I Tried Forex Signal Services For A Week
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- Опубликовано: 27 фев 2022
- I tried trading with signal services for a week. Enjoy le video - let me know if you've ever used signals and if you think they're a good or bad idea!
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I'm Hannah, from London UK and I started my trading journey back in January 2018 when I was in my second year of university. I started documenting for fun and to share true insights of someone learning to trade back in July 2018 - when this RUclips channel was created. From signals to hitting consistency and now trading a 6 figure funded account - I hope you find something valuable from my content :)
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Hope you enjoyed this weeks video 😊 Let me know if you have ever used signal services and what you think! 👀
Hope you all smash this week. And I’ll see you guys in the next one xx
I use tjfx signals and they are good. But the problem comes where they called for a buy but you see a sell then it ends up going your way but you end up losing.
@@prestonwalters1795 how can I get in touch with you from illinois
I use major profits signals through telegram. Best signals I've ever had
@@realjasonsaari is that the guy that trades nas 100?
Better trust our analyze or mentorship
As a trading experiment, it would have been more reliable of a test if instead of picking random lot sizes, to use 1-2% risk per trade. Because if the account is blown solely due to poor risk management thats on you, and is less of a test of the effectiveness of the signals.
For sure, that’s if those who go into signal services know what risk management even is tho (which was the point of the video) ☺️
0.5 to 1% per trade is the best
@@shajjack2373 ofcourse there is no fixed rule for the lot size. There is a fixed rule for risk per trade. Usualy measured in percentage.
yeah bro you're right .also she should have used the Risk Reward Ratio properly..even the signal win rate is low as 30% in 10 trades you're still in profit
@@shajjack2373 I mean, you are not wrong...but I have a 100% win rate. It's not really a win rate though because it's based on straight up just statistical analysis and mathematics. You don't lose unless you want to lose. I'd show you proof but comment keeps getting removed when i try to put the link up, oh well.
About Lot size, most people are way way over positioned. People are betting thousands per trade with only a couple thousand in their accounts. You can't survive market movements, therefor you put tight stop losses which most of the time gets triggered and on average, traders lose money by death of a thousand cuts. Even the rare winners they get, are usually losers because traders want to "win big" but the trade goes against them before being able to take their ideal profit that makes up for those small losses. Proper lot size for the majority of normal traders is the absolute minimum size you can put in.
It's amazing to see your Journey. You came so far from 2018 to 2022 and love to see you continue to grow in future. ❤️❤️
You should do a follow up vid of this week with a signal group vs a week doing your own trading and show the results of relying on a service versus doing your own analysis and risk management.
glad you are popping up again on my feeds...love the vids!!!
I’ve been in this industry for 3 years and just now figuring out how to close partials on the mobile app 😭 thank you for the little nuggets Hannah, it’s very much appreciated seriously. 💪🏽
Hahaha tbh I only learnt about taking partials when I started learning institutional trading :P
@@HANNAHFOREX Don’t think we didn’t notice you driving manual either 🔥 Embarrassing us automatic drivers like that jeez lmaooo
Looool 😉
I thought everyone knew this from the start lol
I also just knew about partial closing🤧🤧
Thank you so much of making this video 😭❤
Some signal services might be good, but I think it's always better to remember that for you to be an independent trader, you gotta know how to and why you enter any position in the market.
Absolutely! It’s like when you have a mentor who gives their forecasts of the weekly markets, but you have to understand the how and the why. And implement your own skill and analysis. But unfortunately there’s a loot of people just blindly following signals without even know what lot sizes to use, independent analysis, or even basic risk management 🙈
I appreciate these videos. Teaching me quite a lot keep them coming
Nice content 👍
Thanks for teaching me how to close partial of the trade, you are awesome 👌👏😀😎
Again Dosis of Hannah safe my day, I definitely need to learn closing partials better than going out zero. However you looking very happy 😃
Great experiment Hannah. Keep up the good work!
I am a beginner trader thanks for the educational on how to close partial I never knew something like that was possible
awesome tips and wonderful channel, subbed !
Thank you for your honest video and your trading experiment.
I think it could have performed better with consistent risk management of 1-2% instead of using random lot size. I actually found some signal provider to be quite decent if you apply good risk and trade management (when to set BE, trail stop etc). I'm using signal service to help me scan for more trade opportunity which I then double check on the chart before placing a trade. If I think the trade too risky, I will skip the signal or just use 0.25% to 0.5% risk. Though, I agree that it's better to learn how to trade instead of relying 100% on signal services.
do you have good signal sevice?
