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forex trade signals

Factors to consider when executing forex trade signals

Mastering the Forex signal systems is one of the most important factors which can affect the profitability of both beginner and more experienced traders. In such a volatile financial market, successful traders and investors recognize the importance of forex trading signals. An entire industry has been built up around trading signals, as well as the massive amounts of trading signal recommendations that flood the internet. In this article we will go through some of the key considerations one should address when jumping into the forex trading market.

What is the key consideration for forex trading signals?

As with most goods, quality should always come before quantity in regards to your forex signals. The best possible forex signals will include a detailed description of the optimal configuration for your Stop Losses and Take Profits. 

Many available Forex trading signals will try to give you advice on when to jump into specific trades or possibly the direction of the recommended trade. While this may be helpful information, it is ultimately only part of the puzzle that makes up successful trading. 

Make sure to look for quality trading signals that provide specific information to inform the best possible trades. If you are curious about different platforms, you can often sign up for a free account or perhaps a Demo option which will allow you to gauge the quality of the signal trading provided without the possibility of losing any of your hard earned money if the signals provided turn out to be limited.

Best Time Frames

Another factor to consider when searching for a great Forex signal trader is the time frame in which signals are provided. It should be noted that in Forex trading, as in any financial trading, time is often of the essence. When executing maneuvers such as scalping, this fact can be especially true. 

If the Forex trading signals you receive from the system you choose are not timely, it can make the difference between a financial windfall and a huge loss. Some traders would argue that it is impossible to use signal trading when your strategy contains scalping, but with a quality signal trading system it is possible to make informed decisions on trades even when scaping.

That said, each Forex signal system is a reflection of the personal methods and preferences of the signal provider. Therefore, it stands to reason that each signal trading system is different. Most signal trading systems do fall into two main categories:

  1. Technical analysis-based which use a mathematical algorithm to analyze past price movements and use that information to inform their current trade recommendations. 
  1. By contrast, Fundamental analysis focused Forex trading signal providers use information derived from current events and make their trade recommendations based on the likely impact of such events.

Finding The Best Forex Signals for your Trading Strategy

The quality of your forex trading signals make a huge difference in the profitability of your movements within the Forex market. Since you will simply be applying the information provided by the signal trading system you select, it is important to consider many factors when choosing the best option.

Take the time to consider this checklist before making a decision regarding your forex trade signals.

  • Time Zone – It makes the most sense when trading to choose a provider which will send information when you are likely to be awake. Because decisions in trading often need to be made very quickly, receiving trade signals while you are alert and ready to make moves will allow you to make the best decisions.
  • Free Trial – Using a Forex signal trader that allows a free trial/test period can help you to determine if the system is the best fit for you. Systems like Telegram will allow you to sign up and take a look around the platform, because they are confident in their ability to meet the needs of most users.
  • Compare – Take some time to check out a few different options. There are many trade signaling platforms available on the internet, and choosing the right one for you may not happen on the first try. 
  • Track Record – Take a good look at the track record of your forex signal provider. This should tell you everything you need to know about the setup performance-wise. As with any product, look into reviews from users and experts in the field before choosing a provider. There are many review services available. One good one is MyFxBook.com.
  • Full Analysis – Look for a Forex signal provider that will give you detailed information on the signals they are sending. In order to make the best decisions in your trades, you need to have a full picture of the market analysis. If the signal provider you are using only gives you limited information like SL/TP, you may need to investigate an alternative as this information is not reflective of the full spectrum.
  • Focus On You – Make sure the style of the signals fits your trading startegy. Earlier we mentioned the two main types of Forex trade signal platforms, there are a few more that you may want to consider. There are short- and long-term signals, signals focused on intraday breakouts, and more. Making the most money possible on any given day is likely your top priority. You will find that reaching this goal is likely easier if you choose a signal trader that fits with your preferred style.
  • Extras – You may also want to look into a system that offers additional features such as social trading or educational resources. Perks like this can add additional value to your Forex trade signaling experience and can make for a better trading environment.

