1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Beware http://www.profitforexsignals.com/

Discussion in 'Scam Alerts' started by dewjefx, Nov 9, 2012.

  1. fxeasy75

    fxeasy75 Private, 1st Class

    Joined:
    Oct 22, 2012
    Messages:
    63
    Likes Received:
    8
    Official Trade Log

    11/Mar, Buy AUDUSD +55pips
    12/Mar, Buy GBPUSD +17pips
    12/Mar, Buy USDJPY +27pips
    12/Mar, Buy EURJPY + 20pips
    ==================================================================================================================================
    PS: I am now starting an official trade log of all trades taken with ProfitForexSignals via email and the actual trade results. There are some "factual" errors on MY side, not PFS. I dont usually read mail on the dot when they are sent, since I have a phone that has no subscription to internet, thus when I walked away from my PC and the signals were sent, I may be late in getting into the trade, but I had placed a market order and exit the trade per their advice of pip stops. I made a mistake with the GBPUSD trade, and exited at 15pips instead of 17pips (LOL!). The fact that I entered at a more unfavourable price and exited at SAME pip count using same pip SL, its truly a GOOD (extreme) test of how good the signals are.

    Eg (Signals) EP for GBPUSD was 1.4853, my EP=1.48869. The signals sent were:
    Buy GBPUSD, 1.4853, SL= -40pips, Tp=50pips. There was a revision email to exit this at 1.4870 thus 17pips. So my entry was: (my original tp was 70pips from 1.48869, then revised to 15pips exit)
    Buy GBPUSD (market rate) 1.48869, SL=1.48469 (-40pips), TP=1.49019=15pips.

    As I mentioned this was MY mistake not PFS that I somehow dropped my "contacts" and read 17pips as 15pips! As you can appreciate from above, despite the late entry, I went pip for pip in terms of SL and TP and if u are doing the calculation, this GBPUSD trade was exited at 1.4870 yet I exited 1.49019 and still hit the recommended "wrongly placed" TP levels! If this is not such a good signals, it would have turn against me and it would have hit SL!

    To be fair to PFS, I went back to the chart and calculate the GMT offset. Here's the logic I used (all times used here are example only not real):
    Eg Entry of GBPUSD mail was rc'd at 6.22pm (PC time) I am GMT+8
    Broker server time=GMT+3, thus look at the 1pm hr chart of GBPUSD. The range of that candle has to accomodate 1.4853, that is (since its a buy), the lowest >=1.4853 this indicates the trade did hit this EP
    Entry of revision to exit at 1.4870 sent at 8.43pm (PC time)
    Thus look at 3pm candle lowest >1.4813 (the original -40pips SL) & lowest to highest range >=1.4870. This meant when the trade was in play, the SL was NEVER hit and the TP was hit

    Its possible to download 1min data from metaquote for ALL currencies (based on PFS) signals to your MT4, but this may take upto 1-2hrs for EVERY currency pair that PFS traded. You just set the bars to the highest value in MT4 in order to download it, and make sure u got the patience + hard disk space. I dont do rocket science and in order not to confuse myself, I used 1hr chart and a "fair, reasonable, mathematically logical" analysis of prices accordance to time mail was rec'd to trace back to whether the TP was hit as well as take note that SL was not hit
    =================================================================================================================================
    ALL the above trade logs used PFS ep and PFS advise TP stop levels, not my actual trades, since I am a lousy time mgt person for not sitting at my pc and reading mails on time to react to the signals. DESPITE this, all the trades (except for AUDUSD) were entered at whatever market rate, used that exact SL pip count to enter the stops based on that market rate of entry as well as exact pip count for TP based on the original signals (if there is no update) or the revised TP pip for pip!
    =================================================================================================================================
    Pls look out for more updates as it goes! It does not mean that u shld take up PFS services, as I really dont know whats happening to their trade copier which started this original scam alert. In order not to get "stoned" by FPA members, I decided to only focus on my trade logs vs PFS signals. What you decide is for you to know and its your own choice. In later "series" I will just placed down the dates and trade logs and wont go into explanation again rgds how I trace back the trade to "verify" the tp issued by PFS. Unfortunately PFS did not allow me to access members area so I cant say whether there was an actual trade log that PFS kept in members area or not and whether PFS was honest with their result reporting. I am not here to judge PFS honesty since there is no proper way for me to judge, rather just to report their signals vs my MT4 results, remember its PIP for PIP in regards to SL and TP, DESPITE whatever market rate I entered

    See you soon.
     
  2. EnlOOow

    EnlOOow Recruit

    Joined:
    Mar 11, 2013
    Messages:
    1
    Likes Received:
    0
    The FB link you posted isn't working.
     
