Alpesh Patel - newsletter with daily setups

Alpesh Patel offers a daily trading tip service called 'Newsletter Pro - Forex Opportunities'. In it he covers Cable, EURUSD, FTSE index and Gold as instruments for potential trades.

I have signed up for 1 month + 1 week free trial and my term will start tomorrow. It would be great to hear from any T2W who has got any feedback on this service.

Many thanks in advance,
G

PS I did find some existing T2W feedback on Alpesh Patel, but the threads were several years old.

Well it seems like I am unlikely to receive replies on this one.

In any case, I started using the service this week. I will provide an update here after 2-3 weeks to let you T2W users know my impressions of the subscriber service.

Happy trading all!

-Bump-

I have been faithfully following the recommendations from this service for two weeks now (10 trading sessions). It's been a good exercise in discipline, as I needed to log onto my account each morning.

Here are some good points I have found thus far:
- The tips come out promptly and reliable each morning around 7.30-7.45am.
- The instructions for entry, targets and stop loss are very clear and easy to follow
- The method for managing open positions is also very easy and consistent across the trades
- Sign-up to the service is easy
- Cost is small - at £30/month
- The small market analysis contained in the email is also good and informative
- Support staff respond promptly if there is a problem

Before you sign up to the service, let me also share some of the downsides that I have come across! I have written to the staff for some clarification but am still waiting for an answer (this is the only time that they have NOT been responsive!) - once I have got I will share the (potentially) negative impressions that I have.

All the best,
G

Update?

Hi, what were the negative points that you found?

Thanks,

Phil

The staff replied to me for the questions I had.

I was planning on sharing the negative impressions in the next few days

I have now opened and closed 20 trades and also had some email exchanges with the staff from the service. In summary I have 3 main negative points. I made quite detailed explanations of these but figured they were too long for a post here on T2W but I have put them on my trading blog - the link to the post on my blog is here - I hope it's ok to to link to my blog like that

In summary my negative points would be:

1. Their method in measuring performance is very misleading, as the pips gained for winning trades are always counted by the pips gained by the better of the two portions of the position (in many cases, trades have two targets). Thus I would be careful in interpreting their statement that they are up 6,000+ pips over a 12 month period.

2. Partial position sizing is mixed together with full position sizing. Many gold trades are recommended for 1/4 or 1/3 of normal size - but these are bundled together with all the trades.

3.Some specific trade results seem a bit suspect (two out of the 20 trades that i took) and makes me question whether the newsletter actually takes its own trades.

I would love to hear feedback on these posts from the service so have emailed them the link my blog post and to the T2W post here.

Just a quick query, what makes you think Mr. Patel knows anymore about forex trading than you or I ? Ask yourself why he isnt busy trading his strategy and making a fortune as opposed to writing daily tips for a few quid.

mike. said:

Just a quick query, what makes you think Mr. Patel knows anymore about forex trading than you or I ? Ask yourself why he isnt busy trading his strategy and making a fortune as opposed to writing daily tips for a few quid.

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That's a really good point Mike. And I guess people should always ask this question when encountering people who sell trading tips.

I thought I give this one a crack, see whether I can get something out of it.

Dont mean to sound negative but signals are just personal opinions, and everyone has one of those.

Can't trade -so sell signals-simple

mike. said:

Dont mean to sound negative but signals are just personal opinions, and everyone has one of those.

Click to expand...

A bit like "bottoms" really -everyone has one

Lucky dip -perhaps