How to Get the Most Out of Your Crash Course Forex Trading Workshop?

By Winston - Ng

Introduction - The Science of Learning

There really are only two kinds of trading workshops, one that wants to teach you trading and the other that just wants to skim you of your money. With enough due diligence, most of us would be able to find good forex trading schools out there that actually teach because they believe in helping you through your learning experience.

However, even for the best schools these days, the market for Forex Education has become very competitive, and the way most companies stay ahead is by compacting their education process. It results in lower overheads for the main trainer and these savings are passed on to the client.

Unfortunately, it then becomes like one of those seminars that you attend the whole weekend and come out all dazed. Somewhere in there, you knew that there was lots of content, but yet you feel dazed because you are stuck at where to start.

This is because most workshop attendees have the false belief that the learning begins and ends over the workshop weekend. There is an expectation that they are equipped to go trade on their own after two days of theory lessons.

The reality starts to set in when they encounter hiccups in their first few trades, they suddenly realise that they are so many things they do not know. Yet, it seems too troublesome to re-read the whole manual.

Consequently, most retail traders then give up on the whole process after being demoralized by the sense of overwhelm.

Identify the Areas that will really make a difference to you

Hence, to avoid coming out star-gazed at your next Forex Trading Workshop, you should set up a plan for yourself to revise and study your notes in a structured manner beyond the weekend.

This is the best way for you to systematically reinforce and implement the learning lessons into your life. Furthermore, the split-up sessions would give you time to master each level before you move on to the next level!

Create your own Homework Schedule

You can start planning your "tutorial" schedule during the weekend workshop itself! Firstly, separate the material content into 8 main areas. You can usually just take what is listed on the content and separate it into 8 parts. Most course providers would have created the contents with some basic flow.

Next, be aware to highlight segments that you feel you really need to read up further or mull on it further.

It is essential that this whole process is done during the workshop proper itself, because you will forget the essential parts once the workshop is over! Research has found that we only retain approximately 7% of anything we hear. In trading terms, that would mean a really large sum of money to lose!

Now that you have marked out all the key areas, and categorised the content into 8 major segments, you need to wait for break time to pull out your organizer.

You will want to give yourself at least an hour a week to read through the segments and another hour to work on the homework for that segment. Alternatively, with the advent of the internet and wikipedia, you can even research more on each topic.

The essence is that good traders build on a solid foundation and it is the depth of the journey that matters rather than the speed at which you get there! History is littered with glorious hyper-speed trading success stories who crashed as fast as they rocketed to fame.

Focus on Practice. Its like exercise, we don't feel like doing it. But the most growth will come at the last push-up

You will want to ensure that there is a lot of practice in all the skills that have a direct impact on your trading, even if your instructor did not spend time doing it! Nothing is so simple in trading that you do not need to practice it.

For example, many instructors will skim over Support Resistance lines and instead focus on secret strategies that they are excited to teach you. Nonetheless, you would be amazed how much you would learn by doing years of historical work on support resistance since all indicators would inevitably be affected by support resistance lines.

You can test your own confidence level by doing support resistance lines for other instruments like stock indices, and commodity charts, thus building a robust confidence in your ability to swiftly and effectively pick out patterns!

Troublesome, but small when you think long term

At this point you might begin to ask yourself why would you even want to go for a course if there is so much work to do by yourself? Well, our optimum learning process does not change regardless of where we live or how we live. When we want to learn anything new, we need to space it out with repetitions until we get the entire process in our daily habit system.

Research has found that once you do anything for 3 months, it becomes a habit rather than an experience. Our whole life is essentially made up of the habits that we live every single day. Successful traders like successful people have very empowering and profitable habits on a daily basis, to continually activate and refine their trading prowess.

Winston Ng Chief Driving Instructor Forex Driving School If you find this whole process challenging, do come for our uniquely structured 8 week forex mastery course where our trainers would teach and more importantly mentor your trades over 2 whole months. Most people don't know what they don't know, thus they learn most when someone with experience can guide and empower them through the learning process! http://www.ForexDrivingSchool.com Winston Ng started his foray into the financial world out of necessity, rather than seeking wealth and riches. He travelled the world from the U.S., to Switzerland to Australia to learn from the very best in financial knowledge and psychology. This includes learning from Private Bank Fund Managers who lists celebrities among their clients, Professional Forex Traders, Stock and Options Traders who consistently achieve 50% p.a., as well as experts in Wealth Psychology who manage and grow multi-million dollar accounts. He also counts among his friends - global real estate developers, franchise owners, doctors, and executives who earn in excess of USD$1 million a year. His self-trading experience goes back almost 8 years starting from options, to stocks, and now he has streamlined a safer way to profit from the Global Marketplace through proper Forex Trading setups that require less effort and more time to do the things he enjoys in life! Check out his Forex Driving School at http://www.ForexDrivingSchool.com Reproduction of this article You are free to reproduce this article on condition that it is reproduced in its entirety and with all the hyperlinks intact. The article is not allowed to be sent out as spam, unsolicited mail or in print format. FXDS Learning Group Pte. Ltd. Reserves the right to ask any person to remove the article from their site or email in the event of abuse.

Which Forex Software Review Will Put the Big Bucks in My Pocket, Isn't That What It's All About?

By William Alheim Jr

For a Forex software review to provide valuable, comprehensive and cost effective information to the end user the most critical factor is the neutrality of the evaluator. In other words, if a site offers only one or two reviews of Forex software you have to wonder if they are really offering an unbiased review or attempting to sell a product. Next, the person or team actually testing the product really needs to be professional Forex traders. And finally, you need to determine if they really tested the product for an extended period or just briefly looked to the item.

Below are a few short but valuable tips to consider when attempting purchasing Forex software. I have so many people emailing me and asking the same question that I decide to write an article about it. The questions is the following, "which is the best automated robot Forex software system that you can just turned on and walk away from and it is going to make me rich?" For that reason and that reason alone I went out and bought a very large heavy frying pan and I am now researching how to send it back to them through email and make sure it hits them on the head. If I have said this one time, I have said it a thousand times, none of those systems WORK! I will say it a different way, you will LOSE your money if you attempt to use one. Let's try to say the same in differently fashion just to make sure I get the point across, they STINK, they are BAD, they are SCAMS, and finally they just are AWFUL! Do you get the point now? Is there anything else that I really need to add?

Hopefully that is well understood now, but of course not, tomorrow I will have at least twenty emails asking the same question and I am going to just send out this article, along with the frying pan. The principle reason for purchasing a Forex software package is to utilize it as a TOOL to help you trade and NOT a decision maker. The FX software packages for the most part do a good job of gathering information and interpreting it to the point it is useful to the user as a helpful tool to facilitate the decision making process. That is essentially what they do, and to be frank with you, that is all they do good. They really can't do anything else. Understand now, I hope so!

I am sure your saying to yourself, if that is all they do are they worth the money? Have you lost your mind for even asking that question, they are worth ten, twenty times what they actually cost, if not way more. These systems are able to quickly and effectively capture data and evaluate in a fashion no human could ever do. Most professional private traders employ at least two packages simultaneously. The big time traders all have some kind of trend system as well as a software package that sends them signals. The pros them might add some kind of specific formula based system they have found useful in identifying profitable trades. For that matter, they might much more than one formula based system working with there main trend and signals systems

A good Forex software review can certainly help you with the buying process. A few points to remember are, first there is NOT an automated robot that works. Second, you pretty much are a fool if you are attempting to trade the Forex markets without a high quality trend and signals based Forex software systems. And finally if you purchase a top tier rated product you can be pretty sure you're getting something that is going to beneficial and make you money.

We have researched, tested & reviewed 100s of Forex Courses, Software Systems and Brokerage Firms which we only list our TOP 10 to help you LEARN FOREX TRADING. For 100s of FREE FOREX TUTORIALS please visit LEARN CURRENCY TRADING. Good Luck! I look forward to seeing you on the trading floor making money! William R. Alheim, Jr., CPA, MA

Where to Open Your Forex Accounts in Order to Maximize Your Profits and Cash Flow

By William Alheim Jr

Since 1997 when the Foreign Exchange Markets (Forex or FX) where opened to the private investor there has been a proliferation of brokerage firms offering Forex accounts and the opportunity to trade the once private domain of the large financial institutions. When a individual is attempting to select their first account they are going to be overwhelmed with marketing pitches from the different Forex accounts attempting to explain why there brokerage firm is the best and why you should only invest your money with them.

