Elite Signals is a trading community and educational platform that deals with trading stocks, options, forex, crypto, futures, and gold. Founded by Elie Abou Faissal, Elite Signal offers a proprietary trading bot, signals, alerts, courses and 1-on-1 coaching. Elite Signals is for both newbie and professional traders. Their proprietary Elite Algo indicator and signals are easy to learn and they also offer courses and coaching for both newbies and professionals. In this Elite Signals review, we'll go over what their proprietary Elite Algo indicator is, who is it for, what you get with your membership, if it actually works, and who Elie Abou Faissal is.
Trading signals are legit in that they help traders predict the direction of the market. They can help increase trading profitability and minimize losses. But even with the help of signals and indicators, trading is still a high-risk investment, with over 80% of traders failing. Even the most experienced traders only profit from 40%-50% of their trades. The higher the potential profit of the trade, the higher the risks. Only trade with money you can afford to lose.
Elie Abou Faissal's Elite Signals Review: Pros and Cons
Pros
Elite Signals has a free Discord channel with over 49,000 members and a team of 30+ analyst.
Elite Algo is a highly customizable trading signals and indicator that has a lot of tools to increase trading accuracy.
Elite Algo and Elite Oscillator are constantly updated. The algorithm is updated several times in a year.
Cons
You need to have a complete understanding of market dynamics and get plenty of trading experience to trade effectively. Beginners have a high chance of losing money.
There have been several complaints of delays with the signals on the Elite Algo indicator.
The open Discord channel is susceptible to scammer. There are users who pretend to be admins who directly message members charging money for "updates".
Refund Policy
No refund policy.
Origin
2019
Reputation
Mixed reviews. Elite Signals has an affiliate program that can affect reviews.
What Is Elite Signals' Pricing?
Elite Signals' pricing is a onetime lifetime fee or recurring membership fee. The lifetime fee costs $995. Recurring membership costs $489.95 a year, $139.95 per 3 months, or $67.95 a month. For recurring membership, they give you a code that gives you 20% on the first payment. Beginners can also take 1-on-1 coaching for $699.95 or $999.95.
Scam, don’t waste your time and your money. I was scammed getting my money back was possible with the help of curtis howard 270 @ gmail . com, contact him if you are having problems withdrawing your money from your investment broker.
The indicator isn’t as trustworthy as advertised. The customer service is also dismal.
What Is Elite Algo Indicator?
Elite Algo is a trading indicator and signals developed by Elite Signals for any trading strategy. It is used with the trading platform, TradingView, and in conjunction with the Elite Oscillator tool. Elite Algo is highly customizable and gives 4 types of signals and 12 toggleable overlays that provide technical analysis to help increase the accuracy of market predictions. The current versions are Elite Algo is v27 and Elite Oscillator Pro.
The 4 signals are buy, sell, smart buy, and smart sell. You are advised to only trade on the smart buy and smart sell signals to maximize profits and minimize losses. There are 12 overlays that you can use as confirmation that the market trends will go as predicted. You are advised to have at least 2 confirmations for a signal before buying or selling. The Elite Oscillator tool is also used to further provide confirmation in conjunction with Elite Algo overlays. The following below are the most commonly used overlays for confirmation.
To use the dashboard for confirmation, you just need to click on a signal with it the dashboard open and you will see a list of the timeframe trends. Only trade when most or all the timeframes appear as bullish.
The candle colors is a common feature you'll see in many trading indicators. In Elite Algo, Green represents a bullish market, red represents a bearish market, and purple represents a ranging market. You are advised not to trade in raging markets, as the price movement is highly unpredictable.
The reversal brands overlay, represented by faded lines, shows you where the price currently is to know if what is being traded is overbought or oversold. It provides a simple way to spot a profitable trading opportunity.
The trend cloud, represented by brush strokes, gives you an idea if you are in a bullish or bearish market. This is great for scalping, as it makes the market quicker to read.
The auto trend line is a simple overlay that shows the predicted limit of the trend. When a signal hits the top or bottom of the trend line, it is a good sign to buy or sell.
The Elite order blocks show the supply at the bottom of the candles and demand at the top. It also tells you if the volume is more bullish or bearish. If a candle touches the order block, there is a high chance that the market will follow the trend, as indicated. This is one of Elie’s favorite overlay to use.
The Elite Oscillator can identify oversold and overbought conditions and look for reversals. In conjunction with Elite Algo, it will be easier to identify a potential trading opportunity. By matching the patterns, such as shown by the drawn circles, you get a strong confirmation of the trend.
Elite Algo Review
Elite Algo reviews are mixed, especially regarding the accuracy of the signals. In a couple of video reviews on YouTube, the negative reviews point to the delay in the update of the signals leading them to miss profitable trades or even lose money. Positive reviews point out the real-time accuracy of the signals with one even pointing out a 95% accuracy rate but give not trading results. However, keep in mind that Elite Signals has an affiliate program, and these positive reviews come from affiliates, so it's hard to verify the legitimacy of these claims.
Who Is Elite Signals For?
