Finding forex signals that consistently make profits are a rarity. A new site, ForexSignalsX.com helps forex traders seek out forex signals providers that they can make money from.
Online PR News – 22-May-2011 – – Investors confused about how to choose forex signals have a hot new resource called Forex Signals X.com to help them wade their way through the forex signals deluge.
The new forex signals website was created by retired day trader Bob Dean. Dean had spent the majority of his working years on the floor of the New York Stock Exchange trading stocks, bonds and commodities. However, foreign exchange trading was always his favorite area to trade in --and the most confusing.
To assist forex traders in the crucial task of taking advantage of reliable and timely forex signals he decided to create a resource that veterans and newbies alike can take advantage of to find the pips they're desperately looking for.
Dean offers his advice for those on the hunt for forex signals providers. "The first thing one should look for when evaluating forex signals providers is reputation. Forex investments are full of Johnny Come Latelys that claim to have some formula or algorithm that works every time. Even before computer-trading, there were people trying to sell me their secret formula more than 30-years ago. Lately with computer software becoming more and more important in the area of forex signals even more people are selling themselves as forex signals providers" Dean notes.
Dean adds that his website is important because it provides the information that potential forex signal purchasers need to be armed with before making their decision. Dean adds, "I've seen more than my fair share of forex traders crash and burn by blindly following their newly acquired forex signals provider. Much of this disappointment and lost money could be avoided if they had someone help walk them through the steps to choose a reliable provider. Forex Signals X.com was created to aid in people's hunt for reliable and trustworthy forex signals."
What's the hottest trend in forex signals right now? Based on over 30-years of trading experience, Dean reports that delivery methods and automation are the two areas of forex signals that every forex trader should become familiar with. "It used to be that you had to wait for someone to call you or personally tell you a forex signal by whispering in your ear" recalls Dean. "But times have most certainly changed in the forex trading world. Nowadays it's possible to get your forex signals by email or even by text message. I really like this new element to forex signals as it ensures that traders don't miss out on a hot forex signal that could have gotten them the pips they were looking to land that day."
Forex Signals X.com also discusses the all-important area of forex signal automation --a controversial subject in the foreign exchange trading community. Dean adds his two cents on this subject, "The idea behind automation is great: make money all the time without having to do anything. Actually, back in the late 1970's when computer trading was first introduced to the NYSE, everyone thought it was only a matter of time before forex signals were all taken care of my computers. The truth is, very few automated programs do what they promise, despite the wild marketing claims."
Why should people visit and spend time at Forex Signals X.com? Dean states that his website will help in the most important aspects of forex trading: education and knowledge. "Without a thorough understanding of forex, no program or forex signals provider is going to help you make money," Dean warns. "However, this doesn't mean that you need to know everything there is to know about foreign exchange trading before diving in. Like anything you'll learn the most about forex signals from actual experience --good or bad" adds Dean.