Forex Signal Services

This is a no nonsense service designed to offer a service to forex traders all over the world.

You will not find here any claims of 100% successes hardly any flashy graphics definitely no webpages that try to keep you on the page when you try to leave it and no freebie rubbish offers wanting your email address which at the end of the day are only going to give you tons and tons of useless spam.

What you will find here is access to our FOREX trading signals, Trading Alerts and our eagerly awaited live trading room and general information about FOREX trading.

Once you have signed up for signals using the link on the menu. You will receive during each day Warnings of possible trades.

Once we have established that a good trade position is possible you will then receive an email saying that a trade has been opened.It will normailly contain Stop Loss and Take profit points. If any changes to the trade are made during the trade then an email will come notifying you of this. Sometimes trades are closed before the Take Profit point and Sometimes if the trades are in a losing position they will be closed before Stop Loss point.

There may be more than one trades taken during each day. You need to pay attention to the following things. Most importantly MONEY MANAGEMENT. The importance of this cannot be over stressed. If you open too many trades with out a large enough balance you will margin call your account!!

All this is explained in the Money Management Link in the menu.

The other important thing to pay attention to is the Trade Ticket Number which will be in the email . As you might be getting more than one trade , this will help you identify that we are all working on the same trade

This is one of the most important skills to learn in FOREX trading. The reason we are even here and trading the FOREX market is to make money, right. Well in order to make that money you are also going to have to be able to sustain a few losses.

Lots of examples to illustrate this in real life on things that have nothing do do with trading. See if you can think of any if you cant then walk away now as your obviously expecting to find the "Holy Grail" : there is no such thing as 100% in FOREX just as there isnt in possibly anything else in life.

So , your still here . ok I will explain how to manage your trading money (note I used the term "trading money"; not to be confused with money you need to pay the bills or live off )

The way we manage our money is to only risk 1-3 % of your trading account balance per trade.

A trade is a very lose term a basically means per 1 lot or mini lot traded. (Lot size depends on account size and for $10000 accounts you should only be using mini lots )
Lets show an example.

you take a trade that we have sent you:
Buy on EUR/USD for example.
Take Profit is set at + 100 pips.
Stop Loss is set at -50 pips.

Your risk on this trade if you are using 1 mini lot on a 10k account is 0.5% of your account.

This is great . You could actually here use 2 mini lots to trade with . Total risk 1% of account. On the EURUSD pair it is currently worth $1 per pip of movement so if you are trading using 2 mini lots thats $2 per pip of movement . If trade hits Take Profit you bagged approx £200 if trade hit Stop you lost $100. you lost just 1% of account and you move on.
Now lets see what happens if you had used 10 mini lots with a 100 pip take profit and 50 pip stop loss.
If Trade hits take profit you bag $1000 ok nice .
Here is the bad news if trade hits stop loss you just lost $500 thats not good at all. How many times you going to do this ? Well on a 10k account its less than 20 trades and your account is blown.
This is not the way to trade.
The correct way to trade is to take low risk trades and build your account slowly . Set a goal for your account. When it hits that dollar amount withdraw a percentage .

Forex money management is a way of life .

Practice good money management and you just might be one of 5 out of 100 that will be in a position to make money from Forex Trading.

Do it poorly and you WILL be one of the 95 out of 100 that fail.

Here are some common trading myths and lies.

1.There is a holy Grail of trading .

Wrong!

There does not exist a system that provides 100% results forever.

Why? Because trading the markets cannot be predicted purely by computer based methods. Humans are always interacting.

2. Websites selling Automatic Robots running on MT4, Saying you will turn$1000 into $100,000 in 6 months .

Absolute crap. Dont believe it . If you do believe it what convinced you ? Some statement ? uh uh ...

I tested one of these recently. It was free it had to be tied into only certain brokers , which looking at the trades were some how getting extremely low spreads , this enabled this EA to scalp multiple lots with taking profits at 1-2 pips with 100 pip stop loss . When it went wrong , oh boy did it lose! oh and the broker was getting commision fees too.

3. "I know a trader who has a 100% record ."

Again absolute rubbish : Making losing trades is part of the profession . There is no trader that makes 100% profitable trades 100% of the time.

More to Follow :)