Why do many traders earn with trading signals and you do not?

If you are somehow connected with trading, then you have directly or indirectly come across trading signal services.

There are a lot of providers of trading signals in the network, from successful traders to large financial companies with their own developers.

And no matter what signal providers promise us and no matter how accurate they are, why do many traders, especially beginners, lose capital?

In my opinion, for the most part, this is not so much a claim towards signalo providers, but rather to the users themselves. Do novice traders often try to figure out how this or that signal works and how to use it, bypassing various advertising tricks? It is much easier to trust the signal than to take full responsibility for yourself.

So, my dear traders, I declare to you that all the risks of capital loss are your responsibility and most signal providers openly declare this.

As long as you blindly trust Buy or Sell signals, your trades are doomed. Only a comprehensive approach to analyzing the market situation and your own trading strategy, tested and verified, will help you become successful.

And no, this article is not about the fact that signals cannot be used, this article is about how to choose and use signals correctly.

Trading signals are a useful tool for both beginners and experienced traders. With their help, market participants with any Forex trading experience can significantly expand their trading opportunities and save time on conducting an independent market analysis.

When choosing signals, do not contact providers who impose cooperation with a particular broker. Often, these providers turn out to be scammers offering deliberately false information to drain your deposit. 

Before choosing a signal provider, understand how the signals are generated and whether they are suitable for working in a particular market.

It is also important to understand that a large amount of information creates information noise and can be distracting and error prone. When choosing a signals provider, it is important that all tools are as accessible, easy to read and understand as possible. 

Give preference to providers that offer comprehensive services such as xSignals.

xSignals is a forex and crypto trading software that provides a variety of technical analysis tools, including unlimited forex and crypto signals.

This software is compatible with any broker's platform and is absolutely legal in any country.

The main feature of this application is that it does not limit the user in signals. Unlimited crypto and forex signals are provided around the clock, you can use them whenever and wherever you want, rather than waiting for a signal to appear. Algorithms for generating signals, their structure is described in detail and accessible on the developer's website.

So, how to use signals.

If you focus on only signals, then your trade is probably doomed, because you need to take into account various market indicators for a successful forecast.  

For a successful forecast, you need other market indicators to confirm the signal forecast. An excellent use case for signals is covered by the xSignals provider on their blog in the article "How to use xSignals signals"

Before opening a new position, determine the current market trend - for this, use the Power.

Whether the current price is suitable for opening a trade or you need to wait for better conditions, use online-charts and data from technical indicators.

Use heatmaps to validate your strategy. Heatmap shows the result of the "power + indicators" combination on historical data. The more deals are closed with a profit, the greener the marker. 

Use the Profit Factor to determine the overall profitability of the strategy by the number of profitable and unprofitable points of closed trades. 

Thus, signal reliability can be determined using three tools:

Power (trend phase) + Heatmaps (how indicators work) + Profit Factor (strategy profitability)

And for a successful prediction, the data of these indicators must converge.