What Are The Best Forex Signals

While no single definition of forex signals, it generally includes: suggestions for initiating trade on a currency pair, generally at a specified price and moment in time.^[1]. Signals can be generated either by a human analyst or an algorithmic Forex robot supplied to a subscriber of a forex signal service. Given the time-importance nature of signals, they are usually transmitted via tweet, email, website, SMS, RSS, or other relatively immediate delivery method. The communication channels over which forex signals are provided are evolving and with improved speeds, cloud data processing and smart-phone apps, we are on the verge of a new paradigm.

Why Forex Signals

Forex signals constitute data on a specific instrument, including recommendations with respect to the trade’s volume, position’s opening and closing details, for setting stop loss and take profit orders, and choosing an appropriate trading vessel. Using these signals protects you against unmonitored losses, thus giving you an edge in your market activities.

Signals should be understood as advisory, only. All trading decisions based on these signals should jive and be in conjunction with other available data.

What is Forex Trading

The purpose of forex signals is to empower a market trader with superior wisdom and insight, so that his activity results in profitable trades. Already, the era of big data has radically impacted the world of forex charts and the forex calculator . Traders using simplistic memory-driven hand-generated forex signals are hopelessly out-gunned by do-it-yourself algorithm home traders employing cloud-based computing technologies and cherry picking from among the endless freely-available services. The ability of big data analysis to abstract and aggregate the accumulated activity of millions of individual decision makers means that trading strategies must be continually refined to ensure that they remain unique and outside herd. If the metaphor for our era is that analysis is now finding haystacks for given needles, forex signals are those needles.

The issue of signals is even more complex because of all the levels of perception and commercial motivation of the various market participants. When you act on a signal or set of forex signals which you devised or acquired via a forex calculator or forex charts, and your trade is profitable, you might reasonably surmise that the insight you garnered and applied did, in fact, result in your success. And if another profitable trade also resulted from the same methodology and execution, then you would be even more confident in the correctness of your actions. And yet… the complexity of price determination might very well be an “unknown known” or even an “unknown unknown” (in the lexicon of Former US Defense Secretary Rumsfeld). Popularized in financial analysis circles as “The Black Swan”, the scenario is that everything is understood and proceeding swimmingly until suddenly it isn’t. This conundrum of underlying truth and causality is particularly vexing for the individual trader in our era without recourse to the apparatus and methodology of big data. At least with a “haystack” of data and analysis at the source of your determination process, a statistical logic and framework imbues your trading decisions with meaning and probabilities of success.