King Forex Signals Robert Grespinet Program

[forexgenie]

Thanks Fratan,for the post,
Why am i not surprised,more evidence how Felix manipulates things for his own greed and has integrity.
He is a vampire preying on vunerable people who have worked hard and saved up to try forex trading so they can make a better life for themselves and there families.
Finally we are all seeing what a scam bag this Felix/dimitri is.
I"m so happy that i opted for the Forexmuse/Safwans service at least he tells it like it is and the only innovator.
Can't wait for his new tech service and he proves it with a real brokers record.

[forexgenie]

I meant to say Felix/Dimtri has NO XXXXXX integrity.

[tjames35]

whats the new tech service saf is coming out with?

[forexgenie]

Originally Posted by tjames35

whats the new tech service saf is coming out with?

Hey tjames35,

got a email from him a couple of weeks ago mentioning the new tech service starting soon,email him he should reply...looks interesting on the face of it.

[tjames35]

is that the one where rob auto clicks mbtrading navigator platform?

[forexgenie]

Originally Posted by tjames35

is that the one where rob auto clicks mbtrading navigator platform?

i'm not sure,awaiting some more info

[tjames35]

I dont know either but they were supposed to come out with that service in March. Maybe there were some legal issues

[magister]

Further to an earlier post about misreporting of stops. I did finally receive an email from Rob about this. As dimitri "Traded large sums with him", and knowing him as someone who carefully pays attention to detail, I don't believe he didn't notice the issue concerning hard stops....but take it at face value...he started a website, got alot of hits, and when he got a good subscriber's list he started to upsell to it....hardly surprising really, just wish someone would stand behind what they sell a bit more....neither him nor his sidekick Crazy Cat would touch Rob's signals with a 10-foot pole...even Crazy Cat took Kumar's signals before he departed instead of rob's.

Anyhow here is Rob taking 1 example, claiming to ordinarily get about a 0.2 pip spread on a hard stop...so on a long trade, if the price moved against him, the stop would be triggered on the ask price not the bid, however the closing of the trade or selling of long position would be executed on the bid, naturally.

So sure 0.2 pips no biggy, he makes big pips so of course he pays no attention to these trivialities....wrong...unfortunately anyone who uses an ECN knows that spreads vary...and unfortunately for Rob....the one example of the lowest spread he could find also indicated that he had a 0.5 pip deviation on entry, which we could assumed was not rounded up or down against him, thus 0.5 pip spread on entry must be added to the 0.2 pip spread on close.

As pips are counted by 2 lots per trade we therefore have to take 0.2+0.5 pips which is 0.7 and multiply it by 2, thus 1.4 pips per trade need to be deducted for each trade. A month or so ago, this would be 20-30 trade or 28-42 pips deducted from his reported totals per day.....multiply this by 20 days average per month....560 - 840 pips per month.....which means his February and March performance would be half what it is reported as...except that he was trading GBPJPY which has a much bigger spread.....so actually I find it difficult to believe anyone made much money ever.

He did say that he would factor in a handicap, but he did it for a few trades and then seemed to stop when he felt the eye wasn't on him....recently I noticed he posted a limit order with a 5 pip handle...

Sell GBPJPY 60/65

several minutes later he announced that he was filled at 65...that is a great way to ensure you get your performance up for the month...and he has had a poor month...he is very sporatic these days.

Anyhow enough of this, here is the email.


