Automated Forex Robots - If They Are So Good Why Does Anyone Bother Working?

By Michelle Hendrix

An income for life for $100 sounds a great deal why work then? The answer is of course obvious - because they lose money and don't work...

The key point you need to look at is - has the forex robot ever been traded in the real world? To find out go down to the disclaimer and you will normally see the following:

"CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading"

So it's not a track record in the real world i.e. its made real dollars it's simply a back test on paper and you can't spend that at the shops. The vendor simply gets the data and bends his system to fit it and of course as the same price history never repeats exactly, the system collapses in real time trading.

Anyone who believes that a simulated track record indicates future profits is either very naïve or just dumb. Logic tells you the track records on most robots don't add up - you get an income for life and you pay $100! Well if it were true no one would bother with a job, they would simply make money with a robot - nice fantasy but that's all it is, it's not the real world.

Do any Automated Forex Robots Win?

Yes there are some good ones and they do make money and you can expect 30 - 100% with the best ones, drawdown is about 20 - 50% and a losing period can last up to six months so you are in it for the long term if you want to use one.

There is a great free one the 4 Week Rule and its excellent for those seeking long term solid gains, its easy to understand, apply and has a solid track record and can be run in around 15 minutes a day.

You can make a lot of money in Forex trading but you won't make it will a robot with a simulated track record. If you want to win, get a proven robot, or even better learn to trade yourself, get the skills needed and you will be well rewarded for your effort and can make a lot of money.

NEW! FREE PDF REPORTS CATCH THE BIG TRENDS NOW! + FREE PROVEN TRADING SYSTEM Get free essential forex trading Pdf's and more Essential Forex Education visit our website for more essential wealth building info at: http://www.forextrendfollowing.com

Trading Forex - 10 Golden Rules For Success

By Albert Schmidt

If you want to trade successfully there are some rules you need to follow. For example picking a good trade and avoiding the bad ones. A bad choice carries big losses since they are detrimental to your self-confidence. You need to make a lot of decisions during your trading day. Without systematic discipline emotional impulses will ruin your trading skills since you will be choosing the wrong tools in wrong time.

Many short-term traders take trading as some sort of gambling. Without planning and discipline they are throwing out their money to the market. Some of them may make one or two accidental winning trades that only confirm this gambling attitude that will lead them to total collapse. Without discipline and money management these people quickly become victims of market.

Technical analysis teach trader to follow the rules based on numbers and timing. It helps to develop discipline that allows a trader to distance form his gambling attitude. Through consistent trade execution and right money management system trader begins working in market and stops gambling.

Market repeats the same patterns many times. The science of trend following helps you to build your system rules based on those repeated patterns and avoid chasing the shadows of profit.

The following golden rules will help you to avoid many mistakes in your trading and make it more consistently profitable.

1. Forget the news watch the charts. If you are not very confident in your experience of defining how the news will affect price movement watch the charts. They have already incorporated all the news in themselves.

2. If trend is up buy at the first retracement form the new maximum. If trend is down sell at the first retracement form the new price minimum. There is always an opportunity.

3. Buy as close to the support level and sell as close to the resistance level as possible. Everyone sees the same levels and waiting for the opportunity to take a trade at those lines.

4. Short rallies are not sell offs. When price retraces sellers take profit and market is ready to continue its major trend.

5. Do not buy below the main moving average and do not sell above the main moving average.

6. Do not chaise the move if you don't know where you will be exiting. Let's say you entered the market and it reversed you need to know exactly where are you going to exit to cut your losses.

7. Trends test the previous support and resistance levels. You can enter the market at those levels even if they are breached a little.

8. Always trade along the trend. Do not be a hero. Go along the trend.

9. Price has a memory. Whatever it did the last time it will probably do again at the same level.

10. Trends rarely reverse abruptly. First sell off always find its buyers. Look for consolidation patterns.

Albert Schmidt is a part-time currency trader. After quite a long time of struggle he learned to make consistent profit trading in Forex. Review a trading strategy he successfully uses in his trading Forex.

