Been getting PM's about how I trade without looking at charts. So here it is guys.submitted by EvidenceRemote to Forex [link] [comments]
Say EUUSD is down -0.20% and -20 pips on D1 and -0.15% and -15 pips on H8. I now have a trade opportunity because I know two things. The price is low and the price is starting to go back up. I can buy.
TP/SL is simple. I'm aiming for zero and I take a long position. 15 pips for TP & SL and size my lot according to my risk management tolerance. Since Forex ranges more than it trends I know odds are I made the right trade. I don't touch the trade and it'll close with a profit or loss. When that happens I repeat the process having never looked at a chart.
To demonstrate here are a few charts as I get most are thinking I'm crazy. But this is what you're doing when you follow the trend. Hoping for uncharted territory to make a profit.
Here's what you're doing when you aim for zero. Buying low, selling high & selling high, buying low. Price almost always will go back to the middle which takes all the guess work out of trading.
If your profits depend on prices flying off into the vast unknown you're not going to make money because that's not going to happen often enough. If your profits depend on prices that happened just hours ago there's a much better chance people will want to make a deal at that price again.
Try it out. Trading really is as simple as buy low sell high. But you're not buying low and selling high when you follow a trend. Then you're buying high and hoping it goes into uncharted territory.
Reddit peps, I have a confession. Over the last while I've been kinda fudging results of trades tracked to give the appearance of worse performance than is actually achieved. Here's why.submitted by 2020sbear to u/2020sbear [link] [comments]
See, I've wanted for such a long time to bring out the honesty in those who put so much effort into slandering me here on Reddit. To give them the opportunity to track results that are transparent and post them. It'd let them do what they claim, which is to show people the truth of my trading results. They've been very resistant to this.
First I tried to do it in the fairest and most objective way lettting them have demo accounts under their control that I could not manipulate and just copy over trades to them. I offered full access to my accounts and my only condition was that they share the resuts. I tried a few variations of this and it didn't work. So I moved onto less conventional ideas.
I started to set up accounts, link tracking and then bomb them (Or part bomb them and stop updating results and try to recoup some of my losses on the bigger ones). My theory was if I bomb a few accounts, they'll then post the links. These are "hot links" and I can change the accounts attached. So I'd let them post some links and then add some accounts to trade properly.
Then either they can have the links they posted showing the truth (Thier stated goal) or they can delete the links when the trades are shown to be profitable and .. well, we get the truth one way or the other. It's my theory most of the posts making dubious claim about me a) Come from one person. b) Come from someone who would not embrace an honest test. I've positioned to test this.
The other day I got what I was waiting for. They posted the links from one of the more active of the alt accounts they use.
Here is the link to this. It is currently up. If it is not there when you click it. "Deleted by user", that's the truth for you. https://www.reddit.com/SPXsignals/comments/ja8mug/rspxsignals_lounge/
Once this step was done I turned back on the comments on my posts. I needed a litte more and for me to get that I needed to get some comments on the go. Predicably enough, along comes an alt. A new one this time. This alt tells me they have nothing to do with the poster in the image above.
Then alt 2 made the same post on a thread I made and then everything was set. Time to break cover.
Within 10 seconds of me posting this, the comment was deleted. That's why I took screenshots before I said it.
Then our fresh faced alt steps up with the copy and paste of the exact same post. Link is currently live. I won't delete it, we'll see if it stays there. https://www.reddit.com/use2020sbeacomments/jh7npb/telegram_channels/g9yqq12/?utm_source=reddit&utm_medium=web2x&context=3
I'll let you draw your own conclusions on all of that.
Here were the last updated results of the linked acounts. This was what it took to get them to post the links.
Here are the applicable lnks;
I'll leave these as they are for a little while (About 12 hours from now). If you check the trade history of these accounts vrs my posting history you'll see none of the losses made were from trades I posted. Actually sometimes I inverted the trades I posted to generate losses. You can see this in the "History" tab and of course you know how to see my Reddit posts.
Heading into Monday I will attach new accounts to this and we can then run phase two of the test. I could just upload accounts already running and proftable to this, but I think it's best to do everything in real time and in the open. From now on I will be trading the same positions as I post and tracking the results of these.
You can find these results at the links above as of Monday.
Now I'll trade and track results properly and we get to do a proper experiement into the real motives and nature of everyone involved. I've said it for months, the truth of people will be revealed by their own actions. Just a case of waiting untl the time is right. From now on I'll only trade the things I post in my subs/forum. No messing about. If they bomb this time, I suck. If not, let's see what happens :)
Thanks to everyone who responded to the previous pieces on risk management. We ended up with nearly 2,000 upvotes and I'm delighted so many of you found it useful.submitted by getmrmarket to Forex [link] [comments]
This time we're going to focus on a new area: reacting to and trading around news and fundamental developments.
