Honestly, I am not a fan of forex signals since I have heard people getting scammed because of false signals. It’s better to learn by yourself. This will make you capable of taking lessons from your losses.
Even if signals are thorough enough to encompass all the necessary elements from entry to exit including risk, it still omits the most important: following someone’s signal is adopting her belief system, formalised in a trading system. Example: as a professional short seller, i am naturally risk adverse (prudent position sizing) but disciplined (take the trade, follow the system). This philosophical tenet transpires in my algorithms. This may not jive with someone who likes big high conviction bets. When You follow someone else’s system, remember that you half heartedly embrace someone else’s personality without fully understanding it.
WimConrad posted: @sebking1986 Would you say that following signals can qualify as a trading system/ style? Isn't the basis of a trading system your personal input and the development to fit your personality/ trading style? I also agree that you cannot copy another person's trading system and expect it to suit you 100% - therefore even f you respect your mentor, do not try to follow everything he does blindly - develop all his good advice into your personal system.
Sorry I never saw your reply. No I don't. I don't think signals offer anything positive to an aspiring trader. They create laziness and often push a trader towards a style of trading that they haven't arrived at naturally, again because they are focussed on making money rather than process at a crucial stage of their development. As you say, hopefully a good mentor gives you a number of ways to rad the markets and you can then go away and practice, testing to see which methods suit your eye and process, developing them further into your own defined strategy.
If you can't spot the liquidity then you are the liquidity.
I don’t think it’s a good idea to trust any signal provider just for their word. Always do a thorough research about the provider's background. Although, I don’t like to rely on any such signals personally, It would be great if OP has given more information or real examples to help traders make their decision.
In a world full of scams, it’s not a good idea to believe in the forex signals coming from a random person. Either you should inquire about the trader’s background or test them on a demo account. Even if you find them okay, use them only as an opinion on your trades.
DavidPolianski posted: If anyone is looking for forex signals, commodities, indices, crypto. Please contact me. 75%-80% accuracy
Nice to know that you have a signal providing service that has tremendous accuracy. I personally never like using signals from others though. Neither I encourage others to use one. However, I am wishing you all the very best.
What if the signal providers also provided education, market analysis, fundamental analysis, COT Data analysis and retail sentiment data? This is what I usually provide to all my members and I currently have over 95% profitability on over 400 trades. (Which can be seen on my profile too).
I would also not recommend blindly following signals but if those services provide the above analysis too, it an be definitely beneficial especially to those newer traders who struggle with fundamentals.
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