The Best Way to Learn to Trade Forex

By Albert Schmidt

I assume you want to learn to trade Forex since you are reading this article. Some people believe that you need to possess some personal traits to be able to trade currencies successfully. I believe that success in trading is a learnable skill. Anyone can learn to trade. The only thing you need is a strong desire to succeed. It is that desire that will guide you through tough times in your course of learning.

Besides a formal knowledge of technical and fundamental analysis you need to develop a disciplined approach to trading. If you are jumping form one trading system to another as soon as it starts losing money you will not succeed. What is the best way to develop discipline and a proper mindset for trading? This is the question you need to be continuously asking yourself.

I found a way that works best for me. And here is why. Most people come to Forex and any other business looking for freedom. You probably heard expressions like "Be your own boss" or "fire your boss". People come from the JOB environment with the job mindset and they fail because they don't have the mindset to be accountable to themselves. They cannot finish what they have planned to do.

Once I discovered this fact the rest was much easier. What you need to do is to find an accountability partner. It can be your friend or relative. The best-case scenario if it is a mentor who successfully trades Forex. But it can be someone who does not have any knowledge of trading. I personally have my wife to hold me accountable to finish my tasks. I report to her on a daily basis.

I think this will work not only with trading but also with any business you would like to get involved with. These are the steps you can take to develop necessary discipline to follow your daily or weekly routine. Once you have a partner that is going to hold you accountable explain him what tasks are you going to perform every day and what you want him or her to check with you.

For example pick a trading system and make a commitment to spend certain amount of time back-testing your system. Define how many trades on a historical data you are going to take each day. Now make a list of things that you want to develop or get rid of in your real time trading. It can be something like "I need to stay in a trade until price hits the stop-loss or take-profit level", "Never risk more than 2% of the account in any single trade", etc.

At the end of the day report to your partner how well you have managed to follow through your rules. It doesn't matter if a trade was successful or not. Even if you lost a trade but managed to stick to your rules count it as a success. If you made a profit by violating your rules it's a failure. Remember profit in a single trade will not make you a successful trader. Following your trading rules will make you a profitable trader in a long run.

Albert Schmidt is a part-time currency trader. After quite a long time of struggle he learned to make consistent profit trading in Forex. Review a trading strategy he successfully uses in his trading Forex.

Breakout Method - One of the Simplest Trading Methods

By Albert Schmidt

Many new Forex traders ask what trading system is better to start. I believe the simpler the system the easier can a trader learn to trade. In my opinion trading systems based on a breakout method are the simplest and easiest to trade. I would like to discuss the advantages of breakout method and give a few examples of it.

1. What is the breakout method?

First let's define what the breakout method is. Whenever you define a price range and the price breaks out of that range you have a trading opportunity. The range can be defined in different ways. Usually it's a period of time where price did not move a lot. It can be the period of Asian session. Sometimes an indicator can be used to identify such a ranging period. I use Ballinger bands to identify the squeeze in price range.

2. How to trade the break out method?

It's very simple to trade the breakout method. First you need to set a pending order to buy at the top of the range. Then you set the pending order to sell at the bottom of the range. Or if you can continuously watch the charts then you buy or sell as soon as price breaks out the range. Some people introduce more sophisticated rules into break out method. Fore example they can wait until candle closes outside of the range. The beauty of the break out method you know for sure where to place your stop-loss level.

3. Example of a Bollinger-squeeze breakout method.

This is one of my favorite trading setups. Place Bollinger indicator on your 15-minute chart. Look for the period when bands become horizontal and the distance between them becomes no more than 10-15 pips. The longer the squeeze lasts the higher the probability of a profitable breakout trade. Now place your orders on each side of the bands. The upper band is where you place your buy order, the lower band where you place your sell order. Stop-loss levels are placed at the opposite bands. With EURUSD pair this method gives at least 30 pips. But taking profit is actually art of trading. So you need to test your profit taking levels and methods with it.

Albert Schmidt is a part-time currency trader. After quite a long time of struggle he learned to make consistent profit trading in Forex. Review a trading strategy he successfully uses in his trading Forex.

Currency Day Trading - Why Currency Day Traders Lose and a Better Way to Trade

By Sonia Kristina

Currency day trading looks low risk and high reward to most traders but it is impossible to win at it and you will end up losing your equity. This article will look at why you will lose and a better short term method of trading...

