has anybody tried this out???

[wassabi]

hi,

i've been playing around with different automatic trading systems and signal services for a while now, and i came across this free signal service:

http://www.forexpros.com/currencies/eur-usd-technical

has anybody had a chance to try this out and see if their algorithm is any good?

thank you!

[herry_fxhope]

No i don't try it.

[Pinalli]

No idea dear. I never go for such system. Building your profitable FOREX trading system will take time but it would be worth enough.

[TrendLineTrader]

Seems like a poor trend-following strategy to me. They clearly specify that they are basing their trading decisions of Moving Averages and Indicators. While there are practical system that use these kinds of technical tools, this one is clearly a trend-following one.

I would start to consider using it when I have a backtest, on few pairs - and you should demand it from any system you wish to trade.

[summan]

Hmmm...will post result later nxt week

[Sofia]

Summan, one week has past... where are you? In my opinion these are quite risky signals to sue. therefore put your own brain and trade wisely.

[JHayzament]

Have not tried these signals, but trendlinetrader's analysis seems to be on point. With a trend following system you have to be careful when the market gets choppy even if you have successfully back tested the system.

[samjoseph]

No, I had never found such free signal service for automatic trading system, but I looked at the link provided by you and saw that it show poor quality of trading trend. I suggest not to use this type of free service in compare to purchase service.

[Sofia]

Well, search some other sites like mataf or fxstreet or actionforex. You would get plenty of information there.

[Pinalli]

i usually follow my broker signals to avoid any confusions and dilemma.