Forex signals providers are forex brokers. Forex Signals act as a trade alert for the currency market. It notifies traders when to enter or exit a trade. Signals can be split into three groups:
- News trading signals
- Technical signals
- Real time trading ideas – Webinars
How do they work?
There are three main ways of putting the signals to best use and what you use will depend on your own goals, time available, how active you want to be and your personal risk profile. What you use could also depend on what is actually offered by the signal provider you choose as some will only offer the signals on one of the formats below:
Follow along/ Self-directed
You run your own account and simply follow the advice provided by the signals when you receive them. For example, you receive a trade alert signal that you want to follow so you sign into your account and enter the trade according to the conditions given.
Even simpler is using a ‘trade copier’ whereby your accounts are linked and when a trade is placed by your signal provider it is automatically entered in your account.
Through a managed forex account
Slightly different from a signal, the managed forex account allows a professional manager to trade your funds on your behalf for either a salary or a fixed share of the profits.
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Source : https://www.quora.com/How-come-there-are-so-many-forex-signals-providersThank You for Visiting My Website