a trailing stop. That is the reason why I moved this account from Oanda to IB. Oanda used to be my favorite forex dealer but now since I got used to the somewhat convoluted forex record keeping at IB I have to give the advantage to IB. In addition, IB is a ECN whereas Oanda is still a dealer taking the other side of your trade even though supposedly fully automatically without human intervention. For managed accounts though, with the exception of spike news trading, Oanda in my opinion is still by far the best with the lowest spreads.

This guy (ernest)is the best. I never saw a trader like him before. Even he get losses he could easily come up with that. The main thing about his strategy is make consistent pips and very low drawdown that you could sleep without worrying. His style is for long term pipping and not killing your account. Keep it up ernest I'm ready to make more pips.

I joined Ernest 10 days ago and I have to say this service is very honest and promising. I've made over 500 pips in 10 days with a service that is very easy to follow. Looking forward to pip some more

Very impressive so far. My only complaint is that he trades some exotic pairs at times like aud/chf and eur/nzd for example. Many brokers don't offer this wide of a range for currencies so m results don't exactly match his but still profitable overall.

Just a little over two weeks and this service made me well over 700 pips with little draw downs. I'm putting a lot of hope in this service, just because this is the first time that I have actually made pips rather then lost them. Definitely 5 stars from me.

Ernest have a total new approach on his trading. His stops are way smaller than TP. I have subscribed to many signal providers before but his strategy is exceptional. His goals is to have consistent income and low drawdown. He also got free signals till July 15. BTW he made me 700+ pips already in 3 weeks

Ive just got an email from these guys and their trades looks very promising. They have free signals for a month. Their approach is easy to enter with limited drawdowns. I will keep all of you updated