What signals exist and where to get them
Most traders deal with signals when they get acquainted with indicators. When we speak about the first ones, we mean a particular indicator, which "analyses" the market and informs about the most opportune moment to buy/sell an option.
How to find the right indicator?
Experienced traders advise to work the old-fashioned way and to use the mechanical indicators, which are well-known and tested by many people. You can find them on different portals (including foreign ones), websites, groups, etc. Often, indicators with signals are presented as a live chart, you can choose the most suitable option from the list provided.
You can use the following to receive signals:
technical indicators; Moving averages, including the popular Stochastic; Market reversal points on the change of a steady trend; Analysis of currency pair behavior based on technical data; classical graphical models.
Where to begin?
Moving averages are ideal for beginners who wish to master the intricacies of financial markets. They are suitable for intraday trading and show price charts with smooth jumps and drops. To understand the trend direction and its dynamics in short-term trading, you should go to a longer chart (for example 1 hour), where everything will be visible. Moving averages are a great combination with technical indicators. You can buy or sell an option when both the chart and the binary options signals predict the same situation. If the signal contradicts the overall picture, then you should not pay attention to it.
Signals based on graphical patterns are also good for beginners. Classical graphical models clearly demonstrate price behavior, and professional traders are often limited to such "helpers". Moreover, the trading platform Metatrader allows you to install the most convenient indicators for working with charts and identifying signals.
Separately, it is worth mentioning the signals provided by economic calendar. They give you important hints how to behave a trader on the market during news releases. Such signals cooperate with graphical models perfectly, whereas moving averages can confuse a beginner as they will smooth out the slight price changes.
Automated signals which are not based on indicators, but on a certain technical analysis algorithm have also become popular. This means that the trader will not understand what exactly a signal is based on, so he will not be able to assess its credibility. Such "tips" are often used by people who do not want to learn the basics of trading, but expect an easy profit. In most cases they incur losses. But such algorithms are developing and, who knows, they may soon reach the level of artificial intelligence.