Either way, this article talks about two important aspects of forex signal services that you need to know about, before subscribing to one, regardless of whether it is a free forex signal or a paid one.
Important Tip #1 - No scalping signals please!
Scalping typically involves the rapid entering and exiting of trades within a few short minutes. As such, it's wise to ignore any signal services that claim to be able to provide you with accurate entry and exit signals for scalping purposes.
This is because of the simple fact that by the time the user reads the email (or text) and enters into the trade, the small window of opportunity would already have been lost.
Although I generally don't advise traders to subscribe to any forex signal service at all, if you insist upon doing so, please stay away from scalping-related signals.
If you absolutely have to subscribe to a signal service, at least go for one with a longer time horizon, like intra-day signals, or intra-week signals.
Important Tip #2 - Never begin with a live account
If you've never signed up to a particular signal service before, don't start using it to trade your live account. It's good practice to always use a demo account first. That way, you can judge the dependability of the service without putting any of your money at risk.
A lot of free signal services are scams, and you wouldn't want to throw-away your hard-earned money based on the 'signals' supplied by an anonymous person over the internet.
Always try out your signal service with a demo account first.
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