Signals are merely considered as paid information.
This is as literal as it is. Nothing more. They’re not news, they are not prophets. They merely depict or rather function as a simplified indicator that tells you what they think would happen. They’re news in numerical form, simplified right to the action. And that’s that.
I learned this from my clients, as they usually based their signals with their technicals or fundamentals before making their trade.
“The more paid information you have, the more knowledge you would have in a trade”
Signal Providers are not God
Another information that would rather much be obvious but many would not take it to heart, or acknowledge. They are not God. They make mistakes too, and they are as human as we are. Humans love to follow, and I’d met people who spent thousands of dollars just finding that 1 person to follow to succeed.
But things aren’t always constant.
Murphy Law at it’s finest
Everything could go wrong. This probably won’t need much explanation but you would actually be amazed by how easy things could go wrong. Every trade you enter could turn against you. The market is more choppy than you think and you’ll have to risk before you could ride the wave of technicals.
You still have to take responsibility for your trade at the very end
Good trades, bad trades, it’s still your trade. It’s always safest to do your technicals before entry. Know where you went wrong and remember what you did right. Start taking responsibility for your trade and you’ll be more discipline and a better trader.
You can’t stick to just one
Right back to the lesson regarding God. Humans love to follow, and I’d met people who spent thousands of dollars in hope of finding that “one” guy or that “one” method.
There’s no easy way to get rich. You can learn forex trading yourself, hone your technicals and fundamental skills, but then again you wouldn’t always be right.
90% of the traders lose money, that’s the benchmark on the internet and that’s what it always is. People usually ignore the failures and look at success.
You would never know what comes next
The Market is always unpredictable and we would never know what would happen. The rebellious market defies technicals always and sometimes we are trading sentiments, other times we're trading speculations, and other times, emotions.
Would diversifying risks help? We sure hope it does as we keep on working to acquire new signal providers hoping to find a bundle that would eventually