The categorization of Forex trading signals is generally broken down into three types:
One type of classification is between Manual and Automated Forex Signals. The former is created manually by a professional trader or a knowledgeable individual. On the other hand, the latter is determined by a computer program that bases the signals on coded algorithms of the market’s price changes.
Another classification is between Paid and Free Forex Signals. In this case, some providers offer their services without any cost (temporarily or indefinitely) while others demand a fee in return.
Lastly, Entry and Exit Forex Signals categorize signals based on when they should be applied in a trade. This is a breakdown of the intricacy of a trading suggestion. Several signal suppliers might only give entry signals, which is a prompt to establish a trading position in the market, while some others only provide exit signals, which is a cue to close any existing open trading position you may have ongoing in your trading account. This is usually true for long-term trading signals on fiscal assets. Generally speaking, with short-term intra-day trading signals, a trading idea will include both entry and exit signals.
