I think it's time for me to put this subject to bed.  I've been using Kathy Lien and Boris Schlossberg's Forex signal service since September 2006.  It was free in 2006 but if you continued using it into the new year, you had to pay.  I started using it as a way to diversify my trades and also to give me more insight into Forex signal services.   It didn't quite work out as I expected but I'm glad that I explored it.  Here are some of my observations which are my opinion only:

• Boris and Kathy are decent risk managers which I think is an important aspect of trading forex.  Though this is the case, I've lost more money than won by using their service.   I personally do not think they are profitable and if they are, it's not by much.
• They send out trade signals at weird times, many times after the action is over.  This is indicative of their lagging trading strategies. 
  
• It's hard to be dependent on someone else to provide you with trades.  You don't know when the signals are going to come in so it's difficult to be ready when one does.
• I'd much rather be responsible for my losing than having someone else be responsible for it.
• Boris and Kathy seemed to portray their performance as much better than it really was.  End of week reviews focused on winning trades, not losers and their performance stats were based on best case scenario.
• What happened to their 2 lot strategy? I may have missed something but one day they were using a 2 lot, 2 target strategy and the next day they were using a strict 1 lot, 1 target strategy.
• They had excuses for being stopped out.  I personally don't see how or why you could even have an excuse for being stopped out.  The bottom line is the price hit the point where you no longer wanted to accept more risk.
  
• I'm not sure how in one sentence I can say they are good risk managers and then the next say their particular trades aren't any better than 1:1 reward/risk but this is the case.  When they make a initial trade call, it has a better than 1:1 reward/risk, sometimes 2:1 but ultimately, they rarely gave a trade time to hit its target.  Most of the time, they closed early with a worse than 1:1 reward/risk.    

I am officially halting the use of their service mostly due to the fact that I don't see any benefit to using it.  The bottom line is that I had to be ready to trade at the sound of any new text message which isn't easy and on top of that, I didn't make a cent.  So there really is no point in continuing.  

Read or add comments about this item.

No. 1 : the3500

It's good that you tried it, learned and moved on. I would recommend staying away from all signal providers/systems sellers.

Submitted by Caravaggio • 2007-03-07 11:30:01

No. 2 :

I was always skeptical of them and honestly didn't have high hopes but I thought I'd experience it. Plus it gave me something to write about.

Submitted by Rich • 2007-03-07 11:47:44

No. 3 :

Love the commentary especially: "They had excuses for being stopped out. I personally don't see how or why you could even have an excuse for being stopped out." Isn't rule #10 of their book "No excuses, Ever!"

Submitted by Forex Trader • 2007-03-07 12:40:11

No. 4 :

Cathy and boris Suck!!! No further comment.

Submitted by Forex rookie • 2007-03-07 16:17:04

No. 5 :

I didn't realize that was #10 of their book.... interesting.

Submitted by Rich • 2007-03-07 17:36:47

No. 6 :

It is amazing. Quite frankly, I couldn't believe that two traders as substantial as Kathy and Boris would want their names and photos attached to such a service. I didn't think anything could be that easy and it wasn't. I canceled before the end of the 30 day free trial.

Submitted by Greg • 2007-03-07 23:23:53

No. 7 : mr

i spent 10 years trading futures and 3 years trding forex. there is not a single service that is worth spending a red cent on. any sane person who has a true winning system will never unveil it or sell its signals , that person would be too busy counting his riches by trading and not by selling signsls or books. do not pay attention to these moronic talking heads on T.V their job is to charm you so you trade your heart out and lose your money, they do not trade any of their money. be wary of this industry it is run by a gang of bloodsuckers.

Submitted by mustben • 2007-03-08 00:09:26

No. 8 :

Thanks for the comments everyone.

Submitted by Rich • 2007-03-08 19:53:13

No. 9 :

I trade for a living and I just started to post my real time trade results. Click here for real time results.
http://www.collective2.com/go/futuresatm

Submitted by Forex Trader • 2007-03-09 08:17:32

No. 10 :

Hvae you tried or heard of 4X Made Easy?

Submitted by Forex Trader • 2007-06-17 06:23:36

No. 11 :

I would like to try FX Boot Camp. Any comment?

Submitted by Forex Trader • 2007-06-17 06:30:13

No. 12 :

Sorry, I haven't tried either.

Submitted by Rich • 2007-06-18 22:36:13

No. 13 : Mr

I signed up for Kathy & Boris' trade alerts and cancelled within 3 days. Having compared their setups with my analysis of 16 currency pairs, I just couldn't see the logic in their trade alerts. They were gambling on news announcements and were more often wrong than right and when successful their profits v small.

Submitted by Forex Trader • 2007-06-29 19:01:16

No. 14 : well, duh!

NEWS FLASH: Kathy and Boris aren't "traders." They are analysts. Why everyone jumped on their bandwagon is obvious -- the power of suggestion. You hear something or see something over and over again and it must be true, right? It must be real! They said so at the expo, so it must be! I'm sorry you had to learn the hard way, but at least you didn't lose $20K! Ha ha! GL and GT, my friend.

Submitted by Forex Trader • 2007-07-16 22:27:40

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