Test signals on a Demo account first
No matter what the signal provider says, including us, you need to test your signals on a demo account first. Sometimes, a signal provider may show super successful results, but it does not mean that you will have the exact same results too! Thus, you need to test your signals first.
At AtoZMarkets, we provide daily Free Forex trading signals. These signals come every day during the Asian trading session and they almost always appear as pending signals for the European session.
You can get AtoZMarkets.com Free Forex trading signals completely free of charge. Our Chief Currency Analyst will always publish these signals during the Asian session. Once the signal is live you will get a notification on our Telegram channel. You should also consider signing up for AtoZMarkets Forex Signals newsletters to make sure that you receive an email alert once the signal is published. You can always opt-out of email newsletters.
Although we are confident with our track-records, we highly encourage you to verify it yourself before putting real money. You can always test trading signals on a demo account first. Once, you are used to the system then you should move to a real account and start making real profits and sometimes losses of course.
Please make sure to use the signal instructions carefully. If a signal comes as a Buy Limit order you need to use a limit order. Alternatively, signals can come as a Buy stop order or as an instant order. You need to get used to these terminologies and signal types.
So how does daily FX signals work?
Every Forex signals system is unique and relies on a different analysis of the market but overall there are two main methods that guide the market experts who produce the signals.
The first is a technical analysis of the market including all the past information about the price and trend that is available. The second is based on current events and the analysis of how they might affect the price action over short and long periods of time.
Some signal systems are based on automated analysis. So, what we have done is automating some of our trading strategies to minimize any possible human error. The main benefit of automated trading signals is minimal human psychology involvement thus the minimal human error. At the same time, you need that human judgment not to trade certain trading environments.
AtoZ Markets daily trading signals come from Yury Sofranaus' trading desk most of the time. Most of the free signals from Yury are based on technical analysis. He is not just an analyst, he also trades these orders personally. Depending on the trading instrument and the signal he will use trend lines, Support and Resistance Levels, True Fibonacci Levels, Moving Averages, Breakouts, some other Oscillators, and Indicators.
What are the advantages of Forex signals?
Forex signals have a number of undeniable advantages:
- You don't have to waste time creating your own strategy. Developing your own Forex trading strategy can take a long time, so you may decide to follow a trader with the same portfolio risk level as yours.
- You will save a huge amount of time on opening trades and monitoring various markets.
- You are diversifying your risk at the most objective level. You can choose several providers of Forex strategies so that your result does not depend on the profitability of only one strategy.
- And even more! If you have a current strategy or EA (expert advisor), you can quickly add additional strategies to your trading suite by adding automated Forex signals.
- Save on cost. Social trading is a low-cost alternative to the well-known traditional money management.
- Low barriers to entry. You do not need to have a minimum account balance to start and continue social trading. In fact, any trader with access to MT4 can do this.
- No paperwork. There is no complicated and boring paperwork - you can easily and simply start working with signal copying.
- Monitor your account. The account you use for social trading is in your name, so you do not need to issue a power of attorney for someone.
- You are well protected. When you decide to follow a trader, you decide how much to invest in his strategy and you can place a stop loss point in your MT4 account in case things don't go as you expected.
- You can even share your successful strategies.
Trading on forex signals is inextricably linked with risks. To keep you safe from them and help you choose the best forex signals, we have written this article in a rating format that evaluates several well-known (and not so) free forex signal providers.
Free forex signals are a great way to make money even for those who have zero experience in currency trading. They can be received on email, Whatsapp or via telegram to be manually reproduced on your account. Or you can use cool social trading platforms with automatic copying of signals from trusted traders to your account in a reliable broker.
Whichever option you choose, you should accept that 100% profitable systems do not exist, and the rapid growth of the deposit in the past does not guarantee similar results in the future.