Is it okay to use forex signal services?

Discussion in 'Forex' started by Henry Edith, Oct 21, 2015.

  1. I am considering signing up with forex signal services. I have implemented some free forex strategies and it is working somehow. but I feel I need to make more money. Maybe I should subscribe to a forex signal for a fee. the question is, will it be worth it?

    What signal service are you using and how successful are you?
     
  2. I think they are useful. Don't go for the free signal services.
     
  3. It depends on the Signal Providers. If you want to pay for signal subscription, I think you are on the right track because paid signals work better. However, since Friday last week I have been following this facebook group https://www.facebook.com/groups/forexsigna/ and made more than $400 already on three trades I got from the signal. It is free.

    I joined one group some days before that friday, but they were focused on adverts rather than signal. shame!

    Do your research for other trade signal. you can even use Trade Copy system if your broker offers the software.
     
  4. I'm in the same camp, because I dont know how to trade correctly. However, a verifiable track record would be a pre-requisite.
     
  5. I joined this group. Not many followers, but I the guy is winning trades too.
     
  6. doggyfx

    doggyfx

    MQL5 or MyFxBook are best sources. Used them with Hotforex before using Autotrade feature but you need to manage risk yourself as some of them utilize really aggressive trading strategy (not for my 700 bucks deposit)
     
  7. wrbtrader

    wrbtrader

    Very odd question you ask considering most have FREE TRIALS for you to decide if its worth it.

    In addition, many free websites where traders post their live calls along with the website maintaining a performance record along with showing the top traders with the best performances.

    Simply, lots of free stuff out there for you to use and to easily answer that question...

    Will it be worth it?
     
  8. pinfire

    pinfire

    I did worked with paying signals in trading .It give me profit. I was not much satisfied with them .I had difficulty to follow signals as I can not trade at particular time . You can do trading on signals if like . It is not essential part of trading.
     
  9. Humpy

    Humpy

    I have been looking at https://room.signaltrader.com/en/auth for some time and it looks really good. One has over 400% profit on many trades. They are registered in Cyprus.

    Minimum deposit $5,000 !! or demo. One can see the open positions of listed traders.

    Anyone heard of them ?
     
    Last edited: Nov 2, 2015
  10. 5k deposit is a bit heavy, though its the first time hearing of them, will have to check into it,.
     
    #10     Nov 19, 2015