How do Forex Live Trading Rooms differ from FX Signal Services?

Forex Live Trading Rooms should not be confused with the more mechanical trade information delivered through signal services. Indeed, rather than relying exclusively upon artificially derived signals for the trade entry and exit points conveyed, FX Live Trading Rooms employ the knowledge of experienced foreign exchange professionals. Whilst the value of intelligence derived from mathematical equations is undeniable, the resultant data points often fail to adequately convey the meaning of this information; particularly to those without a foundation knowledge of Technical Analysis.

The Importance of Forex Education

Whilst trade signals might initially appeal to the novice traders, their inability to address how signals are created often leaves the FX trader subject to blindly following the recommendations conveyed. Offering little in the way of FX knowledge development, the novice trader who has become reliant upon a trade signal service will often find it challenging to establish their own ideas about currency pair movements. Whilst this may sound insignificant given the nature of the signals raised, it is important to note that the mechanical nature of FX signal services mean that signals are launched with little consideration for the external forces governing market direction. With many signal services offering hundreds of trade signals a week, an inability to gauge the level of risk will invariably result in the placing of trades that might otherwise be deemed inappropriate.

Human Intuition in your Forex Live Trading Room

Whereas trade signal services rely upon mechanically derived data, Forex Live Trading Rooms use human intuition and experience to convey trades with a higher propensity for profit. Through the application of realtime trade information, the Forex trading room host can use their own live trades as the basis for educating users in such areas as technical indicators, pricing patterns and market movements. By enabling users to learn how signals are produced whilst at the same facilitating the realisation of successful trades, Forex Live Trading Rooms represent a 'win-win' scenario, empowering the trader to develop their own trading style whilst leveraging the knowledge of others.