Online Forex Trading Tips: 10/28/08

Tuesday, October 28, 2008

Forex Beater Review - Forex Software Reviews

By William Barnes

You might be wondering whether all the fantastic claims made by the creator of the Forex Beater are true. Automated Forex trading software like FX Beater may sound amazing, but I have had experiences with robots that have lost more than 30% of my money. This article will discuss my experiences with this currency trading robot and explain how it works in general.

1. How Does The Forex Beater Software Work?

Before you find out about how this software works, you should know that there are 2 general types of Forex software, and Forex Beater is just one of them.

One type of software is able to find entry and exit points automatically. On top of that capability, it is also able to place trades automatically for their users based on its internally programmed system and the size of the trader's account size. Also known as a trading robot, this is the type of software that Forex Beater belongs to. This type of program is able to help the user profit from the currency pair price movements automatically without any interference by the trader.

Another type of software is only able to find profitable entry and exit points, but is unable to trade automatically. This type of software is only appropriate for people who have time during the day to trade according to the signals generated by the Forex program.

2. Is The Forex Beater Robot Really Worth Buying?

Having tested both types of robots for myself, I would say that the automatic trading robots are much more useful and value for money, since both types of programs are usually priced in the same price range. Forex Beater has helped me achieved a winning rate of more than 90%, making it one of the best performing trading software I have experimented with.

Is Forex Beater software a scam? Visit http://www.top-review.org/forexbeater.htm to read a FREE report about this Forex automated software!

Forex Avenger Review - Is Forex Avenger Scam?

By William Barnes

Does the Forex Avenger system really work? Making money from the currency market is only possible when you have a profitable trading system, and this is exactly what Dave Curran of Forex Avenger wants to help traders achieve. So can this system really help you make money, and how risky is it?

1. How Profitable Is The Forex Avenger System?

This currency trading system has been proven to be very accurate and profitable by looking at its past results. It is achieving a high accuracy rate of 82.69% in all its trades. The entire system is explained in 10 step by step videos and a written guide.

2. Why Purchase a Guide Like Forex Avenger?

Unless you are already an experienced trader with years of experience, you are definitely going to need a guide to help you get started making money in Forex. Despite the huge risks of the currency market, it is very profitable when traded correctly. This guide will help you understand the currency market much better and help you trade with the trend. It will teach you how to carry out a form of analysis called technical analysis.

3. What Is Technical Analysis?

It is the studying of currency price charts and trends, and being able to draw a reliable conclusion from this information. Some of the terms you will learn are support and resistance levels, and you will also learn everything about price trading ranges, price reversals and continuation patterns.

4. Forex Avenger's Risk Levels

It is clear that the number one goal of this system is to preserve capital. The creator fully understands the principles of capital protection, and you will not find your trading balance swinging wildly as you trade with this system.

Is Forex Avenger a scam? Visit http://www.top-review.org/forexavenger.htm to read a FREE report about this Forex System!

Forex Avenger Review - Forex Trading System Course

By William Barnes

Would you like to find out more about the Forex Avenger trading system course? Currency trading has drawn a lot of attention in recent years. The market is the largest trading place in the world with more than USD $1.2 trillion exchanging hands every day.

Even though currency trading can be very profitable, many beginners have found themselves burned by this highly leveraged form of trading. The most important thing is to find a profitable trading system that you understand and trust.

1. Who Created the Forex Avenger System?

This system is a result of 8 years of Forex trading experience of UK trader Dave Curran. After a long period of testing and tweaking, he has finally established a consistent system that has been proven to work in all market conditions. Dave has used his own system to make a regular income trading Forex, and today he has an account balance of more than $50,000.

2. How Does The Forex Avenger System Work?

This system is very simple to understand, yet it is very reliable and extremely profitable. It is quite different from other trading systems in the sense that it only trades one currency pair, the EUR/USD.

By trading with the trend, I have found that Forex Avenger can profit from any sort of market condition, even in a sideways market due to its conservative nature. With the system rules, there is no guesswork involved, and all users of the system will get the same trades.

