Where Can I Get Forex Signals

Ask any seasoned forex trader and they will tell you the same thing: timing is everything.

Getting into - or out of the market - at the right time is the surest way to maximize profits and minimize losses. Knowing ahead of time when the market is about to move is the holy grail of the forex trader. Indeed, knowing when to buy and sell is the very essence of what makes the successful forex trader, and any tool that can provide that extra edge is therefore to be welcomed.

It may well be a cliché now, but knowledge is power. and for the forex trader this knowledge, in part at least, comes in the form of forex signals, alerts of market movements with prompts to buy and sell. In the rapidly changing landscape that is the forex, it’s vital that these signals are, quite literally, on the money.

But which to choose when there are literally hundreds of forex signals services around offering real time data on trades and trends within the market?

Many companies offering forex signals are subscription based. However, it is possible to get free forex signals as they are often bundled in when you open a trading account. The caveat here is that you are likely to find free forex signals are only included with full or pro trading accounts that are more costly to set up and manage than the more limited ‘mini’ trading accounts.

Also, most of the free forex signals on offer track only the four major trading pairs (eur/usd, usd/jpy, gbp/usd and usd/chf), anything more exotic and you’ll have to look elsewhere.

Costs vary for subscription based services. A basic service will offer email notifications of entry and exit opportunities while more comprehensive offerings will incorporate the option to be informed by a variety of means including sms, cell phone or pager. More advanced features will normally include live data charts.

Bear in mind, though, forex signals are not surefire copper bottomed routes to profits. At best, their goal in providing entry and exit points is to help the forex trader emerge with more profits than losses over the long term. Measuring the success of a forex signals service should therefore not been carried out in isolation or over a relatively short period of time. Acting on the information supplied is, of course, entirely at the trader’s own discretion subject to their personal stop or risk/reward strategies.

But regardless of the number of whistles and bells attached to your forex signals, the chances of making a winning trade will be greatly enhanced by possessing a good grounding in the market drivers and a thoroughly thought out game plan that you adhere to.