In this article, I want to talk about Forex Signals Provider Proof. What should you look for to build trust in the results? Are you going to get the same results reported by the signals provider? These are some of the the things you need to know before joining a service.
What Kind Of Forex Signals Service Proof To Focus On
Many people want to see proof in the form of a 3rd party account statement publisher. There are services like MT4i and MyFXBook that let you hook up your trading account to their site and report in real time what is happening in your account. These services can be used to publish the performance of the signals service in a transparent way.
While this seem like an excellent way to provide proof, there is one problem. The way I see it, the signals service needs to prove the pip numbers they report are correct. Using one of these 3rd party account statement publisher shows much more. You can also see money earned or lost as well as percentage gains or losses. The problem with these statistics is they only reflect what would happen using one risk management system with one account balance.
The role of a signals service subscriber is to duplicate as close as possible the pip numbers. But the winning or losses or the gains and losses in terms of percentage is determined by the size of your account and the money management strategy used to calculate lot size. Therefore, the statistics shown by the statement publishing services can be misleading and distort the decision making process.
Can You Copy The Signals Provider Results?
Seeing how many pips the signals service makes is one thing, but being able to duplicate those results is quite another. You need to make sure you can follow the signals correctly and get similar trading numbers. If you miss trades because the signals are delivered 24 hours a day, you are not going to get the same results. If you use unreliable trade copy software to get the trades, you are not going to get the same results.
Due to slightly different broker price feeds, slightly different spread sizes and slippage, a certain amount of difference between the signals service and your account should be expected. For these reasons, using different brokers will yield slightly different results, and this is normal. You would need to use the exact same broker to duplicate the signals perfectly.
Good Example Of Forex Signals Service Proof
Set And Forget Forex Signals is a signals service that shows photos of the trade levels and results. This Forex Signals Provider Proof shows the results they report actually come from the signals they give subscribers. And since you place trades only once a day and the signals are set and forget, it is simple to use these signals and duplicate the results of the signals.
Automated forex trading system based on the Ichimoku indicator. Expert advisor robot trader built for metatrader MT4. Ichimoku meaning in Japanese as ” one look” was created by Japanese newspaper writer Goichi Hosada.
Unlike statisticians or mathematicians in the industry this was a work of person who used his expertise and few assistants and created technical indicator that is so robust and strong in today’s trading. There is strong pipwinner system built around this type of trading and it compliments other trading systems in place. Take a look a the video here.
The Ichimoku indicator is used to measure short term time frame momentum along with areas of support and resistance as they occur in naturally. The standard Ichimoku is comprised of five lines:
— This is a line made up by using high and lows for the 7 to 9 periods. This can be interpreted as short term moving averages.
— This line is same as the above Tenkan-Sen but it consists of longer time frames. Many traders use cross overs of kijun and Tenkan as entry and exits points .
The cloud is made up of space between the Senkou Span A and Senkou Span B. Senkou Span A is calculated by subtracting : (Tenkan – Kijun)/2 and the Senkou Span B is calculated by (Highest High- Lowest Low)/2 over typically 52 periods.
The crossovers are used for entry and exits points.
— Lastly the Chikou span is created by plotting recent price movement twenty six periods behind the latest closing price.
www.traderschoicefx.com Trade your Metatrader EA at FXCM through TradersChoiceFX with an exclusive new lower minimum deposit. No trade restrictions! FXCM is one of the largest forex brokers on the planet. By trading through TradersChoiceFX and FXCM’s UK branch you’ll realize a host of benefits including: -Tight spreads as low as 1 pip on the majors during normal market conditions -Straight Through Processing without any dealer intervention -The ability to hedge your forex trades (go long and short on the same currency pair) -A segregated and secure account -Trade on Metatrader with as little as $1000 On top of that you’ll get a huge cash bonus on all of your forex trades. Imagine receiving a rebate of $4 per standard lot traded. If you traded 200 lots a month you’d get a bonus of $800! That’s $9600 per year! Click here to take advantage of these benefits now: www.traderschoicefx.com/fxcmuk-live FXCM UK accepts all trading strategies including scalping and automated trading systems. FXCM is a completely conducive environment to many Metatrader EAs (forex robots), including many of the more popular Metatrader expert advisors. Open your account now and begin trading with total forex trading freedom! Click here to get started on the application: www.traderschoicefx.com/fxcmuk-live