Scalpers – Scalping involves forex trading signals very short term time frames, and trades can last as little as a few seconds to as long as a few minutes or longer. Usually scalpers rely on extremely fast execution models and very tight spreads in order to succeed. Profit targets are usually less than 10 or 15 pips. Very few of the best forex signal service providers fall into this category.

Day traders – Forex day traders typically hold positions for less than a day or only during the session that they are trading. They will typically trade off of 5 or 15 minute charts. Although you will find many real forex signals providers that specialize in this timeframe, it is very difficult to make consistent profit as a day trader due to high transaction costs and limited price moves during the day.

Swing Traders – Swing traders usually hold a position from about two days to a few weeks. They will be focusing on trading the 4 hour, 8 hour, and daily timeframes. These timeframes offer the best combination for opportunity while keeping transaction costs low. In addition, technical patterns that occur on the swing trading timeframe are much more reliable than the lower time frames. The most successful Forex signal providers tend to trade and issue alerts for the swing trading timeframe.

Position Traders – Position trading is more akin to longer term investing. Typical hold times are from a month to a year or longer. Many position traders tend to be fundamentalists that rely heavily on macro economic analysis for their trade decisions. There is a decent amount of currency signal providers that fall within this category.