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Forex signals refer to alerts that advise traders to open certain positions in the market. These alerts contain data-based information such as an entry, a take profit, and a stop loss price. Usually, these signals are generated based on TA algorithms that analyze the current market conditions by comparing them to historical price action.

□ Trading signals can be either generated by professional traders or a semi-automated trading system

□ Forex signal services automatically deliver their alerts, however, they do not involve automatic order execution

□ Traders are responsible for executing their orders and applying money management

Highlights

• A signaling service is usually a subscription-based service, but some systems can be purchased once without requiring any subscription later
• The trading signals can be delivered via email, SMS, Audio, or MT4 push notifications
• Any signaling service should provide precise order specifications, not only trade direction
• Initially, it is better to test any system's suggestions on a demo account, before trading for real money

The Forex market has a daily trading volume of more than 4 trillion dollars, making it the biggest financial market in the world. The Foreign Exchange currencies are traded continuously (24/5), only breaking for weekends. The reason the Forex market is almost always open is that it is International, operating in every single time zone. It is always office hours somewhere in the world. But certain times are highly active, while other times are remarkably slow.

The Forex Market Trading Sessions

Forex is a 3-session financial market:

1) London Trading Session

2) New York Trading Session

3) Asian Session (Tokyo and Sydney sessions are called the Asian sessions)

Introduced in 1913, the Federal Reserve System (the Fed) is the central monetary authority of the United States. Today there are 12 Federal Reserve Banks {New York, Boston, Philadelphia, Richmond, Cleveland, Atlanta, Chicago, Minneapolis, St. Louis, Kansas City, San Francisco, and Dallas}.

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Established by the Treaty of Amsterdam in 1998, the European Central Bank (ECB) is the central monetary authority of the Eurozone. ECB administers and controls the monetary policy of the European Union (EU) and it is one of the 7 main institutions of the EU.

• The capital stock of the European Central Bank is owned by the central banks of the EU member states

• Headquarters in Frankfurt, Germany

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