Forex Fortune Signal Final Review
I have been trialling another ForEx signal service for the last eight weeks. The signals for this service can be received via email, Facebook or Twitter. I am receiving emails. During the trial an auto-trading solution was implemented; I neither looked at nor tested this platform. Towards the end of the trial Stocks were added, but I didn’t test these either as there were only a few days of the trial left to go.
This service is very simple when there is a trade opportunity, you enter the trades in a suitable spread-betting program and leave it to activate when conditions are met. Your stoploss and profit targets are contained within the signal. Where the stoploss is moved to protect profits, further emails are received. The stoploss is normally set at 50 pips.
The service launched at the end of May. I believe that there is a week’s free trial and that the subscription costs are $97 per month (about £60 at current exchange rates).
When I started this trial the website contained some very encouraging figures for the previous month; up 257 pips. Unfortunately the real performance has been way off this, and the trial finished 106.6 pips down (-£1, 066 at £10 per pip).
I appreciate that there will be occasional losing trades, and indeed occasional losing weeks must also be expected but I don’t expect a signal service to still be down after eight weeks of operation. When paying for signals, the performance has to be exceptional; there have been 4 losing weeks and only 14 of the 30 trades closing in profit, a strike rate of 46.6%. I would have done better tossing a coin! Therefore I categorise this as FAILED.
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