Forex scalping signals are generally considered a quick money spinning strategy. As a result, the forex scalping market has become a kind of magnet - it attracts more and more people around the world because everyone wants to make quick money. As a result, too many alerts providers in the market have started claiming themselves to be expert scalpers, providing signal services to help traders in making profits. When in the forex market, it's very important to make sure about the criteria you should use to pick a signal provider in order to not lose all your money. Below Yee Kok Siong a forex investor discusses the important features to consider while choosing a forex scalping signals provider that you can trust.
Look for...
1) Past performance: Market understanding comes with experience - a fact that will reflect in the past performance of the scalping signals provider. Make sure you examine their report card - profits made by their clients based on the signals they provided. This will give you an idea of the accuracy of their signals.
2) Consistency: Scalping signals are time sensitive and hence, the signals provider you select should be reliable and consistent with their services. At a minimum, they should at least provide you signal as per the schedule committed by them.
3) Expertise: Find out everything you can about the people running the signal providing company. What kind of market expertise do they possess? How professional are they with this service? How well do they understand market dynamics? Their expertise will determine the quality of signals you receive and the profits you make on your trades.
4) Promptness: As indicated above, scalping is a time sensitive affair - market opportunities come and go within minutes. In a situation where your trade window spans just about 3-5 minutes, you need a signals provider that can tell you what to do promptly and accurately.
Beware of...
1) Promises of huge profits: Be careful of overly pompous service providers with unrealistic claims of success on the market. If a scalping signal provider promises you a high return on 'more' investment, it's possible that you have found a fraud who may cheat you out of your money.
2) No-loss trading guarantees: Any professional forex scalping signal provider cannot guarantee you 100% profits with scalping trading. Any claim of No-loss-results raises a glaring red flag.
Keep the above tips by Yee Kok Siong in mind when choosing a forex scalping signals provider for your trade requirements.