So why is currency day trading doomed to failure?

The reason is obvious - all moves in daily time frames are of a totally random nature. You simply cannot judge what millions of traders are going to do in minutes or hours, it's ridiculous.

You Can't Get the Odds in Your Favour!

There are no support or resistance levels that can be trusted, you can't get the odds in your favour and that means a wipe out at some point.

There are however many vendors online who will tell you that you can win at day trading and they even present track records to prove it - but these track records are never real , just a back test.

Simply check the small print and you will find the words "simulated in hindsight" somewhere and that means - they have made no money for real and if you think a simulation, will give the same results in real time think again - it won't.

If you want to trade with a short term strategy you need to get a time frame which gives you valid data and where you can use tools on currency trading charts which will work and the best method is - currency swing trading.

Currency Swing Trading V Day Trading

Currency swing trading systems rely on catching moves from a few days to about a week and they simply trade into overbought and oversold levels. Its simple to understand, gives you plenty of action and can be very profitable.

So forget about currency day trading systems and if you want to trade short term, get the odds on your side and use a swing trading system and you can enjoy currency trading success with it.

NEW! 2 X FREE ESSENTIAL TRADER PDFS ESSENTIAL FOREX TRADING COURSE For free 2 x trading Pdf's, with 50 of pages of essential info and more FREE Currency Education visit our website at: http://www.learncurrencytradingonline.com

Automated Forex Robot - Beware - Most Traders Who Use Them Get Wiped Out Quickly!

By Sonia Kristina

Automated forex robots are the choice of many new traders but the profits they promise are just fantasy in most cases and the reality is a quick wipe out of your account. Let's look at why they lose...

If you want to trust an expert you can but make sure they can do what they and have a track record and no where is this more important than with forex trading robots. Fact is the profits they claim are not real, their fantasy paper profits.

Just check the track record and look at the small print and you will see that It's a back tested simulation.

Well to me that's not hard, a child could do that and paper profits cannot be spent down the store!

The acid test is doing it in the market and making real dollars, the huge amount of forex automated forex robots sold, have simply never done this.

How can you claim a system will make money for the user, when it's never made a cent in real time? It doesn't make sense to me.

Would you trust a system where the vendor hasn't bothered trading it, despite the fact he tells you it can make you a millionaire? Neither would I, avoid them.

Are There Any Good Ones?

Yes there are and we have written about a free one - The 4 Week Rule which works and will out perform all the ones with simulated track records, its explained in our other articles so look them up.

You can also get some with real track records which are solid and while these systems cost more, than the $100 buck simulations, you have real evidence of profits and can make your money back many times over.

When looking at any forex trading system, the key is to avoid the simulations, look for ones that have made money and ones you agree with the logic.

This means, that if know the logic, you can have confidence in the system and you can trade it through draw down periods, all systems have them and you need to apply with discipline until you hit a home run.

So there are few automated forex robots that can make you money, it's a tiny minority but find them and you can achieve long term profits.

FREE Successful Currency Trading Robot and More FREE Essential Education For free 2 x trading Pdf's, with 50 of pages of essential info and a FREE Currency Trading Robot visit our website at: http://www.learncurrencytradingonline.com

USD Vs GBP - Rising Or Declining Trends For Forex Trading?

By Pierre Manningham

So, what's the status of the two currencies as of right now? Let's just say the US dollar is quite low in relation to what it has been in the past. The crazy thing about it is that the U.S dollar is much more than many other countries - in the midst of the economy shake up - so when the economy corrects itself (which is what it is designed to do) - the dollar will be sky rocket high - possibly by mid to late 2009 which is what most experts predict.

So if you can trade cheaper currencies or what are usually cheaper currencies for the United States Dollar, it will be risky, but a great investment when the dollar returns to the great heights making you quite a bit of profit in the process.

Let's take a look at the US Dollar and British pound as a pair. The British pound has been worth more than the US Dollar for quite awhile, however, when America was experiencing a surplus in government funding - the US Dollar was actually worth more than the British pound.

Depending on who's president, and control the US senate will control the economy including fiscal spending, tax cuts or rebates, etc. It's just important to pay attention to the government as the government has quite a say in the economy since the original great depression.

