Tuesday, 5 January 2021

What is a good paid Forex signal service?


 I don’t know if you have checked on telegram yet or not, but if you do you will find lakhs of groups and channels which are offering Forex signals for free and here you are asking about the paid ones.

I get it now, I used to follow those free signals as well and then it hit me one day when I lost the trade.. I had no one to hold accountable but for me and I am not a full time trader.

Plus some groups show their weekly signal performance, many of which doesn’t even had those signals in the group (yes I cross - checked), so I went in search for a lot of paid services, asked around, searched about the popular ones, took trials of a few companies but all in vain.

I just couldn’t decide which one to choose as they were not perfect.

And then I realized, that there is no perfect firm or signal provider who will provide me with everything I was looking for and thus I had to meet them in the middle.

Although, there were a few key things that I wasn’t ready to bargain with and neither should you! here I would just like to tell you those things, just an advice (Take it or leave it)

  1. Risk Reward Ratio : I wanted a paid service so that I can still earn in the market, hence I need and I repeat NEED to make sure that I am winning more than what I am risking. I know the ideal is 1:1 and I prefer it 1:2 so I made sure that it stays that way with every recommendation.
  2. Transparency - As mentioned above, you want to show me that you couldn’t make much pips this particular month, I get that .. the market is tough sometimes but don’t you ever send me screenshots of some signals you never placed or I never received. I respect transparency more than your fake profits, I don’t want your promises I need consistent returns. Period.
  3. Customization - Wait, you’re telling me you will provide me signals for a pair that I haven’t traded before, and have no interest in, plus with the lot size that can cost me my investment. That is a big no for me! So if you’re taking my money to provide me signals for my account then they better be customized according to MY ACCOUNT.
  4. Past Records - Show me your past trades, so I can find a pattern and decide what is best for me so hiding it from me for whatever reason will make your records look fishy and thus don’t do that. So make sure that you’re signal provider shows you their track sheets as well.
  5. My Session - I want the signals in London Session and thus it is the responsibility of your signal provider to provide you signals in which you are comfortable to follow them! As simple as it can be.

These were the 5 non negotiable things when I was choosing the paid services.

I hope this was beneficial for you!

If you’re looking for any more advice or want to know about my signal provider then Dm me, I won’t tell publicly.

Cheers!

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