Smart Forex Signals team has been trading the forex market for many years. These Smart Forex Signals provide swing trading signals for the forex pairs: EURUSD, AUDUSD, USDJPY, USDCHF, GBPUSD, GBPJPY and EURJPY plus gold, crude oil and Dow Jones. These SFS Swing Trading Signals will be sent directly to your email inbox or iphone and will include the entry price, stop loss, take profit targets and the trailing stop. You will get enough time to enter the SFS signals in a relaxed manner once you receive them. So you don’t need to sit in front of your computer all the time monitoring the charts when trading with these Smart Forex Signals.
How Smart Forex Signals Work?
You will receive the SFS signal that will look like this:
GBPUSD: Long (Buy) AT: 1.5134 STOP: 1.5114
Once the trade moves into profit, you will get an update with the trailing stop like this:
GBPUSD MOVE STOP TO THE LONG (BUY) TRADE TO: 1.5154
The average stop loss used in a swing trade will be 20 pips and the stop loss will never be bigger than 35 pips. This is what you will do: Open two positions. Go for a profit of 15-20 pips for the first position. Leave the second position open for a profit of 30-40 pips and even more with a trailing stop loss. The focus will be to swing trade the trend for maximum pips. You can also use your own trading strategy to take out profits and exit the trade when the trade has become profitable.
Testing Smart Forex Signals Service
You can test drive these swing trading signals for a small price of $9.95 for the next 14 days plus you have no questions asked 60 days money back guarantee period. Try these signals on your demo account for a period of one week. Make a trading journal and enter the details of each demo trade that you make using these signals. After closing each trade see how well the trailing stop worked and how many pips were made. At the end of the week, audit the trades that you made using these signals, calculate the number of signals that you got daily, the win rate and how many pips were made during the week. Since the stop loss will be between 20-35 pips, your losing trade size will also be between 20-35 pips.
If you are satisfied with the performance of Smart Forex Signals in one week of demo trading, open a mini account with a deposit of $250 and trade live with these signals for one week further with a lot size setting of 0.01 lot. Live trading is must because there is no slippage or re-quotes on a demo account. A trade might get perfectly executed on the demo account but it may never get executed on the live account. Using a lot size setting of 0.01 lot means if you lose 35 pips, you will only be losing $3.5. So losing 10 trades in a row will mean losing only $35. So, this way you can test Smart Forex Signals on a live account with minimal risk. Enter these live trades in the trading journal as well. If you have your own exit strategy, you can practice that first on the demo account and later on the live account and see if it gives you more pips. If you don’t get satisfactory results, you should go for a refund and if you get good results, you can think about increasing the deposit size to something like $500 and trading live with these Smart Forex Signals.
How To Use ADX Indicator As A Filter To Improve The Performance Of Smart Forex Signals?
ADX (Average Directional Index) indicator is used to measure the strength of a trend in the market. ADX is an oscillator that oscillates between 0 and 100 readings. A reading below 25 indicates that there is no trend in the market. The market is moving sideways. A reading above 25 indicates that the trend in the market is strong. Readings between 20 and 25 are inconclusive. The market maybe trending but there is no strong indication for that by the ADX indicator.
Now, you can use this ADX indicator as a filter to further improve the performance of these Smart Forex Signals. Suppose, you get a BUY/SELL entry signal. Before you enter into a trade, first check the ADX indicator. If the ADX reading is above that of the previous day, only then enter into the trade and if the ADX reading is below that of the previous day, simply skip that signals and don’t enter any trade. The reason for doing this is simple. A climbing ADX reading indicates that the market is trending strongly and a declining ADX reading indicates that the trend in the market is getting weak. So if the ADX reading is declining, don’t take that trade.
With this simple strategy, you will be able increase the potential size of your winning trades and reduce the number of losing trades as well. How to test it? First trade with these Smart Forex Signals without using ADX as a filter on your demo account for a few weeks. Then trade with these Smart Forex Signals alongwith the ADX filter. Note how much the performance of these Smart Forex Signals has improved. Infact, you can use ADX as a filter with any sort of swing trading strategy!