How many times have you read an advert or a website that has been thrown together and states some really astonishing facts:
"Mother of 4 makes $6,432 a week trading these signals"
"Absolute beginner has a strike rate of 80% and makes $4,132 every day on autopilot"
hhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh
Because of the above stats, let me give you a well known industry stat.
"90% of traders lose 90% of their money trading in the first 90 Days."
The above stat demonstrates why people look for trading signals / tips / ideas.
These are VERY popular. So much so that people like to use them instead of using a standard stockbroker or a professional investment manager. You can see why as brokers charge more than the stock price just to buy into their idea, every single time.
So people are more tech savvy and frugal thanks to the advances of technology, Forex has exploded on to the scene for investors as a way to trade themselves.
You should always consider the value of your services:
If you are paying for it, is it worth it? Is it £5 or £100 a month? What do you get?
If your receiving them for free, is it worth it? Are the signals good quality? Are they frequent?
Whether you pay or not, at the end of the day you are looking for the research to make your money work harder. Paying for a service that is to a premium adds weight behind the signals purely because if they were too expensive, no one would buy their signals.
Check out below, what are the best things to look for in a signal service provider.
Now, don't get me wrong - Trading Signals can work - at the end of the day, to buy or sell is 50/50.
This article is not to discredit the services out there but to be wary of the kind of promotions and what people are selling. They are unregulated, so people can literally put what they want. Which will not do you any justice for your hard earned cash.
Just need to make ONE thing VERY CLEAR:
PLEASE NOTE THAT NO PROVIDER DOES NOT TAKE IN TO ACCOUNT YOUR FINANCIAL STATUS AND INVESTOR PROFILE; YOU ARE LIABLE FOR THE TRADING SIGNALS YOU SELECT TO TRADE AND FOLLOW.
So today, I will show you how to pick an appropriate provider.
How To Pick A Trading Signals Provider
Website - does it actually look clean and professional, or does it look as is it has been developed in a rush to quickly sell the service? Website can play a big factor as this is face of the business over the Internet.
Do they have a LIVE track record? Anyone can set up a demo, add a their signals to it and select the winning trades from the demo account and post them as a track record. Make sure they have a verified track record.
Are they regulated, or part of a regulated entity? If so then their promotions and everything you hear and see about the Signals HAVE to be SIGNED OFF by a compliance officer before any promotions can be made public. As it is an unregulated area, many providers are not regulated. This is a bonus.
Do they make wild claims? Give you an exact figure how much X can make in Y days? These kind of promotions are a huge red cross.
Do they have risk warnings, disclaimers and terms of service? These are necessary with every investment service.
Do they encourage you to trade? The providers do not give financial advice. No Signal provider should be encouraging you to trade. You have full control and execution - the signal provider only gives you trade ideas. It should be entirely up to you if you want to place the trade or not.
Pick a Trading Signal service that specialises with a select few instruments. If they provide quality service and quality signals, it'll be down to the face they are focused and experts on the financial instruments they are using.
Try them out first. ALWAYS do this, never go in straight away.
Price point. If they seem too cheap, and too good to be true - all they want is your money. If they can bring in 100 clients for £5 a month and lose 99 the next month they won't mind. Costly trading signals are there because they actually have value and provide a service.
If they claim to be ex-hedge fund traders, fund managers etc. quite simply leave the website, they are imposing someone else.
Do they trade the signals themselves? If they back their own signals and share their success with you, this is a no brainer.
Okay, so now you understand what to look for in a trading signal provider, you can look all over the internet for some high quality trading signal providers.
One in particular that offers Indices and Forex services is Alphaseekr Trading Signals.
You can get a 30 day trial by clicking here today.
Article Source: http://EzineArticles.com/expert/John_Hollin/2101697
Article Source: http://EzineArticles.com/9158800
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