Trader needs to check following vital factors
before subscribing a signals service:
- Good
Structure: Signal must be well structural format well structural
signals must have well defined entry price, stop loss and take profit
price that is helpful in terms of money management and to growth account
inchmeal.
- Details On
Performance: Performance of all signals should be neat and
clean that state in performance page every factors such as Entry point,
Stop loss and Take profit so that before subscribing trader can look all
factor to decide whether it is profitable and suitable for his or not.
Performance should be updated timely scheme.
- Unrealistic Profit: Avoid
signal from that provider who show +5 pips, +7 pips profit from a trade.
Such kinds of profit are unrealistic and can’t be countable because of
broker spread and slippage. Such type of signal can be Robot/EA generated
and can’t be reliable.
- Random
Signal: Many signal providers send signal randomly,
indiscriminately, and without any clear methodology. This type of signal
may be by EA/Robot generated or not well analyzed. This quality of signal
only for the shake of providing signal not for clients benefit.
- Signal
Timing: All of us have our personal life. We can’t give whole
time in front of Computer and looking for signal from his provider. Signal
sending period should be defined. So that trader can be prepared at that
time to enter a trade.
- Trade Monitoring: At
the time of trade running signals provider should update trade status and
concern about market situation since Forex market moves on news and
fundamental issues. Depending on condition we should manage the running
trades accordingly.
- Monthly Target
fulfillment: Signal provider should have a monthly
promise that they should fulfill the target accordingly.
