Posts by "alan111s"

jacek

I appreciate your reply. At least I know that it's not just me !

As you say, there is no 'magic bullet'. I was already starting to 'just treat a signal service like an advisory service to help identify opportunities which then you trade yourself.'

I still have issues with timing and patience and picking the right trades. However, I'm not losing money, just not making any !!!! When I say that I have probably executed more than 500 trades since I started 6 months ago, I must be making money - am just giving it to the broker. LOL.

I think you have helped me answer my own question. Instead of blindly entering trades, I am going to combine AL's ideas with some technical analysis and only when I get a confluence between the two will I enter a trade.

I think also that AL bases his trades on known fundamentals but sometimes market sentiment changes and this can have a profound impact.

Like last night for example, I nearly got stopped out EURJPY but I dropped my SL by 10 pips (don't normally do this but saw downside momentum had slowed seriously around 103.8) As a result I rescued it, and got out around breakeven. But I had to stay up late nursing it.

I also had a order setup for AL's short EURUSD but it never activated. AL's EURUSD short 'worked' because his lowest entry point was 1.3450 and the market only just spiked it. This is a great example where AL can say 'hit all targets' but many subscribers who set this up to automatically activate would probably have set the level higher than 1.3450 and missed the entry. If they were monitoring the market closely, they might have seen the market reverse and activate it manually at a price close to 1.3450.

I made up for it by managing a quick scalp of GBPUSD for the final 30 pips push up to 1.57.

Morning all....Thinking of selling AUDUSD at .9825 with stop .9850 (dynamic resistance from .9985 through .9880 highs) for an initial target of .9710, but hopefully spike through that......

Guys

I noticed there are discussion about Ashraf's trades and wanted to add my 2p.

I've been a subscriber for about 3 months. I was a little sucked in by the hit targets stuff but to be honest, I monitored his calls for about a month (while away abroad) before using my own cash and a lot were great calls. I am a newbie trader, so I needed a little help mainly, but I already knew about risk reward ratios and position sizes so not completely green. However, after the first couple of weeks I was just about breaking even.

Anyhow, everything changed for me when I realised that I could use market orders rather than trading spot. When AL issues his trades, and gives a range, to minimise risk and get a better risk-reward ratio, I normally set up a limit order for the highest entry point if it's a short and a stop order for the lowest entry point if it's a long. You would be amazed at how many times I've thought that a particular trade will never activate, but somehow they mostly do activate! The exception to this is when I can't get a trade in quickly enough or the email is late etc., then I make a judgement call whether to go market.

On a EURUSD trade I tend to go for the maximum exit limit and any other pair, I go for the minimum exit limit. Good examples of that is I made $ on Fridays CADJPY and USDCAD, even though they retraced before hitting the max limit.

My main frustration with the service is that I am in Melbourne, Australia. Recently, AL's trades have been published during NY session which is well after midnight here, which is way too late for me. Sometimes they are still valid the next day in Asia, but often they are no longer valid e.g. entry points missed, trades completed etc.

Before using the service, with my own trading, my account was 20% down. Since using it I am 25% up, despite messing up the odd trade myself.