fxprosignalalert.com

[fxprophet]

Before you accuse people of lying check their results properly. On May 01 2009 there is a +3 pips result recorded.



Sure you have not: Year 2009: April 06 +12pips, June 03 +12pips, June 18 +12pips, September 30 +13pips. Year 2010: Feb 17 +14pips, March 11 +12pips, March 23 +9pips, March 29 +11pips.... and if you check further down you will find even more.

Next time do your homework before you make accusations.

Concerning the +3pips recorded, they said it was a mistake from the webmaster not have updated it right, as you could see on May 1, 2009 they gave a signal to buy EUR/USD @ 1.3272 and closed @ 1.3306 which was suppose to be +34 pips and they recorded +3 pips. But they changed their policy to +15pips in 2010.

 

[fxprophet]

Since they give clear instructions on how to use their signals, they have to follow them as well before publishing their results!!!
If they use different rules to show their results, it is called result manipulation!
If they clearly state that if a signal goes +15 pips is profit, then they advice to bring your SL to BE. The TP is still 40 and the signal turns against you at +39 and goes back to 0.
Your result is 0, but they will publish +39.
If this happens 10 times in 1 month, it means that their results will be 390 pips higher than yours!
Do you think that that is the correct way to publish results? I don't find that correct.

I know that they have some loyal customers and the fact that they have a live chat is really a plus. If you learn to get along with their signals, then you will be profitable, but you will never have the results that they are publishing.

Again i contacted them through their live support as regards to this issue, just like what i already expressed in my last post, you will never achieve the same results with any signal provider, for instance, a subscriber could decide to exit a trade at maybe +20 pips while another subscriber could decide to wait to exit a trade at +35-40 pips profit. At this point both subscribers had exited at different profit level and their is no way both subscribers would achieved same results. However, they told me that they are working out a plan to address this issue, as they have applied to a popular auto-trading service company to address those seeking to achieve same results with them.

Of course, i know they have some drawbacks just like every other

providers out there and that should not be translated as scam. They

have many satisfied customers and have positive ratings in some other

review websites as well. One thing is, try and ask them as many questions as you can and they will help you to understand how to use their signal better. And if you are not convinced you move on...it is that simple. I was refered to their service by one of their subscribers, so far it's been okay for me and i plan to pay for the full month subscription next.

Here is the trading instruction email, among others they sent to me at

the time of subscription:
------------------------------------------
From: Fx Pro Signal Alert <support@fxprosignalalert.com>Add

support@fxprosignalalert.com to my Address Book
To: ........@hotmail.comAdd to my Address Book
Subject: Pips Calculation
Hello,
Maximum profit is the highest (for buys) or lowest (for shorts) price
reached prior to our close of the trade that is equal to 15 pips or
higher than 15 pips. Note, we do not consider less than 15 pips as a
result. If a trade moved +14 pips and not up to +15 pips before
reversing back to stop loss is a failure to us and will be recorded as
lost trade. For example, you received a trade signal and the trade
moved more than +15 pips before reversing back to stop loss, then the
maximum profit which is the high of that trade will be recorded as profit.

Best Regards,
Fx Pro Signal Team

Now with this in mind, I have set daily pips target for myself and know when to exit trade without being greedy. On the other hand, I 've asked them to come here [FPA] to help people understand better.

 

[fxprophet]

Concerning the +3pips recorded, they said it was a mistake from the webmaster's failure toupdate it right. As you could see on May 1, 2009 they gave a signal to buy EUR/USD @ 1.3272 and closed @ 1.3306 which was supposed to be +34 pips and they recorded +3 pips.

They changed that to minimum +15 in 2010.

they said they changed their policy to +15pips in 2010.

 

[Black Bird]

"Quote:
Originally Posted by Black Bird
They changed that to minimum +15 in 2010."

It is f-man who posted that NOT me.

 

[Black Bird]

Hey f-man,

after analysing their 20 past trades I derived with a formula, which in the long run would generate profit - providing their success rate remains the same:

First you have to trade at least 2 lots, say 2 x 10,000 lots. Close the first lot after 15pips or trail your sl (to +15 pips) and let the second lot run - do NOT move the sl. If the second lot turns around and hits the sl you will only lose 15 pips but if it hits the tp you will gain +40 pips and +15 (from 1st lot) = 55 pips. Of course the price could turn around before it hits 15 pips and close at the sl but because of the risk/reward ratio and the overall success rate you should, eventually, end up with profit.

I have few more days before the end of my subscription so I'll be using my formula. I used it today on the Buy £ / $ signal, they sent, and it worked out very well.

If my formula ends in a failure I'll let you know if you are interested of course.

 

[f-man]

Hey f-man,

after analysing their 20 past trades I derived with a formula, which in the long run would generate profit - providing their success rate remains the same:

First you have to trade at least 2 lots, say 2 x 10,000 lots. Close the first lot after 15pips or trail your sl (to +15 pips) and let the second lot run - do NOT move the sl. If the second lot turns around and hits the sl you will only lose 15 pips but if it hits the tp you will gain +40 pips and +15 (from 1st lot) = 55 pips. Of course the price could turn around before it hits 15 pips and close at the sl but because of the risk/reward ratio and the overall success rate you should, eventually, end up with profit.

