How to use signals correctly

[xSignals]

Hello traders!

The xSignals blog has a new article on how to use signals correctly and make the right decisions.

In this article, you will learn how to evaluate signal reliability using three tools:

Power reflects the statistics of successfully completed signals for the current value of the trend indicator for one timeframe. The higher the power, the more reliable the signal.

Heatmaps show the profitability of signals using various filtering indicators. The more trades closed with profit, the greener the marker.

Profit Factor is a coefficient of the effectiveness of a trading strategy, defined as the ratio of gross profit to gross losses. The trading system is profitable if the Profit Factor is greater than 1.0.

How signals work and about signal generation algorithms, read on the website in the How it works section.

Feel free to contact us at [email protected] for any assistance from our team, we'll be happy to help.

 

[forum.forex]

How to use signal correctly. This is very interesting. But you can tell us more about your experience here.

 

[Polakandil]

There are so many signal providers in the forex world like in the MQL5 community there are hundreds or thousands of signal providers, which may investors confused about how to choose the best one.

 

[xSignals]

There are so many signal providers in the forex world like in the MQL5 community there are hundreds or thousands of signal providers, which may investors confused about how to choose the best one.

Hello! Thank you for your interest!

xSignals is a complete set of analytical tools for trading on forex brokers and cryptocurrency exchanges.

xSignals app provides more than 10 tools for detailed market analysis: unlimited forex and crypto signals in one app, online charts, popular technical indicators.

With the help of all these tools, you will be able to conduct a detailed market analysis and confirm your trading strategy for a successful forecast. Also, our application works with any forex broker and any cryptocurrency exchange.

You can add a trading platform and trade in the same working window with signals or open signals in a browser window. Set up integration with a broker in order to use the possibility of automatic trading - place automatic Stop Loss and Take Profit orders, the indicators of which we have determined in accordance with our trading strategy.

Another plus: your own trading terminal, where you can keep track of all open positions, open and close deals manually, view the history of completed deals in order to analyze and correct your trading strategy.

You can test signals for some forex assets for free. Register at Forex And Cryptocurrency Signals In One App and get up to 25% discount on all PRO licenses within two hours of registration.

 

[xSignals]

How to use signal correctly. This is very interesting. But you can tell us more about your experience here.

Hello! Thank you for your comment!

To use signals correctly, you need to understand the structure of a signal and how it works.

The signal has a multifunctional structure, which consists of such indicators as:
- Analyzed trading asset (forex and crypto pairs);
- Orders. An indicator of the movement of the asset price, according to the indicator, Stop Loss and Take Profit are set;
- Time since the signal appeared - shows how long the signal exists;
- The time period of the candle timeframe in which the signal is formed;
- Signal generation algorithm;
- Heatmaps. The indicator is based on the history of signals and statistical information of the trading markets;
- BUY/SELL. Predicted signal based on the algorithm, historical and statistical indicators of the market;
- Power. Signal power is calculated from the history of successful signals in similar market conditions.

The signal also has a trading panel that allows you to place positions automatically.

In addition to signals, the application has a dashboard panel with the most popular technical indicators that will help you analyze the current market situation.

The dashboards show:

- Pivot Points help determine the next reversal levels;
- The Summary panel shows market sentiments of market participants in the form of a color scale;
- RSI and CCI indicate overbought and oversold zones;
- Bulls & Bears show the strength of buyers and sellers in the market;
- The trend indicator signals where the market might go.
- Volatility shows price fluctuations at the moment.

How signals work and how to use the app is detailed here What Are Forex Signals? How Are Crypto Signals Generated?

You can test the signals for free for some forex assets. Register Forex And Cryptocurrency Signals In One App

 

[Canoodle]

Signals may work in some cases but as the signal provider has no idea about what the trader is aiming at, they can turn the tables any time. Just wanted to ask if there is something like customised signals or traders have to use the ones sent on the basis of the provider’s analysis.

 

[Braggart]

I don’t prefer depending too much on signals. As you are not trading as per your analysis, you won’t understand how to handle a trade going in an opposite direction.

 

[xSignals]

Signals may work in some cases but as the signal provider has no idea about what the trader is aiming at, they can turn the tables any time. Just wanted to ask if there is something like customised signals or traders have to use the ones sent on the basis of the provider’s analysis.

Hello! xSignals is not an automatic bot for trading. xSignals is an analytical tool to confirm the trader’s strategy, based on statistical and historical data. Success in trading depends on the trader and the trading strategy.Learn more about how signals work here What Are Forex Signals? How Are Crypto Signals Generated?

 

[xSignals]

I don’t prefer depending too much on signals. As you are not trading as per your analysis, you won’t understand how to handle a trade going in an opposite direction.

Hello. Thank you for your opinion. That’s right, signals do not guarantee 100% success, xSignals does not trade for the trader, it is an analytical tool to confirm the trader’s trading strategy. You can learn more about the algorithms by which signals appear here What Are Forex Signals? How Are Crypto Signals Generated?

 

[Teropus]

You will be fine if you don’t use signals at all. See, there is no point in believing any random source with your hard earned money. It’s better to make a loss that you can understand than making a loss that you don’t understand.

 

[Alexandra Preston]

I won’t say that all the signal providers are frauds. But I don’t think that any signals can align with your goals. You are better off with your own analysis. So, trade when you are ready for the challenges or stay away from the market completely.

 

[Tumultuous]

I don’t know why but I don’t believe in signal providers at all. I mean it’s not easy to trust someone you don’t know personally. Moreover, when other traders will be benefited if you lose, I don’t understand why someone would want to help you in making money.

 

[Textuary]

Crypto trading signals can be a great way to make money in the cryptocurrency markets. However, it is important to use them correctly in order to be successful.

 

[TildaTilt]

Signals should be used to take advantage of a big market movement. When the price reaches a certain level, or the market has a certain pattern, a signal will tell you to enter. If the price doesn't reach the required level or there is no sign of a trend, then you should not use the signal. It is very easy to lose a lot of money using signals incorrectly.

 

[Aficionado]

I don’t trust signals that much. It can be profitable for some, but I don’t think it is a good way to trade. Majority of the time signals do not match a trader’s personal trading strategy, which results in a loss. I’d much rather prefer trading over price actions.

 

[Isometric]

I have never come across anyone who found success in forex by relying on trade signals. It is better to take up trades based on market analysis only. You can use some reliable indicators but even they don’t guarantee profits in every situation.

 

[skrimon]

Before juping into it, you can't guess clearly.

 

[Polakandil]

I don’t prefer depending too much on signals. As you are not trading as per your analysis, you won’t understand how to handle a trade going in an opposite direction.

It means you like to become a real trader because will rely on your own skills in trading than using signals, different from investors trader, they like to look the best signal, robot, copy trading, or PAMM manager to invest their money.

 

[LeoFx]

You have to avoid following others' signals because you can't trust others and it won't help you increase your knowledge level. Analyze the market yourself and Eurotrader sometimes provide signals to help their traders earn some profit.

 

[Polakandil]

Learn standalone I think making trading skills get improvement, however, each trader has their own choice, want to be a trader or investor trader, if one wants to be a trader learning is a process to improve trading skills, not an instant process, if want to be investors traders looking profitable manager is essential for long term business.