Saddeningly, most Forex traders lose despite closing over 50% of their trades at a gain. In fact, numerous reports have put the exact figure of losing Forex traders at approximately 96%. While that figure has been contested, the fact still stands that most of them, beginners especially, have a tough time getting their hang of the market.
At Gorilla Forex Signals, we believe that it does not have to be. So, we seek to provide signals that can lift Forex traders — both losing beginners and veterans — out of their losing cycle and help them take charge of their trading career. Moreover, we do not just delight in seeing our subscribers succeed and clinch more pips; we are committed to educating them, too.
Hence, this article will provide you with an introduction into the world of Forex Signals, their types and how you can start using them towards ensuring your trading success.
Introducing Forex Signals
By now, you should have already gotten a grasp of the basics of Forex trading. In fact, it is practically impossible to trade forex without learning about its basic terms such as currency pairs, base currency and quote currency, pip, leverage, and margin. Those concepts are fundamental to the business, and so must be thoroughly understood.
However, at the same time, it should be admitted that the market, especially at the start for beginner traders, can be hard to predict. Sometimes, you could think that it would go up, only for it to prove you wrong and go down. Other times, it is the opposite. Of course, those moments are always extremely frustrating for Forex traders.
In light of that, the usefulness of a reliable, well-established Forex signal service cannot be downplayed. In fact, such a service could be your ticket to your Forex trading success as a newbie who is trying to find his way in the convoluted world of Forex trading. At Gorilla Forex Signals, it is our goal to see your profit immensely with our forex signals.
What are Forex Signals?
So, what are Forex signals? Forex signals, as the title suggests, are alerts to notify Forex traders of the onset of any notable, concerted price action in the market. Essentially, they are recommendations about the right time to enter the Forex market, the right point to place your stop loss and the right time to take your gains.
Since the forex market is highly volatile, Forex signals have to be disseminated to their prospective users in real-time. This is why Forex signal companies communicate their signals to their subscribers via instantaneous channels such as,
- Proprietary Signal Websites
- Social Media (e.g. Facebook, Twitter, and Telegram)
- RSS Feed
Forex signals, irrespective of the means by which they are disseminated, must include important details such as the specific action to be initiated. That is, is the signal a buy or a sell? They are also expected to stipulate the specific currency pair on which that specific action is to be taken. The next section is dedicated to exhaustively discussing the elements of Forex signals.
Elements of Forex Signals
For any Forex signal to be useful, it must have certain essential elements. These elements will determine the exact steps that the subscriber will take, thereby forming the core of his trading decision. Those elements are:
- Entry Price: Compulsorily, a Forex signal has to contain an entry price. This is the price at which the recommended trade must be initiated. In fact, without the entry price, there cannot be a Forex signal as the subscriber will be utterly clueless about when exactly to take the recommended action on it. The entry price, also known as entry order or point, is the exact point at which your order will be filled, and can either be market or limit.
- Action: So, now that you have known the entry price, what exactly are you to do with it? Are you to buy, or sell? A Forex signal must be accompanied by an actionable directive. This directive can be to buy, to sell, or to hold. No matter what it is, you should know. Then, you should be like a hunter ready to fire immediately at the sight of prey. The Forex market is highly volatile, so timing is very important to make a kill in it.
- Status: The status of a signal is crucial. If you do not pay attention to it, you will either miss out on trades or take trades when they are not yet ripe to take. Also, you will end up always taking trades whose active periods have lapsed. Hence, you should know the three types of status, which are Active, Get Ready, and Closed. An Active Signal is on, meaning that you can still take it. A Get-ready Signal will be activated soon, so you should be prepared for it while a Closed Signal has already passed.
- Stop-Loss: Certainly, from risk management perspectives, stop-loss is the most critical element of every Forex signal. In fact, we recommend that you should not use any Forex signal that does not have a recommended stop loss. Such a signal will only draw you into the market, leave you alone to its storms, and wait for you until you are stripped. The Forex market is like a sea; without a stop-loss, you are not safe.