  3. fxeasy75

    fxeasy75 Private, 1st Class

    Joined:
    Oct 22, 2012
    Messages:
    63
    Likes Received:
    8
    PFS Results

    13/Mar, Buy EURJPY -9pips
    * I got in later for this trade but exited immediately when the mail for exit was sent at +3.4pips. I could not exit at the exit price as my EP was past that
    13/Mar, Sell Gold +12pips
    13/Mar, Buy USDJPY +21pips
    13/Mar, Buy EURJPY -35pips
    13/Mar, Buy USDJPY +34pips
    13/Mar, Buy EURUSD -35pips
    14/Mar, Buy Gold +30.7pips
    * I didnt managed to enter this Gold transaction (14/Mar) as the mail was rec'd at 12.26am (my time)
    ========================================================================
    So far his reporting has been correct. He need to calm down and read mails and dont read nasty things into whats not there. Eg for the USDJPY trade, ep=95.74, exit=96.08=34pips. The mail I rec'd was exit at 96.08, +36pips. So I sent him a mail
    "Hi,

    For USDJPY EP=95.74, thus exit at 96.08=34pips, not 36pips"

    His reply was "Just for the 2 pips diffrents you are complaining ?"​

    I admit that sometimes I do mis-interpret things, but he has to differentiate between a polite mail to inform him of calculation error and an actual complaint. Here I do sincerely apologise if he felt that I am pointing out small errors to him. OK from now now if the difference is within 5pips, I will not do so. I just felt that its impt for him to actually keep an accurate trade log so that he could ALWAYS back up his claim regards his services with this. Preferably the trade log is not just in the form of signals sent but via a LIVE myfxbook verified account of these trades.
    =========================================================================
    I felt that whatever the case, he MUST learn to communicate properly and explain and proved his case. I can see for myself that the signals services is quite upto par so far. I dont doubt that he has many happy customers if this is the case going forward. If he can calm down and start to treat customers with respect (even the ones that dissed him), then I believe we should give him a chance. As far as I knew FPA has ALWAYS been fair and even more than tolerant towards "naughty" listed persons/organisations. FPA is ALWAYS willing to listen and review evidence as presented by both parties. FPA also DOES NOT tolerant x-rated language and bad behaviour. I can understand that he is very angry coz he felt that customers are dissing him unfairly. Whether its fair or not, evidence always is the best tool against or for him.

    I hope to report fair/good results in this log and at the end of 15days trial, LET the results speak for themselves. But he has to also change his customer service attitude. I will invite him to speak to us again after the 15days trial, whether he felt the need to again try to convince us in a calm, tolerant level is upto him. If he is able to explain and prove his point then FPA administrator will surely review his plea to be "reinstated" and placed on the "nice" list
     
  4. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,679
    Likes Received:
    2,229
    I'm sure if he can learn to act civilized, he could apply for reinstatement.

    He's also going to also need to learn to report trade results accurately and to make quick corrections if errors are spotted. A 2 pips error one time could be a simple typing mistake, but it casts a shadow of doubt on the accuracy of all other reports.
     
  5. fxeasy75

    fxeasy75 Private, 1st Class

    Joined:
    Oct 22, 2012
    Messages:
    63
    Likes Received:
    8
    14/3, Buy CHFJPY= -35pips
    14/3, Buy EURJPY= +3pips
    14/3, Sell EURUSD= -35pips
    14/3, Buy EURJPY= ???
    The ep for this trade was 124.67, the exit email sent was exit at 124.64, +15pips, here's the email
    ===========================================================================
    Profit Forex 10:29 PM (12 hours ago)
    Position BUY Pair : EUR/JPY Open : 124.67 T/P : +70 PIPS S/L : -35 PIPS
    ===========================================================================
    Profit Forex 11:05 PM (11 hours ago)
    CLOSED ORDER EUR/JPY @ 124.64 Profit : +15 Pips
    ===========================================================================
    Here's my reply to this:
    ============================================================================
    Hi

    EURJPY buy at 124.67 and exit at 124.64 thats a loss of 3pips. Do you mean exit at +15pips, @124.82?
    =============================================================================

    I have not gotten his reply but I entered at 124.795 and exit at 124.945=15pips.
    Here's some observation, due to differences in price feeds, yesterday I was literally glued to my PC and the moment I rec'd the email, I opened a market order. Even when I rec'd the mail with a 6mins response time, the price may have moved beyond the EP. Thus, I am now entering market rate the moment the open trade mail was rec'd and exit at either the exact SL (based on my market rate and their given SL pips level) or if revised mail was rec'd, exit at market rate. But I still reported based on this exit price since its fair to say that the difference would have been easily obtained if I had placed a TP at that exact point, based on chart back tracing.

