are forex signals on telegram really profitable?

You cannot tell if a signal channel is legit by merely observing discussions in the chat room. Most times these Telegram forex signal providers send out trade ideas that seem to have a good risk to reward ratio.

But during execution of the trade, they will ask the subscribers to close the trade prematurely without it hitting Take Profit. So, this practice is really deceptive, in the end you will only discover that your losses are greater than your wins.

Sometimes, these forex signal providers intentionally understate the losses and overstate the profits when chatting with subscribers on Telegram. They will say things like "we are in massive profit" when in reality it was just a 5-pip profit.

Then when their Telegram forex signals result in a huge loss they will not say "we are in a massive loss" instead they will just say "we recorded a small loss" you see the deception here?

Beginners are the biggest victims of forex signals emanating from all these Telegram channels because many of the beginners do not want to go through the pain of learning so they look for shortcuts.

I will not say that Telegram forex signals do not work, but they have to be followed with common sense and with context.

Nothing is guaranteed in the market so if a signal says place Take Profit at xyz price, it is not cast in Iron, if you see that market dynamics have changed or there is a sudden news release, you should close the trade immediately.

In the end, learning forex and trading for yourself is still the best way, forex signals can be misleading especially for beginners.

If anyone is asking you to buy signals, then chances are he is not a good trader and wants to make money from selling signals instead of trading them. Most good traders give out signals for free without demanding anything in return.

Depends on who you are getting the signal from. But i noticed there is always a problem of late execution, where the signals are received late after the price has already moved. This leads to late execution of the trade, and the end result will not be profitable.

My answer is yes. I will use myself as a case study. I have a telegram group and channel where I post live trades for people to execute. Some weeks we have wins and losses other times but based on the concept of risk to reward, it always end good.

The only issue with signals on telegram group is that you have to be active so as to take the trade the moment it’s posted.

Signals are not bad but how can you be sure the person giving you the signal knows what he is doing? Many of these signal providers have partnership deals with brokers where they earn commissions when they refer you to trade with these brokers. This conflict of interest can make the signal provider send you a high risk signal because they want you to trade a bigger lot size so they get a bigger commission. I dont do signals but if i must subscribe to signals I will ensure the person giving me the signals is not benefitting indirectly from my trades. There should be no conflict of interest. Ask yourself this: did your signal provider ask you to register with a particular broker? if your answer is yes then run.