This imho is a valid thread. Especially for those that are finding the markets tough going. No one is going to stop the Xelsas of this world despising others unless he spits as well.
Forex signals services are the hard nuts to crack and i think we better go to news sites in order to get some market insights rather than relying on those services that can double our troubles in the middle of trading.
Useful to learn from another source like as news site, good analyst will share many information related market forex and economy condition, although not all trader like with trading based of news.
The problem with signal providers is that their past profits doesn't guarantee future returns at all. Although same as with self-trading. What you should pay attention too is risk management and risk-of-ruin probability, and how do they handle losing trades, their max. drawdown. Weak spots become visible during losses, because it shows how signal providers copes with stress and keeps himself from doing wrong trades in order to pare declines quickly. I used a couple of signal providers with Hotforex, split deposit between them in equal amounts and adjusted risk per trade to keep max losses at 1% from deposit. It was going fine but on the distance I stalled near breakeven so I switched to self-trading.
Here's the common sense I agree... if that man had such a success, he'd already be somewhere at the top, but...
Forex signals are good if they really works for you. But i have seen that there is no 100% working Forex signal sellers in market. So first finding them is difficult then trusting them is more difficult.
Even personal trader are also not trustable because ones you face loss then they are going to give up and say, it is part our our business. Trusting here is very big decision.
Surely, everyone can lose, and those who will to invest (=trust their money to a trader) have to understand that. The other thing that people trust money someone they don't know at all (account managers) and later those managers turn out to be scam
We need to do a lot of research before investing our money which unfortunately we don't do and obviously allow those scammers to take our money.