Forex Signals – How to Instantly Trade AS IF 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 easy 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 trade alerts can be virtually free and may transform you into a profitable trader instantly.

If like us you’ve ever analysed a chart and placed your own trades, you will probably have also sat in front of 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 perhaps you have 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 in that position many times in the first days, but always imagined the cost of having an expert readily available would far outweigh any extra profits we would make. As it happens we were quite wrong.

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

Trading signals come in a variety of formats, suited to just how much of your day it is possible to spend on 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 better ones.

FOREX CURRENCY TRADING Signals – many varieties

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

Cost: Free OR monthly subscription
Complexity: Simple “one email a 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 initially seem like the perfect idea, but once 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 trade signals charge an extremely modest subscription fee, usually in the region of USD $80 – $400 monthly (although happily most are at the lower end of this range), while there’s also websites which provide forex signals for no charge.

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

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

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

At the more full-service end of the marketplace is the kind of forex signal service which gives you having 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 online video.

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 just what a robot does through the use of forex signal software, but with the added reassurance that it’s being done by a skilled intelligent human trader rather than dumb machine following an algorithm.

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

You may be surprised, as we were, to discover that the costs charged by full-service providers are often nearly the same as those charged by the one email a day providers.

This kind of service usually also includes an interactive facility, helping 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 point is money, inside our opinion how much time we can now devote to alternative activities by not slaving over our charts for hours searching for an ideal trade set up, not to mention the improvement in our trading results, has more than paid for the modest cost of the forex signal subscriptions.

Indeed if you apply this logic, subscription based services can effectively be free once you look at the improvement in your trading profits, and the freeing of your energy 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 forex trading tips. “Free” non subscription signals don’t 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 very best most experienced provider of forex signals will regularly have losing trades. However taken with all their winning currency trade signals the overall result should be profitable, but not all systems work constantly. Some forex alerts could even have a completely losing week or month.

However, we have found through our very own experience that the best way of making consistent profits with forex signals would be to subscribe to several different currency 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. Expect to see losses and winners – that’s just the nature of trading. Indeed, if the outcomes show only winners, or the provider is unwilling showing you any results, or to provide contact details of some of their clients willing to give a reference be on your guard.

profitable forex indicator Most will offer you 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 must give notice to terminate if you are not happy with the service provided.

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

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

Again, think about the cashflow logic of what you would be doing here – the subscription costs of each forex signals service are already very modest, and by combining them you’re increasing your probability 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 to never ever risk more than 3% of your initial capital on anybody trade, preferably only 1%. So, if for instance your initial capital, (or to put it another way, the maximum you can afford to lose) is suppose 5,000, the position size you take on each trade should be such 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, it is possible to still benefit 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 program) you feel more comfortable placing the stop loss suppose 63 pips below entry, giving the stop protection below a visible area of recent and prior support, which happens also to be below the weekly pivot point, and in doing this are happy to get a longer range target – then go right ahead and do so.

We were surprised to get that whenever 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 main point is though, that without the forex market forecast drawing our attention to 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 sign 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 program and understand the concepts of support, resistance, pivot points, trends etc you should always use this knowledge to execute your own homework on forex alerts. You may well find as we did that you can improve the overall performance of one’s portfolio of forex trade recommendations.

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 should be effectively free to you by virtue of calling enough profitable trades to more than cover the subscription cost.

In addition we prefer to use subscription based forex signals because they have a motivation to consistently call profitable trades, in that their subscribers won’t stick with them for very long if they don’t.

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