Why Most Forex Buy-Sell Signal Providers Do Not Trade Their Own Signals

Some traders when they start in Forex and realize that it's not an easy task to continuously pull the profit from the market decide to look for some help. I was also looking for some type of buy-sell signal providers. There is a lot of scam involved in that business. If you find good ones can you still rely on their service?

I found that most of the buy-sell signal providers do not trade their own signals. As you know you may be a genius in predicting market moves but if you don't have what it takes you fail trading Forex. What does it take to be a successful trader? It takes a discipline to follow through the signals regardless the result of the last trade. That's why probably very few of those signal-providing companies trade in Forex. It is easier to get paid for the knowledge of the market than actually deal with your emotions in trading.

So do the signals from those companies will work? It can be quite surprising to see how one trader takes those signals and makes profit consistently. While another one keeps failing with them. Here is what happens to the latter trader. Once he notices that signals gave him a few losing trades in a row he gets upset and skips the next trade. It is that trade that would cover up his previous losses but he didn't take it. Or the opposite is also true. When he sees quite a few trades are winners he thinks that this is a holy grail and loads the next trade to the fullest and gets stopped out losing all his previous gains. I know it because I was doing the same thing.

If you go to any online Forex forms to read reviews about signal providing companies you will be amazed at how one traders report their continuous success with a company while others are complaining about the losses with the same signals. It all depends on mindset. Of course if signals are bad no one will make a profit. But if the signals are good not everyone will be able to profit form them.

Now question is can you actually make profit using the signals provided by those who do not trade themselves? I wouldn't work with such a company. But in any case the signals provided by a third party no matter how good they are, simply another tool in your toolbox. If you already have a discipline and right mindset to follow through any trading system with patience then a good signal service only will help you to achieve even more success. But if you are still struggling to make consistent profit then no signal, no tool can help you to achieve profit. You need a tool to develop the disciplined approach in trading Forex.

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