Hi all,
First of all, let me say that forex trading signals are not everyone’s ‘cup of tea’.
Some people get more satisfaction out of actually having hunted the ‘game’, ploughed the field, watered the crops and spent long hours harvesting, others on the other hand, for one reason or another might need signals provided to them for a time, while they put together their tools to go through the whole ‘shebang’ from sowing to harvest.
There are a number of advantages:
- Time constraints - for people who for one reason or another are unable to have the time to dig out good signals to trade
- With the use of good signals, one can build up their capital while they learn how to generate their own trade signals.
- Some people might just be interested in making extra money using forex trading as a vehicle, not to learn trading for the love of it.
The disadvantage I see is this:
Providing signals has the tendency to create ‘robots’, people just pressing buttons without having an understanding of the procedure;
But then, ‘lazy’ people (for lack of a better description) will always be with us, I am one, “why run when I can walk”.
For years now, especially in this recession, many people have turned to forex trading as a way of creating income but have limited knowledge and skill.
Good, profit-generating signals afford these people a chance to make some money and hopefully, progress to learn the necessary skill and knowledge. At that point when people feel able to, they can quit using other people’s signals and generate their own.
What I’m putting across is that for those who feel they need help generating good, quality signals, there’s nothing wrong with tagging along someone else’s and making money, building one’s capital, while at the same time, continuing learning and building one’s expertise at creating/generating profitable trades.
Others might even feel that they’re happy just buying ‘fish’ from the ‘fisherman’ rather than going through the whole tedious process of going onto the open seas to ‘fish’ for themselves.
All in all, there’s no right or wrong way.
I believe this forum does have people who are looking to make money through forex trading as well as those who want to become or indeed are forex trading geniuses without necessarily focusing on making money.
Whichever category one falls into, it is worth noting that we all don’t have the same needs.
Signals are a help, although it’s best used only for a time until the person has ‘graduated’ into creating profitable trades for themselves.
Good training abounds on this website and other sources and it’s up to each of us to keep upgrading and updating our knowledge to whatever level we feel able to.
All the same I’ll continue to post my signals, updates, views etc. here as a member of this community.
EUR/USD, Buy @ 1.3176, Stop loss @ 1.2976, RESULT - Profit has been taken @ 1.3222 - + 46 pips
