Superb app... BUT you gotta know the tricks! – Tradebeat: Trading Signals Review

This is an absolutely beautiful app that works like a charm. I bought it for Forex, but it also has data streams on Indices, Commodities, Cryptos and a set of very liquid stocks. For any trading instrument you choose, it gives you a current trend reading with strength (0 to 100% signal, Buy or Sell) in your choice of timeframes, from 1 min to weekly or monthly. You can have it display a candle chart, and with a click you can see a full set of supporting analytics (ie, Moving Average, MACD, Stochastics, etc.) I loved it so much, I bought the full set of trading instruments (all the currency pairs, stocks, etc) within minutes. Here’s where it gets a little hinky: I started testing the currency recommendations, placing a Buy or Sell whenever the 15-min went to 100%, using a 10 pip takeprofit or stoploss. Of the first ten test trades, only one was a winner! I was quickly down 80 pips! So, I tested it as a contrary indicator: When it hit “100% Sell,” I placed a Buy, using the same 10/10 profit/loss settings. Suddenly I was winning more than losing, and earned back my loss. I tried again using M5 signals, with a 5 pip take profit and 6 pip stoploss, to allow for the Bid/Ask spread. (That is, if the spread is .6, the moment you Buy you’re down .6, even if the pair hasn’t moved.) Once again, the win rate when following the signals was low, just 25% — but when I flipped it and traded contrarian, my win rate was 75%! So, THAT’s PHENOMENAL! And the signals don’t have to be at 100% for the contrary approach to score. Anything stronger than 80% trend seemed to give me good contrarian results. This was just a single day of trading, on forex only, and using only the M5 and M15 data, so more work is needed to figure out additional secrets on stocks or indices. I would love to know the logic the app uses to determine its trend strength ratings!
Review by JayCee1066 on Tradebeat: Trading Signals.