A lot of people get this totally wrong and the main reason is that they trade the news at face value, without considering what the market had already priced in. If you've ever seen what you consider to be "good" or "better than forecast" news come out and yet been confused as the pair did nothing or moved in the opposite direction to expected, read on...
We are going to do this in two parts.
IntroductionKnowing how to use and benefit from the economic calendar is key for all traders - not just news traders.
In this chapter we are going to take a practical look at how to use the economic calendar. We are also going to look at how to interpret news using second order thinking.
The key concept is learning what has already been ‘priced in’ by the market so we can estimate how the market price might react to the new information.
Why use an economic calendarThe economic calendar contains all the scheduled economic releases for that day and week. Even if you purely trade based on technical analysis, you still must know what is in store.
Why? Three main reasons.
Firstly, releases can help provide direction. They create trends. For example if GBPUSD has been fluctuating aimlessly within a range and suddenly the Bank of England starts raising rates you better believe the British Pound will start to move. Big news events often start long-term trends which you can trade around.
Secondly, a lot of the volatility occurs around these events. This is because these events give the market new information. Prior to a big scheduled release like the US Non Farm Payrolls you might find no one wants to take a big position. After it is released the market may move violently and potentially not just in a single direction - often prices may overshoot and come back down. Even without a trend this volatility provides lots of trading opportunities for the day trader.
Finally, these releases can change trends. Going into a huge release because of a technical indicator makes little sense. Everything could reverse and stop you out in a moment. You need to be aware of which events are likely to influence the positions you have on so you can decide whether to keep the positions or flatten exposure before the binary event for which you have no edge.
Most traders will therefore ‘scan’ the calendar for the week ahead, noting what the big events are and when they will occur. Then you can focus on each day at a time.
Reading the economic calendar
Most calendars show events cut by trading day. Helpfully they adjust the time of each release to your own timezone. For example we can see that the Bank of Japan Interest Rate decision is happening at 4am local time for this particular London-based trader.
Note that some events do not happen at a specific time. Think of a Central Banker’s speech for example - this can go on for an hour. It is not like an economic statistic that gets released at a precise time. Clicking the finger emoji will open up additional information on each event.
Event importanceHow do you define importance? Well, some events are always unimportant. With the greatest of respect to Italian farmers, nobody cares about mundane releases like Italian farm productivity figures.
Other events always seem to be important. That means, markets consistently react to them and prices move. Interest rate decisions are an example of consistently high importance events.
So the Medium and High can be thought of as guides to how much each event typically affects markets. They are not perfect guides, however, as different events are more or less important depending on the circumstances.
For example, imagine the UK economy was undergoing a consumer-led recovery. The Central Bank has said it would raise interest rates (making GBPUSD move higher) if they feel the consumer is confident.
Consumer confidence data would suddenly become an extremely important event. At other times, when the Central Bank has not said it is focused on the consumer, this release might be near irrelevant.
Knowing what's priced inNext to each piece of economic data you can normally see three figures. Actual, Forecast, and Previous.
Once you understand that markets move based on the news vs expectations, you will be less confused by price action around events
This is a common misunderstanding. Say everyone is expecting ‘great’ economic data and it comes out as ‘good’. Does the price go up?
You might think it should. After all, the economic data was good. However, everyone expected it to be great and it was just … good. The great release was ‘priced in’ by the market already. Most likely the price will be disappointed and go down.
By priced in we simply mean that the market expected it and already bought or sold. The information was already in the price before the announcement.
Incidentally the official forecasts can be pretty stale and might not accurately capture what active traders in the market expect. See the following example.
An example of pricing inFor example, let’s say the market is focused on the number of Tesla deliveries. Analysts think it’ll be 100,000 this quarter. But Elon Musk tweets something that hints he’s really, really, really looking forward to the analyst call. Tesla’s price ticks higher after the tweet as traders put on positions, reflecting the sentiment that Tesla is likely to massively beat the 100,000. (This example is not a real one - it just serves to illustrate the concept.)
Tesla deliveries are up hugely vs last quarter ... but they are disappointing vs market expectations ... what do you think will happen to the stock?
On the day it turns out Tesla hit 101,000. A better than the officially forecasted result - sure - but only marginally. Way below what readers of Musk's twitter account might have thought. Disappointed traders may sell their longs and close out the positions. The stock might go down on ‘good’ results because the market had priced in something even better. (This example is not a real one - it just serves to illustrate the concept.)
SurveysIt can be a little hard to know what the market really expects. Often the published forecasts are stale and do not reflect what actual traders and investors are looking for.
