Good traders work hard, but the smart ones simply use the best forex signals available for their style and type of currency trading. Its use for entering and exiting trades removes all the “ifs and buts” and the human element in the equation. It provides a clear and simple indication of what the trader should do and when.
Ideally speaking, anyone should be able to this and make money trading currencies. Some traders even use it with an automated system (forex robot) which can work 24 hours a day and enter and exit trades on its own, without the trader having to do anything. Obviously, the first prerequisite would be to find the best forex signals that accurately predict trends.
The choice is made more difficult by the fact that there are a gazillion signals that can be used for free or bought. Many are specific to a currency pair (or pairs) and some cater to specific trading philosophies and/or strategies. A signal can be generated using either fundamental analysis, or be based on technical indicators.
As mentioned above, some may be automated and able to take actions based on a pre-programmed system that is hooked up to a trading platform. Others may be manual and would require the trader to be around in order to make use of it and place or exit trades manually. With a gazillion signal choices available to every trader, the all-important question is to find one that works better than the rest.
This is where it helps to have a tried and tested system like the Black Dog System. Anyone who opts for this package not only gets the core program, but also two mini trend finders that make it possible to increase trading frequency. The system will invariably sniff out good trades even for extremely short time-frames.
The success of this system at generating a high volume of accurate signals offers two lessons. First, that a good trading system needs a combination of signals, like Black Dog which makes use of three additional indicators on top of SES. Also, regardless of the efficiency and power of the system, it is important to have a solid support network to help traders.
This support includes free tools and other downloads, live training and a trader chat forum. Traders who are members can contact support via Skype and get help whenever required. There are no hidden fees and the Metatrader trading platform and real-time data are free, so once a trader has the system installed on the computer, the rest is just work.
That means simply use a Black Dog signal and enter/exit trades. No doubt there’s a learning curve, especially for new traders. But the important matter of what trade to place and when to do it is resolved by the system. The whole point of this being that instead of trying to spend countless hours figuring out what’s going to happen, traders can simply use the best forex signals to be found in the market and instead spend the time using it to place profitable trades.