3. What Are Some Aspects of Forex Trading That You Will Learn in the Forex Avenger Guide?

You will learn everything about short and long trading, how you should analyze the price chart to find your trade and how to manage your trades once you have entered a position.

Is Forex Avenger a scam? Visit http://www.top-review.org/forexavenger.htm to read a FREE report about this Forex System!

I Need to Learn Forex Trading to Get My Wife Off My Back, Help Please!

By William Alheim Jr

I received an email this week from one of my newsletter subscribers that stated; "I need to learn Forex trading to get my wife off my back, please help!" I could not make this up even if I tried. Only he did not use back, but a word that's starts with an a, and has two s's in it. He then goes on explains that his wife says; "her two bothers are dumber than rocks and making a fortune trading the currency markets, why aren't I?" And then to boot, she adds; "you better start making more money or else!" Or else what, is what I am thinking? After I get off the ground laughing for five minutes I start to write him a reply. At first I start telling him to find a new wife, but I quickly realize he is writing this because he really needs help and I get serious.

If your wife want more money also, or girlfriend, or girlfriends to be or any women you care about for that matter, since every women I know always wants, needs and requires more money, then trading the currency markets is defiantly one quick way to increase your income substantially. After all, how hard can it be? A currency can only go in one of two directions, up or down. You have a fifty percent chance of being right if you did not know anything.

Since he really had no clue about how to learn Forex trading I gave him the same advice I give all newcomers. This is to take a fully rounded Forex trading course which I classify as a comprehensive currency educational program. They only cost around $100 and will provide you a solid foundation to advance your FX education with. The next step in the learning curve to becoming a successful Forex trading machine is to enroll in a currency trading mentoring program. These run around $600 or so, some you can pay by the month at about $150 a month. The best part of these courses, besides the fact after you leave the program you are ready to trade the Forex markets and become a capital gains monster, is you get to trade with a professional Forex trader utilizing your own funds with them advising you. I receive so many emails thanking me for this approach, due to the fact they students often have more money after the course than they started with, including paying for the training because of the profits they made trading with the professional currency trader.

The poor guy wrote back after I sent the same information I stated above on the best way to learn Forex trading and stated; "I will give it a try, I will do anything to get my wife off my back." I will keep you updated on his progress as he promised to email when he finishes each program. I wish him luck, after all if his wives are dumber than rocks and are making big money and she does not sound like Einstein herself, how hard is really to make money trading the Forex markets?

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

Forex Trading System Are Smoking Hot - Which One Makes the Most Money in the Shortest Time?

By William Alheim Jr

You are so correct; the improvements in the Forex trading systems available for public use has been amazing. Since the deregulation in 1997 when the Foreign Exchange Markets allowed the private investor access to the markets there has been an explosion of different currency trading systems coming to the market. After a person takes time to learn Forex trading, the next step is to acquire the tools needed to be a successful trader in the FX markets and pull down the big bucks. There are so many products today that attempting to decide which one to buy can be a daunting task. Not to worry, the Forex trading system doctor is here to help.

To start with your really should not be concerned with which Forex trading system makes the most money in the shortest time. But, you should purchase the system that can both optimize and maximize your profits consistently over the long term. You really need to think of these as tools that will help you in the decision making process by capturing data that is humanly impossible. Next, based on there initial programming they process that information in a format that you will find useful deciding on which, when and why to trade a currency. If you are considering an automated system that will trade exclusively for you and make a profit, I am sorry to inform you that they don't work.

Most of the systems today are both automated and you have the ability to turn that part of the program off, which is what professional Forex traders like I do. Every high earning professional currency trader I communicate with has two Forex trading software systems on there computer running constantly while they are trading. They are a trend based system and a signal based system. Some of the pros also employ one or more formula based system. These programs for the most part are really cheap, since they are sold worldwide by the millions, usually costing in the $100 to $200 range. When you consider you almost always make more than they cost on one currency trade, there cost is really irrelevant.

The advances the Forex trading systems are making daily is simply astonishing. After you learn Forex trading check out a signal and trend currency trading system and start playing with them using a demo account you can get with a Forex brokerage firm that allows you to trade using fake money. When you start making money with them for a month or so, it is time to go for it and become a Forex money making monster.

