Profitable Forex Signals
Profitable Forex Day Trading Signals
There are hundreds of forex signals services out there.
If you take a look at their trading performance pages you will be shocked:
All are Profitable Forex Signal Providers!
Really? Let's fantasize about how rich we would be if we used their services.
Now, back to reality.
For years, unreliable Forex Trading Signals Services have abused their performance page to attract Forex day traders.
You cannot trust performance information of Forex Signals Services!
You need to test it for yourself!
Here are some misleading Forex signals performance methods:
- Show monthly pips earnings:
While this seems reasonable, it can be misleading: information about pips earnings without lot size is meaningless.
Also, some Forex day trading companies use the maximum pips profit that was available and not the real trade exit.
- Signals Success Percentage:
Profitable Success Percentage is meaningless.
A Trader can earn money, even if he has less than 30% positive trades, and another trader can be a loser with more than 90% positive trades.
- Selective Information:
A Trade is counted as a Big Winner, which is true. However, they 'forget' to mention that the stop was hit long before.
- Select the best profitable signals from multiple stops / targets:
Let us examine the following forex signal:
EUR-USD Entry: > 1.3180 Stop: 1.3160 Target 1: 1.3200 Target 2: 1.3240 Target 3: 1.3300
- Signal 1 - 3rd target was hit.
The provider will show you (rightly so) 120 pips profit.
But if you took only the 1st target you earned only 20 pips!
Your natural reaction will be - next signal I'll wait for the 3rd target.
- Signal 2 - 1st target was hit, but the trade change direction and hits the stop.
The profitable forex signals service will show you 20 pips profit (1st target),
but you have lost 20 pips.
- In conclusion -
The Forex Trading Service earned 140 (120+20) pips.
You have nothing in your wallet (20-20 pips).
There are numerous examples how Forex trading signals services can be profitable while the trader lose money.
Traders must be extremely careful with their money and test signals providers with demo accounts for several weeks.
Learn more about our
Forex Day Trading Signals.