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Chapter 39, Part II. Forex Scam - Trading Bots, Signals, and Brokers. Page 7

Discussion in 'Complete Trading Education- Forex Military School' started by Sive Morten, Dec 28, 2013.

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  1. Sive Morten

    Sive Morten Special Consultant to the FPA

    Aug 28, 2009
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    Trading signals services continued

    5. Human beings psychology is structured so, that it notices unwelcome event stronger than good ones. For example, if you will not take received signal today but the market will accomplished it – you will feel regret about it. At the same time, if you will take 3 losing signal trades in row after that – you will forget about it as soon as will see another missed signal opportunity. This lets bad signal services exist and be demanded by lay people;

    6. Here we have to give you the same advice – take a look at promotion way, remember Dennis The Menace 2. If they promise you gold mountains with just $50 monthly subscribe for first 2 weeks (to test the service) – be careful. If their signal service is so good, why do they share with it? Why they do not just use their signals for themselves?

    Pipruit: So, what I have to do then?
    Commander in Pips: I’ll give you different ways to act with signal services, depending on what you want to get.

    If you want just use signals

    1. Meet with our Forex Signals Reviews. At least this will let you to avoid many pure scams. You can also check the FPA's Performance Tests of many signals companies;

    2. If a signals service comes from a famous trader – he will not give signals absolutely free. Probably you will have to pay for something else – books, forum access, software and get signals just as some add-on.

    3. Test signals for some time on demo. Better if you will test them in different market environment – trending and ranging;

    4. If signals are provided with foundation and explanation – much better. In this case you can understand why they tell you to buy or sell, and you can compare the signals with your own trading plan;

    5. Using signals blindly is a dead-end track in trading – no experience, no success, no profit.
    #1 Sive Morten, Dec 28, 2013
    Lasted edited by : Oct 16, 2016
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