Forex Courses Can Help You Learn Currency Trading - How to Avoid Risk and Make Money Simultaneously

By William Alheim Jr

With the deregulation of the Foreign Exchange Markets (Forex or FX) in 1997 the personal trading ground of international banks and brokerage firms was disrupted with the entry of the private investor. Initially the small player had a positive impact on the financial performance of the dominate players due to the fact they lacked both the knowledge and tools needed to profitably trade the currency markets. Consequently the dominate firms recognized unprecedented gains for the first few years after allowing the private financiers into the market. Professional Forex traders employed by the large institutions witnessed this phenomenon, thus a cottage industry was created when they commenced offering Forex courses helping the apprentice trader to learn currency trading from the ground up.

After the private patrons become educated Forex traders the tables started to turn on the mega organizations, but they were still able to take advantage of the fact millions of people worldwide were flooding the markets. Only a small percentage of the new traders were able to make it financially and quickly dropped out of the market. The ones that stayed were the savvy knowledgeable investors whom finally started putting a dent in the profits of the initial participates. The banks and brokerage firms realized that the reason for there decline in profits was their former employees had set up their own firms teaching Forex trading. They responded to this by making all employees sign non-discloser agreements.

At this stage the banks also began investing heavily in software based Forex trading systems to reestablish there advantage. But, just as quickly the professional currency traders teaching the Forex educational classes realized this and they hired their own computer programmers and began distributing commercially available Forex trading systems. Now the playing fields were equalized again with one exception, which was the ever increasing number of exceptional private FX traders taking an ever increasing portion of there profits.

This is pretty much where the Forex markets presently stand. The banks and brokerage firms are attempting to take steps to overcome the impact the Forex courses are having on there bottom line by increasing drastically on education. Unfortunately for them, the overpowering number of private investors entering the market with the sole intent of trading profitably is increasing daily and there total brain mass is simple to much for even these super sized players to over come. The statistic have shown a significant increase in the success rate of the newcomers whom have invested in themselves and taken the time to learn Forex trading before beginning to invest. The next move the banks make to combat this problem bears watching and preparing for. For now the best advice supplied to people entering the currency markets for the first time is to become as educated on Forex before starting to invest.

Currency Trading Training Can Help You Understand the Forex - How to Trade and Make Money

By William Alheim Jr

So you listen to family members, co-workers and friends that have started investing in the Forex markets and thought you would give it a try yourself. You now are looking around for some free advice that is going to help you. Well hear it is. If you're not prepared to invest in yourself and become and educated Forex trader by taking a currency trading training program, just forget it, you will lose everything you put into the markets. Next piece of advice, you also have to invest in the tools you need to decimate the data in order to make educated trading decisions. This is also going to cost money because you need at the vary minimum two currency software trading systems, a trend based system and a signals based system are required.

I don't believe you; I am smarter than you think, what advice you can give me? Since you require proof, open a demo account at a Forex brokerage firm which does not cost any money nor do they require you to deposit any funds. There you can start trading just like you would if it was a real money account and find how exactly how you would do if you had invested your own hard earned funds. But, I have also heard there are automated Forex trading systems I can just turn own and go play golf and when I come back I will be rich. You really are joking with me now, you think you can buy a piece of software for a hundred dollars and it is going to make you millions?

There are many private investors making millions in the currency markets today. The vast majority of them paid there dues and approached this like any new challenge. Which is they learned everything about the Forex markets before investing by taking an Forex educational courses or multiple classes. They possess all the tools they need to succeed and are constantly looking for anything that can give them that little extra advantage.

If you are seriously considering trading the Forex markets you will only be cheating yourself if you don't take a currency trading training program before investing your capital. It is up to you of course, but at the very least before investing, start trading with a demo account and determine if you have any chance of making money with out a little help. Investing in your own education and future is always a noble venture that usually benefits you and your family in the long run.

