Accurate and Reliable Signals
Recommendations on Market Products or Signals is against forum rules. You will have to do your own research.
I suggest you develop your own knowledge and experience first, so that you can better judge their quality.
Forum on trading, automated trading systems and testing trading strategies
Fernando Carreiro, 2022.06.07 14:40
Be it by fake agents, brokers, signals, or EAs, there is one weapon to beat them all — knowledge! Your knowledge is the key to prevent you from being scammed.
Invest and take time to improve your knowledge, to gain experience and improve your skills. Learn to do things for yourself and not to rely on others so much. You don’t have to be a master or even be very good at it, but the more you know and understand, the easier it will be for you to detect when something is not what it seems to be.
Learn how brokers work and how they are licensed and regulated. Learn about the different markets, trading conditions, types of accounts, leverage, and when you don’t understand something, ask first about it and get answers from different sources. Don’t just blindly accept things.
Learn to trade manually, even if you intend to use signals or EAs. You don’t have to be very good at it, but you need to understand all the different concepts of how orders are placed, how they are triggered, how to manage them, how to calculate and manage your risk, and all those pesky little details required to trade manually. Only then can you better evaluate the signals you wish to follow or the EAs you wish to use.
If you are going to hire someone to code your EA for you, then take some time to understand how coding works and some basic knowledge about it. Again, you don’t have to be good at it, but the more you understand, the easier it will be for you to communicate with the developer and provide valid, realistic requirement specifications and to understand how much work is involved as well as its value and how much to budget.
Also, learn to use the Strategy Tester properly and how to interpret the results. The better you understand it, and the more you use it, the easier it will be for you to evaluate the results from EAs you are considering.
So, in conclusion, don’t be a greedy idiot quick to jump onto anything “shiny”. Instead, be wise. Take your time. Invest in your knowledge and skills. Choose carefully.
Recommendations on Market Products or Signals is against forum rules. You will have to do your own research.
I suggest you develop your own knowledge and experience first, so that you can better judge their quality.
Thank you and I'm so sorry! I didn't realize my question violated the forum rules.
Recommendations on Market Products or Signals is against forum rules. You will have to do your own research.
I suggest you develop your own knowledge and experience first, so that you can better judge their quality.
100% I agree with you.
To be frankly that it was a best statement I've ever heard here :)
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Does anyone have advice on the best signal or signals to use for five-minute trades of forex pairs? I have found it very challenging to find the right combination of indicators for these types of trades, and the signals I have tried lag, repaint or just don't have the accuracy level I need. I'm reluctant to pay for a signal before I know that it will suit my purposes and some of the reviews on signals have made me very wary of purchasing them. Other reviews are very promising but don't elaborate as to whether or not that particular signal would work on very short-term trades. I apologize if this question has been asked numerous times already; this is only my second day on this platform and I am still learning how to navigate everything. For context, I am not brand-new to trading, I am just new here and trying to figure out the signals I should try in demo mode here before applying them to live trading. Any input would be greatly appreciated. Thank you in advance!