Dear Experts,
I am a forex trader at the rookie level and have on course of detailed education on fundamental and technical analysis.
I am in search of a reliable forex signals on a long term basis. This isto support my income and the massive losses that I had experienced in the initial stages of my trading journey.
I seek to be under the guidance of an accomplished mentor.
Further more I am in search of a reliable signal provider with the below features:-
a. Manual trading based , no automatic indicator
b. Verified results by third party (i.e. MyFxBook etc)
c. No multiple trades in a single instrument.
If someone can guide me to the queries, then I will be extremely grateful.
Thanks in advance.
Kind regards
Ayaz
In case if you don’t mind how much you already loose and how much your trading experience overall ? What do you say ? In your case I would review several different at once, for example take a look here and select applicable - Best Forex Signal Providers
Hi Eroedon
My initial losses from 2016 till 2018 are around $200K. Thanks to EA’s and scams yet signal providers.
Thankfully this year had been in green.
Thanks & regards
Ayaz
There is no such thing as reliable Forex signals.
Anyone offering signals, is making money selling signals not trading those signals.
If they are, they’ll be using multiple demo accounts most of the time.
They know its easier to just sell signals to mugs, think about it.
I could easily start selling signals, but why would I bother? I just trade myself and keep the money myself.
You don’t need signals, you need a strategy that fits around your lifestyle and work - by the sounds of it, a longer term strategy.
You’ll still have to invest the time, but it would be 1-2 hours a week, opposed to several hours a day.
What you gonna do when that signal provider goes bust or disappears?
Put in the time. Do the work. Earn the bunts.
8 Likes
@The_Baller hit the nail on the head! Several times!
it’s funny from a pre internet marketing perspectivere investing marketers would simply make long and short predictions on a particular stock or index and all the long calls went to one portion of the mailing list, snail mail, the others would receive the short prediction.
Whichever prediction played out correctly that group would be split again and received a long prediction and the other half received a short prediction.
This process would repeat until they had a certain group that only received three, four, five, six accurate predictions creating the perception the company has a 100% accurate system, indicator, or class that will teach people how to achieve this 100% accuracy, promising the freedom of self employment, financial security and in a short time millionaire status, all for a very hefty fee which in reality would be a “miniscule percentage” of how much money they would make.
This was like shooting fish in a barrel. The people couldn’t do the research, as they can today with the internet. So folks would fork over a huge chunk of change based on their perception that every call from this expert was correct
Uploading charts of successful trades is pretty simple using a process along these lines with the proliferation the demo accounts.
@The_Baller is correct in saying you have to put in the time and should follow the recommendation of trading longer-term time frames.
Be the captain of your own ship and you won’t be a partner in Flounder, Ring, and Lost! The crew that crushes forex success!
Good luck,
KC
1 Like
I remember reading about this marketing tactic from back in the day.
It’s not really any different to all these youngsters on Instagram posting screenshots of their Lamborghini, Gucci clothes, fancy hotels and luxurious lifestyle.
They have no clue what they’re doing, but are hoping to sucker in people in bulk.
I know for a fact, the majority get their signals from someone else and just forward it on to their subscribers.
If they only put both their brain cells together and came to the conclusion, why don’t I actually bother to learn this properly - I could actually make the money I’m pretending to make.
But short term, its easier to make money providing signals to the impatient and greedy.
On another note. This is a skill set that will be handy for life.
I have a lot of friends that work for big corporations and earn very good money - but at the end of the day their skill set is simply using Microsoft Excel, sending emails and managing people.
There will come a point in time where they’re too old to do what they’re doing and will be replaced by the younger generation.
At that point they’ll have to rely on savings or whatever they can get their hands on.
Investing or trading is a skill set you can use for life - some call it a license to print money.
2 Likes
Signals or alerts are good if you are learning a particular strategy from an experienced trader, for the sole purpose of demonstration and confirmation of your interpretation of the rules…for educational purposes. But the ultimate goal is to become an independent trader where you don’t need to rely upon a third party to trade successfully. As you say, “What you gonna do when that signal provider goes bust or disappears?”
HI Guys
Thanks for the great response.
I am on my way of learning the fundamental and technical analysis. I spend 4 hours daily trying to grasp many theories and lessons. Its a very painful and trial and error process when you don’t have any mentor. .
The self learning process will take at least a year for me to become a profitable trader. For now , I am practicing on Demo accounts and every trade that I put in has confluence with fundamental and swing trading concepts. The demo account is showing up modest growth of 10%. But I do not seek to operate on my real account
I have lost $200 K following some of the worst EAs , signals from rookies from sites like Mql5 and SignalStart and other scamsters. Due to this I had brought my self under crisis/distress and desperately seek a revival. Luckily I found an expert trader he/ she began to change my fortunes since December 2018. However the trader herself is so successful, that she is moving to better prospects and the signal service is discontinued.
I have passion to succeed in forex and therefore I need a mentor who could help me develop as a pro -trader. However this will take its own time and course. I was expecting tht by the time I develop as a profitable trader, I could benefit myself from the signals from a pro-traders, who could lend me a helping hand at the time of crisis.
Thanking you.
Kindest regards
Ayaz
My history
- Lost a major part of my life savings (150K ) on managed accounts , which were Ponzi scheme. The owner of the scheme is in Jail and serving a 99 year sentence in UAE
- Lost 200K in forex till December 2019
@FireNSnow
After reading your post yesterday I did in fact reply but decided to delete my reply i.e. given what’s happened to you I’m sure the very last thing that you need right now is a lecture.
Suffice to say it saddened me to read your post particularly with the amounts involved. With that kind of money you certainly don’t need to be trading with high leverage (if at all) and should be making at least $10K per month on average while trading your account YOURSELF and not relying on anybody else.
I’m happy to mentor you. Caveats being no FOREX trading and forget about anything you’ve learned to date or are trying to learn. And we do it my way slowly but surely i.e. my broker, my methods (not prepared to stick my neck out in public and you lose money because you’re trading with a broker that’s trading against you). Also: everything done in public i.e. no private mentoring of any sort and all done out in the open on my thread. No charges or agreements or anything of that nature either. And I’m making the assumption that you have a fair amount of that capital left over i.e. no point in pursuing with minimums here as severe leverage restrictions apply and that’s just to begin with. And with the kind of money you need to recover just to break even: it’ll take you the rest of your life (if you’re lucky) with minimal funds.
So there’s my offer.
As I say: I feel for you (ask me how I know).
Regards,
Dale.
Hi dpaterso,
Good day.
Thanks for the valued support.
Taking this further, please guide me on the way forward. It will be great to communicate further.
Kind regards
Ayaz
Hey Ayaz.
Below is a link to my thread. Download the e-book (link at the bottom of the first post) and read it through as many times as you have to until you have a general idea and paying particular attention to chapter 8 of the book. You don’t have to get bogged down with all of the technical aspects i.e. just a general idea is all for now. Once you’ve done that let’s see if we can do something for you. It’s certainly not the most exciting way to make money but given what’s happened to you thus far: I’m thinking excitement isn’t what’s needed right now and isn’t a priority. See what you think and then we can take it from there on my thread if you like.
https://forums.babypips.com/t/tps-time-price-scale-in-revisited/215204
Regards,
Dale.
Thanks Dale
Much Appreciated 
So sorry for your loss.You will make it in forex.I wish you the best