- Take Profit: Take profits are a crucial component of every sound exit strategy. They help to mitigate risks, by helping to minimize the downside potential. If you do not exit your trade at the optimum time, the market can reverse and erode all the gains you have already clinched. That is, the market can take away from you what it has previously given to you. To prevent this, you need your signals to clearly specify the points at which you take your gains. And also, always ensure to follow it.
Examples of Forex Signals
- Buy (Active) GBPAUD 1.5530
Stop Loss 1.5430
Take Profit 1.5585
- Sell (Get Ready) GBPUSD 1.6087
Stop Loss 1.5947
Take Profit 1.6030
- Buy (Active) USDCHF 0.9003
Stop Loss 0.9142
Take Profit 0.9070
- Sell (Closed) AUDUSD 1.0050
Stop Loss 1.0050
Take Profit 0.9976
How to Use Our Forex Signals
Forex signals should be straightforward. In fact, at Gorilla Forex Signals, that is one of our competitive advantages. We ensure that our signals are accurate to yield desired results, clear to understand and easy to execute. As a result, being offered 24/7, they have become widely popular with both beginner and veteran traders alike.
So, how do you use them? We understand that some traders might have issues with them. But it is easy. In fact, you can start using our Forex signals today by following these steps:
- Learn About Our Signals: Every signal service has a convention for the elements incorporated in its signals and the arrangement of those elements. Before you use our signals, you should think about them, too. Pay attention to how we arrange the elements of our signals and make sure you are comfortable with them first of all.
- Copy: This is the most critical stage, the stage at which you have to copy the signal directly into your trading account. It is important that you copy it as prescribed. That is, you should religiously execute each element as contained in those signals. Else, they might turn out ineffective. We do not want that and we know that you do not want that, too. Hence, endeavor to always copy our signals as directed.
Overall, with our Forex signals, we expect you to have a top-quality trading experience while also clinching pips for yourself. That is, with us, we want you to find Forex trading exciting and rewarding because, indeed, it is!
It is most likely that you have already read through a couple of Forex signal reviews which should have, at least, intimated you with the concept of Forex signals, and why they might be needed and applied to your trades. The fact is that most Forex traders fail and eventually quit the business. We are sure you do not want to be one of them.
But if you really don’t want to be, you should be genuinely committed to your success. And one of the steps to securing that is to subscribe to a trusted Forex signal company with a well-established winning rate. Also, the signals you decide to use should have the required elements that will make for clear and easy execution.
At Gorilla Forex Signals, our signals always have these essential elements clearly spelled out, also with a definite guide on how they should be used. This is one of the reasons you should subscribe to them. It does not matter where you reside, whether the United Kingdom or the United States, Canada or Australia, South Africa or Singapore, our forex signals will be disseminated directly to you via your method of choice, be it WhatsApp or Telegram. You can also find us on YouTube, Quora, and Reddit. Interestingly, they have also been independently verified by MyFXBook.
So, subscribe to them today and start reaping bountifully from the Forex market.
Choosing the Best Forex Signal Service I
Presently, there is so much ado about Forex trading. If you check the internet, you will find a lot of resources about it, touting it as the way to go for anyone seeking the ultimate financial freedom. Many of those enthusiasts even also go to the extent of displaying their cars and houses supposedly acquired with its proceeds.
However, at Gorilla Forex Signals, we befriend facts. And we want you to do the same, too. So, let us check the statistics to see if their claims are true. Shockingly, it is the opposite that you will get. The truth is: the majority of Forex traders fail to get a hang of the market. Most are failing. Many of those failing are hiding it. And only a few are succeeding. But the statistics will always reveal it.
From the numbers, you will discover that for most Forex traders, the situation is dire and something must be done about it. At Gorilla Forex Signals, we aim to help as many struggling traders as we can. Being traders ourselves, we have been through the frustration and desperation that all struggling Forex traders go through.
