In today forex faq, I will like to clear some doubts among readers of my blog regarding the forex signal lab.
Question 1: Are the signals provided by you?
All the signals provided in the forex signal lab is not be me. It is a friend that I know early January 2012. He is a real trader and he has been trading for years with great results.
A lot of you has mistaken that the signal is provided by me and I will like to take this opportunity to clarify this with you.
In fact, this is what really happen. On January 2012, I received an email from a forex signal provider asking me to recommend his signal service to readers of my blog.
As I do not like to recommend any stuff that I myself do not know whether it works or not, I requested for a trial. The signal provider gave me 2 months free trial and to my astonishment, the signal provided by the service loses 45 trades out of 52 trades for the first month.
I immediately rejected them but something came to my mind. There must be some good signal providing service that really works and therefore I went in search for them.
I tried out 6 highly recommended signal service online and 4 of out 6 produces 2 consecutive months of losses. From this, you can see that most of them are created by marketers who are out to make money out of us traders especially new traders.
I continue to run the 2 signal service for another 4 months and finally I found 1 that makes me 6 consecutive months of profits and for the past 6 months, I have been exchanging emails with the provider and from the conversation, I can tell that he is a knowledgeable trader and eventually we became friend.
Therefore I requested him to allow me to give you guys signals from the signals that he is providing and he agreed. (one signal every week) That is the signal you guys are receiving now.
From my experiment of 6 months, I must say that most of the stuff online are junks created by marketers and not real traders.
Question 2: Is it advisable to trade them as they have low risk reward ratio?
The difference between my trading method and my friend is the risk reward ratio. All my trades has risk reward ratio of at least 1 : 2 while the trades by my friend has low risk reward ratio.
However I decided to provide you guys with his signals because of the high winning percentage as well as the consistent profits it has produced for the past 6 months.
Therefore I will strong advice all of you to trade with the signal provided.
Question 3: Why don’t you provide us with your signal?
There are also people who ask me why I do not want to provide signal for you guys. This is because it will be unfair for those who has purchased my forex street uni course traders.
I personally is using the strategies taught in the 2 courses and therefore if I provide signals, it will not be fair for those people.
I hope that this post will clear the doubts that you guys have about the forex signal lab. Do feel free to ask me question about the forex signal lab by posting your comments below. You can also tell me whether you like this service or not.