Since the Forex market saw an unprecedented boom in popularity as a method of investment as well as a general method to make money on the internet, many new strategies have been developed to help traders just like you make the most money possible while minimizing risk in trading. Among various types of technical analysis, fundamental analysis and software programs, one of the most widely used strategies that expert traders use in Forex are automatic trading signals.
What Are Forex signals?
Signals can be defined simply as indicators, delivered by email, SMS text message, pop-up software or in a website’s membership area which tell a trader when to buy or sell a currency pair & why. They can be generated a number of ways, including but not limited to an automated robot which analyses and follows trends using an advanced computer system, a group of experienced traders who, based on market expertise, are able to predict market movements or, sometimes, by a “trend tracking” software program which follows trends for traders in order to predict the pivot points of select currency pairs.
Are Forex signals effective?
This is a very common question and the truth is that no answer is universal. Yes, there are many services which produce accurate and profitable indicators most of the time. On the same note, some have an accuracy rating of below 65%, making them ineffective at best or, in some cases, even a possible scam system.
While there isn’t a holy grail Forex signal service, there are some which are much more profitable than others. Forex Automoney is offering a trial of their automatic trading signals for only $4.95, compared to the $149 charged upfront by comparable trading systems.