A Forex signal is a suggestion for entering a trade on a currency pair, usually at a specific price and time. The signal is generated either by a human analyst or an automated forex robot supplied to a subscriber of the service. Due to the timely nature of signals, they are usually communicated via email, website, SMS, RSS, tweet or other relatively immediate method.
A forex signal is not like a road sign that is easy to read. It is not displayed at eye level to catch your attention. Rather these are bits and pieces of information that may be considered public, but are mixed in with so much raw data that it is more akin to finding a needle in a haystack. A Forex signal mentor can help you in many ways. This includes but is not limited to:
• Signal Identification which allows you to sift through a veritable mountain of information to identify the choice bits and pieces(Unpaid/free signals).
• Signal Analysis (Technical/Fundamental). Paid signals from one provider whether by personal analysis or algorithmic analysis.
• Paid signals aggregated from multiple signal sources or ‘systems’.
• Signal grouping which means prioritizing the information to verify first, second, third, etc.
• Signals supplied by trading software located on the trader’s computer, also known as a forex robot or EA (expert advisor)
These are some of the advantages of a forex signal mentor. Read More