Feb 27 2009
Unfortunately its been a tough 2 months for FX Pro Trade and, although they’ve just announced an additional system and money management system, i think i’ve given it a fair enough go now.
In total i’ve followed it for 4 months – November, December, January & February. December was a great month with 1858 pips profit but the other 3 months have been very poor so i’ve decided to stop trading with it & replace it in the portfolio with LS Trader.
If you know of LS Trader you’ll probably be aware that it made an incredible 1500% for its subscribers last year & this is already 25% up. This is more in line with their published expectations of 150% profit per year & they readily admit that last year was an exceptional year.
They feel that it has been a ‘difficult start to the year’ & feel that settled trends are starting to appear in the markets now – if 25% in 2 months is a ‘difficult period’ this could be very interesting.
Theres not much actual work involved – email received Sunday evening advising you which new trades to enter (depends on size of your bank how many markets you will trade), which trades to exit & to moves stops if appropriate. Everything takes about 15 monutes and your done for the week. I’ll update how i’m getting on every Monday
Today saw 2 further trades close for FX Pro Trade punter – gbp-chf & usd/cad – both lost for a total of 400 pips. Losses now at 1086 pips – not looking good for the second month running.
Feb -1086 pips
Tough times for FX Pro Trade at the moment. A EUR/USD trade closed out this morning for a 138 pip loss. This takes them to -686pips for February.
February -686 pips
After a 157 pip winner on Friday the 2 remaining trades closed out for a total of 405 pips loss, leaving February with a total of 548 pips loss so far.
They sent an email over the weekend to advise they are looking at an additional service which deals with the eur/usd & gbp/usd. Apparently it has produced 1000 pips profit over the last weeks 2 so we’ll have to see how that pans out. Its an intra-day service so, unfortunately, it wont suit everyone.
Just wanted to pass this onto you – FX Pro Trade emailed me last night re a spread trading company called VDM Global Markets @ http://www.vdmgm.com
They’re currently running an offer to match deposits up to £200 which you can actually draw out ( as far as i can see) after you’ve placed 13 matched trades. They also accept trades down to 10p a pip apparently which is great to start with to get a feel of ‘real money’ trades without too much stress.
I’ve applied for an account today & am waiting for it to be opened so cant confirm the info FX Pro Trade have given me is correct but sounds excellent if it is. I’ll let you know when ‘ve got it up & running.
FX Pro Trade are officially staying out of the market until next week – they have given 4 trades but arent counting them on their results list so no real point in either trading them or recording them here. They didnt feel wise to trade over last couple of days due to interest rate announcements and Non Farm Payroll announcement today.
The last 3 of Januarys trades closed with an overall gain of 148 pips which left the month 711 pips down in total.
The 1st trade of February closed today with a loss of 300 pips.
Feb total -300 pips
Smallish (118 pips) win for Pro Trade today – still leaves them 859 pips down for January. Recent months have been literally up then down so fingers crossed for February.
January -859 pips
FX Pro Trade are currently 977 pips down for January and I’ve got to say their trading leaves you in a bit of a dilemma. Last week for example I got up & looked at a trade which was about 200 pips in profit – the actual profit target was 300.
What do you do? 250 pips is a lot for me – anyone probably so i took the profit. The trade carried on for a bit further but then did a u-turn eventually hitting the stop loss. So my results compared to theirs differ by 500 pips.
Now in the long term staying in ALL the trades may be more profitable but the same thing happend this morning – 150 pips up with a profit target of 211 so i took the profit – the trade is now 200 pips down. Hopefully it will turn around for them.
Jan 20 2009
Posted by admin as Results
4 big losing trades for FX Pro Trade in the last couple of days – going to take a lot to turn this round for January but, as i’ve said before, i saw them have a great December with 1900 pips to this was almost inevitable.
Bank now £4127 -873 pips down