Introducing Gorilla Forex Signals
Shocked to see the massive failures among Forex traders, we came to the conclusion that the situation needed to be arrested. We have a strong track record of turning around struggling Forex traders into huge trading successes. We have done it for many and we will always pride ourselves on it.
However, we understand you could have your reservations. How do you handle Forex signals? Which one should you go for? How do you know the best? We have realized how paralyzing making those decisions can be. So, we do not expect you are making the almighty decision of which Forex signal service to use to be an exception.
But do not worry. We can help you. First, we would discuss the different types of Forex signals and then follow up with a checklist of the factors you need to consider before you choose a signal provider.
What Forex Signals are There?
Even though you already know what Forex signals are all about, you might still not know yet their types, the advantages and disadvantages of each, and how you can choose the most adequate type for your trading style and overall objectives. Importantly, Forex signals are classified based on factors such as,
- Method of Generation, and
- Strategy of Generation
That is, they can be generally classified according to the method and the strategy by which they are respectively generated. In light of the former, they can be either
- Manual, or
Considering the latter, there are two types of Forex signals, which are:
- Fundamental, and
Manual and Automated Forex Signals
Based on the method of generation, Forex signals are either manual or automated. Manual Forex signals are those that human analysts and traders develop and communicate freely to other traders via their blogs, websites, or social media pages (e.g. Facebook, Twitter, LinkedIn, and Telegram). This type of Forex signal is a product of human efforts dedicated to filtering the market and recognizing opportunities in it.
Automated Forex Signals, on the other hand, are created by robots. They are the basis of Algo-trading, a strategy of trading that uses algorithms to analyze financial markets based on historical price movements. The algorithms, which are developed using mathematical and statistical principles, aim to detect high-probability opportunities.
At this stage, you might be asking: manual or automated, which is better? There is no definite answer to that. Instead, you should be more interested in finding the one that is most appropriate for you. So, here is a comparison of both.
- Time: Even though manual Forex signals completely eliminate the need to analyze the market yourself, they are still more time-consuming compared to their automated counterparts. Why? Because with them, you still have to open your trading platform and enter your trades yourself. On the other hand, with automated Forex signals, execution is almost instantaneous, within a fragment of a second.
- Flexibility: When it comes to flexibility, give it to manual Forex signals. As far as automated Forex signals are concerned, you do not have any say in the matter and you are more or less a robotic follower of a robot. Since you cannot tweak any analysis, build your own strategy, and utilize the numerous learning resources on the web with them, you are actually not in charge of your account and trading. Instead, in the car of your trading career, you are only in the owner’s seat; the driver is the robot.
- Intelligence: Actually, this follows from the previous point of comparison, flexibility. One of the vital differences between manual and automated Forex signals is the kind of intelligence being put to use. While automated Forex signals use artificial intelligence, human intelligence is the most integral aspect of manual signals. And you know already that the latter is more adaptable than the former.
- Strategy: In advance, it is important you know that the nature of your trading strategy would be a significant determining factor of the type of signal you would use. For example, if you are a News Trader, it would be hard to use automated Forex signals. Why? Because automated signals, as earlier pointed out, are not as adaptable as their manual counterparts. When you are using them, you cannot follow the news; you can only follow the robot.
- Execution Speed: Expectedly, automated Forex signals are more swiftly executed than manual Forex signals. That is one of the benefits of their underlying algorithmic system. They result in fewer missed opportunities, too. So, if you care a lot about speed, automated Forex signals could be a better bet. Go for them.
- Market Range: Finally, you might want to compare manual and automated Forex signals on the basis of the markets they cover. Of course, automated Forex signals cover more markets than manual ones. This is easy to predict: manual signal providers often concentrate on a few currency pairs. So, their subscribers tend to follow them, too. On the contrary, robots can be programmed to cover multiple markets.
So, there you go, the differences between manual and automated Forex signals. By now, you should know the one you would want to use. But also, would you want your manual or automated Forex signals to be fundamental or technical? Wait to decide.
Fundamental and Technical Forex Signals.
