Paying for signals
Over the last 12 months I have lost quite a lot of money at this job, so I tried paying for 2 services.
The first was a New Zealander called Max McKegg. He offers twice daily reports and signals on the four majors plus the AUS/USD and the Kiwi.
I actually lost money by following him, but that was my fault because I did not follow his top deal of the day every every day for the full six months, but I did folow him to the letter over the whole six months on paper. The result was 187 pips profit over six months. As I was only dealing in 0.1's that wouldn't have even covered the fee I paid him.
I then tried the Bulgarian Angel Kolev for 3 months. If you look at the performance figures that he publishes on his site he seems to be constant and impressive.
The problems with him were two fold. The normal service offers two reports on the four majors each day, but the platinum service which he kept on pushing and I signed up for meant that you were connected by both email and ICQ and he could give a "buy now" or "sell now" signal at anytime of the day or night.
This meant that to be effective you had to be sat at your computer for 24 hours a day just waiting for the signal which invariably came without any warning. So, often by the time you had got the signal to "buy", "sell" or whatever the market could have already moved 10 pips.
As part of the signal service he told you where to put your stops and where to take your profit, but the next problem that I discovered was he woud say things like "Well we narrowly missed getting stopped out there, but we are going in the right direction again" when I hadn't narrowly missed it at all, I HAD BEEN STOPPED OUT. So this meant that I realised that his broker was obviously feeding him different numbers to me, so I had to stick 5 pips above and below whatever he said, so very often when he claimed a 30 pip kick out on a stoplosss effectively it wasn't a 30 pip kick out for me - more like 40.
After a while I gave myself a good hard slap and a good hard talking to and came to terms with what I now preach.
If any and I mean ANY of these people were any good then they wouldn't tell you about it, they would simply be turning over vast amounts of profit per week. If they really and truly had confidence in themselves they would have mortgaged their houses and be smacking 1/2 a million at a time on every currency that they forcast on and be multi-millionaires, and they wouldn't tell a soul!!!!!
You see I have my own beautiful little plan now. It is a gem!!!! I have spent damned near a full year, day after day, analysing and decompiling reams and reams of numerical data and have found my love, my sweetheart, my angel that is repetitively effective 8 times out of ten, and even on the other two times when it isn't effective your losses are small. Profits not massive, but regular, and the more I use it the more confident in it I become. I started using 0.1's then up to 0.2's now I am up to 0.3's. But I am sorry, there is no way in the world that I am going to tell you what it is. You must be joking! You can tickle me to death, but I aint a spillin da beans!
So why do these guys tell?
Whether we like it or not (and I am sure that more than a few will disagree with me)
Bottom line 1 - Their prophecies can't be any good or they would all be multi-millionaires sipping vodka martini's by the side of a pool in their own mansions on the Bahamas.
Bottom line 2 - If you follow any of them what you are effectively doing is allowing somebody else to gamble with your money. A bit like walking into the bookies and offering your stake to somebody else to follow their hunch with.
But as hope to all demoralised souls I will say - there are, within the data, signals and signs which repeat over and over again with amazing regularity. Find one that you are comfortable with and get confidence out of. Get your own system that works for you, because they are there!
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