My Personal Review of a Brand New Forex Trading Signals Service:

Well, as many of you will know, I have been testing the effectiveness (or otherwise!) of a new Forex trading signals service prior to its release to the general public. After around 6 months of me trying out this service, I thought it about time I gave you some more information on how I have been doing with it.

The results I have posted here on this site on a week by week basis are accurate as to how much profit or loss I had from actually placing trades, based on the signals provided by this service. A quick tally of these results reveals I am currently in profit by 518 pips over this 6 month period. As you can see for yourself, I did have a few weeks when I came out at a loss, but a few weeks that yielded very high profits, combined with a more modest profit level on other weeks, returned a significant overall profit for trading in the second half of last year.

Anyone interested in using Forex trading signals that boast achievable profits, without unrealistically high claims, will be interested to know that it is shortly to be opened to a small group of members. This is intended to act as a final testing phase of the system before being released on a wider basis, and as such new members can get in at a 50% discount on their first month during this time. Full price details are yet to be released, but will appear here as soon as they are.

The service provides signals during the London session only, between 7am and 4pm at the current time in the UK. They have 2 levels of membership, which is designed to cater for someone who will only want to make occasional trades on less risky transactions, and those for whom trading is pretty much a full-time pursuit. Those in the second category pay more for their membership, for which they have access to a number of additional trades. These additional trades are riskier in general, and it was these trades I found to be responsible for some of the outstanding weeks of profit I experienced. If you are serious about making a real income from Forex, trading signals are a good way to earn while you learn, and I would strongly suggest you pay the extra for the advanced signals offered by this service.

In a typical days trading, I have been receiving between 4 and 8 trades. All trades are opened and closed the same day, this service does not deal in trades that you leave on overnight. For each signal they give, you get the currency pair, the buy or sell price, the point at which you should close your trade and take the profit, the stop loss and any time limit on placing the trade. The information is delivered in a clear and concise way without any extra non essential details, allowing you to digest the information and get your trade on as fast as possible without distracting you from Forex trading.

Signals are delivered to members by simultaneously posting them in the members area of the site and by email. Due to problems with reliability, the owners have opted not to deliver their signals via SMS, however it is possible to receive SMS notification of when a new trade has been posted and emailed to you via integrating their signals with Twitter. Provided you live in a country where Twitter supports SMS notifications themselves, this works quite well. For those in unsupported countries this may be a drawback, although it has long been possible to configure free email services like Hotmail to send SMS notifications (subject to reliability of course).

For those fairly new to Forex trading, signals and how to place a trade, some useful information is provided in the members area regarding brokers and spread betting companies you can use to place your trades. Email support was responsive and quick, although I only contacted them with an issue once. All in all I found their website easy to use, and registration with Paypal was quick and hassle free. I personally found it easiest to read new trades as they are posted in my email, rather than keeping their website open (I generally keep my email open in a tab all day once I get started anyway).

Most of these details of the system are insignificant though, if the signals themselves don’t yield profitable trades (as is the case with a few Forex trading signals services I have tried in the past). I am pleased to report that, on the whole, I have found using their signals has added an extra dimension to my day to day trading. Whilst not suited to everyone, their advanced signals can make a significant positive difference to anyone’s bottom line. For the novice, the basic signals package offers a good way to get a feel for trading with minimal risk, whilst the advanced signals give an experienced trader daily opportunities to make good returns they might otherwise have missed.

All in all, my experience of using these Forex trading signals has been positive, and I am more than pleased by the quality of the trades provided. While the occasional weeks when I failed to make a profit from it are always disappointing, the losses have never been anywhere near catastrophic and are to be expected. With 518 pips profit under my belt, I am confident that this service provides a good balance between achievable profits and manageable risk levels, and am looking forward to continuing my trading with them throughout 2011.

For the record, I am myself in no way connected to or affiliated with the ownership and management of this Forex trading signals service, and these views form my own personal and impartial opinion.

Thanks for reading this review, and here’s to a profitable 2011!