Feed back about Fxmaster

[Fx35]

Hi,
I have been looking for a service that can send me forex signals in the form of entry/exit points. I found many sites but in most cases,i read in different forums that the performance they post is different from the actual signals they send.

I find a good one that's supposed to be posting real sites. www.fxmaster.net
I need to confirm such performance from any members here who may be receiving these signals.
Thanks in advance

 

[Old_Bob]

I can confirm that they post real results for the last 4 months since i started receiving their signals. Profit made for November so far is 680 pips.

 

[alliance]

Check them out on this link which was provided by Welshmal on another thread......

http://www.forexreview.cjb.net/

 

[Roberto]

Old Bob, I've been thinking about them for many months, after seeing the site alliance mentions above, mostly trying to decide whether I can bring myself to "buying signals" and whether I'd really be willing to trade on them if I did. Would you mind telling us, please, what proportion of their signals arrive between say 8.00am and 10.00pm CET, and what proportion at night?

 

[Dave1971]

I too would be very interested to hear the experiences of someone who subscribes to them. The qouted results on the website are pretty impressive,(over 7500 pips in 12 months, max drawdown 110 pips) and the fxreview link shown earlier suggests they quote honest results.

Unless anyone has some negative feedback to report I would suggest they are worth a punt at $150 pcm, particularly as cable went through 1.87 today! (Shame I missed it)

 

[Roberto]

I can't complain about cable or the Euro/$ today, I must admit. My reading of that website was a bit different from yours, Dave, it seems. I was very impressed if the figures are true (and they have apparently been vouched for by a couple of people, here and elsewhere), but I made the max drawdown a lot higher than that (?)

 

[FetteredChinos]

i would have thought so.

110 pips even with a solid scalping strategy is pretty phenomenal going.

i'd give my granny's right leg for that sort of stability.....

 

[Dave1971]

I can't complain about cable or the Euro/$ today, I must admit. My reading of that website was a bit different from yours, Dave, it seems. I was very impressed if the figures are true (and they have apparently been vouched for by a couple of people, here and elsewhere), but I made the max drawdown a lot higher than that (?)

Roberto, I was just going by the link to the forexreview site. The table they produce shows FX Master as the 6th system down, the final column reading 'Max Drawdown in pips' with FX Master showing +/- 110? (with the worst offender being Systemforecast at +/- 1,020 pips - Ouch ! ) Have I misread it or do they only refer to losses on closed positions not the max drawdown on that position?

Dave

P.S. just re-checked their own qouted results for September which show 5 losses in a row amounting to 370 pips, albeit on the back of 2 winners at 410 pips

 

[alliance]

Dave:
Remember that the review site is "unofficial" and may actually be only ONE person's experience. Like Robert, I read the drawdowns on the website as being much higher than the review suggests, but then the review isn't dated! No doubt the fact that they are prepared to post so many (on occasion) consecutive losing trades adds to their "honesty" rating!

 

[Old_Bob]

max drawdown 110

This's not max drawdown. This's max risk per a single trade. The max drawdown as mentioned by Dave is 5 losses in a row amounting to 370 pips. Anyway,i believe that i can make a very good profit following their signals on long term. Their history doesn't show any month ending with loss. I can verify the last 4 months since i subscribed to their signals but i think their history since November 2003 is true.
So far,my profit from their signals is more than 2,000 pips.Even if they ended one month in the future with average loss,i will keep following their signals

 

[Dave1971]

This's not max drawdown. This's max risk per a single trade. The max drawdown as mentioned by Dave is 5 losses in a row amounting to 370 pips. Anyway,i believe that i can make a very good profit following their signals on long term. Their history doesn't show any month ending with loss. I can verify the last 4 months since i subscribed to their signals but i think their history since November 2003 is true.
So far,my profit from their signals is more than 2,000 pips.Even if they ended one month in the future with average loss,i will keep following their signals

Thanks for clearing that up Old Bob, I think I will give them a try. I will post some honest results for anyone else following this thread over the next few weeks.

