First of all, I am writing this article because of 2 reasons:
1 - To inform people and make them avoid wasting their time on the search of Signal Providers. (you will understand after reading this article)
2 - To inform our subscribers of our Binary Options signals skype room. (The room now is an "Advice and Tips" room rather than a Signals room. Also you will understand why.)
Attention, this article is not about the signals itself, but about the fact (activity) of giving (providing) Binary Options or Forex signals.
In other words, it can be a very good signal provider (good and successful trader), but the signals only work for half of his/her audience or less.
Ok? You have to understand and make the difference. And below I am going to explain why this is happening.
Let's explain this with an example:
Jack is a successful trader, he decides to provide with binary or forex signals, directly or using any external website signal services platform.
Jack start to have lot of followers/subscribers to his signal service.
But despite the fact that he is really good as a trader, only half of his subscribers are happy, the other half are not.
Why? - Here is what is happening:
Only half or less of his subscribers are able to follow Jack's signals the whole day, every day, every week, every month, and those are the ones that are happy with his signals. All of those not able to follow Jack's signals the whole day, every day, every week and every month will never be happy because they are not getting the results expected.
You would say:"That should be ok if I only follow and apply half of his signals, if he is a successful trader, then I will succedd too just by getting half of his signals!"
Well, let me tell you, this affirmation is wrong, here is why:
Example: Jack, the good trader, he just made good profits this week as follows:
Monday, 20 total trades, 15 trades won, 5 trades lost (But you just got 10 total trades, 5 won, 5 lost)
Tuesday, 13 total trades, 9 won, 4 lost (But you just got 8 total trades, 4 won, 4 lost)
Wednesday, 7 total trades, 5 won, 2 lost (But you just got 3 trades, 1 won, 2 lost)
Thursday, 12 trades, 10 won, 2 lost (But you just got 5 trades, 5 won, 0 lost)
Friday, 4 trades, 3 won, 1 lost (But you just got 2 trades, 1 won, 1 lost)
So by the stats above, even if the signal provider has been successful, you as a follower/subscriber, you just went to negative balance because you were not be able to follow every single trade throughout the day(s), so your winning rate was not equal as the signal provider, resulting in negative balance.
This is the main reason signal providers keep open and close doors (providing signals).
Many of you already have that experience, following a signal provider but at the end it doesn't work.
A good signal provider (a good trader) will be beneficial for you only if you are able to follow and apply all of the signals he provides. If you are not able to do so, then the service will not work for you. It is simple and pure logic.
There are 3 options:
1- Learn to trade Forex/CFD, by learning Forex you will be ready to start trading on Binary Options.
2- Have a professional trader manage your account in your broker.
3- Invest in a Fund, backed with Forex/CFD and Binary Options in this case.
Options 2 and 3 are the easiest and/or reliable solutions and you will start making money earlier than learning to trade (option 1)
Note: Learning to trade means, become an experienced trader, build your own Trading Plan and Strategies.
I hope you enjoyed this article and now you have a better view about Binary Options and Forex signals and why most of the time, if not always, just don't work.
And just to finalize this article I say it again, this has nothing to do with the signal provider itself, but with the dedication and ability for you to follow the signals.