Price Action claims to save time and money for traders who are looking to become profitable in the market. The company offers signals, algo trading on multiple instruments, and educates beginners. There are various packages and programs available on the website that we will review to see if they can be beneficial for retail traders.
Detailed forex signals service review
The vendors detail all the features of their program in a detailed manner on their website. There is a separate analysis, products and education section to access the desired information easily.
The company does not detail anything about its portfolio. There is no information whatsoever on the developers’ names or their experience in the markets.
The company has the following set of features:
- Multiple purchase options
- Education section for training traders
- Analysis of the market
- Risk management analysis
How does it work?
The company works by following the steps mentioned below:
- Traders have to purchase one of the signal packages
- The trades are available through their Telegram group
- After receiving an alert, investors have to copy each position and place their stop loss and take profit accordingly
The company does not detail how they provide signals from their trading algorithm.
Price Action strategy tests
The developer states that they trade on the market with a different approach on each package. Their details are as follows:
- Price Action Paicc trades on indices and commodities with 2-4 trades each day.
- The scalp signals are made available before and during London and New York sessions.
- The algo bot trades using support and resistance and requires a minimum of $500 with 1:500 leverage.
From the live records on Myfxbook, we can observe that the company is using averaging strategies with an average hold of 3 hours and 24 minutes.
There are no backtesting records available for the service that we could use to analyze the robot’s performance for the historical data.
Real trading results on Myfxbook are available. They track the performance from March 23, 2020, till April 23, 2020. The trading account had an average monthly gain of -95.93%, with a drawdown of 99.67%. The winning rate stood at 46%, with a profit factor of 0.92. The best trade was $20.76, while the worst was -$51.77 in a total of 249 trades.
The high drawdown value states that the company received a margin call on the account while trading. This refers to the complete liquidation of the portfolio with $0 in the remaining balance.
Forex VIP signals are available for an asking price of $40 a month, while the PAICC costs $75. The scalp trades are present for $37 charged every 30 days. There is no money-back guarantee with the program.
There are 55 reviews present on Forex Peace Army, which gives the company a rating of 1.449. One of the traders says they are charging him frequently on the bank account. There is no 90% accuracy on trades, and the whole service is a complete fraud.
Price Action Ltd has poor reviews on noted platforms that tell us to avoid their service. The live records on Myfxbook dictate that they have received a margin call on the account. Moreover there is no transparency on the developers, which raises many concerns.