Free Forex Signals
What are Forex Signals?
Free forex signals area message sent by a professional trader or trader with greater experience telling the viewers the assets he/ she should either buy or sell at the moment. Forex signals often come with a cost, especially as it regards to telegram, forex signal providers charge a monthly subscription fee to receive their signals.
In other words, offering forex signals is a method experienced traders use to indirectly monetized their trading strategy. This provides benefits to the subscribers to earn an additional income, without doing the hard work of chart analysis and waiting for a signal entry.
Who is a signal provider?
A signal provider is the trader(s) that are offering/ sending the signals to their subscribers. Signal providers normally have a free telegram channel for people to get a sample of what their signals are like, while offering a premium subscription with greater benefits such as but not limited to:
- Great signal amount
- Exclusive content
- Signals from different asset classes
- Signals with greater risk reward ratio
Who is the best forex Signal Provider?
There are plenty of signal providers out there across the web spanning across different platforms. Offering signal via telegram now has become a trending practice for emerging signal provider due to it unparalleled features and usability that is offered as compared to other instant messaging platform.
Among some of those emerging signal providers are VentureFx, Greenpips forex and M15 signals. These provider are good in there own way, but none can compare Rhasfx.
Rhasfx is the best free forex signals provider on telegram because of the two custom made indicators that are used generating a great number of entry signals per week. With in the testing period, a VPS was used to run the MT5 terminal 24/5 and both indicators amassed a total of over 500 signals on average for the week.
Of course there are quite a few bad signals among them, but majority of them were winning trades.
Why Rhasfx forex signals are so accurate?
This is because the signals are powered by the two indicators that were uniquely designed to spot (sniper) entries on the M15 time frame while following the H4 and daily trend.
Below are the overall results for Rhasfx Premium plus signal channels.
Overall ResultsA summary of RHASFX PREMIUM signals performance.
|2021||+5593 pips||+1580 pips||-||-||-||-||-||+993 pips||+8166 pips|
|TOTAL||+5593 pips||+1580 pips||+993 pips|
Forex signals by: Rhasfx_Dragon & Rhasfx_Xfinity
Why Dragon and Xfinity are the best indicators? That’s because unlike other indicators which try to estimate possible reversal points #TrendReversal, both were designed to follow the trend or a larger time frame while looking for entry and a smaller time frames. This formula allows entry alerts to be generated in abundance.
As with any other indicators, there are a few bad signals as the market does a big retracement. But that’s where our advance top down analysis comes in. An EA nor indicator can’t think nor speculate what the market movers are doing as such, we use technical analysis to review each alert to decide whether it’s good or bad.
How to trade free forex signals?
Important thing to know:
Though the recommended minimum balance is $200, RhasFX trading strategy is tailored to growing any account size through a combination of swing trading and day trading strategies.
Entry alerts are generated by the 2 indicators, which are then reviewed to ensure our technical analysis agrees with the direction of the signal before entering.
Only after all the factors of confluence are aligned, the green light is given to broadcast the alert across the respective channels as a signal.
As There are two (2) indicators, there are two types of signals with different purposes.
Day Trading Forex Signal
Rhasfx_Dragon signals are very frequent, as such they are use for day trading. The broadcasted signal has three Take profit value depending on the asset.
Eg: Currency pairs: TP 1: 25 pips, TP 2: 50 pips, TP 3: 100 pips.
The purpose of the multiple TP is to lock in profit while growing the account balance simultaneously to increase the lot size for Rhasfx_Xfinity signals.
Swing Trading free Forex Signals
Rhasfx_Xfinity are less frequent but can very profitable with a little patience. These signals normally have no specified take profit. That goes without saying that as these signals are received, they are entered with the intentions of running over an extended period of time or until instructed to closed. Instead of breaking down your lotsize as with Rhasfx_Dragon signals, or partially closed at specified take profit value, Xfinity trades should be entered with a single lot size. This is to recover any loss made by “Dragon signals”. This is a powerful way of riding a trend from the early stage to the end (or near the end), claiming hundreds to thousands of pips.
Of course more signals would continuously be generated as the trend continues, but thanks to Dragon_Signals, a larger lot size can be use for each latter signal.
In a nutshell, both signals complements each other:
Dragon signal increase account balance so that larger lot sizes for Xfinity signals can be used.
Xfinity is set to run for a longer period of time to recover any lost incur Dragon signals.
Day trading Signals vs Swing trading Signals
People often ask which of the two is better, but the answer is completely subjective, as both have their pros and cons. However utilizing both can be extremely powerful.
example: The recent bitcoin (BTCUSD) uptrend that started in March 2020.
With timeframe aside, lets use this uptrend as an example, based on the conditions set for each indicators, signals where generated and highlighted as follow:
Yellow vertical: Xfinity
Blue rectangle: Dragon
As dragon signals hit take profit and grow the account balance, we are able to increase the lot size of the following Xfinity signal.
How to profit from forex signals?
There are many ways to trade the strategies but we advised to follow the recommendations.
Balance & Lotsize
- The minimum recommended balance is $300 although the ideal balance is $600. Anything below $300 would mean risking alot.
- As it regards to lot size with a starting $300 account balance, then we recommend using .01 per $100.
Eg: $300: .01; $600: .06; $1000: .10; $2500: .25
- We Recommend closing At least half (50%) of your lot size at TP1 (+25 pips), while another quarter (25%) of your original lot size closing at TP2 (+50 pips) and TP3 (+100 pips) each respectively.
Eg: A/c balance= $2000
TP1 lotsize: .10
TP2 lotsize: .05
TP3 lotsize: .05
Breakeven and Trailing stop
- Though the signals are highly accurate, It’s utmost important that you breakeven after TP2 (or move stop loss to cover any commission cost accordingly). However we highly suggest breakeven after TP1, though the chances of being stop out are much higher, protecting your account balance take first priority. #Dragon_Signals
- For Xfinity signals, Breakeven after 50 pips, and close half of the position lot size after hitting 100 pips, while letting the other half run. Not all the time, but In most cases, there won’t be a TP value/exit. As such we only trail the stop loss according to 4H structural highs and lows. (You may update it your self.)
- The asset trading range span across five (5) different class, currencies, metals, crypto currencies, index and indices.
- Assets have different volatility, as such the TP and SL value are different.
- After some time of receiving a signal, which you didn’t enter, it not NOT RECOMMENDED to enter that signal after price has reached more than ten pips (X > +10 pips) from the entry point in the desired direction from.
Position (direction): buy (up)
Signal Entry price 1.68655
If price is above 1.68765, then you should await for another signal, rather than entering. However if price is anywhere below the benchmark price (in this case would be 1.68765) then you may enter as desired.
- When entering a buy signal, ideally, the lower the price is from the signal entry price, the more favorable it is enter; vise-versa. (buy low; sell high)
- If a signal was sent for an asset that was not offered by your broker or can’t put a mini lot for that asset, then we suggest joining a different forex broker.
Which Forex Signal Provider have a free trial?
Rhasfx has a 30 days free trial for both premium channels. Though terms and conditions are applied, the free trial of any of the premium channels is worth it since both offer numerous amount of forex signals ranging from different classes.
Additionally, only Rhasfx has an affiliate program for his premium signal channel where clients can become a partner which refer other traders to Rhasfx. Thereafter, 10% of their referral payment will be paid to them, thus giving the subscribers an additional source of income.