Types Of Forex Signal Service

There are generally three types of forex signal services – SMS signals, Human automated signals, and EA automated signals. 

Three Common Types Of Forex Signal Services

Although SMS signals have been outdated and not many professional forex signal services are offering now, they are still some good services who are providing SMS as a form of delivering their forex signals. SMS signals are mostly tailored for middle aged men that are not familiar with technologies in the modern world. A major disadvantage of SMS Forex signals is that there's always a lag time in Forex signals delivery and between the process when you receive and execute the Forex signals. In the fast moving market of the currency exchange, a minute of delay would mean a difference in thousand of dollars. 

Secondly, we have human automated signals. Among the 3 general categories of forex signals, Human Automated Forex signals are said to be the most reliable of all. To further illustrate, human automated Forex signals are Forex signals that's delivered directly to your MetaTrader Trading platform – automatically. In contrast to the EA Automated Forex signals, it is being monitored and traded by real Forex traders. The only disadvantages of this type of Forex signal service is that it is always expensive to subscribe to one.

Finally, EA automated Forex signals was once the trend for many Forex traders. These Forex signals are being generated and traded by Forex Software – also known as Forex Robots. In essence, they are a set of rules that are being programmed into algorithms. When the market reaches certain predetermined conditions, a trade will be trigerred accordingly. In comparison to the Human automated signals, this particular Forex signals category is the least influenced by psychological hindrances. 

However, EA automated Forex signals are highly risky because they do not think like humans do and in many cases, your accounts may be blown even without knowing it. Furthermore, the market conditions keep changing and these EA will need to be constantly updated by their developer in order to produce long term profits. 

The Most Popular Type Of Forex Signal Service

The above are the 3 of the most common Forex signal services that you will find on the market, and while each of them may possess their respective pros and cons, I'm highly leaning towards Human Automated Forex Signals because the delivery process is faster and much more effiecient. Furthermore, we have to realized that we are buying on the experts opinions and experiences, and not a set of programming rules found in the EA Forex signals. I hope I have made my point here, and I wish you find in useful in your respective Forex trading adventures!

Tips That You Definitely Need To Know In Trading Forex

I am not writing this to talk about general knowledge such as definitions of forex, or learn about fibonacchi, or moving averages. I am not telling you the technical tools you need to learn in forex, instead I will talk about the only one and most important thing you need to know - be profitable in forex trading!

Well, that could be a dream to everybody, staying at home and earning decent income, bank in money while watching champions league, but how many Forex traders are really gaining big money from forex? The majority are losers.

Strategy On Forex Trading Comeback

There are few killer tips you should know if you have just busted up your account. If you couldn’t trade well, so you must let the professionals to take the job. In order to leverage the power of experienced Forex traders – spend a little time to start looking for profitable forex signals. While decent Forex signal services can go anywhere from $200 to $10000 a month, not all Forex traders are able to invest that kind of money in addition to their trading capital. Another option, fortunately, is to look for free forex signals. In our following posts, we'll teach you how to find a genuinely profitable forex signal service and perhaps share some of them that we have personally tried. 

Until then, it is important that you first grasp the concept of Forex signals and how to effectively utilize them in your Forex trading journey.

Forex Signals

Unlike stocks market, Foreign Exchange trading is rather dependent on global economic news and events. Traditionally, one piece of great news from major economies like U.S can shake the market, and that is one of the reasons why unless you are trading full time, do not commence Forex scalp trading with tight stop losses, because you can easily be taken out by the cruel Forex market if you are not aware of the forex news. Having that said, when you are subscribed to professional Forex signals, the expert Forex traders will be monitoring the market conditions for you round the clock, and ultimately provide you with better trading decisions.

Another reason subscribing to Forex signals from professional Forex signal providers is to eliminate the psychological factor of your trading. Many amateur traders have extremely poor trading mindset which ultimately ruin their trading accounts. When a few stops have been hit, some of these inexperience traders always go for revenge trading – a phenomenom that trades against the market so that they could win back what was lost. Others cowered in fear and hesistancy, which consequently influence their trading decisions negatively, like getting out of the market too early, or enter a trade too late. 

They behave in this way because its their own hard-earned money, and they fear the lost of it. Have you realized that you always make more winners when you are trading demo accounts, but when it comes to a live forex trading account it is totally a different story? This is because you are under pressure, thus affecting your decision making process. So, imagine letting an experienced trader who have mastered trading psychology and inept in trading prowess – this is the power of forex signals.