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Review: 4XLounge.com (4/5)

August 15th, 2009 admin
4XLounge.com

4XLounge.com

4XLounge.com is a trading signal and analysis service. It is providing multiple free services for trader, such as Market Barometer and trade alerts for their trend-follow system – X Trend.

Trading Style and Services
4XLounge.com is trading several trading systems: Overbought\Oversold system, Trend-following system and swing trades. All trading is done automatically by the trading systems at their site. Interface for trading is easy to understand and precise entry, stop loss and take profit information is sent via Mail, Desktop application and SMS.

Live trading room is also available in which clients can receive trading signals and chat with head trader of 4XLounge.com

Free services include alerts regarding evolving Chart Patterns, Market Barometer trade alerts on 2 pairs and X Trend system trade alerts.

Performance
4XLounge.com is very honest in their performance reporting and show losing trades as well. Overall, their systems are profitable and generate profits. Their winning rate is about 50% which is an average rate, but the high Risk:Reward makes up for it and leads to their profits.

Each of their trading systems is divided into short-term and long-term trading so traders could choose the timeframe they are more comfortable with in terms of free time.

Trial
10-days trial costs 79$. Free subscription is available and allows to test several services for profitability.

Pricing
179$ per month, 399$ per quarter, 999$ per year. Payments are via PayPal and Authorize.net, accepting credit cards.

Conclusion
4/5 stars

Visit Site
4XLounge.com

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Money Management in Trading Signals: Winning Signals, Losing Money

August 14th, 2009 admin

The situation may sound familiar to you: You have checked dozens of reviews and sent several questions to the support team, and finally signed up at a trading signal provider. You start receiving signals which turn out to be great. Surprised by the profitability you increase your lot size and at first loss you end up broke. This is the result of poor Money Management.

Money Management is a crucial element in your trading success, regardless of your trading system. In this article you will learn the importance of Money Management and simple rules to help you from situations like the above.

A Trade Is A Bet
Any trade is a probabilistic event, whether you accept it or not. No trading system or signal provider can guarantee you 100% hit rate. This is due to the fact that market consists of unlimited participants whose actions are unknown to us. Technical Analysis can assist in providing educated guesses, but any trader, big enough, can shift the picture and cause us to lose.

Risk Constant Percent Per Trade
After we know that any signal provider – no matter how good – can lose, we will find it important to protect ourselves against such events, so we will be able to continue taking signal and recover.

This leads us to the basic and main rule of Money Managament: Risk Constant Percent Per Trade. On each trade you should risk a constant amount of your equity, between 1% and 3%. This ensures that you withstand long periods of losses and stay capable to enter at the next winning signals.

Stop Loss and Money Management
A newbie mistake is manipulating Stop Loss to fit one’s equity at risk. This is a wrong approach. Stop Loss should be related to chart only and to Support and Resistance. Modifying it due to risk-management can cause early exit with small profits and larger losses. One must modify his lot size to account for money management, leaving his Stop Loss intact in its logical place.

This approach to money management is an irreplaceable part of trading and is of high importance to trading success. These rules can assist you in trade trading signals with higher success and better yield.

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Review: Prosignal-Forex.com (1/5)

August 13th, 2009 admin
Prosignal-Forex.com Signal Provider

Prosignal-Forex.com Signal Provider

ProSignal-Forex.com is a Forex signal provider working since 2006.

Service
Prosignal-Forex.com provides signals via email only, no SMS or desktop-signals available. Also, there is no support phone – merely email.

Performance
Multiple reports by clients of Prosignal-Forex.com suggest that their performance highly deviates from the official reports on their site, and that their actual results are much worse. Clients we have interviewed claim that hit-rate is very low and most trades turn out losing money. Reported performance also does not account for spreads and commissions.

Separate multiple reports that are highly negative raise high doubts regarding the profitability and honesty of Prosignal-Forex.com

Trial
Trial period is not offered.

Pricing
99$ per quarter, no refunds available. If a quarterly results are negative, clients are given another quarter subscription free.

