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Lincoln FX

Discussion in 'Has anyone heard of?' started by Kittu, Nov 23, 2009.

  1. Kittu

    Kittu Recruit

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  2. kenayi22

    kenayi22 Recruit

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    Its hard to tell if lincolnfx moderator (Arco) is actually a trader or just an analyst. He sends trading alert to members between 5:00-5:30 GMT. here is a typical example of his daily alert:

    "Nzd.Usd - Down move was delayed with a retracement off the Chikou 7185-7193, which may be forming the leg 3 that I was looking at last week to create the daily 123 pattern against/around the .7392 high. Watching for a potential 123 to confirm against/around Chikou resistance zone 7307-7343 (also checking for mini 123 on 4H). Large fall to 4H Kijun occurred after the 1045am employment figures announcement, so this may be creating the potential turnaround discussed. Prefer 4H 123 to confirm against the Chikou resistance .7343"

    He basically shares his opinion of mkt condition and suggest which way it may go, but identifying 123 pattern on a live chart can be very challenging for some traders. Hence would not recommend this service for traders looking for a professional trader to follow as it is hard to tell whether or not he is actually trading himself.
     
  3. jtl001

    jtl001 Recruit

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    lincolnfx Review

    I posted a unbiased review on different review sites and none of them show up in search results anymore. I expect they were paid to remove my review of lincolnfx. I do not know.

    The post below was my response to support when asked why i canceled my subscription. You will see trading psychology elements as well as key things overlooked in most people's trading business (assuming all are treating trading with caution rather than carelessness)

    lincolnfx emailed reply:

    I'm honored you asked the reason I'm canceling. I have been trading for 3 years and generate consistent results when focusing on no more than two pairs. In the time that I have been trading I've found money management and trade management techniques with each entry idea extremely important.

    Anyone (and many do for free) offer trade ideas to the tune of “price appears to be holding at kumo”, “123 pattern confirmed” "upwards bias" etc and when prices rally and trader makes money the signal provider takes credit. With no entry and exit prices there is no accountability on trade ideas.....every week will be “xxxx number of pips available for gain.” Every week will be “A green week again.”

    Yet in actuality losses could have been taken from the trade ideas. Prime example was the AUDNZD trade I questioned arco about. At the post of the confirmation of support, after making reference to looking for the price move to support and back up to confirm the continuation of the long trend,....and purple trace drawn,.....prices fell 200 pips. This trade did not continue the purple trace suggestion which was to continue up after moving off support. The end of week review continued as usual “green week again” and did not note the available loss.

    My reason for subscribing to a signal service was to improve on my already profitable trading. In order for this to happen the signal provider must offer profitable signals for pairs I do not trade and not be correlated with the pairs I trade (which you do), and trade management down to the entry and exit must accompany them (which you do not do). Without this there is no accountability or better yet concrete evidence to justify paying for the service. If I see the kumo, choose the entry and exit, it was my money management that generated profitable results. There are free trade ideas all over the place. Everyone's posting results when things move clearly inline with there ideas, and hiding (or not recording and taking credit) when things don't.

    I have learned that finding good trade ideas is not the battle in this business. It's trade management. Example: If 123's confirmed and kumos holding support Enter 1.3550, max SL 1.3500, first TP suggestion, second TP suggestion, max hold time, etc. The traders who subscribe to your service and are profiting are doing so because they are already profitable traders.

    They know good trade management to apply to any trade. They can manage x number of trade ideas well and after that will not generate more profitable results (results may suffer from excess work load). Unless accompanied with profitable ideas not included or correlated with there portfolio that fully include the idea and trade management the trader can setup and see what happens. Almost like having another trader help grow your account. Otherwise the traders results will not increase beyond the number of trade ideas they can fully manage on there own.

    Like myself, my gains this month and last month are from my trade plan, i don't trade kumo so when evaluating entry and exit based off your purple trace I'm doing it on pairs I don't already trade and increasing the trade management analysis i have to do because you don't offer entry, exit prices which takes away accountability on your value. I'm already peaked at trade management on two pairs based on my own style of trading.....any more and my results suffer (unless the extra ideas include management prices...see below).

    The loosing traders who are subscribing to your service will likely (over the long run if they haven't figured it out already) continue to loose (there's evidence for this just reading some of the post) until they figure out good trade management to apply to each trade idea. At that point they will not need your service (the way it's currently provided) to continue to be profitable. They will have there own max number of trade ideas they can manage profitably. Finding ideas will not be a problem.

