Nowadays, trading signals are an integral and essential part of a trading process on Forex. Without a well-timed reaction on different types of signals, the right and profitable trading on Forex exchange is almost impossible which means worse results when using Forex profitable trading strategies, e.g Forex one hour trading strategies etc. In order to avoid it, trading signals offer a special advantage – they support self-regulation of all actions of the market.
Under no circumstances should traders neglect trading signals and Forex technical analysis as exactly with their help it is way easier to make decisions for this or that trade.
2 Ways of Reactions on Signals
- a trader can wait for a certain notification about the future price movement;
- a trader can predict this price movement;
We would like to make an emphasis on a second point because in the first one, in 90% of cases investors experience failures because of high risk level. Whereas the second method is more preferable and right. Using all possible and impossible trading methods, one can predict the price movement direction very precisely or as minimum set a future price corridor.
You should admit that it considerably increases the possibility of receiving a high stable income. Signals always come to help in difficult situations when predicting the price movement on the market. For determining the price closing- candle charts are used because their signals give an opportunity to monitor the price movement for market assets every hour from the very beginning of the process.
In one-hour charts, there is also a chance to set where the price will be during the position closing. Of course, there happen unpredictable situations like price reverses which cannot be always predicted. In this case, more difficult methods of technical analysis are used.
Apart from signals for opening and closing, there are other market signals such as, for example, measurements in economics etc.
How Much do Trading Signals Cost?
At the moment, there is a big number of ads in the Internet regarding trading signals which are used in Forex. The offers sound pretty attractive especially considering the fact that professionals trade and you get all the profit. And all this is just for $50 a month.
Yet don’t buy everything you see. First of all, check what kind of trading signal it is as well as how it is transferred from a signalman to a trader. And finally, find the best signalman in order to use only his signals in the future thus making sure that they are the best.