Trading forex signals

Trading signals

Trading forex signals are regularly updated records on trades performed on the currency market. Such information enables a trader to realize when it is better to buy or sell a currency pair. Forex signals can provide information which could be sheer or less transparent. Therefore, if several Forex signals indicate a buy or sell decision, a trader is more likely to have a gainful deal.

Investors can certainly find out signals from economic-related news, support and resistance levels, and technical indicators. However, forex professionals develop signals themselves by means of their own technical analysis. An efficient combination of such signals represents a trading strategy.

What is the right way to use such signals in trading? There is no exact answer as some traders prefer to operate oscillators, others trade using the Fibonacci ratios, and somebody focuses on candlestick analysis. Importantly, the key to success is the use of reliable signals from professional traders. At the same time, it is essential to develop one’s own strategy for profitable trading.

On our website, a variety of forex trading signals from professional traders is available for free. These signals make up mainly strategies for day traders. Please be aware that our signals do not guarantee a fire-sure profitable trading as they might not suit your trading approach for different reasons. Forex signals are not able to trade instead of you. It means that you need at least basic knowledge about trading currencies.

How to use forex signals in trading?

First and foremost, it is essential to understand when exactly a trader should enter the market. This is one of the basic principles of a smart trading strategy. The right timing of a market entry ensures 70% of success in trading. Some signals can provide clues as to what direction a position should be opened. For example, if a signal moves upward, it makes sense to open a long position. If a signal moves downward, it is better to go short. Another recommendation is to trade several currency pairs as it minimizes risks when a trader creates a portfolio for short-term investments.

A position should be opened after a breakout of hourly values of resistance and support levels that is indicated in signals. In other words, a new trading hour is going on, but a price in the previous hour closed above the level specified in the signals. It means that a trader can open a position toward a breakout. However, in case a market quote has grown by over 15 pips, a good decision is to set a pending “buy” order slightly above the support level, for instance 5-15 pips higher.

Moving averages are quite helpful indicators in technical analysis. For instance, if a price breaks out an hourly moving average, it signals the time is ripe for opening a position. Besides, if you set stop loss orders sensibly your potential losses will be trimmed to the bone.

Trading could be badly affected by the sideways trend in the market. In this case, after a signal is triggered it is recommended to open a position without setting stop loss. When a price moves in the opposite direction a position can be doubled at the next level of support or resistance. If trading is carried out in the flat market, a position can be doubled a few times, starting with a small lot.

Currency PairTime FrameCostPositionSLTP
Currently no recommendations on selected trading instrument and period are available
কোনো ঝুঁকি ও বিনিয়োগ ছাড়াই ট্রেডিং শুরু করুন
$1000 এর নতুন স্টার্টআপ বোনাস ব্যবহার করে
Get bonus
from InstaForex
on every deposit
Earn up to
for inviting friends to get StartUp Bonus from InstaForex
No investments required!