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What is a forex signal?

 A forex signal is a trading recommendation. It gives the user specific details on a currency trade, which could include price, time and possibly stop loss levels. The signal could be computer generated, for example, from a software programme or a robot, or it could be generated by a human. The signal is sent to the user, usually via email, twitter, SMS or RSS.

 

These signal systems are used by traders all over the world, to help them with trading decisions. It is important to understand how these signals could assist you and their importance in trading. Let’s take a look at the two different types of foreign exchange signals:

 

Manual forex signals – A trader studies the market looking for buying and selling opportunities before taking a decision to buy or sell a particular currency. This is potentially very time consuming and can be very objective. However, as a positive, a human trader can pull out of trades if he considers that the market is showing signs of unpredictability or is behaving in an erratic fashion.

 

Automated forex signals – These are trading programmes which interpret market movements and say whether to buy or sell a particular currency accordingly. These programmes or robots as they are also called, can be quite reasonable accurate, if they have been created by a knowledgeable professional. The clear advantage of the automated forex signal provider, is that it can analyse a huge amount of data in comparison to a human trader. This means that you could receive signals for multiple currency pairs and across a 24-hour period, throughout the trading week. You are unlikely to miss an opportunity.

 

The most sensible strategy is to use a combination of both. Even if you use forex signal, it is important that you understand the basics of trading fx. This way you an understand what you are trading and the signal you are receiving. The majority of signal providers will allow you to have a trial period. In this period test the information you receive to check that it is of a high quality.

 

Whilst signals are never going to give you 100% profits, if you chose one carefully and use it wisely, then you have more chances of building a winning trading account.

 

Where can I trade signals?

Vantage FX is an award-winning ECN Forex Broker, based in Australia. They provide several high spec trading platforms including MetaTrader4 and a mobile app among others. Vantage FX offer transparency, true ECN spreads and unparalleled execution speed. To apply for an account visit the Vantage FX website: www.vantagefx.com.

forex day trading

Forex day trading with currencies in 24 hours

 

In this article we are going are going to inform you on how you can trade for money in a short period of time. After reading this article you will know what Forex Day Trading is all about. Don’t worry even if you have never trade before, this article will help you to understand what forex day trading is. Once you know what it is, you can trade by applying some of our techniques that’s been written in this article.

How does Forex Day Trading work?

Forex day trading is one way of performing foreign exchange trading within a time frame of 24 hours. You can open and close as many positions as you want in a day.  Sometimes its better to hold a position over night.When this happens, your deal will be automatically renewed at 22:00 GMT each night until the deal closes. There is something that you should know upon the renewal you will be charged a fee for rolling the deal for an extra 24 hours. This fee will be collected once a day when the deal is renewed. The fee will be collected from your Free Balance. And if by chance you don’t have a sufficient free balance then your credit card will be debited. If you don’t have a creditcard , then next time you have a free balance and execute a withdrawal from your account, the amount owed due to non-payments of the rolling fee will be deducted from the amount you have withdrawn.

Now back to answer the question on how to trade for money with forexBefore you open a position to trade, you will need to have a trading plan first.

Our strategy

If you want to know of how we set up a trading plan, then you can read it here: Trading plan

What we do when we have  a forex day trading is as follow :

  1. Determine the market condition (trend) of each currency pair. If you want to know of how determine a market condition then you can read it here : Determine Market condition with technical analysis
  2. Then make a trading plan
  3. We then look at the economic calendar to see which data release can have an impact on the forex day trading currencies. We usually look at the economic calendar of investing.com
  4.  After we found an interesting currency pair to trade in , we then use the one minute chart and hourly chart to see for which price point should we buy in the market. To determine the price point we have to indentify  the market cycles or the support and resistance lines in one minute chart and hourly chart.

All of these steps together takes only around 20-25 minutes to do it. The more often you do it the lesser time you will need to do these four steps.

Yes, it is possible to trade with 100 euro and be good at it

[member]We at www.101trading.co.uk trade in Forex with CFDs. The reason for it is that you can make more money as you have a high leverage ration. At Plus500 and Markets the leverage ratio is 1:200. What that basically means is that for every 100 euro that you are investing you are basically investing 20.000 euro. The forex market is a big market therefore if you want to trade in currencies you would need a lot of capital for a small gain, with CFDs you don’t have to and profits are higher because the leverage advantage. If you want to know what the forex market is then you can read it here : Forex market

The other day i didn’t have much time but i wanted to show a friend of mine that can you make money in forex day trading within a time frame of ten minutes with 100 euro. See the picture below for the result of that trade.

Forex day trading profit in small time window

Make money with 100 euro in forex day trading

 

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