The selection processes is not an application that can be completed quickly if you are really going to take time to examine all the factors that could or will make you a successful Forex traders or one that wishes they never heard the word Forex. A good place to start is by asking your family and friends which firm the use and why? Make sure to ask them what they like about the Forex brokerage firm they use and also what they don't like about it. First hand advice from people you trust is always beneficial information and is usually held in the highest regard.

I personally have opened an account at virtually every brokerage firm I have ever found. That's what professional do, it a compulsion thing of some kind. At least that is the way I explain it to myself in an attempt to justify this need to see what everybody has to offer. I always say to myself the same thing, "it doesn't cost anything, so why not?" Seriously though, I always come back to Easy Forex as my principle trading platform. I just can't seem to get away from them.

I use Each Forex as my main Forex account for the following reasons. First and foremost is their tremendous customer service. Next, I always examine a firms security features and the downtime of their servers. It only takes one time for a server to go down when you attempting to get out of a bad trade and you lose $50,000 instead of the $2,000 you would of lost if the server had not go down to realize there is a reason why Easy Forex is one of the largest firms in the world. They have two separate severs kept at different locations, so if one ever has a problem you are immediately transferred to the other one. It is almost impossible to explain how important this is to someone that has never traded, so trust me it is critical. And finally when the opportunity permits itself I am able to triple my profits on specific trades as compared what the normal firm offers. One aspect of Easy Forex I really like is the ability to trade Gold and Oil at the same time I am trading currencies.

You can have as many Forex Accounts as you want. They are all free to open which allows you to look around and get a fell for the place. Most brokerage firms offer you a free demo account to use while you are trying them out, which I highly recommend. I like Easy Forex, but that is my personal preferences, I fully encourage you to look around and join as many firms as you desire and determine which one meets your personal wants and needs.

We have researched, tested & reviewed 100s of Forex Courses, Software Systems and Brokerage Firms which we only list our TOP 10 to help you LEARN FOREX TRADING. For 100s of FREE FOREX TUTORIALS please visit LEARN CURRENCY TRADING. Good Luck! I look forward to seeing you on the trading floor making money! William R. Alheim, Jr., CPA, MA

How to Learn Forex Trading Online and Become a Professional Forex Trader and Rich at the Same Time

By William Alheim Jr

Learning to trade the Foreign Exchange Markets (Forex or FX) has never been as easy as it is today with the spread of the internet. It is quit simple to learn Forex trading online with many fantastic free and commercially available recourses available which are growing each and every day. After becoming educated in the finer methods of trading, the next step is to start the experimentation processes and refine the techniques you have been taught in a customized approach with meets your individualized goals related to realizable profits.

Most individuals that ask me for advice think that is a long, tedious, expensive and complicated process to become a rich professional Forex trader. WRONG, WRONG, WRONG! Do I need to say it any more times? Do you know that if you played basketball in the NBA and made 50% of your shots you would be considered one of the greatest shooters of all time?

If you are trading Forex you are guaranteed to make 50% of your shots, that's right you will make winning trades 50% of the time even if you just flip a coin when attempting to decide which currency to pick. So how hard can it really be? Not to difficult is the answer!

If it is so easy then why do so many novice traders never make it to the next level and become professional traders? This can be answered with one word, GREED. What they don't understand is your not going to make a million dollars your first week of trading, but they are going to try anyway. The financial killer to most beginning FX traders is the MARGINS offered by the brokerage firms.

If there were no margins one would simply need to make more money than the commissions charged by the brokerage firms to make money. After all, you are GUARANTEED to be correct 50% of the time when entering a trade. There are only two paths a currency can go, UP or DOWN. They can't go any other ways, all though some of us in the profession for a long time sometimes think they do.

So where do you learn about controlling your margins? I will first tell you where you don't and that is the FOREX BROKERAGE FIRMS. Of course it is not in there interest to explain the financial snake pit you are about to enter. To learn Forex trading online and how to RULE margins and NOT let them RULE you then you are going to need to sign up for a commercial available course.

If you knew nothing about the Forex markets at all, but you fully understood the concept of margins and how to make them work FOR you as opposed to AGAINST you then you would not be reading this article, but sipping frozen banana and rum drinks under an umbrella on a beach in Tahiti. Just sit back and think about for yourself a little bit, if you are guaranteed to make winning trades 50% of the time exactly how can you not make money at this?

We have researched, tested & reviewed 100s of Forex Courses, Software Systems and Brokerage Firms which we only list our TOP 10 to help you LEARN FOREX TRADING. For 100s of FREE FOREX TUTORIALS please visit LEARN CURRENCY TRADING. Good Luck! I look forward to seeing you on the trading floor making money! William R. Alheim, Jr., CPA, MA

Automated Forex Trading System - What is a Realistic Profit Objective Per Annum?

By Sonia Kristina

Many traders want to use automated trading systems but what is a realistic amount you can make with the best ones? Let's have a look at growth rates to drawdown of the best ones...

Let's take a look at the risk reward but first we need to have a reality check and it's the myth of the simulated profit presented by vendors repeating itself, when you trade the system.

Simulations disregard them

You will see a lot of robots claiming huge gains thousands of percent per annum in some case but keep in mind this is back test. This means the vendor gets a segment of data buys and sells wherever he wants ( knowing all the highs lows and history! ) and then puts it out as a track record.

Now it's pretty obvious, if you have all the data to hand, you can make huge profits even a kid could do it. That's not the world of real trading though its fantasy. In Forex, you have to trade without knowing the price and that makes things a little more difficult.

Let's move away from the simulations and look at some realistic numbers.

Growth Rate and drawdown

As a general rule the bigger the gains the bigger the drawdown.

In over 25 years of trading the best automated Forex trading systems I have seen ( and I have reviewed and tested hundreds) will generally produce 30 - 100% annualized gains over a 3 year holding period and drawdown is normally between 20 - 50% and the duration to recovery is normally 2 - 6 months and these are the best.

Never trust a system that says it has little or no drawdown. Check the track record carefully and look to see if its simulated.

Forex robot trading is actually not a quick way to riches it's a long term investment.

Of course you can make a lot of money over the long term but you will a losing period so be prepared to accept this.

Peak to Valley Drawdown

When you look at an automated Forex trading system, don't just look at the average drawdown look at worst peak to valley drawdown. This is if you had joined on the worse day and see if that fits your risk tolerance in terms of size and time to recovery.

Buy a System or Get a Free One

If you want you can buy a robot, avoid simulations and spend a bit more money and get a proven one. You can also get a few free ones that make money and we are big fans of the 4 Week Rule. This system is easy to understand, is proven over 25 years and has soundly based logic. Check out our other articles for more information on this one - its good.

So look at the long term shop around and you could soon be making 30 - 100% annualized gains in around 30 minutes or less a day with an automated Forex robot - do your homework and you will be well rewarded for your time.

FREE ESSENTIAL FOREX TRADING PDF's! + FREE FOREX ROBOT! For 2 essential free trading Pdf's and for more on a FREE Currency Trading System and an exclusive RISK FREE Currency trading Course visit our website.

Automated Forex Trading - Is it a Better Option Than Manual Trading?

By Sonia Kristina

Is trading an automated Forex trading system a better option than trading yourself? Let's take a closer look...

You will lots of advertising which tells you a robot is better than a human at trading and here are some of the common claims made:

1. More Time efficient

They are time efficient and many can be operated in 30 minutes a day or less but manual trading can be just as quick.

2. They Take Care of Money Management and Discipline

No they don't - a trader has to place his stops in the market and it depends on his discipline furthermore, I have seen very few sold forex robots with sophisticated money management they normally don't even bother and leave it up to you or take huge risks.

3. They are More Profitable than Human Traders

There not more profitable at all, there as good as the programmer!

Of course, the track records you seen on most robots would make Warren Buffet proud but the catch is:

There not real, just a back test simulation on paper and because the vendor simply bends the rules to fit the data, most collapse in real time trading, as the data segment never repeats exactly the same way again. We all can all pick tops and bottoms, when we know what happened but that's not real life. Ever wondered why you get financial freedom for $100 now you know why.

