Are forex trading signal software reliable?
Question by lamb2light: Are forex trading signal software reliable?
I’m new to forex trading and want to know if there are any reliable forex trading signal software out there?
Best answer:
Answer by Chiam
Yes, there are a few reliable forex signal software in the market. If used correctly, they can be quite accurate. I got mine from http://www.secretforexsignals.com I found that it’s more reliable with the 4 hr charts and used together with support and resistance lines.
What do you think? Answer below!
This is probably the most efficient market on the planet, and any canned software program is likely to be unreliable. Without scale, it is very difficult to trade profitably on a consistent basis in forex. Even some fairly large banks have closed down their currency trading operations as spreads have become razor thin with the advent of electronic trading. My advice is to find a less efficient market, or at least somewhere where you will have an edge. However, for my 2 cents on trading platforms, Wealth Lab is useful for back testing strategies, and Ninja trader is a very good execution platform.
It is always best to learn how to actually trade than it is to pay for signals. If a trader is so great why the hell would he need to sell signals? If the trader is really a good trader he would not need to be making an income selling signals to new traders. Some of the sites I recommend you check out for free education.
http://www.babypips.com
http://www.forex4noobs.com
http://www.forexfactory.com
Forex 4 Noobs has a chat room (it is free) the owner is often in the room and he alerts us when he gets into a trade.
Babypips is great for basic education.
Forexfactory has a large forum but honestly you learn a lot more stuff in the Forex4Noobs and BabyPips forums.
Don’t pay for signals learn to trade!!
Hi Lamb2Light,
If you’re talking about signal services, there’s one caveat I’ve to warn you about. Sure you can find good/excellent signal services but here’s the question … what happens when the guy providing signals is actually gone for one reason or another? Is that what you would call reasonable?
On the other hand, I strongly suggest that you take a look at non-blackbox trading systems that have proven to perform well in the forex market consistently and that don’t cost much. LondonWhisper is an example of that.
If you’re really committed to profiting from the market consistently with a reliable and well thought out mechanical system, then waste no time in heading over to http://www.forextradingstrategysystem.com
The system is backed by not just a 100% guarantee but a 110% moneyback guarantee so you’ve simply got nothing to lose.
Hope that helps buddy! =)