However, this is just one aspect of a successful trading journey. Another key aspect is the resources traders require to stay up to date, educated, and equipped to make informed investment decisions.
HYCM has always been committed to delivering top-quality trading content and resources to its clients. Part of this involves its in-house news, analysis, educational material, and live webinars with market expert and Chief Currency Analyst, Giles Coghlan. In addition to that, HYCM traders can also use several other value-added third-party services such as Trading Central and its forex trading signals, indicators, and risk management tools, which is free to HYCM live traders.
Trading Central has a proven track record of delivering a unique combination of quantitative and qualitative market analysis to both institutional and retail investors. The quality of the material and the reliability of its delivery makes it a valuable addition to HYCMs existing content.
The Pros and Cons of Trading Signals
Trading signals are typically ‘triggers’ in a form of short messages containing information that help traders make their trading decisions. Based on fundamental, technical, or other forms of analysis, forex signals identify trading opportunities in the financial markets.
Therefore, trading signals are enormously popular, highly sought after, and generally desirable to traders, especially at the earlier stages of their development. However, they also offer experienced traders an opportunity to check their own signals against those of other professionals. In other words, allowing them to confirm or disconfirm their signals, which can be enormously valuable.
A common criticism of trading signals is that they usually do not empower a trader to develop their own process, leaving them dependent on the source of the signals in question. With Trading Central‘s Technical Views, traders aren’t simply presented with a buy or sell signal that they just blindly follow. Trading Centrals proprietary algorithm scans thousands of markets for directional signals at a variety of timeframes.
These signals are presented clearly and concisely on intuitive charts with target levels clearly marked. They also come with a pivot line that marks the reversal point of a trend, as well as the provision of an alternate scenario complete with targets, should the price happen to go in the other direction.
Furthermore, HYCM offers Trading Centrals Market Buzz, a user-friendly product that provides a concise, accurate analysis of any given instrument. Market Buzz uses proprietary natural language algorithms to analyse a high volume of professional news articles, social media posts, and individual blogs, and converts them into quantitative data.
Finally, HYCM traders also have access to Trading Centrals tailored newsletters providing overall market insight as well as detailing specific setups in the underlying symbols they are most interested in trading. The newsletters manage to strike a balance between beginner-friendly content written in a manner that provides a learning curve for newcomers to trading, while simultaneously not compromising on insight for the more experienced traders.
All Trading Central tools are available for free for HYCMs live traders and can be found in the client portal.
Why choose HYCM？
Recognising that one size doesn‘t fit all when it comes to the markets, HYCM’s approach has been to try to provide as many as possible of the requirements of different trading styles at different points of the trading journeys.
When taken as a whole, HYCMs combined resources and tools allow newcomers to quickly improve and broaden their understanding of trading, while also providing experienced traders access to the tools needed to level up their skills.
Trade with HYCM
About: HYCM is the global brand name of HYCM Capital Markets (UK) Limited, HYCM (Europe) Ltd, HYCM Capital Markets (DIFC) Ltd, HYCM Ltd and HYCM Limited, all individual entities under HYCM Capital Markets Group, a global corporation operating in Asia, Europe, and the Middle East.
High-Risk Investment Warning: Contracts for Difference (‘CFDs’) are complex financial products that are traded on margin. Trading CFDs carries a high degree of risk. It is possible to lose all your capital. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent expert advice if necessary and speculate only with funds that you can afford to lose.
Please think carefully whether such trading suits you, taking into consideration all the relevant circumstances as well as your personal resources. We do not recommend clients posting their entire account balance to meet margin requirements. Clients can minimise their level of exposure by requesting a change in leverage limit. For more information please refer to HYCMs Risk Disclosure.
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