There are some good solid real time track records from the best robots and they tend to be on par with the best manual traders with no clear cut winner.

4. They are based on Complex Mathematical Formulas

Big deal, since when did complicated mathematics have anything to do with Forex trading success? You're not dealing with certainties in forex, your dealing in an odds game so complexity is not necessarily a help, in fact simple systems work best, as there more robust in the face of brutal ever changing market conditions.

So is automated forex trading software better than manual trading?

The answer is - if you have a good system, you can have an automated one or your own, where you are subjective and both can make you money.

In both instances though you have to be disciplined in application and believe in your system to follow it with discipline.

I personally like a mixture of both. Always keep in mind the proof is in the profit and the best automated software is only as good as the programmer and the method you choose is really dictated by your personality.

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

Are Automatic Forex Trading Systems As Good As They Sound?

By Sean Bailey

Anyone who has entered the Foreign Exchange Market is aware of automatic forex trading systems. These platforms, in theory, offer benefits and features that any investor would find useful. However, at the same time they are a very high potential to put you at a maximized equity loss.

The most common problem with automatic forex trading systems users is that they often choose the wrong platform to meet their personal investment needs. The mistake is that they usually choose a platform that is historically profitable without checking out the fine print. It might shock some of these investors to know that the fine print of that profitable history was actually just a simulation. Another common mistake is that users are often under the impression that since this software can run 24/7, it will garner them continuous profits and this simply isn't the case. If you want to maximize your profits you will need to observe how the software works within the forex market to make yourself more knowledgeable and better your trading skills. This will also build your confidence.

It should also be noted that while there are many various types of automatic forex trading systems available, only a few are actually reliable. Just because a forex friend might recommend certain software does not mean this certain one will meet your individual needs. Do your own homework to make the best decision about which platform is the best for your own use. While a certain type is right for a friend it might not be right for you. This software should be used alongside research, strategy, knowledge and skill. Also look for platforms that offer real-time updates. The time it takes the software to update could mean a major gain or a major loss for you.

Regardless of which software you choose, if you are serious about maximizing your profits through leverage, it is still highly recommended to use Automatic Forex Trading Systems to help you achieve that. However not all softwares are equal. The best way to get started is to read Forex Robots reviews. For a list of reviews, CLICK HERE

The Secrets of the Forex Signal Trade

By Max Branner

Forex signal trade software is the future of forex trading. It's starting to catch on, with an estimated 25% of all traders currently using it in some form to enhance their campaigns and trades. This is up from the 18% of traders who were using it just three years ago, so as you can see forex signal trade software is on the incline. This is for a number of reasons.

Forex signal trade tips are more accurate than any others which you could possibly receive. This is because they are generated entirely and 100% based on the market and tested mathematical algorithms. They include the entire history of the market in their tips, taking every change and trend into account in generating the most precise tips, and the best of these programs are spot on near 100% of the time.

There is also a great deal of less human error involved with forex signal trade software. It nullifies any possibility altogether. In the past, traders didn't have the luxury of using precise computer tip generation and instead had to rely on trading experts and analysts. These analysts looked at trends and changes in the market and as best they could predicted where it would go next. Unfortunately for them, however, you've got to be able to take the scope of the entire market, not just a recent readable slice, as it skews your results. This can be and was impossible to do before the aid of forex signal trade software.

The best publishers offer constant free updates to keep their forex signal trade software and tips as up to date and as fresh as the market itself. In a market where success is measured in accuracy, there is no substitute for forex signal trade software.

If you're interested in reliable and guaranteed income in the forex market, visit http://www.forexautotradingreviewed.com for updated reviews on the leading forex signal trade software. Start down your path to financial independence once and for all.

2 Steps to Guaranteed Forex Trading Profit and Trading Like a Pro

By Max Branner

Everyday, virtually hundreds and thousands of would be forex traders throw their hats into the ring without knowing the first thing about the market or the business and expect major forex trading profit in their first day or two. You'd be amazed to know the number of traders who jump blindly in thinking they'll get rich from watching a couple of hours of MSNBC. Conversely and unfortunately for them, these traders oftentimes lose everything very quickly. It's important to follow these two major steps to efficiently achieve your own considerable amount of forex trading profit.

Begin with a forex demo trading account. Some people flame this way of starting out and the only possible reason I can surmise is because they had a helping hand when they started out. When you're investing and risking your own money, there's no time for on the job training. Forex demo trading affords you the unique opportunity of trading with virtual money under the same conditions as real traders. During this time you can learn the basics of pips and spreads, and generally just get a feel for the market.

It's generally recommended that you practice demo trading for at least 2 months before transitioning into the real thing. Make sure you have a number of successful trades underneath your belt, a long succession of them to build your confidence. I'm going to backtrack for a second to reach my next step. The best way to secure a forex demo trading account when building up to forex trading profit comes in the form of forex trading software. This allows you to learn the market and the program simultaneously to give yourself a giant leap and put you on par with the pros that much sooner.

Forex trading software is basically a program which you use in conjunction with your campaign to assist you in a number of ways. As the forex market is much more mature than the traditional stock exchange and keeps much longer hours, you've got to be able to stay on top of it for nearly every hour of every day and night, save for a few on the weekend. It's just common sense that if you want to be successful, you've got to be able to act at any moment. As this is impossible for the average person, forex trading software takes a lot of the burden off of your back.

With basic protocols like take profit and stop loss, you'll almost always be on the winning side of all of your trades. Your program senses harmful or beneficial changes in the market and trades on your behalf accordingly if you allow it to do so, thus maximizing your gains and just as importantly minimizing your losses in your forex trading profit building.

Perhaps the area in which forex trading software really excels comes in the form of signal generation. Signals are basically tips which you use to know where the market will turn before it does so that you can act on it early and trade ahead of the curve to really take advantage and build your forex trading profit. These programs rely exclusively on tested mathematical algorithms which eliminate human error and through constant updates from their publishers, are remarkably accurate in their predictions. If you want the most accurate information guiding your trades, there is no substitute for forex auto trading software.

Start building your forex trading profit immediately. Earn yourself considerable, reliable, and guaranteed income each month by visiting http://www.forexautotradingreviewed.com There you'll find in depth and frequently updated comparison reviews on the leading forex software. Don't wait, start down your path to financial independence once and for all.

Free Forex Trading System - The One Enclosed is Free But Does it Work?

By Kelly Price

Yes it does and it's made countless millions, for savvy traders all over the world and beats most of the forex robots sold. In this article, we will show you how and why it works and why this free Forex trading, could bring you currency trading success...

This system has been around since the late seventies and has stood the test of time and is still used by pro traders today. The system was devised by trading legend Richard Donchian and its incredibly simple - don't let that put you off though, all the best currency trading systems are.

Lets take a look at the rule that you need to apply and its totally objective all you do is place the trading signal.

Buy a breakout to new 4 week calendar high and then stop and reverse the position on a 4 week low. Keep reversing on 4 week highs and lows and always have a position open in the market.

That's the system and you won't get much simpler than this one - but if you think about it, it's based on very sound market logic which is the following.

Most big trends in the currency markets start and continue from new price highs or lows, it's therefore based on breakout methodology that works and will continue to work as long as markets trend.

The other point with the system is it holds trends a long time. It's a fact that most Forex trends last a long time and you can check your forex charts and see- trends last for week's, months or in some instances years and this has always been so.

Get in on Every Major Trend

What you have is a system, that while it does not go for pinpoint timing, will get you in and help you hold all the major big trends.

If you test the system, you will see just how profitable it can be and its simplicity is a huge advantage, making it very robust in the face of brutal and ever changing market volatility.

Another advantage of the system is the entry and stop are set, you simply follow the rule. You don't even need a PC to do the calculation you can do it in your head and it will take you around 15 minutes a day to execute your trading signals. So it's very time efficient.

It Beats Most Sold Robots as Well!

Most sold robots never come with real track records and there always a back test. Simulated in hindsight. That's not the real world of trading; you don't get the luxury of knowing the closing price in the real world. This system on the other hand has been used by serious traders and made a lot of money in real trading.

Smoothing the Equity Curve

You can add filters to this free forex trading system to smooth the equity curve and they are discussed in our other articles so look them up but in raw form or with a filter the system makes long term profits and if you want to make money, then you will really like it - simple to understand, apply, timeless logic, profitable and free and its not often you get that.

