If this question was asked 10 years ago, we would have said “What? Why would you want forex signals?” but fast forward to now my response is “Why not?” , So the short answer is yes, and for the long answer stay tuned. Many traders are struggling with making money in the highly unpredictable market and are leaving more than joining in. To maintain the supply of the forex markets, there is only one thing that can be done and that is to make it a little bit more predictable and that’s what forex signals providers do, they make assumptions and provide you with accurate signals that can help you in recovering your losses and increasing your profits.
So the real question is “When is the Forex Signal membership worth it”, because let’s face it, you have asked this question after coming across their heavy charges, and are wondering whether to shed that kind of money is really worth it or not.
These are the typical situations when paying some money is not a bad idea :
1. You are making more losses and less gains –
The most obvious reason is that you’re not making any progress in your trade journey, and if this is something that you can’t control on your own or are unable to, then you should definitely think about the forex signal services and go out of your comfort zone and trust zone to start winning again. As, if you’re not winning in trade, you are losing.
2. Time constraints –
If not a full time trader then it is pretty much sure that you can’t always keep a tab on the market for more than 5 hours, that too on the maximum side and thus you are mostly unaware of the technical, fundamental changes happening when you are busy doing your own work. So if you’re someone who is finding it hard being a part time and an independent trader then you should definitely switch to the forex signals providers. They also provide account management services and if you’re not comfortable with that, you can take the signals and manually place it on your live account.
3. Trusted Forex Signal Providers –
There are many signal providers out there who are pure scammers and thus finding a genuine one can turn out to be a difficult task, but if you already know someone whom you trust and have seen proof of their work then you should join them.
4. Limited Knowledge –
If you’re someone who is just starting out, or just want to earn big and are not more focused on learning how the market works (some traders are like that, it is shocking we know) but for those kind of traders, these kind of services are more than perfect, they have the expertise and the time to devote to the market and provide you with just what you require to strike it big consistently, a win- win deal.
5. Risk Profiling –
Forex Signal service providers maintain your portfolio in a manner that you can get maximum out of your investment, guiding you with risk reward ratio, preferable lot size to maximize your returns and minimize your profits. Portfolio management enables the client to understand and evaluate its exposure better and maintain the forex health of your account, and if you’re interested in knowing the nooks and corner of the forex market, then by associating with a forex signal provider you can do it more efficiently.
6. Cost Constraints –
If you can afford the services and can recover your cost in no time, then you should not think twice about the services, doesn’t matter if you’re experienced or inexperienced, these services are there to help you and thus you should take advantage of them as soon as you can, just like the market, their prices are also going up.
7. Market Profiling –
Apart from risk profiling like we discussed before, forex signal providers also does the market profiling, by combining different segments of the market, you can get access to different markets and learn the correlation between them, along with increasing your hold on other markets as well. With better market profiling, you get more exposure into the market and thus more chances to earn profit.
What about free signals ?
There are many free groups which provide you signals for free, their signals usually forwarded in almost every group and they have no accountability, you would never know when they will ask you to pay for the signals and if you refuse, will leave you hanging in between, so instead of going for a short term temporary free thing, go for permanent long lasting right paid thing!
What about Accuracy ?
Well, We think trading with a 75-80% accuracy is way better than trading with absolutely none. Genuine signal providers go with this range as they know the market is volatile and there is no need to overpromise. So make your choice and go for the signals, otherwise you will keep losing your money and blowing your accounts (been there, done that).
What about Forex Robots ?
We would suggest that you shouldn’t go with robots, however accurate they claims it to be, make sure that a human is handling your account, someone who you can clear out your doubts with, have interaction throughout and trust on a human level. Forex Signals providers are working with a team that is dedicated to the market for more than 18 hours a day and hence, you should go with a physical team rather than a machine.
Apart from the above discussed things, there can be numerous other things as well, and you can always opt out of the membership if you don’t like it so go ahead and try it if you’re unable to trade on your own for any reason.
If you have some another query related to forex market, then feel free to contact me, We will be more than happy to address it.