Does good traders buy signals? | Forex Factory

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Does good traders buy signals?

  • #1
  • First Post: Dec 1, 2005 10:38pm Dec 1, 2005 10:38pm
hi guys,

I'm sure traders find buying signals very tempting especially the research and time spent by the signal providers buy one the time to do other things.

But in terms of principle, do you think traders especially the good ones who's been around the market for more than several years making good profit should subscribe to it?
  • #2
  • Dec 1, 2005 11:53pm Dec 1, 2005 11:53pm
Quoting Blackship
hi guys,

I'm sure traders find buying signals very tempting especially the research and time spent by the signal providers buy one the time to do other things.

But in terms of principle, do you think traders especially the good ones who's been around the market for more than several years making good profit should subscribe to it?
yes, many times good traders will buy signals and use them to confirm or augment thier own trades. you will hear people say all the time that the only way to be successful is to come up with your own thing and dont depend on someone else. i always laugh because part of the road leading to your own success is dependent on learning. you can learn a lot by trading other peoples stuff. a successful trader is someone who consistently takes money out of the market. they get there by learning from others and then fine tuning to fit when and how they like to trade. take charles and the tunnel system, thats what i am talking about.
  • #3
  • Dec 2, 2005 12:10am Dec 2, 2005 12:10am
hi james16,

Thanks for the input, personally I think it does not matter as long as it can improve one's return.

Just that conventional thought may rendered one trader as run out of mill or weak in using subscribed signals.And trader who wanted to prevent loss of face value may not use paid signals even if the providers are of good standing.
  • #4
  • Dec 2, 2005 12:32am Dec 2, 2005 12:32am
Quoting Blackship
hi james16,

Thanks for the input, personally I think it does not matter as long as it can improve one's return.

Just that conventional thought may rendered one trader as run out of mill or weak in using subscribed signals.And trader who wanted to prevent loss of face value may not use paid signals even if the providers are of good standing.
Depends what your focus is on. If your focus in on making money and you find a good signal provider (very difficult to do) that provides the signals in a useable way and a style of trading that you are comfortable with, then there is no reason not to. I am currently evaluating a few different signal providers because I believe in diversification of strategies.

If you are focussed on you being the one who makes the money as opposed to having someone else make the money for you (a bit silly IMO) then you aren't going to want to use a signal service.

Simon
  • #5
  • Dec 2, 2005 12:42am Dec 2, 2005 12:42am
Quoting Blackship
hi james16,

Thanks for the input, personally I think it does not matter as long as it can improve one's return.

Just that conventional thought may rendered one trader as run out of mill or weak in using subscribed signals.And trader who wanted to prevent loss of face value may not use paid signals even if the providers are of good standing.
check out collective2.com, its a signal service universe.
  • #6
  • Dec 2, 2005 2:05am Dec 2, 2005 2:05am
hi guys,

Do you believe in backtesting systems?
  • #7
  • Last Post: Sep 21, 2014 2:51pm Sep 21, 2014 2:51pm
Quoting Blackship
hi guys, Do you believe in backtesting systems?
back testing doesnot work. you can backtest all you want but when you start using your system to do live trades going forward the system starts to fail.this is because the market conditions have changed.now you feel cheated you bought a system that doesnot work
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