Daily Forex Signals from Forex trade Alarms

[Melpipsen]

Marc,
Sounds worth a look. If we want to give it a try are they going to renew your discount? Shall I just go ahead?

Patrick

[marc walton]

Hi Patrick, I wasn't pushing for the discount as they had a "wobble" with their performance in June. Having said that they still ended up with 80 pips so unless you joined mid month it was not a loss. Currently they are back on track, so I will see if they will agree to a discount for members again. i will post here in the next few days, as soon as I know, regards, Marc

[macella]

Hi Macella,
Welcome on board. Eur/AUd is really nice. Could you tell us what is this table?
Regards

Capsmart, my table is based on the same stats that Marc mentioned. There were a few duplicate trades at the start, but it is roughly accurate. I have been trading in demo for the last month and have the same results. I intend to start to trade live in Aug with a low lot size then scale up once the holiday season is over.

[marc walton]

AFter some hard bargaining, OK I had to grovel , the guys at Forex Trade Alarms will allow $25 for life to those who join via the forum for the next 2 weeks only. I thought the offer was ongoing, but it was supposed to be a one -off for a month when they launched.

After a wobble in their results in June they have stormed back in July and are currently up 600+ pips so far this month & 4400+ pips for the year. You can check out the beta testers results (Donna forex) on the following page & I can confirm that I have received the signals for that time period & they are legit.

Forex Trade Alarms Results The coupon code for the discount is: marc12001

This account has now grown from $3000 mid April 2010 to $5735.16 as of Friday evenings market close. I have also had a look at statistics from earlier in the year & include a screen shot (attached) of Julys trades. The right hand column is the pip count.

The main problem with a signal service is that if you join at the wrong time & hit a losing streak, you end up losing. My wife & daughter (my money :, did just that). They are learning to trade forex & this seemed like a great way to grow their account, whilst spending the summer at the beach!

Unfortunately the time when they joined was just as forex trade alarms struggled, mid June. Thankfully, after this weeks, 400 pips brilliant run, they are now back in front.

A further thing to take into account is that it can be the best signal service in the world, but if the owners decide to stop, for whatever reason, you will have learned nothing. Therefore its important that you continue to learn to trade currencies for yourself.

At the end of the day if you can master this hellishly frustrating past time for yourself then you will have the opportunity to make a serious income for the rest of your life. I have had over a dozen emails this year from mentorpro members who have told the boss where to stick the J.O.B (Just Over Broke) & now trade full time, so if thats your goal, keep on learning!

To claim the $25 discount for the life of your membership, you need to click on the following link & when prompted enter marc12001 in the coupon box, best of luck, Marc

Forex Trade Alarms

[Yick]

OK, I took the plunge and subscribed to FTA (with discount - thanks) at the beginning of this week.

First signal yesterday; long EURAUD - took it and closed out today for +115 pips.
It appears that I have today's weak Aussie Consumer Price Index report to thank for the "windfall".

It was a bit of a hairy ride, however. Price (on my platform) yesterday dipped to within about 3 pips of the 80 pip stop loss !

Having read this in Marc's post #1 on this thread,"They have a trade manager that moves stops to entry after so many pips & takes part profit which ties in with my methods." I was expecting the trade management EA to close part of my position at a predetermined profit, but it seems I was mistaken. As far as I can see, for instance, the following possible scenarios could have happened in the above EURAUD trade (on all of the position)...

(a) 115 pip profit
(b) stopped out @ breakeven after +65 pips achieved
(c) stopped out @ +40 pips after +85 pips achieved
(d) stopped out @ -80 pips full stop loss

So I am saying that whatever happens, it happens to the whole of the position.

Is this correct, or am I missing something

Would welcome comments from more experienced FTA users ...

[capsmart]

Yick if you use FXCM it cannot close partial trades.
To make sure open a very small position like 0.02 lots and try to close 0.01 to see if it works.

[Yick]

Yick if you use FXCM it cannot close partial trades.
To make sure open a very small position like 0.02 lots and try to close 0.01 to see if it works.

Thanks for the suggestion, cap.

I am with GoMarkets which I know for sure will allow partial trade closure (I have tried it as you suggested).

So I still believe that it is the FTA EA itself which, in fact, does not initiate partial closures (rather it will sometimes close the whole position at part of the initial tp pip target - as in (c) on my last post. If so, (and I'm not seeking to be overly pedantic) IMO this is not exactly how Marc's method goes (which is to close part of a position at a certain pip gain, then move the stop loss on the remainder to breakeven).

However I'd be willing to stand corrected ...

[Yick]

My first week following the FTA signals has been not too bad.

4 signals received.

2 trades hit full tp (both of them on EURAUD, +115 pips each)
1 trade stopped out at breakeven (GBPJPY)
1 trade hit full sl (AUDJPY, -65 pips)

So net +165 pips for the week

Took roughly 2% risk on each trade, actual total risk of 7.7% for the 4 trades.

Net gain of 3.5% for the week

[macella]

My first week following the FTA signals has been not too bad.

4 signals received.

2 trades hit full tp (both of them on EURAUD, +115 pips each)
1 trade stopped out at breakeven (GBPJPY)
1 trade hit full sl (AUDJPY, -65 pips)

So net +165 pips for the week

Took roughly 2% risk on each trade, actual total risk of 7.7% for the 4 trades.

Net gain of 3.5% for the week

Interesting. I had the second euraud traded stoped out by the money management EA at the second target of 40pts (alpari uk classic, real)

and I notice the donna forex site had the gbpjpy trade at a -136.6 full stop loss......

Which broker are you using? real or demo?

[macella]

Using the MT Intelligence - Statement for donnaforexalarm (donna forex) reference site for stats over the last three months....



a few thoughts....

euraud
- 80% of time giving a favourable out come
- 55% of time hitting full take profit
conclusion: trade it with full risk %

gbpjpy, gbpusd, audjpy
- all have a loss % which is much greater than the full take profit %
- they have only broken even to date dute to 2nd targets being hit (particularly gbpusd)

conclusion: unless this changes (& it may...), they are not worth trading. If you do decide to trade, use a smaller risk %.
Another option would be to look at scaling out some of the trade at the first/second take profit....but only do this, if you are also going to scale out some of the losses as well.
It makes me think that the target levels are not quite right for these pairs. It would be interesting to understand if there are any updates coming....