- Beginner traders with no chosen trading type or strategy. Elite Signals offers plenty of courses on different trading types and strategies. Their 1-on-1 coaching program is also geared towards teaching newbies how to trade like a professional in just a few sessions.
- Experienced trader who want to learn about more trading. Elite Signals has courses on crypto, options, forex, and other trading types. The Elite Algo indicator and signals is designed to work with all trading types.
- Full-time traders who are looking for a trading indicator and signals to increase the accuracy of their prediction. Elite Signals provides detailed training on how to use their indicator.
What Markets and Timeframes Does Elite Signals Work On?
Elite Signals work on all international markets such as stocks, options, forex, crypto, and more. It also operates on various timeframes that TradingView supports and is good for many trading strategies, like scalping, day trading, swing trading, and more.
What Do You Get With Elite Signals?
Lifetime + members get everything above, including free coaching and onboarding.
What Is the Elite Signals Discord Group?
The Elite Signals Discord group is a free-to-join channel where you can network, ask for support, and access free courses on the Discord channel. There are over 49,000 members from all over the world and a team of 30+ expert analyst who actively answer questions and give advice.
What Are the Elite Signals Coaching Plans?
Elite Signals coaching plans are flexible at-your-own-pace 30 minute coaching call scheduling. Coaching plans come in 2 packages, one for 5 sessions and another for 10 sessions. The 5 session package comes with 6 months of Elite Algo access and costs $699.95. The 10 session package comes with 1 year of Elite Algo access and costs $999.95.
Does Elite Signals Work?
Elite Signals does work to teach you how to trade and be profitable. Trading is a skill and experience-based investment and Elite Signals offers the tools and training you need to learn how to be a successful trader. You need the patience, perseverance, and time to learn how to trade profitably. You can find members on the Discord channel posting their results with Elite Signals indicator. Most of the results are modest and mirror the realities of trading.
Elite Signals Review Reddit
Elite Signals review on Reddit are more on the negative side. Those who inquired and mentioned they bought Elite Algo have posted no updates on how effective it works.
Elite Signals Review Trustpilot
Elite Signals review on Trustpilot has a 4.4 rating. The most common factor on positive reviews is the educational value and great support from the community, while negative reviews revolve around difficulty cancelling subscriptions and the delay of Elite Algo signals. Below are some of the positive and negative Elite Signals reviews on Trustpilot.
Who Is Elie Abou Faissal?
Elie Abou Faissal is a trading mentor, entrepreneur, and the founder and CEO of Elite Signals from Ottawa, Ontario, Canada. He mostly trades stocks and forex on TradingView. In 2019, he started Elite Signals with his business partner, Joseph Zaylah. What started as a small trading group quickly grew into an international community of forex and stock traders. Elite Signals has since earned a $5.4M+ combined profits since May 2018.
What Is Elie Abou Faissal's Claim?
Elie Abou Faissal claims that Elite Signals' proprietary Elite Algo algorithm can increase the accuracy of the market prediction and your win rate to about 85%. The claim is that when trading with Elite Signals' algorithm, you will profit from 17 out of 20 trades. Trading is often compared to gambling, as the stakes are really high. The most successful traders in the world have a win rate of 40%-50%. Is Elie's claim of 85% win rate realistic?
The Volatility of Markets
Whether you trade stocks, options, forex, or crypto, the market will always be volatile. In a Bloomberg article, the stock market lost $350 billion in 2022. In data compiled by Vanda Research, the average amateur investor’s portfolio is down about 30% in 2022. Many active traders lost money, which drove them to rely on algorithms in order to minimize their losses and predict the market more accurately.
In the real world of trading, win rate alone doesn’t really mean a thing. What matters more is your risk/reward ratio. Trading works by probabilities and by default, your probability of a profitable trade is 50-50. If you trade with a 1:5 risk/reward ratio, reaching a 50% win rate is unlikely because your profit target will be 5x the distance than your stop. This means that the probability of closing the trade by stopping is higher than reaching your profit target. With this risk/reward ratio however, a 30% win rate will bring in solid profits. Compared to trading with a 5:1 risk/reward ratio, which means you have high win rate but low profits, which will lead to failure in the long-term. In conclusion, Elie's claim of 85% win rate is impractical.
This review from Trustpilot sums up Elite Signals and its indicators. The signals is very useful for experienced active traders but less effective for beginners. It is, however, a great way to learn how to trade using trading algorithms. Don't expect to have a high winning ratio or even make substantial profits as a beginner.
Is Trading With Signals Worth It in 2024?
Trading with signals is worth it in 2024 if you are an experienced trader. While signals can help you make informed trading decisions, you still need to have good knowledge of trading and proper risk management skills. Professional traders use signals to increase profitability and save time. Signals can be an accurate way to predict market developments, but pro traders can choose to ignore them based on their experience. You should pay for trading signals if you are a beginner trader. Using trading signals will increase your chance of getting successful trades while you are still learning about the market.
Trading with signals can be profitable if you know how to practice good judgment and risk management. Knowing how to read the signals and when to execute a trade is the key to making profits. It takes a lot of time to learn how to trade effectively, even with the use of algorithms and signals. Be prepared to lose what you risk when trading.
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