free Forex signals - why ?

[TCBGT3]

newbie question - started trading a month ago, so far successfully but with small amounts and probably more luck than judgement !

Something that has interested me on this forum is the free Forex signal that are posted - I'm intrigued to know why someone would want top give away such information if it was correct ?

That said I back tested (just a week mind) signals for GBP/UDD EUR/USD for Fonforex and Forex2profits and have to say they do seem to post more winning trades than loosers ?

I notice their stops are wider than their limits though - a basic rule of trading broken is it not ???

Anyway as a newbie I'm tempted to trade to the signals - is that a good idea ? 3-ducks has been my method so far, combined with a clear plan and some discipline it has worked well so far but involves much time waiting for indicators to fall into place

any advice appreciated

 

[Lord Flasheart]

people do it for many reasons.Mainly to get you hooked in. What do the signals work out to be in pips per day. I post most of my trades on the live forex thread as i feel it improves my discipline, after all we all hate to be wrong and we look good whenit goes right.

Flash

 

[TCBGT3]

average for the week I have paper traded them would be 40pips

certainly more winners than loosers but with 40pt stop vs a 30pt limit the loosers hit the average harder

why hook people in though ? do they run the thread then stop and start charging ? if so and it has been proven to consistently make pips I guess that's fair enough and I would have no issue with paying for GOOD signals

To a newbie it's a minefield ! I have had a great start, have read lots on these forums and many other places, looked at countless systems that all promise millions for nothing but can't help feel so far that most traders seem to try too hard, some of the charts and systems I have seen are unbelievably complex , is it really worthwhile - simple trends seems to point the way to making pips - nothing simpler than 3 ducks for example and it does seem to work

 

[Lord Flasheart]

average for the week I have paper traded them would be 40pips

certainly more winners than loosers but with 40pt stop vs a 30pt limit the loosers hit the average harder

why hook people in though ? do they run the thread then stop and start charging ? if so and it has been proven to consistently make pips I guess that's fair enough and I would have no issue with paying for GOOD signals

To a newbie it's a minefield ! I have had a great start, have read lots on these forums and many other places, looked at countless systems that all promise millions for nothing but can't help feel so far that most traders seem to try too hard, some of the charts and systems I have seen are unbelievably complex , is it really worthwhile - simple trends seems to point the way to making pips - nothing simpler than 3 ducks for example and it does seem to work

most of my trades are trendlines and pullbacks. I spent yuears looking at everything and came back to square 1.I post most of my setups and charts on live forex thread

 

[cristiano]

most of my trades are trendlines and pullbacks. I spent yuears looking at everything and came back to square 1.I post most of my setups and charts on live forex thread

That's a pretty honest comment - I'm still testing/paper trading my system so still some way behind TCB, but find the 3 ducks has really helped put a lot of the other stuff in context.

I have also spent ages reading books and through various threads and posts from guys such as yourself - and the overriding feeling is that I know nowhere near enough. Hopefully enough to build some kind of system to start from though...

Do you think the 3ds is something that should be used after having worked through a lot of other techniques (on the basis of its simplicity)? My point being that without understanding everything else, there's no way to know to go back to square 1. Cos that's where you are.

 

[4xpipcounter]

Flash, that's exactly why I post mine. I only have an interest in trading for myself, but there is still something that caters to the ego when you're getting it right, and it makes you take a closer look when you are wrong.

people do it for many reasons.Mainly to get you hooked in. What do the signals work out to be in pips per day. I post most of my trades on the live forex thread as i feel it improves my discipline, after all we all hate to be wrong and we look good whenit goes right.

Flash

 

[4xpipcounter]

Cristiano, there are so many methods and indicators. When I first started, I considered and experimented with many different indicators, and tried to adapt many methodologies. For me, I found the MACD to be useless. The same could be said for bollinger bands and trendlines. Eventually, I found that the ichimoku cloud was catered perfectly for me, along with the stochastics. I'm a math nut, and so I also came up with a proprietary set of S&R indicators that I use to trade with. This ended up being the setup that was perfect for me. Others trade using Fibos, pitchforks, 3 ducks, MT Predictor, etc, etc. As you continue to experiment and dabble, you will find what is right for you.

That's a pretty honest comment - I'm still testing/paper trading my system so still some way behind TCB, but find the 3 ducks has really helped put a lot of the other stuff in context.

I have also spent ages reading books and through various threads and posts from guys such as yourself - and the overriding feeling is that I know nowhere near enough. Hopefully enough to build some kind of system to start from though...

Do you think the 3ds is something that should be used after having worked through a lot of other techniques (on the basis of its simplicity)? My point being that without understanding everything else, there's no way to know to go back to square 1. Cos that's where you are.

 

[pssonice]

" I notice their stops are wider than their limits though "

u can calculate by this : every pip has a value of 12,50$ on the future market
How many times can u lose 30 * 12,50$ wo running into bancrupcy?

 

[Lord Flasheart]

That's a pretty honest comment - I'm still testing/paper trading my system so still some way behind TCB, but find the 3 ducks has really helped put a lot of the other stuff in context.

I have also spent ages reading books and through various threads and posts from guys such as yourself - and the overriding feeling is that I know nowhere near enough. Hopefully enough to build some kind of system to start from though...

Do you think the 3ds is something that should be used after having worked through a lot of other techniques (on the basis of its simplicity)? My point being that without understanding everything else, there's no way to know to go back to square 1. Cos that's where you are.

I found I knew too much, so now I find the simpler it is the more I make.Your all welcome on the live fores thread. All trades called live by many traders.I call many losers,but my r/r ratio makes sure im well ahead

 

[aspex]

Surely the reason traders are able to share their actions is that the fx market is too big for our joint actions to have any effect on the total.

 

[cristiano]

Cristiano, there are so many methods and indicators. When I first started, I considered and experimented with many different indicators, and tried to adapt many methodologies. For me, I found the MACD to be useless. The same could be said for bollinger bands and trendlines. Eventually, I found that the ichimoku cloud was catered perfectly for me, along with the stochastics. I'm a math nut, and so I also came up with a proprietary set of S&R indicators that I use to trade with. This ended up being the setup that was perfect for me. Others trade using Fibos, pitchforks, 3 ducks, MT Predictor, etc, etc. As you continue to experiment and dabble, you will find what is right for you.

That's what I'm hoping - the key thing I've learnt so far is that reading the theory behind all these methods is one thing, understanding and interpreting them is something else!!

Flash - have been looking at your thread, really good to see how my entries/exitss compare to the more experienced. Miles off at the moment! (well, pips maybe)

TCBGT - are you still profitable? Have you stuck to your plan so far?
C

 

[4xpipcounter]

Re: " I notice their stops are wider than their limits though "

It depends on the total equity in the account. You cna bankrupt an account if you are only making 10 cents per pip. It all comes down to the basic three all traders need-- a fully developed methodology, proper margin management, and the ability to manage self and emotions.

u can calculate by this : every pip has a value of 12,50$ on the future market
How many times can u lose 30 * 12,50$ wo running into bancrupcy?

 

[milanoagency]

I need indicators or signals to win hangseng....pls info

 

[4xpipcounter]

Re: One of the most talk about stock picks can be right here! At 400% gainers

LOL. Love it. At least we'd get something for signing up. Actually it would have to a lot of chewing gum. I got a lot of grandkids.

"Free trial, Limited to First 100 People!"
free bananas +
free chewing gums

 

[4xpipcounter]

This guy didn't even say "hello". 15 posts, 15 cut and pastes. Why don't we all report him so the administrators really get the message.