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3 Charting Tricks Every Trader Should Know

3 Charting Tricks Everyone Should Know. Trading is rewarding, there’s no question about it. The satisfaction you’ll find from making a good trade, watching your investments grow and learning to trust your decision-making skills is enormous. But the technical...

Can Anyone Become a Trader

Can Anyone Be a Trader? The short answer: Yes, anyone can be a trader. But that doesn’t mean everyone should be a trader, or that everyone has the strengths it takes to stay in the game for the long haul. It’s important to do some introspection before making your...

Trading Room Community Rules

SmartTrader Trading Rooms are designed to provide an interactive outlet for traders to connect with others around the globe, share ideas, and learn trading strategies, market opportunities and more. It’s important to us that a safe space is maintained for you and...

SmartTrader Announces New CTO

SmartTrader announced today that Ryan Ruscett has joined the company as Chief Technology Officer (CTO). As CTO, Ruscett will lead efforts to strengthen SmartTrader’s technology focus and accelerate the cloud-enabled SaaS charting platform and trading solutions....

Trading Your Way

In honor of 26 years changing the lives of traders around the world, your favorite trading experts are sharing unique techniques and strategies for every type of trader at this incredible virtual event! This year's rapid market action has provided a nearly endless...

SmartTrader to Perform Broker Name Service Maintenance

As part of continuing efforts to provide users with a reliable, streamlined experience, SmartTrader will be performing maintenance on the broker name service list starting June 16.

10 Ways to Learn Patience in Trading

We all know that “patience is a virtue,” but that goes double when money’s involved. The market can be a fickle and frustrating place without a long-term vision and strategy, both of which are essential building blocks for patience. The markets may seem like a...

Sharing Trading Ideas

Do you have a new trading idea you want to share with your fellow traders? What if you see an idea that you like and wish you could use it on your charts? You can easily do both!

How Smart Fibs Work in SmartTrader

Did you know that with a click of a mouse, the Smart Fibonacci Tool can provide insight into the current market direction and market swings?

How to Integrate Your Forex Broker Account to Easily Execute Trades

You’re all set up and ready to go…but wait! You haven’t linked your forex trading broker yet.

Reliable, Accurate Forex Signals Help You Meet Your Earnings Goals

Part of the thrill of investing in the forex market is using your knowledge, training, and instincts to make your currency trades. At the same time, no one can possibly keep up with everything that’s happening in the currency markets. That’s why accurate forex signals can be such a powerful tool in your investor’s toolbox.

What Are Forex Signals?

At its most fundamental level, a forex signal is simply an indication on which currency pairs to sell or buy. A typical forex signal will also include a recommended Stop Loss point to protect your investment and a Take Profit point at which you exit the trade and reap your profits.

Almost all traders, even advanced traders, rely on forex signals to some degree, because they offer so many benefits, including:

  • An easy way to begin trading
  • Clear stop loss recommendations to lower risk of loss
  • Clear profit indicators so you know when to jump out
  • The ability to automate your Forex trading
  • A way to trade successfully without having to keep up with the news on dozens of different currencies

Who Creates Reliable Signals?

A forex signal is only as valuable as the person or company that’s behind it. After all, anyone’s uncle can start recommending trades. That doesn’t mean they are good! Many top forex training companies as well as brokerage firms offer forex signals to their members.

Signals are developed by their in-house staff of expert traders who create signals based on a variety of factors, including:

  • In-depth knowledge of different currency pairs
  • Years of trading experience
  • A variety of trading strategies
  • A technical analysis of the market
  • Past pricing information
  • Current news and trends
  • Indicators, such as support and resistance levels, moving averages, market sentiment, candlestick patterns, etc. 

Most companies also incorporate advanced computer software to help them develop signals. Some companies even completely automate their signals, using computer programs that incorporate a variety of strategies and learn how to recommend trades over time.

Usually, the best signals are designed with a mix of human and computer influence. One path to adding scientific influence to your own mix is through the Smart Tools found in SmartTrader.

RELATEDHow the Best Forex Signals Can Be Found

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