Any one here use signal providers to place trades? If so which ones would you recommend?
Or do you just use signal providers to back up your own analysis?
No matter what way you decide to go, first learn the basics so you can tell if the signals you are paying for or using is good information and worth the costs. . For the long term, you need to be able to analyze the pair or pairs yourself, but that doesn’t mean you can’t or shouldn’t look at other traders (hopefully).
When I started I traded only gpbusd. I used several signal providers for that pair, all free. Some were from here that were free and some were other sites. For example. Take a look at someone from this site who offer signals for gbpusd: then go to investing.com and FxEmpire.com and look at their free signal forecasts for the same pair. Most of the time they will not agree, and when they all agree still no guarantees but when they all do agree, could mean a very strong signal.
Different signal providers use different methods to forecast a signal. Some use only tech (too many to list), some use only fundamentals (HA Research) some only trader’s sentiment (Daily FX) some use all the combos of the previous 3. I started with trader sentiment (free signals) and tech analysis as soon as I went through baby pips school. Later I added fundamentals and then trader sentiment.
I found some signals are better for short term trading opportunities, some were geared to medium term and others for long term trades. So even though I learned how to do my own analysis I still consider other traders sentiment (signal providers) as well