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Free Forex Signals – The World of Effective Forex Market Trading
Free Forex Signals are predictions made by professional Forex traders or Forex robots for entering a trade on a specific currency pair and at a certain time and price.
Forex or Foreign Exchange is a decentralized global market for trading currencies. It is the largest and most active international market in the world.
Just imagine: its daily turnover is more than $5 trillion! It is more than the total turnover of all national stock markets. Participants of the Forex market are banks, pension, and investment funds, as well as huge corporations and private investors with mind-blowing capital. The minimum transaction on Forex equals $1 million.
However, Forex has another meaning.
It is also the name of the market where players predict the growth or fall of the exchange rates. Considering the size of this market, it’s obvious why free forex signals software is so popular.
Every day we are asked where to find free forex signals that would bring profits and not headaches.
We understand your worries and know how to distinguish a reliable provider from a scammer. And today you’ll learn the truth.
First things first, you should know that this trading market was organized by forex dealers.
They offer people to take part in the game: to predict the exchange rate against another one and to make a deal with the forex dealer.
If the prognosis comes true, the player earns. If not – the dealer takes the money.
The best part is that participants don’t need specific equipment or lots of money to start trading. The only thing required is a trading terminal with Internet access. There are even mobile applications that access Forex.
But it doesn’t mean that you will make millions on Forex because the risks of losing everything are sky-high. Luckily, free forex signals online with real time allow minimizing these risks.
Today we’ll introduce you to the main concepts that you’ll face when learning how to trade on Forex. After finishing the article, you’ll be able to define Bid and Ask, Pip, margin trading, and other vital terms.
Are you ready to become a part of the Forex trading story?
Bid and Ask
To make profits, money changers always had to indicate the difference between the purchase and sale price. And this method is still applied to every financial market.
On the Forex market, you can find Bid – the purchase price of the trader and Ask – the cost of selling the currency to a trader.
The distance between these two prices is called the spread, which makes profits of the dealing centers.
If you want to stay in the win, we recommend not only learning the theory but applying data of free forex signals online with real time that can tell when to get the maximum profits.
For example, when the value of EUR rises by one pip, it means that its value has increased by €0,0001.
Sounds boring? You will think differently when joining the best free forex signals Telegram because pip is one of the concepts you should know.
If you think that dealing centers are the Robin Hoods of our time, you got everything wrong.
They also want to make money; that is why to freeze a part of your funds on the deposit when a deal is made. Such a guarantee is called margin.
When using the best free forex signals, traders can see the margin and other necessary indicators.
Forex signals are reliable and can give you all the details about a possible trade.
If you’re already familiar with a few free forex signals online but find some figures too complicated, let us try and put it simply.
Financial markets are created in such a way that when conducting a transaction, you automatically get a more significant sum than initially invested. Thus, every trader receives a loan.
The ratio between the received amount and the collateral is called leverage.
For example, if there is a 1:100 leverage, after buying 100 currency units, a trader can manage 10,000 units (100 x 100).
However, these calculations are not available when receiving free forex signals online with real-time messages, so you should know the basics in advance.
The leverage may differ from one dealing center to another. But the more considerable leverage may be rather tricky.
When agreeing on these conditions, beginners only care about more significant profits in winning transactions and forget about the fact that losses will also increase significantly. As a rule, this quickly leads to losing the whole deposit sum.
To avoid lawsuits if the trader’s losses exceed the existing deposit, dealing centers carefully follow margin call trader’s activity.
Even though it sounds confusing, the mechanism is rather simple:
- If the losses exceed the current margin, free deposit funds are used;
- If account’s balance equals a certain margin percentage, all trades are automatically closed;
- Trading is possible only in small volumes if there are enough funds on the account or after funding the deposit.
In other words, a margin call is a dealer’s request for the financial security of a current pledge.
If you don’t have a Ph.D. degree in finance, all the above may sound like abracadabra.
Luckily, forex signals providers took care of everything, and you can find polished information without diving too deep into details.
When joining forex signals channels, users get all the necessary details and even theoretical knowledge for future success.