One of the most effective ways is a simple survey of investors. Something like a Twitter poll like this one from CNBC is freely available and not a bad barometer.
CNBC, Bloomberg and other business TV stations often have polls on their Twitter accounts that let you know what others are expecting
Interest rates decisionsWe know that interest rates heavily affect currency prices.
For major interest rate decisions there’s a great tool on the CME’s website that you can use.
See the link for a demo
This gives you a % probability of each interest rate level, implied by traded prices in the bond futures market. For example, in the case above the market thinks there’s a 20% chance the Fed will cut rates to 75-100bp.
Obviously this is far more accurate than analyst estimates because it uses actual bond prices where market participants are directly taking risk and placing bets. It basically looks at what interest rate traders are willing to lend at just before/after the date of the central bank meeting to imply the odds that the market ascribes to a change on that date.
Always try to estimate what the market has priced in. That way you have some context for whether the release really was better or worse than expected.
Second order thinkingYou have to know what the market expects to try and guess how it’ll react. This is referred to by Howard Marks of Oaktree as second-level thinking. His explanation is so clear I am going to quote extensively.
It really is hard to improve on this clarity of thought:
First-level thinking is simplistic and superficial, and just about everyone can do it (a bad sign for anything involving an attempt at superiority). All the first-level thinker needs is an opinion about the future, as in “The outlook for the company is favorable, meaning the stock will go up.” Second-level thinking is deep, complex and convoluted.
He explains first-level thinking:
The first-level thinker simply looks for the highest quality company, the best product, the fastest earnings growth or the lowest p/e ratio. He’s ignorant of the very existence of a second level at which to think, and of the need to pursue it.
The above describes the guy who sees a 101,000 result and buys Tesla stock because - hey, this beat expectations. Marks goes on to describe second-level thinking:
The second-level thinker goes through a much more complex process when thinking about buying an asset. Is it good? Do others think it’s as good as I think it is? Is it really as good as I think it is? Is it as good as others think it is? Is it as good as others think others think it is? How will it change? How do others think it will change? How is it priced given: its current condition; how do I think its conditions will change; how others think it will change; and how others think others think it will change? And that’s just the beginning. No, this isn’t easy.
In this version of events you are always thinking about the market’s response to Tesla results.
What do you think they’ll announce? What has the market priced in? Is Musk reliable? Are the people who bought because of his tweet likely to hold on if he disappoints or exit immediately? If it goes up at which price will they take profit? How big a number is now considered ‘wow’ by the market?
As Marks says: not easy. However, you need to start getting into the habit of thinking like this if you want to beat the market. You can make gameplans in advance for various scenarios.
Here are some examples from Marks to illustrate the difference between first order and second order thinking.
Some further examples
Trying to react fast to headlines is impossible in today’s market of ultra fast computers. You will never win on speed. Therefore you have to out-think the average participant.
Coming up in part IINow that we have a basic understanding of concepts such as expectations and what the market has priced in, we can look at some interesting trading techniques and tools.
Disclaimer:This content is not investment advice and you should not place any reliance on it. The views expressed are the author's own and should not be attributed to any other person, including their employer.
Thanks for all the upvotes and comments on the previous pieces:submitted by getmrmarket to Forex [link] [comments]
Before you understand the core concepts of pricing in and second order thinking, price reactions to events can seem mystifying at times
We'll add one thought-provoking quote. Keynes (that rare economist who also managed institutional money) offered this analogy. He compared selecting investments to a beauty contest in which newspaper readers would write in with their votes and win a prize if their votes most closely matched the six most popularly selected women across all readers:
It is not a case of choosing those (faces) which, to the best of one’s judgment, are really the prettiest, nor even those which average opinions genuinely thinks the prettiest. We have reached the third degree where we devote our intelligences to anticipating what average opinion expects the average opinion to be.
Trading is no different. You are trying to anticipate how other traders will react to news and how that will move prices. Perhaps you disagree with their reaction. Still, if you can anticipate what it will be you would be sensible to act upon it. Don't forget: meanwhile they are also trying to anticipate what you and everyone else will do.
Preparing for quantitative and qualitative releasesThe majority of releases are quantitative. All that means is there’s some number. Like unemployment figures or GDP.
Historic results provide interesting context. We are looking below the Australian unemployment rate which is released monthly. If you plot it out a few years back you can spot a clear trend, which got massively reversed. Knowing this trend gives you additional information when the figure is released. In the same way prices can trend so do economic data.
A great resource that's totally free to use
This makes sense: if for example things are getting steadily better in the economy you’d expect to see unemployment steadily going down.
