Day Trading & Forex Forum

FactualVinay

Hello everyone,

Has anyone tried the daily signal service of The FTSE 100 Club

I have recently signed up for their one month free trial and after 2 weeks, I have mixed feelings. However, the markets have also been very choppy and a small loss might not be a bad result in these choppy conditions. 7 trades taken out of which 4 were loss making and 3 made small profits.

Any feedback on this signaling service or info about another similar signaling service would be deeply appreciated.

Thanks!

V

tomorton

Hi V. Anyone who knows anything about TA can identify entry points using their own favourite indicator or price pattern, but its what you do with the position after you've seen the signal that makes or breaks your account.

I'd be cautious with real money as most services aggressively promote their entry points but are more reticent on the stop-loss when things don't go to plan. It would be a shame to take a position and then find they had quietly abandoned an hour later without telling you.

But a service is not a sustainable substitute for a strategy. While we might assume these signals are based on TA, how would you rate this service if they declared their signals were based on reading tea leaves or tossing a coin or astrology?

Aspire

How can any loss not be a bad result!?!

FactualVinay

So called senior member: Thanks for your helpful comment.

It is down to perspective. With a responsibility of more than $40mn revenue a month in my day job, I am aware of the impact of external uncontrollable factors and keeping that in mind, everything is relative and contextual.

Anyway, to each one his own. I am honest enough to share my experience and perspective. Not sure about yours (with your clown like smileys!)

FactualVinay

Thanks very much for sharing your helpful perspective. I hear what you are saying. Point taken. Can you please tell me what does TA stand for?

Thanks again!

Aspire

I wasn't trying to take the **** I just found it really funny that anyone could think that a loss isnt't a bad result when trading. sorry about that.

Trading is all about external uncontrollable factors and, although losing trades are inevitable and should be accepted quickly and easily as part of trading, losing money is always a bad result. Always. The context is irrelevant. If you are trying to make money and you lose it that is a bad result. Looking at it from any other perspective is just going to lead to trouble however you justify it.

Seriously, though, if you want to make money trading you must work hard and learn how the markets work and move. A SINGNAL SERVICE WILL NOT MAKE YOU CONSISTENT MONEY OVER THE LONG TERM!! You can take my word for it or you can find out the hard way but think about the fact that this website is full of people struggling to learn to trade and there is not a single watch/ car advert on the site. In fact there isn't a single advert for anything that someone could spend their trading profits on.

It is very possible to make a lot of money trading and you dont need to be a genius to do it but you do have to do it for yourself. Learn some Technical Analysis (But don't fall into the trap of believing trading is a TA competition) and most importantly watch, watch, watch how the markets move, think about what's going on and try to master yourself.

Good luck!

P.s. How can my clown like smilies give any clue to my trading ability, experience, or perspective!?!

tomorton

TA = as above by Aspire, Technical Analysis

bottomdollar

Thanks for the link, looks like it's a FREE 30 day trial so why not have a look and papertrade it? I've just signed up and will follow to see if it can work (or not!)