What are Forex Signals?
Forex signals are basically trade ideas that an experienced trader or market analyst has identified. Forex signals are used by both newbie traders and experienced traders professional alike. New traders might use signals to enable them to earn whilst they learn and experienced traders may use signals to save time looking for trading opportunities.
Most forex signals will notify the trader of the entry price, the stop loss, take profit levels, and whether it is a BUY/SELL market execution or pending order. Fair Forex provides signals on forex pairs, commodities, indices, and cryptocurrencies.
Types of Forex signals
There are two types of Forex signals- manual and automated. Automated signals are when a trader subscribes to a signal through their Metatrader account. The trader chooses a signal provider that they are interested in and subscribe to it in a few clicks. You can view various signal providers on the Metatrader platform and analysis their statistics and growth to date. Once you have subscribed signals can be followed automatically through the Fair Forex Metatrader platform so every time the signal provider opens and closes a trade the same trade will be opened in your account. You can easily change the settings in your account to mange your risk.
The second way to follow signals is manually. This is when you manually open and close the trade yourself. This is very easy and is a case of cut and paste. Fair Forex signals are posted daily on our Telegram channel. Our professional traders post all the required information and if you have a question, you can ask the trader in our chat channel.
How do I follow signals?
To follow our Signal, you manually copy them to your own trading platform by opening a buy/sell position and copy and paste the stop loss and take profit data in each field.
This is what our signals look like:
Each signal comes with analysis that allows you to understand how the trader determined that trade:
Each week on a Friday we then post the results from the week and summarise if any trades are still pending or open:
Fair Forex signals are essentially trade ideas. The trader receives the position (buy/sell) (pending/ Market execution) posted on our Telegram signals page together with the stop loss (SL) and take profit (TP) levels. All you need to do is copy the trade at the market price when the signal goes live or if the signal is a pending order such as a Buy/ Sell Limit or Buy/sell stop then create this is your trading platform.
If you have any questions about a signal you can ask the trader in the Fair Forex chat group.
Signals can be a useful tool for new traders and experienced traders alike. Signals re used by Forex traders all over the world to help them make critical trading decisions, to verify a trade or to give them ideas they may not have identified themselves. They are an extremely important trading tool which almost all traders use in one way or another. There are many signal providers out there, some are offered for free while others for charge a fee. Always make sure you use a trustworthy service and check their past results.
You should always be willing to learn the skill of trading but signals can enable you to trade whilst you are learning as well as help you develop your skills.