If you are from those people who has researched the Forex on the web, will surely come across many sites that offer a signal service. This time will be explained in detail what this service does and how to identify which is useful to you or not.
As the word implies, these are signs that provide services, virtual enterprises that are dedicated to analyzing the forex market professionally. In simpler words these companies provide their customers with accurate indications of how and where to enter a position in the market for a profit (when buying or selling).
If you research on the web, there are hundreds of companies that provide these services and the value that the customer must pay starts at $ 30 to $ 900 monthly, depending on the company.
The service signal is:
Companies providing service in one or several daily updates of its market analysis and sent daily via email, forums, chats, via text message to your mobile phone, or through phone calls, signals to buy or sell to their customers.
Signals can be to open positions both long, medium and short term. And they can further include the directions exactly, economic news affecting the market, to justify or assure the reason for the signal sent. In other cases only send signals that could be any of the currency pairs that exist in the Forex market, although there are companies that work only with certain peers.
Usually tell you: how many lots should use the pair to use, enter that value (purchase or sale), that value to place your stop loss order and to what value to place your take profit. This is sent as if it were a formula and you should follow it fully. Remember you are responsible for operating each received signal and you should contact your broker to give indications of its operation on its own.
Example: Action (sale) + # + Lot Currency Pair + SL + TP
Each company offers different plans and conditions, including there who offer plans where they send daily signals at a certain time of day for example, sending signals every day from Monday to Friday at 8:00 am, or even a particular day of week week, depending on the needs and time availability to operate by the customer. But there are also companies that have no fixed schedule for market volatility.
Likewise, we offer gains ranging from 60 pips to 250 pips per signal sent.
How to know if this service will work for you?
In this issue, we can say that depends on two factors:
1. Its objectives and amount of time: There are hundreds of operators worldwide, of which some wish to devote himself to operate the forex, other part-time or free time and others who can not handle the pressure of the market that need support an expert.
So if your goal is to become an expert operator must constantly spend time and discipline, so the signal service would not be an option for you, since you will start your training as a professional trader, experiencing yourself in the market. If the opposite happens and aims to generate income, invest your money but without the pressure that you all depend on their results, or simply do not have enough time to devote to his training as an operator, then the signal service he be very supportive. Although you should always have the essential knowledge to operate.
2. The company that provides you the service: As mentioned earlier in this article, there are many companies that provide service signals, but it's like everything in business, some offer better services than others and stands the best results and present having good customer service.
Note that there are companies that provide wrong signals to the operators that offer these services without having much experience in the market. Still others have a poor system of communication with clients so they get delayed signals. There are even companies that do not have experts or analysts and traders still offer the service, but outsourcing to another company that gives them the signal service. This does not mean it's bad, because they could be signs with good results, but it would be better if there were people with experience back in the market to offer the service.
For these reasons it is always recommended that you investigate thoroughly the history and earnings history of the company that would provide the signal service. This means that you must scan at least 6 months of historical results of the company to ensure that the operator is not luck.
Must investigate what kind of trader is that the service will, as it may give short term and send 20 signals on a day which is not functional if the client works in another company or have little time. In this case you should seek the services of a company that will give longer-term signals or vice versa.
Remember that this will achieve good results and avoid surprises, because not only lose the value of the signal, but on a bad trade could lose a lot of capital to operate the market. Many companies give assurance of their signals and not others, so it is always recommended prior testing without risking much capital or even in demo accounts.
Forex University provides its clients the service of signs and support us 8 years of experience operating directly in the Forex market, with positive results. If you are interested in learning more about this service, please visit the following link:
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