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22 Mar 2016
Forex signals
Seriously consider forex signals if you aren't yet trading profitably, have limited experience, or perhaps don't have much time to commit to your forex trading.

forex system

From the simple one email per day variety to the forex mentor who sits along with you all day holding a hand as you trade, a portfolio of foreign exchange 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 most likely have also sat in front of your screen wondering if you've been doing the right thing.

Questions like "have I entered this trade too far gone ?" and "am I buying and selling the right direction (long while i should be short)" will definitely have entered your head.

How many times have you wished you had an expert trader with decades of experience guiding your trades, holding you back out of dangerous trades, and pointing you towards trades having a higher probability of success ?

We were certainly in that position more often than not in the early days, but always imagined the cost of having an expert accessible would far outweigh any other profits we might make. As it happens we were quite wrong.

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

Trading signals appear in a variety of formats, suited to how much of your day you are able to devote to trading. E-mail beware, there are loads of scams on the market too, but we'll explain to you how to avoid them, and we'll direct you towards the better ones.

Foreign currency trading Signals - many varieties

The primary characteristics of forex trading signals to be aware of are listed below;

 Cost: Free OR monthly subscription
 Complexity: Simple "one email a 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 no cost forex signal may initially seem like a fabulous idea, but because we will reveal here, you might very well prefer to pay for a free subscription service (yes, we all know that doesn't make sense - but continue reading)

Most forex trade signals charge a very modest subscription fee, usually around USD $80 - $400 a month (although happily the majority are at the lower end of this range), while additionally, there are websites which provide forex signals for no charge.

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

Some of these are purely computer generated, many are computer generated then audited by a human expert, and some are completely researched and generated exclusively by the human expert trader who will add some market commentary for their forex forecast.

Some forex trading signals are high volume scalpers, calling many trades in a day aiming to profit a number of pips on each. Others only call a number of trades a day, aiming to profit 20 - 80 pips on every single trade.

On the more full-service end in the market is the type of forex signal service which supplies you with an almost 24 / 7 a day live online broadcast calling forex trading tips as they occur, explaining the logic from the proposed trade and backing it down with an email or perhaps a video clip.

Some currency trading signals will even trade their signals in your own account for you, leaving you to just sit back and view.
This is similar to such a robot does by utilizing forex signal software, however with the added reassurance it's being done by a professional intelligent human trader rather than a dumb machine following a formula.

Think of full-service forex trading signals as being a forex TV station, which you have running in the background on your computer or internet connected laptop during your day. The broadcast remains quiet if you find nothing to do, freeing your time and effort for the other priorities with your day, then calls for your attention should there be a trade to place or manage.

You may be surprised, as we were, to discover that the prices charged by full-service providers are often very similar to those charged with the one email every day providers.

This type of service usually also includes an interactive facility, making it possible to send a message on your forex mentor when you have a question.

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

Free forex signals (virtually)

Because that time is money, inside our opinion the amount of time we are able to now devote to alternative activities by not slaving over our charts all day searching for the perfect trade create, not to mention the improvement within our trading results, has over paid for the very modest cost of the forex signal subscriptions.

Indeed in case you apply this logic, subscription based services can effectively be free whenever you take into account the improvement in your trading profits, along with the freeing of your time for other profitable activities.

If you feel about it, a subscription based forex signal service includes a built-in incentive to call profitable forex trading tips, as its subscriber base would soon evaporate whether or not this failed to provide profitable trading currency tips. "Free" non subscription signals don't have this incentive.

Manage your risk

In any aspect of forex trading your main aim is to manage your risk. Choosing, and trading a forex trading alert should be no different.

Every most experienced provider of forex signals will regularly have losing trades. However taken with all of their winning currency trade signals the entire result should nevertheless be profitable, but not all systems work constantly. Some forex alerts might even have a completely losing week or month.

However, is through our own experience the best way of making consistent profits with forex signals is to subscribe to several different currency trading signals and trade all their signals. If one of these is having a particularly bad week, others should compensate and 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 Six to twelve months results on their site. Some will even explain to you details of the actual trades they took. Expect to see losses as well as winners - that's the nature of trading. Indeed, if the results show only winners, or perhaps the provider is often unwilling to show you any results, in order to provide contact details of a selection of their clients willing to provide a reference be on your guard.

Most will provide some sort of free trial or discounted special offer. Make sure that you clearly understand the terms of this offer and know the deadline by which you have to give notice to terminate if you aren't happy with the service provided.

In the event you compare the last 6 month's outcomes of all the forex signal agencies you intend to use, you need to find that taken as a whole they delivered a return.

Past performance isn't guarantee of future results, but recommendations that if you have a good mix of trading styles inside your trading signals portfolio you're in with a fighting chance of consistent profits no matter what market conditions.

Again, look at the cashflow logic products you will be doing here - the subscription costs of each forex signals service are already very modest, through combining them you happen to be increasing your probability of consistent profits. They are unable to all get it wrong every time, and remember they are all incentivised by their membership to get it right as often as possible.

Even with experienced traders calling your trades, it's prudent risk management to never ever risk more than 3% of your respective initial capital on anyone trade, preferably only 1%. So, if for example your initial capital, (or to put it another way, the utmost you can afford to lose) is let's imagine 5,000, the position size you take on each trade should be such that if the trade hit your stop-loss, your maximum loss can be no more than 1% x 5,000 = 50.

Using forex signals as trade ideas

Although you may prefer not to follow forex tricks to the letter, you can still profit from their trade idea.

As an example, if you receive a forex tip trading the GBP/USD long with a 40 pip stop loss, but on analysing the charts (following on from the 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 and also to be below the weekly pivot point, plus doing so are happy to experience a longer range target - go right ahead and do this.

We were surprised to locate that when we did exactly this using one of our forex signals' tips our trades actually performed a lot better than theirs did. Two heads better than one maybe.

The thing is though, that minus the forex market forecast drawing our focus on that particular chart as well particular time we would never have seen that trade idea.

This too makes the point that while it may at first seem temping to permit a signal provider trade your money for you, if you have the time you might actually prefer to 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 due diligence on forex alerts. You could possibly well find once we did that you can boost the overall performance of your portfolio of foreign exchange trading recommendations.

Free forex signals

This would not be complete without hitting the ground with forex signals providers that don't charge any subscription fee.

Even as we mentioned above even subscription charging services ought to be effectively free to you thanks to calling enough profitable trades to greater than cover the subscription cost.

In addition we prefer to use subscription based forex signals because they have an incentive to consistently call profitable trades, for the reason that their subscribers won't stick with them for very long if they don't.

Free signals in contrast have no such incentive, so keep in mind and trade them at the own risk.


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