Forex Signal Services by:Amber Lowery

What are Forex signals? Forex signals are paid services offered by some brokers and independent Forex annalists

. Companies that offer forex signals monitor and analyze the market for you, providing you with their data via desktop alerts, email or even SMS and pager alerts.

Forex signal services analyze several factors when preparing their data. They do a technical analysis of market conditions and use a combination of indicators to identify trends and isolate profitable entry and exit points. They then send you the results via the venue of your choice and you can choose to use the signal in your own trading, or pass on it.

Most forex signal services offer signals for only a handful of the most popular currency pairs, such as EUR/USD, USD/JPY, GBP/USD, USD/CHF. Occasionally, you can find specialty services that offer signals for other lesser traded pairs. Forex signals can be costly, even upwards of $100 / mth. The benefit of subscribing to such a service is that they analyze and crunch the data for you, saving you time. It should be noted, however that using a signal service is no substitute for a proper education in the Forex markets. Signal services give you data, you still need to know what to do with it.

When shopping for a signal service, make sure that they provide you with historical data so that you can see their track record for yourself. Remember, that like any trader, Forex signal services also have loosing trades. You shouldn't expect a signal service to be a sure ticket to instant Forex wealth, but rather look at them as another tool in your trading toolbox.

About the author

Amber Lowery

For more articles and information on Forex, visit: http://www.forexbytes.com.

POST COMMENT

What You Need to Know About Debt Consolidation by:Bill Thompson Work At Home Moms Enjoy Family and Career by:Benjamin Scott Home Loans and Mortgages - Time to Consolidate Loans? by:Charlie Essmeier Credit Report - Watch Out for Parking Tickets by:Charlie Essmeier Tips for Choosing a Credit Card Company by:John Daley Teleclasses: Your New Innovative Way to Learn by:Kim Olver Refinancing Your Home - Is the Time Right? by:Keith Thompson Making Time For Your Family and a New Internet Home Business by:John Purdy Ten Relationship Traits And Skills For Good Leadership by:Barbara White Delivering Fantastic Service! by:Darryl Gee Bridging Loan Basics by:Darren Yates Understanding Your Credit Score When Applying for a Loan by:Gage Wazein History Rhymes With A Bull Market In Stocks by:John Allison