Forex Preceptor

The key to becoming a successful forex trader is knowing when you should buy and when you should sell a specific currency.  One useful tool that can help you with your decisions on when to buy and sell currencies that are traded on the foreign exchange market are forex signals.

It can be difficult, in particular for part time forex investors, to have enough time for keeping up to date on all of the price movements and current market trends for the different currency pairs.  Many forex brokers and firms offer signals services to help you stay alerted.  They offer subscription services where you can sign up to receive daily forex signals.  A subscription service can save you many hours of research time and provide you with the latest professional and up-to-date information that is critical for making successful and profitable forex trades.

Forex signals provide you with recommendations for the best times to buy and sell currency pairs.  Professional researchers at the brokerage houses monitor forex markets around the clock and analyze up to the minute market trends and currency pair price movements.  The signal service will provide you with all the most current information on what is happening in the foreign exchanges and with the currency pairs.

Here’s an example of what you could expect from a forex signal provider:

What a week! EUR/USD has rallied hard against most fundamental expectations, causing many to re-evaluate what these latest bullish signals mean for the long-term. The trend is up. Looking for buying opportunities. Consider buying a sustained break of 1.4615 or a dip with candlestick confirmation to support above 1.4500. At 1.4500 targets are 1.4555 and 1.4615. With a break above 1.4615 look for 1.4660 and 1.4695.

Many will also provide charts showing the most recent activity related to the signal.

Click to Enlarge

A signal provider will normally send you several signals each day.  You can expect a good forex signal service to cost around $100 a month.  You can receive your signals through instant messenger, text messages to your cell phone, via email or even as pop ups on your computer.

Before you commit to a monthly subscription with a signal provider, you should sign up for a free trial first to make sure that the service will provide you with the quality and type of information that you are looking for to help you make profitable forex trades.  If the particular forex signal provider doesn’t offer a free trial, keep looking.  Reputable services all offer free trials.

A monthly subscription to a signal service will save you many hours of research time.  You will receive information that is researched by professionals and delivered to you in a timely and convenient manner.  Although your subscription may cost around a hundred dollars a month, the amount of time you save as well as the up-to-date information you receive can make this type of service very worthwhile for you.

If you are just starting out and money is an issue, you can look for websites that provide free forex trading signals. These tend to offer the same automated forex signals that other providers send out. However, you shouldn’t expect them to be as in depth or as timely as you would get from a paid service.

As useful as forex signals are, you should not base your trading decisions solely on the signals.  Use all that you have learned through fundamental and technical analysis, as well as the other tools you have at your disposal to make your final trading decisions.

Related posts:

1. Forex Signals Free Trial – How to Get Forex Signals Free