Using trading signals to make the best possible decisions when trading Forex can be a very lucrative decision. Finding the best possible Forex trading signals is imperative. Follow these recommendations and watch your portfolio grow.

Photo by Christian Wiediger on Unsplash

Pros and Cons of Forex Signals on Telegram

With so much information about the forex market and trading, navigation can be a severe challenge. As a result, few traders can genuinely study the market to develop effective trading strategies. In comparison, the vast majority of traders rely on social trading, hence forex signals on telegram.

Essentially, social trading is all about incorporating social media into your trading to gain leverage. Therefore the power due to social trading is a forex signal. Additionally, there are several social media platforms for obtaining forex trading signals. However, this article will focus on forex signals on telegram because the social media platform of focus here is telegram.

What are Forex Signals?

Forex signals are prompts that guide traders, whether newbie or experienced, towards the right time to place a trade. Usually, many traders lack the patience to study and analyze the market to develop trading strategies. And so, they mitigate this limitation by subscribing to forex signals to help them maximize their investments. Most forex signals come through emails, SMS, RSS feeds, and social media platforms. And telegram provides the most widely used social media platform for disseminating forex trading signals. As a result, we have loads of forex signals on telegram.

Pros and Cons of Forex Signals on Telegram

Because most telegram channels have a feature that allows the accommodation of tons of users. It is becoming the most sought-after media for disbursing and obtaining forex signals. And although forex signals provide some analytical relief for the trader, it is not without their advantages and disadvantages. As a result, here are a few pros and cons of forex signals on telegram.

Pros of telegram Forex signals

The number of traders who subscribe to forex trading signals on telegram continues to increase every day. The reason is that there are several advantages of getting forex signals on telegram. And here are a few of such uses.

  • It provides beginners with a trading opportunity.

Forex signals, primarily through telegram channels, provide novice and inexperienced traders with trading opportunities. As a result, most beginner traders do not have to go through the rigors of learning independent strategies. Also, trading signals through telegram affords novice traders leverage to copy trade and benefit from the expertise of experienced traders- humans or robots.

  • It saves time on market analysis.

Because forex trading requires tons of analysis, most traders suffer from information overload. There is always so much to learn. As a result, most traders do not have the time to commit to understanding how the market works. Therefore these signals save them time on extensive market analysis.

  • Speed in obtaining the signals due to instant messaging

Since telegram is a social media instant messaging platform, there is excellent speed in getting these signals. Also, users and subscribers can engage one another on the signs for better understanding.

  • Telegram accommodates many users.

Unlike many WhatsApp groups, telegram can accommodate as many users without feeling overloaded. As a result, most forex signal providers prefer using telegram as a direct platform instead of simpler media like WhatsApp.

  • Access to free forex signals

Most signals provided via telegram are usually free of charge, even though some paid telegram channels are still available. However, it is a lot easier to get free signals over telegram than with other media. 

Having discovered a few benefits of forex signals, let us consider a few demerits and why we should utilize them with extreme caution.

Cons of telegram Forex signals

  • High risk of forex scams abound.

The proliferation of forex signals and signal providers makes it easy for scammers to pose as genuine sources to defraud unsuspecting subscribers. Additionally, the open and widespread usage of telegram channels also makes it increasingly easy to perpetuate forex trading scams. As a result, before subscribing to forex signal providers, you need extreme caution.

  • Most genuine forex signals are costly.

Most forex signals on telegram are provided for free. However, the majority of such signs are not genuine. Therefore, the scarcity of free accurate signals creates an increase in the price for paid signals. And most newbie traders may not be able to pay for such exorbitant subscriptions.

How telegram.forex provides forex signals on telegram for users

In business and investment, the power of leverage is of inestimable value. As a result, telegram.forex provides leverage for many traders through copy trading and forex trading signals. Therefore regardless of your trading level of expertise, you do not have to miss out on profitable trading opportunities ever again.

