Buying a Forex system or trading signals to help you practice…
To my subscribers: I’m working on new important topics, but these are the actual red burning questions I can’t pass by in silence:
Got a question from one of my readers and decided to make it into a separate topic.
So, here we go, many of you, probably, had the same question.
“…I really want a make a fortune from forex. Will you advice me to subscribe for forex signals or buy a forex autopilot/robot alongside my practice. From your experience in forex which of the companies/website can you recommend that I subscribe for signals, and which robot is the best. Thank you my friend.”
Ahgrrrr… Don’t buy any stuff!
You should learn to trade on your own!
Signals won’t help you, you’ll only become a slave of them executing orders. Signals won’t help your learning, and when they are gone one day, you are left with nothing.
Robots/automated trading systems – these things are written and sold only to make money to the Seller. Please think over the words in this topic To buy or not to buy a Forex system. Besides, again, you won’t learn anything for yourself because the system is coded and you will only get order executions without knowing the logic behind them.
My friend, the online Forex industry (90% of it) is making every effort possible to blur your mind with statements like “I made hundred thousand dollars this month, and you can too! Just subscribe to our outstanding services for only $98 dollars…” And the more you see those mind-destructive offers, the more you’re tempted to buy it. You may go ahead and buy it, I promise you’ll cool down very soon after realising that it was either a scam, or a trading system to lose all your money in the end, or they sold you the air – the information which is available online for free. Either way, you’ll remember my words, I promise.
The catch here – newbies don’t know much. After buying such products or services, they think they got a great deal, and even write happy feedbacks to scammers. Grim reality… brrrr… Later on, on their learning curve they understand the tragedy of their naive doings.
What else can I say? When you grow your first teeth in Forex and know a lot about it, when you’re able to distinguish good products from bad, then you may buy something… but even then, you’ll be buying something out of what need? Because you weren’t able to succeed in developing your own trading method? That’s a shame!
Now seriously, if you are rich enough to pay for Forex education from the start – buy a serious Forex course, or get yourself a mentor. Let me cite myself (from http://forexdarkside.com/forex-system-sales-scam)
” P.S. Don’t mistake those who sell Forex Courses for those selling Systems. Selling a system is easy, for example, I know hundreds of them and can start selling tomorrow if I want to. Selling a trading course that would teach traders How to trade, What to look for, Why market is behaving this way etc, requires true knowledge and ability to be a Mentor. I respect professional traders who sell good educational courses. Not all of them again bother to create a book or a course, but those who do often truly enjoy sharing knowledge about successful Forex trading.”
And even then the very first thing is to learn on your own, and after that choose the course you want to take and be able to ask your mentor specific question that matter, instead of pushing a pen in the classroom. MWOO-HA-HAAA.. AAAAh… Sorry, it was too tempting to avoid.
Good luck, my friend!
** Forex Dark Lord **
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I’ve encountered a lot of web pages that offer to sell you the ultimate Forex money making machine, sure thing, 1000 pips per week guaranteed. First of, 99% of these scam pages look the same: long long scrollable page with colorful letters and “testimonials” that end with - special offer, limited time, only 59,99.
Lets use common logic here. If I was a person that has Forex system which can generate 1000 pips profit per week, I’d be living on a tropical island and drinking coctails - I sure as hell would not bother with making webpage that looks EXACTLY LIKE every other page which offers forex sytems. 1000 pips per week means I’m a millionaire within a year, I really don’t need 59,99 from Forex noobs.
If this line of reasoning is not enough to discourage you from buying into these scams, ask yourself, when was the last time you got something of enormous value for free or for really small amount of money? You get what you pay for, if it’s cheap, it’s probably crap.
And the courses from quality traders that FXLord mentions, yea, that can be ok, but I’ll tell you, you won’t hear anything there that you can’t read about on the web, just if you have enough patience to look around. Successful Forex trader migh tell you a lot about how to recognise trends, give you examples of how some indicator work and stuff like that, but they will never tell you what their trading rules and strategy are. It’s how they make good money and it has took them maybe years to develop it. Why should they hand it to you on a silver platter for couple of dozens or hundreds of dollars?
And in the end, no amount of money you invest into systems, signals, courses or whatever else might you find will not make you a successful forex trader. Only trading will. Get a demo account and start working. There are plenty of free systems out there, use them or make your own, but you have to actually trade forex for a long long time to become good at it.
I’m dedicating my short poem to all Sellers of the trading systems out there:
“Made it,
but don’t wanna trade it…
…Being rich remains a dream,
if I sell I might just win.”
Great Advice!
I am a new trader.. and i learned trading forex through a real live course. its not an automated system, but more to tutorial sessions along with the coaches. I really think its worth it. My mentor is a really successful trader in forex, futures, options stock etc. he and his company really gives out all they can to their student, like live trading along with the mentor, weekly tutorial classes etc. online help and support. i think all new traders should register for these kind of courses.. it really helps save lots of time looking around for free stuffs on the net and not knowing which ones are reliable. i registered at www.powerupcapital.com