A lot of traders are wondering if Forex Signals can be profitable for them.
Here is a simple example that can describe whether a trader can gain or not by using FX Signals:
-You will have to pay either by volume or via a monthly fee
– There is always an uncertainty in the revenues/profits made from the signals provided. Even if the signals are good, you have to factor in trading costs (slippage, spread, commissions etc…)
– You have the risk exposure of the trades the signal provider has send you
Therefore (Uncertain revenues) – (A monthly fee + Volume traded + Costs of trading) * (1 – All Risk) = Not always profitable.
In summary:
Can be profitable, can be not profitable (depends on the quality of the signals)
However
· Leave behind for a while the 1.000.000.000.000 trading strategies that every “Guru” suggests through social media.(These guys have destroyed the market and they are responsible for huge losses for the majority of traders)
· Choose only professionals or companies and check the team behind them.
· A trader is the only responsible for his performance through his choices.
· Forget for a while the traditional FX signals services based only on Technical analysis and try quant teams which generate signals based on Machine Learning and AI algorithms.
FX24 Signals is such a service.
FX24 Signals are generated once a day every weekday at 00:01 GMT and delivered to subscribers via email (e.g. EURJPY-above-130.937-prob-68%)
Each email contains the following information:
The FX pair for which the signal was generated (e.g. EURJPY)
The threshold value and action (e.g. above 130.937)
The likelihood of the prediction (e.g. 68%)
Each signal ‘expires’ at 00:01 GMT of the next day, when it is characterized as successful or unsuccessful.
Signals are generated for the 9 major FX pairs (AUDUSD, USDCHF, EURCHF, EURGBP, EURJPY, EURUSD, GBPJPY, GBPUSD, USDJPY) .
The subscribers of this service are free to use their own strategies to trade the signals provided.
Before subscribing any Forex trading signals make sure that you know how to make the best use of forex signals in your winning trading strategy.
In Forex trading no one the better than the next trader, but you should be just quicker at admitting your mistakes and moving on to the next opportunity.
