==== ====Avi Frister Veteran Trader Reveals A Unique Strategy To Generate Great Income CHECK THISPLEASE :-)http://tinyurl.com/77mc7hs==== ====Seriously consider forex signals if you are not yet trading profitably, have limited experience, orjust dont have much time to devote to your forex trading.From the simple one email a day variety to the forex mentor who sits with you all day holding yourhand as you trade, a portfolio of forex trade alerts can be virtually free and can transform you intoa profitable trader instantly.If like us youve ever analysed a chart and placed your own trades, you will almost certainly havealso sat in front of your screen wondering if you were doing the right thing.Questions like "have I entered this trade too late ?" and "am I trading in the right direction (longwhen I should be short)" will certainly have entered your mind.How many times have you wished you had an expert trader with decades of experience guidingyour trades, keeping you out of dangerous trades, and pointing you towards trades with a higherprobability of success ?We were certainly in that position many times in the early days, but always imagined the cost ofhaving an expert on hand would far outweigh any extra profits we might make. It turns out we werequite wrong.There are numerous services available, known variously as forex signals, forex alerts, or forextips.Trading signals come in a variety of formats, suited to how much of your day you can devote totrading. And yes beware, there are loads of scams out there too, but well show you how to avoidthem, and well direct you towards the better ones.Forex Trading Signals - many varietiesThe main characteristics of forex trading signals to be aware of are as follows;Cost: Free OR monthly subscriptionComplexity: Simple "one email a day" OR Full-ServiceControl: You keep full control OR the signal provider trades your a/c for youTrading style: e.g. frequent scalper OR low volume swing traderA free forex signal may at first seem like a fabulous idea, but as we will reveal here, you may verywell prefer to pay for a free subscription service (yes, we know that doesnt make sense - but read
on)Most forex trade signals charge a very modest subscription fee, usually in the region of USD $80 -$400 per month (although happily most are at the lower end of this range), while there are alsowebsites which provide forex signals for no charge.In their simplest form a forex trading signal will send you a forex alert email once a day listingtrade set ups for the next 24 hours.Some of these are purely computer generated, some are computer generated and then audited bya human expert, and some are completely researched and generated exclusively by a humanexpert trader who may add some market commentary to their forex forecast.Some forex trading signals are high volume scalpers, calling many trades in a day aiming to profita handful of pips on each. Others only call a few trades a day, aiming to profit 20 - 80 pips on eachsingle trade.At the more full-service end of the market is the type of forex signal service which provides youwith an almost 24 hour a day live online broadcast calling forex trading tips as they occur,explaining the logic of the proposed trade and backing it up with an email or even a video clip.Some forex trading signals will even trade their signals in your own account for you, leaving you tojust sit back and watch.This is similar to what a robot does by using forex signal software, but with the added reassurancethat its being done by an experienced intelligent human trader rather than a dumb machinefollowing an algorithm.Think of full-service forex trading signals like a forex TV station, which you have running in thebackground on your pc or internet connected laptop throughout your day. The broadcast remainsquiet when there is nothing to do, freeing your time for the other priorities in your day, then calls foryour attention when there is a trade to place or manage.You may be surprised, as we were, to discover that the prices charged by full-service providersare usually very similar to those charged by the one email a day providers.This type of service usually also includes an interactive facility, enabling you to send a message toyour forex mentor if you have a question.Many forex signal services have very loyal memberships, and some even limit the number ofmembers they will accept.Free forex signals (virtually)On the basis that time is money, in our opinion the amount of time we can now devote to otheractivities by not slaving over our charts for hours searching for the perfect trade set up, not tomention the improvement in our trading results, has more than paid for the very modest cost of theforex signal subscriptions.
