Preschool>= Lesson Status ?
Kindergarten>= Lesson Status ?
Elementary>= Lesson Status ?
Grade 1 Support and Resistance Levels
Grade 2 Japanese Candlesticks
Grade 3 Fibonacci
Grade 4 Moving Averages
Grade 5 Common Chart Indicators
Middle School>= Lesson Status ?
Grade 7 Important Chart Patterns
Grade 8 Pivot Points
Summer School>= Lesson Status ?
High School>= Lesson Status ?
Grade 9 Trading Divergences
Grade 10 Market Environment
Grade 11 Trading Breakouts and Fakeouts
Grade 12 Fundamental Analysis
Grade 13 Currency Crosses
- What is a Currency Cross Pair?
- Crosses Present More Trading Opportunities
- Cleaner Trends and Ranges
- Taking Advantage of Interest Rate Differential
- Obscure Crosses
- Planning Around News and Fundamentals
- Creating Synthetic Pairs
- Euro and Yen Crosses
- How to Use Crosses to Trade the Majors
- How Cross Currency Pairs Affect Dollar Pairs
- Summary: Currency Crosses
Grade 14 Multiple Time Frame Analysis
Undergraduate>= Lesson Status ?
- Why Keep a Trade Journal?
- Benefits of Keeping a Journal
- What Should You Record in Your Journal?
- Potential Trading Area
- Entry Trigger
- Position Sizing
- Trade Management Rules
- Trade Retrospective
- Trading Journal Statistics
- Reviewing Your Trading Journal
- Difficulties of Keeping a Trade Journal
- Summary: Keeping a Trade Journal
Graduation>= Lesson Status ?
- Which Trading Style is Best for You?
- Which Currencies Should You Trade?
- What is Your Level of Trading Experience?
- Should You Be a Discretionary, Mechanical, or Hybrid Trader?
- What Kind of Mechanical System Suits Your Personality?
- What is Your Attitude Towards Risk?
- What Kind of Stop Suits Your Trading Style?
Signal services do everything a robot does except the actual execution of trade entries. Besides possibly using an automated program, a "professional" trader may generate trading signals (for a fee, of course) for clients to act upon.
However, you may be paying for a signal in which you do not know the causes for and how the "professional" came up with it.
You have no idea what the basis for the trade is, just that the "professional" is telling you that it's a good time to buy or sell.
In the end, you are relying on the analysis of a third-party sources that is not your own.
In a typical signal service, the programmer creates a set of technical indicators and rules and the program runs to those specifications.
If price action satisfies the conditions of the signal service, then an alert or pop-up will show up for the user to react.
It is ultimately up to the user to decide whether or not to take the signal and trade it.
While this may sound more beneficial as you have a choice on whether or not to take a trade, the signal service is still programmed to a constant set of rules.
Like we mentioned earlier, the forex market is in a constant state of change. While the signal service might have been profitable in the past, there is no guarantee that it will be profitable in the future.
One other thing to think about is if the signal service is so profitable, why would the creator want to share the profit?
Like robots, the scam isn't the service itself, but the way it's marketed.
You may see ads from scammers that promise you'll make a bajillion dollars with their signals.
Many traders will look at the a and think, "A bajillion dollars!? I could do anything I want with a bajillion dollar!"
Now stop. Think about it.
If that were true, they most likely wouldn't be running a signals business. Instead, they would focus on trading and make a bajilion dollars for themselves.
If you are interested in finding a signal service, check out ReviewPips.com's forex signal reviews to hear from past users of signal services that you're curious about.
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- Forex Account Managers
- Don't Be a Sucker!
- Automated Robots and Systems
- Signal Services
- Some Brokers are Scammers Too!
- Regulatory Agencies
- Foreign Regulatory Agencies
- Scam FAQ