Trading stocks can actually be simplified to just one main principle: you have to find the right moments to open and close positions. However, that is easier said than done. Discovering suitable opportunities by yourself can be pretty hard since you need advanced technical analysis skills and experience to do that successfully. But there is another way: you can also look for trading insights in trusted sources. In this article, we explain where to find reliable trading signals and how to use them.
Using trading signals
There are many professional traders and financial institutions which conduct complex market analysis for all kinds of assets looking for decent opportunities. Some of them are willing to share their findings with other traders, and such information usually takes the form of signals: you just get told which asset and when you should trade. Stocks are one of the most popular assets, and there are lots of different sources of signals for the stock market, including online brokers, specialized chats, and so on.
Using stock signals is very simple: you just find a reliable provider and wait for a signal. Once you get one, you make the suggested trade. This way, you can maximize your profits without actually wasting time on technical analysis. However, the most important thing here is to find a really reliable provider of trading signals since you want it to be as correct and honest with you as possible. If you don’t know where to start, here are the top 3 signal providers for novice traders.
Favored by many traders for its unique copy trading features, eToro allows you to receive signals from thousands of professionals. You can look at their performance and number of followers to find the one that suits you the most. It’s possible to follow up to 100 traders at once, and you can get signals for an impressive variety of other assets like ETFs, indices, or Forex pairs.
This platform is a great source of signals, market analysis, and news. It’s considered rather profitable and reliable, and it’s definitely very user-friendly: just receive signals and make trades, there’s nothing too complicated here.
FXTM offers you another copy trading service that allows you to replicate trades made by professional traders for just a small fee. You can sort them by rating, trading strategy, and profitability rate to find a suitable signal provider.