How people are getting bankrupt using forex signals?
I got this message from one of my readers, he said that his friend lost about $15,000 in forex trading and now they blame the trading signals for their loss. I think it is more a case of greed rather than blaming the signals . You see, if you are going to trade the markets, you have to know what kind of trader you are. Don't blame the forex signals if you lose money, because it doesn't mean that all free forex signals are bad.
Some people think they can just copy/paste a signal and go long or short based on just one signal without doing any risk management. They have no idea about stop loss or take profit or how to manage their losses with protective stops. If you know exactly what your risk per trade is before entering into the market then you should be fine with most free forex trading signals. But still, there are some problems, let me give an example :