Is there such a thing as profitable signals provider?

[traderkay]

OK, regarding drawdowns, etc. We all know what consistently profitable is. I think profitable on every 2-month basis is fair enough. Visually, what we want is just a reasonably good looking equity curve (yes, mild drawdowns is ok of course)

[pixius]

Draw downs are to be expected, as long as you do not risk more then 3-5% of your account you should be fine. Also one should look for the consistency and pay only when profits are achieved. Our funds for example you do not pay a fee unless a high water mark is achieved. Losses are also carried over and must be overcome before billing can resume. Services that provide this type of service do exist and remove the doubt from results. They dont get paid unless the clients profit. They are also "punished " so to speak for doing poorly. The business model has worked well for years in the hedge fund industry and is slowly making its way into this market.

[iwantpips]

I would have to agree with Pixius, I have fallen victim to many scam artists. Services should be used by those that are new to FX trading and also for those that dont have the time to properly research a trade. If you can you should always try to learn how the market operates. I also tried the above mentioned service as I have little time to trade on my own right now. I wasted my money. As a seasoned sucker take my advice, If they wont give you a free trial they have no confidence you will come back. Anyone can have a good week or 2. 30 days isnt even long enough since this market trends heavily, and you can ride that trend for alot of pips. Take team Forex for example 3 years in a row this guy has lost 1000 pips in a month and admited there was a flaw in his system. He "feels bad about the loss" but will not take responsibilty for it. Thats a 10k account he wiped out. He has his money though so what does he care. Plus as a refering broker he got commision on all those trades, and this has happened 3 years in a row. Does he mention the pips he lost in June no.... He just says he had a great July when in reality you would still be down.... huge. The fact is we have no idea who is calling signals on the other end or what system they are using. It could be a dog wags his tail and barks go long, growls..go short and our money is on the line. Many new traders look at signal providers as the geniuses they aren't. They overleverage and (I have) trust too much. Maybe I am bitter but I have a right to be. 4x made easy ripped me off 4K gone Peter Bain got me also, lets not forget Beau Diamoind. The service above has my money and Yes I even paid even Team Forex for the priveiledge of taking me to hell. Do yourself a favor if you are going to use a service find one that will allow you to pay when they produce,in the meantime while you are using the signals learn how to trade on your own. In the long run you will be better off.

[reflections]

Originally Posted by traderkay

So... what has been your real money results with these two services? How long you traded with them and list profits drawdowns in pips.

I apologize for not answering your questions earlier as I was not "watching" this thread.

The results posted on each providers website are honest so you can check them out there for more information. In summary Stormy has drawdowns of around 7-800 pips and returns 600-1200 pips on average.

FX Analytics is a little harder to judge because they trade very little when the market is choppy. Last couple of months we got like 200-300 pips with maybe 125-175 DD. Last fall they traded more because conditions were better and returned +1000 PIPs with a 550 drawdown. More exact numbers are on each providers respective website and check out fx-review.com for the opinion of others.

Stormy is almost always in the market while FXAN frequently steps aside if they do not like what they see.

[reflections]

Originally Posted by iwantpips

I would have to agree with Pixius, I have fallen victim to many scam artists. Services should be used by those that are new to FX trading and also for those that dont have the time to properly research a trade. If you can you should always try to learn how the market operates. I also tried the above mentioned service as I have little time to trade on my own right now. I wasted my money. As a seasoned sucker take my advice, If they wont give you a free trial they have no confidence you will come back. Anyone can have a good week or 2. 30 days isnt even long enough since this market trends heavily, and you can ride that trend for alot of pips. Take team Forex for example 3 years in a row this guy has lost 1000 pips in a month and admited there was a flaw in his system. He "feels bad about the loss" but will not take responsibilty for it. Thats a 10k account he wiped out. He has his money though so what does he care. Plus as a refering broker he got commision on all those trades, and this has happened 3 years in a row. Does he mention the pips he lost in June no.... He just says he had a great July when in reality you would still be down.... huge. The fact is we have no idea who is calling signals on the other end or what system they are using. It could be a dog wags his tail and barks go long, growls..go short and our money is on the line. Many new traders look at signal providers as the geniuses they aren't. They overleverage and (I have) trust too much. Maybe I am bitter but I have a right to be. 4x made easy ripped me off 4K gone Peter Bain got me also, lets not forget Beau Diamoind. The service above has my money and Yes I even paid even Team Forex for the priveiledge of taking me to hell. Do yourself a favor if you are going to use a service find one that will allow you to pay when they produce,in the meantime while you are using the signals learn how to trade on your own. In the long run you will be better off.

I am in the same boat as you it seems, team forex ripped me off and I am searching for a system that works.

Let me share what works for me. I use the following providers with real money and receive nothing for mentioning them:

fxan.com
stormyforex.com

You can review fx-review.com for the opinion of others on these services. Both are working well for me but stormy is riskier. None provide a free trial but have reasonable fees (100 or less per month) and FXAN has live account statements on their site (I have talked to the owner a lot) and will manage an account for only 1 PIP commission (nothing more).

Myself, I split my money between those two and my own scalping system. I really beleive in learning to trade yourself and it gives me great satisfaction each time I get a winning trade. FXAN and STORMY help diversfy my investments (I would not trade everything myself EVER).

If you want training try robbooker.com. He has a money back guarantee and only charges 1200 payable in 6 monthly payments as you learn. I have not heard a bad thing about him but I have NOT taken his course myself. He has some good free ebooks on his site. PM me if you want to chat sometime, seems we are both in the same position.

For brokers I user G F T and INTERBANK FX.

Best of luck.

[Guyl]

Beau Diamoind. why does fx-review rate him good?

[Guyl]

Peter bain, i was looking at his system, people have opions on this one?

[comingback]

I think there can be profitable signal providers out there. A big mistake a lot people make is believing that making money trading is a matter of good entry and exit signals. That is all a good signal provider will give you. However, that is only less than half the battle.

Imagine someone who is good at picking entries and exits but doesn't make money trading. This person will make a good signal provider but may be a rubbish trader. I know someone who is very good at entries but just can't make money trading. He doesn't have the psychological makeup to be able to stick to a trading system and the discipline to stick to a good MM algorithm. I believe he can provide very good signals.

I think anyone who can trade wouldn't send dignals, but you don't have to be a good trader to be a good signal provider. It is sufficient if you are a good analyst. In other words, good traders trade, but it doesn't follow that you have to be a good trader to provide trading signals.