And if you do have a Ph.D. degree and trading experience, you can sell Forex signals on Telegram and other platforms.
Free forex signals online are the future of trading, so don’t stand aside, turning into hodlers, who are too afraid to risk and change anything.
Foreign exchange assumes that the deal consists of two currencies, which shape a pair.
One of the coins is called the base one and the other – quote. When joining the best free forex signals Telegram, you will face these terms quite often.
For example, GBPUSD or GBP/USD.
On the left, GBP is indicated as the base currency – the one, which you purchase or sell.
On the right, USD is the quoted currency, which shows the value of the base currency.
If you want to get access only to the freshest data, we recommend choosing signals from traders. For now, the best place to get forex signals is Telegram, which is not only secure and encrypted but also has useful functionality.
Features of the Forex Market
Supply and demand are the engines of any trade. Thus, prices on Forex are formed based on the agreement of two parties. If you join the best forex signal Telegram group 2019 or at least a reputable one, you’ll be able to trace the influence of price fluctuations on the market.
Here are the main features of the Forex market that you should pay attention to:
The initial aim of creating the market is currency exchange. Market relations allow trading at favorable exchange rates, and thus, Forex became another place for making money.
Considering that central banks of different countries conduct currency interventions to stabilize their national currencies, why should individual traders stay aside?
Unfortunately, being an office worker with a limited deposit is more stringent than a billionaire investor. Luckily, you have forex signals, which can compensate for a lack of skills and experience.
No geographical connection to a physical exchange platform
Anyone can trade on the Forex market, and it doesn’t matter where you are from Portland or Delhi. Forex trading can be carried out by using particular software, which is installed on a personal computer or portable device.
Free forex signals online are also supplied without being tied to location. And even though we can’t say what the best forex signal app is, it’s evident that reputable ones are all good for fast and limitless trading.
Diversity of players
Here you can compete with majorities (for example, commercial and investment enterprises or central banks), trading companies, and individuals.
When Is the Best Time to Trade on Forex?
After joining a forex signals channel, you will see that notifications may arrive, not depending on the time of the day.
And it’s not surprising: Forex market never sleeps.
To become a successful trader, you should know when to trade and when to wait. No matter what your expertise level is: knowing when the Forex market is open is one of the first things to learn.
Luckily, the best Telegram forex signals 2019 are supplied with necessary details, so you don’t need to process vast volumes of information.
But we still encourage you to read further and familiarize yourself with the schedule of the market. First of all, you should know that Forex is open 24 hours, five days a week.
So when is the trade opened and closed? Let’s discuss four markets (hours given in the Eastern Standard Time):
This Forex market is open from 8 AM to 5 PM and is the second-largest platform in the world. It’s not surprising because the USD is involved in more than 90% of trades.
Changes in the New York Stock Exchange immediately influence the US dollar: when companies are bought or merge, this currency may instantly lose or gain value.
If you are not ready to follow the market losing sleep and patience, entrust it to one of the free forex signals Telegram channels.
Tokyo market works from 7 PM to 4 AM and has the most significant share of all the Asian trading operations, outrunning Singapore, and Hong Kong. The most popular currency pairs are USD/JPY, GBP/JPY, and GBP/CHF. The first pair is especially important to follow when other markets are closed due to a huge impact of the Bank of Japan on the tendencies.
But if you want to sleep soundly instead of pouring the fifth mug of coffee, joining free forex signals online channel is a great solution.
Sydney market is the one, which officially opens the trading day. It works from 5 PM to 2 AM. Being the smallest of the vast markets, it still has its share on Sunday afternoon, when traders and institutions regroup after the two-day pause.
You probably know that the UK leads the worldwide currency market. Thus, following its changes from 3 AM to noon is crucial. London is called the trading capital and has almost 35% of all financial operations.
This city also has a significant influence on currency changes because the Bank of England is located in London. Keep in mind that many Forex trends route from the London market.
