I would not describe myself as a guru or an expert in currency trading for this simple reason; I am not a devotee of blowing my own trumpet, I let other people do it for me. However, I can tell you with certainty that Forex trading is not as easy as some people would like to portray it. I have been a trader in this market for a considerable amount of time now and in the course of the period; I have experienced high periods of trade that sparked lots of confidence in my trading strategies. I would admit also, that in the same period, I have also managed to lose a lot of money in currency trades that I personally undertook.
In most cases however, my worst days in the forex market are usually as a result of poor analysis of the market trends normally due to lack of a reliable signal provider. I remember the first time that I came to learn about forex signals, at that time I was making small number of trades per day compared to a friend of mine who at this time, I can tell you that he has made quite a fortune from the forex market. The envy that I had for him at that time drove me to ask how he could be making so much in the FX market.
He answer that I received from him was interesting and simple; “The secret lies in how best you interpret the direction of the market on any given forex trading day”. He said. “And in order to do that, you need to utilize the best signals from the most reliable forex signal providers,” He added. What I forgot to ask is what you look for when it came to signal providers and that was my biggest mistake as most of my forex trading activities were marred with losses.
Lessons from my experience with FX signal providers
There are many forex signal providers currently allover and every single one of them is selling their services as the best in the market. I came to understand after sometime of using different providers that not every signal provider out there has the ability to meet your needs. When choosing a forex signal provider, there are some factors that one has to put in mind. If I were to look for a new FX signal provider any time soon, I know I would put the following factors among many others into consideration.
First, you can never be sure of how good are the signals from any chosen forex signal provider and for this reason; the provider should be willing to offer you with a test run. This enables you use the signals from that given provider and depending on how you find them, you will be able to make an informed decision on whether to continue using that particular signal provider. I would tell you for sure that the quality of a forex signal depends on how timely it is and how often does the provider update you on what is happening in the market. you wouldn’t want to commit your money on an FX trading strategy that was developed using information that is not current otherwise you will be only risking.
The other factors include the cost of subscribing to the forex signal service and how efficient are the signals especially when it comes to making profits per every forex trade undertaken. On that note, I have remembered one provider that does a great job when it comes to forex signal provision. For quite some time now, I have been using http://www.forexsocialsignals.com and am I glad that I have decided to stick with this provider. With their signals I am assured of a high chance of making profitable trades (60-70% chance) in addition to the simplicity that comes with using the signals from this provider. Also, www.forexsocialsignals.com has proven to be reliable as it utilizes automated systems which will send signals directly to you either by SMS or through and email as soon as they become available. Happy forex trading my friends!