Knowing the trend and how much noise there is in the data gives you an informational edge over lazy traders.
For example, when we see the spike above 6% on the above you’d instantly know it was crazy and a huge trading opportunity since a) the fluctuations month on month are normally tiny and b) it is a huge reversal of the long-term trend.
Would all the other AUDUSD traders know and react proportionately? If not and yet they still trade, their laziness may be an opportunity for more informed traders to make some money.
Tradingeconomics.com offers really high quality analysis. You can see all the major indicators for each country. Clicking them brings up their history as well as an explanation of what they show.
For example, here’s German Consumer Confidence.
There are also qualitative events. Normally these are speeches by Central Bankers.
There are whole blogs dedicated to closely reading such texts and looking for subtle changes in direction or opinion on the economy. Stuff like how often does the phrase "in a good place" come up when the Chair of the Fed speaks. It is pretty dry stuff. Yet these are leading indicators of how each member may vote to set interest rates. Ed Yardeni is the go-to guy on central banks.
Data surprise indexThe other thing you might look at is something investment banks produce for their customers. A data surprise index. I am not sure if these are available in retail land - there's no reason they shouldn't be but the economic calendars online are very basic.
You’ll remember we talked about data not being good or bad of itself but good or bad relative to what was expected. These indices measure this difference.
If results are consistently better than analysts expect then you’ll see a positive number. If they are consistently worse than analysts expect a negative number. You can see they tend to swing from positive to negative.
Mean reversion at its best! Data surprise indices measure how much better or worse data came in vs forecast
There are many theories for this but in general people consider that analysts herd around the consensus. They are scared to be outliers and look ‘wrong’ or ‘stupid’ so they instead place estimates close to the pack of their peers.
When economic conditions change they may therefore be slow to update. When they are wrong consistently - say too bearish - they eventually flip the other way and become too bullish.
These charts can be interesting to give you an idea of how the recent data releases have been versus market expectations. You may try to spot the turning points in macroeconomic data that drive long term currency prices and trends.
Using recent events to predict future reactionsThe market reaction function is the most important thing on an economic calendar in many ways. It means: what will happen to the price if the data is better or worse than the market expects?
That seems easy to answer but it is not.
Consider the example of consumer confidence we had earlier.
One clue is to look at what happened to the price of risk assets at the last event.
For example, let’s say we looked at unemployment and it came in a lot worse than forecast last month. What happened to the S&P back then?
2% drop last time on a 'worse than expected' number ... so it it is 'better than expected' best guess is we rally 2% higher
So this tells us that - at least for our most recent event - the S&P moved 2% lower on a far worse than expected number. This gives us some guidance as to what it might do next time and the direction. Bad number = lower S&P. For a huge surprise 2% is the size of move we’d expect.
Again - this is a real limitation of online calendars. They should show next to the historic results (expected/actual) the reaction of various instruments.
Buy the rumour, sell the factA final example of an unpredictable reaction relates to the old rule of ‘Buy the rumour, sell the fact.’ This captures the tendency for markets to anticipate events and then reverse when they occur.
Buy the rumour, sell the fact
In short: people take profit and close their positions when what they expected to happen is confirmed.
So we have to decide which driver is most important to the market at any point in time. You obviously cannot ask every participant. The best way to do it is to look at what happened recently. Look at the price action during recent releases and you will get a feel for how much the market moves and in which direction.
Trimming or taking off positionsOne thing to note is that events sometimes give smart participants information about positioning. This is because many traders take off or reduce positions ahead of big news events for risk management purposes.
Imagine we see GBPUSD rises in the hour before GDP release. That probably indicates the market is short and has taken off / flattened its positions.
The price action before an event can tell you about speculative positioning
If GDP is merely in line with expectations those same people are likely to add back their positions. They avoided a potential banana skin. This is why sometimes the market moves on an event that seemingly was bang on consensus.
But you have learned something. The speculative market is short and may prove vulnerable to a squeeze.
Two kinds of reversalsFairly often you’ll see the market move in one direction on a release then turn around and go the other way.
These are known as reversals. Traders will often ‘fade’ a move, meaning bet against it and expect it to reverse.
Logical reversalsSometimes this happens when the data looks good at first glance but the details don’t support it.
For example, say the headline is very bullish on German manufacturing numbers but then a minute later it becomes clear the company who releases the data has changed methodology or believes the number is driven by a one-off event. Or maybe the headline number is positive but buried in the detail there is a very negative revision to previous numbers.
Fading the initial spike is one way to trade news. Try looking at what the price action is one minute after the event and thirty minutes afterwards on historic releases.