Conclusion
1/5 stars

Visit Site
Prosignal-Forex.com

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Review: Millennium-Traders.com (3/5)

August 12th, 2009 admin
Millenium-Traders.com

Millenium-Traders.com

Founded in 1999, Millenium-Trader.com is a veteran site dedicated to trading signals and training. It provides trading signals for Forex, Stocks, Swing trades, and Futures trading signals. It also provides one-on-one training programs with in-house traders.

Trading Style 3/5
Trades are based mainly on Momentum which is a trend-following approach. All trading occurs in a trading room that is moderated by Expert Moderator, that is, a professional trader signaling entries to trades. A major drawback is that the traders do not provide precise entries, merely ‘recommendations’, and demand that clients do their own thinking before entering trades. Also, exits are not mentioned at all, which makes it a very poor service for beginners.

Results from week trial were interesting: while exits were not mentioned, entries were generally profitable and in the direction of the trend. However, exits is a major part of the system, and without precise signaling any trend-following method is of little use. Yet, signals are reported to be precise and allow margin to exit trades profitably.

Trading Performance 2/5
On a first glance the historical performance looks very impressive – Forex trading room has yielded 425,800$ of profits in 2009, and 8,700$ last week alone. Swing trading room also yielded $265,250.00 and so as other trading rooms.

However, trading performance is strongly biased – because exits are not signaled, profit is the greatest number of pips reached even after trade was closed. Example: Trade #1 reached +5 pips profit and then plummeted to touch stop loss. Reported profit will be +5 pips. This is a strongly biased performance tracking that highly differs from actual results.

Trial
1-week trial is offered without any obligation or credit card information.

Pricing
Services are rather expensive:

Stocks trading signals … 249.9$ per month, 637.25$ per quarter
Futures trading signals … 249.9$ per month, 637.25$ per quarter
Forex trading signals … 249.9$ per month, 637.25$ per quarter
Daily trading signals … 249.9$ per month, 637.25$ per quarter

Conclusion
3/5 stars

Visit Site
Millenium-Trader.com

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Review: UnderstandMarket.com (2/5)

August 11th, 2009 admin
UnderstandMarket.com Trading Signal Provider

UnderstandMarket.com Trading Signal Provider

UnderstandMarket.com is a trading signal provider established in 2006.

Trading Style
UnderstandMarket.com is providing trading signals for 5 FOREX pairs (EURUSD, GBPUSD, USDJPY, USDCAD, AUDUSD), the Gold and the S&P 500. Their trading style is very conservative, and they take about 1 trade a month. This is one of the more conservative approach we have seen, but unfortunately it makes it hard to estimate the true performance of the service.

Another strange fact is that the performance track is only for 2005-2006, and no performance is reported for recent years.

They are also providing Probability Maps – projection of the future price based on Artificial Intelligence calculations, that attempt to show you the future course of price. Examples are very impressive.

Trial
Trial is not offered.

Pricing
Pricing is not stated, neither payment procedure.

Conclusion
2/5 stars

Visit Site
UnderstandMarket.com

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Choosing Trading Signals Provider: Trend-Follower or Contrarian?

August 10th, 2009 admin

When evaluating a trading signal provider, an important thing to inspect is the trading style of the provider. By looking through the trades and identifying its trading style, we can learn a lot about the performance of a trading signal provider and its profitability.

Forex Trading Signals & Auto-Trading – Intelli4x.com

In the previous article we have discussed inspecting the Risk:Reward of a signal provider, to assess its profitability and precision in entries. In this article, we will cover another important aspect of trading style: Trend-following or Contrarian.

Trend Follower vs. Contrarian
By looking in past trades of a trading signal provider (be sure to do so), we could learn whether the provider is trading with the trend or catching reversal points.

Trend-Following are often late entries, entered after a trade was already established at the FOREX pair. They are usually the result of a Moving Average cross, simple indicator alert or a Breakout strategy.

Example of Trend-Following Entries in FOREX pair: USD\JPY

Example of Trend-Following Entries

On the other hand, contrarian entries are entries that attempt to catch an exact turning point of price. They usually occur at the very beginning of a new trend, hoping to catch the entire move for more profits.

