Archive for 'Review'
Currency Meter 2.0 from Henry Liu
Posted on 16. Dec, 2009 by Jakob.
In this post, I wrote about a free currency meter, developed by Henry Liu. It is a great extra little tool to have, when you trade the forex market. However, it did have some minor issues; specially there was a problem with the size, which gave some users problems to see the actual numbers. In the new version you are able to change the size of the currency meter, so this is no longer a problem. In addition to this, the commercial banners have been removed, the CPU load and tasking have been improved, and a text field has been added so you can add your own symbols. I have tried it and it definitely a lot better than the first version. For the time being, the Currency meter is still free. Check it out here.
Continue Reading
Investimonials – A Review Site from Timothy Sykes
Posted on 25. Nov, 2009 by Jakob.
Timothy Sykes is a well-known pennystock trader. I have mentioned him several times here on TradeProfits before. Last night I got an email from Tim about a new site called Investimonials. The site looks cool, and navigation is easy. At the moment, there are more than 3000 financial “products” added to the site, just waiting to be reviewed; that is, brokers, blogs, websites, DVD’s, books, newsletters, software and freebies. As the site was launched last night, there are only a few reviews at this moment. However I expect that Investimonials will take off fast, due to the IV buck system. You can earn IV bucks from signing up, referring friends, writing reviews, etc. 1 IV buck equals $1 and you can use the IV bucks to buy real products.
Continue Reading
FXIntel.com – Compare Broker Spreads Live
Posted on 24. Nov, 2009 by Jakob.
FxIntel is a new site which lets you compare several different spreads from various brokers. The data can be tracked in real time, or you can look at the minute, hourly or daily average if you prefer. The great thing about this is that most brokers’ state “spread from”; this is at times very misleading, as the majority of brokers tend to increase spreads tremendously around fundamental news releases. One example is Oanda and their 0.9 pip spread on the EUR/USD; around news releases, the spread on EUR/USD is often increased to some 10 pips or more. Now you check it out, without the need to sign up with a broker first, and then get disappointed afterwards. The best (lowest) spread on FxIntel is highlighted in green, so you can easily get an overview. FxIntel currently tracks 13 different brokers, and the site is still in beta. My guess is that they will add more brokers in the upcoming days. Obviously you need to be aware that spreads is not the only aspect which you need to take into consideration when choosing a broker. The forex industry is stuffed with scammers, and new brokers come and go all the time. Proper due diligence is needed before you throw money into an account balance. Check out FxIntel here and rate the site below the comment field.
Continue Reading
MetaTrader 5 – First Impression
Posted on 26. Oct, 2009 by Jakob.
I have downloaded MetaTrader 5 and played around with it for a while now. Overall it seems to be very similar to MetaTrader 4. There are some small changes in the look, but not a lot. One thing I noted right away was the addition of new time frames. Basically MetaTrader comes with the following:
Continue Reading
The Truth about ForexPeaceArmy – An interview with Bill K.
Posted on 22. Oct, 2009 by Jakob.
ForexPeaceArmy is probably the largest site online devoted to reviewing services related to Forex Trading. The site has been around since 2006, back then known as forexbastards. ForexPeaceArmy is much more than just reviews of forex signals. They offer free daily signals and market overview, posted by a guy known as Sir Pipsalot. They offer a weekly market forecasts, written by the currency expert, Sive Morten. They offer help to individuals who have been scammed by brokers, signal service “companies”, etc. In general, ForexPeaceArmy is an awesome portal for anyone interested in forex trading.
Continue Reading
Get Fundamental Forex News Free and Fast
Posted on 06. Oct, 2009 by Jakob.
A few days ago I wrote a post about a free forex newsreader. It is working properly but not the best option if you like to trade the news, as it extracts the information from forexfactory. Of course you have the option to go with one of the more expensive services, but what if you could get one for free, which is almost just as fast as the paid services, all for free? Well now you can. The site is called NewsDataReport and I must admit that this is rather cool. I tried it for the first time today, when Canadian news was released, and it works absolutely perfect. Now only is the numbers stated on the page, but it is also called out loud, so there is no need to look at the screen. This is definitely the best free solution out there, for those of you who want to trade the news releases. The only negative aspect of the site is that it does not call out all major news. Besides from that, I cannot think of any. Thank you to ForexCrunch for the information about this truly great site. Check out NewsDataReport here.