"
----- Original Message -----
From: cg
To: Dmitri Chavkerov
Sent: Thursday, May 10, 2007 9:36 AM
Subject: Re: My brother, this what happen to stops on bids and ask under normal conditions

JUST GAVE U BELOW A TYPICAL FILL OF A 60 BID SL GOT FILLED AT 602, NOT CAPTURING WHAT U GUYS REFUSE TO UNDERSTAND.
IF IT MAKE YOU FEEL BETTER ADD WHATEVER U LIKE ON EVERY STOPS

----- Original Message -----
From: Dmitri Chavkerov
To: cg
Sent: Thursday, May 10, 2007 9:15 AM
Subject: Re: My brother, this what happen to stops on bids and ask under normal conditions

Yes, I completely understand this part. So it takes you out if BID reaches certain level...but at the time it takes you out, you still have to pay the ask price. so if your stop is 62, and bid/ask is 62/64. It will take you out then and there, but will charge you the ask price of 64.... Every time you buy, you pay the ask price, period. You can make all kinds of fancy stop/losses and put them on bid or ask, but the time you buy back currency, you still have to pay ask prices, and if you stop was originally on bid, you have to pay 2 pips extra for the ask...

Does that make sense? do you agree?

cg wrote:


06:22:21 Order FILLED at 1.99602 USD (#1675188 STOP LOSS BUY 2.0 mil. GBP/USD1.997 IF BID => 1.996) - Position #1308306

06:14:03 Order ACCEPTED: #1675188 STOP LOSS BUY 2.0 mil. GBP/USD @ MKT IF BID => 1.996 - Position #1308306

06:13:33 Order FILLED at 1.99545 USD (#1675187 SELL 2.0 mil. GBP/USD @ MKT) - Position #1308306
"

[Trader01]

Hi magister,

I agree with much of your comments. I've been using Rob's service for a while now. For me it is a valuable service in terms of market info, and insights about various strong support and resistance levels. I have never been able to make money on a consistent basis using his signals alone though, despite a lot of effort. The stop reporting point is a good one. I too, have never understood how a hard-stop on a long position for example, is always recorded as if the broker will give you the Ask price, when in fact they give you the Bid price. This adds between 1.5 to 3 pips loss to each of the 2 lots per trade. So when a 2 lot trade is stopped at at "breakeven" on a hard stop, this is recorded as no pip loss, when in fact the loss is between 3 (2 x 1.5) pips and 6 (2 x 3) pips assuming no slippage. Even trades that are winning, are usually stopped out eventually on a trailing stop, but again the same 1.5 to 3 pip per lot discrepancy exists between the actual and reported results. It is not uncommon for 15 trades to occur per day. So 15 trades x 2 lots per trade x 3 pip discrepancy = 90 pips difference on that day. So a reported +30 pip day, may well be -60 pips on your account. Even with a 2 pip broker like FXCH, the discrepancy will be 15 x 2 lots x 2 = 60 pips, and then there is the added difficulty of not being able to place close stops on most brokers.

Having said all that, I still think this service is valuable, and believe Rob is a genuine guy. He probably makes money because he has a much lower spread and commission rate compared to other traders, and is taking a lot of trades outside those given in the room. I basically use this service as a confirmatory signal for my other trading strategies. I suspect others do the same.

[magister]

Yes you are not alone....when I raised my voice about this issue months ago, Rob didn't answer, all that happened is that other members started to tell me about there own systems....how they filter Rob's calls thru their own technical systems, seemed alot were using Woodies CCI, there were others....I think they told me about it cause they had been thru the same, and knew it would make Rob mad if I complained and he would get fed up and leave the chatroom. But personally I think that it is really lame to pay for something that doesn't work and to try to make it work with something else. Basically it doesn't do what it says on the label. Personally I quit my job back in February to trade these signals full time. Well 4 months later and I am going back to work. I did learn alot about trading, and I have no doubt that eventually I will come back to the market and make alot of money. I did learn some bad habits however like how to overtrade while with Rob and this is something I need to unlearn, and actually the best way to solve this is to step away from the market. Not that I won't ever scalp, but there is a time and place for it.

Actually I tried a few other signal services and I basically have come to the conclusion that I won't get anywhere following signals. Sitting by the computer all day waiting for signals is almost as bad as having an office day job, espcecially when the signal provider disappears for a few hours and then returns to tell you they were at the beach for a few hours....like what a piss-take. I perfer to follow a system, make my own calls, or just do the news, forex just lost the whole purpose for awhile. It is easier to make money in my normal line of work than take signals.