Best Trading Signal Providers: How to Find The Best Signal Service
2022-08-14 18:30 in Trading Signals
Have you done any research into finding the best Trading signal providers? If you are new to the world of trading, you may have thought about using trading signals to help you maximize your sharpe ratio and reduce drawdown on your target trading markets (stock, etf, indices, forex, cryptocurrencies, etc).
Indeed, following the best trading signal providers can not only save you a lot of time and energy, but it can also help to teach you new trading methods and strategies.
I will go into detail here in this best Trading signal providers guide to help you define the best signal service for your trading efforts regardless of the type of instrument you trade on.
The main task for any beginning trader is to learn how to trade efficiently and gain an understanding of the trading market. The most difficult aspect is finding the best trading signals providers. Intermediate traders, on the other hand, have likely encountered several different trading signal providers.
Even though trading signals are more commonly used by intermediate traders, the knowledge of what trading signals actually mean for a trader, and how to apply them, is useful for traders of all proficiency levels. This will equip you with the knowledge needed to use trading signals to your advantage!
Throughout this article, I will give an overview of the services offered by trading signal providers along with the best provider on the market from my personal point of view and what it’s offering.
What Are Trading Signals?
Trading signal will tell you when to buy or sell an instrument, and at what level to set your take profit and stop loss.
These signals are generally provided by experienced traders or deep sophisticated AI powered engine through written messages, which are given either free or for a fee. Trading signals help novice traders by providing them with accurate transaction details recommended by real-time signal providers.
Most trading signals are based on two distinct types of analysis:
1. Fundamental analysis
Fundamental analysis relates to economic events and market news, all of which can influence the price movements of financial instruments. A fundamental signal factor is simply one of those events, such as an interest rate announcement, which the trading signal engine can use to make informed trading decisions.
2. Technical analysis
While fundamental analysis looks at news and economic events, technical analysis focuses on historical price movements and chart patterns. By seeing how instruments have behaved in the past, traders can make prediction on how they might behave in the future - should similar patterns present themselves.
Trading signals are frequently issued by combining technical signal factor which indicates that an instrument's price is going to move in a certain direction using historical data and indicators, and fundamental signal factor which keep an eye on the news and on company announcements to ensure consistency in the decision that is about to be taken.
How to use trading signals?
Trading signals are communicated to the trader by providers via a message, which can be in the form of an email, SMS or via a mobile messaging app, such as Telegram or Whatsapp. It is then up to the trader to do the rest. This is often a paid signal service.
Thus, the trader always manages their own trading account and simply follows the signals by entering the recommended positions on their own trading platform. This way, the trader has total control and can get a feeling of whether certain trades will be profitable or not.
Where can I Get Reliable and Accurate Trading Signals?
There are a lot of trading signal providers, and sometimes it can be hard to know which ones to trust. That’s why I compiled a list of some of the best-paid trading signal providers and tested each of them one by one with a record tracking success I had with each one.
As a result of my research, i have picked this telegram trading signal bot @SmartTradingSignalBot as the Best Trading Signal Provider Overall.
First of all, of what i have been told,
@SmartTradingSignalBot is founded by former professional traders who have worked for major financial services institutions in London and have over 20 years of experience in the field of trading in collaboration with artificial intelligence PhD's and algorithmic trading experts.
Its internal functioning remain a black box but as far as we know, it is a deep sophisticated trading signals bot powered by market sentiment, artificial intelligence, analyst ratings, reliable indicators and news.
From my point of view, its main advantages:
- it's a multi-asset class trading signal engine. This means it can be used to get signals for: stock, etf, indices, forex or cryptocurrencies
- it has a symbol lookup tool to find for the ticker symbol of a company or an instrument.
- it is very precise and very affordable
After a brief description, here are some illustrations to show what it looks like.
- Main screen:
- Selection of the asset class:
- Trading signal result for the stock:
- AAPL INC (AAPL)
- QUALCOMM INC (QCOM)
- Trading signal result for european stock exchange:
- VODAFONE GROUP PLC (london stock exchange) (VOD.L)
- ACTICOR BIOTECH (paris stock exchange) (ALACT.PA)
- Trading signal result for ETFs:
- S&P 500 ETF VANGUARD (VOO)
- FTSE DEVELOPED MARKETS VANGUARD (VEA)
- Trading signal result for indices:
- S&P 500 INDEX (SPX
- DOW JONES INDUSTRIALS AVERAGE (^DJI)
- Trading signal result for forex:
- EURO/US DOLLAR (EUR/USD)
- Trading signal result for cryptocurrencies:
- BITCOIN - USD (BTC/USD)
- Ticker Symbol Lookup:
There are tons of different signal providers in the industry that may mislead any beginner trader who steps in. As mentioned before, it is essential to choose the one which has a history of consistency and which let the trader has total control of the trading decision that is about to be taken. @SmartTradingSignalBot presenting all these advantages, however I advise to test before doing like me, basing all your trading strategy on this sole trading signal provider.
Disclaimer: None of the information published in this article should be construed as investment advice. Article is based on author’s independent research, we strongly advise our readers to always do their due diligence before investing.