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GlobalTrader365 has just announced that they now offer trading signals for their traders. Most brokers and signal providers offer straight buy or sell indicators without giving background as to why you should be taking theposition. GlobalTrader signals are interesting in that they give you description as to why the asset will be trading at a certain level and at which price points you should act when certain market positions are reached. Here is a shortened example of one of their signals.
“We are looking to short the USD/CAD as it is hovering at a 6 week low. We are expecting a drop to the 1.0100 range and are looking to execute the trade between 1.0160 and 1.0135.”
The signal gives a rationale as to what the trader should be looking for and why he should be executing a trade at that level. Other signal providers would just say Sell USD/CAD at 1.0160.
Ultimately traders are interested in the overall success rate of the signals. So far the GlobalTrader signals are successful at over 70%, which is a profitable number. The benefits of these signals beyond the success rate is twofold. For one thing the signal background they provide gives added insight to a more experienced trader as to whether you he should act on the signal or not. Often times in their signals they will say if X happens we expect Y to happen therefore execute at this price. This added information tells you that if condition X doesn’t happen you should avoid the trade.
The second advantage to these signals is that the information they provide is educational and gives you insights into what to look for in general when making other trades.
For all of the above reasons I recommend the GlobalTrader signals. One to five free signals are provided per day for account depositors. They are sent to traders by e-mail or Skype.
