Forex trading signals

Trading signals are useful instruments both for beginners (as a help or a clue) and for experienced Forex traders (as an element ensuring comfort and quicker income). Forex trading signals make prompts – how and when it is better to enter a transaction. A real person will never be able to keep track of all currency pairs simultaneously, but detection and selection of a winning transaction is even more difficult task for a real trader. Using Forex signals, a trader just waits for a signal, carries out his own analyses to verify and confirm signals, and then selects those most suitable and comfortable for him. It is not necessary to open transactions on each signal received – a trader can ignore those signals that he doesn’t like for some reason.

Forex trading signals help make the whole trading process more efficient by reducing a negative impact of a human factor. A trader begins to be easy-going about his trading process and, therefore, begins to spend his time directly on the generation of profits. Moreover, the majority of trading signals are provided in online mode – a participant of an exchange market can make transactions in parallel with a signal arrival. A trader can receive signals in any convenient way: via SMS, via his e-mail box, via messages to his profile with a Forex trading signal provider or via mail box at MetaTrade 4 trading terminal.

Forex signal types

There are two types of trading signals – automatic execution and manual execution.

  • Using automatic signals, you fully entrust a program with all your funds – this program will make all trading operation for you. The advantage of such trading is that you don’t have to make your own analyses, control markets and carry out transactions, but the risk of losses is extremely high here.
  • Using manual execution, you will have a possibility to make your own decisions оn making a trading operation, which, depending on the market situation, is recommended by a signal. The key benefit of this scheme is the individual monitoring of your trading process and minimization of personal risks.

How to select a Forex signal service

It is important for a trader to choose a Forex signal service that he feels he can trust. The reliability of a provider is a very essential factor – there are too many scammers and cheaters on a current exchange market, and facing one of them a trader will not only become disillusioned with Forex trading signals, but also lose his moneys. It is also worth remembering that, as a rule, trading signals can’t be 100% correct. The result a trader should work to achieve is the prevalence of winning transactions over loss-making ones. To be safe, read what other traders write in the Internet about your provider.

Popular signal providers: investing.com and myfxbook.com Popular signal providers: investing.com и myfxbook.com. A project must have positive statistics coming from external services. For instance, such web-sites as investing.com and myfxbook.com are very popular among traders.

Another important detail is a number of signals, their frequency and accompanying data about them. It is quite convenient, if a Forex signal service provides traders with additional information on the origin of signals and gives analytical data as to the basis of a certain signal.

Package of services and their cost – among Forex signal providers it is easy to meet both: those who provide signals for free (but may release them rarely and they may be of a poor quality), and those who offer paid services (but clearly indicate a number of signals and give additional information).

A trader should also find out whether the customer support service of his Forex signal provider has a feedback communication. Beware of offers that only ask you to pay for a signal package and wait for the SMS. Questions may arise at any time, and often it is very important to get them answered on time.

Selection of a Forex signal provider

>How to choose a provider of Forex signals
  • Selection of a trading signal provider
  • Automatic transaction opening
    Trader information support
  • Income generation

Which signals are better to be avoided?

As mentioned above, Forex market is full of various cheaters that, offering false or even fake signals, seek to benefit from naive users. In order not to fall across such “experts”, a trader must remember a few safety rules:

  • Free trading signals from a Forex broker

    In general, such false schemes indicate that a broker will personally provide its customers with signals, on which they will be able to earn money. Some of them even offer to compensate loses in case of loss-making transactions. But everybody forget about one important detail – brokers make their profits only from unsuccessful transactions, which means that it will be extremely unprofitable for them to help their customers – this would mean giving their earnings to someone else. Most likely, signals will be loss-making and the provider itself will explain it with a usual bad luck. Anyway, all reliable Forex trading signals are better to be tested on a demo-account first.

  • Free trading signals for placing a deposit on a broker’s account

    Don’t trust greeters who offer you to open a trading account via a referral link and, in return, guarantee to provide you with faultless trading signals and make other ample promises. As a rule, this is a popular fraudulent scheme, in which some enterprising people come to an agreement with a broker about getting 20-30% from a customer’s deposit. When such a customer jumps at this bait, these adventurous people take their cut and the broker smoothly loses a customer’s deposit thus gaining its profit. In the overwhelming majority of cases, a trader is left with nothing.

  • Forex trading signals from forums

    As for trading signals from forums and social networks – we recommend not to take them seriously at all. The thing is that “providers” of such signals cannot bear any responsibility for signals they publish – remember that you don’t sign any contracts with these people and don’t even pass any registration. Therefore, people who published Forex trading signals bear no relation to the fact that you used their data and (most likely) failed. On top of that, not a single professional trader will ever share signals using forums and social networks – a signal is always issued with corrections and implies support and answers on user questions. Usually, wise people having high-quality signals want to be paid for them, and unwise people, by definition, cannot provide you with top-quality Forex trading signals.


    Be careful while searching for a Forex trading signal provider. Don’t trust signal services without independent external statistics, don’t trust suspicious authors who hide their faces and don’t trust people who blow their own trumpet and show numerous screenshots of successful transactions indicating huge profits and large amount of positive reviews (fake reviews) from users.

    Beware of companies that don’t guarantee refunds in the event of unforeseen situations (for example, you, for some reason, changed your plans about cooperation) and don’t give any guarantees (preferably documented) of their integrity.

    To ensure the security while using signals, it is better not to trust young projects (1 or 2 months old). A trader should focus on providers that have been acting on Forex market for at least several years (longer is better). If you have s strong wish to deal with a project you like – wait a little longer, study the way it works and develops, don’t take any unjustified risks.

    Never start working with a Forex trading signal providers that act rude towards you, ignore your questions or answer your requests far too long. A customer must be number-one priority for a provider and, if it acts rude on the “getting to know you” phase – most likely, this cooperation will not bode well for you.

Important! Risk disclosure

Using daily Forex signals, you should remember that all of them serve only for informational support during the trading process and they shouldn’t be considered as guidelines to follow. Therefore, if you use automated trading, there is no guarantee that it will be profitable. This suggests that there is no point relying entirely on trade recommendations of one or another signal or trading transactions opened with them. Sure, daily Forex signals can facilitate your work and will probably help you make the right decision, but their use will never become universal for Forex market.

Usually, many resources-providers disclaim all responsibility for the efficiency of trading signals provided by them, but draw trader’s attention to the fact that they do not provide any guarantees of the correctness and relevance of the information they provide. Moreover, a trader always assumes full responsibility for possible losses, which may directly or indirectly be caused by a Forex signal used.

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