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New to this; where is the catch?

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vachikg
36
vachikg 2016.02.16 03:11 

Hello Everyone,

 

I am glad there is a community here I can ask questions...

I just came across this via YouTube, and it's very intriguing. I am looking at the directory of signal providers and I find signals giving yield up to 2500% in less tan 100w. From what I understand, i't somewhat of a safe investment with stop-loss and great history of purchase history. So to my question....I feel this is just too good to be true?

 How is it possible to grow your funds by hundred of percent a month?? just seems to good to be true..so my question is..where is the catch? What have I missed? I totally get it, there are signals that actually have negative results... but there are plenty of strong signal providers with good track history..why isn't everyone doing this? Much safer than stocks, etc..?

 

Bottom line..

 Is it really true I can put $1000 and grow it by several hundred percent within a year? or what have I missed here? from the looks of it, I'll be a million near by this summer :) 

Kory Kaai
195
Kory Kaai 2016.02.16 05:04  

Welcome Vachikg,

Yes it is possible to grow your account substantially over a years time. There are multiple things to look at when picking a signal to follow. The most important aspect to succeed in your investments is "Money Management". There have been many people who have tried to follow a signal without knowing what forex trading is all about, and either lose half if not all of their money. You have to be extra careful with controlling the amount of risk you take on each trade and the Minimum balance the account will have to be. Knowledge is, and will always be your friend while manually trading or following a signal. As for your question of why doesn't everyone do it? Well, the majority of people I have known who trade stocks either don't know what they are doing and just blindly pick stocks to buy from what CNBC or the chatrooms feed them.

People think that trading the Foreign Exchange Market is a whole new, complicated BEAST (which it is...) and don't even attempt to try. I live and breath FOREX, so when I bring it up (which is quite often), I have eyes rolling - while stating that they aren't smart enough or have the discipline it takes to learn it.

Francis Dogbe
9501
Francis Dogbe 2016.02.16 05:08  
vachikg:

Hello Everyone,

 

I am glad there is a community here I can ask questions...

I just came across this via YouTube, and it's very intriguing. I am looking at the directory of signal providers and I find signals giving yield up to 2500% in less tan 100w. From what I understand, i't somewhat of a safe investment with stop-loss and great history of purchase history. So to my question....I feel this is just too good to be true?

 How is it possible to grow your funds by hundred of percent a month?? just seems to good to be true..so my question is..where is the catch? What have I missed? I totally get it, there are signals that actually have negative results... but there are plenty of strong signal providers with good track history..why isn't everyone doing this? Much safer than stocks, etc..?

 

Bottom line..

 Is it really true I can put $1000 and grow it by several hundred percent within a year? or what have I missed here? from the looks of it, I'll be a million near by this summer :) 

is your idea to get rich by summer with a $1000? haha... you sure sound like a newbie
vachikg
36
vachikg 2016.02.16 19:50  

Thank you for taking the time to answer. So where do I get started? I have looked at a few signals that seems to have a good track record. 

Do you recommend going with the same broker as the signal provider? I am currently subscribed to a signal provider of a different broker account (mine is demo account with tradersway). I am noticing that all the signal providers trades are not being reflected in my trade and history tab. Maybe I am doing something wrong? My guess is that I am using a different broker and my broker does not support the trades done by the signal provider.. maybe you can shed some light?

Any signals you recommend? Would like to subscribe to them on my demo account and learn a bit more.

 

In meta trader 4, do I have to have the "Auto Trade" enabled for it to copy trades from my signal provider? or is that something different? 

 

Thanks again!

 

Kory Kaai:

Welcome Vachikg,

Yes it is possible to grow your account substantially over a years time. There are multiple things to look at when picking a signal to follow. The most important aspect to succeed in your investments is "Money Management". There have been many people who have tried to follow a signal without knowing what forex trading is all about, and either lose half if not all of their money. You have to be extra careful with controlling the amount of risk you take on each trade and the Minimum balance the account will have to be. Knowledge is, and will always be your friend while manually trading or following a signal. As for your question of why doesn't everyone do it? Well, the majority of people I have known who trade stocks either don't know what they are doing and just blindly pick stocks to buy from what CNBC or the chatrooms feed them.

