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Human based systems are subject to human error, and nearly every one of these systems across the board is terribly flawed and unreliable, due to the basis of the signals being technical indicators, or pairs combined scalping techniques. When conducting web searches for “forex signals”, most of what we found were not signals at all. We found live trading rooms, trade copiers, web pages and websites with large amounts of advertisements for brokers like click ads, banner ads, and pages with little or no content. Low value websites. A lot of the content on the forex signals providers websites was repetitive computer generated content, outdated facebook pages, “trade ideas”, forex robots advertisements like “set it and forget it”, etc. We did see one prominent top 5 broker with a paid signal service, this service gave alerts for price breakouts and advised selling a pair after it had risen and buying it after it went down on the small time frames, which is an irresponsible way to scalp. Taking signals from a broker would appear to be a conflict of interest as most of these signals encourage frequent trading. Trade signals for swing or position trading was nearly non existent. We can say the bar has been set really low for forex signals providers and you could argue that almost no real signal services even exist. The paid forex signals providers we found in the google searches ranges from $40 – $200 per month, some provide signals for as few as 3 pairs. None of these paid signal services provided enough information on their website to figure out how the signals were actually generated.
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