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 enough time to devote to your forex currency trading.

From the simple one email a day variety to the forex mentor who sits with you all day long holding your hand as you trade, a portfolio of forex trading alerts can be virtually free and will 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 will be short)” will certainly have entered your mind.

How many times have you wished you had an expert 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 ?

We were certainly for the reason that position many times in the early days, but always imagined the cost of having an expert readily available would far outweigh any extra profits we may 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 various formats, suited to just how much of your day you can devote to trading. And yes beware, you can find loads of scams out there too, but we’ll demonstrate how to prevent them, and we’ll direct you towards the better ones.

FOREX CURRENCY TRADING Signals – many varieties

The main characteristics of forex trading signals to be aware of are as follows;

Cost: Free OR monthly subscription
Complexity: Simple “one email each day” OR Full-Service
Control: You keep full control OR the signal provider trades your a/c for you
Trading style: e.g. frequent scalper OR low volume swing trader
A free of charge forex signal may at first seem like the perfect idea, but as we will reveal here, you may very well prefer to purchase a free subscription service (yes, we know that doesn’t make sense – but read on)
Most forex trading signals charge a very modest subscription fee, usually around USD $80 – $400 monthly (although happily most are at the lower end of the range), while there are also websites which provide forex signals for no charge.

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

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

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

At the more full-service end of the marketplace is the sort of forex signal service which gives 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 having an email or even a video clip.

Some forex trading signals will trade their signals in your own account for you, leaving you to just sit back watching.
This is similar to just 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 a dumb machine following an algorithm.

Think of full-service forex currency trading signals such as a forex TV station, which you have running in the background on your pc or internet connected laptop throughout your day. The broadcast remains quiet if you find nothing to do, freeing your time and effort for another priorities in your day, then demands your attention when there is a trade to place or manage.

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

This type of service usually also contains an interactive facility, helping you to send a message to your forex mentor in case you have a question.

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

Free forex signals (virtually)

On the basis that point is money, in our opinion the amount of time we can now spend on other activities by not slaving over our charts for hours searching for an ideal trade set up, not forgetting the improvement in our trading results, has 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 it, a subscription based forex signal service has a built-in incentive to call profitable forex trading tips, as its subscriber base would soon evaporate if it didn’t provide profitable currency trading tips. “Free” non subscription signals don’t have this incentive.

Manage your risk

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

Even the very best 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 still be profitable, but not all systems work constantly. Some forex alerts may even have a totally losing week or month.

However, we’ve found through our very own experience that 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 an especially 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 demonstrate details of the actual trades they took. Be prepared to see losses and winners – that’s just the type of trading. Indeed, if the outcomes show only winners, or the provider is unwilling showing you any results, or even to provide contact details of some of their clients willing to give a reference be on your guard.

Most will offer you some sort of free trial or discounted special offer. Ensure that you clearly understand the terms of the offer and know the deadline by which you must give notice to terminate if you are 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 find that taken as a whole they delivered a profit.

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

Again, take into account the cashflow logic of what you will be doing here – the subscription costs of each forex signals service already are very modest, and by combining them you’re increasing your probability of consistent profits. They can not all get it wrong constantly, and remember they are all 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 reduce) is suppose 5,000, the position size you take on each trade should be in a way that if the trade hit your stop loss, your maximum loss would be no more than 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 benefit from their trade idea.

For example, if you receive 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 convenient placing the stop loss suppose 63 pips below entry, giving the stop protection below an obvious section of recent and prior support, which happens and to be below the weekly pivot point, and in doing this are happy to have a longer range target – then go on and do so.

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

The point is though, that without the currency markets forecast drawing our attention to that particular chart at that particular time we would do not have seen that trade idea.

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

If you have experienced a good forex training course and understand the concepts of support, resistance, pivot points, trends etc it is best to use this knowledge to execute your own due diligence on forex alerts. You may well find once we did that you can enhance the overall performance of one’s portfolio of forex trade recommendations.

non repaint forex indicator Free forex signals

This section wouldn’t normally be complete without mention of forex signals providers who don’t charge any subscription fee.

As we mentioned above even subscription charging services ought to be effectively free to you by virtue of calling enough profitable trades to more than cover the subscription cost.

In addition we would rather 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.

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