FAQS? What are forex signals?

What are forex signals?       

Forex signals get to traders through various platforms, mainly social media, for execution. A forex signal tells you when to place a buy or sell command for a currency pair, assuming currency trading is your thing. Additionally, forex trading signals provide news and other relevant information together with engagement platforms for their subscribers. However, while some forex signals on telegram are free of charge, the others require a subscription fee to access them.

Why is telegram used for forex?

Because we get most forex signals through social media platforms, telegram is essential since it is one social media platform that accommodates many participants. Additionally, it functions as a platform for instant yet private messaging. Therefore, subscribers can easily, quickly, and directly access the trading signals in real-time.

What is a Pip in forex trading?

A pip in forex is the short form representing “percentage in profit,” also known as “price interest point.” It is the slightest change between a currency pair and the last decimal point of a price quote. For instance, if we consider USD/GBP where the price shifts from 1.1040 to 1.1041, the difference is 1.1041-1.1040=0.0001. As a result, 0.0001 represents the price increase between the currencies, and consequently, ONE PIP. Therefore the slightest measure to indicate a change in value between currencies is a pip.

Can you Trust forex signals?

There is nothing illegal about forex signals, both giving and receiving them. However, it would help if you were cautious when subscribing because many providers find it easy to pose as genuine providers. And then utilize forex signal provision to scam unsuspecting victims. As a result, if you are an intending subscriber, you should research the signal provider and the channel of receiving the forex signals before subscribing. It would also help to be careful with supplying vital information like your login or account details.

Photo by Clay Banks on Unsplash

TOP 3 TYPES OF FOREX SIGNALS

Trying to identify the best forex signals for your trading can be a lot of hassle, especially with the high volatility available in the forex market. It makes good sense to attempt to play it safe since fx signals seem to be the solution. However, if fx signals come from signal providers, how can we identify which way to go?

Forex signals are ready to execute prompts provided by signal providers. They are designed to help many traders with their trading by solving the difficulty associated with forex trading analyses. Several forex traders today, especially retail traders and newbie traders, subscribe to signal providers for trading signals. The projection is that these trading signals will save them from making wrong analyses and predictions that could cost them lots of dollars.  

 Suppose you are a beginner trader or just seeking ways to leverage the availability of forex signal providers. This article will discuss the top three forex signals with their origin- signal providers. Keep reading to find out more about the top three types of fx signals.

What are forex signals?

They are suggestions, prompts, indicators, or notifications about active forex trades in real-time. Essentially, they tell you when to execute a trade-buy or sell. They also give suggestions about stop losses and take profit and other trading essentials. Expert human traders or robots provide these signals. And the providers value them at specific prices, while others are free. Usually, the signal provider charges a certain percentage of the beneficiary’s profit. Therefore, the subscriber to the signal service provider gets the notification through SMS, email, or social media platforms –social trading.

Why traders use forex signals

The forex market is replete with high volatility. As a result, several traders consistently blow their accounts. Therefore many traders view trading signals as a reasonable solution to mitigate huge losses on their trading accounts. Similarly, newbie or inexperienced traders also subscribe to signal providers to assist them with trading analysis.

Are forex signals worth the hype?

Most traders prefer to run their trading analyses and predictions on their own. In comparison, other traders might feel uncomfortable taking signals from providers without proven credibility, especially among more experienced traders. When people stake real money in real-time, there is a high tendency to engage in emotional trading. In which case, they seem to be under pressure to close their trades on huge profits. Then they begin to increase their lot sizes indiscriminately, which easily leads to the end of that reading account. From a systematic analysis, many traders start well, especially when they demo trade. However, launching a live account brings so many emotions in the open, causing them to trade unprofessionally. For this reason, many traders subscribe to trading signals besides the hassle of trying to run the trading analysis and predictions independently.

