What is PracticalPips
In short, we are FOREX signal providers. We learnt about forex the hard way…as you probably also have by now. Sure, your forex broker offers you training, setups, the “lowest spreads available” and possibly even tradings signals. Do you think your forex broker expects you to win?
Guess what – he knows you are likely to lose. In fact, your losing trades are the back-bone of his business. How you say? We’ve all heard the stats – 95% of new traders fail (and this is true folks). Your broker knows this too. In fact, he’s banking on it. If you were to consistently win, your forex broker would have to pay out your profits to you on a regular basis and he’d have no business left – your losses are his profits. Your forex broker will have a few clients (the magical 5% who win) that he needs to pay out. He is able to pay out this elite 5% easily through the losses of the 95% and still keep a heavy chunk of profits. Forget spreads – the real money brokers make is through convincing the losers (the 95%) to keep adding real money to their accounts which is quickly traded away.
We’re not saying forex brokers are evil. We make use of several different brokers ourselves and have great relationships with them – we just think its important that traders are aware of the conflict of interest here.
What do your trade signals look like
Here is one from February 2015 as an example:
You get entries, profit targets, stops, comments and an explanation as to why we’re taking the trade.
Why is PracticalPips.com different?
We provide reliable, high-confidence forex signals. We’re not going to bombard you with forex signals – only a full time trader could cope with that but we trade both our flagship trades that we’ve built our name on and intraday everyday for you to join in if you choose.
If our signals are so good, why are we sharing them?
The forex market is the most liquid market in the world. If we take the trades we promote and a hundred or even a thousand more traders take exactly the same trades, it doesn’t change anything on a macro-scale. Us and all of our subscribers together cannot ever come close to manipulating the market or creating movement like the real whales can. So why share? Quite simply, why not? Selling our trading signals represents another revenue stream we can take advantage of.
Who are we?
We’re a group of traders who have been through the pain of wiping out our portfolios. We’re tried multiple systems, Electronic Advisors (EAs), forums and social networks. We still wiped out our portfolios. Why? Mostly because the trading advice offered by so many out there just isn’t practical for the average trader who wants to either get started or trade part-time.
What’s practical about us?
You don’t need to be staring at your laptop 24 hours a day to trade with us. In fact, our trades are designed for you to get in when you are good and ready. What use is a trade signal at 2am, which you jump into at 6am (because you’re super excited) only for it to end up as a loser? So much of trading is about timing – and if you get into trades late, you often end up catching a reversal and feel the pain. Our time-frames are longer and mean that you able to get in at the right time and make real money.
We also acknowledge our losers – they are a fact of trading and if you trade with us, you will have losers too. Sorry about that, but if you manage your trade sizes correctly, the winners will more than make up for it.
Finally, we offer a 10-day free trial. If you’re not happy with the signals we provide after 10 days, we’ll gladly cancel your subscription and you’ll never be charged a cent. There are no obligations and no hidden catches with PracticalPips.com. In fact, because we rely on PayPal to process payments, you’re able to cancel your subscription with ease.
Our trading style
Some traders don’t mind losing 9 trades out of 10, as long as their winners are more than 10 times the size of their losers. Other traders hate losing and would rather trade fewer setups and have a greater win/loss ratio. Both methods can make you money, but we’re firmly in the second group. Our win/loss ratio is about 70% and our risk to reward ratios are typically 1:1. If a trade moves nicely in our favour, we often do move profit targets to new levels in order to maximise a great run. We will always advise on entry, profit targets and stop losses and walk you through the trade as it unfolds.
There you have it, your profits starts here. Sign up for only $9 for the first month! Happy trading!