forex trading advice
When you do find free or paid forex signals providers via web searches, here are some of the problems you will encounter: Generally, there will be no explanation of how signals are generated or any type of written documentation to describe logic behind the signals. You will be dealing with a total black box signal system, with no examples provided. Everything you need to understand the signals and how they work is simply not provided. Based on the signals we saw in google searches, we suspect that the signals systems we found are based on technical indicators, or some kind of front for brokers or introducing brokers IBs, where you must open a brokerage account to “qualify” to get the signals. Remember that any signals based on technical indicators, pairs, or forex robots disguised as signals, or any human generated signals are just standard technical indicators and pairs, all of which have been proven to be ineffective, except for scalping a few pips here and there. We noticed a large number of daily forex signals providers websites that listed the pair, stop loss, and take profit, but the take profit numbers were always very close, like 20 25 pips away. Since the target prices are so close we would qualify this as scalping, and in many cases an unfavorable money management ratio, where the number of pips you are trying to make is roughly equal to the number of pips you risk. This will only benefit your broker in the long run because the money management ratio is barely 1. 5:1. We did not see any signals with “hold” recommendations based on long term trends, only where to exit or take profit repeatedly. Many of the daily forex signals providers services advertise email and SMS delivery of the signals, “get our signals on the go”.
forex demo
Futures, options, and spot currency trading have large potential rewards, but also large potential risk.
foreign currency exchange rate today
In currency trading you are always comparing one currency to another so forex is always quoted in pairs.
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forex trading advice