Feed back about Fxmaster

[Dave1971]

Update

Well guys looks like I picked the wrong time to subscribe, heres the completed trade since 25 Nov.

GBP/USD sell @ 1.8900 s/l hit at 1.8980 -80
GBP/USD sell @ 1.8920 s/l hit at 1.9000 -80
USD/CHF buy @ 1.1400 s/l hit at 1.1400 0
GBP/USD Sell @ 1.9100 s/l hit at 1.9185 -75
EUR/USD sell @ 1.3300 s/l hit at 1.3380 -80

Down 315 pips in the first week so far, three trades currently open and due to conflicting trades on the dollar at least one of those will be a loser.

I am not bitter however I just think I have picked a bad time to join, their past performace show that losing runs are either preceded or followed by some heftly wins.

As an overview it seems very clear that they were expecting some strength to re-appear in $ but got caught out by the continuing weaekness.

Any comments anyone?

Dave

 

[Dave1971]

Further Update

Oh dear they really are having a torrid week !

Next 2 completed trades

GBP/USD Buy @ 1.9300 hit s/l at 1.9210 -90
USD/CHF Sell @ 1.1420 hit s/l at 1.1500 -80

That makes - 485 pips in the last 7 days, which supasses their previous worst losing run, I should have expected that when I joined

I will keep you posted next week

Dave

 

[Roberto]

That makes - 485 pips in the last 7 days, which supasses their previous worst losing run

That's very scary indeed ... and extremely unfortunate!

I will keep you posted next week

Thanks very much, Dave. Watching with bated breath here ...

(I _do_ actually know the feeling. I joined Isiris - extremely expensive horse-race tipping service par excellence - just before probably their worst run ever, in spite of independently and reliably corroborated, consistently profitable results, and naturally wondered what the hell I'd done. I stuck it out and it gradually reversed, and now I have absolutely no complaints whatsoever about them and am completely back to being astonished at how on earth they manage to do it. So don't assume the worst ... yet ).

 

[Dave1971]

This Week So Far

USD/JPY Buy @ 102.55 + 115pips (Profits taken @ 103.70)
USD/CHF Sell @ 1.1380 -80pips
EUR/USD Buy @ 1.3380 - 80pips
GBP/USD Buy @ 1.9350 - 80pips

With the exception of the Yen trade (signal given 29/11/04) looks like they were expecting continued weakness in the dollar, and have been caught out by the bounce.

With net losses above of 125pips taking the drawdown since 27 November to a scary 610pips they are going to have to go some to stop December being the first negative month in the quoted stats.

It's obvious that they have been reading the dollar wrong in the last couple of weeks, which I take as a hiccup. I just hope they re-group and get back on track, and don't make the classic mistake of trying too hard for the rest of this month and compounding the losses.

 

[Roberto]

It's obvious that they have been reading the dollar wrong in the last couple of weeks, which I take as a hiccup. I just hope they re-group and get back on track, and don't make the classic mistake of trying too hard for the rest of this month and compounding the losses

Absolutely. Well, for what it's worth, their previous history of recovery from accidents is really pretty good, so let's see. Meanwhile thanks again for updating, and good luck!

 

[alliance]

Hi Dave,
Thanks 4 the update! Hope u are paper trading
FWIW, I have been keeping a weather eye on Aspen, and they appear to have had a pretty bad week last week, but thus far this week are having a cracking cpl of days...so as Roberto says, dont give up on them just yet. I think the $ action caught quite a few of the pro's out!

 

[Dave1971]

Thanks 4 the update! Hope u are paper trading

I wish But fortunately I didn't follow a couple of the losing trades, risky I know but it seemed glaringly obvious that they were chasing the market and I couldn't bring myself to chuck money at it.
I am also of course observing sensible money management (don't we all ?) and it would take a run of over 1000 losing pips before I had to rethink my trade sizes.

Dave

 

[firedave]

Hi Dave, sorry to hear that. I hope your test can give us better understanding about their service. Thank you and all the best for you.

 

[Roberto]

Hi Dave 1971, fxmaster have now updated their results pages to include November 2004 (including trades opened in late November and closed in early December). http://www.fxmaster.net/history/nov2004.html I see the +115 long trade on USD/JPY which you also mention above, and some minuses near the end of the month. I think your subscription started only in late November(?), so it may not tell us very much, but would it be possible for you to take a look when you have time and let us know whether anything you see rings any alarm bells? Thanks very much in advance ...

 

[Dave1971]

Hi Dave 1971, fxmaster have now updated their results pages to include November 2004 (including trades opened in late November and closed in early December). http://www.fxmaster.net/history/nov2004.html I see the +115 long trade on USD/JPY which you also mention above, and some minuses near the end of the month. I think your subscription started only in late November(?), so it may not tell us very much, but would it be possible for you to take a look when you have time and let us know whether anything you see rings any alarm bells? Thanks very much in advance ...

Yeah the results look pretty honest to me, the only comment would be that these are cash prices quoted so it would require very careful stop management to match these figures, otherwise the spreads particularly if SBing would knock the results by 10pips or so per trade.

The first week of December should show a few more losing trades.

