Use A Forex Signal Provider Without Any Trading Experience?
Most Forex Signal Service state you can duplicate their trading results without any trading experience. This appears to be a fantastic solution for many people who don’t 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 provider without at least some trading experience?
The truth is, even though you are using trade signals found by other traders, you still need to act and think like a trader. As long as you continue placing the trades as instructed and use proper money management, you will gain the knowledge and experience necessary to create the trading habits of a pro trader.
The difficulty is, if you don’t already have experience as a trader, you probably will not stick with the Forex signal provider long enough to develop the proper mindset and reap the long term rewards. Unobtainable expectations and the wrong idea about what Forex trading can and cannot do will lead to premature abandonment of the service more often than not.
Becoming a long-term, successful trader is about coming to grips with loss. The only sure thing in Forex is you are going to place trades that lose. There will also be times when you lose many trades in a row. Some months will be great and everything will go your way and some months things will be a challenge. You can not count on always being profitable, and even one year can vary greatly from the next.
But loss is not really all that important, because you don’t need to win all the time to reach your Forex trading goals. You don’t even have to win every month to change your financial future for the better. Once you learn this, and can keep placing the trades with discipline and consistency, you can gain the experience necessary to be a successful trader.
The most important advice I can give is to make a long term trading plan and commit to the Forex signal provider for many months or years. 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 cannot seem to act like a pro trader then lower your risk by using smaller lot sizes, but do not quit. When you get used to trading the signals and have realistic expectations, you can increase your risk 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 Signal Service is only part of your future success. You still need to understand trading and develop the proper traders mindset if you want to see those profits over the long term.