Warning! and the Way to Make it Work for You!

A word of warning is this system takes discipline to follow and you need to have faith it will lose for periods (all systems do) and its hard to sit on long term trends due to equity dips but if you can follow it with discipline, this free forex trading system can be a great addition to your forex trading strategy and enhance your chances of currency trading success.

FREE ESSENTIAL FOREX TRADING PDF's! For 2 essential free trading Pdf's and an essential FREE Forex Robot and an exclusive Currency trading Course visit our website.

Why Don't You Just Retire Now?

By Joshua Geralds

Do you believe that when you finish your work life at the age of 55 or 60 you will have the resources to retire and live in comfort till you happily and peacefully pass on? Then again, why wait till you are 55 or 60 to retire? Why not do it now?

Wouldn't it be great if you could just give up your day job or night job or any job and spend your time doing things you like with your time? You could go shark hunting, travel to the most exotic locations on earth, curl up in a hammock on the beaches of Thailand listening to the gentle lapping of the waves from the sea. All these take money and they take time and they need you to be free, without any strings to tie you down.

Just think about this for a moment, you work 5 days a week close to 12 hours a day including your commute. Your weekends are filled with running errands going to malls that have far too many people buying things that are far too costly to justify. I know exactly what this feeling is, it is the feeling of being trapped, and about 20 years ago this was the exact same scene I was faced with.

Welcome to the world of trading! Drop your lousy job and put on your trader's hat and jacket. Being a trader is by no means an easy thing to do, there will be times of uncertainty and there will be times that you wished you never started on the path to riches. Being a trader is simple but being a successful trader is slightly more difficult, to be a successful trader you have to equip yourself with some tools.

First you will need a trading plan, this can be easily obtained by purchase or you could take one for free online. The plan is important so you might want to reconsider if you decide to use a free resource, you cannot possibly to use something for free and earn millions from it can you?

Second you will need a money management plan; this is what really makes you your money. With a good money management policy you will be able to safeguard your account and at the same time steadily grow your account. Take your money management plan and integrate it with your trading plan. When you have that you are close to 60% safe. What's left is discipline and that brings us to our last point.

The third thing you will need is discipline, for it is discipline that separates a losing account from a wining account. Take 2 traders and let them take the same trades using the same trading plan and money management rules. The successful trader will be the one that has the discipline to follow through on the plan. That is what makes a trader successful. The best trading plan in the world is useless if you don't stick to it. The market is erratic at best and often you will lose in your trades. With proper money management you will not only survive but emerge with a stronger position. The key to it all is the mental and emotional discipline to see it through.

Don't wait any more, get up and take control of your life! Get an account and a trading account and retire now!

Dr. Joshua Geralds is a successful Investment Specialist with over twenty years experience increasing the income of people world wide. Visit http://www.pipsalot.com to learn how to make steady profits through safe trading and down load your FREE e-book "Money Management" for a limited time only!

What is Proper Leverage?

By Joshua Geralds

Leverage is a concept that many new traders hardly grasp. As a tool leverage is very powerful and can potentially help you sky rocket your profits. But if used wrongly you might end up cutting off your foot! Many traders use the terms of margin and leverage interchangeably. Understand that margin and leverage are two very different aspects and cannot be used interchangeably.

What exactly is leverage? The general definition of leverage is: "The mechanical power or advantage gained through using a lever". Bear in mind this definition is very apt and when you think of it in Forex terms we can say that leverage in Forex as defined in freedictionary.com:

"The use of credit or borrowed funds to improve one's speculative capacity and increase the rate of return from an investment, as in buying securities on margin"

We can define Margin as:

"The amount of collateral a customer deposits with a broker when borrowing from the broker to buy securities"

In Forex, what you do is that you use your deposit in your account to borrow from the broker to trade. Of course that also means that you cannot borrow unrealistic sums of money. The Broker would have calculated your risk position in relation to his thus you see things like 1:100, or 1:500. That means with your margin of $1 you can borrow up to $500 to trade in forex. Without such borrowing, a common person cannot be possibly able to take all his resource to trade on the Forex market.

There are dangers to over leverage as well and what we call a margin call. A margin call occurs when the money in your account is in sufficient to keep your position in place. That means that you have lost so much money that the broker in order to protect his interest has closed all your positions to recoup his losses.

A margin call is bad and shows poor money management skills. You should never be in that position as you have started out well taking on maximum5% of your account to trade. Greed kills an account very quickly. Over leverage and margin calls are two big no-no for traders!

So leverage is what you borrow from the broker to use in your trading. While Margin is what you use to fund your trade. Margin belongs to you, it is your money. Leverage is the broker's money; if you lose it then they will take your money to pay it back. How they do that is they close your position and take all your cash from that trade.

Leverage is a very powerful tool, imagine using $1,000 to control $100,000. If you started your trading with no leverage the maximum you could go was $1,000. With leverage you can do a hundred times of that amount.

What then is proper leverage? This really depends on the trader's risk appetite and your money management rules. I would suggest that the maximum cap be 1:200, but the best leverage to take would anything below 1:100. Over leverage kills as quickly as it can make you money, with proper controls you can supercharge your trading without controls you can expect an account wipe. Thus harness the power of proper leverage and make your trading profits soar!

Dr. Joshua Geralds is a successful Investment Specialist with over twenty years experience increasing the income of people world wide. Visit http://www.pipsalot.com to learn how to make steady profits through safe trading and down load your FREE e-book "Money Management" for a limited time only!

The 3 Things You Got to Know About Your Broker Before Your Trade

By Joshua Geralds

Before you can trade Forex, you will have to have a broker. There is a myriad selection to choose from. You have brokerage firms from all around the world, from the US from Europe, Asia even Africa! The trick to a successful trading venture is to choose the right broker from the start. In order to choose that though, you will have to know a few things and learn what to look for. It will also be necessary to compare the different characteristics of each to see which one is most suitable to you. Like any good partnership, a relationship with your broker must be based on trust and good quality. Keep in mind the tips below when you make your selection.

Without a Forex broker you will not be able to make any trades. There are many different brokers, all of who claim to be the best for you and making a decision for one over another is not easy. There are some standard criteria that should be used for comparing and choosing.

First: The pips spread. This is a sensitive chord in the hearts of all traders and brokers. We traders feel that the lower the spread the better, while brokers seem to feel that a higher spread is better. Well the truth is that the spread is not as important as you think it is. What is truly important is that the spread is fixed and does not change! A change in the pip spread when you least expect it is disastrous for your trade. Imagine that you are in the midst of a trade and you placed your stop loss at 5 pips from your entry, suddenly there is a sharp movement in your charts and before you know it your loss has been hit. You blink your eyes a couple of times, and you see the price back where it was seconds ago. Has that ever happen to you before? It has hit me so many times when I first started that it stopped being funny. After I did a quick switch to a new broker all these strange sudden stop loss hits disappeared. A fix spread gives the trader room to plan a strategy that will increase the probability of a successful trade. You can nail down all the uncertainties and focus on the important things like making more money.

Second: Speed of order fills. Another area that you have to look out for as the last thing you want to do is that when you see a set up and decide to trade, the broker sits on your order. Your set up comes and it goes, and with that goes your chance at profits! Unless you are scalping a few seconds wait is acceptable, anything more than 20 seconds is totally out! You want your orders filled and if your broker can't do that it doesn't make any sense for you to actually pay them a commission at all does it?

Third: Reliability. A lot can be said about bad brokers with lousy reputations. In fact if you do a study on the different brokers you will realize that many professional traders do not use the charts that good brokerages provide. Most prefer to use other charting software and then place their orders with the broker. Of course we will still use their charts as an entry point indicator but frankly a broker is there to focus on filling trades not provide great charts. This leads us to our last point of reliability, you want to be with a brokerage that will pay you your profits you want to be able to access your account and fund it easily. If you choose to withdraw YOUR money then there shouldn't be a hassle at all. It is your money after all! Watch out for brokerages that demand you place a minimum amount in your account at all times before they allow you to withdraw. If you fall below that minimum the only way to get your money back is to go through a lengthy process of closing down your account before you see your cash.

