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Paul Bratby
Updated: Jan 10, 2024
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Feb 4, 2020,
Registered user

Indicators that don't produce for Forex

Service use: Live Length of use: 0-3 Months
I purchased the Roller coaster indicator, the Elliot Wave indicator and even splurged on his 60 dollar a year, 5K Club.

The logo on the website reads "W5T TradeTheFifth, Perfect For Swing Trading, Stocks, Forex & Futures." So in my mind, they traded everything.

My first problem was getting the indicator on additional Trading View charts. When I sent an email to W5T aka Trade the Fifth, I was told it was a Trading View problem. I sent an email (on file) to Trading View. I was told it was impossible to be a Trading View issue, but needed to be addressed with the vendor. So this was my first introduction. The blame game. And the company didnt show interest in helping me with my problem.

Nevertheless, at this time I have not made a dime. The indicator patterns seem to change quickly on the charts. The Elliot Wave has substance and in theory it may work, but I don't think it likes Forex.

Another problem I see is maybe I don't have all the "bells and whistles" because I have Trading View? On his charts there appears to be another indicator toward the bottom?? Maybe I am missing something?

The Roller Coaster is just plain junk in my opinion. It seems to draw as it goes?? From what I am seeing, it has a large stop out area, but a small target. In other words, often times I have seen the risk is greater than the reward. Again, I don't think it likes Forex.

I think what bothered me most was the 5K Club. One must pay 60 dollars a year for membership and then, when they have a webinar, you must pay an additional 5 dollars to enter.

I had no problem paying the membership so I could learn. While in my first webinar, what frustrated me was nobody trades Forex. When I mentioned Forex, I was told "we don't trade Forex in here." Only futures. And then was told to read the website for clarification. I DId! I did not see anything about 5K being only for Futures.

I sent two tweets to the company and asked for the reference to Futures ONLY, but was ignored. I have never heard back from them via their Twitter account which is active.

I gave this indicators 2 stars because they don't seem to be Forex friendly. However, they may work for Futures, I don't know. The good news is I am a 3 month subscriber so they can only take my money for three months. After that, I can invest in a better product with better customer service.

Their "Trade Ideas" that you sign up for? To date, I have only seen two recommendations. One for a stock. and one for the EURJPY posted on 1-14-2020.(see their website) It appeared on a 60 minute chart with a target of 123. But, it never hit the target. It only reached 122.870 area. (Good enough for government work, I guess) But the indicator does not show any trade on my charts. If it is a Wave, why wouldnt the Wave show a history?

Thank you for listening.
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