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Why is it impossible to find profitable trading signals?
All I am asking for is somekind of blog which states exact buy/sell signals on a daily basis.
Please help me out,
Thanx
1 Like
There are hundreds of those.
I don’t think that’s really what you’re asking for: I think you’re asking for one that fits that description [I]and is profitable[/I].
If you had one, would you sell the signals?
The answer is “selection bias”, but I’ll explain why …
It’s relatively easy (given plenty of knowledge, understanding, judgment and due diligence!) to identify a signal service that has had a good few months of profit, but (and here’s the point) [I][B]it won’t be the same one that’s still making profits in a couple of months’ time[/B][/I], and there are reasons for that, which aren’t trivially easy for the uninitiated to understand.
There are thousands of signal services “out there” (and unfortunately quite a few of them “in here” as well!), and at any one time, out of those thousands, it follows that there will be a small number who happen, simply by the laws of chance, to have had a run of a few good months.
There’s also a process at work which statisticians call “selection bias”, which predicates that [I][U]those few are usually the ones you see advertising and promoting and being recommended most prominently[/U][/I].
Unfortunately, the fact that they happen just to have a few good months has very little (or “[B]no[/B]”) bearing at all on their chances of having a good few months [B][U]again[/U][/B] when you subscribe, because they had it by luck and “[I]because someone has to[/I]”, not by skill. They’re successful [B]marketers[/B], not successful traders.
That’s the “hidden reason” why it’s so very, very common to join a [U]successful[/U] service and for it all to turn sour as soon as you start paying for it.
Thank you for the reply. I understand what you are saying here. There are lots of bad signal providers.
But since it is possible to make money in forex, there should also be traders that profit. Why cant one of those start providing signals; even better, free signals.
there are and there has been in past. but because of people getting very lazy and demanding and starting to complain on a high level the peoplewho were giving free signals very often get annoyed and ask themselves “why ami gifting money to people who i dont know, and who dont even appreciate it?!” and quit their free signal service after some time.
it goes like this:
5 trades each winning 500 pips each
-nobody says thanks
1 trade winning only 50 pips
-people start questioning whats wrong
3 trades losing 50 each
-people start complaining
5 trades each winning 500 pips each
-nobody says thanks
1 trade winning only 50 pips
-people start questioning whats wrong
3 trades losing 50 each
-people start complaining
5 trades each winning 500 pips each
-nobody says thanks
1 trade winning only 50 pips
-people start questioning whats wrong
3 trades losing 50 each
-people start complaining
5 trades each winning 500 pips each
-nobody says thanks
1 trade winning only 50 pips
-people start questioning whats wrong
3 trades losing 50 each
-people start complaining
after a few months of this “up and down” the signal provider gets annoyed at people complaining and quits.
the only one ive seen who didnt quit is maryo but he doesntunderstand englisch and cant bother about complains of spoiled recievers.
here:
http://forums.babypips.com/free-forex-trading-systems/70906-maryo-charts.html
Risk cannot be eliminated through following someone else’s trades - it’s just moving the risk to someone else. And do you really want a stranger to control what level of risk your money is subject to?
That’s barking mad.
There are.
Why would they?
The small minority who profit reasonably steadily are people who have done many, many years’ work at it: a very long education followed by thousands of hours of screen-time experience. The very few who are interested in sharing the fruits of that labour with others are typically more interested in the educational side of the endeavour, and more likely to write textbooks giving others some “directional input” and increasing the chances of their being able to learn how to do it for themselves. That’s why there are some outstanding trading textbooks around (as well as quite a lot of bad ones and a great deal of truly dreadful internet “information” produced by people whose only income actually comes from promoting and selling such materials), and a proportion of the people who are both willing and able to make the effort gradually to acquire the necessary skill-set can end up being very successful in one of the world’s highest-paid occupations. It’s when people repeatedly dedicate their time and effort, instead, [I]to finding short-cuts[/I], that the path invariably leads in a very different direction. I don’t suggest that that’s “good”, or “bad”; but undeniably that’s “the way it is”.
Signals are hard to produce. There are apps our there that attempt to do that and one of the worked well for me… it’s called pilot trading
Other than that of course you need to know what you are doing. If you are looking for a simple solution I’d say try out Pilot.
I have been using goldcoach uk surprisingly they have given me the best trading signals and has high accuracy rate. recommend to try on
Hey there! There are numerous websites and brokers who share forex signals. There are traders who share reliable signals after performing their own analysis and share the information. Nevertheless, when selecting the forex signals, ensure to check out the success rate of the signal.
There are youtube channels with real-time trading. Binance scalping live and similar