Traders can pay hundreds of dollars a month for trading signals and technical analysis. But did you know you can find profitable forex signals and professional technical analysis from experienced traders for free?
Investments banks and commercial trading firms often post daily technical analysis reports to finance portals and news sites. The popular FXStreet portal publishes many of these reports in their Technical Analysis section. These resources offer a wealth of professional analysis, along with some very good trading signals from companies like SAFE Limited and Financial Trend Analysis.
A kindly of free websites and blogs offer regularly updated forex signals from experienced or semi-professional traders. These include sites such as Piphut, Pips and Tips and Daily 20 Pip. You can also find trading signals posted to forums and even Facebook and Twitter.
These free resources can be hit or miss, depending on the expertise of the signal provider, and they may not always be regularly updated. The best of these sites post a performance record so you can see the historical performance of their signals.
A few commercial signal providers offer a free trial or a limited free account. TradeFXPlus, for example, offers a totally free account with daily EURUSD signals. A few brokers also offer a free trading signal service with a live account.
FXCM's DailyFX portal provides free web based real-time forex signals based on several proprietary strategies, while FX Universal offers a free subscription to Dashboard FX Pro, a PC software program that provides real-time signals for 20 different currency pairs.
With just a little bit of effort, you can easily find quality forex trading signals without spending a dime. Now all you have to do is enter those trades and observe your results. Happy trading!