How can I trade successfully through signal services?Johannes Röll 22 / March / 20 Visitors: 12
Many traders who have lost money in the market and spent quite a long tim without receiving any result are thinking about how to make this way easier. Services that provide signals both on a paid and on a free basis have existed for a long time and it will not be difficult to use their information, but there are several “buts” and we will talk about them below.
The benefits to services are:
earnings on the spread;
or a percentage of the subscriber’s profit is charged.
There are several positive factors for a trader:
minimum knowledge required for market analysis.
Immediately I want to note the following very important point: if you have already decided to make money this way on the exchange, i.e. with the use of someone else’s head, be prepared for the fact that you can’t always be able to repeat the result of the guru, especially if you work inside the day. The markets are volatile and you simply may not have time to enter or exit correctly, and also make even more mistakes if the signal suddenly turns out to be false. In any case, the calculation of money management and entry and exit points will fall on your shoulders, otherwise the result can be exactly the opposite of expectations.
If you suddenly decided to cooperate and use the signals of services, then it’s better to ask for the history of transactions for any period, the statistics should look something like this, and the longer the time period for the existence of the account and its balance, the better.
Of course, in our time it is extremely difficult to verify such information. Many people use several sources to filter signals and make better deals, but in this case you can not always manage to enter the market at good prices. As for strategies, think for yourself, you can only manage your own funds and risks here, the trading system is at the disposal of the author. You can only blindly follow him. The main strategy is to keep up with the signal generator, let's call it that, therefore I do not recommend choosing strategies designed for very short-term transactions, you simply will not have time. It is best to work in the medium term and diversify your capital with this trading approach.
In conclusion, I want to note that choosing this path, you are unlikely to become a professional, maybe in the moment you will make money, but I don’t think at a distance. Markets are volatile and what worked may not work in the future and you will never understand why this happens. It all depends on the goals that the trader has set for himself, but if you have already decided for yourself that cooperation with companies or private traders is the only right way, then choose those who trade on their own and provide direct support during the trading session.
Johannes Röll was born 1978 in Brilon,Germany. Graduated RWTH Aachen University. Over the past ten years he worked as Head of the plastic card team, where he was mainly responsible for the development of the distribution, Head of sales Department and Financial Analyst,where he got experience in planning and support sales figures for branches. For the present he works as freelancer