Forex Signals: WATCH THIS Before Paying for Signals
Forex Signals: WATCH THIS Before Paying for Signals by Petko Aleksandrov from EA Forex Academy: https://eaforexacademy.com/
Hello, everyone, it's Petko Aleksandrov and today I will be talking about the Forex signals. I will explain more about them.
I will share with you why we are not doing them in the Academy, why I don't like them, and why I don't suggest anybody base trading on Forex signals.
Number 1 is you are not going to learn anything.
Nothing.
When you are doing Forex signals, you just receive the signal usually on your phone. And you execute the trades.
For example, they will tell you you buy EURUSD long at that price, put your Take Profit there, put your Stop Loss there, and that's it. And if you keep doing that even for years, you're not going to learn anything.
Nothing.
And we are an Academy.
Obviously, we want to teach our students how to become traders and I think we do that really successfully. But if we do signals, that's really nothing to learn.
You will not become a trader from the following signals.
Second of all is I want you to understand how this industry works. There is no free Forex signal. There is nothing free in this industry. If you see free Forex signals, there is something behind it.
Either they want to take your e-mail, either they want to take your phone.
Don't ever give your phone for not just Forex signals, but anything because they sell this information to the brokers. They will not stop calling you, asking you to open the real account. Basically, this is how it's working.
And for the paid Forex signals, I can tell you that their business is just to collect these monthly subscriptions. So, for example, if you are paying €100 for a monthly subscription for Forex signals, this is what they do.
They collect people from different channels and they are selling them these Forex signals. They don't care if these signals are good or not.
If they succeed to have good signals, probably they will keep you as a client for a couple of months. But what usually happens is people pay for one month and they give up because there are no profits coming from these Forex signals.
And behind the signals stays Expert Advisor.
It's very easy to automate it nowadays to have an Expert Advisor on the platform and to use it for signals. Basically, it will automatically send the signals to the people. So there are no traders behind that signal provider,
no traders, and they use Expert Advisors.
Usually, they just buy some Expert Advisor that opens buy and long positions on different assets and they send these signals.
Obviously, it might happen that you will make some profits for some days and the others you will lose.
But at the end of the day, you have paid for that.
And this is what they care about.
And quite often we receive e-mails like, "What would be the best Forex signal?"
And the answer is I don't know.
I've never heard about such best or any good Forex signals. I will ask you something, have you ever met a trader, a profitable trader and you ask him, "How did you do that? How are you doing profits?"
And he will answer Forex signals, I follow signals. I've never met such a guy for over 10 years I've been doing that.
But why would you follow signals if you can trade with Expert Advisors by yourself?
Because obviously when you are doing signals, you are always late.
It comes on your mobile or in your e-mail, whatever they use.
And it will take you seconds, even minutes to enter the trade. And if they are using Expert Advisor you will be late. This is why I prefer to have Expert Advisors in the Academy, to include them in my courses.
Because when you have the Expert Advisors, you are executing the trades at the moment. You are not late and you control it because it is your platform. It's not like you are depending on somebody else, you depend on yourself. It's your responsibility. It's your control.
You have the Expert Advisors and they trade all the time at the right time.
When the signal comes from the Expert Advisor, from the strategy that is behind the Expert Advisor, you execute it immediately with the Expert Advisor.
So you're not late.
And the other thing I really don't like about Forex signals is that they will be bothering you all the time. All the time, beep from your phone.
So whatever, you are having dinner with your family, beep, Forex signal wait
I will need to open the trade here.
So having daily Forex signals, you will end up frustrated from the results, from the engagement that you need to be on the phone all the time.
And you will realize at one moment that you didn't learn anything,
you didn't make profits.
So I would suggest you really stop looking for Forex signals because it's not the thing that will bring you profits. It's not the thing that will make you a profitable trader.
If you are a profitable trader from Forex signals, please share it in the comments below.
Hello, everyone, it's Petko Aleksandrov and today I will be talking about the Forex signals. I will explain more about them.
I will share with you why we are not doing them in the Academy, why I don't like them, and why I don't suggest anybody base trading on Forex signals.
Number 1 is you are not going to learn anything.
Nothing.
When you are doing Forex signals, you just receive the signal usually on your phone. And you execute the trades.
For example, they will tell you you buy EURUSD long at that price, put your Take Profit there, put your Stop Loss there, and that's it. And if you keep doing that even for years, you're not going to learn anything.
Nothing.
And we are an Academy.
Obviously, we want to teach our students how to become traders and I think we do that really successfully. But if we do signals, that's really nothing to learn.
You will not become a trader from the following signals.
Second of all is I want you to understand how this industry works. There is no free Forex signal. There is nothing free in this industry. If you see free Forex signals, there is something behind it.
Either they want to take your e-mail, either they want to take your phone.
Don't ever give your phone for not just Forex signals, but anything because they sell this information to the brokers. They will not stop calling you, asking you to open the real account. Basically, this is how it's working.
And for the paid Forex signals, I can tell you that their business is just to collect these monthly subscriptions. So, for example, if you are paying €100 for a monthly subscription for Forex signals, this is what they do.
They collect people from different channels and they are selling them these Forex signals. They don't care if these signals are good or not.
If they succeed to have good signals, probably they will keep you as a client for a couple of months. But what usually happens is people pay for one month and they give up because there are no profits coming from these Forex signals.
And behind the signals stays Expert Advisor.
It's very easy to automate it nowadays to have an Expert Advisor on the platform and to use it for signals. Basically, it will automatically send the signals to the people. So there are no traders behind that signal provider,
no traders, and they use Expert Advisors.
Usually, they just buy some Expert Advisor that opens buy and long positions on different assets and they send these signals.
Obviously, it might happen that you will make some profits for some days and the others you will lose.
But at the end of the day, you have paid for that.
And this is what they care about.
And quite often we receive e-mails like, "What would be the best Forex signal?"
And the answer is I don't know.
I've never heard about such best or any good Forex signals. I will ask you something, have you ever met a trader, a profitable trader and you ask him, "How did you do that? How are you doing profits?"
And he will answer Forex signals, I follow signals. I've never met such a guy for over 10 years I've been doing that.
But why would you follow signals if you can trade with Expert Advisors by yourself?
Because obviously when you are doing signals, you are always late.
It comes on your mobile or in your e-mail, whatever they use.
And it will take you seconds, even minutes to enter the trade. And if they are using Expert Advisor you will be late. This is why I prefer to have Expert Advisors in the Academy, to include them in my courses.
Because when you have the Expert Advisors, you are executing the trades at the moment. You are not late and you control it because it is your platform. It's not like you are depending on somebody else, you depend on yourself. It's your responsibility. It's your control.
You have the Expert Advisors and they trade all the time at the right time.
When the signal comes from the Expert Advisor, from the strategy that is behind the Expert Advisor, you execute it immediately with the Expert Advisor.
So you're not late.
And the other thing I really don't like about Forex signals is that they will be bothering you all the time. All the time, beep from your phone.
So whatever, you are having dinner with your family, beep, Forex signal wait
I will need to open the trade here.
So having daily Forex signals, you will end up frustrated from the results, from the engagement that you need to be on the phone all the time.
And you will realize at one moment that you didn't learn anything,
you didn't make profits.
So I would suggest you really stop looking for Forex signals because it's not the thing that will bring you profits. It's not the thing that will make you a profitable trader.
If you are a profitable trader from Forex signals, please share it in the comments below.