Some reversals don't make sense
Sometimes a reversal happens for seemingly no fundamental reason. Say you get clearly positive news that is better than anyone expects. There are no caveats to the positive number. Yet the price briefly spikes up and then falls hard. What on earth?
This is a pure supply and demand thing. Even on bullish news the market cannot sustain a rally. The market is telling you it wants to sell this asset. Try not to get in its way.
Some key releasesAs we have already discussed, different releases are important at different times. However, we’ll look at some consistently important ones in this final section.
Interest rates decisionsThese can sometimes be unscheduled. However, normally the decisions are announced monthly. The exact process varies for each central bank. Typically there’s a headline decision e.g. maintain 0.75% rate.
You may also see “minutes” of the meeting in which the decision was reached and a vote tally e.g. 7 for maintain, 2 for lower rates. These are always top-tier data releases and have capacity to move the currency a lot.
A hawkish central bank (higher rates) will tend to move a currency higher whilst a dovish central bank (lower rates) will tend to move a currency lower.
A central banker speaking is always a big event
Non farm payrollsThese are released once per month. This is another top-tier release that will move all USD pairs as well as equities.
There are three numbers:
In general a positive response should move the USD higher but check recent price action.
Other countries each have their own unemployment data releases but this is the single most important release.
SurveysThere are various types of surveys: consumer confidence; house price expectations; purchasing managers index etc.
Each one basically asks a group of people if they expect to make more purchases or activity in their area of expertise to rise. There are so many we won’t go into each one here.
A really useful tool is the tradingeconomics.com economic indicators for each country. You can see all the major indicators and an explanation of each plus the historic results.
GDPGross Domestic Product is another big release. It is a measure of how much a country’s economy is growing.
In general the market focuses more on ‘advance’ GDP forecasts more than ‘final’ numbers, which are often released at the same time.
This is because the final figures are accurate but by the time they come around the market has already seen all the inputs. The advance figure tends to be less accurate but incorporates new information that the market may not have known before the release.
In general a strong GDP number is good for the domestic currency.
InflationCountries tend to release measures of inflation (increase in prices) each month. These releases are important mainly because they may influence the future decisions of the central bank, when setting the interest rate.
See the FX fundamentals section for more details.
Industrial dataThings like factory orders or or inventory levels. These can provide a leading indicator of the strength of the economy.
These numbers can be extremely volatile. This is because a one-off large order can drive the numbers well outside usual levels.
Pay careful attention to previous releases so you have a sense of how noisy each release is and what kind of moves might be expected.
CommentsOften there is really good stuff in the comments/replies. Check out 'squitstoomuch' for some excellent observations on why some news sources are noisy but early (think: Twitter, ZeroHedge). The Softbank story is a good recent example: was in ZeroHedge a day before the FT but the market moved on the FT. Also an interesting comment on mistakes, which definitely happen on breaking news, and can cause massive reversals.
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|AMP||Broker with a huge number of platforms available including some with APIs|
|Arcade Trader||No API|
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|Backtrader||Not a data feed; otherwise looks cool but also looks like a one-man shop|
|Cannon Trading||Broker with a variety of platforms, some have API access such as TT|
|Charles Schwab||API does not support futures instruments|
|Daniels Trading||No API|
|Discount Trading||Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs|
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|ETrade||API seems robust but OAuth authorization needs to be refreshed via login once per 24 hours|
|Futures Online||No API|
|Gain Capital Futures||API available, based on .NET; unsure if they are open to retail clients|
|GFF Brokers||Broker with a large number of platforms including some with API access|
|High Ridge Futures||Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs|
|iBroker||API available; contact them for more info|
|IEX Cloud||Looks great but does not support futures instruments|
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|Interactive Brokers||Client Web API looks promising if clunky|
|Intrinio||Supports futures instruments but is expensive|
|Lightspeed||C++ API available|
|marketstack||API for equities available. Does not support futures instruments.|
|Medved Trader||Windows app with a streaming API to various data sources and brokers. See comment below about API beta access.|
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|Oanda||Forex only; API last updated in 2018|
|Optimus Futures||Broker with a large number of available platforms including some with API access|
|Phillip Capital||Broker with a large number of available platforms including some with API access|
|polygon.io||Expensive but looks slick; does not support futures instruments|
|Quandl||API looks solid; $49/monthly for personal use, does not allow distributing or sharing data; not a broker|
|Quantconnect||Does not expose raw data|
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|Quantower||Software that connects to multiple brokers and data feeds; API to their software via C# interface|
|Saxo Markets||Broker with extensively documented API|
|Stage 5 Trading||API available through Trading Technologies|
|Straits Financial||Broker with several platforms available including some with APIs such as CQG, R|
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|TastyWorks||There's an unofficial Python API|
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|Tradier||Free developer API account for delayed data but does not support futures instruments|
|TradeStation||Nice looking API docs and supports futures instruments; requires opening an account and a minimum balance of $100k and there’s no trial available|
|TradeFutures4Less||Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs|
|TradingTechnologies||API looks robust; pricing starts at $700/month|
|TradingView||Does not expose data API|
|Tradovate Technologies||API exists, documentation unknown; need to talk to their account team|
|Wedbush Futures||Broker with several platforms offered, a few of which have API access|
|WEX||.NET/COM only; pricing not disclosed on website|
|Xignite||Pricing not disclosed on website but they do support futures instruments|
|Yahoo Finance API||Available through RapidAPI or via direct access; but it’s discontinued and unreliable|
|Zaner||Broker with a variety of platforms including CQG, Rithmic, TT, some with APIs|
submitted by kayakero to makemoneyforexreddit [link] [comments]
Forex Signals - TOP Best Services. Checked!To invest in the financial markets, we must acquire good tools that help us carry out our operations in the best possible way. In this sense, we always talk about the importance of brokers, however, signal systems must also be taken into account.
