Signal Providers

1. Who are they?

Signals providers are people  who open companies or websites which provide traders with orders that contain information on when to buy or sell a currency.

Signals providers send their signals to their traders by means of the following ways:

1- By Email

2- By SMS

3- Post them on their website (only accessible to its members)

The signals are sent or posted according to the policy of the provider:

1- On a certain time each day

2- On an arbitrary time, where the signal is issued

The second option does have its drawdown, where the trader should request the signals to be sent by sms to him, so that he can receive them at once. However he should have also an internet connection always on hand to be able to use the signals. Another drawdown to the second option, is that the many times the trader won't be able to enter the market at the requested price, as the prices move quickly at the time the signal is issued.

Many signals providers use the stop losses and take profits with their signals. However, there are some signal providers who use a "keep posted" policy. This means that the provider could change, update, his signals at any time of the day. Others, use the "set and forget" method. Where the signal, the stop loss, and the take profit remain valid until the position is closed by either hitting the stop loss or take profit.

From my experience, there are only a few honest signal providers among thousands scattered all over the net. In order to be able to choose an honest one, you have to read the next chapter of "How to choose a signal provider"

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