Short-Term Day Trading Signals (located ONLY on the following charts):


EUR/USD 1-H (105 Stop-Loss)

EUR/JPY 1-H (140 Stop-Loss)

AUD/USD 1-H (135 Stop-Loss)

 

If you do not see signals appearing on charts for the currency pairs & time frames listed above and/or you wish to show/hide or turn on/off the signal alerts on a chart; right click on the chart and select "ProSignal Signal" from the pop-up window. Once the check mark appears next to "ProSignal Signal" the alerts should appear on your charts within a few seconds. (see illustration further below)

Our signal formulas are a culmination of years of market knowledge and experience. Although we may adjust them from time to time to improve them, we will only rarely intervene in an open trade. For example, on occasion we may manually close a trade sooner than programmed in order to secure a nice profit prior to a weekend or at a strong level of support/resistance. All alert signals are automatically generated by software maintained on our central server and sent to your charts along with live price feed.

Click on the icon located on the desktop and log in. Depending on Internet speed it may take a few minutes for all the charts to load. The charts and historical signal alerts should appear on the main window as follows:

If you would like to show/hide or turn on/off the signal alerts on a chart; right click on the chart and select "ProSignal Signal" from the pop-up window. Once the check mark appears next to "ProSignal Signal" the alerts should appear on your charts within a few seconds. 

To add a new group of charts under a separate tab, select "Group" at the top of your charts and then "New". This will open a new group under a separate tab. Open and set up your new charts any way you desire and then SAVE your settings following the Helpful Tip below.

To have your new group of charts automatically open each time you start your ProSignal software, right-click over the tab name (at the bottom of your charts) and select "Add to Preload".

Recommendation: We recommend that you have your Long-Term signals (in the Monthly time-frame) in a separate group from your short-term day-trading signals (in the 1-hour time-frame).  If you do not already have a group specifically for your Monthly charts, you may want to create a new group for your Monthly charts following the instructions above. Since we provide long-term signals on 10 different currency pairs, you may want to create 2 or 3 different groups for your Monthly signals so you can spread them out for easy viewing. 

Once you have your charts set the way you want them, be sure to save your settings. To save your settings, go to "Group" at the top of your charts and then select "Save" or "Save All" to save the settings of all your open groups.

If you make changes to a chart or accidentally close a chart and you want to restore the charts to their previous state, exit the software completely and when the prompt asks if you would like to save your changes select 'NO'. When you reopen the charts everything will be restored to the condition of the last time it was saved.

The red and blue arrows on your charts are entry signals or reverse signals (Reverse signal is an opposite direction signal on an already open trade. When your receive a reverse signal close the open position and open a new trade in the other direction.) A blue "UP" Arrow = Buy Signal and A red "DOWN" Arrow = Sell Signal, as illustrated below:

Each Buy/Sell entry signal is programed to take-profit or stop-loss at a certain price. These exit signals are displayed as grayish-white arrows, as illustrated in the chart below:

Trading the Automated Signal Alerts:

ProSignal's Trading Philosophy: ProSignal's trading formulas are not magic. They are merely sound, practical, time-tested, and proven trading strategies based on logic and simple trend recognition which the trading formulas have been programmed to detect automatical ly. When broken down, it is nothing more than a numbers game where we have applied simple logic in several areas to put the odds greatly in your favor over time. Since the currency markets spend most of the time trending (either up or down), it is only logical to design trading systems that take advantage of these long-term trending periods, as opposed to trying to predict every little move the market makes from day to day. 

Ups and Downs: As you can see in our historical performance, there are periods when our trading formulas take losses, also known as drawdown periods. These drawdown periods are normal and are to be expected in ANY trading system.  However, on our Leveraging Strategies page, we teach you how intra-month draw downs can actually work to your advantage.

The Signals: A trade is considered open as soon as a signal is generated. It stays open until 1) it reaches its profit target, 2) hits a stop-loss or trailing stop-loss or 3) a reverse signal is generated suggesting a trade in the opposite direction. If a reverse signal is generated while you have an open trade position, you should exit your current open trade as soon as possible and immediately enter a new trade in the opposite direction. When a stop-loss or profit target (limit) is reached, you should exit the trade and wait for the next entry signal.

