October 27, 2013

Forex Signals through Online Resources

Forex Signals

FX Market Leaders is one provider of forex signals. Their website is set up for U.K and Australian traders; however, anyone can use it to obtain signals. The programme in review is how to use their online resource to obtain trading alerts with regard to certain currency pairs. The tool is for major pairs only, where you can follow and copy the actions of market leaders. These leaders are technical analysts assessing the market for buy and sell signals. The service providing signals is supposed to answer your questions of when to trade, what to trade, and whether you buy/sell and at what price. The system is a three step process where you follow the signals, copy the data into your trading account, and then profit from the trade.

Forex Signals with FX Market Leaders

When you decide to use this system you will see short term trading signals on the page, which list pair, action, status, stop loss, take profit, and any comments. The pair is any of the major currency pairs. They appear in the forex signals table together so you can compare what each one says.

Remember your training before you use such a tool. If the action tells you to buy then you are buying the base currency and selling the quote currency. If it tells you to sell then you sell the base currency and buy the quote currency. The programme will always provide you with a stop loss point to put on the trade along with a take profit point. These are suggested rates to set your order to based on the forex signals. The stop loss or take profit option is just recommended. If you do your own research and find you do not like the tightness of the stop loss or take profit order you can choose a point that is less tight or that lowers the profit you gain should the position be closed due to the order in place.

The status area can say active, get ready, or closed. Active means the signal is in place alerting you that it is time to enter the market. Get ready is where you want to get ready to open a position, but the forex signals have not supported it yet. Lastly, if closed is in the line it means the time to get into the market is past and you must wait for new signals to trade on. There is a trade now button, which leads to FX Market Leaders own trading platform. You can also use your own platform by copying the information.

Forex Signals Sent via Text and Email

FX Market Leaders programme is designed to send you alerts on forex signals. This means if you are away from your desk you can get text or emails alerting you to a change in the market so you do not miss an opportunity.

Before you use these signals with real money, it is recommended to use a demo account and test out how well these analysts are able to provide indicators to trade. You never want to just jump in using someone else’s method as it might not be the best one out there.





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