Link?
@@sylvanuskofi1952 i have
@@fadilaaulia8bit send please
Just found your channel. Loved this video
Hello Hannah,
what app do u use for trade?
nice content btw, keep up with it
Thank you for sharing. I have the same experience as you by following signals and they suck!
Thank you so much 🙏🙏🙏 for teaching me on how to change lots size
I started trading with signals and it took me longer to unlearn and relearn the most important elements of trading like trading with no emotion and using proper risk management.
Great video thanks for sharing.
Really dope video 🔥
thanks for the closing partial thing
Hi hannah
Loving your videos
Great content
Please continue the beginners educational series with your friend ❤️🙏
Thanks Jassim! And yess, I’m working on it :)
Nice video :) by the way which UK broker do you recommend? for this video you are using ICMarkets is this a good broker to go for? thank you
Thank you for posting this video....
I’ve been trading three years this year and just now learned how to close partials. I always thought you had to take larger lots in multiple trades at the same time and close one and let the other run. Sheesh. Thank you.
you can do that too
@@biasa4830 yeah but it messes with your risk percentage.
Honestly the best youtube channel I've seen forex wise... I am very enthusiatic about starting in forex and what I like of this channel is that you straight up let people know this isnt a joke or a magic formula for getting rich quick... Lots of hard work and dedication... Honestly inspiring
Good luck. It will take you time but you will get there
True Hannah. Loving the quote at the end of this video. I'd rather learn and trade than following signals blindly. 🙌🏼
Great video, I'd suggest that you take the same risk for each trade based on the pip value for each pair and take all the trade signal, that'd give a true win rate.🙌🏽
Music
P
Lucky us to have you !✌👍
Great video 👏
Thanks for the video. I think of learning how to be an independent trader too. But its not easy to find correct mentorship.
totally need a part 2
Will definitely have to do a part 2! Showing all the things I would have done and what I know now kinda thing ;)
deffo needed!!!
1:19 😂 😂 that was really wholesome interaction
Some of them are pretty good, but the problem is that you never know which setup they are using. So position sizing, SL trailing and early exits just does not work. When you have your own strategy you get all this info instantly.
Really love the video.
I got a idea, follow same signals group but do opposite (if buy signal then sell and sl is the tp)
Hi Hannah, How do I get my candles also highlighted where Order Blocks lies like yours.
Other way to tell people to veer away from signals 😆 nice vid as always, Hannah!
Yep yep! Thanks gal ❤️
Loved this one because i stopped it an year back when I realised same. U hav to get in just when they post & they use 1min timeframe + if you are 3 minutes late you will end up red. Tested on metatrader4 but when u trade on your using your past back testing experience it give u blue & trust me I still haven't entered with real money wth mt4 because of my timezone the way trend change & it updates + m not yet confident with strategy & I m practicing scalping. Any comments frm u will be highly appreciated 🙂
What is the app called where you see the loss and profit?
Some signal services do work, buy I would have gone with a demo account to test then out. Nice video 👏
Thank you ma'am.
Where would it be good to get the mentorship you guys talk? I am not uk based so probably would need to be online...
Im watching this nervous as hell i had to be like okay this is her testing the waters lol I love what you do.
El lote a trabajar es dependiendo de tu capital no puedes seleccionar lotaje muy alto solo por qué si , la señales funcionan siempre y cuando tengas control de tu riesgo
I think when you get into any signal services, you dont necessarily hop in to trade at the time you received the signal. Sometimes gotta let the hours pass or even day before making those trades. Just for my experiences hopping on the signals.
Brilliant video, lots learned from it. Love the black teddy jacket. Wheres it from if you dont mind me asking???
Thanksss! It was from H&M haha
I agree, you can't rely on signals but their are some good trading signal providers out there for example, forex precision, it's a app in the app store and the accuracy is really good. I'm not much of a signal user but I really like that app. 8/10
Hi! I started using forex precision since a couple of weeks and it seems fine, but i have a question for you: how do you set SL and TP? you use their tips? thanks!
@@sbruggiu yeah they give you the SL & TP but I use my own strategy to figure out a TP &SL
@@iwest12345 yes, me too, i just needed another confirm 😁 thank you again
You awesome guider :) I also gona buying subscription for signal but - No more. Belive in your self , work on your own strategy . Copy trade is bad habit
Love you Hannah
There are some pretty good signal groups out there.
