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Discuss ForexSignals.com (Nick V. McDonald) (Formerly LiveForexTrading.info/.org)

General discussions of a financial company
Be very careful before you subscribe to any of these signals. You are more likely to lose lots of money than make it. Look carefully at the results a month by month and not the average return. Ask lots of people before you start.

The only person Making money here is Nick.

Look at FXAMP since June you would say not too bad I would still be up. No you would not. This is a demonstration account and you would not get as good results as him. It also does not show the loss from a big error in the system - many pips down. Many people turned the risk up for this trader and this many would say is their own fault. Look at the reasons why, Nick would advertise this signal as safe and reliable. It costs $99 per month so you either have a big account or you turn your risk up to cover the signal cost. Over many months Nick would say he will recover - donn’t worry. There is only one person who wins here - Nick

Mr Rigasory - lots of money lost!

Pings - after 5 and a half month 13.4% total nothing like the 15% per month he advertised at the start. Spend most of any month in draw down.

Trader Alerter - Everyone say he is great. 2 good months in 8. Since June, 1 month over 5% the rest under. Where is the 12.2% advertised?

Smart Trader - Made some people very angry. Nick did not advertised that this was a grid system until forced by a user. Only 1 month over advertised average since June.

FX Viper - You will make money but only if you have a big account or turn your risk way up. Very risky like AMP used to be. BIG floating draw down for just 4 or 5 pips win. If you don’t turn risk up or have big account you will not cover the subscription fee. Nick still make money from you.

Forex Junkie - lost everyones money when he was Ozpips now set to lose everyones money again. Irresposible of Nick to have him on the site, but Nick still make money when you lose.

FX Pendulum - Can see so many people angry because he goes on holiday for 1 month with huge floating draw down. Can see people complain that they still pay fees when he is away - Nick still make money from you.

Pipsopolis - You would be very lucky to have made money since June - Nick would have taken it in fees.

Silent Specialist - Yes this was a big risk - but account blown.


You can talk to some people on the chat room that have lost money. Ask the ones that have been on for some time not the new ones.

Nick will now go on his chat room and ask his followers to reply to this post with a positive tone. The positive remarks here will be because Nick has asked for them. I have seen him do it many times.

If you use these signals please make sure you check everything first, ask many people and read many posts.
 
Hey guys,

I'd pleased to announce that we've attracted Joel Kruger to our trading team!

Joel is an experienced institutional trader that many of you may remember from his days as an educator at DailyFX.

It's awesome to have such a capable and knowledgeable trader joining our team.

His trades are available to follow inside our live forex trading room.

To find out more about Joel please visit our site: Joel Kruger - Institutional Discretionary Trader
 
About Forexsignals

Be very careful before you subscribe to any of these signals. You are more likely to lose lots of money than make it. Look carefully at the results a month by month and not the average return. Ask lots of people before you start.

The only person Making money here is Nick.

Look at FXAMP since June you would say not too bad I would still be up. No you would not. This is a demonstration account and you would not get as good results as him. It also does not show the loss from a big error in the system - many pips down. Many people turned the risk up for this trader and this many would say is their own fault. Look at the reasons why, Nick would advertise this signal as safe and reliable. It costs $99 per month so you either have a big account or you turn your risk up to cover the signal cost. Over many months Nick would say he will recover - donn’t worry. There is only one person who wins here - Nick

Mr Rigasory - lots of money lost!

Pings - after 5 and a half month 13.4% total nothing like the 15% per month he advertised at the start. Spend most of any month in draw down.

Trader Alerter - Everyone say he is great. 2 good months in 8. Since June, 1 month over 5% the rest under. Where is the 12.2% advertised?

Smart Trader - Made some people very angry. Nick did not advertised that this was a grid system until forced by a user. Only 1 month over advertised average since June.

FX Viper - You will make money but only if you have a big account or turn your risk way up. Very risky like AMP used to be. BIG floating draw down for just 4 or 5 pips win. If you don’t turn risk up or have big account you will not cover the subscription fee. Nick still make money from you.

Forex Junkie - lost everyones money when he was Ozpips now set to lose everyones money again. Irresposible of Nick to have him on the site, but Nick still make money when you lose.

FX Pendulum - Can see so many people angry because he goes on holiday for 1 month with huge floating draw down. Can see people complain that they still pay fees when he is away - Nick still make money from you.

Pipsopolis - You would be very lucky to have made money since June - Nick would have taken it in fees.

Silent Specialist - Yes this was a big risk - but account blown.


You can talk to some people on the chat room that have lost money. Ask the ones that have been on for some time not the new ones.

Nick will now go on his chat room and ask his followers to reply to this post with a positive tone. The positive remarks here will be because Nick has asked for them. I have seen him do it many times.

If you use these signals please make sure you check everything first, ask many people and read many posts.

First of all, i am not involved in the Forexsignals site (formerly "LFT"). I think your harsh critizism does not reflect whats truth because as a paying customer i could say the truth lies in between and has nothing to do with your straight "in line" bad comments.

Well, the things i d critizise are more in detail as about the service in whole. Some of the trader names above are common to me, others not, but here are the ones i know about very good:

Smart Trader - This guy uses indeed some kind of grid, but it seems to work. Whats wrong with something which works out so far? We all know the risk involved in forex, so do you? I am using myself a grid system with my own analysis. It all depends on money management more than the fact which kind of "good" or "bad" system you like to use.