You wouldn't be a fool to hold on to your British pounds simply for the fact that the most "tragic" bank failure in the history of the U.S came into fruition with Washington mutual coming down and being bought out by a major company. In the U.S economy, things are either really good or really bad - this is a case of really bad, but it will correct itself.

You have to make this trading decision all by yourself or just wait and see how the economy's going to do. People are actually stock piling on the U.S dollars when it is restored to new heights so they can have an enormous sum of cash when the U. S economy is restored to former glory - the choice is up to you!

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Forex Expert Advisors - What Are They and How Do They Work?

By James Woolley

Forex expert advisors are currently extremely popular amongst the forex community. It's not hard to see why because many people soon realise how difficult it is to actually make money from forex trading so they turn to automated forex robots, which is essentially what a forex expert advisor is.

Let me explain to you how forex expert advisors actually work first of all. Most of these systems are developed to work with Metatrader 4, the popular charting and trading platform, so once you buy one of these expert advisors all you do is download the software and configure it to work with Metatrader 4. This process usually takes no more than a few minutes at most.

You are then ready to set it up to start trading automatically. You can either start trading with real money or you can take the wiser option of testing it out on a demo account initially before letting it trade with real money if it's profitable.

So what are the advantages of using a forex expert advisor to trade the markets?

Well the major benefit is that you no longer need to come up with your own profitable trading system. The expert advisor was designed for this purpose. They have been designed to find high probability set-ups in a certain way, and they will keep trading these similar positions over and over again, hopefully resulting in big profits. All the emotion is taking out of the whole trading process, which is very often the downfall of so many forex traders.

Of course not all forex expert advisors end up being huge money-making machines, which is why you should choose your EA carefully and test it out vigorously before trading with real money. A lot of the EAs sold on the internet look great when you read their sales page, but many of them quote backtested results on demo accounts which can therefore be misleading because they very often do not reflect real-life trading conditions such as widened spreads during news times, price spikes, etc.

You ideally want to look for expert advisors that the developer actually uses themselves, otherwise you know they're just trying to make a quick buck by selling a robot that isn't actually very profitable. If you can do this, then there is no reason whatsoever why people from any background cannot start enjoying the vast profits that can be made from forex trading because forex expert advisors can make this a reality.

Click here for reviews of popular forex systems and software such as Forex Roboteer and Kiss Futures.

How to Choose Forex Robots For More Profitable Trading

By Sean Bailey

Forex robots run in the background and cannot be seen. It is quite similar to forex prediction software in that it determines the forex forecast to help you in your trading ventures. Because there are so many different forex robots available, this article will help you determine which one is the best for you to use.

When you are looking at various forex robots, make sure you are planning to get one that is updated. Depending on the version, it might be an older model of the software which can leave out certain useful features that the updated versions contain. Another thing to look at is how often the website is updated by the webmasters. This will help you determine if the software is up to date. Having outdated software will only defeat your purpose by making wrong predictions. Charting is another thing you need to look at when deciding between forex robots. A robot that can chart efficiently will be a huge step forward in your trading. We recommend a robot that can deal with RSI, Fibonacci levels, moving averages and Stochastic. Lastly, look at consumer testimonies and reviews on the software you are checking out. Their reviews are often brutally honest because they have actually used the software themselves. Consumers are always ready to be negative if they are not satisfied with a product because they invested their hard earned money in it.

Always go with a company that offers a money-back guarantee for their forex robots because this is a strong indication of whether or not they feel confident in the product they are selling you. This will also make your purchase safer as well as give you the confidence you need to go into the forex market with a major tool of the trade.

There is an increasing number of Forex Robots on the market today. However not all of them are equal. The best way to get started is to read Forex Robots reviews. For a list of reviews, CLICK HERE

Automatic Forex Trading - More Money, Less Work

By Sean Bailey

Automatic forex trading has multiple advantages over manual trading and anyone involved in forex will tell you the same thing. With automatic forex trading systems, the trading is done for you in real-time. Many traders will tell you this is a difficult task to do manually because most transactions happen in milliseconds.

