Are there any decent forex signal providers out there?
This is a question asked by every retail trader. At some point during their forex trading career, they looked into forex signal providers. I’ve done it myself many times. Allow me to reveal here what I’ve discovered.
I’ve joined several signal providers–both forex spot and binary options–over the years and they were at best mediocre. There were some that stood out, and had consistent returns, but the amount they were asking for was not worth staying with them.
With some, it was difficult to replicate the returns they were making, always exiting too late and entering too late. Sure there are trade copier services out there also, but that is beyond the scope of this post. I wanted to see the signal first–do my own analysis–before jumping on it.
I found one recently that I keep going back to. It is a little different since they don’t actually provide signals, but instead provide the charts and indicators in a live streaming video format. It is up to the individual trader to analyze the information and take trades or not. There are many in this room and they’ve been in it for years. The best part is that some of theses traders are making a killing in the forex market. I’m talking well in excess of $100,000 daily. Yes, daily!
It does have a steep learning curve–about a month or two–before a newbie understands it and is consistently making a profit every day. It also has a high entry fee–about $100 every two weeks. But considering the potential, that amount is negligible.
Ok, enough hyping. Now for the reveal.
It is called Binary Options Trading Signals, or BOTS for short. You can trade binary options or spot forex with it, making the name a little misleading, especially since they don’t actually provide signals.
Here’s the link: Binary Options Trading Signals
Before you say SCAM, know that very few of the traders in the room trade binary options in it. They trade mostly spot forex using the rooms charts.
They also give free access to the room on Mondays if you want to check it out first. Just follow that link above. (sometimes trial days are suspended due to heavy demand)
Trust me, it’s legit.
One other thing you should know about the room is that it is only open for two and a half hours Mondays through Fridays. The times are 9am to 11:30am New York time.
Anyway, there you have it. Yes there are good forex signal providers out there, but this one in particular doesn’t actually provide signals.
Good luck in your trading and see you at the yacht party in Monaco.
UPDATE: This trading room no longer does free Mondays due to high demand. They now do a free day once a month. You would have to sign up to be notified, usually the notification comes a day in advance.