Viper - He is good, no matter what. His system indeed involves high risk and i am not take a good or bad note here, just the fact that high drawdowns for me either do not explain why he is taking just a few pips. However i did not faced a margin call or other bigger problems and it seems people are making money (even i dont like that "hype" done about this guy). But so far, it works out right? What works, makes profit and as long he is behaving like this, so what?

Forex Junkie - Formerly known as OzPips. I was testing his signals but they were very ineffecive for me. Nowadays he calls himself Mario Dra.... and posts in the forum or in chatroom. Not sure what this guy is about, but i just ignore his comments and thats the good part of the internet. If you dont like peoples comments, you will ignore them right? So again, whats the problem here?

Trade Alerter - Tested his signals. Not too good and not too bad though. He could do more precise analysis but so far he is making money and not burning accounts. So you see the clue?

Silent Specialist - I think everybody in the forum and i think half of the forex traders i know myself knowed about him. He was good at his time but had (IMHO) emotional trouble when this thing got too big for him. I lost money too but as with every trader on that side, i carefully inspect thier trades. Again, it is all about money management.

Joel Kruger - Tested his signal but this guy is really not for the short timers. I think if you like to invest in the long run, you will find his style pretty good since i am sure he knows what he is doing.

To conclude. All traders are more or less looking with thier own analysis and specific rulesets at the markets. I am not sure if i would take responsibility for other people´s money at all, but the fact that they do and have to take all "blamers" and other so called "investors" comments on thier shoulders let me guess they are worth beeing payed. At least we all use this site because we are lazy or unable to do it better, so thats a keypoint of signal trading. You do it better? Great! Go there and apply to be a trader. If you cant do better, it would be sufficient to mind your own business and let those people do thiers.

So far, i am not involved in that website nor do i know the owner, but what i certainly can say is that things are working the way which they are propagated. Its not all gold, its not all crap. I am sure everyone may find a trader which reflects his personal risk appetite and style. If not to forexsignals, i am sure somewhere else.

AL
 
Hi Al,

Good post mate, I would agree you need to find a signal that fits with your personality.

Many subs my style is boring and that i should change it to be more aggressive.

I let the subs increase the risk but continue to trade my tight style for the simple reason that it works. 17/18 months profitable.

Maybe its my poker background but i don't see the need for big risks when you get so many great opportunities just being patient.

Best Regards

TradeAlerter
 
Hi Al,

Good post mate, I would agree you need to find a signal that fits with your personality.

Many subs my style is boring and that i should change it to be more aggressive.

I let the subs increase the risk but continue to trade my tight style for the simple reason that it works. 17/18 months profitable.

Maybe its my poker background but i don't see the need for big risks when you get so many great opportunities just being patient.

Best Regards

TradeAlerter

Hello TA,

thanks for your input. I think there is nothing like a holy grail or a real "bad" system (even i think sometimes that Smart Trader is shooting too many bullets at once). I watched your trades and i think you are developing things for better in the long term since your % of positive trades increased imo.

I would not tend to ask you for change something in your style since it is consistent and profitable and as long something works out for good, there is no real need to change. Maybe sometimes you should go for a bit more pips at least. I see that all your trades got potential for better "rides". Personally i tend to go for 20-50 pips if market is providing it.

However i think you should not change your style or feel "nagged" by subs since i think you are consistent and thats doing much better than most people ever could in this fx game.

BTW. I like the idea to keep your risk tight. Its better to keep it safe over an increased or useless risk. I dont know much about poker, but i believe thats also somewhat a "game of propabilities" like fx right?

Best
Al
 
I paid for the subscription to smart trader and my membership was deleted they have just withdrawn $320 dollars from my account when I asked why I was being charged I was told that I was not member and the money was not withdrawn I have receipts for the withdrawal
I am a member of Nicks signal service yet when I try to sign in I am told that I need to pay $79 dollars a month to enter the trading room this used to be free now apart from paying for the signal service I have to pay Nick McDonald the $79 dollars a month for the trading room or I do not receive the signals I paid for
I rate nick McDonald and Joel kruger as parasites and thieves I guess if your signals only create losses you need to charge $79 dollars a month to make up for the losses so the members are paying for the losses that Nick McDonald makes
If you get $79 dollars from each member it is not hard to trade and make a profit
I have not received any emails from my emails I have sent in regard to this inquiry
 
There are many of these so called professional traders with subscription websites. If I could make the money that they supposedly can I can't imagine going to all this trouble to "share the love" to those plebs of us who are out here in struggling forex land. It just doesn't make sense.

But what if you could convince just 100 plebs to subscribe every month at $97, that would be a very nice fat 9.7 grand a month. Money for nothing and your chicks for free....

Trading, in my humble opinion, is potentially lucrative but incredibly difficult to do and nigh on impossible without a decent deposit to start out with.

Also, demo accounts are great, but make, make, make sure you initially set the opening balance to a realistic amount that will potentially mirror an eventual real life trading account opening balance.

Oh and the figure of 34% success rate in order to break even (no profit but no loss either) with a risk to profit ratio of 2:1 (TP twice the number of pips away from the opening price than the SL) is only true if the spread is next to nothing, i.e., about 0.2. As soon as the spread increases that figure starts rocketing (in a somewhat alarming fashion) upwards.
 
Hello dears,
I'm new to this site. Haven't really got a time or a chance to look at everything yet. But is there a site where we can see reviews of some good forex signal providers?
 
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