This automatic forex trading software makes decisions for you based on future, past and current market trends and takes the human emotion out of the equation to better maximize your profits and minimize your losses. It can pinpoint the exact moment a trade should be made and makes it on your behalf, based on the settings you have customized. When you make your trades manually, you have to constantly watch the market yourself which can be time consuming. Using automatic forex trading software means the platform watches the market for you, leaving you a lot of extra time to go about your daily life. With this software there is no need to constantly sit at your computer monitoring the market yourself. Simply configure the platform settings and let the computer do the work for you.

Because of the numerous platforms available today, automatic forex trading can be done in many different markets. You don't have to be limited by only one option anymore. Automated features in the software allow you to analyze short-term data. Manual trading makes this feat almost impossible because the short term is so short that analyzing it would take too long. Not only can automated software do this for you it can also predict future market trends to forecast future fluctuations in the market. However, risk management is still very present even with automatic forex trading software. Automated systems make checks difficult because of environmental synchronization for even the smallest detail.

If you are starting to learn how to trade the forex, it is a good idea to use Automatic Forex Trading to help make some profits while learning the ropes. These forex robots can make your trades easier and reduce the risk of losing money. The best way to get started is to read automated forex software reviews. For a list of comparison, CLICK HERE

Forex Autopilot - Can Forex Autopilot Be Your Own Personal Goldmine?

By Ron Henson

Forex Autopilot bills itself as the "Automatic Money Making Robot". The creators of this autopilot Forex trading system is a highly ranked industry insider who partnered with a mathematician. One of the creators, Marcus Leary further claims that he's generated $1 million cash windfall in one year working from home. Impressive figures to say the least and fortunately Mr. Leary backs up his claims by showing copies of the actual live trading account.

Forex Autopilot is designed to be so simple that even people that have never traded Forex can use the trading system. The fact that it is designed so beginners can use it is good news for those who always wanted to break into the Forex market but didn't quite know how.

I was very glad to see performance reports and sales literature. This is always important so that you can get an idea of how a Forex trading system might perform for you in real time. The performance report showed the percentage of profitable trades at over 95%. Based upon my experience that number seems high but in reality if you can trade in real-time and get even a part of that you could do very well for yourself.

From everything I can see the creators have put a lot of time and effort into creating automated Forex robots that analyze the markets. What this means is that all the hard work has been done for you.

The system creators offer a risk-free way for you to check it out to determine if the system will work well for you. They have an eight week money back guarantee. That gives you an opportunity to open up a free demo Forex trading account and test the system out to your hearts content.

I have a lot more Forex Autopilot review information at http://www.forexcounselor.com/

Forex Trading - Why Technology Advances Have Not Increased the Odds of Success in Forex!

By Michelle Hendrix

In forex trading the application of technology and complicated mathematical formulas has not increased the chances of success and here we will explain why and also how you can win with a simple forex trading strategy...

The answer is simple - because forex markets don't move with mathematical accuracy and if they did, we would all know the answer in advance and there would be no market!

Why You Cannot Predict Forex Prices

It's a fact that you cannot predict markets in advance and all the people who say you can are wrong. You will see numerous forex robots that tell you can trade on auto pilot and win all the time - but they base there assumptions on a back tested track record - that means knowing the closing prices.

All they do is bend there system to fit the price sequence and make a profit. In real trading though, the same price sequence never repeats again and the system loses and you cannot bend the system rules going forward.

Learn the Odds Trade them and Win Big

Forex trading is an odds game - sure you can't trade with mathematical accuracy but you can make money just like a successful poker player does. He doesn't win all the time and has losing periods but he knows, if he plays the odds and uses sensible money management he will win.

Be Complex and Clever and You Will Lose

Complex theories are developed and used all the time but it's a myth that a complex theory will beat a simple one - it won't. Simple systems work best and always have because they are more robust with fewer elements to break.

Think about all the advances in computers software and theories, we have had in the last 30 years yet, despite all these advances, 95% of traders lost money in yester year and they still do today. Advances in technology and forecasting simply didn't change the odds.

This shows that you don't need to be complicated to win.

