Opinion: Stop Following the Signal Seller! Love Gurus, Trading Gurus

Last updated on August 15, 2014

Binary Options That Suck Features: Why you Should Stop Following SSP’s

“I’ll take you to the candy shop / I’ll let you lick the lollipop.”

Does this lyrics sound familiar to you? My favorite radio station was playing “50 cent” while I was reading some comments on various forums discussing Forex and Binary Options gurus. I am sure you know all those EA, forex signals, binary options signals and Holy Grail sellers. We have “Love Guru” almost everywhere on this planet; do we need even a “Forex Guru”?

How Trading Signals could get you Broke

What most hit me was the huge number of traders looking for such “lollipops” to lick. Even though hundreds of them are complaining on different forums that these signals are not working, there are as many as “candy shops” open and every day new ones are opening their doors. How this things work? Well, you sign up for a free trial for a few days, in this time you receive some “signals” as buy that and sell the other one, make a few pips and then you get your temperature rising and suddenly say: “okay lets go to the next level”. The next level is when you pay for the signals or…for your failure. Isn’t this great? You even have to pay for it! Olivia – the “50 cent’s” partner for this song – was saying: “I’ll take you to the candy shop / I’ll have you spending all you got / keep going ‘till you hit the spot”. Damn she really hit the spot with those words. Only that – looking at the song’s tempt – you will not gonna get an orgasm but an empty trading account. If you ever asked yourself why these signals are not working, is simply because – as a trader comment on that topic – “no mentor, or course, or literature can give anyone the Holy Grail to the secrets of success in trading the markets. And mostly, no one sells the goose that lays golden eggs.” Try to think in this way: if the “seller” really owns the Holy Grail, what need has him to sell signals? He can make millions trading. Why the effort to build a website, to advertise it, to earn clients, to email/SMS them? I guess he does that for the same reason, as a pastry chef is not eating all the candies he prepares. Now the second question: why are you eating his “candies”? Your doctor never told you that the “lollipops” are unhealthy?

Bottom Line: Get out of this Candy Shop!

Abraham Lincoln once said: “You can fool all the people some of the time, and some of the people most of the time, but you cannot fool all the people all the time.” Let’s assume that all the “Forex gurus” are one single entity and all the traders are “the people”. Next time when someone invites you to pay for a signal, ask yourself why aren’t “all the people” paying for his signals.

About the Author – Meet Arenoosh

Excuse me! Can I have the attention of the class for one second :) ? Hi kids, my name is Arenoosh (actually it is a nickname) and I am trying to look at the Forex market from a different perspective – a funnier perspective. Before becoming a trader, I used to work for a bank in Eastern Europe but Lehman Brothers decided that is time to change the business and so I end up making market analysis for different Forex brokers and also becoming a trader myself. I am not all the time like this though and if you will ever visit my blog Forex Galaxy will also find good and useful analysis that could help you to spot good trade ideas (I hope). Visit Forex-Galaxy Blog.

posted in Binary Options Articles • 2 Comments

2 Responses to “Opinion: Stop Following the Signal Seller! Love Gurus, Trading Gurus”

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Jen
08/15/2014 16:06

Points taken wise man but it
Points taken wise man but it also has to be said that a good percentage of the population cant afford training to make them proficient to trade/ have tried on their own and not making it… Haven’t the tine to devote -working long hours to studying.. So turn to signal providers. I actually use one and you know what… Hes not going to make me a millionaire but he certainly is bringing me in so e extra income…so …a place for everything..and everything in its place… There is a place for signal providers for some.. You just need to look to find a good one.
Glen K
05/06/2014 12:40

The basis for signal services is
The basis for signal services is that most people don’t have the knowledge or time to the fancy technical analysis that SSP’s offer.
That said, my own experience in trying binary signal services has not been good. I have yet to find a signal service that has impressed me. In reviewing signals given, too many end up being just crapshoots – the charts show there isn’t a strong market direction, just trading in small movements. Hence too many trades are close to 50/50, even if you use the signal exactly as specified.
You’ll want to check charts before using signals- you might choose not to use some of them. You can weed out signals you doubt will come through.
Many investors think that binary options are like junk bonds, just a gamble – nobody can predict short-term trades well enough to make it profitable. I feel that way now, but have to trade, having money in a broker.