Forex Trading Signal Services: How To Get Best Results

Forex Trading Signal Services: How To Get Best Results

Hi I'm Scott Shubert in this video I'm going to show you the four steps to getting the best results using a forex trading signal service or signal provider then I'm going to show you which signal providers are the best and get the best reviews a lot of people have become interested in forex trading signal services the idea is that learning to actually train yourself is just too difficult and it takes too much time it takes years so it makes sense that many people want to make money immediately without having to go through years of trial and error and experience the pain of losing many accounts while trying to develop a skill that most people will never have so I was interested to see if anyone is actually making any money using a forex trading signal service to copy someone else's trees because you may find that it's not as simple as it sounds you might assume that using a forex trading signal service copying another winning traders trade you will also get consistent winning trades but you may soon find that there are even some challenges involved in doing that challenge number one is delay of entry one thing that a lot of people don't realize is that if you're using a forex trading signals service you actually need to be at your computer waiting for the signal so that you can enter now it's possible that you could be carrying a mobile device and you can set up your mobile device with a certain notification sound and then when the sound goes off you could pull out your mobile phone and enter the trade as quickly as you can if there is a delay of even up to a few seconds sometimes the trader who originally generate the signal might have already exited the trade before you actually see the entry to get in and even for medium term or swing trading sometimes a delay of to one minute or more could mean that the trade entry is no longer available the second problem is not knowing the reason for getting in if the reason for getting in is a visual or technical thing then how do you know that reason and then how would you know if the trade is still valid and if you did get in what would determine whether that trade was still valid over the next period of time after you get in for instance when I show someone the reason for getting into a trade in order to even explain why I get in I'd have to show several different time frames and usually I have to show several different pairs when I'm stalking a trade on a group of pairs like the Pound pairs a change in one of the currencies is definitely going to affect which pair I choose to get in if you don't see any of that or you don't have any idea why an entry would be an entry then you can't really make a judgment call as to whether the trade would still be good and you can't really measure the projected risk to reward at the current entry price at the time that you're entering the trade likewise many times if there could be a really good trade and many traders would think that it's already time to get out or the trade might have even gone bad and think that it has gone bad when I can clearly look at it and say this is going to continue to go for the next three days and there's no question about it everything is fine relax so if you don't know that then you wouldn't be able to have any confidence in the trade that you just entered so the next challenge with using a forex trading signal service is something that you would discover with some personal self-examination and some goal-setting so let's just look at why do you want to use a forex trading signal service well I assume that you want to make some money and you have decided that forex trading might be a good way to do that except that it's too difficult and takes too much time so that's why you decided to use a forex trading signal service I would guess that most people who are considering doing this have never owned a business before and have not explored the idea of how to start a business so if you explore the idea of entrepreneurship and educate yourself get a magazine or a couple of books on how to start a business then you get an idea about what's involved so then if you're going to use a forex trading signal service why wouldn't you just want to open a managed Forex account and just leave all of the trading in the decisions in the hands of the trader that you know will make winning trades and then there won't be any delay and you know that it will be done right well I can understand that possibly the reason that people are doing this is because they don't have enough capital for the minimum required to open a managed Forex account and that's understandable and maybe also you see this as a temporary tool on your path to success in trading so what's most important is that you want to feel good about choosing this particular business for a specific reason so if you choose to make use of a forex trading signal service as something that is a tool in your path to success in trading let's take a look at some of the options that are available if you start looking for forex trading signals services one of the things that you're going to find it you may find some reviews that are very old and the websites that are mentioned no longer exist and the companies are out of business here's a company that provides trade alerts trade signals and they were supposed to be good and I read that they were recommended in different reviews and so forth but then I look here and their performance just seems like so not very good what you see is that in an entire month they're getting like positive 82 pips I mean I don't quite understand how you can go am a month and only get 82 pips if you're actually trading so normally I would tend to get 82 or 126 pips portrayed and you know at least do that two or three times each week and some weeks are are not actually profitable for them they're not all that perfect of results and also just very totally mediocre if if you ask me for you know why would you pay for these things if if they're not getting really good results so that's didi mark it's digital derivatives markets the next service that I came across that looks to be pretty good is called 1000 pit builder this company is also publishing their performance and it looks okay and it's verified and tracked and what they're doing is sending you an email or an SMS text with the important details about the entry price the stop loss and take profit and you get all that for only $97 a month so and if that equates to consistent increase in capital every month how could that not be an excellent very low cost investment and why are they not charging percentage of increase every month okay this signal service seems to be pretty good and it's called Robbie Newton's honest Forex signals dot-com I kind of like that just in case you were thinking if you think we're not honest honest Forex signals is our name you can't get any better than that but anyway they do have statements right here they they're pretty transparent about what it is that they're doing and what I'm now noticing is that they're actually using a trade copier service which was going to be the subject of my next video the difference between trade signals and trade copying so in terms of the number of pips and the percentage of increase in capital looks like they're getting a respectable return over the last two years and to be able to get this kind of service for just a monthly payment it's only 177 dollars a month and you can even have it copied in your trading platform so you don't even have to execute the trades that sounds like a pretty good deal now I found some other things and several of them were already out of business their websites don't work and some of them don't actually provide anything that I can see as being trading signals so I can kind of understand how these trading signal providers could be a useful tool that could help you in your path to get to where you want to be in trading personally I've never considered offering this kind of trading signal services maybe at some point in the future we might do something like that but what I do instead is to show people each day when I'm getting into a trade exactly and explain exactly why so that you understand why I'm getting into a trade and then when it's time to get out I definitely want everyone to understand why you would get out of a trade and I believe that's a much more valuable service that benefits people to a higher level and this is the kind of service that helps people to actually become real traders the subject of trade copying is another subject I believe that this is another subject that is worthy of a whole other video to reveal more about the industry that is now emerging called trade copying if you have had good results using a forex trading signal service or if you did not just leave a comment below I can use that information as survey results in one of our future videos so I did some research and I found out the forex trading signal service providers that are still in existence and have good results and good reviews and I made a small report to get immediate access that click the link in the description below this video and as always to find out what really works in forex trading and crypto trading go to WWJD mastermind calm

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