FOREX Signals Providers and my experience

FOREX Signals Providers and my experience

FOREX trading can be extremely stressful and time consuming. In fact 95% of traders lose money in its first year of trading Forex. Many people feel as if you are broker, commodities or securities dealer, they can come to FOREX and apply the same trading system and profit. This is where these people go wrong. Forex market extremely volatile market and the only one who can see huge market moves in a matter of minutes.

The failure rate so high for first year traders, many have taken to exchange signal providers. I can be the first to say that many of the FOREX signal providers are terrible. However, through my extended research I came across a few that do not work.

When using a FOREX signal service provider, they will usually send their signal via trading charting software, e-mail or SMS. I do not find it easy to get a signal, but I was not always able to take the signals over a single day job. This really frustrated me because the service I was using was making money with their signals, but I was always able to act upon the signals provided.

The easiest and most efficient way around this problem of not having access to a computer all day every day to find a service that provides signal updates through a mobile phone. Once the signal is received through a mobile phone via SMS, then you can contact the trading desk and perform a trade.

The only downfall with a decent FOREX signals provider is time that the signals can come in. Forex signals can come in every hour. If you are sound asleep at 3:00 and signal, or you will wake up and take the signal or miss a trade that may or may not make you money. However, this can work to your benefit from time to time in that missing a trade here and there can improve their position taking the signal at a later date.

Lastly, the selection of broker FOREX is important. Many Forex brokers offer 3 pip spreads on all majors, some are much higher. You will want to choose a reliable FOREX broker that provides you with the lowest spread. Many are about 3 pip spreads and very few of them have 1 to 2 pip spread, but they do not exist.

FX system ever decide to go with it, do not forget to discipline yourself and stick to his plan. One mistake many people make with Forex signals providers is that they use their services, then they can not bring themselves to take the signals. The key to making money in FOREX is a money management and discipline.




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