Hi,
I’m looking at using a forex signal provider, does anyone have any recommendations?
I’m learning as I go which is great, just looking to use signals from a trusted person/company to go along with my learning.
I’ve scoured the net for ages, every time you come across one you think looks ok, there’s another site with a review saying it’s a scam. Seems impossible to find one that’s trustworthy.
Thanks for any help and advice
Good comment.
There are actually some that appear trustworthy, too, which can be found by looking carefully enough, but even those won’t help you because the ones that are trustworthy and reliable now are not more likely to be trustworthy and reliable in 3 months time than any others you can find. In the long run, learning to understand the reasons for that will help you much more than finding any.
Good signal service doesn’t exist on this planet! You can try. But I seem learning is the only one way of beings a profitable trader.
There seems to be a lot of signal providers out there. Probably more signal providers than trading platforms.
Yes like I said, I am learning and not relying on signals alone, but when you don’t have as much time signal provides can be very helpful.
Rationally signals services cannot be a good way to make your own wealth through trading.
Think about it. If say you had previously worked for a fund or a broker or a bank trading for them in the forex markets and you can recognise what signals to use to trade. Now you’ve got your own cash machine so why would you sell this? Why not just use it to print bank-notes?
The conclusion is that if you can buy such a thing that’s because it won’t work, and the ones that do work (if they exist, ha ha ha!) are never going to be sold.
You’re missing the point. It isn’t about that. People are trying to explain why you’re wrong about this, but you’re not listening to us.
Epic reply! I also have the similar opinion on signal service. Manual trading is far better.
Yes I do see what you’re saying there. I do agree.
I think some of these signal providers are simply using their knowledge to generate more income. Think about it, they have the knowledge to make good trades (and sometimes losses) - so they simply say “hey if you want to make similar trades to me cool, pay me £50 a month and you can copy my trades” - they’re not saying they are 100% winners, they’re simply saying I make pretty good returns on my trades most of the time, if you copy mine you can too.
If you get 100 people doing that you’re making another income of £5000 per month simply by sharing your knowledge.
The difference is some signal people are good and some are bogus.
I had started my trading career by taking a signal service! Horrible experience on signal offer! They were perfect only in the 1st week, then I lost my full capital in the 4th day of 2nd week according to their calls.
That’s what they’d like you to believe.
I’m afraid that it won’t really be possible for anyone here to help you, as long as you choose to continue to believe it.
I disagree. I think they’re all bogus.
There’s no reliable way to value what you’re paying for. Buying cheap isn’t a solution because though the signals might only cost a few quid the same can’t be said for the blown trades and destroyed account.
At the risk of labouring the point, if you want to eat fish because you’re hungry, you can buy it from someone who has caught one or you can pay some guy who you don’t even know has a boat to go out tomorrow and maybe get you some type of fish. Or maybe he won’t come back.
Or you can learn to fish and never be hungry again.
I actually agree with everything above. I guess I’m just in that early temptation phase where I’m thinking hang on this could take me ages to learn and I’m seeing these signal providers around tempting me.
I do love the learning part of it, and it’s getting there, I think sometimes you see these things and think maybe there’s a quicker way to making more money.
Appreciate the honest heads up. I respect this forum and site a lot. Love how things are explained and the other thread I created was brilliant for helping me learn.