Most online brokers provide good service and often it is when a new trader not understanding the terms and conditions which causes all these misunderstanding. Make it easy on your pocket, read all the fine print and should the brokers pull a fast on have no fear, go to the regulatory offices and seek redress. But if you had done your research before signing up you will not be in that spot in the first place!

Dr. Joshua Geralds is a successful Investment Specialist with over twenty years experience increasing the income of people world wide. Visit http://www.pipsalot.com to learn how to make steady profits through safe trading and down load your FREE e-book "Money Management" for a limited time only!

The 3 Bad Habits That Kill Your Profits When You Trade

By Joshua Geralds

There are many things that a trader can do wrong, but some are worse than others and can even reduce or make you lose all of your profits. Some of them are common mistakes that stand out like a sore thumb, other are silent killers. Be they glaring mistakes or silent ones, they contribute to your losses ultimately. Here are the top 3 worse habits that kill a trade:

First is the emotional trader, when ever the trade starts to turn against this trader, the emotional trader lets lose all feelings. I am not talking about weeping and wringing of hands instead this trader would be angry, hurt and scared. Should the trade lose there is a high possibility that the second trade would not follow the money management rules or the trading plan. Or if the trade goes so badly, the trader refuses to cut losses and run, instead the trader would stoically look as the trade hits the stop loss. Loyalty is all well and good, but sticking to your guns when the trade dies is a little too extreme, do that often enough and it hastens the death of your account. Every pip adds up you know.

Second is that the trader becomes too focused and forgets to diversify. This is pretty much like putting all your eggs into one basket. When that happens all it takes is one bad trade to set you back. Have a series of bad trades and you are completely wiped out. While it is good to focus your resources on the highest certainties, understand that there is no guarantee in the markets. The highest probability trade can (and often it does) turn against you at the strangest times. So many times I had a trade that was almost close to my profit target just missing a single pip, suddenly without reason the trade reverses and hits my stop loss, only to revert to where it was seconds later. Now if that was my only opened trade, that would mean that I am in a loss position. Now if I diversify my position I might lose one trade but then win the other. In that manner I break even and I have the capital to carry on trading. If things go well I win both trades (highly possible) that means I have advanced faster with safety.

Third is the lack of discipline, a lack of discipline in your trading kills your account faster than you can blink. There is so much to be said about a disciplined trader, and a trader with little discipline. A disciplined trader would ensure that the trading plan is followed closely. Entry and exit points are kept to strictly and money management rules are followed. The discipline would only allow trade to take place if all the indicators point in the right way. If there is even one just one indicator that is out, then the trade does not take place. Discipline in your trading will separate a profitable trader from a trader who is in danger of having an account wipe. Discipline in money management gives an advantage to the trader by ensuring the account is grown steadily and consistently. The key to making money in Forex is not large gains, but instead it is the small consistent wins per trade that finally build up. Imagine a stream, the stream flows down the side of the mountain, and soon it is joined by other streams, then they form a huge river, which rushes out to sea. This is what discipline trading will give to you. Your consistent profits will be like little streams that finally become a huge flood of money!

Dr. Joshua Geralds is a successful Investment Specialist with over twenty years experience increasing the income of people world wide. Visit http://www.pipsalot.com to learn how to make steady profits through safe trading and down load your FREE e-book "Money Management" for a limited time only!

Is Diversifying Your Trades a Good Idea?

By Joshua Geralds

Trading is full of risks and as with anything that is connected to potential losses you will want to protect yourself from a worst case scenario. Even though it is impossible to protect yourself 100% from all losses, there is a strategy that will minimize the amount of money lost on bad trades. This technique is known as diversification. To diversify your trading means that you minimize any potential losses by mixing a variety of investments made at any one time within your portfolio. This form of risk management is effective, because even if a single trade goes bad it will not have a big impact on your overall trading success rate.

So far it does seem that diversification is a good idea to help minimize losses. The next issue to address is the case of over diversification. Let all things when a good idea is taken to extremes it becomes dangerous. Over diversification means that you lose focus in your trading. In Forex how you can diversify is straightforward. You can choose to either use different time frames, or break up your position sizes to smaller lots or choose different currency pairs. Most trader use a combination of two of the above. The reason for keeping it simple is that they do not want to lose focus.

Focus in your trading is crucial for trades who wish to grown their accounts in the shortest time possible. You have to balance the defensive stance of money management and a more aggressive outlook in your trading. Focus does not mean that you do not diversify, instead it means that you have to choose where and when to diversify.

Take for example, you decide to trade the EUR/USD and go short with it. With your money management rules you have decided that all trades you take you will use no more than 5% of your account. At the same time to prevent a loss if the trade goes against you, you split the 5% into two portions. You go short on a 5 minute time frame and you go short on a longer time frame. Thus for both positions you are holding a 2.5% of your account in each. The reason for going short on both positions is that the trend is a downward trend. So let's say the 5 min time frame hits the stop loss and you get knocked out of the trade. The longer time frame makes you some profits. In the end you have broke even and that is a good thing. You have successfully protected your account.

Now let us say that you over diversified your positions. Same EUR/USD trade and you went short on the 5 minute frame. Then you picked another currency pair say the GBP/JPY and once again you choose a third currency pair to diversify into, say the AUD/USD. You split your 5% into 3 portions and trade all 3 pairs simultaneously.

Even reading the description becomes confusing much less to say trading the actual trades. The probability of losing on all 3 is much higher because you aren't focused enough. True and behold you lost on 2 trades and you won one. In the end it is one step forward two steps back.

Diversification is a good idea and should be practiced by all traders. It will keep your account alive for a longer period of time and help you weather out bad storms. Do not fall into the trap of over diversification. Keep your positions always at eye level, do not allow yourself the luxury of set and forget, for when a trade moves against you it moves fast and before you know it you have been hit with an irreversible situation, you have lost money.

Dr. Joshua Geralds is a successful Investment Specialist with over twenty years experience increasing the income of people world wide. Visit http://www.pipsalot.com to learn how to make steady profits through safe trading and down load your FREE e-book "Money Management" for a limited time only!

How to Use Chart Patterns to Trade

By Joshua Geralds

Charts are the ultimate technical indicators. The definition of a technical analysis is the interpretation of past price action. Charts take these past price action and form them into a coherent manner whereby you can see the data in a graphical manner instead of all those figures.

As trading is a process of human interaction, (one person wants to buy the other ones to sell) history will repeat itself. If nothing else we humans are a fairly predictable lot!

Chart patterns emerge because humans are predictable creatures and that we cause history to repeat itself. Thus technical indicators become accurate and important for us traders. Charts give to us the graphical representation of the data and visually prompt us that a high probability trade will be coming up soon. Thus Chart patterns act as a predictive indicator! This in itself is different from most technical indicators as technical analysis is based on historical data, and rarely acts as a predictive tool.

Regardless of the charts you use here are some of the more common chart patterns:

1. Symmetrical triangles can be described as areas of uncertainty. The market is consolidating because the forces of supply and demand at that moment are nearly equal. Each new lower top and higher bottom becomes shallower than the last. This state doesn't last forever as the market will move and usually it explodes out of this formation (which means that there will be a lot of energy in that movement.) Research tells us that the movement will usually be in the direction of the trend. Thus when coupled with proper Fundamental analysis and trend studies, this patter becomes a good predictive tool to ascertain new market movements.

2. Head and Shoulders pattern is usually seen as a reversal pattern and most often occurs in an uptrend. What happens is that the market begins to slow down and buyers and sellers supply have equal strength. On the left shoulder the sellers try to depress the market, the buyers come in and force it up to a peak (head) then the sellers come in again and force it to a low (right shoulder) finally the buyers gather strength and the trend shifts to an upward motion. Head and Shoulders is best seen with a larger time line and is fairly accurate when used as such.

3. Lastly we have the wedge. In appearance it is rather similar to the symmetrical triangle. We can differentiate it be its noticeable slant either to the upside or to the downside.

A bullish trend is classified by a falling wedge and a rising wedge usually shows a bearish trend. But this is not always and they can reverse. As a tool I would not really recommend looking at wedges as there needs to be a lot of secondary information before it becomes helpful. Stick to the easiest source and that is the best way.

