There are lots of forex trading signal services to choose from and if you find the right one can be making good forex profits but you need to consider two key points when using a service.
Here are the 2 points that can lead you to success with forex trading signals.
1. Beware Of This!
The fact is most of the forex signal services that claim top have made profits have not as the forex trading system has never been traded and this applies to well over 90% of services. Always check for the disclaimer below and if you see it do not buy the service – here it is:
"CFTC RULE 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. achieve profit or losses similar to those shown ".
This disclaimer allows anyone to make up any track record they like. Of course we would all be multi millionaires if we knew the closing price in advance – but we do not forex trading is a bit harder than that. Only choose currency trading systems that have a real time track record (audited) over 2 years or more – if you find one you need to consider the next point
If you do find a forex signal service that has a good track record, do not make the mistake of following it blindly. All forex systems will lose and have periods of loses and to stay with the system you need discipline.
Discipline only comes from understanding and confidence so make sure you learn the logic and have confidence in it to give you currency trading success. If you do not have the discipline to follow a trading system you have no method at all.
Lots of people will tell you the discipline is easy but it's not when your losing hard earned cash – make sure you are prepared for drawdown and losses every system has them.
You will not find many good forex trading signal services on the net but if you follow the two points above the first to get rid of the junk and the second to ensure you follow your trading signals correctly, you will have a profitable and quick way to forex profits – just do your homework first
Source by Kelly Price