Forex Signals Service
There are 2 ways to be a successful Forex Trader:
- First Learn, then Earn -
This way is extremely challenging and has a grim statistics -
more than 95% failure.
- First Earn, then Learn -
Find a reliable Forex Signals Service and let the forex professionals
show you the way to success.
The second way seems easier but in fact it is tough as the first one.
Reliable Forex Signals Services are almost impossible to find, and until you find one, your account is blown away.
In fact, both ways trap most of the traders in a hopeless vicious circle:
Vicious circle definition -
"A situation in which the apparent solution of one problem in a chain of circumstances creates a new problem and increases the difficulty of solving the original problem."
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- Learn a currency course / e-book / webinar / system / signal service...
- Test it for a short period with small size / demo account
- If it is not profitable --> return to step 1.
- If it is profitable --> use it with a larger account
- On the long run - the trader lose money:
- The trader does not have enough knowledge of the systems he trade.
- Day trading signals are not always clear.
- Lack of discipline.
- Mental pressure cause misjudged decisions.
- Back to step 1.
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Using currency trading systems without sufficient knowledge and experience will surly trap you in this vicious circle,
but why does Forex Signals trap you?
Are all trading signals services scammers?
No, what most traders fail to understand is that using a day trading signals service can be profitable only if
all the following conditions exist:
- No decision making by the trader
The Trader has no knowledge / experience with the trading systems used by the fx providers!
Decision making (what target to choose? which stop to use? ...) will lead to failure.
- Clear and detailed alerts.
Ambiguous signals like multiple targets / stops, unclear entries / exits,
will lead to misjudged decision making by the trader.
- Precise managing instructions.
A good forex signal is not enough! The Provider must help the trader manage the signal with clear precision.
- Profitable Trading Signals
The forex signals performance must be the same as the Trader's performance and both should be profitable in the long run.
A situation where a trader loses money from a trade while the signal service earns money from it, is unbearable and cause bitter disappointment to the trader.