Here’s a piece of valuable advice:
The best time to conduct any trades is when open markets overlap. This leads to higher price fluctuations and more opportunities. Here are the three daily overlaps to benefit from:
New York/ London. 8 AM to noon. Over 70% of operations are conducted when these markets overlap because EUR and USD are the two most valuable currencies. Thus, this time is perfect for trading;
Sydney/Tokyo. 2 AM to 4 AM. Even though this overlap is not so volatile, it still gives traders good chances of earning. EUR/JPY is a great currency pair to stick to;
London/Tokyo. 3 AM to 4 AM. This short overlap may not be as dynamic as the two above because the majority of US traders are sound asleep, but it still gives a chance to watch as pip changes take place.
Deals on the Forex Market
Drawing information from free forex signals Telegram channels is always a great idea.
Especially for traders who want to save their time.
But if you want to get more details, you won’t do without understanding how the deals are conducted.
First of all, you need to choose the trading pair – the base and the quoted one. Your goal is to predict how the exchange rate of the quoted currency will change to the base one.
If you’re sure that the rate will increase, open the purchase deal. If it drops, open the sale deal. And if you doubt, consult your free forex signals online guru.
Most of the time, USD is the base currency. For example, you’ve chosen EUR as the quoted currency. Thus, your pair is USD/EUR.
Let’s assume that you are expecting that the euro will increase in value compared to the dollar. At the moment its price is $1,215. You open a $100 purchase deal. In reality, EUR doesn’t land on your bank account and is simply reflected in the forex dealer system.
Suppose that in one day, the EUR price increases to $1,245. You think that it won’t go up anymore and close the deal fixating the profit: $ (1,245 – 1,215) x 100 = $3.
Forex dealer sends $3 to your real bank account, and your deposit increases. But if the EUR rate drops to $1,195 you will lose $(1,245 – 1,195) x 100 = $5. And this will be the dealer’s profit. And don’t forget that you’ll be additionally charged with a commission for the services.
Finding it difficult to fit everything in your head?
Then go directly to the trusted forex Telegram group 2020 and let others process the data instead of you!
Things to Consider When Trading Forex
Apart from subscribing to a free forex signals Telegram channel, we have made a list of a few rules that any trader should stick to.
The exchange rate is not that volatile: during a single day, the difference usually equals one-hundredth of a percent. Thus, when making deals only on the deposit sum, it is almost impossible to earn big.
That is why traders use leverage. This means that a Forex dealer can give you a virtual loan: real money won’t land on the account, but the leverage will provide you with a chance to increase the order sum. And you won’t have to be limited with the funds you have on a deposit.
Information on the leverage, as well as its underwater stones, can be easily found on free forex signals online channels. Just make sure you use a reliable free forex signals Telegram link not to infect the device with harmful software.
Be aware that this sum can be lost at any time because losses are inevitable. However, Forex dealers won’t allow losing more than you have on the deposit and will close the order forcibly.
As rule Forex programs allow limiting the losses. Such a feature is called stop loss and can be used if you don’t want to spend all the deposit at once. Stop-loss allows closing the order automatically once the losses reach a specific limit.
If you decided not to choose the most straightforward way of joining a free forex signals Telegram channel, let’s share a roadmap of your future actions:
Obtained skills can then be improved on a cent account with real money and low risks. If you lose, the sum will be insignificant. And only after the stages above and gaining the necessary experience, you can create a real dollar account.
But even then, we recommend joining a free forex signals Telegram group, monitoring the situation, and getting advice from market experts.
Forex market is a depository for traders, who are familiar with currencies and exchange rates. And for those who want to make money while waiting for their crypto assets go to the moon.
By now, you have all the necessary theoretical knowledge to start the Forex journey: you know what Ask and Pip are, are well aware of when it’s better to trade, and what things to keep in mind.
However, the theory is pointless without practice. If you want to speed up the process, we recommend joining a reliable free forex signals Telegram channel and getting updated information from professionals.
Forex signals act as one of the instruments in your trading arsenal. Subscribe, read updates, and deepen your knowledge without paying a dollar.
And of course, follow our articles to dive deeper into the world of trading.