With the millions of Forex traders in the world today, everyone's looking to be successful and make money. Signal services have become a useful tool to do just that in Forex, telling traders what currency pairs to trade & when to trade them so they can make the most profit from their investment Most traders, from beginners to the most experienced experts, use automated signal services and chances are you're using one too. But so what if you're using one? What if the signal service you've been using is inaccurate or faulty?

Take a look at these 3 quick, yet very useful, ways to tell if your signal service is really the best available or if you're missing out on easy profits! Wouldn't you like to know if you could be using a more effective signal service and putting more money in your Forex account everyday?

1.) Is The Accuracy Rating Above 70%?

Some signal services or robots just provide loose signals based on incomplete information, causing the accuracy rating of their signals to plummet. If your signal service's accuracy rating is anywhere under 70%, it's a glowing red flag that it's time to switch.

The best signal services have an accuracy rating of around 85-90%, helping you make money on each trade!

2.) How Are The Signals Delivered?

All signal services offer email & text message delivery, but if these are the only methods available, the service is outdated & therefore not as effective. Real, cutting edge signal services provide signals directly on their site for members, via a pop up software and by email & sms text.

3.) Do The Signals Utilize Stop Loss?

All legit signal services and EA realize that the stop loss rate is a very important part in trading. Even if a signal service has an accuracy rating of over 90%, losing trades are part of Forex and planning for them is extremely important. Any signal service worth it's salt will make sure their traders set the stop loss rate every time as a precautionary measure.

4.) Don't throw your money away blindly trusting that any of these signals will work, use your brain and learn how to trade so you can line your own pocket with money rather then Affiliates and Owners of these robots and signal services, they get payed no matter what the results!

The people that make money with Forex do so because they put the time in to learn, people that use signals do so because they have the get rich quick thing happening, just remember the market isn't going anywhere and there is plenty of time for people to learn how to trade and once they do you will have the skill for life!

This is just my opinion sorry if that upsets you dannyson1

GP

Thanks for sharing GP this doesn't upset me at all!

I partially agree with you, the best way to ensure permanent success trading in the Forex market is to develop skills, proven strategies and, most importantly gain experience. A trading system, no matter how successful it may be, can't substitute for experience.

However, trading systems & signal services can be excellent tools for traders of any skill level, especially newer traders. Sure, the owners and affiliates get paid no matter what the results, but as long as there's a money back guarantee, the trader can try the trading system with a demo account and either way he wins, he either makes money or returns the product.

There's my 2 cents

I completely agree with Global, The very best way for you as a Forex investor to succeed is to learn to do it yourself. However very few have managed to find thier way but still want to make money so they resort to signals, robots, managed accounts etc.. That's okay but having some kind of a guarantee if possible is something you should look for.

These providers have absolutely nothing to lose, only the trader can lose money. Guaranteeing signals is almost impossible and most will not go out on the limb and give you a guarantee of any kind. I however think I have found a reasonable way to do this. I will guarantee that any trades I send will hit their T/P targets. If they don't then they will be refunded the cost of the trade I send even if the trade ended in profit for the buyer but didn't hit the T/P target I set!

I consider this a failure on my part and therefore the signal was no good and should be refunded. So unless the trades I send hit their T/P target I don't make money myself from the buyer. I shouldn't be rewarded for failed trades.

Still though the only real loser can be the buyer. There is no way to guarantee that the buyer will be in profit.As far as the s/l is concerned, I hate to personally set them myself. I beleive the trader should make that decision as part of their money management skills. What ever they decide they can afford to risk. Mostly that will depend on their account size.

I can't control how much a trader will decide to risk on a trade or when they decide to close a trade because they may panic and get out too soon or be a gambler and stay in too long.

But I can guarantee I only make money if the trade goes as I say it will. However if you would stop out or close a trade and it hit it's t/p target in the time frame I say it will then it will be considered a good trade and I will be paid for that trade. This is only fair to the provider.

I made 130% in only 17 days ...

nice signals to accounts directly

Which signal service of EA did you use to achieve those results ??

signal , whatever good it is. it is still signal. BUt it can be our second opinion. We have to read a lot of signal, prediction, and also news..

One of my favorite site providing the forex prediction and also analysis is www.gainscope.com/forex


you may visit www.gainscope.com/forex to get free forex signal, prediction and also analysis.

It's worth looking at automated forex robots, either to use to trade for you or to set up on a demo account and watch them trade (and so learn the entry and exit points - the signals) - then you don't need to pay a monthly signal providers fees. Edit: hijacking

That is true Jacob, analyzing and eventually learning how these automated robots trade can really help you in your trading. If you can truly trade like an automated robot without paying for one, you're getting a free, proven startegy.

I think robots are good but never as good as human intuition

I agree human intuition and experience is best but for those without experience robots can be lifesavers