Chart patterns should not be used alone as a stand alone tool. Instead as a leading indicator they are very useful to prompt the trader that a possible breakout is occurring. Based on your trading plan, then you can look to profit from this turn of events. Most professional traders do have trading plans that trade breakouts. Over the years I have found it very useful to have different trading plans for different situations. That allows me to trade all trades. It gives to the trader more opportunities and that leads to a faster growth in your account.

Dr. Joshua Geralds is a successful Investment Specialist with over twenty years experience increasing the income of people world wide. Visit http://www.pipsalot.com to learn how to make steady profits through safe trading and down load your FREE e-book "Money Management" for a limited time only!

All New Traders Got to Know These!

By Joshua Geralds

Beginners are usually very zealous investors, but unfortunately also more often than not uninformed. This is a sad fact, because it is certainly no fun to lose all the money you have borrowed or save for the purpose of growing it.

Although there is much to learn about trading Forex, getting a good grasp on the basics is very important. In fact the key to making money is in the basics and not all the advanced stuff. For a new trader learning what works best is the single most important step to take.

In Forex there are different types of tools that help us traders define and interpret the market data. In this article let's explore the 2 most commonly used tools and their strategies.

First is Fundamental analysis, heavy weights like Warren Buffet and George Soros swear by Fundamental Analysis. Fundamental analysis is news, it is information that will sway the minds of people and cause them to behave in a certain manner. A savvy trader whop knows how to "read the wind" will know from which direction this "wind" is blowing and then trade accordingly. Fundamental Analysis helps define the trend and for all traders trading with the trend is always good as that increases your probability of a successful trade.

For example if the trend is on a downtrend, you should look at your set ups to go short. Since the trend is already falling, there will be more sellers than buyers, if you become a buyer; you basically give your money away to the sellers!

Unless you have a lot of money to spare my honest suggestion is sticking to trend trading regardless of the trading plans you use. A counter trend trade is always risky and frankly I would rather not lose any hair by taking such risk as the returns do not justify the actions.

The second newer tool is Technical Analysis, the fact that there are charts means that you are using technical indicators already! Technical analysis is defined as the study of past price actions to determine future movements. Pure technical analysts believe that history will repeat itself and look to the charts to show this as the case. In a way that is correct, as a trader you deal with people, and people tend to be fairly predictable if charted on a large scale. Individually humans are hard to guess, but when you start taking large groups of people and then track their actions over a long period of time you will see patterns emerge. That is what technical indicators do, they define these patterns and then based on what we know happened in the past, there is a high probability that it will happen in the future.

For example, you use 2 indicators on your candlestick chart, a stochastic slow and 2 EMA lines. When the stochastic hits a oversold position and the 2 EMA lines cross upwards you go long (buy) when it is in reverse you go short (sell)

Regardless of what sort of tools you decide to use, always integrate them with proper money management. For money management is the only way that will allow you to make consistent profits and grow your account steadily.

Dr. Joshua Geralds is a successful Investment Specialist with over twenty years experience increasing the income of people world wide. Visit http://www.pipsalot.com to learn how to make steady profits through safe trading and down load your FREE e-book "Money Management" for a limited time only!

3 Biggest Killer Mistakes in Forex Trading

By Joshua Geralds

There are many mistakes that a trader can make when trading. Most mistakes depending on their severity are usually account killing types. Even the slightest mistakes can be very costly to you. We are not talking about picking your nose when you should be watching the screen! Here are the 3 most common and deadliest mistakes that traders make when trading Forex.

Mistake 1: Failure to trade your plan!

This is the mother of all killers, in fact close to 60% of failures are attributed to this one mistake. This is no simple oversight on your part, this is a glaring deliberately attempt to kill your own account. The honest fact is that after hours and countless amounts of resources have gone in to building your trading plan, we give it up at the last moment or worse during the trade. This speaks of 2 very important factors here, one is that there is a lack of confidence in the plan and two is that emotion has taken over the trading process. Lack of confidence can be easily cured by fundamental analysis and research. Emotional discipline is a lot harder to address, we as humans make a lot of decision based on how we feel and not on what we think. In trading that is disastrous and kills more trades than another other factor.

Mistake 2: Over leverage!

Almost all my students who I work with when I examine their failed portfolio, the most glaring mistake is that they were sorely over leveraged. Leverage when used properly is a very powerful tool. Used unwisely it becomes a tool of mass destruction; it will massively destroy YOUR account! A lot of marketing propaganda use the words margin and leverage interchangeably. This is a mistake and these two terms are not the same thing. Leverage simply said is the broker's money. Margin is your money. When you first fund your account you use your own money to start things up. Unless you use $10,000 or more to fund your account, you will need to borrow some money from the broker to trade. Thus comes about the terms of 1:100 or 1:500. That means with $10,000 you can control $1,000,000 of trading capital! This allows you take on larger volumes than what you normally would. What kills you quick is the fact that over leverage makes you lose money 100 times faster as well. When you over leverage and a trade goes against you, your account falls below an acceptable level and that leads to a margin call. That means the broker has to close your positions and then take your money to cover your trading losses. You have effectively given up control of your money to someone else. You have just killed your account.

Mistake 3: No Money Management Rules or poorly executed money management policy.

This is another killer mistake which afflicts most traders. Money Management is closed liked to the above mentioned section on leverage. In fact if you have good money management you can make mistakes and still be profitable! The problem is that most money management rules are dead boring and frankly there is little instruction available on this topic. Look at the site mentioned below for more information.

Money Management is not an art; it is a science which gives to the trader a sound platform to conduct trading in relatively safety. For instance you start your account with $10,000 and each trade you take you use 10% of your account. How many trades can you lose before you get wiped out? The answer is 10 trades. Now instead of using 10% you use no more than 5% of your account to trade. This effectively doubles the number of times you can lose. Unless your trading plan really stinks or you have an issue with emotional discipline as long as you keep to your set up the likelihood of you losing 10 times in a roll is very slight. Proper money management is also concerned about your profit objectives and your stop loss. There is too much to write about money management to be able to fit into this article. Visit the site to find out more.

In conclusion keep in mind that these are the top 3 killers for all traders. Being humans we will make mistakes, just try not to make too many mistakes and you will be fine.

Dr. Joshua Geralds is a successful Investment Specialist with over twenty years experience increasing the income of people world wide. Visit http://www.pipsalot.com to learn how to make steady profits through safe trading and down load your FREE e-book "Money Management" for a limited time only!

The Secrets of Top 5% Forex Traders

By Joel Gardner

There are basically two category of forex traders. There are the elite traders which forms the top 5% of the cream and there are the average Joe which form the rest of the pack. So what set these two groups apart? Well there are several key differences which the elite traders and the average traders have. Thus if you wish to be successful like those in the top 5% category, you have to learn to find out what are the main strengths. In this article we will show you a few secrets of the top 5 % forex traders have in common.

1. Forex is their labor of love

One of the factors which sets apart a good trader from the average trader is their dedication to their work. When a person is passionate, they will make efforts to know more about what they are doing. Another benefit coming because of passion is that they will recall better the information that they learned. This is also why sometimes the top 5 % forex traders can act quickly to circumstances based on the information they recall. Thus if you wish to be a good trader, you must first of all feel passion for Forex.

2. They manage their emotions

The best traders in the Forex market have an unique quality of being able to divorce their emotions from their trading. They don't not follow the market sentiments nor allows the market to dictate their emotions and influence their decision making process. Warren Buffet once said, if you cannot stand and watch your investment holdings depreciate by 50% without flinching, then you should not be in the stock market. What Warren Buffet said is very correct. If emotions are allowed to influence or judgment, then our investment decision will not be objective.

3. Knowing how to manage risk.

Keep in mind that this doesn't mean they always limit their risks as much as possible. On the contrary, the most successful traders risk thousands on certain trades because they know what they stand to gain.

A lot of the times, what stops a trader from trading is not just lack of investment capital. It is also the willingness to want to take risk on a trade. This is where the leader of the pack differ from the rest of the pack. Therefore if you wish to excel in forex trading, you will need to take calculated risk.

4. They keep trying

In everything that we do, we must be persistence to pursue it. However in the forex market, you will require a little more persistence. This is because you are dealing with real money and every effort that you make is costing you money. In most other case, even if your persistency do not pay off, you will lose just some time for your efforts. Having said so, you mustn't let the time that you failed to discourage you. Rather you should take stock of the situation, learn from it and move on and keep trying.

