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Some Helpful Hints to Finding a Good Source for Forex Signals

Jun 3, 2008
Part of the secret to being successful in the Forex market is to be knowledgeable of market indicators that impact the currency exchange market directly and indirectly. There are a number of factors involved --- economically, politically, and socially. Equally as important are the various indicators called "signals" which give you an indication of the right times to make a purchase or to sell your holdings. These also indicate the direction that the currency you're trading in is moving, namely up, down, or sideways.

Knowing how to find a good source for signals is quite a challenge when it comes to the task at hand. So here come all the questions. Should I pay for these signals or are the free ones equally as viable? Where do I find these signals? Are the signals reliable? Are they accurate? There is one thing for certain. If you think that you can find the best signal provider in one neat and tidy package all on one website, you are in for a major disappointment. Be prepared to get frustrated and discouraged because there is no single site that will give you everything you need in this endeavor.

First of all, investigate those FREE signal providers before you ever reach for your wallet and credit cards. Believe it or not, with a little bit of due diligence and research, you will find a few that can work for you. When you stumble across the numerous sites that charge a fee after letting you know that their signals are the best thing since sliced bread, be very skeptical. Chances are they don't have a clue what they are talking about, and you will be throwing your money away.

Secondly, focus on the evidence that points to the accuracy of Forex signals. That evidence is found in the signal provider's "real-time logs." If the signal provider cannot show you his real-time logs, and show them to you instantly, then you need to avoid them like the plague. Just remember that RSS feeds are instant proof to something updating in real-time.

Think about this for a minute. If these signal providers are so good at making money in the Forex market, and if they provide you with the best Forex signals on the face of the earth (as they often claim), then why are they selling them? If they are making the kind of money that they say they are with their indicators and signals, why are they so willing to share their success with anybody --- for a price of course?

Here's a cold, hard fact that was learned very painfully. The reality is that if they are selling these signals, it's probably because they suck at trading in the Forex market. If that sounds blunt and even harsh, it was meant to. Don't fall prey to these "Forex Freeloaders." They are making a ton of money --- off of the beginner's in the market who lack the knowledge of spotting a phony when they see one. Just remember if it looks like a duck, and walks like a duck, and quacks like a duck, it isn't always a duck. Sometimes it's a duck in a vulture's costume.
About the Author
Justin Stewart has used software to automatically trade the forex market allowing him to earn a living without lifting a finger, even while he sleeps. You can use the same forex software to get the same results.
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