How many people have read about making 124124124% return on your investment by following Forex Robots or Intraday Trading Signals? How many of you have read that you can get rich quick by trading Forex and Stocks?
Well, enough for this truly shocking statistic... The 90/90/90 Rule.
90% of Retail Traders lose 90% of their capital in 90 days.
These traders are people who fall victim to the open forum of rags to riches stories of trading from £1,000 to £1,232,2124 in under 30 days. If, no scratch that - when you see these adverts are you enticed by curiosity? Of course you are. Here's a brutally honest fact: If this was possible, do you think the banks would be doing this and SCALING IT so £1,000,000 to £100,000,000,000,000? Thought not.
Unfortunately, people want to make money quickly with zero effort. This isn't how wealthy people earned their living. To trade the FX / Stocks / Indicies you need to understand how to trade or at least receive the right information.
A lot of Signal Providers, whether it's an e-mail blast, SMS service or an App notification are usually triggered by Technical Indicators forming. This could be a break of a support / resistance level or a moving average cross over (a very popular one for the FX automated robots).
Furthermore, the past results pretty much show a clear picture of the same vertical ascent up Mt. Everest. These tests can be manipulated and not close losing trades - which most robots / signal providers don't show.
I know of some signal services out there that are truly powerful and provide solid signals out there. These are provided by market professionals and give a Buy / Sell orders. The difference between looking for signal providers doing it this way is that you know the levels before the session opens and that allows you to place your trades. You shouldn't have to wait for a lagging technical indicator to tell you when to buy or short the market.
If you are looking for extra information, a signal service can be fantastic. You can look at the markets in a different angle and you will get what you pay for. If it's £10 a month or seems cheap - then your going to get lots of signals that may destroy your account.
Intraday Trading Signals are difficult to follow. By the time you receive the signal, you have to find a computer / load the app/ then trade - in that time you may have missed the opportunity, or more than likely, saved your money.
If you are someone looking for an external analysis of the markets, signal providers are great. Just don't go for cheap, "automated" systems that can yield 42323% in a mili second.
Think Signal Services are just aimed at the retail traders? Not at all, Research and Analysis Firms send out their Recommendations and Market Analysis to brokerages, institutional firms etc. - In fact, Institutional traders are the largest consumer of signals and external analysis.
I personally would never trust a system that is down to a few lines of code or FX Robots developed by whizkids. At the end of the day, the Markets have been around way before these robots and it was the professionals who made the money then.
Well, enough for this truly shocking statistic... The 90/90/90 Rule.
90% of Retail Traders lose 90% of their capital in 90 days.
These traders are people who fall victim to the open forum of rags to riches stories of trading from £1,000 to £1,232,2124 in under 30 days. If, no scratch that - when you see these adverts are you enticed by curiosity? Of course you are. Here's a brutally honest fact: If this was possible, do you think the banks would be doing this and SCALING IT so £1,000,000 to £100,000,000,000,000? Thought not.
Unfortunately, people want to make money quickly with zero effort. This isn't how wealthy people earned their living. To trade the FX / Stocks / Indicies you need to understand how to trade or at least receive the right information.
A lot of Signal Providers, whether it's an e-mail blast, SMS service or an App notification are usually triggered by Technical Indicators forming. This could be a break of a support / resistance level or a moving average cross over (a very popular one for the FX automated robots).
Furthermore, the past results pretty much show a clear picture of the same vertical ascent up Mt. Everest. These tests can be manipulated and not close losing trades - which most robots / signal providers don't show.
I know of some signal services out there that are truly powerful and provide solid signals out there. These are provided by market professionals and give a Buy / Sell orders. The difference between looking for signal providers doing it this way is that you know the levels before the session opens and that allows you to place your trades. You shouldn't have to wait for a lagging technical indicator to tell you when to buy or short the market.
If you are looking for extra information, a signal service can be fantastic. You can look at the markets in a different angle and you will get what you pay for. If it's £10 a month or seems cheap - then your going to get lots of signals that may destroy your account.
Intraday Trading Signals are difficult to follow. By the time you receive the signal, you have to find a computer / load the app/ then trade - in that time you may have missed the opportunity, or more than likely, saved your money.
If you are someone looking for an external analysis of the markets, signal providers are great. Just don't go for cheap, "automated" systems that can yield 42323% in a mili second.
Think Signal Services are just aimed at the retail traders? Not at all, Research and Analysis Firms send out their Recommendations and Market Analysis to brokerages, institutional firms etc. - In fact, Institutional traders are the largest consumer of signals and external analysis.
I personally would never trust a system that is down to a few lines of code or FX Robots developed by whizkids. At the end of the day, the Markets have been around way before these robots and it was the professionals who made the money then.
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