I can see your point into building bad habits - if you can manage your risk, and your position as it enters drawdown, or profits - signals can be efficient; if you don't do it full time ;)
I don’t doubt that, I just personally do not think it’s sustainable for the long run. 😇 But again, there’s still a majority of people following signals blindly without knowing what risk management even is or why they enter trades 😅
@@HANNAHFOREX Yeah, that's distructive.
Any names for a good provider plz
Wow you are so good
One of the 🐐 in the forex game 👍🏾
To be honest the thing about signal service is that they are NOT for new traders.. and because of that they won't tell you what lot size to use because if your risking based on percentage of your Balance they can't tell everyone what lot size to use, you have to make those calculation yourself.. signals are only to give you a starting point as to when to enter the market. In order for signal services to work risk management has to be applied.. the signal service provider should make it clear at what type of trades they are providing(swing or intraday) but I think this video shows most new persons experience with signal services. New persons will see 4 loses in a row and think the service is bad which isn't the case. Which Hanna kind of explained in the end. Signal services are not for new traders. Love the video tho.
Well depends Im using a signal for a while and its really good
@hannahforex why don’t you do another video with a fixed lot size and a fixed SL and TP so we get to know how that plays out.
loved this video.....
it helps that in signal groups, instead of entry where they say, just entry at least 10 - 15 pips from their entry point XD
Great video and I think it's accurate for what Hannah was going for. Of course she could've used the same lot size to see if the signals provided by the specific group were profitable for that week, but the majority of people who use signals don't use proper risk management anyway. Also, like she noted, signals tend to lead to bad habits. There's a reason profitable traders don't need them.
❤️💯
The one we use works great for us. The bottom line is there are good, and bad signal services, just like in any business. We looked at a few, and decided on one that is currently working well. You for sure have to do some level of due diligence.
hey Smith i hope you well, can you kindly mention the one that works for you so i can also try it out...
Can you tell us your signals provider I’m actually looking for a reliable one …. Thank you 🙏
Awesome video
Signals can be good if you are choosing specific traders and are able to do so with accurate history files to make sense of the traders chosen, and, making sure that you don't have any missed trades or ones that don't even close at the same time, and don't touch arbitrage styles unless you are paying for the fastest possible real time access.
You mentioned "following other traders".
That's not a signal service, that's what you call copy trading, or social trading like
eToro
@@ryanheinig7975 etoro isn't what I would suggest, based on how it's ran and designed. But yes essentially it has a history of each trader.
Canada delisted etoro from its approval during a year I tried it, I basically broke even due to various system anomalies a year into it.
This is also a concern for following more than only a single trader, and that does not mean that they can't be in a common-law relationship or are married single traders.
Yeah, I’d say that’s different to the point I was trying to share in the video :) What you’re saying sounds like when I got my first proper mentor and I would actually put in the work to learn from their weekly forecasts and trade recaps etc. But this video was for those who blindly follow signals as an easy way into the Forex market - unfortunately the majority of Forex newcomers 😅🙈
you should pick a signal with proper report and good performance (which there isnt much) , and no they wont give you any lot size signal cuz everyone has different balance.
Loved your video Anna .But could you make a video guide for beginners in Forex without using signals
I can relate, my accounts have been wipeout bec. of signal services.
Thanks
Was this with Forex Trading Spot by any chance?
I think signal services can't be all bad. I never used one and probably never will. But I don't see why getting a second opinion from a hopefully decent trader is a bad thing unless you follow them without question. I guess the problem is mainly that you never know how good the trader that provides the signals truly is unless they have an audited track record.
What app does she use to trade?
a nice lesson and kinda fun to see it too. love the video and kinda wann ahave a coffee after seeing u drink 😂😂
Haha what’s your go-to coffee order? 👀
@@HANNAHFOREX i would like to have a caramel latte . But other than that also ok tho 😁😁
Niceee! I’m an oat milk flat white kinda girl ☺️😂😂
@@HANNAHFOREX that normal tho. kinda understand everyone have they fav. Anyway what next video you gonna do? im having fun watching your video as a same trader. its kinda a lesson for me to learn. 😁😁😁
Yes, unfortunately, your experience mirrors mine - found that their signals produced an entry that was passed about 15 minutes earlier and they weren't talking about taking the entry on the retest either.... Absolute rubbish - and they get away with it. Luckily it didn't cost me anything other than incredulity how some people take others for a ride.... Better to try watching birds in the sky: will they fly to the left (then buy) or to the right (then sell)!! lol
Thanks for warning everyone and take care.
