Choose the Signals package that fits you best!Our goal at Forexsignalz.com is to provide you with accurate and profitable Forex signals. Every signal is sent by us to you in SMS and email formats. It is important to us that our signals are clear and easy to quickly understand, because time is often of the essence in profitable trading. We keep our signals as short as possible. Here we explain how to interpret our signals SMS, so you can be confident of understanding them quickly and easily.
1. New Trade Limit or Stop Order
Sometimes we will send a signal detailing buying or selling a currency pair at a particular price that is not the current market price. These may be Limit Orders (where the entry price is better than the market price) or Stop Orders (where the entry price is worse than the market price), but this distinction will not be mentioned in the SMS. A typical message will look like this:
“Trade Alert” lets you know this message concerns a trade.
“Trades #001, #002”: every trade, whether or not actual entry takes place, is given a serial number for easy reference. As two numbers are given here, the message will refer to two trades. Where multiple trades are detailed in a single message, they will always be in the same currency pair.
“Risk 0.1 units on each”: not every signal is intended to have the same size of risk. As risk tolerance is personal, each signal is given a nominal but relative risk size.
“EUR/JPY” is the currency pair which the signal relates to.
“Buy/Long@ 143.139, 142.851” tells the direction of the trades and the entry prices.
“TP@ 144.949” means take profit (profitable exit) the trade at that given price.
“SL@ 143.063” means place a stop loss (unprofitable exit) for the trade at that given price.
Important Note: both take profit and stop loss levels can be subject to adjustment given in subsequent messages.
“Expires @_1pm London time” means that the signal expires at the given time, after which it becomes invalid. Not every message will include an expiry time.
2. New Trade Market Order
Some signals will detail buying or selling immediately at the market price. In a very fast-moving market, the message may include a maximum price beyond which an entry is no longer practical. A typical message will look like this:
“Buy/Long@ market below 143.30” means entry should be made at the current market price, provided that price is not higher than 143.30.
3. Cancel Order
When a signal detailing an order at a particular price is given, we might need to cancel that later as market conditions change. These messages are simply cancellations. A typical message will look like this:
To avoid confusion, both the serial numbers and all the prices of the signal(s) that is/are being cancelled are detailed.
4. Close Trade Full or Partial
Open trades might need to be closed fully or partially right away at the market price as conditions change. A typical message of this type will look like this:
“Close 50% of the Open Trades #001, #002 at Market” means that half of each of the trades detailed should be closed immediately at the market price. The remaining half should be left with it’s previously given take profit and stop loss levels.
5. Adjust Stop Loss and/or Take Profit Levels
When a trade has been entered, you will always be provided with stop loss and take profit targets. As market conditions change, it may become necessary to alter either or both levels. A typical message providing these details will look like this:
“TP” means take profit and “SL” means stop loss, with the new levels being detailed within the final two lines.
6. Error Message
If we discover that any SMS message we have sent to you contains any material error, we will notify you immediately upon our discovery and correct the error with a new SMS message. These messages will always have the word “Error” in their first line so you can quickly recognize the message type. A typical message would look like this:
In order to keep things speedy and simple, we do not reproduce the entire erroneous message. We describe the message by reference to the Trade # and then detail an entire replacement message. The final line explains exactly what the error was. As these messages will only concern open trades, it should be easy for you to quickly identify and correct the error.
We hope this list covers everything you need to know in order to easily interpret our signals. If you require any clarifications to these explanations now or at some later time, we will be happy to help. Please send us your questions through our Contact Us page.
Note: The prices used in our signals are taken from TradingView, which may differ slightly from your particular broker’s prices.