Many people who trade forex rely on being sent forex signals to know what to trade. This is because learning how to trade forex completely on your own without losing wealth is so complicated that few people actually learn how to do it well. Yes, there are many training courses and “systems” you can learn from, but the reality of the forex market is that you don’t really learn what you really need to learn without actually doing it.
Often times, after people have tried to learn in such courses, they end up losing a lot of money on their first attempts to make that learning really work in the real Forex market. They soon realize that unless they get help in the form of a forex signal, they will probably spend their entire investment before they become skilled enough to really make money and not lose money with forex.
Then the question arises which forex signals are the most profitable?
Where should you get these signals?
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Most people opt for software or an online platform that generates forex signals based on your specific preferences – your risk tolerance and so on. They are automatically generated from pre-programmed algorithms that are usually based on a specific trading system. The better ones are retested with historical data in an effort to actually generate profitable signals.
However, these automated signals lose profitability very quickly (usually before you even buy them) because the forex market changes so much in short periods of time that software updates can’t keep up – real human beings need to record changes, learn how to deal with them , tell the developers, and then actually program them and send updates (aka “patches”). By the time that happens, the market has already changed again. Also, it is important to note that it is impossible to program how to deal with unexpected news that so often affects the forex market.
Only a true trader, one who has years of experience in Forex trading, can really keep up with the constant changes in the Forex market and deal effectively with unexpected news – in fact, they often clear when it comes! These merchants do not use only one system, but will actually use several. They will switch between systems and invent things as the market changes and sways. This is where the experience comes into play (and a really good skill for it).
This means that the best source of forex signals is NOT from automated software systems. The best source is to get signals directly from real traders who are actively trading in the market on the same day and at the time they send you signals. Keep in mind, you don’t even want signals from an experienced trader if you are not trading the same day and time. You want signals from someone who has a good feeling for that moment in the Forex market.
You need to make sure you are dealing with a trader who has proven performance and sends you signals in real time. You need them in real time to have enough time to jump in and follow their signal trade signal. It’s a great way to learn and make a lot of money in the process.
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