Top three types of forex signals

While several forex trading strategies are available, the types of trading signals are relative to the signal providers. Essentially, most forex trading signals stem from two primary strategies. Therefore, trying to choose a trading signal means choosing a signal provider and applying one or more strategies. Here are the top three signal providers that guarantee what people otherwise know as fx signals and a few trading strategies that may apply.

1. Learn 2 trade

It is one of the leading signal providers that guarantee its subscribers access to reliable fx signals. Learn2trade sends forex trading signals and other trading essentials like market analysis, trading suggestions, currency pairs, trade ideas, market news, etc. they have an automated technology that runs advanced analysis on several currency pairs (major and minor) including some exotic pairs too. Essentially, they operate like a small community of traders since they notify their subscribers of active trading signals through their telegram channel.

2. 1000pipbuilder

They are a premium site for providing signals to their subscribers. It is the product of one of the most skilled forex traders in time-Bob James. He is noted for his expertise in fundamental and technical analysis with a track record of successful trading. Because the company 1000pipbuilder.com is based in London, it focuses on signals related to the US, Asian, and European trading sessions. They charge a service fee of about $97 a month. And provide signals to the subscriber through SMS, email, and their telegram channel.

3.ForexSignals.com

This signal provider functions as a trading community, providing their subscribers with trading signals and an active community for mentorship and training.  They provide reading rooms for analyzing trading signals. Somewhat like a support group so that the subscribers can learn to eventually make trading analysis independently through the feedback on every trade.

Common trading strategies

some significant trading strategies that reflect the signals at work as provided by a signal provider include scalping, swing trading, following the trend, etc.

  • Scalping 

Signals due to scalping seek to place multiple trades with an aim to grab as many little profits as possible within a short time. The signals due to scalping must be implemented readily to make the most of the signal.

  • Swing trading

Signals due to swing trading are direct opposites of scalping. The reason is that while scalping deals with multiple trades within a short time, swing trading also known as momentum trading deals with larger price movements over longer periods. It means that such signals will cause a trade to remain open for a couple of days. As a result, no immediate danger accrues to the trading account unless left unattended.

  • Following the trend

A general beginner’s rule of thumb in trading is to never trade against the trend. It is powered by large market moves that are usually long-term. Usually, trades can last up to several weeks depending on what is trending in the global market.   

Are forex signals the same as copy trading?

Usually, people describe Fx signals and copy trading as the same thing. However, the subtle difference lies in their method of execution. With signals, you most likely will be doing the trading by yourself, using the signals from your provider. At the same time, copy trading works somewhat automatically by replicating the trading moves and results of the trader (human or robot) you are copying.

Telegram.forex: a handy tool for getting prompt forex signals

Telegram.forex is one of the readily available copy trading applications that assist traders with automatic access to trading results of professionals via their telegram channel. It is the perfect system for automating your trading and getting prompt fx signals through social trading. As a medium for social trading, it connects all your telegram channels and automatically replicates trading signals. The trading signals are easily understandable. 

FAQS: How are forex signals generated?

How are forex signals generated?

There are two primary ways of generating most fx signals. Either automatically or manually. The automatically generated signals are a result of the analysis of trading software. Professional traders program the trading software in synergy with code developers. At the same time, professional traders or analysts distribute the manually generated signals that analyze the market in search of trading opportunities. While the automatically generated signals leverage artificial intelligence and technology, the manually generated signals leverage human intelligence and ingenuity.

How to read fx signals?

Reading fx signals is essential to understanding its execution. As a result, the basic moves for forex trading include: stop loss, take profit, action, and current market price. Essentially, a basic knowledge of these trading moves leads to an increased understanding of the signal. And can help you easily spot out a forex trading scam in any event.

How do fx signals work?

Usually, the trade signals come as trade ideas or instructions that yu can use to make profitable decisions. These alerts are delivered via emails, SMS, and telegram channels. The subscribers can pick out the trading prompts for direct execution.