Forex Signals - Effectively Using Forex Signals to Maximize Your Forex Trading Profits

By Ron Henson

FOREX trading has some shortcomings; one is the fact that you have to spend a great deal of time scrutinizing the market. Indeed, you may have to spend many hours at your PC, keeping your eyes peeled for entrance and exit situations that will be helpful in your overall investment strategy.

It is possible to utilize automated orders. Limits and stops prevent eye strain by letting you have some time away from your monitor, secure that any potential for loss is minimal. However, you can also lose out on prospective gains, if such orders, in your absence, take effect sooner than you'd like.

To minimize the risk of automated orders, and yet still get away from your desk, a FOREX signal service may be helpful. Someone else does the market watching and analyzing for you, and the results are sent to you directly, by email, cell phone, pager, etc. Such services aren't free; usually a monthly or annual subscription is required. However, some brokerages have integrated such services into Forex trading software which sends signals to you by screen "pop-up" messages, or by the other direct methods already mentioned.

FOREX signals are usually only to be had in a restricted quantity of currency pairings. Most frequently, one of the following will be offered: EUR/USD, USD/JPY, GBP/USD, or USD/CHF. However, other such duos may be offered by certain specialty services.

A high level of technical market analysis is generally required for FOREX signal creation. Most services utilize a mix of indicators to recognize primary trends and entrance/exit signifiers. Subscribers are then given the option of exercising or foregoing a trade based on the results; some companies may even give you the ability to place trade orders that can be exercised by an analyst without consultation with you, to give you even more freedom from having to monitor the markets - or even the signals - yourself.

A variety of signals are possible as the results of the analysis of currency charts. A Simple Moving Average (SMA) signals to buy if the price for the specified currency moves higher than the line indicating the average price, or to sell if the price goes below the line.

A Moving Average Convergence Divergence (MACD) study also has a signal line where "buy" is indicated if the price goes above, or "sell" if the price goes below, the line.

Market interest may be found using indicators of volume. Especially near the market low, high volume tends to signal that a new trend is beginning. Conversely, low volume may signal that investors are unsure of the wisdom of purchase at this time. The possibility of market change may be signaled by a variety of different indicators.

The utility of such signals can be reinforced with a mixture of additional indicators from a variety of sources. Such a combination provides insight into market behavior that can be fairly dependable. Of course, nothing is 100% certain - if such signals were absolutely reliable, we'd all be rich. No respectable service will ever guarantee absolute success. However, a particular service's result history can be a good indicator of whether or not you can rely on their currency trading advice being useful to you in the future.

Subscription services that provide such data typically cost between $50 and $200 per month. You may find that the cost outweighs the benefits, or you might find that your profits make the information worth the price. Such data can never take the place of true knowledge, however; signals are simply a form of guidance. If you lack the basic tools to use the information provided, such a service will probably be useless to you until you can obtain some additional training.

Get the latest Forex Signals tips, tools, and techniques at Forex Counselor. Start to trade profitably with our no cost Forex trading report. Get your complimentary copy here http://www.ForexCounselor.com today.

Automated Forex Trading System - A Solution For Any Forex Trader

By Richard U. Olson

Last time I looked, there were literally dozens of options out there when it came to automated Forex trading software, all of them promising to make you wealthy. Now me, I'm a skeptic so I'd rather ignore the claims made by the manufacturers and instead look at how the software performs for me as a Forex trader.

Something which I noticed which sets Forex Autopilot system apart from all of the other programs out there is that it was created by a Forex trader who has actually made his fortune in Forex trading, Marcus Leary. Leary has been wildly successful as a Forex trader and has put his knowledge behind this new automated Forex trading software.

If you think you can simply start up this software and it will take it from there, you are mistaken. You need to first configure the program, which will involve taking a little time to learn how the software works and indeed; how the Forex market itself operates. However, a background in the Forex trading industry is not a necessity to make Forex robot software work for you. You just need some basic computer skills to get started.

This Forex expert advisor makes trades based on mathematical modeling such as the Fibonacci formula to make predictions based on the past behavior of the market. The more you know about the Forex market, the better you can use the software to your advantage; but you really don't have to be an expert in Forex to get started using this fully automated Forex trading system.

