The question I’m answering today is can you get rich from trading Forex signals? Can you buy yourself a mansion? Can you put yourself in a luxury car, just from the profits of Forex trading signals?
I will answer that question for you today. I will show you real live trading results, real trading signals and show you how you can use those trading signals. I’ll give you real honest advice that you’re not going to find anywhere else. All I want from you in return is for you to smash the like button, subscribe to the channel. Let’s start the video.
What is a Forex Signal?
A Forex signal is a very basic way of growing a trading account. All you do is join a service somewhere around $40 to $50 a month. And then a trader or trading group will provide you with trade opportunities. Every single opportunity or signal provides you with the entry price, whether you should buy or sell, and then give you the take profit and stop loss so that you can place the trade in your platform exactly as shown. Let me show you an example from my VIP group.
So for this example, let’s say that you’re in my Forex VIP group. This means that I’m doing the analysis and I’m providing with a Forex signal. You would get the signal in telegram, which works on your PC and your phone. So it pops up. It sends you multiple links. I give you updates about the positions, whether they are still open, whether you should close them, whether we’ve won them or whether we’ve lost them.
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How to Use Forex Signals to get Rich
So let’s take a look at a trading signal I sent right here. You just get a link. You click on the link, it pops up the trading signal. Now I give you my full analysis. I give you the reason why I’m giving you the trade idea. First, I look at the long term trend. I’m looking at the higher timeframe. After that, I’m looking for confluence on the lower timeframe. Once I have that information, I look at it and then I provide you with the signal idea. The signal idea is right down here, you could tell this is a sell limit order. I give you the take profit one. I give you the stop loss. All signal providers are very similar when it comes to this.
Then what you want to do with the signal is just open your trading platform. You could do this on your phone. You could do it on your computer, whatever you want. I’m on my computer right now. You can see I am in a live account. This is one of my live trading accounts, where I use my trading signals and where I test other strategies. You can see at the bottom right, I’m currently kicking ass with a new scalping strategy that I will be showing you in a video next week. So make sure that you tune in for that.
Now, if we want to use the signal I just sent you, right here at the top you just want to go to new order. At new order, you will always select pending order. I only give you pending orders, and then you can go back to the signal page. This is simple, and you can see, all right, this is a sell limit order. So let me just keep that open over here. And then I can copy and paste the cell limit order like this. And then I can plug in the take profit as well like this. And I could do the same thing with the stop loss. Then all I have to do is select the right symbol, select the lot size that I want to trade and then click place. This will place the trade, and then you can go and see the trading result.
Forex Signal Example
This is the exact trade that I’m showing you right now. This was a Euro/New Zealand dollar sell trade. I said that the market was going to go down. And this is what happened with that trade. You can see here, the trade first ticked this line right here. See, I provide trades they’re pending orders. So you see, I provide a trading signal right here, and that trading signal has to retrace to this line. If it doesn’t, the trade doesn’t happen. But what this does is give you three, four, sometimes five hours to place the trade. So everyone in the signal group gets in on it. Once it takes this line, it starts the trade. Then you can see here, the trade immediately goes in our direction. This is a quick win. You actually get the win right here. It continues in this direction. Not that it matters and continues to be a winning trade based on solid analysis. That doesn’t mean that every trade is going to win, but it does mean if the analysis is good. If you like the analysis, you should place the trade.
Now let me get into the different rules and fundamental things you should look for when you’re signing up with the Forex signal service, whether you’re going to go with my VIP group or with someone else.
5 Rules for Good Forex Signal Providers
These are five things you have to follow when looking for a Forex signal service provider, or you’re going to end up in a bad situation. One, you have to make sure the risk reward ratio is good. Get with a signal provider that risks 1% to win 2%, 3%, 4%, 5% do not get with a signal provider that’s risking 5% to win 1%. They’re going to show you that they’re racking up so many wins, but in the end, your count is actually going down. Make sure the risk reward ratio, the money management is good.
Two, make sure you know who’s actually providing you with the signal. Here at Forex Robot nation you know, it’s me, It’s Joe, you can look at my videos. You can watch Joe’s webinar every single week to see what we’re thinking about the markets that week. So you know exactly who we are.
Three, make sure there is actual analysis being done. Don’t get with a signal provider that’s just going to give you a buy or a sell, a take profit, and a stop loss, get actual real price action and technical analysis. You want to see the chart, you want to see what’s happening. That way you can learn from the analysis. You can decide if the analysis is good. And in some cases you can even say, Hey, maybe I’ll pass on that trade because I don’t agree on the analysis. If there is no analysis, who knows who’s giving you the signal or why they’re giving you the signal, for all you know, it’s like three indicators crossing and that’s the signal, which is not what you want. You want real people giving you these signals.
Four look for modest returns. Don’t join the signal service that’s promising 200%, 300% gains. You’re not going to win with them. They’re just total scam artists. A good signal service is going to be able to give you 4% or 5%, 6% percent in a month, maybe 10% in a really good month. Now, if you’re risking 4% or 5% per trade in a month where you get 4% or 5%, that’s a profit of 16% to 20% on your trading account, which is actually insane and really, really good. So it all depends on your money management and risk reward ratio.
And lastly, number five, make sure you’re getting pending orders, not market execution. Market execution, you have to place the trade right away. And so if the vendor is five pips in profit, when you enter the trade, you are already at a disadvantage. And that’s one other thing I should mention. There are unscrupulous vendors that will pretend or give you the signal a little late. So they’ll actually be five, six pips in profit and give you a price that’s already in profit and that’s not helping anyone. So watch out for that too.
Now, before I take off and start counting my money, I told you, I’d tell you, can you get rich from Forex signals? And this is the answer. If you’ve got a hundred thousand dollars account, you’re making $15,000 a month, you’re compounding that you can definitely get rich. If you got a thousand dollars account, you’re making $150 month in good scenarios. You’re probably not going to get rich from that. You can compound that. You can take your time, but the amount of money you have is really important. It’s also important to recognize how signal services and trading analysis works. You are never going to go up in just one direction. You are going to go like this. You’re going to go like this. And then you’re eventually going to get where you want to go up here.
The problem is a lot of people join a signal service. They join it when it’s in the little dip right here, and then guess what? They take off. They give up on the analysis, they take their losses, they tail between their legs and leave. If you’re joining a signal service, you have to wait. You have to put the time in. You have to trust the analysis so that you end up, up here and not losing right here on a little dip, giving a one star review, and quitting.
Now, if you like this video, please comment below. Leave me a like, subscribe to the channel. If you’re interested in my signals, I give one free signal every single day in my free signal telegram group, you can join that. You can do whatever you want guys. Just thanks for watching. Love you. Peace.