The platforms that offer signals to invest in forex provide us with alerts that will help us in a significant way to be able to carry out successful operations.
For this reason, we are going to tell you about the importance of these alerts in relation to the trading we carry out, because, without a doubt, this type of system will provide us with very good information to invest at the right time and in the best assets in the different markets. financial
Within this context, we will focus on Forex signals, since it is the most important market in the world, since in it, multiple transactions are carried out on a daily basis, hence the importance of having an alert system that offers us all the necessary data to invest in currencies.
Also, as we all already know, cryptocurrencies have become a very popular alternative to investing in traditional currencies. Therefore, some trading services/tools have emerged that help us to carry out successful operations in this particular market.
In the following points, we will detail everything you need to know to start operating in the financial markets using trading signals: what are signals, how do they work, because they are a very powerful help, etc. Let's go there!
What are Forex Trading Signals?https://preview.redd.it/vjdnt1qrpny51.jpg?width=640&format=pjpg&auto=webp&s=bc541fc996701e5b4dd940abed610b59456a5625
Before explaining the importance of Forex signals, let's start by making a small note so that we know what exactly these alerts are.
Thus, we will know that the signals on the currency market are received by traders to know all the information that concerns Forex, both for assets and for the market itself.
These alerts allow us to know the movements that occur in the Forex market and the changes that occur in the different currency pairs. But the great advantage that this type of system gives us is that they provide us with the necessary information, to know when is the right time to carry out our investments.
In other words, through these signals, we will know the opportunities that are presented in the market and we will be able to carry out operations that can become quite profitable.Profitability is precisely another of the fundamental aspects that must be taken into account when we talk about Forex signals since the vast majority of these alerts offer fairly reliable data on assets. Similarly, these signals can also provide us with recommendations or advice to make our operations more successful.
»Purpose: predict movements to carry out Profitable OperationsIn short, Forex signal systems aim to predict the behavior that the different assets that are in the market will present and this is achieved thanks to new technologies, the creation of specialized software, and of course, the work of financial experts.
In addition, it must also be borne in mind that the reliability of these alerts largely lies in the fact that they are prepared by financial professionals. So they turn out to be a perfect tool so that our investments can bring us a greater number of benefits.
The best signal services todayWe are going to tell you about the 3 main alert system services that we currently have on the market. There are many more, but I can assure these are not scams and are reliable. Of course, not 100% of trades will be a winner, so please make sure you apply proper money management and risk management system.
1. 1000pipbuilder (top choice)Fast track your success and follow the high-performance Forex signals from 1000pip Builder. These Forex signals are rated 5 stars on Investing.com, so you can follow every signal with confidence. All signals are sent by a professional trader with over 10 years investment experience. This is a unique opportunity to see with your own eyes how a professional Forex trader trades the markets.
The 1000pip Builder Membership is ordinarily a signal service for Forex trading. You will get all the facts you need to successfully comply with the trading signals, set your stop loss and take earnings as well as additional techniques and techniques!
You will get easy to use trading indicators for Forex Trades, including your entry, stop loss and take profit. Overall, the earnings target per months is 350 Pips, depending on your funding this can be a high profit per month! (In fact, there is by no means a guarantee, but the past months had been all between 600 – 1000 Pips).
>>>Know more about 1000pipbuilder
Your 1000pip builder membership gives you all in hand you want to start trading Forex with success. Read the directions and wait for the first signals. You can trade them inside your demo account first, so you can take a look at the performance before you make investments real money!
VISIT 1000ipbuilder here
2. DDMarketsDigital Derivatives Markets (DDMarkets) have been providing trade alert offerings since May 2014 - fully documenting their change ideas in an open and transparent manner.
