Resolved Question
What is your advice on using Forex forecaster, signals and softwares in trading, do they all work accuratety
There are some companies that claims that their tools works accurately, be it soft wares, forecaster, signals etc. what is your advice on that because i bought and paid for the services of 3 or 4 of such jargon, only to find myself in a mess
over 2 years ago
Best Answer - Chosen by Voters
If you pay attention on daily technical reports from different sources, you will find them ALL different, and every one with reserve and risk warning. Pivot Points are different on every site, Fibonacci also, and not to mention predictions and trade ideas. Specially trade ideas, that almost never work.
If any company could develop accurate market prediction software, way would they bother with marketing, packing, shipping and rest of enchilada, when they can hook-up on any trading platform and make millions?
We are all searching for some magical formula, so-called "HOLLY GRAIL", but do you really expect to buy one for 49.95?
It all comes to your own analysis, knowledge, and common sense. Use Demo account to gain experience, observe movement of charts, try to train yourself to recognize patterns instantly, but be aware that anything can happen...
It's called "trading plan".
Visit www.meetpips.com, www.babypips.com/school/, and read blogs and forums about technical analysis.
Be very patient, it takes months.
over 2 years ago
Source(s):
Answers (1)
If you had $250,000 would you hand it to a total stranger to trade for you? Hopefully your answer is no. You're doing the same thing by letting a signal service make your trades for you.The above poster mentioned that it takes months to learn how to trade profitably. In fact it takes the average beginner somewhere between 2 and 5 years to become a profitable trader. Practice practice practice on demo or a small micro account.
over 2 years ago
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