An important part of success in any kind of trading is the ability to take calculated risks and knowing what the consequences could be. Forex auto-trading system can help you to minimize your losses - many claim that they are profitable in 96% of their trades using this software.

In the long term, your profits must far outweigh your losses. Forex robot software can help traders to make trades which are profitable overall, letting them make a profit over time; as you learn more about the market, the better able you will be to configure this Forex trading machine to make the trades which will bring you a healthy profit, ensuring your success in the world of Forex trading online.

To help you prepare and to familiarize you with both the software and the Forex market, this Forex expert advisor has a demo mode which allows you to try out trading without putting up any of your own money. Until you feel ready to jump in to the market with real money in real time, it is recommended to practice using the demo mode.

Last of all, this Forex trading machine has a 8-week money back guarantee - so you have plenty to gain by trying out this software, but nothing to lose if you're not satisfied.

Check out the Forex Autopilot system at the link below, it is the leader among automated Forex trading software solutions on the market - and it's easy to see why. Created by a bona fide Forex expert and offering money back guarantee together with software which helps experts and newcomers alike to maximize their profits, this is a great choice for any Forex trader.

Richard U. Olson uses the incredibly accurate Forex Autopilot System and he recommends it to make consistent profits in the Forex markets. Grab his FREE e-course on Forex Trading Tips to realize your financial dreams.

Automated Forex Trading Software - A Time-Saver and Risk Minimizer

By Richard U. Olson

Have you realized that Forex trading is now possible without a hint of effort on your part or by reducing the human labor component by such an extent that you hardly need to put in any labor into your trading? If you were not aware of this then here we are describing all that Forex trading has become with the automated Forex trading software that allows you this great technological advantage.

Using pre-designed algorithms this Forex robot software transforms trading into an effortless, automated service. It is entirely possible to exert no effort whatsoever into international investing and trading yet still make informed, current and safe profits.

The Forex auto-trading device eliminates the guesswork out of trading and it is also designed to work for all level of traders with different account size.

However the fully automated Forex trading system is certainly a time-saver and it minimizes risk, two excellent reasons for making the investment. Your only role in this system is to make the initial programming, and then all that is required is a heightened sense of excitement as profits begin to accumulate!

Sometimes crucial deals are overlooked during manual trading. This is the type of unfortunate situation that Forex robot software prevents due to its continuous trading.

The Forex auto-trader even makes final trade decisions, negating concerns and usually minimizing losses for the user. It certainly makes the Forex market easier to manage.

Several types of currencies are traded in the Forex market and the fully automated Forex trading software is geared to handle all of that. The Forex market data and reports come in real time and are available at request any time. The software is truly professional.

The Forex trade is ultimately within the trader's hands however, since he or she programs the software according to specifications then allows the system to conduct transactions. Although there will always be a risk factor in foreign investing, Forex robot software minimizes risk and assists with overall maximization of profits.

Richard U. Olson recommends the state of the art Forex Robot Software that he uses to make consistent profits in the Forex markets. Grab his FREE e-course on Forex Trading Tips to achieve your financial freedom.

Forex Tracer - The Way to Profit From Recession

By Nadav Snir

The subprime crisis has affected many financial institutions, and soon it will impact customers as well. While banks can handle the crisis with government support, ordinary citizens cannot do much about the problem. This causes people to hold money close to them, a situation which leads to a recession. Avoiding a recession requires you to have a constant stream of income, and there are not many of them during a recession. However, trading the forex market through Forex Tracer can easily create such revenue stream.

Currency trading, which is also known as forex trading, is the exchange of one currency for another. Trading on this market can generate profit by buying a currency pair at a certain rate and selling it late on a higher rate. This way you earn the difference between the buying point and selling point.

Recession can seriously affect the stock market, but the currency market is not heavily touched by it. Currency pairs keep going up and down every day, regardless of recession or prosperity. This means you always have a chance to win something in the forex market, regardless of economic fluctuations.

