When forex or equities traders are looking to subscribe to a signal trading service, they are usually looking for four main components First, what time of day can you expect the trade signals to be provided.
Secondly, how will the trade signals be delivered? What Time of Day Are Trade Signals Provided? In the event you trade equities, you will need to determine which market (DOW, NIKKEI, NASDAQ, etc) you will do the majority of your trading and the hours of those markets.
You will also want to make sure the signals that are provided are appropriate times for those markets and your own trading hours.
Trading equities usually doesn't pose an issue with the timing of trade signals as the forex market.
This is because the forex market is open 24 hours a day.
Now for forex traders, you have to determine what hours of the day are your trading hours and what hours of the day the service provides most of their trade signals.
If you are in the United States and you trade during the day, you won't want a service that provides you signals during the night as you won't be able to execute them as they are received.
So make sure you are in alignment with your trading hours.
How Will the Trade Signals Be Delivered? Now this may be one of the most important factors of a signals service.
Some traders do not want trades automatically opened on their accounts and this is exactly how some trade signals work.
For instance, their may be one trader behind the entire service and when they execute the trade, they will use a trade copier for their service which will open the same trade for everyone subscribed to their program.
Some traders may enjoy not having to open the trade themselves, but others will want to analyze the trade recommendation prior to actually entering the trade, so you have to determine how the trades will be delivered and if you are comfortable with this.
Other ways they can be delivered is by email, SMS messaging, or a pop up.
This will allow the traders to view the trade signal and do their own research of the market to see if they agree with the signal or not.
Then it would be up to the trader to execute the trade according to the signal.
One thing to note here is that if you are comfortable with a trade copier that will automatically open positions for you, then you may not have to worry about when the signals are provided as you wouldn't be doing any analysis on the signals prior to them being opened.
So the timing of when the signals came in would not matter.
Lastly, it was not mentioned above about cost, but as you can imagine it's a very important factor.
Only the user can really identify whether the cost is priced accurately for them as everyone has different situations.
They have different amounts of capital, they have different amounts of trading time available so all of this would have to be analyzed by each individual to determine if a signals service or software would be a wise investment or not.
Secondly, how will the trade signals be delivered? What Time of Day Are Trade Signals Provided? In the event you trade equities, you will need to determine which market (DOW, NIKKEI, NASDAQ, etc) you will do the majority of your trading and the hours of those markets.
You will also want to make sure the signals that are provided are appropriate times for those markets and your own trading hours.
Trading equities usually doesn't pose an issue with the timing of trade signals as the forex market.
This is because the forex market is open 24 hours a day.
Now for forex traders, you have to determine what hours of the day are your trading hours and what hours of the day the service provides most of their trade signals.
If you are in the United States and you trade during the day, you won't want a service that provides you signals during the night as you won't be able to execute them as they are received.
So make sure you are in alignment with your trading hours.
How Will the Trade Signals Be Delivered? Now this may be one of the most important factors of a signals service.
Some traders do not want trades automatically opened on their accounts and this is exactly how some trade signals work.
For instance, their may be one trader behind the entire service and when they execute the trade, they will use a trade copier for their service which will open the same trade for everyone subscribed to their program.
Some traders may enjoy not having to open the trade themselves, but others will want to analyze the trade recommendation prior to actually entering the trade, so you have to determine how the trades will be delivered and if you are comfortable with this.
Other ways they can be delivered is by email, SMS messaging, or a pop up.
This will allow the traders to view the trade signal and do their own research of the market to see if they agree with the signal or not.
Then it would be up to the trader to execute the trade according to the signal.
One thing to note here is that if you are comfortable with a trade copier that will automatically open positions for you, then you may not have to worry about when the signals are provided as you wouldn't be doing any analysis on the signals prior to them being opened.
So the timing of when the signals came in would not matter.
Lastly, it was not mentioned above about cost, but as you can imagine it's a very important factor.
Only the user can really identify whether the cost is priced accurately for them as everyone has different situations.
They have different amounts of capital, they have different amounts of trading time available so all of this would have to be analyzed by each individual to determine if a signals service or software would be a wise investment or not.
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