Of course not everyone have all the traits to be where the top 5% traders are today. But we have to remember that everyone work to get to where they are. The successful ones certainly wasn't born to be a top trader. Somewhere along they learn to be better than the rest and that how they differentiate themselves from everyone.

Need elite Forex Trading Systems with sound & reliable statistical elements? I highly recommend that you review Forex Ace System to trade up to 500% more effectively!

Forex Opportunity in Using Automated Trading

By Anton Taverdine

Profitable trading is not an easy task. People tend to make trading errors due to their emotions and other human weaknesses. That's why new methods are being developed. One of them is called "Automated Trading". It is a way of trading using programs, software or robots without needing a human to execute the trades. Computer can beat a human at chess games. It can beat humans at Forex trading also.

Automated trading is not perfect yet and computers can not think as humans do. If trading software is programmed with untenable or non-logical trading strategy it will fail. However experience shows that high quality software can be used to trade currencies profitably.

Here is the latest fact about trading software: in the Automated Trading Championship 2008 that started 1st of October the top Expert Advisor by the time of writing of this article mad $54,074 in profit (championship.mql4.com) having initial $10,000 deposit in the trading account. This shows that automatic trading software does work.

The major problem with such trading software is that they are programmed for certain market conditions. They will stop working as soon as the currency behavior will change. It is obvious even in manual trading. A system that works in trending market will lose money in ranging market. That's why if you decide to try automated trading you need to constantly update your software.

How about commercially available trading software and Expert Advisors? I have tried many of them. So far I found only one that is being updated accordingly to the market conditions. That allows it to be profitable most of the time.

I was constantly failing in the beginning of my experience with that kind of software. My equity curve looked like a trajectory of falling rock. The only problem for me was that over time those programs and Expert Advisors stop making profit as they did it before. I tried different kinds of software and Expert Advisors. Finally found what I was looking for. I have posted my trading results with this one at Forex Opportunity. I gave more detailed overview as well as trading results on Metatrader platform. Also I highly recommend you to visit Forex-Opportunity.info to learn more about automated Forex trading. At least sign up for a newsletter to get a comprehensive trading advice

Forex Autopilot Review - Eliminate Fear and Greed From Your Trading

By Anton Taverdine

As the most traders I started trading currencies manually. I didn't even know that it can be done automatically at that time. There are different types of software that help can help you in trading Forex. One of them is Expert Advisor for Metatrader platform. The beauty of such software is that it completely eliminates the trading errors caused by human emotions like greed and fear.

The Major Flaw of Automated Trading

After experimenting with such software I realized that they have a major defect. They cannot adjust to ever-changing market conditions. However if you modify the source code of the Expert Advisor according to the market conditions then you can have a successful trading robot. I came across a team that developed and continues to update such trading software. It called Forex Autopilot trading package. Here is my review of this software.

What's Inside of Forex Autopilot Trading Package?

Once you are inside of the member's area you get the Forex Autopilot file in ex4 format that you can attach to your Metatrader platform and start trading right away. Besides that they have NFP pilot to trade the Non-Farm Payroll news release.

I personally hate trading news but with this Expert Advisor you can trade with much less emotional errors involved. Another thing they have is Ultra Trend indicator that shows the trend with high accuracy. This indicator alone was priceless for me.

And as I mentioned earlier those Expert Advisors are constantly updated to fit the current market conditions and eliminate the flaws in trading. For example when EURUSD was in continuous uptrend Forex Autopilot was giving amazing results. Now the pair in a downtrend and the older version is not working very profitably. Therefore they recently have updated their software to fit to the current EURUSD market condition.

My Personal Experience with Forex Autopilot In the beginning of my trading experience I was constantly failing. My equity curve looked like a trajectory of falling rock. Then I came across the automated trading. I found that it could be a perfect tool. The only thing was missing is that over time they stop making profit as they did it before. I tried different kinds of software and Expert Advisors. I have posted my trading results with this one at Forex Autopilot Review. I gave more detailed overview as well as trading results on Metatrader platform. Also I highly recommend you to visit Forex-Opportunity.info to learn more about automated Forex trading. Sign up for a newsletter to get a comprehensive trading advice

Forex Automatic - Two Different Types of Trading Software

By Anton Taverdine

Many traders use some type of software in their trading. In Forex trading there are tow kinds of such software. First type is auxiliary software. It's an indicator that interprets the price action or some more sophisticated program that generates buy-sell signals. The second type of trading software is what I call automatic trading software. This software executes the trades in real time on your broker's platform. I would like to describe those two types of software in greater detail.

Auxiliary trading software

All traders are familiar with this type of software. The simplest version of it is and indicator of a price action. Some people build programs to generate buy and sell signals based on those indicators. These tools make analyzing the price data much more easy task. Keep in mind though that the most valuable tool in trading is your mindset. If it is in place then any software will make your trading more successful.

Forex automatic trading software

This kind of program is becoming more and more popular among Forex traders lately. It seems like it should be the best way to trade since the machine doesn't have human emotions such as fear and greed. So it should not be susceptible to trading errors due to those emotions. The reality is much more complex and interesting. If a successful trader uses the automatic trading software he makes profit in a long run. When a beginner tries to use such software he loses money.

What's the reason for getting different results? The problem with automatic trading is that it uses certain trading strategy only for certain market conditions. Once the conditions change software starts losing money.

My personal experience with Forex automatic trading The same was for me. In the beginning of my trading experience I was constantly failing. My equity curve looked like a trajectory of falling rock. The only problem for me was that over time those programs and Expert Advisors stop making profit as they did it before. I tried different kinds of software and Expert Advisors. Finally found what I was looking for. I have posted my trading results with this one at Forex Automatic page. I gave more detailed overview as well as trading results on Metatrader platform. Also I highly recommend you to visit Forex-Opportunity.info to learn more about automated Forex trading. At least sign up for a newsletter to get a comprehensive trading advice

Best Automatic Trading Software Review

By Anton Taverdine

Many traders start to trade Forex manually. I used to do the same. In the beginning it was very hard. I was on a verge of quitting trading currencies.

After some time of trading experience I came across automatic Forex trading software but I was skeptical at first. After all that software works then any trader would get rich quickly by putting their trading on autopilot.

After experimenting for some time I discovered that it was not that simple. They do work but trader needs to be careful and watch for a few parameters of the robot to make sure it stays profitable.

If you think that all of these trading software that automate your trading are scams think again. It is known fact that some, though not all, managed Forex accounts are traded using automated trading software. A trading program actually executes the trades instead of a human.

Now is there such thing as a best trading program? You see the major disadvantage of that software is that it gets outdated because market conditions tend to change overtime. A trading robot that was giving nice profit last year may not work very well this year. So to have good trading software you need constantly update it.

For example Euro vs. US dollar was in uptrend for long period of time. An Expert Advisor that is programmed for such market behavior now will be losing money since that pair in a downtrend.

You can get a market that was constantly ranging into a strong trend. The opposite is true. A strong trending pair can get into a range and any system or Expert Advisor that was making a profit will start losing money. But if that EA was adjusted accordingly it can still bring nice profit.

The same was for me. In the beginning of my trading experience I was constantly failing. My equity curve looked like a trajectory of falling rock. The only thing was missing is that over time they stop making profit as they did it before. I tried different kinds of software and Expert Advisors. I have posted my trading results with this one at my Best Automatic Trading Software Review. I gave more detailed overview as well as trading results on Metatrader platform. Also I highly recommend you to visit Forex-Opportunity.info to learn more about automated Forex trading. At least sign up for a newsletter to get a comprehensive trading advice.

Automated Forex Robots - Advantages and Disadvantages

By Anton Taverdine

There are many different software being developed lately to automate trading in Forex. They are able to trade currencies without needing a person to execute trades. Automated trading is a field that began emerging not long ago.

Automated trading has number of advantages over manual trading. Such advantages for example are:

It is executed by computer. Today information technology and computer science are developed to a very high standards. Computer can perform thousand calculations while human performs only one. It work outs logical computations without error and stores memory at incredible speed.

Automatic trading takes emotions out of your trading. It will never make decisions driven by greed and fear. The software never hesitates to take a trade or close a position. All the trades are based on set rules and criteria that eliminate the human psychological errors.