Would you want either your manual or automated Forex signals to be fundamental or technical? You have to decide. But before you do, you should first understand what Fundamental and Technical Forex Signals are. Your understanding of the two types should ultimately serve as the basis for your choice.
Let us start here. There are many means of approaching the Forex Market. In fact, many of them. However, all those approaches have been successfully condensed into two: Fundamental Analysis and Technical Analysis. Fundamental Analysis is the examination of the various fundamental factors to understanding the economic performance of a country in relation to others.
These factors include interest rate, inflation rate, unemployment rate, terms of trade, Gross Domestic Product (GDP), and national debt. Each of these factors affects the value of currencies in specific ways. And depending on the specific factor under consideration, the value of the currencies can either go up or down.
Take the interest rate for example. The currency of a country with a high-interest rate is usually more desirable for investors compared to that with a lower one. That is because investors consider the one with the higher interest rate as a better investment, one that will generate greater returns for them. So, as their interest in such currency increases so does the value of that currency, too, leading to better exchange rates.
It is these effects that many analysts, traders, and investors — the so-called fundamentalists — alike watch out for in the exchange rates of many currencies. They then seek to use their understanding and knowledge of them to predict their next moves. Would that country increase its interest rate? Then its currency would make a better buy. This is how Fundamental Forex Signals are created.
Technical Forex Signals, on the other hand, do not care about those factors. Instead, they are generated based on the three assumptions of technical analysis that all those fundamental factors are already factored into the exchange rate, that the exchange rate behaves in patterns, and that its historical performance always tends to repeat itself. So, providers of this type of signals work on the belief that if an exchange rate had behaved in one way before, there are chances that it would behave that way again.
Now, you have identified the different types of signals. We expect that you have also gone through their comparisons to recognize the best for you. At Gorilla Forex Signals, we exist to give you the best of multiple worlds of signals. Subscribe to our service today and start your journey towards becoming a successful Forex trader.
Choosing the Best Forex Signal Service II
There are many Forex signal providers around. Check the internet. The advertisement efforts of many of them are conspicuous. In fact, based on that alone, you can imagine that it would be easy for them to draw anyone in. Indeed, many are drawn in, but only to end up being miserably disappointed with most of those signal services
As a result, you should be cautious. You should not fall for just any scheme. Instead, you should take your time to research and find out which of them would actually be best for your needs. And that is why we are here. When you are done with this guide, you would know whether we make the best fit for your trading career or not.
For how long has the Forex signal provider been in business? You should find out. It is a big deal to be consistently profitable trading Forex for years. Why? Because usually, many Forex signal providers often quit the business only within some years when the going gets tough and the shove gets rough. Do not take our word for it; you might want to confirm this yourself. The internet is full of stories of Forex signal providers that had to close their businesses because of that.
When the signals of a provider consistently fail, usually, it will not be able to maintain let alone grow its subscribers’ list. In the beginning, it might be able to attract some subscribers, but once those see through its lies, its business life is subsequently cut short. That is exactly why the lifespan or the longevity of a particular signal provider can be considered as a gauge of the quality of its service.
Gorilla Forex Signals has been around for years now, and we have only been getting stronger. Since our establishment, our list of subscribers has been growing and we are so excited about our growth. So, when you subscribe to our service, you will be joining a well-established signal provider with many years of experience.
Forex trading requires you to be a speculator, not a gambler. Sadly, many individuals, websites, and blogs parade Ponzi schemes and other dubious vehicles as legitimate investments. Most of them are false so do not be fooled. One of the ways by which you can ascertain the genuineness of any scheme is by checking for the returns it promises.
And here is our advice: be wary of any Forex signal provider that promises outrageous returns. Your litmus test? Any that makes promises of excessive returns would most likely be false. So, you should be wary of it. Instead, a good one only needs to have a decent winning rate: around 70-80% is fine. With such, 7-8 of every 10 trades you take can be expected to be winning trades.
