ProSignal Changes Their System… Surprised?
You may wish to read our latest update on ProSignal.
Today I decided to visit the ProSignal page to see how these guys were going over the last few weeks.
And, sure enough, they have changed a few things (which came as no surprise to me considering they were using indicative data to back-test their system).
Here were some of the changes…
BEFORE:
> They once tracked the EURUSD and the GBPUSD both on the 15 minute chart, and when my paid trial period was over they had just issued out the EURJPY (on the 15 minute) to trade too.
AFTER:
> Now they have dropped the GBPUSD (obviously wasn’t doing well) and are now using the USDCHF on an hourly chart!
BEFORE:
> For the EURUSD & GBPUSD they stated that users should use a 40 pip initial stop loss for new trades (I think this was the same for the EURJPY, but have forgotten).
AFTER:
> Now they have blown this out to 75 pips on the EURUSD, 100 pips on the USDCHF, and 85 pips on the EURJPY!!!
For some strange reason they still claim that the two currencies make 14,000 – which was their initial claim with the EURUSD & GBPUSD currencies (of course it is on indicative data – don’t say you haven’t been warned!).
I don’t know what ProSignal thinks they can accomplish by chopping and changing their rules. Obviously they will try and see how this next round goes and if it fails tweek it some more and do it again.
Now, there’s one thing I must admit amidst all this bagging: their forex education section (which is available to all once you sign up and pay the trial fee) is very good however be sure to check out Forex Television for their great free technical analysis education on the forex market as it is similar.
Tags: Forex Signal, ProSignal
June 29th, 2006 at 8:31 pm
Your information on ProSignal is clearly outdated by at least 18 months. I have been with them since the beginning (April 2003) and there has not been any changes to their trading system since July 2005. Their real time results are nearly 3000 pips profit since then and that’s NET of spread. Time to update your website with facts. You are doing a dis-service to ProSignal and many forex traders.
June 30th, 2006 at 7:46 pm
[...] Thanks to a comment by Don Guy on my second post about ProSignal I thought I would offer an update to ProSignal so as not to deter any future forex traders from my old posts. [...]
January 16th, 2007 at 9:27 pm
ProSignals results on their website are not correct. I used their signals all through 2006 and they were down close to 500 pips for December and around the same amount for November. Now the results are showing they were up for these two months? I don’t care if they started a new system or not. The fact is their old system was flat or down for 2006 and they are showing they made a 100+% profit??!! Are you kidding me? They are definitely hiding the real results.