I have few more days before the end of my subscription so I'll be using my formula. I used it today on the Buy £ / $ signal, they sent, and it worked out very well.

If my formula ends in a failure I'll let you know if you are interested of course.

I had calculated that if you would exit the trade at +30 pips, you have the highest possible gain by their signals, but again this was a statistical calculation but never tested. The other issue with them is also the price. In comparison with other signal providers, they are quite expensive.

fxprophet said they are looking to provide autotrading with their signals. That would be more of interest for me, because I am not all the time in front of the computer.

Last but not least is the timing of the signals. I prefer to receive signals with some time ahead and insert them as pending orders, instead of live.

 

[Black Bird]

I had calculated that if you would exit the trade at +30 pips, you have the highest possible gain by their signals, but again this was a statistical calculation but never tested. The other issue with them is also the price. In comparison with other signal providers, they are quite expensive.

fxprophet said they are looking to provide autotrading with their signals. That would be more of interest for me, because I am not all the time in front of the computer.

Last but not least is the timing of the signals. I prefer to receive signals with some time ahead and insert them as pending orders, instead of live.

I had another success today on a Long signal: EUR / US. I calculated that if you place 3 lots and close the first lot at 15 - 20pips and then let the other 2 lots run - without moving the sl - it works out better; still working on better formulas.

I agree, by the time you receive the signals they already hit the Entry so you lose few pips. Usually there is a retracement but better not take the chance.

I'm experimenting now with "PendingPips.com" on my Demo - they gave me 2 weeks free trial NO CC required. Just email them to get your 2 free weeks. They are only half the price of fxpro but the thing I don't like is that they have 1 sl and 3 tp levels, which on some trades it works out as a 4 : 3 risk / reward ratio - I posted a review on them few months ago. One thing that I like is that you receive the signals before they hit the entry. However, as it is free there is nothing to lose.

Good luck

 

[Black Bird]

I had another success today on a Long signal: EUR / US. I calculated that if you place 3 lots and close the first lot at 15 - 20pips and then let the other 2 lots run - without moving the sl - it works out better; still working on better formulas.

I agree, by the time you receive the signals they already hit the Entry so you lose few pips. Usually there is a retracement but better not take the chance.

Hmmm.......... someone pointed out to me that he already tried this and it is not worth it, for every time the price turns against you before it hits 40 pips the result is negative. I have done the calculations again and even though I end up in profit, after a large sample of trades, the profit is less than the subscription fees. If you take into consideration the pips you lose when you miss the Entry it gets even worse.

I better dump these guys. Sorry if I mislead you. :unhappy:

 

[f-man]

I had another success today on a Long signal: EUR / US. I calculated that if you place 3 lots and close the first lot at 15 - 20pips and then let the other 2 lots run - without moving the sl - it works out better; still working on better formulas.

I agree, by the time you receive the signals they already hit the Entry so you lose few pips. Usually there is a retracement but better not take the chance.

I'm experimenting now with "PendingPips.com" on my Demo - they gave me 2 weeks free trial NO CC required. Just email them to get your 2 free weeks. They are only half the price of fxpro but the thing I don't like is that they have 1 sl and 3 tp levels, which on some trades it works out as a 4 : 3 risk / reward ratio - I posted a review on them few months ago. One thing that I like is that you receive the signals before they hit the entry. However, as it is free there is nothing to lose.

Good luck

Thanks for the info on pendingpips. Let me know the results, once your 2 weeks are over. For me, honesty counts at most. If the results they publish are true, then I like them! If they invent ways to show different results than mine, I can not aprove it and support them.
I am live trading the signals of www.vantage-fx.com since the beginning of this month. They send the signals a few pips before (Sometimes even 30 pips before) it hits the entry level and they will update you on every signal. Results are 100% identical to them!!!!
The price is almost at the level of fxpro, but it worths every penny!

 

[fxprophet]

Hmmm.......... someone pointed out to me that he already tried this and it is not worth it, for every time the price turns against you before it hits 40 pips the result is negative. I have done the calculations again and even though I end up in profit, after a large sample of trades, the profit is less than the subscription fees. If you take into consideration the pips you lose when you miss the Entry it gets even worse.

I better dump these guys. Sorry if I mislead you. :unhappy:

Just like the AssModerator here pointed out, "....Some people really will hate something that you love. Other people may love something that you hate. Good companies will sometimes make some people angry. Bad companies can sometimes make a few customers happy".

I think it's a thing of choice here, if you are not satisfied with your results with them you move on. While others are happy and you are not, is entirely your choice. There are over 1001 signal providers in the world. As for me, am fine with the overall profit with them and by the time they combine the signals with auto-trade system that they are about to launch, it could be more better. Goodluck.