Forex Signals – How exactly to Instantly Trade Like You Have Decades of FOREX CURRENCY TRADING Experience

Seriously consider forex signals if you’re not yet trading profitably, have limited experience, or simply don’t have much time to devote to your forex currency trading.

From the easy one email a day variety to the forex mentor who sits with you all day holding your hand as you trade, a portfolio of forex trading alerts can be virtually free and can transform you into a profitable trader instantly.

If like us you’ve ever analysed a chart and placed your own trades, you will almost certainly have also sat before your screen wondering if you were doing the proper thing.

Questions like “have I entered this trade too late ?” and “am I trading in the proper direction (long when I should be short)” will surely have entered your mind.

How many times have you wished you had a specialist trader with decades of experience guiding your trades, keeping you out of dangerous trades, and pointing you towards trades with a higher probability of success ?

non repaint forex indicator We were certainly for the reason that position many times in the early days, but always imagined the cost of having an expert on hand would far outweigh any extra profits we would make. As it happens we were quite wrong.

There are many services available, known variously as forex signals, forex alerts, or forex tips.

Trading signals come in a number of formats, suited to how much of your day it is possible to devote to trading. And yes beware, you can find loads of scams on the market too, but we’ll show you how to avoid them, and we’ll direct you towards the higher ones.

FOREX CURRENCY TRADING Signals – many varieties

The main characteristics of forex currency trading signals to understand are as follows;

Cost: Free OR monthly subscription
Complexity: Simple “one email each day” OR Full-Service
Control: You retain full control OR the signal provider trades your a/c for you personally
Trading style: e.g. frequent scalper OR low volume swing trader
A free forex signal may initially seem like a fabulous idea, but as we will reveal here, you might very well prefer to purchase a free of charge subscription service (yes, we know that doesn’t seem sensible – but read on)
Most forex trading signals charge a very modest subscription fee, usually in the region of USD $80 – $400 monthly (although happily the majority are at the lower end of the range), while there are also websites which provide forex signals for totally free.

Within their simplest form a forex currency trading signal will send you a forex alert email once a day listing trade set ups for the next 24 hours.

Many of these are purely computer generated, some are computer generated and audited by a human expert, plus some are completely researched and generated exclusively by a human expert trader who may add some market commentary to their forex forecast.

Some forex currency trading signals are high volume scalpers, calling many trades per day aiming to profit a small number of pips on each. Others only call several trades a day, looking to profit 20 – 80 pips on each single trade.

At the more full-service end of the market is the type of forex signal service which provides you with an almost 24 hour a day live online broadcast calling forex trading tips as they occur, explaining the logic of the proposed trade and backing it up with an email or even a video clip.

Some forex trading signals will trade their signals in your own account for you, leaving one to just sit back and watch.
This is similar to what a robot does through the use of forex signal software, but with the added reassurance that it is being done by an experienced intelligent human trader rather than dumb machine following an algorithm.

Think of full-service forex currency trading signals just like a forex TV station, that you’ve running in the background on your computer or internet connected laptop during your day. The broadcast remains quiet when there is nothing to do, freeing your time and effort for the other priorities in your entire day, then calls for your attention when there is a trade to put or manage.

You may be surprised, once we were, to discover that the prices charged by full-service providers are usually very similar to those charged by the main one email a day providers.

This type of service usually also contains an interactive facility, enabling you to send a note to your forex mentor if you have a question.

Many forex signal services have very loyal memberships, plus some even limit the quantity of members they will accept.

Free forex signals (virtually)

On the basis that time is money, inside our opinion the volume of time we can now spend on other activities by not slaving over our charts all night searching for an ideal trade set up, not forgetting the improvement inside our trading results, has a lot more than paid for the very modest cost of the forex signal subscriptions.

Indeed in the event that you apply this logic, subscription based services can effectively be free when you look at the improvement in your trading profits, and the freeing of your time for other profitable activities.

If you think about any of it, a subscription based forex signal service has a built-in incentive to call profitable forex currency trading tips, as its subscriber base would soon evaporate if it failed to provide profitable currency trading tips. “Free” non subscription signals do not have this incentive.

Manage your risk

In any aspect of forex trading your primary goal would be to manage your risk. Choosing, and trading a forex trading alert should be no different.

Even the best most experienced provider of forex signals will regularly have losing trades. However taken with all their winning currency trade signals the entire result should be profitable, however, not all systems work all of the time. Some forex alerts may even have a totally losing week or month.

However, we have found through our very own experience that the simplest way of making consistent profits with forex signals is to subscribe to several different forex trading signals and trade all of their signals. If one of them is having a particularly bad week, others should compensate but still net you a profitable week, or break even at worst.

Always do your due diligence before trading a provider’s forex alerts. Good forex signal services will publish their last 6 – 12 months results on the website. Some will even show you details of the specific trades they took. Be prepared to see losses in addition to winners – that’s just the type of trading. Indeed, if the results show only winners, or the provider is unwilling showing you any results, or even to provide contact details of a few of their clients willing to provide a reference be on your guard.

Most will offer you some kind of trial offer or discounted special offer. Make certain you clearly understand the terms of the offer and know the deadline by which you must give notice to terminate if you’re unhappy with the service provided.

If you compare the final 6 month’s results of all of the forex signal service providers you would like to use, you should discover that taken as a whole they delivered a profit.

Past performance is not any guarantee of future results, but we have found that if you have a good mix of trading styles in your trading signals portfolio you are in with a fighting potential for consistent profits whatever the market conditions.

Again, think about the cashflow logic of what you will be doing here – the subscription costs of each forex signals service are already very modest, and by combining them you are increasing your possibility of consistent profits. They can not all get it wrong all of the time, and remember all of them are incentivised by their membership to get it right as often as you possibly can.

Despite having experienced traders calling your trades, it’s prudent risk management never to ever risk a lot more than 3% of your initial capital on any one trade, preferably only 1%. So, if for instance your initial capital, (or even to put it another way, the maximum you can afford to lose) is suppose 5,000, the positioning size you undertake each trade should be such that if the trade hit your stop loss, your maximum loss will be only 1% x 5,000 = 50.

Using forex signals as trade ideas

Even if you prefer never to follow forex ideas to the letter, you can still profit from their trade idea.

For example, if you get a forex tip trading the GBP/USD long with a 40 pip stop loss, but on analysing the charts (following your attendance on a forex training course) you feel more comfortable placing the stop loss let’s say 63 pips below entry, giving the stop protection below an obvious area of recent and prior support, which happens also to be below the weekly pivot point, and in doing so are happy to possess a longer range target – then go right ahead and do so.

We were surprised to get that when we did exactly this with among our forex signals’ tips our trades actually performed better than theirs did. Two heads much better than one maybe.

The point is though, that without the forex market forecast drawing our focus on that particular chart at that particular time we would never have seen that trade idea.

This also makes the point that while it may at first seem temping to let a signal provider trade your account for you, if you have enough time you may actually would rather control it yourself.

If you have been through a good forex training course and understand the concepts of support, resistance, pivot points, trends etc you should always use this knowledge to perform your own homework on forex alerts. You may well find as we did that you can enhance the overall performance of one’s portfolio of forex trade recommendations.

Free forex signals

This section would not be complete without reference to forex signals providers who don’t charge any subscription fee.

As we mentioned previously even subscription charging services should be effectively absolve to you by virtue of calling enough profitable trades to a lot more than cover the subscription cost.

In addition we would rather use subscription based forex signals as they have an incentive to consistently call profitable trades, for the reason that their subscribers won’t stay with them for very long if they don’t.

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