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  1. #1
    Rookie Member

    What % of Traders do you think only trade with signals/EAs? !!!

    Hi,

    What % of new traders do you think are only looking for signals/EAs as opposed to learning to trade manually with technical analysis, indicators and fundamentals?

    Someone told me around 70% of forex traders are only interested in EAs and signals, and only 30% actually want to "learn" how to trade themselves.

    Does this sound right?

    With binary options, it seems even higher in favour of signals. For example as good as the CT forum is, it's another way of copying traders.

    From binary options traders I've spoken to, most usually say "I want to learn to trade myself, but I need to copy others with signals to get started and until I can trade". But then they never seem to want to learn to trade themselves - either because they were scammed by signals and got fed up; or because if they're making money easily with signals why should they both to learn.

    Maybe traders on this forum can chime in on to what extent they want to learn to trade!

  2. #2
    Legendry Member Okane's Avatar
    Hello.
    I think it would be correct to guess that almost every (if not ALL) beginner
    looks for signals when they learn about binary options.
    Most of them sooner or later give up on signals when they realize the signal providers
    are useless. I was searching for signals and holy grails too, but I never paid for a signal
    service, only had a 3 day trial here and there and quickly understood how bad they were.

    Actually I think that even pro traders can copy other pro traders!
    I mean, and I speak for myself, I only trade currency pairs so if
    there is a pro who is very good with trading a certain stock or commodity then why
    shouldn't I follow that trader and benefit even more.

    If they don't want to learn I think it's because they are either lazy or don't have time to learn.
    As for the learning, I think we can all learn even though we consider ourselves being independent traders.
    We can still learn from one another and become even more experienced.

  3. #3
    Administrator Martin Kay's Avatar
    well that's the problem with 90% of all traders I know. Traders put their trust in signal service of some kind, and that's it. They can quit their day job. That's crazy!@

    But the problem is not the signals themselves. The concept of copy trading is misinterpreted I think. There's nothing wrong in following and copying better traders. There's a good potential for newbies to join the industry, and after all that's what brokers want - more traders. It's a magic circle and overall this is a good concept, and im adopting this concept with CommuniTraders. I want newbies to follow better traders, but I don't want them to follow those blindly. 99% of the binayr options signal services are based on a currapt concept of "copy trading" - sell those newbies dreams they'll never achieve. SO here we have a newbie with no trading experience, beiliving he can become rich by following the candy man. sorry signal provider.

    On the other hand I'm suggesting a better concept of copy/social trading. I want traders to understand that copy trading should be social trading, and by social I mean engament. A signal will not be realesed if the provider didn't gave an exaplantion for the trade. A newbie trader will never follow a signal provider if the last don't have a proven record. There you have it: Transparency, Engagement - social.

    My wish is that this forum would become a hub for experienced traders and newbie traders (who WANTS to learn!). CommuniTraders is an opportunity for Binary Options traders, signal providers and brokers to mutual benefit. and my biggest wish... I want the Forex industry to adopt a similar attitude towards Copy Trading. If any of you heard of Etoro Copy Trading - a platform where Forex monkeys gather to try and imitate older more sophisticated monkeys. or if you wish, imagine yourself in a dark room maze with a Iphone in hand. It's so dark that you can't see. But you've your iphone, and it has a flashlight and GPS. Now imagine your battery just died. Good luck existing the maze my friend, good luck Copy Trading.

    long live social trading! vive la revolution! lol. got carried away in the moment
    “Don't believe anything you read on the net. Except this. Well, including this, I suppose.” ― Douglas Adams

  4. #4
    Moderator Kolyo's Avatar
    Almost everyone start without knowing much about trading. If not a hobby, trading is just another way to earn money. So, it’s not that surprising that anyone would prefer to give some money to someone to show him exactly what to do instead of losing a lot by mistaking. Most people don’t realize that all signal providers are scammers and that they promise impossible things. And all those adds sound so reliable and promising and wonderful. You need to get burnt or have someone to tell you how stupid this is. Otherwise you think that you’ve caught a golden fish. I’d say that almost all beginners try to find a “reliable” signal provider. They are nervous and not sure whether to believe but most of the time, they try because the alternative – to learn themselves seems so much harder. Then they see that this is not the way and they either quit or try to learn.
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  5. #5
    Junior Member
    Actually, I think a huge portion does, mostly newbies though. Around 30% I guess.

  6. #6
    Master Member Bogdan G's Avatar
    Quote Originally Posted by addz123 View Post
    Hi,

    What % of new traders do you think are only looking for signals/EAs as opposed to learning to trade manually with technical analysis, indicators and fundamentals?

    Someone told me around 70% of forex traders are only interested in EAs and signals, and only 30% actually want to "learn" how to trade themselves.

    Does this sound right?

    With binary options, it seems even higher in favour of signals. For example as good as the CT forum is, it's another way of copying traders.

    From binary options traders I've spoken to, most usually say "I want to learn to trade myself, but I need to copy others with signals to get started and until I can trade". But then they never seem to want to learn to trade themselves - either because they were scammed by signals and got fed up; or because if they're making money easily with signals why should they both to learn.

    Maybe traders on this forum can chime in on to what extent they want to learn to trade!
    Why is this important?

  7. #7
    Legendry Member Michael Hodges's Avatar
    the scammers want you to think that ea's and quick get rich programs are the thing, so they can scam you with one......

  8. #8
    Moderator Kolyo's Avatar
    Quote Originally Posted by Michael Hodges View Post
    the scammers want you to think that ea's and quick get rich programs are the thing, so they can scam you with one......
    Unfortunately exactly the truth. The best way to understand what the markets are and how to trade them is to learn the hard way – learning by mistakes, but we are here to help avoiding at least the most basic ones like that one
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  9. #9
    Junior Member smoki's Avatar
    I used EA enough to understand that it is better not to rely on them

  10. #10
    Moderator Kolyo's Avatar
    The problem with EAs is that they also need to be controlled by experienced traders all the time. One EA can work for a specific market conditions and other for different conditions and all these conditions are subject to human decision when to switch on or switch off particular expert. This is very difficult especially for newbie traders who even don’t know what does it mean back testing, forward testing and adapting the strategy to the market.
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

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