Are you a forex trader looking to minimize potential losses, gain knowledge, and secure reliable returns? Well, that just about describes every trader out there. If you’re playing the long game, you need to learn as much about different strategies, indicators, and trading signals.
Related Post: Best Forex Trading Software for Traders
One of the biggest obstacles traders nowadays face is a lack of experimentation. According to the International Journal of Multidisciplinary Research Academy, only a quarter of traders have tried more than 6 trading strategies. Most have tried around 3. There’s a problem with that.
If you want to make the most out of your trading efforts, you need first-hand knowledge. And if you can’t gain it, you can exchange experiences with like-minded individuals. That’s where social media platforms, channels, and groups come into play.
To help you find the best forex signals (https://forexrobotnation.com/15-best-forex-signals-tested-reviewed/), we’re going to discuss the forex group.
What Groups Are Best for Forex Trading?
No matter if you’re a stock, currency, or even crypto trader, knowledge is key to making the most out of your trades. The market is volatile and quick-moving. That means you can gain great returns with smart decisions in a short amount of time and lose a lot just as quickly.
Whether you gain or lose money, it’s all up to your understanding of the market. You need to read the signals properly and react accordingly. How can you learn all of this? Do you have to rely on trial-and-error and spend years trading before making a profit?
Not quite. You can communicate with traders in your field in various groups online and learn from their mistakes. Where do you find these groups? They’re all over the place – on Facebook, Reddit, and Telegram, to name a few – you just need to pick the right one for you.
Forex traders predominantly operate in these groups, which have thousands of like-minded people as members. They work like this: when a trader notices a forex signal, they send a notification that tells you whether to buy or sell a forex pair.
Best Forex Signals Groups
When choosing a trading group, the first thing you need to realize is that there are a lot of scammers out there. Many of them try to pray unsuspected forex traders, with little to no experience in the business. How many scam groups are out there?
It’s hard to tell really. We can only assume. Some experts think that there are literally thousands of fraudulent forex signals groups out there. In order to make a good return, you need a group that has your interests at heart and sends only the best forex signals.
Here are some of the biggest legitimate groups on the Internet…
1. Forex Robot Nation
The Forex RObot Nation has been around for half a decade at this point. The website is divided into two parts:
- Companies discussions
- Signals & Robot tests
These parts are divided into more sub-groups. However, as you can see, overall, the group tries to cater to the needs of both beginners and professionals.
You also have a very active sub-group called “Scam Alerts” where people who’ve been scammed by fake forex groups/traders/platforms share their stories. This helps educate others about the potential dangers in the forex market and allows the newcomers to find out who really provides money-worthy services in the forex industry.
2. Forex Signal Factory
In the second spot, we have a Telegram group called Forex Signal Factory. If you want to become a member, you need to download the latest version of the encrypted Telegram app. By joining the group, you’ll gain access to more than 12,000 active members.
From the data provided by the FSF staff, you can see that 90% of these members are active in the group and that all of them have their notifications turned on. All of the messages in the group a concise, short, and straight to the point. You won’t have to worry about spam in FSF.
3. Tugas FX
With almost 5,000 members, Tugas offers great summaries on forex pairs. The main benefit of the group is the ability to find out what forex pairs are worth trading. You can learn their SL/TP, condition patterns, and lots. Furthermore, Tugas publishes closed trades on a daily basis.
The only problem with Tugas is that some of the posts are written in a technical language. That means texts are filled with tech jargon, industry-specific phrases, and abbreviations. This what makes a lot of new traders turn their back on Tugas. However, that’s a shame.
If you stick around long enough to learn all of the lingo, you’ll gain access to a ton of useful information that will help you further your trading career.
4. Profit Forex Signals
This Facebook page gives signals to traders who work strictly online. There’s a rather specific thing that differentiates this page from others. There are two groups on this page:
- Profit Forex Signals (more than 3,5000 members)
- Learn Forex With Profit Signals (more than 4,000 members)
Both of these groups have daily posts. The first group is meant for people who already know the basics of trading. The second one is meant for people with less knowledge. The free version of the group has good information, but if you want the really useful info, you need to pay a fee.
The Bottom Line
By using forex signals, traders can increase their potential returns by a significant margin. That’s why signal trading is becoming more and more popular as time goes by. Double that with a reliable signals provider, and you can generate a reliable income stream from forex trading.
Isn’t that something every trader out there dreams about?
There are numerous forex signal groups out there. We’ve introduced you to some of the best ones, in our personal opinion. If you want to have the best forex signals for your particular style of trading, you need to go out there and see what group fits you the best.
Make sure to do plenty of research before joining a group. Good luck with your trading.