Jump to content

Recommended Posts

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?

Link to comment

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. 

Link to comment

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?


Link to comment
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.

  • Like 1
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Posts

    • Sainsburys full year earnings and Unilever’s first quarter trading update both say the same thing, UK consumers are in for higher prices. The war in Ukraine, supply chain issues and the effects of ongoing Covid all to blame.      
    • US Dollar (DXY) Daily Price and Analysis US Q1 GDP may stall the greenback’s advance. A 20-year high nears for the US dollar. The multi-month US dollar rally continues with the greenback printing a fresh high today ahead of the first look at US Q1 GDP at 12.30 GMT. The US dollar basket (DXY) has been boosted by renewed weakness in the Euro and the Japanese Yen, as investors move from lower-yielding to higher-yielding currencies, while safe-haven flows continue to benefit the greenback. The US growth release later in the session is expected to show a sharp slowdown from the robust Q4 figure of 6.9%. The markets are currently pricing in growth of just 1% for the first three months of this year, with the slowdown mainly due to a reduction in inventory accrual over the quarter. This release is unlikely to move the greenback, unless there is a large miss or beat, as the Fed believe that 2022 US growth will be robust enough to let them tighten monetary policy sharply without damaging the economy. The latest US Core PCE data – the Fed’s preferred inflation reading – is released on Friday and this may have more effect on the US dollar than today’s GDP data. For all market moving economic data and events, see the DailyFX Calendar. The ongoing US dollar rally has been aided by weakness across a range of G7 currencies including the Euro, the Japanese Yen, and the British Pound. The Euro continues to battle with lowly growth expectations, exacerbated by energy concerns, the British Pound is mired by weak economic data, while the Japanese Yen is in freefall as the BoJ continues with its ultra-loose monetary policy.   The US dollar continues to press higher and looks set to break above 103.96, the March 2020 high. Above here the US dollar would be back at levels last seen nearly two decades ago. The March resistance will likely hold in the short-term, especially with month-end portfolio rebalancing at the end of the week, but US dollar strength is set to continue in the months ahead. USDOLLAR (DXY) WEEKLY PRICE CHART – APRIL 28, 2022 {{THE_FUNDAMENTALS_OF_BREAKOUT_TRADING}} What is your view on the US Dollar – bullish or bearish?   Apr 28, 2022 | DailyFX Nick Cawley, Strategist
    • While Tesla has nothing directly to do with Elon Musk buying Twitter - TSLA stock closed down 12% on news that Musk may have to sell stock and use other holdings to stand against the loan to finalise the purchase of the social media giant.        
  • Create New...