Trading software can take trades day and night without weariness. It frees a trader from the necessity to be glued to his trading charts all the time. Once a successful trading system is developed and optimized into a trading robot it can be left to run independently.

On the other hand automated Forex trading robots have a major flow. They do not have the "feel" for market as a human trader does. If trading software is making profit once market conditions change it may start loosing money. That kind of change can be perceived only by a human eye. For example if behavior of the currency pair was predominantly trending and a trading robot was making profit. Once that currency pair becomes mostly ranging trading robot will lose money in such market.

Here is my personal experience with automated Forex robots. In the beginning of my trading experience with them I was constantly failing. My equity curve looked like a trajectory of falling rock. The only problem for me was that over time those programs and Expert Advisors stop making profit as they did it before. I tried different kinds of software and Expert Advisors. Finally found what I was looking for. I have posted my trading results with this one at Forex automatic robots. I gave more detailed overview as well as trading results on Metatrader platform. Also I highly recommend you to visit Forex-Opportunity.info to learn more about automated Forex trading. At least sign up for a newsletter to get a comprehensive trading advice

Why Most Day Forex Trading Trainings Do Not Work?

By Albert Schmidt

When I first started trading currencies in Forex and found that simply installing a broker's trading platform did not turn my PC into ATM I went looking for Forex education. If you are not making consistent profit trading probably you are looking for the educational information or training that can help you to become a profitable trader.

Since I took many courses and trainings I can give you a few tips on what to look for in a good Forex training. But first you need to realize that there a lot of scam is going around Forex and Forex training as well. So do your due diligence, check the training company's background etc. You even may want to find people who have taken the training course and find out what was their outcome in trading.

Now after you done your research on company what you should look in training itself? Based on my experience I found that it should address two issues for it to be really beneficial. First they need to work on your trading mindset. Or at least they should point that out. You will not believe how many courses claim to turn you into a successful trader but give you only introductory information into Forex. It can even be advanced but still introductory information.

I can confirm based on my own experience that mindset is one of the most important things in trading. If a mentor or training company do not outline a strategy that you should work to develop your discipline and ability to control your emotions then the rest of information may be useless for you.

Second thing they need to clearly outline one basic trading strategy with positive math expectation to practice your trade execution. It should be as close to mechanical system as possible. Have you had this experience when advanced trader executes a trade everything is clear and smooth? When you look at the charts on your own the signals become vague and ambiguous so you hesitate to take a trade. That's because an experienced trader has a feel of market. In my opinion the only way to develop that kind of feel is to execute trades based on simple rules over and over again.

I believe those two things plus discipline to keep executing the trades no matter what was the result of the last trade will lead you to success in Forex. You see, many people think that if you acquire a lot of knowledge about market about worldwide economy you will become a successful trader. I personally met people who had top knowledge of market and economy but failed to make consistent profit in trading. On the other hand there are some traders who do not have such wide knowledge on those subjects but they manage to pull the profit from market on a monthly basis. The common trait of those traders is discipline and emotional control during the trade.

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 trades.

What is the Difference Between Forex and the Stock Market?

By Albert Schmidt

Forex is a worldwide market of trading currencies. The main difference between Forex market and the stock market is volume. There are lots of people who enter the currency trading market on a daily basis. They trade more than two trillion dollars every day. This volume is significantly higher than the volume that is being traded on the stock market of any country on a daily basis. Currencies are traded not only by private traders but also by financial institutions, banks and even governments.

The second major difference of Forex from stock market is the liquidity. Everything that is traded on Forex market can be easily liquidated. That means you can convert any position into cash since it's already cash but of a different country. Availability of cash is always there. A position can be liquidated at any time anywhere in the world.

Forex market by it's nature is an International, Worldwide market. This market needs a few countries currencies to be involved. The stock market on the other hand can be a local market within one country. It is based on a product or business and does not need to involve other countries.

Another difference is the working hours. The stock market usually follows the business day hours at that place where it's located. Forex by virtue of being worldwide market is open twenty-four hours a day except weekend. Since selling and buying happens in different countries Forex needs to be open all the time. When market closes in one country it opens in another one. It does have its most active hours. Forex is most actively traded during London session and New York session.

A stock market of any country is based on the currency of that country. For example, United States stock market is base on US dollar; Japanese stock market is based on Japanese yen. The nature of the Forex is such that it needs to involve multiple currencies to exist.

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 trades.

What is the Best Forex Trading Course?

By Albert Schmidt

If you are someone like me when I first started trading Forex you know what it means to develop a mindset of a successful trader. Many people ask me which trading course is the best one. In my opinion there are quite a few good courses out there. Even more courses are not worth the money they ask you to pay. But in my opinion if one is still failing to make a consistent profit in trading then those courses will be very little of help. And here is why.

I strongly believe that success in trading depends not on the information one acquires but on discipline and psychological outlook one develops. So the usefulness of a trading course may be so far as it has a continuous ongoing support system. I know a few such curses that have continuous support. One of them is Rob Booker's training. You pay only one time fee and you have lifetime access to the member's area and his personal support. Another one is Peter Bain's Forex Mentor course. But for this one to keep access to the member's area and ongoing support you need to pay monthly fee.

In my experience it was not a trading course that turned me into a profitable trader. It was a book written by Mark Douglass "Trading in the Zone". If you have not yet read it then the next thing you should do is to go to the bookstore or local library and get yourself a copy of this book. Read it a few times. It was a single most beneficial book for my trading experience. In his book Mark Douglass not only outlines the psychological factors for trading success but also gives you step-by-step exercises to dramatically change your trading experience.

Once you develop the discipline and fix your psychological problems related to trading only then you will benefit from other trading courses to their full potential. Otherwise collecting more information about trading, worldwide economy etc. will not help you much. Have you ever noticed some people get access to a useful piece of information and skyrocket to success others having the same information do not accomplish much? The difference between them is in their mindset.

There are also trading strategies and software are sold on the market. What about them? As for me they are only tools that can help you in you trading. If your trading is still unsuccessful tools will not do the job for you. An axe will not cut the woods without a woodcutter. Similarly having some strategy or piece of software may help you only if you are already making consistent profit trading currencies.

So first it is better do develop discipline on you own. Nobody can help you in this except yourself. After you become disciplined and following and executing the rules of your system becomes a second nature for you then courses, strategies and software can benefit you a lot. In my opinion there is no other way to achieve success in trading Forex.

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 trades.

What FX Trading Systems Successful Traders Use

By Albert Schmidt

Usually most beginner traders after failing to make a profit in Forex start looking for a perfect system that could make them successful. They ask successful traders what FX trading system they use. In my opinion the system is not the most important thing to your success as a trader. The most important thing is your discipline and mindset.

Yet there are some things that need to be looked in a trading system to figure out if it is profitable or not. The most important thing is what the traders call "the edge" or mathematical expectation of a trading system. The system can have a positive edge or negative edge. If it is positive you will build up you account over long period of time if you keep executing your trades. If it is negative you will drain you account no matter how big profit you are making in a single trade.

How do you find out if your system has a positive expectation or negative? The only way to figure it out is to test it. Go all the way back in time on your charts and test it on the historical data. After that forward test trade it on a demo account. Execute at least 100 trades.

Let's say in your trading system you are taking profit at 30 pips and cut your loses at 15 pips. After testing you find out that 40 trades out of 100 hit the take profit level and the rest 60 stopped out in loss. Mathematical expectation for this system is 30*40/100-15*60/100=3 pips. In other words average profit of each trade is 3 pips. While it seems not a lot but with this edge you can consistently grow your account.

What if you find that your system loses 65 times out of 100 and wins 35 times. Then the expectation is 30*30/100-15*70=-1.5. The expectation is negative. Even if you are losing only pip and half per trade you will be consistently decreasing amount of money in your account.

This is one of the reasons why I strongly recommend practicing execution of your trading system. It will do two things for you. It will develop discipline to act upon your trading system signals. The second very important thing it will give you data to calculate the mathematical expectation of your system. If after long period of testing you find that expectation keeps being negative then switch the system.

It always surprises me when I see people trade a system and have no clue what is the mathematical expectation of their system. Even more surprisingly I see some people trade systems with negative expectations. You need to know the edge of your system and if it is positive you need to be disciplined to follow through your trading plan of executing 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 trades.