Example of Contrarian Trades in FOREX, USD\JPY Pair

Example of Contrarian Entries

Which Is Better?
The trading style can give us important information about the experience and true performance of a signal provider.

While trend-following is a legitimate approach that can be profitable, it is usually better in trending markets and suffers great losses in range-bound markets. Trend-Following are also much easier trading systems to implement and imply less trading proficiency than a contrarian one. Moreover, when evaluating a signal provider, a trend-following can produce profits that are nothing but luck – simply because a trend was present at the exact trial period.

On the other hand, Contrarian strategies are much harder to implement and profit from, because great precision in entries is required. Catching an exact reversal point of price requires great trading experience and very few mechanical systems achieve this. Therefore, if a trading signal uses a contrarian strategy profitably, it indicates a much better profitability, and true trading proficiency of the traders.

Conclusion

Trend Following:

  • Easier to implement.
  • Indicates less technical proficiency.
  • Can be profitable due to pure luck, and fail in the long term.

Contrarian:

  • Harder to trade.
  • Indicate great trading experience and abilities.
  • High precision entries are demonstrated.

Be sure to check whether your signal provider is a Trend-Follower or a Contrarian. This can give you immense knowledge regarding its true profitability and performance.

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Review: ForexOnlineSignals.com (1/5)

August 9th, 2009 admin
ForexOnlineSignals.com - Trading Signals Provider for FOREX

ForexOnlineSignals.com

ForexOnlineSignals.com is a very simplistic forex signal provider – it provides signals for 2 market sessions: 00 to 12:00 GMT and 12:00 GMT to 23:59 GMT. First impression is of a simple and stratightforward signal provider. Signal are provided without any analysis or charts – simply entry point, stop loss and take profit position. Signals are sent via SMS and Email, and are covering 6 FOREX pairs.

Nevertheless, this providers shows disturbing anomalies in its reported performance and should be treated with caution.

Trading Style
At first glance the reported performance seems satisfactory as most months are profitable. Looking inside the historical trades, one can get a different picture.

First of all, Stop Loss and Take Profit for trades are generally equal which implies that Risk:Reward ratio is very poor. Trader needs to have an astounding hit rate in order to be profitable with such money management.

Second of all, the historical trades page does not report trade entry time, which makes it very poor reporting with little value at all. If entries are given at the beginning of the market session, results are very different from those reported.

Most disturbing of all, we have found evidence of anomalies between reported profits and actual price. Example is the AUD\USD trade at 6th of August, 2008 (link):

AUD\USD FOREX Trade, as reported

AUDUSD FOREX Trade, as reported

AUD\USD Chart at 6th of August

AUDUSD Chart at 6th of August

While a mistake like this can be an honest mistake, historic performance are less than reliable and even if so, the low Risk:Reward is very unprofessional.

Trial
Trial period is not available.

Pricing
Pricing is per signal, that is, client purchase credits that can be converted to trading signals. 17.95$ for Mini package, 34.95$ for Standard package and 87.95$ for Pro package.

Conclusion
1/5

Visit Site
ForexOnlineSignals.com

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Review: Intelli4x.com (5/5)

August 8th, 2009 admin
IntelliForex - Trading Signals for Forex

IntelliForex - Trading Signals for Forex

Intelli4x.com is a trading signals provider for FOREX pairs. It is provided by Financial Algorithmics LLC. Financial Algorithmics LLC is a privately held, venture capital backed company which specializes in the algorithmic trading, development of online financial products, services and platforms.

Trading Style
Intelli4x.com is offering 5 trading systems for its clients, each one with unique trading signals and algorithm: Katana, Swing, F1, ES3, and Intraday Pro. The most profitable one is the Intelliforex Swing, which yielded +6,850 pips since its initiation. The systems are based on Pattern Recognition, Trend-Following and Scalping. Previously, manual trading systems were also offered but due to severe drawdowns they were suspended.

