Many poeple are very doubtfull and suspicious about signal providers.
I can understand them very well, because I lost money with fx master
, wich is not a good one due to its poor risk management and large drawdowns.
But...I think newbies would better find a good provider than flying alone. There are so many bad mistakes to do on forex when you start trading...
Problem with the selection of 1 signal provider is finding a low-risk, very professional one.
I now trade with two systems found on the website mentionned at the start of this thread. One of them is very conservative and made
97-100% winning trades (37 winning trades in a row).
The secret is you must
not be too greedy. Many systems showing 500% return per year suddenly turn loser and make subscribers lose everything.
Here is my "never" checklist.
Never trade a signal provider showing more than 15% drawdown.
Never trade a signal provider youger than 2 months or 25 trades.
Never trade a signal with a Win/Loss ratio under 70-75%.
Never trade a signal provider sending signals every single day.
NEVER overtrade a signal provider (oversizing trades or over-averaging 1 losing trade).
I don't lose money anymore since I follow these rules. Signal providers made me richer than I was and
teached me how to trade (being patient, trading small, waiting for good opportunities).
If you are good at trading by yourself, sure, you don't need any advice, but it's not my case and
I believe only few retail forex traders can be successfull by their own.
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Re: Is there such a thing as profitable signals provider?
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