I assume that you are asking about computerized signal trading systems. This question is very dear to my heart, as I have in the past worked for a firm that worked in this exact field, I have seen hundreds of trading programs some good and some bad. I have also seen thousands of clients trade them.
You can make money trading forex signals BUT. You need to be extremely disciplined. you need to start with a good deal of cash. You cannot let losses upset you and go off the deep end. You cannot make money and think that you are God. You must be a master of money management. You must manage your risk on each trade. You must be able to understand where the market is and what it is doing. For example, is the market trending up or down or is the market trending. You need to understand the market sometimes there could be a momentary spike in the market but not necessarily a change in the overall trend.
I pretty much gave what a good trader needs to be successful. Trading signals are programs that can do well under certain market conditions. For example, a trading system that is good when the market is trading in a range might make you some money but once the market changes and starts trending up or down, your program could become useless. Likewise, a signal system could be great in up trends and or downtrends, but useless when the market is stuck in a range. Sometimes a spike in the market will throw the trading system off. Some signals work well for specific pairs. Often trading signals will often miss when the market spikes and trade don’t close and losses occur.
So, should you decide to give it a go you need more than one signal system? Finding good systems is not easy. a lot of the systems around will use a nightingale trading method, meaning they close out winning trades and let the losing trades ride. So when you look at the stats that are based on closed trades you get a high percentage of winning trade ( as they closed) and hardly any losses as they are open and the outcome is not known hence they do not get included in the stats.
So the bottom line is this. In my opinion from my experience, I believe that you can make money with signals if you find the right ones and follow proper money management and risks. BUT only a small percentage of people can do it. Even if you have all the attributes need to be a good trader. Close to 95% or traders even with signals will lose, it just takes a little longer. DO not think for a second that you can buy a signal system and go to the beach, or make millions of dollars while you sleep.
I DO NOT RECOMMEND BUYING TRADING SIGNALS IN PLACE OF A SALARY.
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