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FX Dealer Performance

  • #1
  • First Post: Jul 16, 2004 7:12pm Jul 16, 2004 7:12pm
I try to open thread for fx-dealer discussion. Hope everybody who had comment on their service could post theirs here. Enjoy it
  • #2
  • Jul 16, 2004 8:06pm Jul 16, 2004 8:06pm
Quoting firedave
I try to open thread for fx-dealer discussion. Hope everybody who had comment on their service could post theirs here. Enjoy it

My trial with fx-dealer will start on monday.
  • #3
  • Edited 10:23pm Jul 16, 2004 9:40pm | Edited 10:23pm
I have been given a pretty good feedback by Sidekick about Fx-dealer signal. Which made me register for 2 weeks trial for 29 bucks. I will be posting their results too from next week.

Here is what sidekick wrote about FX-Dealers.
FX-dealer is very good as a signal provider. However, you must be able to monitor the fx-dealer terminal 24hr/day. The signals are sent through a terminal program that you have to download and install.
I noticed that their strategy is mainly based on fib retracements. And when a position is becoming a losing position (about -20pips) , expect another signal coming in order to hedge the losing position.
e.g if long GBP/USD is going against you, they will probably sent out a long USD/CHF.
Good advice: As soon as you receive the signal, don't enter it immediately. Yet try to enter at a better rate. At least 5pips or more. Except if the signal is meant to hedge another position.

Their charting software is not that of a big deal. The mechanical trading systems you can implent are only cross-over systems.And you're not able to implement custom indicators.


Mkcky
Lets Make Money!!!
  • #4
  • Jul 17, 2004 9:15am Jul 17, 2004 9:15am
It will be interesting to see how emolina and Mkcky trades compare. If they are still offering the trial after yours have both expired I'll sign up myself and post results here to. At the moment I trade futures but perhaps I will open an ACM demo account for the purpose of trading FX Dealers signals.

Thanks again to Firedave and Mkcky for the 'low down' on these forex trading systems.
  • #5
  • Jul 18, 2004 12:43am Jul 18, 2004 12:43am
Quoting Mkcky
The signals are sent through a terminal program that you have to download and install.

Mkcky
Do you get alerted about the calls that come in? Sound alerts?
  • #6
  • Jul 18, 2004 3:18am Jul 18, 2004 3:18am
Quoting fx_electron
Do you get alerted about the calls that come in? Sound alerts?
Yes, it's a wav file that is played when a signal comes in. You can replace it by any wav file of your choice.
Subdir dealercharts1.0x\sound\ring.wav
  • #7
  • Jul 18, 2004 2:40pm Jul 18, 2004 2:40pm
Quoting sidekick
Yes, it's a wav file that is played when a signal comes in.
Thanks for your info...
  • #8
  • Jul 19, 2004 5:43pm Jul 19, 2004 5:43pm
Any signal for today ?
  • #9
  • Jul 19, 2004 6:10pm Jul 19, 2004 6:10pm
Fx-Dealer performance as of 7:00 P.M EST

I followed their rules:

1. Target 1 = 20 pips then moved the stop loss of the remaining lot to entry.


USD/CAD = Buy at 1.3088 - Open

GBP/USD = Short at 1.8732

= Cover at 1.8712 for half of the position

= received e-mail to cover at 1.8702 for the other half.

EUR/JPY = Buy at 134.5

= Sell at 134.7 for half of the position

= Moved the stop loss to entry for the other half and was stopped
out

GBP/USD = Go long at 1.8685 still open

I'll will update both acetrader and Fx-dealer at the end of the week.
  • #10
  • Jul 19, 2004 6:19pm Jul 19, 2004 6:19pm
How about day by day performance ? If it not so trouble for you
  • #11
  • Jul 19, 2004 6:58pm Jul 19, 2004 6:58pm
Quoting firedave
How about day by day performance ? If it not so trouble for you
I would second this request. And thanks a lot for today's report, Mdaisy. It's very helpful.

BTW, Mdaisy and other subscribers to this service: do you find it difficult to follow their signals and place your trades? Do you usually have enough time to enter the trades at the recommened price levels?

Thanks again. Your report demonstrates clearly what 'exit-oriented' trading is all about...
  • #12
  • Jul 19, 2004 7:07pm Jul 19, 2004 7:07pm
Quoting fx_electron
I would second this request. And thanks a lot for today's report, Mdaisy. It's very helpful.

BTW, Mdaisy and other subscribers to this service: do you find it difficult to follow their signals and place your trades? Do you usually have enough time to enter the trades at the recommened price levels?

Thanks again. Your report demonstrates clearly what 'exit-oriented' trading is all about...

I'll update at the end of the week all the trades for the week not just the summary.

I don't find it difficult to follow their signals since I stay at home 24 hours a day. Their signals are on time and I can enter the trades at the recommened price levels.

Hope this helps.
  • #13
  • Jul 19, 2004 7:41pm Jul 19, 2004 7:41pm
Quoting mdaisy
I don't find it difficult to follow their signals since I stay at home 24 hours a day. Their signals are on time and I can enter the trades at the recommened price levels.

Hope this helps.
OK, thanks.

