What are Forex Trading signals?
What are Forex Signals? What do trading signals look like? What types of Forex signals are there? What should be considered when choosing a Forex signal provider? Learn2Trade is the best Forex signal provider.
Forex trading can be much more difficult than you think. The whole job is to watch the market, buy cheap and sell more expensive. Unfortunately, not all of us are financial experts, and there is also a risk of losing money, which makes life especially difficult for novice traders.
Fortunately, the Internet is a huge database that can greatly facilitate entry into the world of trading and investing. In recent years, Forex trading signals have become extremely popular, which are nothing more than advice on what to buy and when to sell. In this article, you will learn what Forex signals are, what types of signals there are, whether it is safe to use such recommendations, and what Forex signal providers exist.
If you have not yet chosen a brokerage company, we recommend that you look at our rating of Forex brokers with real reviews of traders.
What are Forex Signals?
Forex signals are trading ideas that indicate market trends in real time. Trading signals are used by both beginners and professional traders. Most Forex signals include the type of buy or sell position, as well as take profit and stop loss levels.
Forex signal providers usually send them to their subscribers via SMS, email, Skype and various special applications. There are also telegram channels of Forex signals.
What do Forex signals look like?
As a rule, trading signals provide the following information:
- Buy / To sell. In most cases, this is a signal that offers to "Buy" or "Sell" a financial asset.
- Entry price. This is the price at which it is necessary to enter into the transaction. Subscribers can compare the price of a currency pair at the time of the signal appearance with the actual price at the time of the order opening.
- Stop loss. The stop loss in the signal is necessary to provide protection in case something goes wrong.
- Take profit. Take profit captures the profit on the transaction when the price reaches a certain level.
What types of Forex signals are there?
- By type of automation:
- Manual. You can receive trading signals from traders, online communities and social networks such as Twitter, Facebook and Telegram, and manually open trades yourself in your broker's terminal.
- Automatic. Such signals are published by providers and copied automatically for a fee. You can set the rules for copying: amount, percentage, ratio, etc.
- By payment type:
- Free. You get information about current market trends for free. These can be trading signals from Forex bloggers to attract new subscribers on social networks and brokerage companies to encourage you to create an account on their platform. Often you will be able to access the signals only after making a deposit. It can also be a trial version of some paid service to make sure that trading signals really work and bring profit.
- Paid. There are companies that specialize in analyzing market information in order to sell their signals to traders who do not have time for such an analysis. There are a lot of good analysts, but before you pay, first check the results of the signal service and read the reviews.
- By duration:
- Long-term. Duration of transactions compit takes from one day or more.
- Medium-term. All transactions are closed during the day.
- Short-term. Small time transactions (scalping).
What should be considered when choosing a Forex signal provider?
There are thousands of signal providers on the market. However, very few of them are able to fulfill the promises they offer. Don't forget that no signal provider can guarantee 100% accuracy. Ultimately, no one can predict the future, as Forex markets often act unpredictably.
Of course, this does not mean that you cannot earn money on Forex. Experienced analysts and traders with experience can make forecasts of currency pairs as accurately as possible. But at the same time, it should be remembered that they are also not immune from mistakes.
With that said, below are some considerations that need to be taken into account before registering with the Forex signals service:
- Payment. First of all, you have to estimate how much a Forex signal provider will cost you.
- Free trial version. It is important that the signal provider provides a trial version that will allow you to test the product for free first.
- Types of currency pairs. Some Forex signal providers specialize in certain trading pairs, such as GBPUSD or EURUSD.
- Alerts and notifications. Trading signals should arrive quickly and in advance so that you can have time to open a deal on your terminal.
- Reputation and efficiency. You will never know how effective a Forex signal provider is until you try it yourself. Never rely on someone else's opinion.
Look like thisthe same list of the best Forex brokers.
How to identify fraudsters among Forex signal providers?
It is necessary to learn how to identify scammers who are trying to make money by selling trading signals. You can use the following recommendations for yourself:
- Services with unrealistically good and untested results are almost guaranteed to be fraudulent.
- Also scammers are those signal providers who offer to invest on your behalf for your money.
- If the supplier uses various intrusive and misleading methods of promotion, this should also arouse suspicion.
- If you feel that something is wrong with your signal provider, just forget about its services and choose another provider.
Learn2Trade – The best Forex signals in Telegram
Learn2Trade is one of the most well-known and reputable providers of trading signals in the online space. Learn2Trade signals are based on advanced technical and fundamental research conducted by a team of experienced traders. Once a trading opportunity is identified, Learn2Trade sends a signal via Telegram. These signals provide everything you need to know to start trading.
For example, a signal may tell you to place a sell order for EURUSD at a specified price. The Learn2Trade signal will also tell you which take profit and stop loss orders you need to place so that you don't take risks when trading. The main attraction of choosing signals compared to Forex robots is that you are in full control of your funds.
As for assets, Learn2Trade mainly specializes in automatictrading currency pairs and cryptocurrencies. However, the provider also sends signals related to stocks, gold and indices.
If you think Learn2Trade sounds good, but want to try it first, the provider offers 3 free signals per week. In addition, you can choose a Premium account with a 30-day money-back guarantee, which will give you 2-3 signals per day with a 76% success rate. A premium account costs £35 per month, although you can reduce this amount by signing up for a longer plan.
The Learn2Trade signal looks like this:
- Asset: EURAUD
- Order: Buy
- Entry price: 1.5573
- Take profit: 1.5609
- Stop loss: 1.5502
As soon as you receive a real-time signal via Telegram, you need to contact your chosen broker and place the proposed orders.
RoboForex is the best broker for trading Forex signals
It is important to note that Learn2Trade has been actively working with trading signals and automated strategies for several years, but also has a Telegram group with more than 40,000 members. Finally, it is worth visiting the Learn2Trade website, where you will find hundreds of free educational manuals and courses.
Advantages:
- a leading provider of automated trading signals for various markets;
- more than 40,000 members in the Telegram group;
- 3 free signals per week;
- 2-3 premium signals per day;
- protective stop loss and take profit orders are provided;
- 30-day money back guarantee;
- free training resources.
Disadvantages:
- there is no fully automatic trading software, so you have to react to every signal.
Go to the Learn2Trade website
Conclusions
Thus, Forex trading signals allow you to successfully trade on the currency markets without knowledge and experience. You also save time on conducting daily technical analysis. In fact, Forex trading turns into passive income. It is important to remember that even the best signal provider will not be able to protect you 100% from losses. Therefore, first you should look for free Forex signals and try them on a demo account. If the trading signals justify themselves, then you can subscribe and switch to a real account.
Read also the article "What are Forex graphic Patterns".