How to Read Our Forex Telegram Signals
Before we begin...
For sustainable trading, we recommend that you use CENT account type.
We strongly suggest you consider the brokers we use.
Roboforex - select their CENT AFFILIATE account. You will see this "special" account when you enter SXVS as the affiliate code. They currently have a welcome bonus of USD30 that you can use as your trading capital. No deposit required. Click here to open an account with Roboforex.
FBS - open a new MT4 account and select CENT account. They currently have a welcome bonus of USD30 that you can use as your trading capital. No deposit required. Click here to open an account with FBS.
XM - open a new MT4 account and select their micro account. They currently have a welcome bonus of USD50 that you can use as your trading capital. No deposit required. Click here to open an account with XM.
Hugosway - this is for US and Canadian residence. Unfortunately, they do not have CENT account. So use their ECN account as they provide tight spreads and be sure that your lot size is only 0.01 for every $1000 in your account.
Click here to open an account with Hugosway.
How to Read Our Forex Telegram Signals?
Profit By Friday Signals Telegram sends out live trades as we place the trades in our live account and you can verify our trades in our Fully Verified MyFxBook account here.
We have signals for 3 pairs. The main pair is EURUSD.
The bonus signals are USDCAD and AUDUSD.
For a start, it's best to just follow one pair until you fully understand how to read the signals.
How our Forex Telegram Signals look like...
When a new trade is open, you will see a chart and the signal details like below...
What the Forex Telegram Signals mean?
Open Order: this is the number that you should take note so that you know how to update your orders.
Buy (or Sell): This is the type of order we have placed in our live account. In this example, we have executed a buy order on EURUSD at 1.08414.
SL: This is the stop loss that we have set for this trade. In this example, we have set the stop loss at 0.88414
TP: This is the take profit price that we have set. In this example, we have set the TP price at 1.09054.
Time: This is the timestamp of when this trade was placed.
And finally, we also offer a full service where we will place the trades for you in your MT4 account. More information can be found in Profit By Friday.
Buy Limit Order Example
In some trades, we might place a Buy limit order at 0.69586 and with a SL of 0.49586 and TP of 0.70136 like this example of AUDUSD.
Again, take note of the Open Order # as we will make reference to this Order # whenever we update the status of this trade.
Forex Telegram Signals Update
As part of the our Forex Telegram Service, we will update each trade from start to finish. But this is the part that can sometimes seem overwhelming.
And this is the part, it helps to track the Order #. It will be easier if you use the search function of Telegram to search for the Order #.
On the top right of your Telegram app, press on the 3 buttons.
And search for the order #... usually the last 4 digits will be good enough.
In the example of EURUSD above, then you should type in 7566. Telegram will zoom in on the update..
This is the update on the EURUSD Order# 7566 and the TP has been changed from the initial 1.09054 to the new TP at 1.08633.
This is the update on AUDUSD Order# 2662. The order was just canceled.
Multiple Orders per pair
In our live account, we often place several trades on the same pair.
When the trade moves against us, we typically will average down our buy or sell price and hence we adjust our TP and SL levels regularly for all open trades. When this happens, signals update can arrive in your telegram app in batches.
This is why it is important to use a CENT account to trade or use a small lot to trade. It's never wise to over leverage your account with one or 2 trades.
The most important thing to remember is we look for sustainable long term trading. Short term big wins are nice but most of the time it involved trading with large trade volume and that is not sustainable in the long run.
We hope to continue to service your trading needs and to help you grow your portfolio systematically in the long term.
If you would like a simpler way to grow your account, then consider joining Profit By Friday so that we can just place and update all our trades directly in your account. Click here to learn more about Profit By Friday.
Let's have a nice trading adventure together.
Good luck!