Frequently Asked Questions

 

 

 


   

What is Forex?

The system of global trading in foreign currency is known as the Foreign Exchange Market, Forex, or just FX. Over the last three decades the foreign exchange market has become the world's largest financial market, it trades over $1.5 trillion USD daily; more than three times the aggregate amount of the US Equity and Treasury markets combined. Forex is part of the bank to bank currency market known as the 24-hour Interbank market.

 

Why Forex trading?

Forex trading is attractive because it offers unparalleled freedoms. A Forex trader can live almost anywhere as long as he/she is within reach of the internet. A Forex trader can work from home or office, and in some cases, even trade while traveling! A Forex trader can usually choose his/her own hours to work since the global foreign exchange market is open 24 hours a day. A Forex trader avoids many common headaches associated with running a business because there is NO inventory, NO shipping, NO billing, NO collections, NO employees, NO commuting and NO dress code. And finally, since Forex traders can potentially earn a very high income, they enjoy the possibility of never, ever working for someone else again!

 

How high are the risks in FOREX trading?

The risks can be high but also controllable. Forex traders around the world are competing against other forex traders, banks, and institutional traders who are seeking the same potential rewards from their own trading activities. Money management, discipline, talent, and a lack of emotion are traits you will want to develop in FOREX trading. But remember, FOREX Trading is speculative and any capital used should be risk capital. In fact, we recommend that you trade on a demo account until you have shown profit for at least three consecutive months before trading real money.

 

What are "long" or "short" positions?

A long position is one in which you buy a currency at one price, with the expectation of selling it later on at a higher price. Obviously, you anticipate that the market will rise. A short position is one in which you sell a currency with the expectation of buying it back at a lower price. Here, you expect the market to fall. Every FX position you take automatically entails going long in one currency, and short the other. If you buy one, by default you are shorting the other.

 

What is a Pip?

 

A pip is a term used in the currency market to represent the smallest incremental move an exchange rate can make. Depending on context normally one basis point is 0.0001, as is the case of EUR/USD, GBP/USD, USD/CHF. In example if the EUR/USD moves from 1.2561 to 1.2562 it is one pip.

 

How much a pip worth?

If you trade the full contract (100k of currency) the EUR/USD and GBP/USD are worth approximate $10. In other words if you have a trade with 50 pips in profit, it means the gain is $500. ($10 per pip x50 pips). If you trade a mini account is 1/10th of the size, 50 pips will worth $50.

 

Which are the pairs traded by the system?

We generate signals for 3 pairs: EUR/USD, GBP/USD and USD/CHF.

 

How long are positions held?

All open trades are closed at 5.00 PM New York time and new signals will be placed on the members area the day after at 5:00 am EDT.

 

When are signals sent and how often?

Our signals are placed on the web site at the members area around 5:00 am New York time during business week. We only issue new signals at this time, no further intra day instructions are necessary since we indicate entry, exit and stop loss in advance.

 

What broker do you recommend to trade your signals?

We have now a promotion: Just register with AvaTrade broker to get our signals for FREE. Terms and Conditions: 2 months full membership for FREE if you deposit $300 USD; 6 months full membership for FREE if you deposit $600 USD; Lifetime membership for FREE if you deposit $3000 USD. After that just send us a email and we will activate your account within 24 hours.

 

Are the spreads deducted from the performance?

Yes, they are.

 

How much time does it take to follow your system?

Only minutes per day, check for new signals at 5:00 am EDT and place the orders with your broker. You can place all the orders in advance until the next day.

 

How are the trades generated?

We use a proprietary price/resistance system based on previous day volatility. The system generates high probability entry points for the next day, if the price trades at our entry point level most likely will continue to move in that direction.

 

Is the system mechanical?

Yes, it is 100% mechanical; there is no subjective criteria to follow the trades.

 

With so many web sites offering signals, why BuyForexSignals.com?

There are many web sites offering forex signals, but only a few are honest reporting their results. We report the trades as they happen, with no hidden rules or subjective criteria. All instructions are given in advance, providing members full control of their trading. We focus to provide a system with stable results, low drawdowns and consistent performance. Most web sites get one " big" month to lose it over the next one or two with "bigger" drawdowns. In our opinion that's not a professional way to trade.

 

Do I need special software or data feeds?

No, we don't use technical indicators, we give you specific specific price levels. You can send the orders in advance, no need to check the intra day movement nor complicated indicators to follow.

 

Can I see a past signal example?

EUR/USD buy at 1.4451 TP: 1.4491 SL: 1.4418
EUR/USD sell at 1.4418 TP: 1.4378 SL: 1.4451

Take profit: 40 pips

 

USD/CHF buy at 0.7922 TP: 0.7992 SL: 0.7900
USD/CHF sell at 0.7900 TP: 0.7830 SL: 0.7922
Take profit: 70 pips

 

GBP/USD buy at 1.6345 TP: 1.6415 SL: 1.6292
GBP/USD sell at 1.6292 TP: 1.6222 SL: 1.6345
Take profit: 70 pips

 

How do I cancel or change my subscription details?

Simply use the link provided in the sign up email.

 

 

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