Profitable Forex Trade Signals

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Many people are making a critical error when looking for profitable Forex trading signal. Obviously, the first thing people look for in a Forex signals provider is profitable results. But what they should be looking for is profitable results they can duplicate in their accounts. In the following article I want to reveal two characteristics a profitable Forex signals service should have.

I know it sounds obvious, but you want to join a Forex signals service to make money, right? So, you find a Forex signals service reporting profitable trading, and follow them. But after a while you realise you are not nearly as profitable as you thought you should be. Here are the two biggest reasons for this happening, and how to avoid this problem.

When you join a Forex signals service you need to make sure you can copy the trade signals exactly. If you cannot mirror all the trades the service provides, you are not going to get the same pip numbers. This means you are not going to see the same profits either. Do keep in mind that due to broker differences in spread and price feed it is impossible to get exactly the same results, but you want to be as close as possible.

To copy the trades as closely as possible, only use signals services that use a trade copier to place the signals automatically. If you have to place the trades manually based on the signals, you are going to miss trades or mismanage trades. After all, if novice traders are tempted to make changes to the signals they can make costly mistakes.

The next, and less obvious problem, has to do with money management. How much money you make following a Forex signals service has a lot to do with your account balance and money management formula. Unfortunately, a lot of Forex signals providers only give you the signals, and not the money management.

You need to get both the Forex signals and the same, professional money management the service uses to get the same profitable results. Not using the same money management could turn profitable Forex signals into an unprofitable or risky trading experience. While you might get the same pip gains, you could not be as profitable because of the money management you use.

Finding profitable Forex trading signal is one thing. But you need to copy every aspect of the signals if you want to be as profitable as the service reports. This means getting both the signals into your account as accurately as possible and using the same professional money management that makes the signals profitable.

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