Monthly Signals: All entry signals on the Monthly charts will occur on the last day of the month unless the last day occurs on a Friday or Saturday, in which case the signal will occur on the following Sunday. Likewise, most exit signals will also occur on the last day of the month but exit signals can also occur at any time within the month as well.

Alert Notifications: Every time a new signal is triggered it will appear as an arrow on the charts (as shown in the examples above) and you will receive an alert notification pop-up window along with an audio alarm on your computer. In addition, if you choose, you can set your charts to notify you by e-mail or cell phone as a text message. Click Here to learn how to set this up.

Entering a Trade: To match the monthly performance of the automated signals you want to enter your monthly trade signals as close to the 1st day of the month as possible. If you want the ability to enter trades when you are away from your computer, you can either sign up for our Automated Trade Execution program (100% hands-free)  or use the TradeItself software to place trades for you automatically. Another option is to simply wait until an exit signal is generated on the ProSignal charts, which will generate a real-time alert to exit or close the trade. Exit alerts also include text alerts by email and/or cell phone.

Placing Stops & Limits: Each currency pair has a unique hard Stop-Loss and Profit Target best suited for that particular currency pair's volatility. Following each entry alert, you will receive a second email alert containing the specific Stop-Loss & Profit Target information for that signal.

Exiting a Trade: By entering your "stops" and "limits" when you open a trade, you will be automatically exited from the trade if either of these prices are reached. However there are two additional circumstances that can trigger an exit signal at any time; a trailing stop, a Channel Trailing Stop (activated deeper in profit), and a reverse signal (the open position is closed and a new position in opened going in the other direction). You have two choices when it comes to managing these types of exit signals. You can use the TradeItself software to exit your trades automatically or else be prepared to act quickly when you get an exit signal and close the trade manually. If you choose to exit a trade manually and you are unable to get to your computer right away, remember that you can always call the trading desk of your broker and have them open or close trades for you quickly for no additional cost. In any event it is always a good idea to have your broker's phone number on the speed dial of your phone(s). 

TradeItself (Automated Trade Execution Software): Aside from our fully Automated Trade Execution program, you may allow yourself the freedom of sleeping through the night without having to wake up to exit a trade. If so, we recommend that you use the TradeItself automated trading software. This software will enter trades and/or exit trades for you within seconds of receiving the e-mail alert from the ProSignal charting software. All e-mail alerts are sent from a centralized e-mail server so there is no need to have your charts running to receive the email signal alerts. The TradeItself software also allows you to apply discretion to your trades because you can program it in advance to accept or deny specific types of trade signals. TradeItself software is provided by a third party at an additional monthly fee.

Market News: Many published economic reports, such as employment, trade, and interest rates reports, may have an immediate dramatic effect on the Forex market. There is no technique to account for such effects in an automated system. It is up to the individual trader how they will account for pending market news. Typically, it is very difficult for an inexperienced trader to predict the effect of the market report. Often price will start to move in one direction in anticipation of news and then quickly reverse once the news is released. If you are concerned that a release of a certain report may negatively affect your trade positions, you can tighten your stops or close your positions and stay out of the market one hour prior and one hour after a report is due to come out. Once the market stabilizes you can resume your normal trading routine. The past performance of our automated alerts is based on taking every signal regardless of market conditions. In some instances economic reports favored our signals, in others they did not. Depending on the individual, trying to account for market news may improve or worsen the performance of the automated alerts.

A Friendly Warning: Trading Forex involves high risk. You should always start trading on a demo account, until you can make consistent profits. When you begin trading with real money, always start with as low leverage as possible and slowly increase leverage as your profits accumulate over time. This will help to protect your initial investment principal during drawdown periods. Regardless of what you have studied, there is simply no substitute for experience and trading Forex is no exception.

ProSignal Charting Software Main Page

Receive Alerts by E-mail or Cell Phone

How to Back-Test the Automated Alerts

Important Functions of your ProSignal Charts

Automated Trade Execution

Past Performance of Automated Signals

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