Trading Signals are garbage and the Free Live Forex Signals are what guide a newbie trader to burn his savings. If you do not agree with this, it is not my problems and I don’t care. Trading Signals doesn’t turn newbies in expert traders. They don’t make people rich and they are bait and switch.
I can say this for several reasons. One of these reasons is that I worked some years for a Social Investment Network. I know how Trading Signals attract people and how they can influence the decision process of newbies.
Another reason is people who contact me telling about their losing of a big amount of money repetitively, by Trading Signals.
I don’t give and I don’t sell Trading Signals and I never will do it. NEVER!
I don’t do it because I am an expert trader and I know the limit between good and bad practice. I worked years to becomes so skilled as I am today and much more I will improve going forward.
The Universal Truth is that Nobody is smarter than the market.
Nobody can pretend to get or Buy the perfection (or something very close to it), for his trades.
My experience shows how Free Live Forex Signals are not in line with the reality around a Profitable Mind.
Seriously, If you are looking for Trading Signals, don’t contact me and don’t join on Profiting.Me.
Forex Trading Signals
Usually, but not necessarily, Forex Signal Providers give away their signals by units. They are groups of “entry point with take-profit and stop-loss”.
What I am saying is that the structure of a Forex Trading Signal is:
- Entry Point.
- Stop Loss.
- A Set of Take-Profit.
In general, there are 3 Take Profits to complete the Trading Signal, but this is not a must. Indeed, it is frequent to get Signals with only one Take Profit.
To make things more professional people give also a Time Slot of Validity for the Trading Signal. This happens most commonly with who doesn’t give Free Forex Trading Signals. They give a period of validity with an expiry that is usually long some hours, but also a few days.
In rare cases, professional services add also a description and later a success report at the end of validity time.
I can divide Trading Signals by two macro categories or groups:
- Passive Trading Signals
- Active Trading Signals
Passive Trading Signals
Who gives Forex Tips usually try to involve people in his private community. In general, there is a mailing list, so as Facebook, WhatsApp or Telegram groups and much more. People spread around any kind of information. In this way, they attract newbie traders, especially who is looking about Forex Trading for Beginners.
Passive Trading Signals can stay in these things. But the most common way to give Forex Signals is the newsletter. Usually, people send weekly or daily analyses with signals.
This means that Daily Forex Signals are the most common because they could expiry in some days. For the same reason, Swing Trading Signals have the same common use. But in reality, every email gives any kind of opportunity by signals.
So, every newbie takes the information that he receives by weekly or daily newsletter and base his orders on Signals.
The wrong thing in Passive Trading Signals is to consider a Forex Signal (or others) like a solid information.
Usually, people forget that the Market requires adaptability. The market could also not move has expected. So who looks for Passive Forex Signals should take in consideration that they could show details that are already old. In the same way, also details that could become old very soon.
Active Trading Signals
Intraday traders prefer Trading Signals for the very short-term. Then, there are Private Communities and Private Groups where people get immediate notifications for Forex Signals.
What is important is that Trading Signals are for “trades to take”, but also for “trades already opened”.
This is the same for live trading by Premium Services, so as by Free Live Forex Signals.
Indeed, people use Active Signals for day trading, especially for Non-Liquid Marketplaces. For example Penny Stocks Trading.
Read also: The Most Unknown Truth about Forex Time Frames
In Non-Liquid Markets, it is common to get a Trading Alert when the mentor has already opened the trade.
The members of the community receive the stocks trading signal some seconds after the opening of the trade. This gives some advantages and disadvantages:
- For day traders the Stocks Trading Signal could be delayed. Then, the first problem is that they receive the details mainly after the opening of the trade.
- These Trading Alerts have also the function to Pump a non-liquid stock, low-priced stock. So, these Live Trading Signals become a resource for those who sends them, inducing the pumping by his trading alert. Of course, this is possible if who sends the trading signal has a large private community.
This shows how much important are some tools for a Live Notification, over the classic emails. Browser Notifications, SMS Notification and an Alert Sound inside the Private Community.
The wrong thing with Active Trading Signals is to consider Forex Signals, so as Stock Signals, like a “must do”.
Instead, the live trading signals carry an enormous risk, because they arrive after the opening of the trade. So, other than giving a large reward to the mentor, pumping the low-priced stock, the traders chase a trade.
Active Trading Signals and Highly Liquid Market
For High Liquid markets like Forex, Paid or Free Live Forex Signals never will pump the market. This means that there is not sense to give away Live Signals. But newbies are happy to get Intraday Forex Signals. For this reason, there is a mountain for people who give Paid or Free Live Forex Signals.
In a Highly Liquid Market the only way is to base Signals on Price Action. The reason is that there is nothing to pump and all the catalysts can have different purposes and effects.
The Forex Economic Events don’t give details in advance, so there is no way to give signals based on catalysts. Instead, for Listed Stocks, important Catalysts like Earnings Reports and Contracts Signed can suggest Trading Signals. This happens because these specific catalysts can influence concretely the share price.