Profiting is always possible in the currency market. Most people think that the only way to profit is buying low and selling higher. This is only one way to make a profit. The other way is, of course, selling high first and buying low later. This technique can generate as much profit as the usual way, and sometimes even more.

Opening times are a huge advantage of the currency market in a recession. There are not any. This market is open six days a week, twenty four hours a day. You can trade any time with any person on the planet. No recession can change this.

The biggest benefit of the forex market is automation. Forex Tracer is a program that can trade the forex market on its own, without your presence. See the Forex Tracer review on Great-Info-Products.com and watch how big profits were generate while no one was near the computer.

About the author:

Nadav Snir is a stock market trader and forex trader. You can find more information about forex trading and Forex Tracer at his site at http://Great-Info-Products.com/Forex/forex-tracer.html

The Best Forex Software Trading - Carve Your Niche to Financial Independence

By Max Branner

To be truly successful in the forex market, you need the best forex software trading at your disposal. These are programs which have been developed in recent years to give the traders who use them a substantial and significant edge over others in the market. They enable a trader to trade more accurately and efficiently day in and day out for a few reasons.

The best forex software trading is much more accurate than trading without it. This is because of the tip generators that they provide the trader which are basically an upgrade to the antiquated way of doing things. In the past, traders would look to forex experts for predictions as to where the market would go next so that they could trade accordingly in hopes of getting in on a great trend early. These experts relied largely on guesswork more than anything else and consequently there was a great deal of human error associated with it.

Today, the best forex software trading involves utilizing cold complex mathematical algorithms to predict exactly where the market will go next. The best of these programs are incredibly accurate and completely eliminate any possibility of human error. This is because, above all else, these algorithms are tested for months and sometimes years in advance before they are made available to traders. Once they prove themselves to be accurate and yield winning campaigns time and time again, they are released. Many traders swear by the information they get from these programs. If you want the most accurate information affecting your trading, there honestly is no substitute for the best forex software trading.

Beyond being precisely accurate, these programs make your life a great deal easier as they keep a constant and vigilante watch over the market, anticipating changes great and small. They trade independently of you, as independently of you as you decide actually, and in your best interest at all times. For example, say a trade which you are invested in begins to go south. The program recognizes this at the earliest indication and trades away for you, thus maximizing your profits but just as importantly minimizing your losses. The best forex software trading programs are constantly updated for free from their publishers so that your program is as fresh and up to date as the market itself.

Start generating some reliable and guaranteed income and begin your path to financial independence by visiting http://www.forexautotradingreviewed.com for in depth reviews of the leading programs available today.

Forex Market and Online Forex Forums

By Krzysztof Sroka

The foreign exchange market is quite young. It started in the early 1970s after the United States dropped the gold standard and national currencies started to fluctuate widely. Before that, most nations had agreed to keep their currency values stable in relation to the U.S. dollar, making a Forex market unnecessary. Later banks realized that a profit could be made in "buying" currency when it was devalued and "selling" it after it strengthened, just like any other commodity.

The Forex market is dominated by international banks, government banks, investment banks, corporations, and hedge funds. Individual traders account for only about 2 percent of the market. In the Forex market, transactions are always done in pairs: when one currency is sold another one is bought.

The Forex market is the biggest market. It is much bigger than all other markets together.

Most of the Forex trading is done online, with traders using Forex charts, considering trends, and making decisions and there is not much interaction with other people, so many traders often spend time in Forex forums, chatting with other traders, learning, helping each other and sharing tips.

There are quite a few Forex-related forums and message boards on the Internet. Some are tied to brokerage firms, while others are just freestanding forums. Because Forex market is active twenty-four hours a day, you can usually find some on the forums at any time.

Discipline and a state of mind are very important in currency trading. People can win or lose lots of money quickly. Emotions like greed and impatience are very destructive in Forex trading. Trading can be also very addictive and can have stressful influence on traders' everyday life, so interaction on the forums can bring some help and support to stress out traders. Traders can cool down there and ask some questions to more experienced traders.

Traders can find some tips and learn strategies offered by their fellow traders.

