Forex signals- Paid or Free?

[adrienneadams]

I am rare to use signal service, but I think depending on each trader's will, there is an investor trader that like to looking ways to invest in forex like following signal trading, investing in a PAMM account, or subscribing copy trading.

I think PAMM accounts or copy trading is a better opportunity for new traders to get exposure in the forex market but only if the professional trader you are using is actually skilled but that’s not an easy task. Traders rarely show their past performance and it’s hard to trust them without knowing their trading background.

 

[Flabbergast]

@adrienneadams I don’t have any experience with PAMM accounts but I’ve used copy trading service on Zulutrade and from my experience I just wanted to update you that traders have to show their previous performance on these platforms. They are even ranked on the basis of it. It’s a pretty transparent process.

 

[Alexander Hudson]

Yes, you can go for any paid signals but ultimately it will cause you no benefit. Self-capability development is badly essential. A trader can be a perfect trader when he has analytical ability and generate signals on his own.

 

[adrienneadams]

A skilled trader who is capable of working well in the forex market for the long term with good trading performance, open PAMM account or open copy trading, maybe can boost the profit from the program, profit sharing. FXOpen provide PAMM system on their trading service as bridge among manager fund and investors.

Yes, these kinds of accounts are useful for beginners as well as someone who wants to diversify their funds or doesn't have enough time to manage their accounts.

 

[adrienneadams]

Yes, you can go for any paid signals but ultimately it will cause you no benefit. Self-capability development is badly essential. A trader can be a perfect trader when he has analytical ability and generate signals on his own.

It’s true skills can only be developed by manual trading. You learn when you make mistakes.

 

[FXOpen Trader]

It’s true skills can only be developed by manual trading. You learn when you make mistakes.

I have been doing my Forex trading from the last 10 Years with the International and Reputed Forex Broker FXOpen Markets
They are a True ECN Forex Brokers.

 

[adrienneadams]

@adrienneadams I don’t have any experience with PAMM accounts but I’ve used copy trading service on Zulutrade and from my experience I just wanted to update you that traders have to show their previous performance on these platforms. They are even ranked on the basis of it. It’s a pretty transparent process.

How do we know that a trader is performing well? Are they ranked on the basis of max profits only? I doubt that it can ever be helpful in understanding that a trader has performed well.

 

[FXOpen Trader]

How do we know that a trader is performing well? Are they ranked on the basis of max profits only? I doubt that it can ever be helpful in understanding that a trader has performed well.

We will have to focus on making our profits from the trades that are being done by us.

 

[Flabbergast]

How do we know that a trader is performing well? Are they ranked on the basis of max profits only? I doubt that it can ever be helpful in understanding that a trader has performed well.

No, the ranking is done based on various parameters including max profits, number of winning trades, maximum drawdown, etc. You can check the performance on different timeframes. I usually consider the performance for the last 6 months.

 

[Tom Latham]

actually right now its very difficult to make sure 20% return according to trading balance due to US election. but whatever it is we the traders always try to bring profit minimum 5-10%.

 

[FXOpen Trader]

actually right now its very difficult to make sure 20% return according to trading balance due to US election. but whatever it is we the traders always try to bring profit minimum 5-10%.

We will need to understand the importance of using the Correct Trading signals.

 

[adrienneadams]

No, the ranking is done based on various parameters including max profits, number of winning trades, maximum drawdown, etc. You can check the performance on different timeframes. I usually consider the performance for the last 6 months.

That might be helpful but is it really as simple as copying expert traders and making money? What’s the catch?

 

[Eduardo Lucchese]

In Forex market traders should try to discover different ways to get rid of losses and bring advancement in knowledge. But they should not hasten to obtaining quick return. Gather knowledge from reputed sources. Online free learning sources are available but if traders can afford, they can go for paid courses.

 

[LouBega88]

Indecision is the result of inadequate of knowledge. Having a mentor can be a good option for a trader to develop this quality. For basic knowledge development, traders should rely the free knowledge first that they are getting from online.

 

[Flabbergast]

That might be helpful but is it really as simple as copying expert traders and making money? What’s the catch?

There’s no catch but copy trading is not as simple as it seems. It would be wrong to believe that you’ll always win because obviously success is not always guaranteed. If you want to be profitable, you need to constantly keep a check and reshuffle.

 

[adrienneadams]

There’s no catch but copy trading is not as simple as it seems. It would be wrong to believe that you’ll always win because obviously success is not always guaranteed. If you want to be profitable, you need to constantly keep a check and reshuffle.

Got it! What is the fees?

 

[Flabbergast]

Got it! What is the fees?

Platform is free to use. Costs depend on the spreads and commissions charged by your broker. Though you need to maintain $100 in your zulutrade account.

 

[FXOpen Trader]

Platform is free to use. Costs depend on the spreads and commissions charged by your broker. Though you need to maintain $100 in your zulutrade account.

We will have to make use of such kind of Trading based systems that are Easy to use and make the Profits.

 

[Bahiya Shinam]

Trading knowledge is my main strength here! Besides I know good broker assists a trader in a number of ways. Brokers also allow traders with a range of facilities that are alluring. However, the cardinal thing to notice in a broker is its regulation.

 

[Vermicious]

I won’t suggest depending too much on forex signals as they don’t work really well in all situations. It’s better to use them for getting an idea if you have analysed the market accurately or not. For that purpose, you will be good with free ones.