For different marketplaces, we can have different Trading Signals. Here some examples:
- Currency Trading Signals.
- Stocks Trading Signals.
- Futures Trading Signals.
- Vanilla Options Trading Signals.
- Binary Options Trading signals.
It is clear that there is a difference between Active Trading Signals. It is between Signals and Live Signals, according to the different marketplaces where traders use signals.
When a trader spreads a Signal after the opening of the trade, it is like a Trading Alert. Usually, it has all the details like classic Trading Signals.
A particular thing about Trading Alerts is that the trader shares his open entry with an Alert. Later, when he closes the trade, he shares another Alert with the exit point plus details.
Losing money by Free Live Forex Signals
Talking about Forex, there are around many people who look for Paid of Free Live Forex Signal. This happens because they are really looking for a shortcut to earn money concretely.
What people doesn’t really realize is that the use of Trading Signals gives ZERO Practical Advantages.
A trader takes an Active Signal or a Passive Signal, via SMS, email and so on. But its use is a limit. The trades use signals because they don’t want to make the effort to understand the market by themselves. So, they have no real interest to understand the Trading Scenario around the signal. So, the most of the newbie traders are still not able to understand what there is around that Trading Signal. Then, they are not able to check what they are doing using the signal.
Yes, I know that many of you don’t agree with what I said. But in so many years of Trading Relations, I can say that this traps the most of the traders.
Indeed, the real reason for which people lose money by Trading Signals is that they are so blind as lazy.
Talking about Paid or Free Live Forex Signals, people should never use them on Forex, like Trading Alerts.
The reason is that they induce people in an extremely high-risk trading practice. Indeed, they lose money for the most of the times.
Read also: Why Trading Signals are not the Best Forex Training
I know what I say. Many people contact me telling that they have lost $40.000, $20.000, $70.000 and much more by Trading Signals. They contact me because they are looking for help. But in reality how many of them want really get help? Almost nobody wants really get help.
Scammers and Mistakes
We see around who promotes Forex Trading Signals or Free Live Forex Signals spreading 85% of Successful Rate. But there is also who sells Trading Signals spreading a 95% of Successful Rate. These are promotional messages that are very common. But are they really true? Of course, they are only messages to attract customers.
It is possible to get a 95% of Successful Trades. I am a profitable trader, I am an expert trader and I have the skills to do it properly during a month. But I don’t go around to give or sell Trading Signals.
Read also: Forex Trading Journal Summary, Trades in Profit 94.12%
As I said at the beginning of the post, Trading Signals are Trash. The most of the people who promotes their services use them to get money from who is uncertain and naïve.
I am not telling that all the services are a scam.
But who sells Trading Signals without show his Profitability for the long-term, don’t deserve attention nor money.
Besides, it is important to understand what kind of service it is. There are so many people with an email and social media groups that sell signals for $20-30 per month. They show nothing. I would never spend 1 penny for these services. In any case, I never will spend 1 penny for signals.
Scammers are everywhere and it is very easy to recognize the most of them. They attract people in a very easy way, stealing their money and giving trash in exchange.
Never forget that who gives services for Free or for a few amount Money, he is giving nothing.
“The work should never be free. What costs nothing, later it worth nothing.” ~ Debora Oliosi
The Educational Purpose
So as my Multimillionaire Mentors use to do, I give only 1 merit to Paid or Free Live Forex Signals. This merit exists even if they are not a Forex Training: they can show a specific Trading Practice. So, they are not good for Trading and nobody should use them to set orders. But they can have an educational purpose.
Newbie Traders should never use Trading Signals or Trading Alerts, but they could look at them to learn something more.
But unfortunately, there is a big lack of Discipline. So, newbie traders prefer to get the Signals and use them for trading. Indeed, they lose money continually.
I repeat always that:
Lazy Traders never will be successful and they are the most lovers of Trading Signals.
Indeed, statistically, they fail systematically.
It is easy to recognize traders with the right mindset for success. So as, it is easy to recognize who has the focus to fail repetitively.
On Profiting.Me I take care only of who shows the right qualities and the right mindset to Succeed.
Those traders which do nothing to improve are lazy traders, they want to continue with their lazy habits. So they don’t really accept the necessary effort to change their situation.
What I know and it is a certainty, is that Trading Signals are a Trading Approach that Fails.
I can confirm this by my Trading Experience, my dedicated Trading Practice and more.
I cannot accept to see people scammed by who gives Paid or Free Live Forex Signals. But I am aware that who loses money is a trader who still has not the right trading mindset.
Read also: The Most Powerful Mindset to make the Best Forex Trading Online
Unfortunately, I know very well that who has a losing mindset, he doesn’t have the willing to improve.
I can try to help him in many ways, but he will do nothing to go forward. He will not accept the help, so as he will be too lazy to change his habits.
Only who really wants the changing in his trading practice, will find the way to become a Successful Trader.
So now, let me ask you some things:
- Did you ever recognize a Scammer who was selling Trading Signals?
- What is your experience with Premium or Free Live Forex Signals?
- Did you see how a Trading Alert works?
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