Despite some draw-down and very wide stops, the systems performed very well during our 14-days trial period, yielding +217 pips in two weeks.

Easy To Use
Interface is very easy to use and understand, and trades are sent in a simply format, with Stop Loss and exact Entry Point. Charts are supplied to illustrate the direction of trades.

Trial
Free 14-days trial is offered without need to enter credit card.

Price
Pricing varies with system: Katana – 199$ per month, Swing and F1 – 149$ per month, ES3 and Intraday Pro – 99$ per month.

Conclusion
Pricey yet effective and honest service. 5/5 stars.

Visit site
Intelli4x.com

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Choosing A Trading Signal Provider: Risk:Reward Ratio

August 7th, 2009 admin

When choosing a Trading Signal provider, clients are usually given a trial period in which they can experience the service directly and decide whether the provider is profitable enough. Nevertheless, such offers can often mislead people and to show performance that is the result of nothing but sheer luck. In this series of articles we will attempt to focus on the primary criterias to inspecting Trading Signals Providers.

Risk:Reward Ratio
Risk:Reward is an important concept in trading which represents the ratio between the potential loss in a trade and the potential profit. It is usually calculated by dividing the Take Profit size by Stop Loss size.

Risk:Reward in a Trade

Risk:Reward in a Trade

This ratio is highly important, as it gives us an estimation of how big the profits are, in relation to the losses. The size of the number is very important in judging traders and signal providers, as it gives us valuable information about the quality of their trades.

Trade Quality and Risk:Reward
The relation between Risk:Reward and trade quality is simple: the greater the Risk:Reward ratio, the higher the trade quality. Great Risk:Reward indicates that the trader is very precise in his trade timing, and is able to risk a very small amount but take big profits.

I would consider Risk:Reward above 2 reasonable for trading, and above 3 to be very profitable. There are few trades whose Risk:Reward ratio is above 3 – and as many trades like this, the better the signal provider.

Be Careful of providers which take trades with extremely small Risk:Reward ratio (less than 0.5), and trades whose risk is greater than its profit. This indicates that these trades are highly risky, and eventually such trader is prone to losing. This strategy are used by many fraudulent providers. By risking a very big amount and taking small profits, such provider is able to withstand a period of 100% winnings, that may mislead customers to believe that it is a profitable service. Eventually, such services end up losing vast amounts of money.

Do not overlook the big picture
While great Risk:Reward is essential for trades, do not forget that the most important criteria is the bottom line: profits. If the trader is taking only trades with high Risk:Reward but is overall in loss, discard it as a service provider.

Conclusion
Risk:Reward ratio is a good tool to estimate the actual profitability of trading providers and trading systems, and give clients a clue on how really good the trades are. Next time you are evaluate a trading signal you will have a more clearer idea on its performance.

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Review: ForexSignals.net (3/5)

August 6th, 2009 admin
ForexSignals.net

ForexSignals.net

ForexSignals.net is a Trading Signal Provider established at 2007.

Trading Style
ForexSignals.net offers trading signals for FOREX pairs, indices, precious metals, energy, commodities and other CFDs. In total, signals are given on 40 financial instruments.ForexSignals.net offers multiple trading signals using various advanced mathematical algorithms to generate precise entry and exit signals. Their site mentions that signals are calculated using adaptive algorithms, indicators and patterns.

Signals are given through 8 signal systems, each focused on different pairs and markets – 5 systems are forex-dedicated while 3 are focused on commodities and indices. Signals are given once or twice a day, depending on signal system.

Performance
ForexSignals.net generated a return in excess of 31% in 2006 and a year-to-date return in excess of 10% in 2007. However, the historical performance page indicates that trades occur very rarely – and profits for several Forex systems are very close to zero. This indicates either high volatility in profits, or lack of trades. Neither are good for a signals provider.

However, the MBoOst and InBoOst systems seem profitable overtime and produced +7,000 pips in 2008.

Trial
Free trial is not available. 7-Days trial costs 49$.

Price
189$ per month.

Visit Site
ForexSignals.net

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