How do you manage staying awake when it's necessary? Do you use a cell phone to wake you up or only their software audio signals? Or perhaps you are using the cell phone as a backup wake-up thing?
  • #14
  • Jul 19, 2004 7:47pm Jul 19, 2004 7:47pm
Quoting fx_electron
OK, thanks.

How do you manage staying awake when it's necessary? Do you use a cell phone to wake you up or only their software audio signals? Or perhaps you are using the cell phone as a backup wake-up thing?

I'm using the e-mail notification sound and set the volume to a bit higher. Another technique is I sleep at 10:00 EST and set the alarm clock at 11:00 then check and then adjust the alarm clock for another hour and so on and so forth until 6:00 A.M EST.

I'ts very stressful but it works for me.
  • #15
  • Jul 19, 2004 7:57pm Jul 19, 2004 7:57pm
Quoting mdaisy
I'm using the e-mail notification sound and set the volume to a bit higher. Another technique is I sleep at 10:00 EST and set the alarm clock at 11:00 then check and then adjust the alarm clock for another hour and so on and so forth until 6:00 A.M EST.

I'ts very stressful but it works for me.
Cool, thanks for sharing your technique. Good luck with your trading.
  • #16
  • Edited 4:06am Jul 20, 2004 2:38am | Edited 4:06am
Fx-Dealer perfromance for 19 July

As per rule I have traded two lots, first lot is closed at +20 pips. Secound lot is closed only when I get a signal to close it or if hits default Take profit, which is 75 Pips.

Buy USDCAD at 1.3088 (Trade still open): +1 +1 = 2 Pips
Sell GBPUSD at 1.8732 TP 1.8702: +20+32= 52 Pips
Buy EJP at 134.50 TP 135.10: +20+60= 80 Pips
Buy GBPUSD at 1.8685 SL 1.8645: -40-40= -80 Pips

Total profit Trading 2 lots is 54 pips. Total profit per lot is +27 Pips.


Alternate Statergy. (This is unoffical Statergy, not provided by Fxdealer)
Some people may not have luxury of trading two lots per trade or may think that closing half trades at +20 pips is not a good idea due to risk/reward ratio (risking 40 pips for gain of 20 pips)

The alternate way to trade 1 lot and not to close at +20 Profit. Results are as follows.

Buy USDCAD at 1.3088 (Trade still open): +1 Pip
Sell GBPUSD at 1.8732 TP 1.8702: +32 Pips
Buy EJP at 134.50 TP 135.10: +60 Pips
Buy GBPUSD at 1.8685 SL 1.8645: -40 Pips

Total profit: +53 Pips.

On my comptuer the dealers chat is always on and speaker volume is set high. I also receive email on my yahoo ID, Yahoo messenger plays music when email arrives and my third backup is cell phone. I receive the yahoo email and message on cellphone almost at same time. I didnt really have to watch the PC screen all the time.

Unlike Unigma, none of the Fxdealer signals have come at time of high volatlity so there was no pressure to execute trades in hurry. Infact I did wait for some time and got a better rates for two trades.

Mkcky
Lets Make Money!!!
  • #17
  • Jul 20, 2004 3:22am Jul 20, 2004 3:22am
Hi Mkcky & mdiasy,

I have also subscribed to fx-dealer for two week trial. i have a live account in pro-forex.com. But unfortunately that website trades only on EURUSD, GBPUSD, USDJPY and USDCHF currencies. SO im missing the trades on other currencies. I wud like to know which trading service are you using for your trades.

Thank You
  • #18
  • Jul 20, 2004 3:27am Jul 20, 2004 3:27am
Thank you mkcky for your detail report
I'll be waiting the next one.

Also a good performance by fx-dealer
  • #19
  • Edited 3:47am Jul 20, 2004 3:32am | Edited 3:47am
Quoting vamsi
Hi Mkcky & mdiasy,

I have also subscribed to fx-dealer for two week trial. i have a live account in pro-forex.com. But unfortunately that website trades only on EURUSD, GBPUSD, USDJPY and USDCHF currencies. SO im missing the trades on other currencies. I wud like to know which trading service are you using for your trades.

Thank You
Hi Vamsi,

I have two accounts Refco and Oanda, To test Fxdealer signal, I am using Refco. if you want to test rest of currencies open a demo account with Oanda, Advantage are:

1) Jave base client dont have to download anything in your computer.
2) No expiry on Demo account.
3) You can reset Paper money to any amount any time.
4) The best spread anyone can offer eg. Spread for EUR/USD is 1.8 Pips.
5) They have all the currencies you need.

Best of Luck for Testing.


Mkcky
Lets Make Money!!!
  • #20
  • Jul 20, 2004 3:53am Jul 20, 2004 3:53am
Quoting Mkcky
Hi Vamsi,

I have two accounts Refco and Oanda, To test Fxdealer signal, I am using Refco. if you want to test rest of currencies open a demo account with Oanda, Advantage are:

1) Jave base client dont have to download anything in your computer.
2) No expiry on Demo account.
3) You can reset Paper money to any amount any time.
4) The best spread anyone can offer eg. Spread for EUR/USD is 1.8 Pips.
5) They have all the currencies you need.

Best of Luck for Testing.


Mkcky

Thanks for your info mkcky, I wud like to discuss few things about this with you, Can i please chat with you on yahoo messenger if you dont mind?

Thank you
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