I have been following the Fx calls on the FXCM Daily Fx plus site. Whoever writes this is almost always on the wrong side. Does anybody use their levels on The "Technical Analyzer" section? Somebody must take the other side of these trades and make a mint! el surdo
Hey, I actually use DailyFX plus and it works really well for me. I thought the same thing when I started but after speaking to a few helpful reps I got some good hints. Where I would start: the webinar they hold at 2pm EST on Monday - Friday (I think)...recently one of the FXCM guys has been walking people through the site after the webinar ends. That way you can learn how to use the signals....that really helped me out. Let me know if that helps you...
It's just not consistant, I believe this is due to the fact that several Technicians write it. I am not taking a "webinar", I have Kathy's book and Boris' e Book plus enough years of doing this to know a BAD call! I faded Cable against their "breakout" call! Good trading sudso
Geez, I wonder who is on the other side of these signalled trades? Let's see if we can Sherlock Holmes the answer. First, FXCM signals its retail customers, who act on the signals by buying or selling virtual currencies on the FXCM platform at the virtual prices signalled. Second, the signals mostly are wrong: the virtual price action on the platform goes against the signals. Third, the customers lose money. Could it be that FXCM, which books the bets, wins the money?
The signals have been great for me. I haven't had any problems in that area. Take a look at the archives of signals, going back a few months. There are more than just technical signals.