Here is the first review of the signals I got from forexsignal.com. I got two signals on 6/9/2010 one for USDCHF long entry at around 6 AM EST and another for GBPUSD short entry at around 8 AM EST.
The following table shows you the three text messages I got for the first signal for the currency pair USDCHF. First SMS is the entry signal and the next two SMSs are for moving the stop loss.
First Signal – USDCHF Currency Pair:
| Entry Type : Long(Buy) | |||
| Enter At : 1.1455 | |||
| Trade Type : Retracement Trade | |||
| First SMS | Second SMS | Third SMS | |
| Time Received | 6:22 AM | 8:35 AM | 8:40 AM |
| Stop Loss | 1.1423 | Move To 1.1440 | Move To 1.1455 (Entry) |
| Profit Target 1 | 1.1490 | Same | Same |
| Profit Target 2 | 1.1500 | Same | Same |
| Profit Target 3 | 1.1515 | Same | Same |
The following is the picture which shows you, when, I got the entry signal and when, I got the next two text messages to move the stop loss. If you check it, you can see that the price did not reach the target profit 1. But we have moved the stop loss already to the entry price and the price hit the stop loss. If only one trade is entered I would have lost around 2 pips which is the spread for this currency pair. If I have entered three trades according to the profit targets, I would have lost 6 pips.
USDCHF picture showing when I got the text messages and whether I got profit or loss
The following table shows you the two text messages I got for the second signal for the currency pair GBP. First SMS is the entry signal and the next SMS is for moving the stop loss.
Second Signal – GBPUSD Currency Pair:
| Entry Type : Short(Sell) | ||
| Enter At : 1.4546 | ||
| Trade Type : Retracement Trade | ||
| First SMS | Second SMS | |
| Time Received | 7:48 AM | 8:31 AM |
| Stop Loss | 1.4578 | Move To 1.4561 |
| Profit Target 1 | 1.4511 | Same |
| Profit Target 2 | 1.4501 | Same |
| Profit Target 3 | 1.4486 | Same |
The following is the picture which shows you when, I got the entry signal and when, I got the next text message to move the stop loss. If you check it, you can see that the price did not reach the target profit 1. In the mean time we moved the stop loss with the second text message. The price hit the moved stop loss which is 15 pips from the entry. If only one trade is entered I would have lost these 15 pips. If I have entered three trades according to the profit targets, I would have lost 45 pips.
GBPUSD picture showing when I got the text messages and whether I got profit or loss
But I checked the performance results page from forexsignal.com for 6/9/2010 but it is showing 22 pips profit for USDCHF currency pair and 18 pips profit for GBPUSD currency pair. Looks like these guys are giving wrong results but I will check these signals for the remaining days of my subscription and write reviews accordingly. Check the following picture of performance results from forexsignal.com
forexsignal.com performance results
Recent Comments