Keep it Simple and Win

Forex trading doesn't require that your clever or make a lot of effort - it requires you to use a simple robust system which you understand and will have the discipline to trade through losing periods, with good money management, until you hit a home run. Its discipline to apply a robust system that's the key and the system can be very simple

Forex trading is an odds game and will never change, so keeping it simple is the best way to trade. Don't complicate something that's simple, accept it and build your forex strategy around the odds and you will achieve currency trading success.

NEW! FREE PDF REPORTS CATCH THE BIG TRENDS NOW! FREE PROVEN TRADING SYSTEM Get free essential forex trading Pdf's and a FREE Trend Following System visit our website for more essential wealth building info at: http://www.forextrendfollowing.com

Forex Trading Strategy - Catch Every Big Market Turn With This Free Tool!

By Kelly Price

Many traders believe the market can be predicted and charts move to some higher force - their wrong. Another group believe the fundamentals drive prices and their wrong to - if you want to win with your forex trading strategy you need to understand the key factor which is...

Market sentiment

Market sentiment is the views of all the traders added up and it equals price and many people totally misunderstand its importance.

We all have the same facts to look at - but we all draw our own conclusions about what they mean and this is the price. So the fundamentals are NOT important, it's what traders think of them en-masse which is and this is why you can't trade breaking news.

Charts reflect the bullish or bearish sentiment to a degree - they show you the reality of what traders think - but they don't give you clues to the future of what humans may do next - that's why all the clever, mathematical, predictive theories DON'T work.

So how do you judge and trade sentiment?

Well there is a great tool you can use and it's free and it's called The Net Traders Report from the CFTC. It gives you an idea of what traders are doing in currency futures but is also applicable to cash.

Follow the Smart Money

Its real advantage is it gives you free access to what the smart money is doing and this is a huge advantage in making your forex trading strategy work.

The report shows you what 3 main groups are doing.

The commercials

These traders are the ones who do it as hedging and their not motivated by greed and fear and know fair value

Large Speculators

These are funds and big individual traders

Small Speculators

These are all the rest of the traders

The way to use the report is to watch for the commercials to sell or buy heavily, when they are opposed by both speculator groups. The commercials move slowly as their hedging and only will do so when prices have shifted to far from fair value.

The commercials have a history of being long at important market bottoms and short at market tops.

When you see big extremes you know a break is coming.

The way to use the report is to spit your set up and then move to your charts for confirmation. The Net Traders Report gives you the set up which indicates when prices have moved to far from fair value. You then wait for the indication of a turn on your forex charts - then hit it.

Normally, once the market eases the speculators will get shaken out quickly, as they scramble to get out governed by their emotions, triggering a counter trend.

The commercials are the smart money and if you want to win, you need to look at their actions - they will tell you when a market has moved to far from fair value and when greed and fear are creating a sentiment extreme.

You can then hit the big contrary trades for big profits.

It's a simple, free tool that gives you an insight into sentiment and its an extremely powerful addition to your forex trading strategy.

NEW! 2 X FREE ESSENTIAL TRADER PDFS ESSENTIAL FOREX TRADING COURSE For free 2 x trading Pdf's, with 50 of pages of essential info on Contrary Trading visit our website at: http://www.learncurrencytradingonline.com

Currency Trading Education - The Best Free Sources to Help You Win

By Kelly Price

If you want to win at currency trading, you can buy advice but most currency trading education you need you can get for free and here we will look at how to find the best and enjoy currency trading success...

Let's first look at currency education that needs to be avoided.

Forex Expert Advisors

Most who claim they are not - anyone who claims they can make you money with no effort should be avoided.

If you want to see if an expert is a not qualified, look for the words "simulated" or "in hindsight", on the track record presented - this is not real trading and the track record is made up, to sell currency trading courses and systems.

Forex Forums

Want to find losers? Then currency trading forums are great. What trader who makes money uses them?

I don't know any. It's mostly losers who are trying to make themselves feel better, by dispensing their wisdom, or vendors trying to peddle their products - most of which are junk. Avoid Currency forums!

News Sources

We have better news than ever but traders need to learn 30 years ago before we had lots of currency news sources 95% of traders lost and 95% lose today, so improved news hasn't helped.

Prices don't move to the news, they move to trader's perception of. Try and trade breaking currency news and you will lose.

