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Has anyone tried following the 'advice' of PIA First?

I'm almost tempted to think that it deliberately gives false signals to encourage punters (sorry, valued clients) to enter bad trades for IG to profit from.

Why else would IG pay for something that generates such appallingly bad signals?

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Okay, sounds like I need to be on Twitter then.  I've held out on social media for years, but since companies are now using it (and not offering alternatives) I guess I have no choice.

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Not sure youse are understanding the signal service at all. Firstly both providers are third party companies and stand aside of IG so IG blogs and analysis etc have nothing to do with PIA or Autochartist. Secondly they provide computer generated chart patterns that are in the process of forming and nearing completion so they are more a screener than purely analytical. Sometimes the pattern completes and sometimes not but completed patterns and the resulting price movement are well studied and have stats to back up their probability of success. 

So you are looking at a screener that is flagging up the possibility of a chart pattern completion but it is computer generated and it's up to the client to decide if the trade and risk/reward involved is acceptable. 

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I'm actually finding the PIA First suggestions useful, when comparing carefully with my own analysis, rather than simply agreeing with everything.  I'm sure it's right more often than I am though.  😋

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PIA First gave a nice signal last Friday.  Since the down move has retraced > 70% it's likely to retrace all the way and then some.  It gave a good recommendation to wait for a slight pull back before entering a trade and I agreed with it and committed to it on this occasion.  (See my humble graph)

Today however PIA First is recommending buying at 11010.  That's going in completely the opposite direction to the trade they recommended before the weekend.  Dodgy?

usd.jpg

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4 minutes ago, dmedin said:

oday however PIA First is recommending buying at 11010.  That's going in completely the opposite direction to the trade they recommended before the weekend.  Dodgy?

Computer generated and may be for a very different time frame, and the target was for the info available at the time of publishing the signal, things might have changed so will need to watch closely.

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