Use A Forex Signal Provider Without Any Trading Experience?

Pin It

Most Forex Signals Provider state you can copy their trading results without any trading experience. This appears to be a fantastic opportunity for many people who do not have the time knowledge or discipline to trade in the live markets on their own. But is it really possible to use a Forex signals service without at least some trading experience?

To be completely honest, even though you are using trade signals found by experienced traders, you still need to act and think like a trader yourself. As long as you continue placing the trades as instructed and use proper money management, you will gain the knowledge and experience necessary to develop the proper trader’s mindset.

The difficulty is, if you do not already have experience as a trader, you might not continue with the Forex signals provider long enough to develop the proper mindset and reap the long term rewards. Unobtainable expectations and confusion about what Forex trading can and cannot do will lead to premature abandonment of the service more often than not.

Becoming a disciplined, successful trader is about coming to grips with loss. The only guarantee in Forex is there will be losing trades. There will also be losing streaks. Some months will be great and everything will go your way and some months things will be a challenge. You can not predict your profits, and even one year can vary greatly from the next.

But loss is not really all that important, because you do not need to win all the time to reach your Forex trading goals. You do not even have to win every month to change your financial future for the better. Once you understand this, and can continue to place the trades with discipline and consistency, you will have developed the proper trader’s mindset.

The best suggestion I can make is to make a long term trading plan and make a commitment to the Forex signals service. Think of it as a marriage. Dedicate yourself to using the service exactly as it is intended for the long haul. If you have trouble dealing with losing trades and developing the trader’s mindset then lower your risk by using smaller lot sizes, but do not give up. When you get used to trading the signals and align your expectations with reality, you can increase your lot sizes again.

Forex signals service providers, like Set and Forget Forex Signals, are a great opportunity to get professional trading results with very little time or effort. But truth be told, the Forex Signals Provider is only part of your future success. You still need to learn how to think and act like a pro trader if you want to stick to using the service and get the profits you deserve.

Leave a Reply