TradeProfits

The last day with signals from CityPips

Posted on 24. Mar, 2009 by admin in forex signals

Actually I promised to post this, some days ago, but since I managed to pour a beer into my laptop last Friday, everything didn’t go according to my plans. Anyway, here is my final update on the signals from CityPips.

From last signal day, we had one pending short order on GBP/USD. Later that evening I got an email telling me to cancel this order. So I did. The next day, that is 01.21 GMT + 1 (after midnight), I got the next signal, which was a long market order on GBP/USD. About an hour later, this one hit the stop loss, for a total of – 28 pips. Fortunately I was sleeping at this moment, so I didn’t take the trade.

The next trade was a long market order on USD/JPY. After a little while, we hit the first profit target of 30 pips. The mail came right on time, telling me to move S/L to B/E and close half of the position. I closed one position, moved my stop loss on the second position, and then it turned around and hit the stop loss. A total of +30 pips for this trade. Actually CityPips sent me another mail, about 30 minutes after the last email, telling me to close the remaining position, but I was not at my laptop at this time. So it was possible to get out of this trade with a total of close to 60 pips. I will count this as + 60 pips, since this is the signal we got from CityPips.

Some hours later we got another trade, which was a long market order on EUR/JPY. I got in at the exact same price as they did. 10 minutes later, and I got another mail telling me to close the position for a profit of + 15 pips. Another hour passed, and I got another signal. This time it was a pending order to sell AUD/USD. However, this order was cancelled shortly after. Overall, it was a good day for CityPips with a total profit of 47 pips.

Total pips for this week: + 73 pips

Overall, I have been very pleased with CityPips. The performance for this week is rather good. What I like most about the service is that it is easy to follow. It is impossible to misinterpret the signals which they send, and they seem to be pretty good at what they are doing. Although the membership fee is somewhat expensive, I like the way it is set up. You pay a one-time fee of $200, and then $50 the following month. This is certainly a competitive price. However, you still need a large account size, if trading 1 – 2 % of our account per trade, should pay for the service, and give you some profit in the end. The bad thing about this is that you need to be glued to your computer, so you are ready to take the trade when it hits your inbox. However, a full subscription to their service will allow you to recive the singnals on SMS as well. Looking at their performance page, you will see that the results they have posted match my results (or at least the signals which I recived), which obviously also is an important element. If any of you guys have been with CityPips for a longer period, please share your experience.

Related posts:

1. More signals from CityPips
2. First trade from CityPips
3. FxBossTrading – 3. update
4. Second & Third trade from CityPips
5. Free trial from CityPips

Tags: CityPips, forex signal