I am relatively new to Forex Trading. Do you guys have success with any of these signal services on the internet? Do you make money?
I do make money with www.fxmaster.net They made +11,000 pips in last 2 years. You just need to trade with low leverage because their drawdowns may wipe out your account if you use big leverage.
Do you know there performance for June and July? It seems when they have a good month they post the results in 3 days and when they have bad month they wait more than 30 days in some cases. My guess is that JUNE was terrible. tx
Thats not bad, wonder why they don't update regularly. Do you highly recomend them? Been watching for a while. tx
They are always late to update their performance. Anyway, they always report reat trading perormance and they never hide their losses or add to their profits. I find them very honest.
Some of them making 1000% returns. I don't know if they are good or not because these huge drawdowns.
That's the problem with those services because they don't post open drawdowns suffered but only closed drawdowns, same for Collective2. You don't know how much heat you have to support to achieve their results.
Nick, You are correct. That is the one major problems with the "pip" trackers. You see a 3000 pip gain at the end of a month, but are not able to see the 4000 pips that service was down during the same month. The new (or not so new) way of juicing up the pip totals is by using about 5-10 correlated strategies with multiple positions. It's very easy to have a +1000 pip day, but much easier to have a -2000 pip day. Peace, T2