There are literally 100s of online forex alert signal providers out there; just searching on Google
for forex alert will return 100s of different providers. It is unfair for me to pass comment on all the
alert providers with the exception of saying if they use technical indicators to generate the alerts
they are crooks and they know it.
Just tell me what indicator can measure the potential for change in the fed funds rate, or predict
when, how much and to what extent the balance of payments will affect the exchange rate. On
top of this I can tell you no mathematical indicator can predict human / market behavior, the way
in which the market anticipates and reacts to global economic events.
Again they have great websites, and really good past performance figures along with lots of good
relevant information. One of the alert providers I used had written their “proprietary”, (black
magic), indicators into a popular forex chart service, to generate the buy and sell alert signal.
It all looks good and I would even go as far as to say it is professional, there is always some one
on the other end of the phone. They make it sound like the have discovered the secret math
formula that has unlocked the secrets to unlimited profit potential in the forex market.
All you have to do with this software it automate it to open and close your trades for you and you
will have an endless stream of wealth flowing to you every month all for the cost of their monthly
subscription. Oh even better they run a managed account service based on their alert signals, I
could just give them my money and let the profits role in.
Oh thank you god, thank you for letting me find their web site, finally I am going to be able to
retire in a couple of years. Again the poor, unfortunate aspiring forex trader has been conned by
the sharks, these people know their alerts do not work and they still sell them. They know they do
not work but they vehemently defend there products on the forex trading forums. They know they
are stealing people’s often hard earned money and preying on people’s aspiration. To me these
people are nothing less than sick, and are little different to drug dealers. The unfortunate thing is
it is completely legal for these people to sell you lies and part you with your money.
As said before it is impossible to predict future price based purely on historical price and this is
exactly what these online buy / sell alert signal people are trying to sell you.
It would not surprise me if the proprietary, (black magic), indicators these people are using to
generate their buy / sell alert signals are something along the line of a 5 / 13 EMA cross over alert
on an hourly chart.
These people are complete idiots who think the rest of the world is a stupid as them.
Well I used and paid for their service for several months trying my utmost to make profits on a
demo account, unsurprisingly this did not happen. Each time I phoned them for support or advice
they were always so supportive and polite, what a bunch of lying idiots.
The one good thing that came out of this experience was realizing I could write my own buy / sell
alert signals. These people made it sound like they were unbelievably educated and clever to be
able to program chart software with buy and sell alert, but I was working as a software engineer, I
knew how to program. I had done the forex courses and I knew about indicators, risk
management, lot size etc, etc, etc. These online alert people were nothing special I could do what
they do.
I quickly got hold of charting software that could handle buy / sell alert scripting and began writing
my own alerts. This next section of my forex education introduced me to massive on line
community of people trying their utmost to program profitable buy / sell alerts into forex charting
packages.
This is the community of people who have been tricked by the online forex marketing scams,
brokers, courses and all the other sharks on the internet. These people have been blinded by the
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online forex marketers and trapped in the world of technical analysis. They stumble around in this
cruel world bumping their heads on one failed system after another.
I know there are 1000s of you people out there; I can see the 10 x 1000s of users registered on
forex forums. I can see from your forum posts you have been tricked by all the forex sharks on
the internet. I have been in your boat, worked with you and contributed to your efforts to crack the
secret forex money making indicator.
This book is my effort to help the many people out there who have been tricked and are in the
process of giving all their money to the sharks, not to mention their emotions and minds. If you
are trying to trade forex using technical analysis and you are reading this then this book has
fulfilled its purpose.
You are probably going to have to experience these things for yourself before you yourself know
them to be true, (this is completely natural), I would not expect you to behave any other way, but
at least you have read what I have to say and will be better prepared to deal with forex sharks.
The next chapter will deal with my experiences writing indicators and collaborating with like
minded people on the internet’s many forex forums.
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