There are some traders with more experience than the average trader on the forums, so the new traders have the opportunity to learn from them. Experienced traders like visiting the forums because it gives them a chance to share their experience with others.

Whether you are a new or an experienced trader it is important to visit often Forex forums, especially to cool down after losing some trades.

To get two free books about Forex: "Forex Trading Strategies" and "The Basics of Forex Trading go to: http://currencytradingmethod.com/gifts.html

For a free Forex e-course go to: http://currencytradingmethod.com/trademachine/

Forex Trading - The 5 Main Reasons Most Traders Can't Accept Big Profits

By Kelly Price

We have just had huge moves in the currency markets and some massive trends yet despite these trends being clear on the charts most traders have failed to turn these moves into profits - here are the reasons why...

A Short while ago in another article when the euro was trading up near 1.60, I postulated it may go to 1.40 and maybe even as low as 1.20 which is its true value in purchasing terms. Now the euro almost touched 1.20 and that's over 35 big points but how many traders followed it all the way down?

Not many and the reasons are simple.

1. Traders Don't like Trading Long term

Despite the fact that the big profits are made from trend following most traders try to day trade and lose as all volatility is random - they should look at the big picture and forget trying to trade in and out the noise of the market.

2. Stops are to Close

By trying to restrict risk, traders actually create it and guarantee they will be stopped out.

If you are trading forex you need to have your stop outside of random volatility - if you don't know what it is, make learning about standard deviation, one of your essential bits of Forex education.

Traders very often get the direction of the trend right and then get bumped out the trade by having their stop to close, get stopped out and then watch the trade sail over the horizon and their not in.

3. It's Cheap so must rally

Traders think that because a currency has fallen strongly, it will turn and yes it will - but remember, it maybe cheap but it can get cheaper!

Until it shows signs of a bottom stay with the trend.

4. Cannot Hold Open Equity Dips

As a trade develops and the profit gets bigger and bigger, the trader gets excited. As soon as open equity swings back against the main trend, the trader starts to panic and wants to snatch the trade, before the profit gets away.

Its here you need discipline!

Open equity dips are part of trading. If you don't accept a short term dip to make a huge long term gain, you will never make a lot of money.

You need confidence in what you're doing and the discipline to hold.

5. I Don't Deserve it

In forex trading many traders get bemused when they get big profit in a short space of time and in the back of their mind, their so happy to have some profit, they think its enough and should bank it. There really saying:

I have a profit, I am lucky so let's take it while its still there.

They just think there in the right place at the right time and don't think they deserve it, so they can't hold it and bank it early.

So there you have 5 reasons why traders cannot hold profits and most losing traders make one or more of the above mistakes.

If you want to win remember:

The Big Trends Are there - Catch Them!

The big trends last many weeks or months and although you have swings against the main trend.

The main trend reflects the economic health of the country the currency represents and these economic trends last a long time.

By being aware of them and using technical tools to time your entry and having the courage to hold, through short term dips in equity, you can make huge amounts of cash.

NEW! 2 X FREE ESSENTIAL TRADER PDFS

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What Are Chart Patterns?

By Joshua Geralds

A chart pattern is formed within a chart when it is plotted graphically with past price action. In Forex, chart pattern analysis have began to become more popular a tool for traders to spot favorable set-ups. The reason for this is, as the data is graphed out a series of patterns repeat themselves over time. The savvy trader can spot these visual hints and make higher probability trades with these chart patterns as aids.

Before we dive into a discussion on the different chart patterns, let me tell you that there are two different schools of thoughts on chart patterns. Some believe that recognizing chart patterns traders can increase the odds of a successful trade. There are others who say, "past performance is not indicative of future results".

For me, chart patterns are another tool I use to trade. Like all good tools used in Forex, I believe we should use them and then justify and double confirm. It is foolish to give up and turn away from an avenue that might possibly increase your trading success by leaps and bounds. It is equally foolish to use just one indicator as well. Without further adieu here are some common chart patterns that will help you increase your profitability

1. The Elliot wave

The theory of Elliot wave was developed by an accountant in the 1930s. He states that as large percentage market prices unfold in a series of waves. There are 3 up waves and 2 down waves. This is for an up trend. For a downtrend the reverse happens. There are 3 down waves and 2 up waves. The Elliot wave theory is rather helpful if you take a longer term view of the market and is good to help spot trend movements and shifts. If you trade with Fundamental Analysis as your primary indicator, the Elliot wave is a good indicator test to help you ascertain the strength of the trend.

