how to create trading signals
I wonder if you’re going too fast and rushing to start trading.
Therefore, slowly -
- entries are not where you make money - you make money from good exits
- so how do you get a good exit? - from good price action after the entry - this means price rises after you buy
- how do you find an entry which is followed by a price rise? - because price was already rising, it was in an uptrend - when price is in an uptrend, the most common thing it will do next is rise, either immediately or very soon
My advice is to study uptrends and how to recognise them and compare them. Then Google up a simple strategy that will cause you to buy when price is in an uptrend.
Through observation! Study the past and the current trends. Notice what causes a breakout, effect of price change in another instrument, trend pattern, etc. this way you’ll know when to enter a trade (when price is low and expected to rise) and similarly when to sell, before the trend reverses. It’s also important to analyse if the reversal is a short term fluctuation or is sustained. Short term price swings are what lead to false signals. Personally I always look at price and volume for my entries and exits. I use autochartist sometimes on fxview as an indicator but I always do my own analysis as well. I was using EA earlier for exiting when i started trading on cmc markets but soon realised that I was exiting too soon. Prices always soared after my exit. So the key is to study the markets well.
I am not sure how much experience you have in trading but from your question, I can guess that it is not very much. It clearly looks like you must spend some more time in the forex market to learn about the market in a much better way. This will help you in the long run if you are focusing on sending signals.
Focus on improving your skills so that you can make good trades that can get you some profits. To convince people to buy your signals, you will have to prove that you are doing good and why they should trust you.