The foreign exchange or forex market emerged to facilitate the monetary flow derived from international trade. The Forex captures operations in foreign currency by operations from various countries. Being the largest financial market in the world, in which a daily volume of transactions of 5 billion US dollars (USD) moves, it surpasses all other stock markets together.
In short, you can make a lot of money from it only if you know how to do it! Hi, my name is Djordje Novakovic and I am a 23 years old forex trader. I didn’t call myself successful here, but I will let you decide yourself. I graduated from HEC Lausanne in a Bachelor of science and management.
Then, I went to Westminster University, London, and finished my master’s degree over there. Currently, I own a company located in Switzerland called Iconix investment. It does consultation for financial institutions but also individual persons. I mainly help people trade Forex and be smart with their investment. Apart from the daily Forex Trading, I own a few apartments that I rent every month (In France).
Now, in this article, I am going to tell you what makes me different than other Forex Traders out there and what strategy I use to close many profitable trades in the Forex Market. So, keep reading! Understanding a Forex Signal is the Key to Successful Trading The forex signal or alarm provider is the entity in charge of sending signals so that you can place your orders in the forex market without having to analyze the situation in the market. A number of factors must be taken into account to make the right decision.
In fact, there are several signal providers in the market, and each offers a range of variables. The truth is that many brokers also provide this service, but not all of them can estimate the move with precision. That is why I am here. I have been providing signals for ….. years.
And you can personally check my Instagram account @Switztrader or visit my website at Switztrader.eu Main Features of These Alerts Within the financial sector, we can find many alert systems that will provide us with all the information we need about Forex. Here are the features of our alerts. Currency pairs One of the essential aspects is to know how many currency pairs are analyzed through these signals, that is, how many currencies we will obtain more detailed information.
Typically, these systems provide us with a large number of pairs, but if we are going to choose a good system. We must pay attention to the fact that, at least, these signals provide us with information on the six most important currency pairs. We refer to those made up of the euro/dollar, dollar/yen, pound/dollar, Swiss dollar/franc, euro/yen, and Canadian dollar/dollar.
If we also have other secondary or even exotic pairs in this system, much better. Signal duration Another aspect that we must take into account to choose our best signal system is related to the duration of these alerts. If we are operating in the Forex market, we must have signals that offer the opportunity to obtain information in different periods, in case we want to carry out different strategies, such as long-term or short-term. For this reason, the best signals are those that provide relevant market data in minutes, days, or even weeks.
With this, we can set our strategy in the best possible way Additional tools Although the alerts themselves are going to offer us useful information so that we appropriately invest in the currency pairs, it is always advisable that you also use other tools available we have to analyze the market to have more detailed information. Forex signals should always be accompanied by tools such as various technical analyzes or a large number of reports about the assets we have available in the market.
It is also important that the experts elaborate on some signals and offer us recommendations. The efficiency of forex trading signals Similarly, it is also important that in all the signals we receive, we can obtain data on the efficiency of these alerts. On many occasions, both brokers and suppliers usually include this information on their web pages. Therefore, we can previously check the status of these signals and the performance they produce in the operations that we can carry out later.
In any case, it is always interesting that both brokers and independent signal providers like me offer you the possibility of using these signals as a test. Therefore, you will familiarize yourself with the system and know how to use it after an established period. Typically, you can test these alerts within a period of 7 to 14 days. Quick Signal Delivery Also, another relevant aspect is that my signal comes with different signal delivery systems. Although we can consult them from the website itself, it is also good that we have systems that send us these alerts through an email or if we prefer. It can be by text message on our mobile phone. Therefore, you will be informed at all times of the changes that occur in the market and the assets themselves.
In this context, we cannot forget that an adequate system must offer us a personal assistance service 24 hours a day. This way, you can have the opportunity to contact the expert if we need more immediacy. The operation of Forex signals In the last section of our analysis, we are going to talk about how these forex signals work. As we have already mentioned in previous paragraphs, these alerts can be obtained through two supports, or we have them available in our usual broker, with which we work or we can also hire the services of the signal providers that are engaged in exclusive to elaborate these signals.
We will start talking about the brokers since, whenever we decide to carry out operations, it is normal that the support we have chosen to perform them, also provide us with these services. Live alerts provided by brokers We will have these alerts available as additional tools, and as a general rule, they do not usually have any complementary cost, the only thing we usually ask is that we make a real account in the broker. If we use these signals with our support, we can consult all the information we want on the website itself, although we will also have other ways to receive these alerts, such as an email or a text message.
Likewise, the Forex signal systems provided by brokers usually accompany these alerts with technical analysis of the market, as well as multiple indicators on the best moments of entry and exit. Finally, the information provided by these signals helps us a lot to issue Stop Loss orders. Trading Signal Providers Although most of the brokers that we currently have available in the market offer us Forex signals, in the case that you choose one that does not have this service, you can always hire it Forex signal provider like me who is dedicated to elaborate these alerts.
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