September 2020 performance report for DD Markets.
Their manner is simple: carry out extensive research, share their evaluation and then deliver a trading sign when triggered. Once issued, daily updates on the trade are despatched to members via email.
It's essential to note that DDMarkets do not tolerate floating in an open drawdown in an effort to earnings at any cost - a common method used by less professional providers to 'fudge' performance statistics.
Verified Statistics: Not independently verified.
Price: plans from $74.40 per month.
Year Founded: 2014
Suitable for Beginners: Yes, (includes handy to follow trade analysis)
3. JKonFXIf you are looking or a forex signal service with a reliable (and profitable) music record you can't go previous Joel Kruger and the team at JKonFX.
Trading performance file for JKonFX.
Joel has delivered a reputable +59.18% journal performance for 2016, imparting real-time technical and fundamental insights, in an extremely obvious manner, to their 30,000+ subscriber base. Considered a low-frequency trader, alerts are only a small phase of the overall JKonFX subscription. If you're searching for hundreds of signals, you may want to consider other options.
Verified Statistics: Not independently verified.
Price: plans from $30 per month.
Year Founded: 2014
Suitable for Beginners: Yes, (includes convenient to follow videos updates).
The importance of signals to invest in ForexOnce we have known what Forex signals are, we must comment on the importance of these alerts in relation to our operations.
As we have already told you in the previous paragraph, having a system of signals to be able to invest is quite advantageous, since, through these alerts, we will obtain quality information so that our operations end up being a true success.
»Use of signals for beginners and expertsIn this sense, we have to say that one of the main advantages of Forex signals is that they can be used by both beginners and trading professionals.
As many as others can benefit from using a trading signal system because the more information and resources we have in our hands. The greater probability of success we will have. Let's see how beginners and experts can take advantage of alerts:
»Trading automationWhen we dedicate ourselves to working in the financial world, none of us can spend 24 hours in front of the computer waiting to perform the perfect operation, it is impossible.
That is why Forex signals are important, because, in order to carry out our investments, all we will have to do is wait for those signals to arrive, be attentive to all the alerts we receive, and thus, operate at the right time according to the opportunities that have arisen.
It is fantastic to have a tool like this one that makes our work easier in this regard.
»Carry out profitable Forex operationsThese signals are also important, because the vast majority of them are usually quite profitable, for this reason, we must get an alert system that provides us with accurate information so that our operations can bring us great benefits.
But in addition, these Forex signals have an added value and that is that they are very easy to understand, therefore, we will have a very useful tool at hand that will not be complicated and will end up being a very beneficial weapon for us.
»Decision support analysisA system of currency market signals is also very important because it will help us to make our subsequent decisions.
We cannot forget that, to carry out any type of operation in this market, previously, we must meditate well and know the exact moment when we will know that our investments are going to bring us profits .
Therefore, all the information provided by these alerts will be a fantastic basis for future operations that we are going to carry out.
»Trading Signals made by professionalsFinally, we have to recall the idea that these signals are made by the best professionals. Financial experts who know perfectly how to analyze the movements that occur in the market and changes in prices.
Hence the importance of alerts, since they are very reliable and are presented as a necessary tool to operate in Forex and that our operations are as profitable as possible.
What should a signal provider be like?https://preview.redd.it/j0ne51jypny51.png?width=640&format=png&auto=webp&s=5578ff4c42bd63d5b6950fc6401a5be94b97aa7f
As you have seen, Forex signal systems are really important for our operations to bring us many benefits. For this reason, at present, there are multiple platforms that offer us these financial services so that investing in currencies is very simple and fast.
Before telling you about the main services that we currently have available in the market, it is recommended that you know what are the main characteristics that a good signal provider should have, so that, at the time of your choice, you are clear that you have selected one of the best systems.
»Must send us information on the main currency pairsIn this sense, one of the first things we have to comment on is that a good signal provider, at a minimum, must send us alerts that offer us information about the 6 main currencies, in this case, we refer to the euro, dollar, The pound, the yen, the Swiss franc, and the Canadian dollar.
Of course, the data you provide us will be related to the pairs that make up all these currencies. Although we can also find systems that offer us information about other minorities, but as we have said, at a minimum, we must know these 6.
»Trading tools to operate betterLikewise, signal providers must also provide us with a large number of tools so that we can learn more about the Forex market.
We refer, for example, to technical analysis above all, which will help us to develop our own strategies to be able to operate in this market.These analyzes are always prepared by professionals and study, mainly, the assets that we have available to invest.
