November 1, 2015 at 3:10 pm
Signal services and autotraders are great, IF you find the right one. This is normally a difficult task for most traders. You have to go through a lot of poor services or scams to finally find one that is worth it… at least that is what I found.
I have only used a signal service in the past, but I must say that autotraders seem to be much better. The problem with signal services is that they have first have to send you the signal and by that time it might be too late for you to get in on the price that they said you must enter. Sometimes they will give you a signal well in advance and then you have to be at the computer the whole time until the market reaches that price on the chart before you can take a trade. In some cases you will wait the entire day and the market will never reach the price they quoted in their signal. This really sucks when it happens because you basically wasted your whole day waiting for a trade that never happened.
Now autotraders on the other hand eliminated these problems all together. The cool thing is that you don’t have to sit in front of the computer to wait for a signal to come through or wait for the market to reach the price they quoted to take the trade. The other neat thing is that all the customers of the autotrader will be entered at the same (more or less the same) market price. This is a big plus point. Your results should look the same as the autotrader’s results if you took every single trade.
I have recently looked at Trade4me social trading network. There seems to be some really good providers on there according to their trading results. Who knows, I might give it a try in the near future..