How to benefit most from Forex signal services

Using third party Forex signals is very popular in the Forex market. Since the statistics of retail traders show that most of them are loosing money, many of them believe that getting help or advice from an expert can dramatically improve their trading results.

When we decided to conduct a survey among our customers in order to analyze the way that traders use our trading signals, the interesting finding was that even when provided with exactly the same trading signals, a group of traders will use these signals differently!

We have categorized the way these traders use our trading signals to six main categories. More than 90% of the traders participating in the survey stated that they use our signals in at least one of the following categories to get better results in their trading:

Mandatory signals execution: some Forex traders follow Forex signals AS IS, trading all of them, or at least most of them.

Discretionary signals execution: some Forex traders wait a few minutes after receiving a Forex signal and then decide whether to open a position or not.

Market anticipation: some Forex traders follow Forex signals to determine the signal provider's market anticipation. If for example the provider keeps on opening positions in favor of the USD, these traders conclude that the provider believes in a strong USD and therefore feel comfortable to open trades that reflect the strengthening of the USD.

Self-trading corroboration: some Forex traders use Forex signals as an online advice from some of the most professional Forex market participants and get corroboration for their own trading.

Position opening: some Forex traders use Forex signals just to open trades, but manage those trades by themselves.

Position closing: On the other hand, some Forex traders use Forex signals to close their own opened trades.

Conclusion: There is no "better" way of trading or using Forex signals! Every trader should use the signals in a way that makes him feel comfortable in terms of his risk management and tradable funds.

The good news is that there are many ways to benefit from signals services because, as in many other areas in life, getting help or advice from an expert can dramatically improve your trading results.