Traders are Turning to Forex Signals During Times of High Volatility
The financial markets – and forex in particular, is currently in the midst of unprecedented times. One only needs to look at the recent volatility levels of major currencies like the pound sterling, euro, and US dollar to recognize that trading has never been more challenging. Crucially, more and more traders are now turning to forex signal services to help gauge which way the markets are likely to go.
UK-based signal provider Learn 2 Trade notes that they have received a recent surge in account sign-ups – owed partly to the ongoing threats of global pandemic COV-19. In doing so, subscribers receive trading suggestions in real-time via channels such as Telegram and email.
With trading suggestions deriving from automated algorithms that scan the forex markets 24/7, this ensures that investors are in the know as soon as an opportunity presents itself. After all, seasoned traders know first-hand that volatile forex markets are often the most conducive for making gains.
Why are People Turning to Forex Signal Providers?
For those unaware, forex signals are trading suggestions that are sent to subscribers in real-time. Rather than basing the suggestion on human subjectivity, providers like Learn 2 Trade utilize the ever-growing capabilities of artificial intelligence.
In its most basic form, the underlying technology will scan heaps of forex markets – such as GBP/USD and EUR/USD, constantly looking for potential trading opportunities. It does so through the assistance of technical indicators.
Once the software does find a tradable opportunity, it will then send a notification in real-time to its subscribers, containing the relevant entry and exit points.
Seasoned traders will often point to the fact that they are able to gauge which way the markets are going to go without the assistance of automated technology.
Learn 2 Trade explains that although this is true to a degree, the signal provider argues that human analysis is severely limited. In other words, while an experienced trader can manually assess a specific forex pair throughout the day, there are only so many pairs that they can effectively analyze at any given time.
On the contrary, forex signal services that are backed by automated technologies have no limits. As such, they can scan as many currencies as the provider wishes to, without the fear of market irrationality, fatigue, or emotion – 24 hours per day Instead, everything is based on the pre-defined conditions that the AI technology is programmed to follow.
What Happens Once a Forex Signal is Sent?
Those that subscribe to forex signal providers like Learn 2 Trade will receive a range of data once an opportunity presents itself. The provider explains that most of its subscribers opt for Telegram, although others prefer email or RSS feed. Nevertheless, at the forefront of the signal is the relevant entry and exit prices.
For example, let’s say that the signal identifies that EUR/USD is heavily overbought due to a surge in demand for US dollars. As such, the suggestion might advise the subscriber to place a sell order at an entry price of 1.0824. Even more importantly, the signal will advise the trigger price on both stop-loss and take-profit orders.
Learn 2 Trade explains that this ensures that subscribers are well protected in the event that the markets go the wrong way. With that said, the beauty of forex signal services is that they offer an element of flexibility. For example, although you might allow the signal to lead with its entry and stop-loss trigger prices, you might want to install a more risk-averse take-profit order.
Crypto Signals Proving Just as Popular
It is important to note that increasing demand for signal service providers is not exclusive to just forex. In fact, providers are seeing more and more demand on the crypto side. For example, Bitcoin volatility levels are extremely high at present, making it difficult to trade the asset manually.
Instead, traders are looking to signal providers like Learn 2 Trade. Once again, although volatile markets can be daunting to trade, they do present ample opportunities. Many of these opportunities – especially in the crypto arena, allow traders to target large gains while at the same time – rely on the installation of sensible stop-losses.
In particular – and much like the global forex markets, the cryptocurrency trading scene operates on a 24/7 basis – so subscribers all over the world have the opportunity to capitalize on a trade signal that requires immediate attention.
In summary, with inexperienced traders finding it difficult to navigate their way through the turbulent market conditions currently in play, more and more investors are turning to forex and crypto signal service providers for assistance.
With providers like Learn 2 Trade now offering new customers a 30-day money-back guarantee, this allows you to test-drive the signal service prior to making a long-term commitment.