If you are able to effectively manage your losses on the remaining lost 3, you would still be a profitable Forex trader. The drawdown statistics — the number of potential losses your account would suffer using the signals — is an important factor to watch, though. That is, it should never be too high. Else, the signal service would be as useless as having none at all.
Nevertheless, do not be deceived. Be realistic. A 100% winning rate is impossible in the Forex Market. In it, everybody loses sometimes and even a winning rate of 90% is far-fetched. Forex signal providers that promise outrageous returns often do so only to attract gullible traders to sign up for their services. While granted, that is not a sustainable way of attracting and keeping customers, it seems to work for many of them.
At Gorilla Forex Signals, however, our goal is to ensure that you do not fall for any fraud. Promises of outrageous, impossible returns are a fraud. You deserve better. And when you subscribe to our service, you would get that better service that would make your trading account better and would also leave you a better Forex trader.
Method of Delivery
So, what are the methods of delivery of the signal provider? How many are there? As far as means of signal delivery is concerned, is the signal company versatile enough? There are many means by which a provider can be delivering its signals to its subscribers. Those channels can be its website, blog, social media, email, SMS, or RSS feed.
First, ensure that the signal provider you choose to subscribe to supports multiple methods of delivery. One that would not give you the liberty of choice would only stifle you. You might be forced to go for one of the few ones it offers anyway if your desired method is not available. So, it is critical that you first confirm that before you choose.
Then, it is important you note also that none of these ways is better than the other. That is, it cannot be said that the website is better than blog posts or that social media are better than email or SMS is better than RSS feed. In actual fact, what matters is you picking a convenient channel for you. Hence, if you are most comfortable receiving your signals via blog posts, indicate that while subscribing.
Also, if you would like to be getting your signals via your WhatsApp or Telegram, state it, too. However, since timing is critical to the execution of signals, we strongly recommend that your method of choice should preferably be real-time and easily accessible by you. Gorilla Forex Signals, in this regard, has got you covered.
We offer multiple means of signal delivery — from email to social media and from SMS to blog posts. Our signals are real-time: they always truly reflect what is happening in the market at the particular points in time that they are being disseminated. So, what more are you looking for?
Ease of Use
Signals should be easy to use. Definitely, a provider that gives out complicated signals is one you would not want to use. Hence, it is important that you examine a Forex signal provider also on the basis of the user-friendliness of its signals. Else, it might even be hard for you to record any meaningful success with a complicated kind of signal service.
Ideally, for a Forex signal to be useful at all, it has to comprise some specific elements on which the subscriber is expected to act. This is why it has to be as straightforward as humanly possible. A Forex signal provider that would further complicate your trading is one you definitely should stay away from.
In this regard, with Gorilla Forex Signals, you are in luck. Our Forex signals are easy to use and can be integrated into any trading platform of your choice. And that is because of the fact that user-friendliness is important to us.
Risk Management should normally be an integral component of every effective Forex trading strategy. In fact, considering the possible immense volatility of the Forex Market, you should never get close to it without protecting your trades. Fortunately, most Forex brokers already provide many tools for you to cap your risks. An example is the stop loss.
Since risk management is so important in Forex trading, the particular signal service that you use should help you in that regard, too. In fact, a signal provider that actually knows its onions should always accompany its signals with recommended stop-loss. At Gorilla Forex Signals, we excel at this. We never, in any way, underestimate market risks.
As a result, we ensure we have a strong risk management strategy. That way, we are always able to give our subscribers limited drawdown on their trades.
Gorilla Forex Signals is the way to go if you care about a sterling reputation, easy and convenient access, user-friendliness of service, decent returns on your investment, effective risk management, and overall fulfilling trading experiences. Beyond our service description which is the provision of reliable Forex signals, we are also excited about becoming your most important partner in your trading career.
Hence, subscribing to our signal service is equivalent to subscribing to your overall trading success. With our Forex signals, you would be placing only high-probability trades, recording a decent winning rate, and growing into a proficient trader that can approach the market by himself. Hence, get started with us. Now.