For the second day, which is 6/10/2010, I got two signals from forexsignal.com. First signal for USDCHF long trade, second signal for USDJPY short trade.
The following table shows you the three text messages I got for the first signal for the currency pair USDCHF. The first text message is the entry signal and the next two messages are for moving the stop losses.
First Signal – USDCHF Currency Pair:
| Entry Type : Long(Buy) | |||
| Enter At : 1.1405 | |||
| Trade Type : Retracement Trade | |||
| First SMS | Second SMS | Third SMS | |
| Time Received (EST) | 12:25 AM | 9:59 AM | 10:05 AM |
| Stop Loss | 1.1373 | Move To 1.1390 | Move To 1.1405 (Entry) |
| Profit Target 1 | 1.1440 | Same | Same |
| Profit Target 2 | 1.1450 | Same | Same |
| Profit Target 3 | 1.1465 | Same | Same |
The following picture shows you when I got the entry signal SMS and the next two text messages to move the stop loss. If you observe the picture you can see that the price did not hit the profit target but with in that time we moved the stop loss to the entry point and the price hit the stop loss. There is no profit here but the no. of pips lost is the spread.
USDCHF picture showing when I got the text messages and whether I got the profit or loss
The following table shows you the two text message I got for the currency pair USDJPY short trade.
Second Signal – USDJPY Currency Pair:
| Entry Type : Short(Sell) | ||
| Enter At : 91.95 | ||
| Trade Type : Retracement Trade | ||
| First SMS | Second SMS | |
| Time Received | 8:22 PM | 12:49 PM (next day) |
| Stop Loss | 92.24 | Remove |
| Profit Target 1 | 91.60 | Remove |
| Profit Target 2 | 91.50 | Remove |
| Profit Target 3 | 91.35 | Remove |
The following picture shows you when I got the entry signal SMS and next message to remove the trade as it did not hit the entry signal. Here we did not get any profit or loss as the trade is removed.
USDJPY picture showing when I got the signals and whether I got profit or loss
But I observed the performance page from forexsiganl.com which shows a profit of 44 pips for USDCHF currency pair. I don’t understand how this guy made a profit when it hit the stop loss. Looks like on the second day also this guy presented false results. Check the following performance picture from forexsignal.com
Performance Results Page from forexsingal.com for 6-10-2010
The Forex market is highly dynamic and it requires quite a bit of diligence to effectively turn your investments into quick profit. This is not a play it as you go system where you can leave to chance.
~”~ I am really thankful to this topic because it really gives up to date information –: