Why do I have this question?
It is because I want to know if the signal is right but people doesn’t know the behind strategy well and can’t follow the signal for a long enough time…
If true, then I want to test a well trusted strategy online without question…
Just to experiment the strategy, but more importantly me…
I think there is no trader that hasn’t used those types of trading signals at the beginning of their trading journey.
It is fine to go through this phase, but don’t rely too much on them.
Remember the point is to learn how to make technical analysis by yourself. Otherwise, you will always be dependent on someone else’s opinion.
I don’t recommend using this type of trading signals, but if you are not yet confident in your own skills they might serve as a good basis for providing trading ideas.
If you decide to use them anyway, you should take two advises of mine:
- Never pay for trading signals
- Look for ones with charts with technical analyses, and try to understand what has triggered the signal. Only this way will you improve your skills.
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No not me, signals are a trap, there is some much information out there for me to make my own analysis.
Personally I would be cautious about signals advertised through MetaTrader.
I have come across a platform called Darwinex that seems like a potentially reasonable place to invest in other people’s systems.
You could also trade your own system on their platform and earn from people following you.
I have tried some forex trading signal services, but I was not satisfied with the results. Most of them are either too expensive, too unreliable, or too risky. I think it is better to learn how to do your own technical analysis and develop your own trading strategy. Forex trading signals are not a magic bullet, and you should always do your own research before following them
What about Signal Start?
Are there any other reliable platforms for copy trading?
signals are okay if you also know how to trade, its like getting a second opionion. Im not saying its for everyone but thats how I see it.
So what happens if it conflicts your original decision?
How do you know the trading styles of you and the “signal provider” coincides?
If you ask me, assuming the signal provider is legitimate, I would think it is better not to mix your own trading with the signals.
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I am personally following a guy for 6 months now. I am still demo trading on his signals. He knows what he is doing but having said that, I’m constantly educating myself on forex trading.
I have included a sreenshot.
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Yeah, it’s a bit of a tricky part to figure out. When I’m copy trading on zulutrade, I tend to lean towards signal providers with a lower risk tolerance and I make sure that their maximum drawdown doesn’t exceed 30% of their total profit. This way, I get a clearer picture of their trading style and whether it aligns with mine. Plus, I rely on zuluguard as it keeps my account secure, so I can trade with peace of mind.
By the way, are you currently using any platform for copying signals?
No, I don’t need to.
Forex signals are worse than horseracing tipsters and they are terrible. Don’t know how they stay in business. I suppose they rely on gullible punters look for a short cut to riches.
Try to find trading signals that are provided with technical analyses, not those that contain only buy or sell prices, and TP and SL levels.
Why? Because you can decide on your own if the setup works for you or not. Also, if you are not able to decide, you will at least learn by seeing how technical analyses are conducted. After some time you will learn how to do it by yourself and you won’t even look after trading signals anymore. Trust me, this comes from a trader who was 100% relying on trading signals and now I trade independently!
Personal opinion, even if you found a source of trading signals that worked and were profitable, it is the wrong path to take. Learn to trade for yourself.
Being a successful forex trader can be a shortcut to your financial goals, but there is no shortcut to being a successful forex trader.
Put in the work. It’s going to be worth it.
When they promise big earnings when trading using signals, there is a big chance of falling for scammers. It is better to move towards creating your own trading strategy and be able to analyze the market yourself, than to pay money for dubious signals and never learn anything in trading.
I use Autochartist, through a ChartViper subscription.
They publish the performance statistics, so you can see exactly how well it works, on average, 60 to 80%, but like you say, signals alone don’t make it work. So I also use their Volatility Analysis to help set market appropriate stop losses, and I use their Event Impact Analysis and news sentiment to filter it down to the best possible setups, and that works pretty well for me. Signals alone are useless, but when you combine them with other information, they really come alive!