New Year New Forex Signals

Well it’s officially 2008. NASDAQ just tanked, oil hit $100 & poised to go higher, and Pakistan is in turmoil. Other than that, things couldn’t be better. My new year’s resolution is to try a new Forex Signal provider every other month and see which one will make me the richest faster (or perhaps poorest). Some of the Forex Signals I’d like to try out for myself include

1. TEAM APHID’s Team Aphid Bird (TAB)
2. 5Dimensions Forex System
3. ProForexIndicator’s Cable Indicator System (CIS)
4. ProForexIndicator’s Premier Indicators
5. Jeff Park’s Octave
6. ForexSoft’s Series of Indicators including GoldNStream

Now, if you have already tried any of these and they don’t work, please give me a heads up in the comments below, you’ll save me time. Otherwise, I’d really like to test the effectiveness of these various signals for myself, as some of them have good reviews, and some bad, but none all bad.

ProForexIndicator is an indicator service I am familiar with from a few months back, I wrote a blog post about my trial period with them, and it was profitable for the most part. But what struck me odd was I had profits on some days where they themselves reported losses, which didn’t exactly turn me off to the service, but make me question how I could read their signals one way (someone with not much Forex experience) and they read it another. This same company has also recently put out “PREMIER SIGNALS” for GBP/USD and USD/CHF, which are sent to your mobile and email. I already asked if this is based on their Cable Indicator System, they said no, it’s completely different. So, I know the Cable Indicator System is very effective, has some losses, but they are greatly eclipsed by it’s wins. I’m looking to see if the same goes for their new system as well, seeing as the past performance data shows they’ve made a considerable amount of pips over the past year. I am skeptical though about any backward testing, anything can be manipulated or sugar coated to squeeze in pips here and there, but I’m not saying this company is dishonest, there’s just no telling about the honesty of ANYONE’s statistics and revenue reports, just first hand knowledge. Stay tuned for full reports on this system.

Forex Signal Review Site

Another website I found useful, and it’s free (for the most part) is collective2.com, a site where forex indicators are reviewed in forward testing and with real money. Team Aphid is one of the premier signal providers. ForexProIndicator is not on this site at all, is that a bad thing though?

Think of us as an independent “trading system auditor.” We’ll investigate which trading systems are profitable. Then you can set up your own personal hedge fund, and have trades placed automatically in your brokerage account. A growing number of brokers are C2-compatible: OptionsXPress, OpenECry, FXCM, Gain Capital, IFX, FuturesBetting, Interactive Brokers…

At first glance Collective2 seemed amazing, but it does have a lot of resemblances to ZuluTrade, which isn’t so great, especially the whole automatic trading functions. Will you ever wake up to an empty account? Who knows. You need to do the research yourself, but I will say that Collective2 does help you weed out some losing indicator services that you might not have the ability to do yourself. As you can see, December was an awful month for most indicators, it’s a tough month to make money in, especially with longer term trades, scalping is another story. Collective2 allows people to make comments about systems, but again, who knows whos saying what and if it’s true, I think we’ve run into this problem with some other Forex review sites.