Some more trades from last week:

BUY GBP/USD @ 1.9205 s/l hit at 1.9125 -80 pips
BUY GBP/USD @ 1.9080 Running, currently in profit
SELL USD/JPY @ 105.20 Running, currently in profit

I am taking some time off after this week, so won't be trading much if at all between 20/12 and 3/1/05. I'll keep a record of their alerts though and post them up for everyone in the new year. Now doubt this 2 weeks I am out of it will be the most profitable ever

Dave

 

[Roberto]

Thanks for that, Dave. Point taken about spreads, etc.

I'll keep a record of their alerts though and post them up for everyone in the new year.

That will be very greatly appreciated!

No doubt this 2 weeks I am out of it will be the most profitable ever

Not sure whether to say "I hope not" or "I hope so" (if you see what I mean), but I know exactly what you mean. Thanks again for keeping us posted and all Appropriate Seasonal Things to you and yours ... and have a good break over the holidays.

 

[Dave1971]

Update

Been a couple of better trades now:

GBP/USD buy @ 1.9080 260pips (Profits taken at 1.9340) (from last update)
USD/JPY Sell @ 105.20 still running currently +100pips (from last update)
USD/JPY Sell @ 105.60 Still running currently +140pips
EUR/USD [email protected] still running currently +20pips **

** this signal was to take profits at 1.3440 or 160pips, it has touched 1.3431, which had I traded this one I would have taken.

If you take where I would have got out on the EUR/USD trade at say 145pips then these trade as they stand are + 645pips, which I think puts the service into the black for December.

Unfortunately I have not taken most of these later trades due to the xmas wind down, but it does give me more confidence in the service should there be another scary drawdown when I resume in earnest in the new year.

Best wishes for the season to one and all

 

[Old_Bob]

Been a couple of better trades now:

GBP/USD buy @ 1.9080 260pips (Profits taken at 1.9340) (from last update)
USD/JPY Sell @ 105.20 still running currently +100pips (from last update)
USD/JPY Sell @ 105.60 Still running currently +140pips
EUR/USD [email protected] still running currently +20pips **

** this signal was to take profits at 1.3440 or 160pips, it has touched 1.3431, which had I traded this one I would have taken.

EUR/USD high on 15th Dec was 1.3442. The EUR/USD trade was closed with +160 pips.

which I think puts the service into the black for December

I'm also impressed with the way they turn their losses into profit before end of the month. It's not first drawdown. It happened before and they always end the month with profit. I think the secret of their success is the good money management. A few winning trades can erase many losses.

 

[kwtaylor]

trial

I subscribed effective today and will post performance, though I don't promise daily results!

JRT

EUR/USD high on 15th Dec was 1.3442. The EUR/USD trade was closed with +160 pips.



I'm also impressed with the way they turn their losses into profit before end of the month. It's not first drawdown. It happened before and they always end the month with profit. I think the secret of their success is the good money management. A few winning trades can erase many losses.

 

[t2wmember]

kwtaylor,
Any updates on fxmaster results?

Regards

 

[kwtaylor]

kwtaylor,
Any updates on fxmaster results?

Regards

Hi, got my first signal on 12/24... buy GBPUSD @ 1.9200, SL 1.9120, TP 1.9430.
Second signal on 12/29: Raise SL to 1.9250 and lower TP to 1.9400.
Third Signal 12/30 - buy again if price drops to 1.9170, lower SL to 1.090, tp at 1.9350.

Obviously the third signal means that he's intending on averaging the buy.

So far price hasn't dropped to 1.9170 so I still own just one unit. I will report when the trade closes.

 

[Roberto]

Many thanks for the update!

Second signal on 12/29: Raise SL to 1.9250 ...
...
... so I still own just one unit.

Not quite with you here, KW ... why weren't you stopped out at 1.9250 (with 50 points profit) around 11.00am GMT on the 29th when the price suddenly fell so sharply? What have I missed?

 

[kwtaylor]

Many thanks for the update!

Not quite with you here, KW ... why weren't you stopped out at 1.9250 (with 50 points profit) around 11.00am GMT on the 29th when the price suddenly fell so sharply? What have I missed?

Roberto, thanks for your keen eyes. Mine aren't so keen. Neither is my brain.

As I go back over his signals and my trades, I see that I have made some mistakes, so I apologize to all.

Had I followed the signals exactly, I would have gotten stopped out Thursday Morning exactly as you say after the price dropped. FXMaster sent his signal to raise the SL at about 2 AM EST on Thursday. I didn't see that email until later Thursday morning, just before the price fell below 1.9120. More than likely what I did was simply cancel the first stop order and sit there confused wondering why he would recommend a SL that is 30 points above the current price.

Hope that clears it up. I am still long, and at the moment, breakeven. But as far as the purpose of this thread goes, which is to independently verify FXMaster's signals, to date I have received one trade which (in theory) closed at a 50 pip profit. (right, Roberto?).

Aren't you glad I'm not in charge of a nuclear power plant?

 

[Old_Bob]

I'm happy to end this month in profit following fxmaster signals. In the first half of December, there was some losses that made me think it would be their first losing month but finally they covered all losses and now total profit for December is +315 pips. They are doing great work

Happy new year :cheesy:

 

[kwtaylor]

trades

Old Bob -- glad to hear Dec ended so well. Can you tell me how your last signals from FxMaster went? That is, did you stop out at 1.9250 and take a 50 pip profit? And on his last signal, to buy at 1.9170, I assume that hasn't happened for you yet, right? (as of this moment cable is at 1.9195).

I'm trying to get back in synch with him.

Happy New Year too!