Yes I am a “newbie”. Only to putting up money. But not to the concept of Forex. I have studied FX market investing for 6 months now. I also, have been a regular participant and subscriber to “Baby Pips”, my favorite Forex related website for general information, and resources.
Lets get to the point. I want to start with a micro account of 200 to 1000 dollars using a major Forex Broker advertised on “Baby Pips” (I know why its preferred to start with more than 200 dols ). But I have decided since I dont have time to linger for now over charts and trends, and I dont want to at the time tweak settings for “forex robots”, and download software or MetaTrader, I prefer to utilize a Forex Signal Service with low monthly cost but accurate signals with resonable amount of pips in profit in daily plays. No day trading or intratrades for now. just at most a trade every twenty four hours. I know realistically there are no guarantees, but some services got to be better than others. I want to start soon putting up money, and I am willing to take the chance. It seems to me that a good Forex Signal Service is a good start for a novice, while I continue to study technical and fundamental analysis.
What are the best Forex Signal Services, that are simple to use, and resonable in cost, and who’s accuracy is worth the investment in the service?
By the way, I also do blogging and I would like to know if I can legitimately link to BabyPips.Com on select blogs related to the Forex Market?
Let me know forum members, I will be threading regularly on this site.
gold28 coins
your post really concerns me, I urge you to be very careful. An open wallet will attract many who will happily help you to empty it. During your 6 months of study have you placed even a demo trade ? IMHO using the service of a signal broker is akin to seeking the golden goose, plenty of money without the work. There is no rush, the market is not going anywhere, continue your education, save your money then, when ready, take responsibility for your own trades. To the best of my knowledge the tooth fairy does not operate a signal service
Why do you think a Signal Service - in which you blindly follow whatever it says - is a good place for a beginner to start. You will learn nothing from it.
IMHO its the worst place for a beginner to start as since you have these signals coming, why do you need to learn for youself?
From gold28 coins,
Apparently, I have got at least two posts that advise me to make my own plays, and to continue learning about Forex. I will take that into consideration. Yes I have done demo trades or paper trades. But I will say that at some point I have to take the dive. I just cant keep reading playing demos and dreaming. To really benefit from this I have to eventually make the move. Caution after a certain point becomes cowardness. A true investor has to take risks but must find ways to minimise risks. The reason most people dont invest is because they are scared, AND THEY WILL NEVER MAKE INVESTMENT GAINS.
gold28 coins
Reply From gold28 coins
I have to admit I do know people and know of people from reliable sources who have utilized signal services to do Forex but they disagree on which ones are best. A few are inexpensive to free. Some institutional investors are on record for utilizing select signal services ( that usually cost alot per month)