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Forget about forex signal alerts

Jul 27, 2008
If you're just a beginner to trading forex, then it is crucial that you invest your time into learning how to trade instead of investing your money into a forex signal service.

I'm sure that using a forex signal service seems a lot simpler. But how many rich and successful forex traders you've heard of that used somebody else's signals. The point is they took the time to learn the ins and outs of the market.

A major problem with a signal service is that how do you know you can trust the signals? After all, there are many bad traders out there. How do you know you're not getting signals from one of these kind of traders?

For argument's sake, let's say the signals are solid and you are able to generate steady profits from them. What would happen if the decided to close shop and not offer the service anymore?

What happens then? Most likely you're back to square one, because you never took the time to educate yourself on how to properly trade the forex markets. Your only experience has been trading somebody else's calls.

Now you are at a crossroads again. Do you try to find another signal service that you can hopefully rely on or do you take this as an opportunity to invest your time into getting educated about the forex market.

Many people think that trading forex is really complicated, but that's hardly the case. I know it may seem that way now because there is an overflow of bad information when you go online. But frankly, there have been many forex traders who are self taught.

The top two killers of forex trading accounts have to be fear and greed. Fear comes in where you are so uncertain and uncomfortable trading because you don't know what you're doing. Knowledge of price movement can cancel out fear.

If you're too overconfident then, that's where greed comes in. You have to be able to find a happy medium. But when you do, it's nothing but smooth sailing.
About the Author
You don't have to have forex signal alerts. What you have to have is strong quality currency trading training.
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