I would be very suspicious of a signals provider unless I personally knew someone who had made profits from these signals.
If the signals are so good, why is the vendor not simply trading them?
If I was desperate I can see I might take the signals service but run them through a demo account, but never never immediately putting real money in.
But like with anything, you need to decide what level of service or product will meet your needs - the must-have features and the optional extras it would be nice to have.
If the signals are so good, why is the vendor not simply trading them?
If I was desperate I can see I might take the signals service but run them through a demo account, but never never immediately putting real money in.
But like with anything, you need to decide what level of service or product will meet your needs - the must-have features and the optional extras it would be nice to have.
cabbycabbage
Junior member
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Was a member for a year and the place is an absolute joke! Avoid especially with all of the rubbish constantly being posted via you tube. Waste of time. TBH and that's my honest finding.
Simply no.
Thank you for your reply, What are the reasons a newbie should not start trading with signals?
mpups
Experienced member
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The downside to it is the signal provider doesn't know your situation or personality so they're not creating the trading plan or style designed for you, you'll end up doing this yourself.
If you have the right attitude towards learning as a newbie I'd generally say it's not necessary but I couldn't guarantee that would be the best advice for everyone. e.g. it could function as a way of at least learning some basics.
It ultimately depends on the person, their attitude and expectations. And finding a decent company to provide the service. They shouldn't have any great expectations other than to learn from the experience - only trading a very small size or demo, and taking it from there.
Inquisitor
Well-known member
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If you pay for signals you may as well throw your money away as that is what will happen in the long term in my view. Anyone who has a system that makes money consistently doesn't need to sell signals and because the forex market is so large they would not be affected by scaling issues that many signal providers claim is the reason they sell signals.
Because they are 99.99% scams or just no good.
NVP
Guest Author
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Signal services provide such an enticing idea to the newbies !
I’ve had many many exchanges with signal providers .....I’m not averse to looking at anything in my trading as without curiosity you never grow
There are a few signal providers and traders I would potentially follow .....after a lot of due diligence .....but in the end the fees and cr@p platforms you have to use to follow them make it unprofitable .....so I trade my own systems
And I have guessed what they are doing .......despite them never revealing everything I can figure out where the edge is ......which helps .....
I’m not talking the rediculous social media joke offers here....I’m talking the serious sites etc etc
In the end though trade your own stuff......it is worth it
N
I’ve had many many exchanges with signal providers .....I’m not averse to looking at anything in my trading as without curiosity you never grow
There are a few signal providers and traders I would potentially follow .....after a lot of due diligence .....but in the end the fees and cr@p platforms you have to use to follow them make it unprofitable .....so I trade my own systems
And I have guessed what they are doing .......despite them never revealing everything I can figure out where the edge is ......which helps .....
I’m not talking the rediculous social media joke offers here....I’m talking the serious sites etc etc
In the end though trade your own stuff......it is worth it
N
cabbycabbage
Junior member
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Not that I go against anything you have said there. However FX signals is worse TBH.! You will spend a certain amount of hours soaking up thier "Quick Tutorial.........? Soup!" and then spend the remaining 10 and a half months trying to work out what the so called strategies are and how these so called mentors manage to not trade them themselves. BTW when they do the results are catastrophic. Sad ..."In it!?"
i never saw any good paid forex signals in telegram. They post screenshots with table of green pips but they never traded real and have no myfxbook
hatemypips
Established member
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Better to try free trial first and then think about is it worth to pay or not. 90-95% of signals will lead to losses because profitable signals rarely go public
cabbycabbage
Junior member
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I personally do not recommend it. Trading on someone else's signal would not take you anywhere at the end of the day. If you are interested in this business, you had better learn it by investing time. Warren Buffet says " Do not invest money in a business that you do not understand".
Farm Yard Forex
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I don't think signals are useful at all from a technical standpoint or psychological standpoint. You learn nothing about how to trade from them or why the trade is being taken. In addition to that it encourages a money first, process second attitude to your trading which will always result in long term loss. In addtion what's to say that a signal service even aligns with your own trading style and lifestyle? It's short term thinking exemplified.
They're not
