For those investors who seek large, quick, and regular profits, day trading is the best solution. Furthermore, you can practice it, even if you do not have much free time. Due to specialized signals, you can save several hours per day as a minimum. Choose a trustworthy provider and make use of each advantageous opportunity created by the market.
What is a signal? In simple words, it is a notification informing a subscriber about available trading opportunities and prompting which positions to open or close within a specified period. Such messages are often compiled by advanced traders based on their own experience and practice.
You can select from 3 types of day trading signals:
- Providers. These include both individual experts and companies distributingsuch notifications via their own websites, Telegram channels, or other communication means. Among the most trusted ones ― Zignaly, Learn 2 Trade, ForexSignals.com, AvaTrading, FXPremier.com
Pros:
- multiple signals throughout a day;
- ease of use;
- no prior education is needed;
- one can execute more trades without extra effort.
Cons:
- some providers charge fees;
- there is a risk that a provider chosen will make a mistake.
- Copy trading. Such a service is designed for those seeking full automation. It involves copying trades performed by a chosen successful trader. The software does all the work on its own without requiring any effort or attention on the part of a trader. Yet, it is still advisable to check your progress from time to time to make sure that the trader chosen shows a decent record. You can try this instrument on eToro, RoboForex, ZuluTrade, MQLP5, MyFxBook Autotrade.
Pros:
- one earns money in a fully passive and automated method;
- one needs to spend virtually no time on trading.
Cons:
- there is a risk of a loss, although it is minimal;
- due to the lack of practice, a trader can lose his trading skills.
- Indicators. These are marks, which are displayed right in the chart and prompt a user what the direction of a trend is and whether he must open or close the corresponding position. Namely, we mean such tools as a relative strength indicator, simple moving average, on balance volume, Fibonacci retracement, volume weighted average price.
Pros:
- based on many years of experience;
- available on most brokerage platforms for free.
Cons:
- in the situation of high volatility, their accuracy may be compromised.
Also Read: Binary Options Australia: Legal Issues, Brokers, Alternatives
In sum, any sort of day trading signal can significantly reduce the risks associated with this strategy and save a user plenty of time. So, choose the provider from our list and check how much income it can bring to you.