Obviously to have 24 hour a day monitoring of the Forex Market is a great benefit. But there are other benefits as well, for example: A trader may have been experiencing a difficult week in the market, he sees a Buy opportunity but he is hesitant to pull the trigger. If the trader received an alert to buy on the same currency it may give him the confidence to proceed. Another side benefit is trade strategy. When you have confidence in the trade alerts you are receiving, you can focus more on your trading strategy than looking for trade opportunities. Every Forex signal sent to subscribers is considered for risk reward ratio, probable pip move and other factors. Many traders new to the Forex market find a whole new world of strategy by just following along with the signals. This can help traders learn Forex lot management and trading multiple lots to maximize profit potential.
Forex signal is a suggestion for entering a trade on a currency pair, usually at a specific price and time. The signal is generated either by a human analyst or an automated Forex robot supplied to a subscriber of the forex signal service. Due to the timely nature of signals, they are usually communicated via email, website, SMS, RSS, tweet or other relatively immediate method.