Can you picture yourself sitting in front of the PC screen with a glass of whine making thousands with two mouse clicks? And what about doing this just a couple of hours daily?
Unfortunately to achieve this you must first read big fat books on trading, technical and fundamental analysis and strategies. In addition you have to follow the news every day so you can take appropriate actions.
In the beginning most self traders stay on the PC all the day with red eyes and lose money with each mouse click.
What Are Trading Signals?
There are people who have already been there years ago. They have read the books, spent the hours learning, experienced trials and errors. They are now expert traders who regularly win more than they lose. They are professional traders.
Such people want to use their knowledge and earn more right now. They can make living by trading their own money, but why stop there? Would you refuse some extra income especially if you don’t need to lift a finger for that?
Those traders can take other people’s money to trade and get part of the profits. This is called managed account trading and there are many who do it.
Another option for them to make extra income is to offer stock, forex or options trading signals. The signals are being sent automatically when they perform a buy or sell trade on their own accounts. So they don’t need to do anything more except to set up the software and charge their clients.
What Can The Signals Do For You?
Obviously, they can save you time for education and following the news. You can just follow the trades that the expert makes and have the same profits (or losses).
Trading by signals requires only basic education how to work with the trading platform you have selected.
The trading signals allow you to trade like the professionals without having to go thru the “red eyes” stage. Now you can even drink your wine while trading.
The performance of the different traders and trading types vary. I have seen forex signals which can help you make more than 100% pure proift per year.
Depending on your leverage and margin, you can make or lose much more than the expert trader does.
How Much Do The Signals Cost?
Usually the prices are between $50 and $300 monthly, but I have seen traders asking for $1,000 per month. It’s wrong to assume that more expensive signals are better, but often it is true. Most signal services offer significant discounts if you subscribe for 3 or 6 months or a full year.
One important thing to consider when subscribing for a trading signal service is that your equity must be high enough to justify the costs. For example if you you pay $100 monthly for signals which averagely achieve 5% profit per month, you need to invest $2,000 in your trading account just to break even. Still this is much lower than the $25,000 or more minimum most managed account services require.
How To Find Good Trading Signals?
The business of making money and investing has always been full of dishonest people and companies. Unfortunately the trading signals are not an exception. Many companies report fake performance results just to get some subscribers.
One good place to check for proven services is our reviews page. I won’t list any service which is not confirmed by at least two independent sourses. In most cases I’ll have my own experience with the services as well.
If you decide to find signal services thru the search engines, make sure to do some basic due diligence. Type “service name” + review and “service name” + scam and see if there are complains posted on forums and other review sites.