[Ricardo]

“Guaranteed profits”, little to no insight about how their “proven strategies” work. Charging high fees to take advantage of in experienced traders.

 

Don’t be fooled. Put in the hard work !yourself! to learn how the markets work.

Reply

Topic

[Christian Harris]

Trading signals aren’t inherently bad and often come from technical analysis, market data, or ‘expert’ opinions. The goal is to help you make smarter trading decisions.

However, the problem lies with a lot of signal providers (mainly forex) who make unrealistic promises.

They might guarantee huge profits or claim an unrealistically high success rate. These tactics are often used to lure unsuspecting traders into expensive subscriptions.

To protect yourself, always do your due diligence. Research the signal provider, verify their track record, and be wary of claims that seem too good to be true.

Reply

[Steve]

I concur 👍

Some signals blend genuine technical analysis and fundamental analysis to help inform your trading decisions.

But like most things in today’s world – a healthy dose of scepticism and research is needed to avoid the bad actors out there.

Reply

[Sal]

I assume the worst when it comes to trading signals, that way I’m not disappointed if they turn out to be legit.

For me the biggest thing to watch out for is high returns or proven strategies that are only demonstrated through paper traders or backtesting.

Reply

[Christian Harris]

You’re right, Sal.

I’d say the majority are junk/scams.

However, a few good ones try to help people understand trading better.

It’s crucial to be on high alert with the dodgy forex ones on Telegram and other social platforms.

Of course, results are not guaranteed, and you still need a solid grasp of risk management to protect your capital.

Stay vigilant, Sal. If it sounds too good to be true…

Reply

[Thando]

I’m both with you and against you on this one, Ricardo.

Those sketchy profiles on forums and social media flaunting “clients” who magically rake in 80%+ returns every week, and then ask you for a weekly or monthly subscription? Yeah, I’d treat those like COVID-19 back in 2020 – avoid.

On the other hand, signals from reputable companies like Autochartist, Trading Central and Signal Centre? I wouldn’t label them as scams outright. Sure, they might not make you money, but that’s a far cry from being outright fraudulent.

Reply

[Christian Harris]

A good point, Thando.

Some genuine signal providers simply provide consistently bad signals rather than intentionally trying to scam you with expensive subscriptions.

Interestingly, Autochartist, Trading Central and Signal Centre are all provided for ‘free’ by select brokers.

Reply

[DT38]

I don’t know about the signals from Autochartist, Trading Central and Signal Centre but a lot of the ones I’ve seen peddled online are worthless piles of s****

Reply

[Author]

Replies