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User reviews
Saturday, 16 January 2010
Written by Raymond from USA
Okay, my continued FXCM review.
Let's start with I am not a big fan of trading signals - nothing beats a trader who does thier own homework, creates a plan and sticks to it. No trading signal can figure my R:R better than me.
That being said, I know some people use them and swear by them. FXCM seemed fairly easy to read, use and comperhend. The thing I liked the best was that not only did it tell you the pairs, BUY or Sell, but it also told you what trading stradidgy it was useing. ie Break out, momentum, or range. That was nice - I could add evaluate my R:R better knowing that information.
Of course, like most trading signals it enters trades to late or to early. holds positions to long and I was able to beat it by 27% over 6 weeks. Still all in all it was profitable and I guess if you like trading signals it is as good as any.
On a side note - they have a section in the trading signals where twice a day (once at open and once intraday) that one of their people provide anyalisis on the pairs - post thier charts and list all resistance support and pivot points. And tell you thier idea of where the targets should be.
I found this more useful than the trading signals. I would never enter a trade or exit a position based off of someone elses aynalisis; but it was nice to have a second opion (so to speak) on positions I was already in or thinking of entering. I would say I picked up somewhere between 25-35 pips a week just from comparing my charts to thiers. And that adds up over time.
