i fear EAs especially when fully automated because they are just following orders especially technical analysis orders. they have no fundamental or sentimental feeling of the market so they might be wrong at news events and all that.
there are soooo many signal providers. check sandile shezi’s site, if you know him, i don’t know if i’m allowed to share sites yet
Dont waste your money. Learn to trade by yourself. Be patient and learn… you will understand once you know what is happening!!!
there is no such thing as guaranteed results in forex trading.
Here are my thoughts on your query.
Trading signals can be a useful tool to earn while you learn. But, this is conditional on a couple of things.
First , the signal provider must have a demonstrable track record to prove to you that their method is consistently profitable.
Second, they should provide a chart a detailed analysis or break down as to why they are taking the trade.
You can’t learn while you earn with just buy and sell signals that come with stop loss and take profit sent via sms. You need to see the chart and the reasoning too.
Another important consideration is the cost of the service and how much you are going to be trading with. If the signals cost 100 per month, and you have 1000 in your trading account then the signal provider must make a consistent return of 10% monthly just so you break even. Its possible that you won’t earn if you don’t take this in to consideration.
If you just want to earn, there are many copy trading services out there that will execute the trades in your trading account automatically. The signal providers track record is also public. But you will not learn from this.
many people you ask about this will default to the “learn to trade yourself” position because signals are crap or a scam. They can be but there can be good solutions too.
it takes time, effort and money to learn how to trade and most people don’t find consistent profitability once it’s all said and done
There is nothing wrong with leveraging other people’s skill, experience and time to make money but do the proper due diligence first.
I would suggest you learn trading by yourself and keep a check on signals too. In the long run, your own knowledge and skills will be of more use.