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Forex Signals Success Course 10

Forex Signals Deadly Sin 10: Not Using Trial Period Wisely

If you have been following the Forex Signals Success Course, you know there are many things that can stand in your way of being successful with a Forex signals service.  Some of the issues have to do with how the signals service is set up.  Other issues have to do with the signals follower and how they approach using the service.

One of the tools a lot of Forex signals services use to help people decided on using their signals service is the Trial Period.  A lot of services give a free trail period for a certain amount of time, which is a great way to experience the signals before joining the service.  But even the trial period can be an obstacle.

In this lesson I want to go over the Forex Signals Deadly Sin of not using the Forex signals trial period wisely.

How You Should NOT Use A Forex Signals Trial Period

If you join a Forex signals service trial period and base your decision to stay only on if the service was profitable during the trial period, you could be making a big mistake.  Normally, trial periods of 7 days, 14 days or even a month are not long enough to make a decision based on performance.  Performance should be looked at over the long term, and trial periods are just too short to make an informed decision.

All signals service depend on performance which comes from a combination of the trader, the strategy and the market.  There will be times of growth, times of consolidation and times or drawdown.  The trick is to find a signals service that is profitable over the long-run, which means the performance you get during the trial period is just too random to be a major factor in your decision to join or not.

Basically, don’t let short term performance sabotage your long term profit potential.

How You SHOULD Use A Forex Signals Trial Period

So, if the signals performance is not the deciding factor, what are?

The first thing to look for in a Forex signals trial period is if you believe the past performance published.  Obviously, you are going to take the trial for a service reporting positive results in the past.  When you take a trial period, you can get a feeling for whether these results are true or not.  You can tell from the trial whether the performance statistics reported are possible and probable.

The second thing to look for in a Forex signals trial is if you can trade the signals.  In order to get similar results as the signals service you are following, you need to be able to trade the signals as close to perfect as possible.  You can easily tell this from a trial period.

Taking a trial of a Forex signals service is more about getting a feeling for the service and proving to yourself you can actually trade the signals given than the actual performance numbers of the trial period.  Trading Forex is a long term activity, and you should not base your long term decisions on short term results.

In short, don’t commit the Deadly Sin of not using the Forex signals trial period wisely.

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About the Author

Edward Lomax

Edward Lomax

Edward Lomax is a Forex blogger and educator. Originally from the East Coast of the United States, he currently lives in Chile with his wife.
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