 

[Roberto]

Even if they ended one month in the future with average loss,i will keep following their signals

Sure, you have to look at it that way, if you're going to do it at all, I think. As with anything, the largest drawdown is the yet-to-come one. You try something like this having assessed it and had it independently verified first, and it wouldn't be logical to give up just because it has its first losing month. The main initial thing is to be able to do it with position-sizing such that there's a very high expectation of covering the cost (which certainly wouldn't be difficult in this case) unless you happen to start with their first ever really bad month. Given their stated history, personally I'd "allow" them two bad months back-to-back, but I admit that more than that would make me really suspicious.

 

[alliance]

Remember that the review site is "unofficial" and may actually be only ONE person's experience

Following my comment above, I em@iled the review site and asked the question. I have c+p'ed the relevant answer below:

"About FX Master, I found at least 3 people reported about their good performance and I take it as its review. But I don't have any personal experience with them".

Dave:
Looks like u might be onto a half decent one then

Another site that may be of interest to anyone looking for this type of thing is www.aspentrading.com which (unusually) offers a free two week trial. Tho signals are sent by em@il which can be a bit dodgy time wise depending on the service from ur ISP...the back-up website (members section) is pretty damn good I think. I only stumbled across it y'day so that's as much as I can tell u, but with the free trial u can try it urself :cheesy:

 

[firedave]

Hi guys,
Sorry for jump in, I just like to know your comment on my maximum drawdown calculation. Here is what I do to calculate it. I take FX Master performance for August 2004 as an example. You can see they have consecutive 6 losses with total of 430 pips. But when I sum all the profit and loss since the begining of that month until the 6th loss, it come up only 30 pips loss. Added 2 more trades and give a cumulative of 90 pips loss., that is why I said the maximum drawdown is +/- 110 pips. And at the end of the month, the final result is still profit 295 pips. Please give me your comment if what I do isn't right. Thank you in advance.

Hope it will help

 

[Roberto]

Welcome, Firedave, and thanks very much for your explaining how you've worked it out. I've looked at your site many times, and it's nice to see you posting here.

You're working out drawdown as from the starting point at the first of each month, then ... it makes complete sense now, of course. I was meaning "maximum drawdown" from any random starting-position. All is clear.

This looks like a much better service than many others I've seen promoted and advertised. You'd agree with that, presumably?

 

[firedave]

need to test it

This looks like a much better service than many others I've seen promoted and advertised. You'd agree with that, presumably?

Hi Roberto,
Thank you for your reply. This service seems quite good from its performance and from no-negative comment yet. Add Old_Bob to the reviewers and I now have 4 people saying good on this one. One thing we should notice is there will be more than 2 open trade at a time. I count 4 open trade at a time on August 2004. So we must have enough margin on our account. Beside that, I don't find any negative comment yet. I do really want to try this service and proof it to myself. Maybe later and hope somebody will do it sooner

ps. Please use www.fx-review.com for the link to the site, because *.cjb.net link is full with advertising

 

[alliance]

Hi David,
Let me add my welcome to u....glad u followed the link I too was looking @ maximum consecutive drawdown starting from a 1st losing trade ty for the info! (The published results from fxmaster are far in excess of aspentrading)

 

[Roberto]

Maybe later and hope somebody will do it sooner

I've never subscribed to anything like this before, but I'm really thinking about it. The thing holding me back at the moment is that I might be away in Russia for half of December in which case it might be better to start it in January. I'll decide when I know my dates for sure, and keep you posted.

 

[alliance]

Update on aspen trading site:
I had em@iled the site with a question ..or two.. and on the reply, guy says that tho the site says free trial for 2 weeks..its is actually free to all thru til 31/12/04.

 

[firedave]

November 27 Update

Hi guys,

I just updated the site adding MAXIMUM CONSECUTIVE LOSS review, Currency Trends and FX Crew review.

Hope it will help us.