I had my doubts when I started this Trendsignal Review. After all, Trendsignal promises to teach you how to become a successful Forex trader.
Don’t get too excited, that’s not a new offer. In fact, you could find at least 100 websites in the next half an hour promising exactly the same thing.
Can just anyone be taught to trade?
Trendsignal will tell you that yes, they can. They have all the information needed to enable you to spot good trades and tell them apart from bad ones.
So, it’s all quite simple then. Well no, it’s not. Anybody will tell you any Forex website will have its fair share of hype and this one is no different. What I’m going to do in this review is to discover if there’s any substance behind the claims.
What is Trendsignal?
Trendsignal is a website which aims to teach you how to trade Forex for a profit. There is a certain amount of free content and a much larger paid course. This, on the face of it, is far from unique.
Right there’s quite a lot going on here, but you’ll see it follows quite a familiar pattern.
To start with, they offer free Forex trading webinars. Actually, ‘offer’ might not be the right word. It’s hard to click on anything without being re-directed to the webinar sign-up.
Don’t panic though, if you’re new to Forex trading, this could be useful. These webinars will offer to teach you the rules of trading and are completely free. This means that you can see if this type of thing floats your boat and if it doesn’t, all you’ve wasted is your time.
Trendsignal Free Webinars
A word of warning though. Remember these webinars are a selling tool, so they will paint a very rosy picture of Forex trading. Instead, pay close attention to what you’ll have to do rather than focus on the possible results.
After the webinar, there are several options open to you. The first is their complete trading course. This course is designed to take the skills you already have and improve them exponentially. This is fine if you already have these skills … and no, the ones you just learned in the webinar won’t be enough.
Trendsignal also offers personal coaching. This consists of one to one coaching sessions with one of the Trendsignal mentors, who are all successful traders in their own right.
The teaching will apparently be bespoke for each user and given at a pace that suits you. This sounds like a better option. If you’re an absolute beginner they can give you all of the hand holding you need, one baby-step at a time.
On the other hand, if you have a little more knowledge, you’ll progress at a faster rate. There is no fixed time frame for these sessions, they can work around your life and commitments. If they can deliver that, it seems like a plan.
How does Trendsignal Work?
Once you’ve ‘learned’ the basics, it’s all about the software.
This software is installed in order to show you the trends, hopefully bypassing a lot of staring at screens trying to work out what’s going on.
This all sounds like a great idea, but of course, as with any piece of software, it does have its failings. The main one here is that it is automated.
Yes, that’s the point of software like this but the newbie might not have experience or knowledge to be entirely happy with the trade. This means you could be blindly taking a trade, just because Trendsignal has told you to.
Getting Started – how long does Trendsignal take to set up?
The software itself isn’t a big deal. The time is taken here with you gaining enough knowledge to use it confidently. This, as we all know, will vary from individual to individual.
So, how long does it take to use Trendsignal?
The Trendsignal website is keen to express how, after completing its many training modules (which can take a good few months to get through), you can start to make a profit by Forex trading for just 20 minutes or so a day.
Realistically, unless you went into the training with a bit of practical experience, it will be more like 2-3 hours of staring at a screen. Only after doing this for a while (which again will vary from individual to individual) does the 20 minutes seem practical.
How much can you make with Trendsignal?
Clearly, this will depend on your trading bank. I can safely say only a few will be able to make a full-time income to start off with. That said, learning gradually and building your bank over time will usually bear fruit.
Pricing – how much does Trendsignal cost?
A quick look at the Trendsignal website might lead you to believe everything is free. It certainly looks that way with the ‘book a free place’ button at the bottom of every page you look at.
That is only for the webinar, which IS free as are a few other resources, but that is not true of much of the content. At the time of writing, the cost is $4000 paid in $50 installments.
You will, as with other trading strategies, need some money to use as a bank. If you haven’t got at least £1000 to trade with, it will take you a lot of compounding to get any decent returns.
In all, the price is about the same as similar products. You would also need a similar size trading bank regardless of how you chose to trade Forex.
Is Trendsignal easy to use?
The key here is the training course. If you’ve completed that, then gained some experience so you don’t blindly follow the automatic software, you should find this easy.
However, if you think that using automatic software lets you bypass any learning or practice, you will find this very hard. You’ll also find you’ll lose a lot of money.
Trendsignal Review – Advantages
This is a training program with some good automatic software. It is not overly expensive when you stand this up against comparable products.
The website inspires confidence and there are several members of the Trendsignal team on call or email to answer your questions.
Trendsignal Review – Disadvantages
As big as the training program is, the beginner won’t come out of it being able to trade independently. The trading software is good but needs oversight that can only really be found in more experienced traders.
Also, if you are naive enough to believe that a website that looks that expensive and has that many staff is giving everything away for free, you will be disappointed when you find out about the $4000 price tag.
Trendsignal Review – Conclusion and Overall Rating
If you’re new to Forex trading then this is not a bad place to start. The free webinar is well structured and if you ignore the rose tint it puts on everything, you’ll learn something. It is also worth remembering that this can only take you so far.
It’s all about taking everything said (as with all products of this type) with a pinch of salt. Then read the testimonials. If they are all pictures of people with Ferraris telling you it’s all wonderful, run a mile.
Trendsignal is not like that. The testimonials here are more measured. They will tell you it’s closer to 2-3 hours per day and that losses do occur. The fact that that they are willing to let their users admit that everything in the garden is not rosy is a good sign.
Trendsignal Review – Conclusion
When it comes down to it though, Trendsignal is not brilliant value for money. You have a training course that doesn’t teach you quite enough, and automatic software that isn’t quite good enough.
That said, I’m sure if you were starting from scratch and took advantage of the personal mentorship, you could well find this worth your while, if not your cash,