Indeed if you apply this logic, subscription based services can effectively be free when you takeinto account the improvement in your trading profits, and the freeing of your time for otherprofitable activities.If you think about it, a subscription based forex signal service has a built-in incentive to callprofitable forex trading tips, as its subscriber base would soon evaporate if it failed to provideprofitable currency trading tips. "Free" non subscription signals do not have this incentive.Manage your riskIn any aspect of forex trading your primary goal is to manage your risk. Choosing, and trading aforex trade alert should be no different.Even the best most experienced provider of forex signals will regularly have losing trades.However taken with all of their winning currency trade signals the overall result should still beprofitable, but not all systems work all of the time. Some forex alerts may even have a completelylosing week or month.However, we have found through our own experience that the best way of making consistentprofits with forex signals is to subscribe to several different currency trading signals and trade all oftheir signals. If one of them is having a particularly bad week, the others should compensate andstill net you a profitable week, or break even at worst.Always do your due diligence before trading a providers forex alerts. Good forex signal serviceswill publish their last 6 - 12 months results on their website. Some will even show you details of theactual trades they took. Expect to see losses as well as winners - thats just the nature of trading.Indeed, if the results show only winners, or the provider is unwilling to show you any results, or toprovide contact details of some of their clients willing to give a reference be on your guard.Most will offer you some sort of free trial or discounted special offer. Make sure that you clearlyunderstand the terms of this offer and know the deadline by which you need to give notice toterminate if youre not happy with the service provided.If you compare the last 6 months results of all the forex signal service providers you intend to use,you should find that taken as a whole they delivered a profit.Past performance is no guarantee of future results, but we have found that if you have a goodcombination of trading styles in your trading signals portfolio you are in with a fighting chance ofconsistent profits whatever the market conditions.Again, think about the cashflow logic of what you will be doing here - the subscription costs ofeach forex signals service are already very modest, and by combining them you are increasingyour probability of consistent profits. They cant all get it wrong all of the time, and remember theyare all incentivised by their membership to get it right as often as possible.Even with experienced traders calling your trades, its prudent risk management to never ever riskmore than 3% of your initial capital on any one trade, preferably only 1%. So, if for example yourinitial capital, (or to put it another way, the maximum you can afford to lose) is lets say 5,000, the
position size you take on each trade should be such that if the trade hit your stop loss, yourmaximum loss would be no more than 1% x 5,000 = 50.Using forex signals as trade ideasEven if you prefer not to follow forex tips to the letter, you can still profit from their trade idea.For example, if you receive a forex tip trading the GBP/USD long with a 40 pip stop loss, but onanalysing the charts (following your attendance on a forex training course) you feel morecomfortable placing the stop loss lets say 63 pips below entry, giving the stop protection below avisible area of recent and prior support, which happens also to be below the weekly pivot point,and in doing so are happy to have a longer range target - then go right ahead and do so.We were surprised to find that when we did exactly this with one of our forex signals tips ourtrades actually performed better than theirs did. Two heads better than one maybe.The point is though, that without the forex market forecast drawing our attention to that particularchart at that particular time we would never have seen that trade idea.This also makes the point that while it may at first seem temping to let a signal provider trade youraccount for you, if you have the time you may actually prefer to control it yourself.If you have been through a good forex training course and understand the concepts of support,resistance, pivot points, trends etc you should always use this knowledge to perform your own duediligence on forex alerts. You may well find as we did that you can enhance the overallperformance of your portfolio of forex trade recommendations.Free forex signalsThis section would not be complete without mention of forex signals providers who dont chargeany subscription fee.As we mentioned above even subscription charging services should be effectively free to you byvirtue of calling enough profitable trades to more than cover the subscription cost.In addition we prefer to use subscription based forex signals as they have an incentive toconsistently call profitable trades, in that their subscribers wont stay with them for very long if theydont.Free signals by comparison have no such incentive, so be warned and trade them at your ownrisk.The [http://www.profitable-fx-trading.com] website provides access to free signals providers aswell as details of some of the better subscription services, along with free training videos andmany other free tools, strategies and useful contacts to make your forex trading as profitable aspossible.
Article Source:http://EzineArticles.com/?expert=Thomas_Webster==== ====Avi Frister Veteran Trader Reveals A Unique Strategy To Generate Great Income CHECK THISPLEASE :-)http://tinyurl.com/77mc7hs==== ====