    Even though I am using a DEMO acct, my is an ECN and is still most of the times near impossible to placed at exact prices due to fast, aggressive movements esp the signals were sent during Euro session (ie from abt 4/5pm to 10/11pm Singapore time, or abt 8am-3pm London). Some brokerages also enforced rules that TP or SL must be at least 5pips or whatever away from market price. Although ECN accts may not be so affected, but in reality, market just wont accept this pricing levels as it could be deem as manipulating the rates to get a better rate (by the broker or bankers or even traders)

    Its also not make easy as most of his signals may closed within 1hr. There was a EURUSD trade which I missed by 1hr and when I actually wanted to see whether I could get in, the revised mail was sent to closed at loss of -35pips, whilst I had to cancel my pending order and didnt lost anything. (Demo acct losses are paper losses anyways, but if this were real acct, a cancelled pending order is still no lost/no gains)
    =============================================================================================
    My Notes to myself:
    I am getting sleep deprived and trading high tension all over again. I used to self trade from 7pm to 2-3am Singapore time (from 2008-2009) as I used to be more aggressive and since I was quite blanks at that point, I used whatever time in between to read articles, practice chart reading etc. I have gotten away from all that since until I was gung-ho to try his challenge. Ah, (sigh) since I promised, I must now complete my 15days trial by trading "hypertension" exercise. The need to stay glued to emails is impt esp when trade copier is not available. NEVER again will I do so to myself! Didnt I just got very "famous" with the Arbitrage case?
    Anyone offering free conversion from human woman to wonder woman? I will be your lab rat!
     
  6. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,679
    Likes Received:
    2,229
    As much as everyone here appreciates the detailed analysis of the trades, please don't kill yourself for it.
     
  7. fxeasy75

    fxeasy75 Private, 1st Class

    Joined:
    Oct 22, 2012
    Messages:
    63
    Likes Received:
    8
    Hi all,

    I have not rec'd any signals from 15 till today. The EURJPY trade on 14/Mar/2013, had a typo (calculation) error (of exit price level but exit pips was +15pips) by the provider in the exit email. Since I did exit at +15pips, it will be recorded as +15pips. The total from 11/Mar to 14/Mar was +85.7pips
    ===================================================================================
    Here's my personal note:
    1) He boasted that he will send any FPA members a 1mth free trial to validate his signals services. He changed this to 15days trial for me. (He boasted at least 2-3x here in FPA forum)
    2) Although its entirely possible there are no valid trade signals since 15Mar (and some providers avoid Friday trading), it does looks as if my free trial is over (thats why the late posting, coz I was waiting for those signals)
    3) Based on 1 week trading results, from 11/Mar to 14/Mar (assuming that the provider does not want to trade Friday, which is 15Mar), its acceptable, although its difficult to be definitive.
    4) He has not replied to my email regards the typo (calculation) for EURJPY. :confused:

    I would not pass a verdict, but you can decide for yourself whether to trust this service
    ===================================================================================
    This concludes my trading log (unless I start receiving signals from this provider again) Adios!
    My personal choice would be to source for reputable provider that is more communicative and less combative
     
  8. Pharaoh

    Pharaoh Colonel

    Joined:
    Oct 3, 2007
    Messages:
    19,679
    Likes Received:
    2,229
    Tempting though the initial results are, the rude attitude and the shift from 30 days to 15 is enough to make me take a pass on this one.

    Thanks for all the info!
     
  9. fxeasy75

    fxeasy75 Private, 1st Class

    Joined:
    Oct 22, 2012
    Messages:
    63
    Likes Received:
    8
    Hi Pharaoh

    What is implied on my logs is also the fact that there were no signals sent after 14/Mar, which meant an effective SEVEN days trial. (assuming that there was no signal on Friday and the calculation based in calendar days NOT trading days, since any subscription used this to calculate a subscription period).
    Even if he is a super nice guy, I agree with you regards his changing his tune. He did not fulfilled his own boast/promises and its kinda of disturbing what else he could promised/boast and yet not fulfilled?

    PS: Its really that hard to find a good signal provider, so far myfxpedia has yet to disappoint me, and hopefully they stayed this way. I rather had lesser pips, slow growth than losses any time.
     
  10. xannax

    xannax Recruit

    Joined:
    Jun 5, 2013
    Messages:
    2
    Likes Received:
    0
    Hi! My name is Anna and I wanted to ask all Profitforexsignals.com customers who lost their money to contact me on my email: anna.cc@live.com.
    This guy has lost a lot of my money and I am not going to give up. His name is Mr. Khaled (probably Irman Khaled). I have paid him using Moneybookers so it is very easy to catch him.
    Even if I lose my money, I dont want him to run his business any more. Even if he has already shut his web site and his Facebook page, I am sure he is gonna come back, cause it is the only job he can do. Lets all unite against him. I am going to open a case with all his emails and Skype chat and the proof of my payments. Please contact me: anna.cc@live.com

    Best regards,
    Anna C.
     

Share This Page