Trading signals could be useful for traders for many reasons. First of all, they could be a great source of information, giving traders possibility to understand the way professional traders think and make decisions.
Another point is that trading signals sometimes could even be profitable, especailly for newbie traders.
At the same time, it is important to understand that using trading signals provide by someone else, trader becomes dependable on efficiency and performance of other trader, while it is necessary to be able to conduct own market analysis and make independent decisions to be profitable in any market conditions.
have you seen any gainful broker by utilizing the sign administration? I'm asking since, I have never observed anybody! As per my own exchanging background, various sign suppliers are the con artists!
Forex signals are good for the beginners that do not know how to analyze the market well or do not know how to choose the good positions of trading and so they can trade by helping of the signals of the others and they can follow these signals in opening and closing of the trades, but it is better for the traders to test these signals for enough time to filter them and see which of these signals are good and which of them are not and then he can follow the good signals and he will be able to make successful trading and makes some money that makes him happy and give him some confidence, but it is better for the trader after that to learn how to read the chart himself and trade himself because this will be better for him.
It is actually a trend to follow the signals and it is even easy for a trader to move with the help of signals. according to my experience personal analysis and trading is better and fruitful but it is some time hard to follow own plans and we mostly violate own self made rules. on the other hand we follow signals blindly and it can give better results. I believe, a trader must have a good control on emotion and then trading with a self made plan is better.
The best forex signal suppliers have a 70-80% achievement rate, implying that a large portion of their exchanging signals are winning and productive. Numerous forex signal suppliers express their success rate on their site—for instance, Learn 2 Trade shows its prosperity rate on winning exchanges is 82%.
Some forex traders follow their signal's suggestions exclusively, while others incorporate these recommendations into a more complex trading strategy. However you plan to use them, trading signals can provide valuable insight into trading opportunities, allowing you to make the most informed decision about your trade.