Should You Trust Forex Signal Testimonials?
This question comes up often. Should you believe all Forex signal testimonials? Right off the bat I would say that you should not, but we're going to dig into the matter a little bit deeper to help set you on the right track.
The testimonial is supposed to be a statement from a customer expressing how satisfied they are with a Forex product. As you and I both know the best type of advertising available is word of mouth and the best type of testimonial is the unsolicited testimonial from a satisfied customer. You will find as you explore further that not all testimonials are created equal.
Our investigations have shown that some Forex product vendors will go to any length to get you to buy their product. We've even seen one vendor refer to their testimonials as "faux". We can only find this after digging deep into the small print of the vendor's legal disclaimer. In essence this company is telling us that the testimonials featured on the website are fake. Now ask yourself this question, "Would any legitimate company with a legitimate product need to use fake testimonials?" This is a simple example of just how far some people will go to sell you their product.
The problem with Forex signal testimonials even if they are from real customers is that they simply do not mean very much. The reason they don't mean very much is most all of them report some very short period of time that the customer has been using the product. For example, one customer may say that they made a 30 pip profits their very first day and another customer may say that they made 100 pips profit in one week. On the surface it sounds great, but in reality a week, a month or even a few months doesn't really tell you anything about a Forex signal's ability to trade over the long term.
There are many product pages filled with either written or video testimonials and they are mostly as described above... short-term. A month or even several months of fantastic trading performance really doesn't mean anything in the grand scheme of Forex trading. Our research has shown that even some of the worst performing Forex trading systems can look fantastic for a few months.
So what should you do when evaluating Forex signals you're interested in using? Completely ignore the Forex signals testimonials. That's right, completely ignore them as they won't help you make an objective decision. We suggest going to a highly informative site such as http://www.FXForexFX.com and check out a few of their latest Forex trading books. While you're there you'll also be able to pick up a great free report that will show you step-by-step how to evaluate Forex software, Forex robots, and Forex trading systems.
The testimonial is supposed to be a statement from a customer expressing how satisfied they are with a Forex product. As you and I both know the best type of advertising available is word of mouth and the best type of testimonial is the unsolicited testimonial from a satisfied customer. You will find as you explore further that not all testimonials are created equal.
Our investigations have shown that some Forex product vendors will go to any length to get you to buy their product. We've even seen one vendor refer to their testimonials as "faux". We can only find this after digging deep into the small print of the vendor's legal disclaimer. In essence this company is telling us that the testimonials featured on the website are fake. Now ask yourself this question, "Would any legitimate company with a legitimate product need to use fake testimonials?" This is a simple example of just how far some people will go to sell you their product.
The problem with Forex signal testimonials even if they are from real customers is that they simply do not mean very much. The reason they don't mean very much is most all of them report some very short period of time that the customer has been using the product. For example, one customer may say that they made a 30 pip profits their very first day and another customer may say that they made 100 pips profit in one week. On the surface it sounds great, but in reality a week, a month or even a few months doesn't really tell you anything about a Forex signal's ability to trade over the long term.
There are many product pages filled with either written or video testimonials and they are mostly as described above... short-term. A month or even several months of fantastic trading performance really doesn't mean anything in the grand scheme of Forex trading. Our research has shown that even some of the worst performing Forex trading systems can look fantastic for a few months.
So what should you do when evaluating Forex signals you're interested in using? Completely ignore the Forex signals testimonials. That's right, completely ignore them as they won't help you make an objective decision. We suggest going to a highly informative site such as http://www.FXForexFX.com and check out a few of their latest Forex trading books. While you're there you'll also be able to pick up a great free report that will show you step-by-step how to evaluate Forex software, Forex robots, and Forex trading systems.
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment