Reliable Forex Signals Service?
Using a Forex signals service seems like a great shortcut to profit in the currency markets. After all, taking the same trades as an already profitable Forex trader is always a good idea. And if you are going to use a Forex signals service, you obviously want to use a reliable Forex signals service.
But when people talk about the “reliability” of a Forex signals service, they can be talking about a few different things.
Reliable Forex Signals Service: Win Rate
Some people think “reliable” means having a great win rate. Well, no Forex strategy behind the signals service is going to win all the time. And the truth is, if the signals have a positive risk:reward ratio, the signals can be very profitable with only a 50% win rate.
Beware of confusing win rate with profitability. After all, what good is it to win most of your trades if the losing trades eat up all of your profits. Focus on positive risk to reward on the trades and your profits will be more reliable.
Reliable Forex Signals Service: Performance Reporting
Some people think “reliable” means that the performance the service is reporting needs to be verified by a 3rd party. This would make sure the performance they are reporting is really the performance of the signals.
While this can be helpful, this does not really tell the whole story. It is one thing to know what the signals are producing for the signal provider, and another to know what the signals followers are getting. A lot of time the signals are delivered in such a way that the signals follower can not get similar results.
So, a better question to ask is if you can actually get the same results as the signal service you are following. Many people are surprised to learn it can be very difficult to follow a signals service if it is not set up correctly.
*****Forex Signals Success Course*****
To learn BOTH what to look for in a Forex signals service
AND how to use the signals successfully,
please take our FREE Forex Signals Success Course.
Reliable Forex Signals Service: Ability To Trade The Signals As Close To Perfect As Possible
I lean toward “reliable” meaning you can trade the signals correctly. For example, if the signals are punctually delivered at the same time every day and the results the followers get is similar to what the service reports I would call this a reliable service.
Too often, signals services are set up in a way (lots of Intraday trades, trade management instructions, emails, text messages, unreliable trade copiers), that make it impossible for the follower to trade the signals correctly. This leads to missed trades, or missed trade management and very different results from the service. I would call this unreliable.
The best way to figure out if the service you are considering is a reliable Forex Signals Service is to take a Trial. A lot of Forex signals services have trials so you can see first hand how the service is run.
http://tradetheforexmarket.com/forex/reliable-forex-signals-service/http://tradetheforexmarket.com/wp-content/uploads/2016/06/Reliable-Forex-Signals-Service.jpghttp://tradetheforexmarket.com/wp-content/uploads/2016/06/Reliable-Forex-Signals-Service-150x150.jpgBlogFeaturedForexreliable forex signals,reliable forex signals provider,reliable forex signals service