I’m currently learning forex. Beside this, I want to copy some signals so that I won’t loose any money.
To deprive you of the illusion right away, you will lose money! But this is normal in the beginning, because you will make mistakes. Through this you will learn and improve. Until you eventually make more profit than losses. And don’t invest money if you are not ready to lose it 100%! Because that can happen!
you will neither make profits nor learn anything helpful, that way
it’s pretty easy to identify signal services that have had a good few months of profit, but they’re not the same ones that are still making profits after you subscribe to them - there’s a process at work called “selection bias” which means that those few currently successful ones are always the ones you see advertising and being promoted and being recommended, but unfortunately, the fact that they happen just to have a few good months has no bearing at all on their chances of having a good few months again, because they had it by luck (there are hundreds of them so someone has to!), not by skill
that’s why it’s so common to join a successful “signal service” that suddenly turns sour as soon as you start following it
the people promoting them have marketing skills, not trading skills!
once you understand that fundamental principle, it’s really easy to decide whether or not to use signal services
in my idea, beside learning, work with a demo account and gain experience and when you are ready utilize real money. this is a better way than using signals.
Hmm, never thought about that. have you copy trade before? and were they good?
All that’s been said above is accurate. It is impossible to only win money trading FX. So take what follows from me that you could learn from an active pro trader who trades indicies at the London and NY sessions on a daily basis live on Telegram.
He is NOT a signaller, but he does provide good rationales on charts for opening and closing trades.
Google tradertom.com for more information. His disclaimer is that it is at your risk if you choose to copy his trades.
And don’t invest money if you are not ready to lose it 100%! Because that can happen!
looks like they scam, at first profit then account goes down to 0.
Thank you so much for your good suggestions.
Agree with some of the comments here! Personally, when I was starting out, I also tried copy trading because I thought it’d be the easy way to earn money. But, obviously, it didn’t work out for me There are a lot of scammers offering these services so just be extra extra cautious.