Forex Signals From Taps E.p.

[howi]

Been looking at TAPS E.P. web site since receiving partner e-mail from Trade2Win.
Is any one using this forex trading system, if so what do you think ?
Do the mobile phone alerts come on time, I use orange which is not in there list.
The one off set up cost looks a bit steep.

 

[Roberto]

If you do a search (hold your cursor over "discussion" and then click on "search for a post") you'll find other posts here about this service.

It's _terribly_ expensive and they give only the shortest of free trials (which is very difficult to understand if the claimed results are anywhere near valid, because a long free trial would have paying customers queueing up, as other services have shown).

It's also reviewed over at www.fx-review.com .

 

[Old_Bob]

I read in other forums that they manipulate their results to make them profitable. Someone mentioned that their winning trades turned to be 2 lots while their losing ones were 1 lot only! You need some hinsight to trade such signals.

 

[Roberto]

Someone mentioned that their winning trades turned to be 2 lots while their losing ones were 1 lot only! You need some hinsight to trade such signals.

Lol, is this what people mean by "creative accounting"?

 

[sr3d]

Hello, I've signed up for their trial time for 10 days (yes, it cost $100). I think the result on their perfomance page is accurate. Last week period ( starting the April 17 05 ) they gave out signals and because of the mixed results of oils and other fundamentals elements, some of their signals were just losing trade. The point is, they post not only the winning trades but also the losing results on the page without fixing any number. How do I know? I was there, seeing their signals sent to my cellphone so I have a chance to verify the result. And their pips result is only for 1 lot. Their profit/loss ratio is okay too with a maxium SL around 25 to 30 pips for a trade of 30pips profit.

Anyway, based on their past perfomance, I think TAPS EP is a decent service. Well, I signed up for the real account like 2 days ago, when my trial ends. I will keep posting the result of the service.

Cheers

 

[Roberto]

I signed up for the real account like 2 days ago, when my trial ends. I will keep posting the result of the service.

In that case, many thanks in advance. This sort of information should always be well and warmly received.

 

[howi]

Thanks for the reply sr3d
Glad to hear you are giving it a go
I may do the same, do the mobile signals come in good time,I use orange which is not on there list
Good luck with your trading, and keep us posted.

Cheers.

 

[sr3d]

The sms messages usually come around 5am EST to 9amEST. I checked the past alerts and that period is the most active one. The alert come about 5 minutes ahead of the actualy trade to give you a little time to get ready. Say if the price goes up to 68, TAPSEP probably sends the alert around 60, telling me to buy at 68, set the stop loss at 38, and the profit target 1 is like 98 to 105, and profit target 2 is usually more than 60 pips.

Howi, what is "orange" that you are talking about?

cheers

 

[sr3d]

yes, i paid for the service. Actually they post the price to scare people away. After the trial period ended, I got a phone call from them. Because I was on the trial period, the monthly fee is now only ... 250 and no service fee. I know no way in this life I pay that 995, it's ridiculous.

I figure now, with my mini account, I do have to get 250 pips a month to cover the fee, but when I know the service works, I will invest seriously into a standard account. It's only 25 pips to cover for the cost, which I am more than willing to pay.

Their result for April is pretty good, 380 pips something, and I believe this is not "creative accounting." I am not advertising for their service at all, but I hope that I have invested in a right one.

Cheers.

 

[firedave]

multiple lots

Hi sr3, I like to ask several question, since you said the result page it true and I can't have the answer even from the TAPS.EP customer service. I like to know how do you calculate the result, since they said they used multiple lots to have Target#1, Target#2 and Target#3. I like to know this because, if you use multiple lots, every loss should be count at least for 2 lots and every Target should be count for 1 lot. Maybe I wrong when understading the result page, and hope you share some light here. Thank you in advance

 

[sr3d]

hi firedave,

For the past 10 days I've been using tapsep, it is quite simple for the profit target and the stop loss level. When the program recognizes a possible trade, it will start flashing and send the message to the cellphone abour 5 mins ahead of time. On the screen will have 3 levels: 1 at which you should enter the market, what direction - sell or buy, what is the stop loss (typically 30 pips away), the target profit #1 (about 30 -40 pips, which they say can achieve more oftenly), and the target profit #2 (about 60 pips away).

They mention something about exitting strategy and enter strategy in their manual, which I have not got a chance to thoroughly read yet. But following the signal is straighforward as all the levels are calculated already. I would, for now, go for only 1 lot and take the profit target 1. It's safer for me because I'd like to study more about forex. Untill I can trade on my own, Tapsep is more like a backup plan to make sure that I have slightly an advantage in trading.

hope this helps,

alex

 

[howi]

Thanks for the info you posted sr3d
Glad to hear you dont have to pay the way out 995 set up fee
Orange is mobile phone service in the UK, only so you are in USA after I posted reply
Keep up the good work.

Cheers.

 

[firedave]

Their result for April is pretty good, 380 pips something, and I believe this is not "creative accounting." I am not advertising for their service at all, but I hope that I have invested in a right one.

Well sr3d, it seems what you said is just a best scenarion result, which mean is not what the user have. The actual performance for Arpil 2005 is only 59 pips. This is what I keep complaining to them, TAPS.EP provide double result page, one is the best scenarion which can mislead all new customer. But seems there is no response. Just my two cents

 

[sr3d]

wow... thanks dave, i didn't know about this fact. I will look more carefully and verify the result. But my question is: how do you know about TAPSEP's other performance result? They have one result page which lists all signals and loss/ profit in the month, I don't know if I can post the URL here or not, but the URL is http://216.73.104.102/data/Default.aspx?Mode=Regular&Month=4&Year=2005. To my knowledge, this page is honest.