People think that trading the Foreign Exchange Market is a whole new, complicated BEAST (which it is...) and don't even attempt to try. I live and breath FOREX, so when I bring it up (which is quite often), I have eyes rolling - while stating that they aren't smart enough or have the discipline it takes to learn it.

Francis Dogbe
9501
Francis Dogbe 2016.02.16 23:04  
vachikg:

Thank you for taking the time to answer. So where do I get started? I have looked at a few signals that seems to have a good track record. 

Do you recommend going with the same broker as the signal provider? I am currently subscribed to a signal provider of a different broker account (mine is demo account with tradersway). I am noticing that all the signal providers trades are not being reflected in my trade and history tab. Maybe I am doing something wrong? My guess is that I am using a different broker and my broker does not support the trades done by the signal provider.. maybe you can shed some light?

Any signals you recommend? Would like to subscribe to them on my demo account and learn a bit more.

 

In meta trader 4, do I have to have the "Auto Trade" enabled for it to copy trades from my signal provider? or is that something different? 

 

Thanks again!

 

You have a lot of questions. Here is something to read 

https://www.mql5.com/en/forum/10773 

Frequently Asked Questions about the Signals service
Frequently Asked Questions about the Signals service
  • www.mql5.com
Can I copy trades from MetaTrader 4 to MetaTrader 5 or vice versa? - - Category: trading systems
vachikg
36
vachikg 2016.02.16 23:21  
Francis Dogbe:

You have a lot of questions. Here is something to read 

https://www.mql5.com/en/forum/10773 

Pardon my ignorance, I will read your recommended link now. Thank you Francis. I hope you don't mind I friend requested you.

 

Thanks and have a wonderful day/evening/night :) not sure about your timezone 

Tim Sustar
503
Tim Sustar 2016.02.17 03:30  
vachikg:

Hello Everyone,

 

I am glad there is a community here I can ask questions...

I just came across this via YouTube, and it's very intriguing. I am looking at the directory of signal providers and I find signals giving yield up to 2500% in less tan 100w. From what I understand, i't somewhat of a safe investment with stop-loss and great history of purchase history. So to my question....I feel this is just too good to be true?

 How is it possible to grow your funds by hundred of percent a month?? just seems to good to be true..so my question is..where is the catch? What have I missed? I totally get it, there are signals that actually have negative results... but there are plenty of strong signal providers with good track history..why isn't everyone doing this? Much safer than stocks, etc..?

 

Bottom line..

 Is it really true I can put $1000 and grow it by several hundred percent within a year? or what have I missed here? from the looks of it, I'll be a million near by this summer :) 

Where to get started? 
First by cleaning your mind. 
There are two types. 
1. Realistic people: making few percent per month, trading for long term. 
2. Dreamers: hoping for huge profit but failing sooner or later. 
Pick your side. You won't be a millionaire anytime soon. Start slow. Otherwise everyone would be doing it. ;)
Francis Dogbe
9501
Francis Dogbe 2016.02.17 05:06  
Tim:
Where to get started? 
First by cleaning your mind. 
There are two types. 
1. Realistic people: making few percent per month, trading for long term. 
2. Dreamers: hoping for huge profit but failing sooner or later. 
Pick your side. You won't be a millionaire anytime soon. Start slow. Otherwise everyone would be doing it. ;)
Advice of the year. :D
vachikg
36
vachikg 2016.02.17 08:27  
Francis Dogbe:
Advice of the year. :D

I appreciate the advice. What is a common expected return I should aim or seek?

 

Please explain how there is signal providers with 2500% return and why I shouldn't subscribe to them. 

Francis Dogbe
9501
Francis Dogbe 2016.02.17 14:48  
vachikg:

I appreciate the advice. What is a common expected return I should aim or seek?

 

Please explain how there is signal providers with 2500% return and why I shouldn't subscribe to them. 

Please dont be deceived by the growth of the account. Check the strategy the provider is applying and see if it suite your risk appetite. 2500% ROI does not mean you will earn the same if you subscribe. i have seen good signals crushing. The market is like virus and always adapting 
Petr Baskakov
1178
Petr Baskakov 2016.02.18 06:26  

Everything is possible

a percentage should be taken before the actual 40 per month.

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