Yeppp such a common thing! And it’s a shame many many people fall for it. All we can really do is educate and share what’s we’ve gone through so people can learn from our mistakes 😊😊
What’s the app r u using ?
I was kinda shocked when i see you using signals,but hey i realized it was all about Fun🤣,by the way how is it going on your Trading jaurney?
Totally love this video 😂😂😂😂
Hahah thanks Emmanuel 💜
Been watching a lot of your videos as I'm currrently on my forex journey! I saw you in one of your older vids that you add a dotted line for restrictive news events on the chart based on the ftmo account restrictions so its clear when its happening. How do you add that alert based on time? cant seem to find how to anywhere
Need a part 2 of you trading that account on your own❤
👀 👀
the signal service isn’t telling you what lot size to use because their subscribers have all different account sizes
Anyway, what broker app you use???😂😂 I'm using Octafx & MT4😂😂 kinda different from GB/England
7:32 I actually took a short exactly at that time and made a 3R lol
Interesting video, definitely better to learn to trade than take signals however I think trading signals for some takes out the emotion which a lot of people struggle with. Also your BF mentioned how he was mentored, how do you find a mentor when you know nobody in this space?
We joined the same community back in 2018. What I found was helpful and so important was how successful were the students - doesn’t matter if the mentors are all this and that. But can they teach their students to also get better and grow. That’s how i judged if a mentor or community was good, I look at their student success stories :)
@@HANNAHFOREX I understand, I must be doing something right as I have not blown an account after a year but I keep flip flopping between being in profit and having losses which is a little frustrating. I know trading takes a while to get consistent and I won’t stop learning as I enjoy doing the analysis but think I need a mentor to bounce ideas off.
Whats the name of this signal provider
God damn I have to admit I used them before (twice or even thrice) AND an automated Forex trading service LMAO
And the overall lesson was, these services are just a clear sign of you shirking away the responsibility of managing your own funds, and the moment you actually do not take accountability of your own actions, it’s not sustainable in the long term at all.
Btw, I can’t comment on your IG but damn, your posts have been motivating af. Keep it up!
Hi 😊HANNAH ,How did you find the balance between school 🏫 and forex trading?
They were not bad or bad as I thought. They even send the analysis of the trade. At the end of the day you need to have at least a clue of what is going on. Good video Hannah
Hey how long have you been trading?
Hello dear mentor ! Nice to see a awareness video, I totally agree what your boyfriend said, less educated short term gain people go for it not to get hardcore lessons from seasoned mentors for long term. You are taking too long time to teach us LOL....... can not wait much please......continue your mentorship coaching with the style you are following with you housemate.
So cute ☺️ but the signals are fluctuating best to stick with the stocks and currency.
Sometimes I use signals if I don't have ample time to do charting but I don't blindly trade the given signals Instead I review those recommended pairs if it's in my trading criteria. If not, I just scrap it.
That's good
That’s good tho! I would say majority of people still unfortunately go into signals services blind without even know what risk management is :(
I am forex trader i never take trading signal advice from others because its not only about prices are going up or down your risk to reward are must be calculated and always see chart on big time frame
I had learned from trusted traders I follow not to use signal services.
The real skill to be successful in trading, is learning the skills yourself, checking market conditions on daily bases, technical analysis, have a trading strategy that works for you, and ALWAYS use proper risk management.
Some signal services are from other traders that are not good at trading themselves, but having a signal service helps them make a quick buck, passing the risk of losing trades on you, while you being conned, and they raking in the money.
Absolutely 💯 risk management is so soooo key!
nice one
You will make those 7 pounds back with RUclips Ad Revenue lol this video gave me a throwback to those first Hannah Forex videos back in the days hahaha
Oh boyyyy them first year Hannahforex videos 😂😂😂 We all start somewhere lmaoo
Can you please make a video about risk management
Yess
Good content
no risk managment????
I used a signal service provider for the first time, and to my horror he blew his account. I did not follow his signals, because I wanted to observe how he was progressing before I commit.
Thanks Hannah. Yes 🤣🤣🤣 I have ever used signals.
You’ve never used signals? Hahaha that’s good to hear 😅😂
Iteresting stuff, is good to show what will happen follwing signal,thank god I never used theme,i always been in demo,just about to open a real account,I know you can' t give advise but I would like to ask you with what broker I could start with a small account,if you can recommend!!!
thanks Hannah and really good video!!!!
The broker I use is IC Markets :)
@@HANNAHFOREX Thanks