Have you ever thought that, while trading at Forex you have to carry out a lot of actions, and it would be a good thing to systemize, optimize and automate these actions? In our today’s article we will review trading signals, which act as an instrument helping you grasp an idea of automated trading.
Trading signals is a unique way of automated trading at Forex currency market. In fact, trading signal is a special software, designed to automate some routine trading processes at Forex currency market. For example, they give recommendations, which can help a trader make decision on opening transactions. In the other words, they show a trader the optimal time for opening or closing of the transactions in future.
Actually, it works in the easy way. A professional trader, who you prescribed to in Metatrader 4, gives recommendations based on his evaluation of the best period for opening, or closing positions on a certain currency pair for the nearest future. The professional trader uses this evaluation for his own trading; however, it is up to you, whether to follow these recommendations or not. You should always remember that all people can make mistakes. Therefore, when you agree with the opinion of a professional trader, you take your own risk. You can download and install Forex trading signals for free from the trading terminal Metatrader 4.
A table of trading signals providers in Metatrader 4 is given in the form of columns containing the main indicators, such as: signal/ funds/capital gains/profit (%)/lifespan of a client (weeks)/subscribers/ funds/ percentage of the successful trades/ maximum drawdown/ profit factor. Therefore, reviewing a column you can select the most attractive offers and discard irrelevant ones. More detailed statistics of an individual trading signal will be provided if you click on this trading signal.
You can use the table for subscription; you can also mark some sections as the favourites (next tab after the main page) by clicking on the star opposite the section. It will allow you to track and analyze trading signals.
In the next section “My statistics” you will find the price of all prescriptions you have prescribed to when using Metatrader 4.
As you can see, trading signals can automate some of the trading processes at Forex market.
In conclusion, I would like to wish our readers successful trading and high profit.
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The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.