Continue Reading
September in Review
Posted on 30. Sep, 2009 by Jakob.
The performance of September is so far, my worst month of trading as you can see on my performance page. First of all, the month started off horribly with the NFP. This Friday was one big whipsaw, and I managed to take too many trades within a few hours. At the end of the day, I was already down by 1.89%. Not exactly the best way to start a new month of trading. Then I had two trades which was going good for some pips, but when the stop loss was moved to break even, the pairs turned and I got stopped out of two trades with 0% profit. Afterwards came another two losing trades, and I was down by 3.89% for the month. But then things started to look better. I got two pretty good entries on GBP/USD and GBP/JPY respectively. However, due to earlier losses and a technical picture of the charts, I increased my stop loss on these two entries to 200 pips, rather than my typical 100 pips. In spite of this I still managed to pull in 0.68% on the GBP/USD trade, and 3.12% on the GBP/JPY trade. This brought me back, close to 0% for the month, but definitely better than a loss. Yesterday, I took a new short trade on EUR/JPY, but this one got stopped out for a loss of 1%. The last trade for the month was on EUR/USD, and was closed out today for a profit of 118 pips or 1.18%. This brings me to a total of 0.09% for September. Not amazing, but definitely better than a loss, and considering how the month started out, I must admit that I am rather pleased.
Continue Reading
Final update on FxBossTrading
Posted on 26. Sep, 2009 by Jakob.
Almost a week has passed since I started a trial with FxBossTrading. As they probably don’t issue new trades during the weekend, I will consider the trial period to be over. The last two days, Thursday and Friday, no new signals were issued. That leaves us with a total profit of +51 pips as mentioned in my last post. I am aware that this can simply be a bad week, but in order to reach between 1000 – 2000 pips as they claim to have done in the last couple of month, a week like this sure does make it difficult to achieve. Anyhow, you can keep on following their progress here on their MT4 Stats page. As I got this week for free, in return of an honest review, I will not complain. But if I had to pay $300 in order to become a member, I would definitely reconsider.
Continue Reading
FxBossTrading – 3. update
Posted on 24. Sep, 2009 by Jakob.
Since the last update on FxBossTrading, a couple of signals have been sent. First of all, as I wrote in my last update, I got a new signal, when they closed the other one (a pending one, that is). This trade was triggered and went into profits. I got a new email shortly after, telling me to close half of the position and move stop loss to break even. Afterwards the trade went back down to hit the stop loss; hence a profit of 25 pips. Another trade was issued on GBP/USD, a sell stop order with a stop loss of 75 pips. The trade was triggered, and went to our stop loss; a loss of 75 pips. Another buy stop order on GBP/USD was sent, but I got another email, to close this trade again, before it was even triggered. The last signal I got was a sell stop on GBP/JPY with a stop loss of 100 pips. The trade was triggered, and went into profit. After 50 pips I was told to move stop loss to break even and to take profit on half of the position; 50 pips. Five minutes ago, I got an email to close to rest of the trade, for an additional 95 pips (Total 145 pips for this trade)
Continue Reading
FxBossTrading – 2. Update
Posted on 22. Sep, 2009 by Jakob.
I just wanted to give all of you guys a short message about FxBossTrading. The first trade I got from them yesterday was cancelled before it reached stop loss; a loss of 44 pips. In the same email, a new trade was issued, which is a long trade on the same pair. Due to the nature of their service, I cannot disclose the level, but I will let you all know when the trade either goes into profit of loss. This new trade also has a stop loss of 100 pips, and no message about TP levels.
Continue Reading
-
7 Tips & Tricks For Trading Forex
-
Trading Forex – EUR/USD Up or Down?
- Forex Signals on Twitter
- Don Steinitz’s HAS MTF Hedge EA = ForexRobotNoLoss?
-
mt4pips.com – A new Site from the BabyPips family
-
zenfx: 90 is clearly a strong level in AUD/JPY, however I...
-
Charlie Clemett: We are still not able to connect with our IPhones ...
-
Cliff: Just got an unauthorized charge on my MC from Glob...
-
-
Andy: We have also been using PivotFarm now on our chart...
