A forex trading signal is an alert that you receive, letting you know that it is time to long or short a market. A forex signal isn’t executed automatically which means you’re able to take the time to analyse the market yourself and decide whether the risk profile of the particular trade fits into your overall trading strategy.
If you trust the forex signal provider, then you are able to save a lot of time and keep your focus on other core aspects of your trading business such as risk management principles. At the end of the day, many professional traders who have the experience to back up their claims, will tell you that risk management deserves 10x the attention that entries and exits usually receive.
Benefits of Using Forex Trading Signals
– If you’re new to the markets then developing your own forex trading strategy can actually do more harm than good. Not only does it consume all of your time, but you can allow bad trading habits to become ‘normal’ very easily. Sometimes you’re better off just following a professional trader’s forex signals.
– You can save some serious time by not having to think before you execute your trades. While we don’t recommend having your signals automatically executed on your behalf because you don’t learn the system and can’t keep the trades within your own risk management profile, it does save a ton of time when compared to completely running on your own.
– Diversification of risk by selecting a whole range of professional traders to receive forex signals off, is a major benefit. This way, you aren’t relying on the performance of just a single strategy.
– If your current strategy only gives you trade entries once every week (for example such as a swing trading strategy that focuses on the higher time frame charts), then by receiving forex trading signals, you can increase the number of trades you take.
– Forex trading signals are a cost efficient alternative to both money management and high end investments. Through the Vantage FX MT4 platform and the marketplace tab, you are able to select some of the highest performing signals free of charge.
– There are no minimum account sizes required to trade forex signals on the Vantage FX MT4 platform. As long as you have a live account with Vantage FX and have the MT4 platform installed, then you’re good to go!
– You stay in full control of your own trading and account at all times. As forex signals are sent to you and you execute the positions yourself, there is no need to give access to your precious trading capital to any third party.
Gaining FREE ACCESS to Forex Signals
Before you can access trading signals, you will need an MT4 trading account. This can be a Demo or Live account and both are free to open with Vantage FX.
From here, adding signals to your Vantage FX MT4 platform is easy. With just a few clicks, you can expedite your trading experience! Access the signals tab from your MT4 terminal window and explore the world of MT4 Trading Signals.
Source: Vantage FX Blog