Forex signals are trade suggestions provided either by professional human analyst or an automated trading robot. They point to specific currency pairs, and usually include a buy or sell price, take profit and stop-loss figures. Since these trade ideas are meant to be executed in real time, they are time-sensitive, and are typically sent by email, SMS, RSS, Tweet or copied directly to user's trading platform.
Benefits of subscribing to forex signals
Seasoned forex traders and novices alike can benefit from a reliable trading signals service. Forex signals can suggest trading ideas that you might otherwise overlook. If you are mostly a technical trader, you can increase your success rate by following signals based on economic news analysis. If you follow the fundamentals, then trading signals based on the combination of indicators and chart patterns can add precision to your trades. Auto-trading has the advantage of removing the psychological factors, which often lead to forex trading mistakes. Let's also keep in mind the educational aspect – many forex signal providers offer coaching, access to community forums, and educational resources.
Forex Signals Tests by Forex Peace Army eliminate Forex Signals Scam
Forex Peace Army offers you detailed analysis of commercially available (paid) forex signals. All tests are Forward tests on Live accounts with $250 minimum initial account balance. Stats are pulled directly from the broker account. This leaves no room for the common forex signals scams like fake statements, over-optimized back tests, or demo account stats which show the trades that would never be executed the same way on the real accounts.
Should the test fail, same forex signals provider needs to double the initial deposit amount to restart the test at Forex Peace Army. This is normal for signal providers to update, upgrade, and fix their strategies, but ForexPeaceArmy's position is that providers must be confident in their forex signals and risk their own money together with the traders who purchase their signals.
Best Forex Signals that work
So, go ahead, look through Forex Peace Army Performance Tests to find the signal services that best fit your investment goals and risk tolerance. If you are a forex signals provider, we encourage you to add your signals to Forex Peace Army Performance Tests, and get exposure to a large community of traders/investors, while adding credibility to your trading performance results.