Trading on FX signals sounds great: you just sit back, set the parameters of your trade on someone else’s advice, and watch the market move in the direction of profits.
While it’s not 100% clear that all FX signalling services won‘t work for you, it’s safe to say that they won’t get you the results you want.
As a trader, our purpose is clear.
Trading may not be a full-time job, but we put our money into it and naturally expect good results.
So why do I say that FX signals don’t live up to your expectations?
It has to do with your confidence. Let’s say you’ve been interested in astronomy since you were a kid, read about it, studied it in college, and become an expert in the field.
If you and another friend who is interested in astronomy go to a professional lecture and have a summary at the end of it, you are bound to do a much better summary than that friend.
It is obvious that your accumulated knowledge of this subject will add much to the knowledge of others with little exposure, and it should not be ignored that you must be very confident in your ability to speak about astronomy in depth and in simple terms.
Astronomy is difficult for most people, but your interest has led you to study for years and you have the confidence to tackle any difficult problem in astronomy.
The same is true of trading. First of all, you must have an interest. This interest will keep you interested in research for a long time, keep practicing, and then become confident.
Have you ever seen a self-taught professional trader profit from other people’s signals?
I never saw it anyway.
No matter what platform or service you use, the signals it offers are unlikely to match your trading style.
Everyone has a unique trading style, lifestyle, and way of thinking, and developing your own trading strategy isn’t just a matter of following a few rules, it’s a matter of tweaking it until it finally works in your favor.
This strategy should include proven principles in the trading world, and then continually adapt them to your own trading style.
Many people think that the foreign exchange signal is a way to save labor, but it serves different people, so there must be a deviation between the way you trade and the signal you get. If you don’t know enough about the transaction, you will not even realize this deviation, and you will only be confused about the effect of the signal and think that another signal service will solve the problem.
There will always be those who deviate from our perception and succeed purely on fundamental or technical analysis, and those who work best with a combination of the two.
There are a lot of searches on Baidu or Google for “the best FX strategy”, but no one is better than the other. The answer lies in each person’s understanding of the market and their own trading style.
You spend a lot of time doing the analysis, but you don’t want to live with the consequences of your decision. After losing money, you may think there’s something wrong with the platform or not believe you did something wrong.
Many traders do not realize that they have no control over their own behavior. Trading is not the last click of the mouse to buy or sell. It is more important to know what can and cannot be done before and after.
Relying on signals when doing analysis and being irrational when driven by emotion after entering the market are the enemies of trading.
Take responsibility. Every trading move and thought is about you.
Bad results?
So think about what you did wrong.
The pressure of loss is on your own shoulders. Do you have this sense of responsibility?
My advice to you is to get rid of forex signalling and again, I’m not saying all forex signalling is bad, but the best signalling is for the short term, but to be successful in your trading business, you need something that is useful and solid over the long term.
Even if a signal brings you a little profit, it won’t last.
But once you get into the bad habit of relying on signals, it can be fatal to trading.
That’s why we’ve always warned people that forex signalling won’t get you the results you want.
Anyone who has been trading for a while knows that the market is difficult and unpredictable, and that there is no shortcut to it, because no method can cover the market and all its characteristics and styles.
