Hi Warchild, be very careful most of them are not legitimate. If your looking then look for one that have published results ie FXBlue or MyFXBook. I run a signal and i would say 80% of our members have been scammed at some point so check the business is 100% legit. Also bear in min that for most new/novice traders if you were paying say £30/month for a signal then you need to expect that trading that signal even if it was a good one may not even cover the costs of the £30/month. Reasons are because most new traders start with an average of £500 in their account, now with good risk management they should be expecting to risk around 1% per trade and return around 5%/ month so that is only £25/ month. So be realistic with expectations.
You might want to watch out for posts responding to your question from people with very commercial usernames who start their answer by promoting the fact that they run a signal service.
You might think that’s spam.
Two questions for you: (a) If people can make money trading, with no need to spend any of their time and resources on marketing at all, why would they be selling signals online and spamming trading forums with them, rather than just trading online and growing their accounts? (b) Do you think those people are really successful traders or successful marketers?
Laughing Charlie, I assume your comments were aimed at me. If ( i am assuming here) 9/10 trading educators who can’t actually trade and often don’t even trade and make money by selling courses and strategies and signals that are not profitable, manage to run a profitable business. Even when they never have recommendations or returning customers. Think of the potential for that 1/10 trader who can trade and can design profitable trading strategies. Where the 1/10 guy offers a very cheap signal service that is returning 10%pcm in 2017 (even though he says aim for 5%) with fully verified account and all trades there for people to see as he knows his customers will come back month after month, he enjoys filling the 8hr per day he sits in his office watching the charts, with running and helping a community of traders. He then has lots of extra money to invest into trading and other investments. Then that makes. If you were that 1/10 what would you do?
Yer 19,000% is clearly wrong, it is FXBlue so don’t know whats going on it seems to calc equity starting at Zero. All the other figures are correct. So i have edited the image.
LOL ok so this thread hasnt helped me make a desision at all!! Nevermind the money i put up for doing this is earned from matched betting which I happen to be very good at so If I do lose my initial 250-500 pound stake its made back in less than a month so no big deal, appreciate all the replies guys even though they all contradict each other! lol
By the way, I used many signal services in my early sessions of trading! According to me, maximum signal providers are scams! They show their fake result, and after taking their service by money you might be know their actual performance! That’s way I prefer manual trading!
Yes that’s correct - when the account starts. No point in showing an empty account! The website also quite clearly says “draft”. Come Feb next year it will be a free for all public domain.
I haven’t personally used any of these services before but I would say be cautious about who you choose before jumping into the deep end.
There is a lot of scepticism in the retail trading community (including on here) about using non blue chip signal providers…i.e. ‘why would they not just trade the system themselves’ amongst other rationalisations.
I think you should keep a more open mind; a lot of people might want to license their signal data to develop additional income streams for their trading business, this is especially most likely with non blue chip providers who might not have enough capital to fund the account to their desired level from the get go.
Do your research well I would say and make use of their free offers.
Bahahahahaha, that’s going to leave a mark. You remind me of my brother from another Mother Cabletrader back in the heyday of ET. We had a hoot harassing the greatest stealth vendor known to man, TRO.
If I may, lets look at the numbers, obviously this applies only to the USA, and not to anywhere else.
Trader Crotalase has a two year record of trading small size
Gets series 3, 36, and 66 certification A little over $300 for all three
Knocks at trading house door
Accepted, funded 10mio to start
Lets say, 12% payout on 24% percent
$288 k per year, not bad and with no student debt
As you are enabled with more and more funding you can see how 1mio a year is easily reachable, but of course you have to be able to trade, and “ay, there’s the rub!”
There is far more money to be made trading than selling signals or Guruing.
Sounds good. If someone was working with a 50k account and a solid system bringing in 5% month in month out say; that would be 2.5k a month. Assuming you compounded monthly on that you would have 89,792 at the end of one year so would have made 39,792.
On the other hand you could also license your system @ 70 per month. Assuming you could attract at last 200 regular subscribers then you would be making 14,000 a month from that or 168,000 in the year. An additional benefit might be that the licensing receipts would be fixed/regular income whereas the trading performance would probably be up and down.
I just think for some people the the maths makes sense i.e. it is not some kind of conspiracy.
Hey, Ro, I can see that. But it seems that there are so many trading “systems” scammers, I am sure you have seen it. No doubt, if someone new could find a service that was trustworthy they would be ahead of the game. I still think there is more money in actual trading than “sell side”, but i can see how it could work.
If you really want to learn to learn to trade then signals aren’t really suitable for that. Signals are good when you are trading well in order to compare your opinion with others.
They worked for me and many collegues of mine. Are a good way to start trading with some insight from traders with experience.
I tried several signal providers but ended up using one called sinaisforex. com because it was the best fit for me. They had good signs and with shown results reports and client suport in my language.
First week is free and then you have 50€ for 3 months and 160€ for 1 year
