Yes, I agree with your opinion on signal service! I seem, social trading is much reliable than signal service! By the way, manual trading is the best option for the Forex traders!
social trading is also signal service
Since Brokers are involved with this service, so I seem these type of serviceās are much reliable than any 3rd party!
ok, lets be honest, I would say most if not all broker do provide signals, even big names like hotforex offer signals but honestly i do not simply rely on it solely, like any other trader we find ways to generate our signals and our conclusions and our results and we do what it takes to simply look for em since most are online a click away, from comment section, to expert insight to forums and social media, we simply do what it takes.
Several studies have found that at any one time, only about 20% of traders are making consistent profits. No doubt over longer time periods the percentage of winners will be lower.
This does suggest following other tradersā signals or copying their trades is high risk.
Yes, manual trading is the best tonic; itās the process of being a successful trader!
Guys, do any of these signal providers offer automatic signals? That basically comes in the form of an EA or something?
Time for an update. This post is for live signal traders. I didnāt part free bees cause most do not work it in the long run. I search paid signal providers and found there are 3 types: .
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First group, You will or should have access to a live trading room where you can watch and follow the trader trade. [quote=āgp00053, post:45, topic:46985ā]
IMO. finding a Signal provider is no different than anything else in Forex trading. Ask the right question: gather the relevant information, list your options and pick the least of the evils.
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Group. You will have access to their live trading room during the Europe or USA sessions and follow few traders scanning the screens looking for trade setups. When the EU and US sessions are closed they will send signals via emails, texts,twitter,Facebook and even uTube
3 . Group. I found and Iām still testing. Offers a 24 hour 5 day live trade room stocked with traders looking for trading setups. Some are scalpers, some intraday, some long term. Signals are sent by email, text and training videos are posted to utube and hey hold a meeting every Monday on Face Book. So far I liked them cause they scan the majors and and each trader specializes in a currency pair & his trading method. You can follow as many traders as you want and will get signals from each. For me I trade GBP/JPY I know the pair how it flows when it flows when to jump in and when to stay away. So if on this site there are other traders like me trading other setups on other currencies, theoretically should increase my bankroll.
They also offer offer traders who sign up and fit their bill to trade their Managed account. I donāt know the details of that. I liked his pitch from the start, because first weāll give you fish but we also want to train you to fish. A line which I use all the time.
Now I have not checked out his background, complaints anything other than the service heās offering. Once all thatās done I will check out the free trial. After all that I will make a decision. As you can guess this is not a $1,10,40 or $99 a month service; starts at basic of $100 and goes up from there. In my case my goal is profit based on a % increase of all my trading accounts with all brokers. So I will have to see for me is it worth it.
Just to absolutely clear I left out names and prices because Iām not promoting, suggestion, directing or anything else toward a signal provider or providers. This is simply an update to my answer to the original poster at this time. But this doensāt change Decision= Relevent Facts;Relevent Opions= Pick the least of the evils
I hope the update helps
Gp
Can you provide links links to these groups?
NO . Start your search with GOOGLE or whatever search engine and type āForex Signal Service Prociders.ā Get the links and go through them take notes and see fro yourself. After that you wil be able to make YOUR decision based on relevant facts, relevant options and be easy to pick the least of evils , which will be your best pick
Gp
There is nothing like the best signal provider. The one that helps you make profits is obviously the best one for you.
i started with business class trading signals a month a go and their signals are good and they are nice and helpful. i made 10% only with their signals
Havenāt ever used one. I rather prefer trading manually and spending time in front of the screen viewing the movements and shifts is something that gives me a better idea about the tweaks I need to make in my trading plan and strategy. I think you should prefer this too unless you canāt spare much time.
Have you tried using TradingView? Really clean design, lots of technical indicators and backtesting features.