»Different Forex signals reception channelsThey must also make available to us different ways through which they will send us the Forex signals, the usual thing is that we can acquire them through the platform's website, or by a text message and even through our email.
In addition, it is recommended that the signal system we choose sends us a large number of alerts throughout the day, in order to have a wide range of possibilities.
»Free account and customer serviceOther aspects that we must take into account to choose a good signal provider is whether we have the option of receiving, for a limited time, alerts for free or the profitability of the signals they emit to us.
Similarly, a final aspect that we must emphasize is that a good signal system must also have excellent customer service, which is available to us 24 hours a day and that we can contact them at through an email, a phone number, or a live chat, for greater immediacy.
Well, having said all this, in our last section we are going to tell you which are the best services currently on the market. That is, the most suitable Forex signal platforms to be able to work with them and carry out good operations. In this case, we will talk about ForexPro Signals, 365 Signals and Binary Signals.
Forex Signals Reddit: conclusionTo be able to invest properly in the Forex market, it is convenient that we get a signal system that provides us with all the necessary information about this market. It must be remembered that Forex is a very volatile market and therefore, many movements tend to occur quickly.
Asset prices can change in a matter of seconds, hence the importance of having a system that helps us analyze the market and thus know, what is the right time for us to start operating.
Therefore, although there are currently many signal systems that can offer us good services, the three that we have mentioned above are the ones that are best valued by users, which is why they are the best signal providers that we can choose to carry out. our investments.
Most of these alerts are quite profitable and in addition, these systems usually emit a large number of signals per day with full guarantees. For all this, SignalsForexPro, Signals365, or SignalsBinary are presented as fundamental tools so that we can obtain a greater number of benefits when we carry out our operations in the currency market.
Forex trading hours, Forex trading time: New York opens at 8:00 am to 5:00 pm EST (EDT) Tokyo opens at 7:00 pm to 4:00 am EST (EDT) Sydney opens at 5:00 pm to 2:00 am EST (EDT) London opens at 3:00 am to 12:00 noon EST (EDT) And so, there are hours when two sessions overlap: New York and London: between 8:00 am — 12:00 noon EST (EDT) Sydney and Tokyo: between 7:00 pm — 2:00 am EST (EDT ... Forex Market Hours. See forex market trading hours at a glance. Check at what time forex markets open and close in London, New York, Sydney or Tokyo. Your time zone is adjusted automatically. National bank holidays and weekends are taken into account. Major Forex Market Trading Hours (GMT+8) The following table shows the opening and closing times of the major foreign exchange markets. Note that the trading hours of some markets such as London, New York and Frankfurt will be different during summer and wintertime. Forex Market: Daylight Saving Time: Standard Time: London : 16:30 – 23:00: 17:00 – 00:30: New York: 20:00 – 03:00: 21:00 ... Forex Market Trading Hours June 18, 2020. Though it is said that forex market runs for 24 hours a day and 5 days a week, it is important for traders to understand the ebb and flow of the market in order that they will time their trades correctly. This is true for both day traders and trend traders as the day traders depend on the volatility and the liquidity in the market while the trend ... Forex traders need to commit their hours to memory, with particular attention paid to the hours when two exchanges overlap. When more than one exchange is simultaneously open, this not only increases trading volume, it also adds volatility (the extent and rate at which equity or currency prices change). Both of these factors can benefit forex traders. The forex market is available for trading 24 hours a day, five and one-half days per week. The Forex Market Time Converter displays "Open" or "Closed" in the Status column to indicate the current state of each global Market Center. However, just because you The trading hours for all currency pairs is 00:01 server time to 23:59 server time daily (23:57 on Friday), whereas for Gold is 01:02 server time to 23:57. All other Metals (XAG, XPD, XPT) open for trading at 01:00 server time (Monday) and close at 23:59 server time daily (23:57 on Friday). You will also be able to view the Trading Hours from within your MetaTrader trading terminal by ... Forex trading hours - learn how to avoid the losses from trading at low liquidity times. Discover which hours of the day bring the highest potential profits and which hours can bring you losses. For free. And without the errors that other tools have. Our “Golden Hours” is a forex trading hours tool that will help you save your money and keep your nerves by not trading at the wrong time ... Forex Trading Hours with Triton . What are Triton’s trading hours when it comes to Forex? With Triton, you can trade Forex 24 hours a day, five days a week! That’s right, the Forex markets are worldwide and follow a 24-hour global timetable. Here’s the Forex trading hours timetable. America Forex Trading Hours. Forex trading activity reaches its maximum level when the New York trading hours opens and US banks begin to work, and European dealers return after their lunch break. The influence of European and American banks is similar, so no significant changes take place in Forex compared to the start of the European session. However, after the termination of the European ...
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