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  1. #1
    Rookie Member Martin Bruce's Avatar

    Is it good to use signal software ? !!!

    Hello traders, I'm coming with a so old and common question. Feeling so much stupid but can't stop myself asking a this.

    Is it good to use signal software while you trade?

    If it is good, then explain me why!

    Thanks in advance

  2. #2
    Veteran Member Dan21's Avatar
    Honestly, no. It's not. The best thing to do is learn to understand the market's movements on your own, practice a lot and actually manage to achieve success with pure analyzis and a good strategy. Signal indicators are not something you can become really profitable with.

  3. #3
    Rookie Member Martin Bruce's Avatar
    Quote Originally Posted by Dan21 View Post
    Honestly, no. It's not. The best thing to do is learn to understand the market's movements on your own, practice a lot and actually manage to achieve success with pure analyzis and a good strategy. Signal indicators are not something you can become really profitable with.
    Thanks for the reply but what if someone using signal app to reduce the risk of loosing early trades?

  4. #4
    Legendry Member Okane's Avatar
    Quote Originally Posted by Martin Bruce View Post
    Hello traders, I'm coming with a so old and common question. Feeling so much stupid but can't stop myself asking a this.

    Is it good to use signal software while you trade?

    If it is good, then explain me why!

    Thanks in advance
    If you find a good one, but you won't because
    99.99% are just scam and they all lie about their ITM%.
    So NO, don't.
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  5. #5
    Master Member SeasaltMcFish's Avatar
    Using signals is not a way to lower your risk of losing trades, but a nearly sure way to lose money in the end.

    Learn trading yourself and save (a lot of) money!

  6. #6
    Moderator Kolyo's Avatar
    Listen, trading with signals is like driving with closed eyes. You can succeed for few moments but than will crash. The only good way to trade is to understand how the markets behave, who is controlling them (central banks, big hedge funds, etc.) and than use this knowledge to your advantage. I know it is frustrating at the beginning but later on if you are persistent you will find your edge and you will trade consistently on and off

    Hope that helps!
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  7. #7
    Moderator Kolyo's Avatar
    The best autotrading guy I know in the retail space is working hard for almost ten years to figure it out how to make consistently profitable trading bot. He tested thousands of strategies, neural networks and whatever you can imagine but he share with his followers few months ago that even with such incredible efforts he is not able to make such a bot.

    The problem is that on backtesting we can make great fancy strategy, but when you put it to work on real money it fail. This is because of the unavoidable so called curve fitting bias. There is almost no way to stay out of it. Whatever you do you will end up with fantastic strategy that will sooner or later fail.

    Market is a dynamic entity which always changes its behaviour and only the human mind can coop with such unpredictability and make money out of the chaos.
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  8. #8
    Moderator Kolyo's Avatar
    There are successful autotraders, but first of all they are math and physics genius, not ordinary people like us, and second in order to succeed they always change their strategy in order to adapt on the fly to the market fluctuations.

    They don’t use rigid strategies. I am big fan of autotrading but know very well its limitations and pitfalls. Till no I never see a strategy that is consistently profitable more than few months. There was once a strategy that was successful for three years, but finally it also fail with almost 50% drawdown which in my opinion is unacceptable loss.
    "The goal of a successful trader is to make the best trades. Money is secondary." - Alexander Elder

  9. #9
    Senior Member linda_fx's Avatar
    Quote Originally Posted by Okane View Post
    If you find a good one, but you won't because
    99.99% are just scam and they all lie about their ITM%.
    So NO, don't.
    Loud and clear. If anyone would create such thing he wouldn't share it with ordinary people, I think.

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