A Forex Signal Service is the first of three methods of hands off trading that the forex trader may consider, the others being Automated Forex Trading Software and Forex Managed Accounts.
Forex signals are sent from a (generally) commercial signal provider; you subscribe and they either:
1) send you suggestions for trades, usually by email or SMS, i.e. a MANUAL process
orForex Signal Service Signal Tower Illustration
2) place trades automatically for you, by means of software that allows access to a trading account in your name, i.e. an AUTOMATIC process
Mostly the signals are based on technical analysis, though some services at least claim to incorporate fundamental analysis of prevailing market conditions into their signals.
Forex signals are sent from a (generally) commercial signal provider; you subscribe and they either:
1) send you suggestions for trades, usually by email or SMS, i.e. a MANUAL process
orForex Signal Service Signal Tower Illustration
2) place trades automatically for you, by means of software that allows access to a trading account in your name, i.e. an AUTOMATIC process
Mostly the signals are based on technical analysis, though some services at least claim to incorporate fundamental analysis of prevailing market conditions into their signals.
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