Forex: Getting email signals for trading

You do not know me but I read a column you wrote in The Punch, which I find very interesting because I also trade in forex though I am a beginner. I would like to know how somebody could get an e-mail signal before entering a trade.

You can get forex signals by email if you have an arrangement with the signal generator. Very often, they will charge for their services. If you know a good trader that uses Metatrader 4 and he or she is willing to give you signals, it can be easily configured on their computer with a small script, such that every time they make a trade, their Metatrader 4 terminal will send an email with the parameters of the trade to your email.

It can also be configured such that the terminal sends the email signal to an email group for distribution to the group members.

In addition, the terminal can send the email to an Email- To-Sms gateway, which then sends you the signal by sms, or distributes it to a group of mobile numbers.

This way such a trader makes extra income from selling trade signals at no extra cost or labour. Usually these signals arrive at least a minute late, so if the traders strategy is a very short term one (scalping) that targets anything less than 20 to 40 pips gain or uses a stop loss just as tight, the signal may be dangerously late.

For longer term daily or weekly trades however, it should be alright, provided the signal generator was right. You can run a search online for forex email signal providers.

Just remember that the signal is only as good as its generator, so you would need to do some due diligence on the signal generator‘s strategy and previous performance.

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