Is it me or are the more companies offering Forex trading signals than ever before? I suppose I can understand why. After all, it must make the inexperienced trader more comfortable knowing that they can just follow someone else’s signals and not have to think about the market. But does this hinder a trader more than it helps?

I can’t help but think of the old saying "fish for a man, feed him for a day. Teach a man to fish, feed him for a lifetime." Are you really growing as a trader, if all you are doing is copying what somebody else is doing. You may think, "I’m making money, so I don’t care". OK…fair enough, but what happens if the signal service just suddenly disappears one day?? You are left exactly where you started.

The other problem I have with signal services is the fact that a lot of them are just terrible. People think they are getting a quality service, but more often times than not, they are paying for a signal provider who doesn’t know a market order from a limit order.

If you have found a good signal provider, than more power to you. I still think you should be learning to trade for yourself. After all, I think it’s hard to call yourself a Forex trader if you are not the one making the decisions.

Do yourself a favor and just study a simple price chart. I guarantee you it’s not as complicated as you think it is.