It is already too late for me to change my decision, I already paid for Tapsep, believing in the performance of the service. So FireDave, if you can verify the actual performance for April 2005 of 59 pips, please keep me posted. I'd love to talk to the guys at Tapsep to set thing straight.

 

[mike4404]

Out of curiosity from another post I tried this service and I also found it to be honest. The results page is clear to me so I don’t understand what is not being understood and I don’t feel like explaining their system. Maybe you should try emailing calling in to ask. There is a number on their site. I did not subscribe to the service because currently I am not able to open a decent size trading account so I am sitting on the side and learning as much as I can. From different reviews and comments I have read on various sites about many services it seems like everyone is out to look for the Holy Grail but no such system like that can exist. If anyone knows of one please let me know. I may be a newbie but I don’t think there is a trading system that won’t ever have a losing month. We all need to be realistic here. If your trading is better than theirs then there is no need to look any further but if your trading sucked like mine did it may be worth checking out. Over and out!

 

[firedave]

wow... thanks dave, i didn't know about this fact. I will look more carefully and verify the result. But my question is: how do you know about TAPSEP's other performance result? They have one result page which lists all signals and loss/ profit in the month, I don't know if I can post the URL here or not, but the URL is http://216.73.104.102/data/Default.aspx?Mode=Regular&Month=4&Year=2005. To my knowledge, this page is honest.

It is already too late for me to change my decision, I already paid for Tapsep, believing in the performance of the service. So FireDave, if you can verify the actual performance for April 2005 of 59 pips, please keep me posted. I'd love to talk to the guys at Tapsep to set thing straight.

Hi sr3d, on TAPS.EP result page, there are 2 type of result, The_Best_Scenario and The_Real_Result_Using_Exit_Strategy_#1. The one that you give is a part of The_Best _Scenario result, which they stated in the result page I quoted :

TAPS E.P. result reflect the maximum move possible (best case scenario only) from our entry points during that days trading. Traders exit the trade from the given entry point using their own exit strategy.

So it mean it didn't reflect the real performance on TAPS.EP. If you scroll the page down, you will find the real performance of TAPS.EP using Exit_Strategy_#1. It mean the trader exit the trade according to what the signal give. Here is the link to April 2005 result using TAPS.EP real performance http://216.73.104.102/data/Default.aspx?Mode=Plus&Month=4&Year=2005 . Let me know what you thing. Just my two cents

 

[crystalo]

LOL :cheesy:


kinda weidr sr3,don't you think??

 

[mike4404]

Firedave? Do you think they are hiding something? I made sure my glasses where clean when I looked at the results page again and yup I definitely do see TWO RESULTS POSTED. When I took the glasses off I still saw it. You even said “If you scroll the page down, you will find the real performance of TAPS.EP using Exit_Strategy_#1”.

Just to voice your concern and answer some other questions I had I called up the guy at taps that I had been talking to and explained your question. The response I got was that the EP in taps ep is short for entry point not exit point. Exit strategy #1 calculations are for their clients who wish to follow and entry and exit strategy and regular taps ep is for clients that apply their own exit strategy and do not want to see how the taps exit strategy performed. I guess you feel it is a sin to show performance in two formats for two different ways of evaluating performance.

If there was something out of whack here I’d be the first to say it but it seems your question can be answered by simply reading the entire results page. You can also read the posts at http://www.trade2win.com/boards/showthread.php?t=14561&highlight=taps where a member here also says he has subscribed and verified that the results are accurately recorded and is happy with his service.

 

[firedave]

Hi mike, here are my reply.

Firedave? Do you think they are hiding something? Exit strategy #1 calculations are for their clients who wish to follow and entry and exit strategy and regular taps ep is for clients that apply their own exit strategy and do not want to see how the taps exit strategy performed.

No, I don't think they hide something, but I do think there is not enough information on the result page that can mislead potential client. 300 pips against 59 pips is very large different.

Now about the exit strategy. If we are newbie, what do we expect from a signal service ? Surely we need an entry point and off course exit point. I tried 10 days trial of TAPS.EP, so I know they provide both entry and exit point. And as newbie, I will follow those signal religiously.

I do agree if someone like to use their own strategy to exit. But again the first result page stated "BEST_SCENARIO". How can we tell the best exit point on the real time trading ? It's only occur on back testing or paper trading.

I guess you feel it is a sin to show performance in two formats for two different ways of evaluating performance.

Again I like to stress that my main concern is not about there is two format, but there is not enough infomation about that format, that surely will mislead any potential client. As a proof, sr3d already amazed with 300+ pips that he believed is the system result, but he didn't realize that the real performance is only 59 pips.

If there was something out of whack here I’d be the first to say it but it seems your question can be answered by simply reading the entire results page. You can also read the posts at http://www.trade2win.com/boards/showthread.php?t=14561&highlight=taps where a member here also says he has subscribed and verified that the results are accurately recorded and is happy with his service.

Yes mike, I already read the entire result page so I can give all my comments, but did sr3d read it before he subscribe ? He didn't know about the bottom page result.

Recorded accurately ? Sure, I tried the service too. That's why I know that the real performance is not on the upper page, but on the bottom. If all the client is happy, it's good to hear that and I don't have any objection about that. Please understand, my main concern is only there is not enough information on result page that can mislead a potential client. Hope this help. Just my two cents

 

[philhackett]

If you follow all of their trades you will lose money. They boast about success not failure. You do not need to use people like themem. Get a charting package which has Keltner Channels and I will explain how to trade very simply if you like.

Phil

Been looking at TAPS E.P. web site since receiving partner e-mail from Trade2Win.
Is any one using this forex trading system, if so what do you think ?
Do the mobile phone alerts come on time, I use orange which is not in there list.
The one off set up cost looks a bit steep.