Brokers

Most broker education won't help you - if brokers were good at trading, they wouldn't be brokers! Also, as brokers mostly trade against you when you take a position, it's a conflict of interest.

Good Sources

So what about the good sources? Well the good news is:

There is plenty of it and you can get a good solid currency education for free.

The best way to trade is to use currency charts and base your market timing on technical analysis. There is plenty of free information on the basics, all the different indicators and charts for free, so you can look at the indicators, try them and come up with a simple, robust currency trading strategy.

Any currency trader, who wants to win, should also learn breakout trading and you will find a lot of information on this as well.

The fast is anyone can learn currency trading, there are no secrets and the reason most traders lose is - lack of discipline and poor money management and there is plenty of information on this too.

Traders simply lack discipline and CANNOT keep their losses small or trade through losing periods.

Worth the Money.

You can get some great information on discipline for free but I Would recommend spending $100 or so, on some books, from the really great traders, to get more insight into the mindset to succeed.

These are traders who have walked the walk and don't simply talk the talk. We reviewed our top ten in other articles so look them up - this is money well spent.

So in conclusion, you can get all the currency trading basics for success for free and can build a currency trading strategy - your major challenge though is money management and discipline.

Its here I would recommend spending a few dollars, if you don't think you have discipline ( and most traders don't) and then, the combination of a simple, robust, currency trading system and the right mindset to apply it, can help you win at currency trading.

Getting the right currency education is easy; getting the right mindset is what separates the small number of winners from the losing majority.

FREE FOREX TRADING SYSTEM! For 2 essential free trading Pdf's and more FREE Currency Education and an exclusive RISK FREE Currency trading Course visit our website.

Automated Forex Robot - Get One That's FREE Easy to Use and Made Millions!

By Kelly Price

If you are considering buying an automated forex robot, there are many to choose from but most will lose you money, as they only have simulated track records. In this article we will give you a system that's free, is simple to understand and made millions!

Before we look at our free automated forex robot, let's look at why it beats the vast majority of sold ones.

Beware of the Back Test!

The ones you see advertised heavily online are sold with a back tested track record and of course anyone can make up a track record, knowing all the facts but the acid test is real profits in the market.

The free forex robot we are going to look at here, has been making big profits for over 25 years also, it's based on timeless logic and will continue to work.

The System

The system itself was developed by one of the great traders of all time - Richard Donchian, when he noticed the importance of the 4 week cycle in the commodity and currency markets and the system is called - The 4 Week Rule.

Its only one rule and here it is:

Execute a long trading signal, on any break to a new 4 week high. Reverse your position to a short, when you hit a 4 week low. Continue to stop and reverse, on 4 week highs and lows and always maintain a position in the market.

Simple and Effective

That's it and you're probably thinking - that's really simple! Does it make money?

The answer is yes it does. Many people think that complex systems make money but it's the simple ones that do because they are more robust with fewer elements to break.

Why the System Works and Will Continue to do So

It's based on very sound principles of market behaviour which will NEVER change.

The first principle is that markets will always have big trends up or down. Of course currency markets trend for long periods, sometimes years and this system will get you in and keep you in, all the major trends.

The second principle is, most trends start from new market highs and lows and this system is based on buying and selling these breaks for big profits.

It also has other important advantages which are:

1. It doesn't take long to trade and you can easily execute your trading signals in around 15 - 20 minutes per day and you don't have to watch the market.

2. You don't have to think - the signal is clear cut, all you have to do is place it in the market.

So what are the downsides of the system?

This is a trend following system, so when markets move sideways, it will generate losses but you can add a filter and exit the trade on a 1 or 2 week high or low and then wait for the next 4 week signal to get back in.

Both methods will work but using the filter smoothes swings in account equity.

You Need Discipline

The other problem with the system is you need the right mindset to follow it and most traders have a real problem following long term trend following systems. Its clear cut and you must follow the signals as given and stick with it - longer term it wins but requires patience and discipline to follow.

A Simple Proven Route to Profits

This system has been around for decades and while simple, it simply delivers big long term gains and that's more than can be said for the numerous junk automated forex robots that are sold online - lots of hype and no substance! This one has no hype but lots of profits so know which one I would rather trade!

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