Honest Forex Signals Review and Live Testing

[Simon]

HonestForexSignals came out in January but we decided to wait until they were established until we started our review and testing.

As this signal service provides a trade copier, I figured this review should go in the Expert Advisor test section, although manual signals are available as well (via SMS, email, etc).

The results for last year were extremely impressive - you can check them out here - MT4i - Statement for honestforexsignals

However, there are no records for 2011 and that is why we wanted to test this service for ourselves.

Results from our live account (on a VPS), linked to the Honest Forex Signals trade copier can be seen here - MT4i - Honest Forex Signals Trade Copier Live Test

If you are using Honest Forex Signals, please use this thread to share your thoughts and experiences with our members.

[Simon]

<a href="http://www.forex-fxtrader.com/honestforexsignals.php" target="_blank"><img src="http://forex-fxtrader.com/honestforexsignals.png" border="0"></a>

[Simon]

After a few issues setting up the trade copier, the first trade was placed last night.

A short on the GBPUSD, the trade made a total of 94 pips.

Results are here - MT4i - Honest Forex Signals Trade Copier Live Test

Obviously too early to get excited but a solid start.

Simon.

[raa]

Simon, thanks. Is it an automated signals or there is a human being generating signals that are executed by trade copier? Do they trade their own money (I wish)? Looks solid. Potentially could be a part of portfolio diversification but we need to observe and learn more about it. Thanks for info.

[capsmart]

It is a real trader. I think he is from India.

[Gally]

The website is very amusing. Why are forex websites so bad?

[raa]

The website is very amusing. Why are forex websites so bad?

I am more than sure they are automatically generated though the marketing package coming from ClickBank or Plimus. We can see same thing at Dean's websites

[raa]

Hmmm checked out the website, this is very tempting, I always was looking for a service that provides trading signals and have live room, FTC looked like one but I did not come along neither with their room and way to communicate not the way trading signals are delivered. The only issue is that I don't want to get my trading messed again with too many methods. But it does sound good, and he uses the best trading room software, same as ProfitMongers use.

[raa]

Ok, call me stupid, but being fed up with late events, absence of news trades I decided to give it a try to make some money and hopefully learn from Raj too. From what I see he trades harmonic, support resistance, etc same stuff like Marc teaches. So maybe I can find some patience and confidence looking at him trading.

[Simon]

Hi raa,

Let me know your thoughts on this one - I'm looking forward to testing it with you. The results from last year were amazing and I could really use a good Forex signals service, having not seen a decent one for quite a long time now.

I'm very impressed with the trade from last night, Raj's entry was almost unbelievably perfect.

Simon.