    The people you think don't fit into these categories will fall into one or the other over the long run.
    This trader clearly doesn't understand there is no oracle so great that you can trade long-term without money management (from one of your testimony pages):
    “Satish from India : @ arco and to the team .. i love u all muahhhhhhh wanted to buy an new macbook pro.. went all in with 2000 usd.. i short from yes.. @ 6740.. raised more.. short again @ 6720.. closing all now..6543 … wooooh way to goo… thanks..:)

    Or the trader from the first Lincoln FX marketing page (which has been removed) I saw that said there was a subscriber who turned a few hundred dollars into many thousand dollars after only 4 weeks. This is very possible....yet not with your ideas of “kumo holding at support” alone. This trader did so by there own skill or by luck. Future results will reveal this with consistency profitable (give a little, take more) or unprofitable (give a little, give a little more).

    As it stands this service weekly results are posted as if you provide ideas people can't ever loose from......each weeks record I've seen says “green week again” yet since I've been a member I see prices do not move the way every purple trace is drawn. Those trades that don't follow trace ideas get omitted in the weeks results. It's not enough to say "it's impossible to catch all these pips." Please!.... prices moved up and down more than 1500 pips last week even on your purple trace ideas. Your still giving the impression that with your service you cannot loose. With no entry and exit's it's even easier to avoid accountability for your service and market the way you do.

    I'm sure there are many new traders thinking they are doing something wrong when they have a loosing week while subscribed to your service. The problem is they don't realize there is no shortage of ideas just like there is no shortage of houses to buy. Without the ability to evaluate when to hold and when to fold you will loose. Ask the person buying a house at the peak in Orange County CA who thought it was a steal when compared to the comps around when they bought.....1 year later 30% equity underwater.

    People don't need anyone's help finding ideas. Flip to CNN, MSNBC, Bloomberg TV for free to get 100s each week. All the recent EUR and GBP ideas on bloomberg and MSNBC last week were EXTREMELY profitable just trading the direction suggested. Without the trade management skill you will loose no matter how many ideas are put in front of you unless the ideas include when to hold and when to fold.

    So again, In order for this to be useful to me (or any other trader who trades for a living) in the long run it must offer profitable signals for pairs I do not trade (which you do), and trade management down to the entry and exit must accompany them (which you do not do). Without this there is no accountability or better yet concrete evidence to justify paying for the service.

    At this point all I have is evidence to support the fact that my results will not get better simply by seeing more ideas outside what I already trade. I must have ideas fully included with trade management so it is more like an addition to my trading abilities, and not an addition to my idea management analysis workload. Until i find that, I will be back to risking more per trade (of course never more than my max loss limits allow) to increase my monthly profits.
     
  4. arco

    arco Recruit

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    Hello Everyone.

    I am Arco of Lincoln FX

    I don't know which review site jtl001 is specifically talking about but for the record. We have never paid and never will pay for anyone to delete reviews about Lincoln FX.

    I personally started trading in 1984 and my main income is derived from trading.
    Over a 10 year period I gave totally free signals on various forums - check sharetrader.co.nz (over 6500 posts), Aussiestockforums.com.au, FXCM, Khalsapad, etc, etc.

    We have many traders who are successful using our service, and we receive many comments each week from delighted subscribers.

    Examples of some comments in the last 2 weeks.

    ……………….Thanks for the pips big boy. Lovely shorts eur/usd, aud/usd and djia. Out for a rest. Bought a new computer with your money today by the way…

    …………………Usd.Cad Locked in 80 pips and left it running

    …………………went short with a pending order at 1.2873, and woke up this morning to another positive outcome. Many thanks Arco

    ………………..Great job you are doing! I really enjoy following your work. Very impressive!

    ……………Hi Arco, I’ve shut up shop for the week having banked 1078 pips – sensational!….Mark

    ……………Fantastic Mark. I’ve only done half that! +568 pips

    ……………My thanks Arco. Great week for me +667 pips with your guidance.

    ……………Arco, your predictions are amazing!

    ……………I’ll say again. I don’t know how people cant read Arco’s posts …and not make some good coin. Great stuff.

    …………….all trades hit targets, total for the week is 492 Pips.

    ……………..Sweet. I just watch Arco’s DJIA chart for major turns

    .
     

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