2. Head and shoulders

The chart pattern gets its name for the fact that it resembles a head with two shoulders. Head and shoulders are another set of commonly used chart patterns to assist traders in their trading. There are four elements in head and shoulder, the left shoulder, the head, the right shoulder and the neckline. The neckline acts as a sort of dynamic support level. Depending on the set up of your trading plan, and the general trend, you can take a position to short or go long. The Head and Shoulders pattern in my experience is quite accurate and very useful for a variety of setups.

3. Asymmetrical Triangle

This chart pattern is what I call the break out pattern. It gives the trader an advanced warning signal that a break out might be occurring. Used in conjunction with other technical indicators like MACD and the averages it is accurate for short term trading.

Chart patterns are another tool for traders to utilize and improve their profits with. Chart patterns are visual thus it is not precise. Use it as an estimation and confirm your entry and exit points with other technical indicators. There are many different chart patterns and as many ways to interpret and trade them. Best of luck in your trading.

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 Deadly Sins of Forex Investing

By Joshua Geralds

To err is human, to forgive divine. That statement should sound familiar to most people. We will make mistakes; there is no doubt about that. The most experienced trader will make mistakes. Some mistakes are unfortunately a lot more costly than others. These "sins" as I call them should be avoided at all costs. You will not want to risk your account because you made a deadly mistake.

The first "sin" is the lack of proper money management rules. There is no greater mistake a trader can do to his or her account. There is no cure for the trader that does have proper money management rules in place. This mistake costs close to 95% of new traders to have their accounts wiped out within 6 months of trading. Further more this mistake is so costly and painful, because implementing money management rules is one of the simplest thing a trader can do at the onset of any trade! Money management is a science, there is no need for the trader to use guess work, or intuition, or base their trade on a "gut feel". Proper money management rules provide for all that. If you decide to trade for a living, having correct money management will be the deciding factor between making a lot of money or starving!

The second "sin" is the lack of an organized and well crafted trading plan. You will be surprised how often traders base their trading decisions on the emotion rather than the rational. To prevent that from happening it is important that you are equipped with a rock solid trading plan. There will be times that you will lose in your trading. That is acceptable because you have planned that in with your money management rules. You are still at a profitable point. Your trading plan gives to you an edge. We can define an edge as a higher probability of success. The percentage of success can go up to 75% at times, but usually it is in the range of 60% to 70%. That means out of every 100 trades you should be looking at 60 or 70 trades that don't lose you any money. Note I said don't lose you any money, I did not say make you pips. There is a large difference, for making a trade a no loss trade and having a wining trade are completely separate. There will be times when you will only be able to break even. Still it is better than losing money, so when that happens to me, I am thankful and move on to my next trade expecting that it will be a wining trade.

The third "sin" is lack of discipline. There is little cure for the trader who is lacking in discipline. No trader can expect to be profitable without discipline. The reason being that, if we as traders do not trade our plan and practice money management with the greatest diligence we will ultimately fail.

There is no easy way around it; there can be no compromise when it comes to trading discipline. What then constitutes as trading discipline? Discipline in trading means that you will trade your plan and stick to your money management rules in all circumstances. When times are bad and you have a losing streak the desire to seek out a new trading plan is very great. I know as I have often been in that position. When things are going well and you are wining trades in series, the temptation to increase your position size and do away with money management is also very great. That's your greed speaking to you, and if you obey that tiny voice, you will surely lose your account.

The rules of trading are simple, have a good trading plan, make sure your money management is water tight and stick by you rules like glue (discipline).

Secrets of Your Broker Revealed!

By Joshua Geralds

The essential in trading Forex is getting you a good broker. After all without a broker you can't even trade in the first place! But it is easier said than done. There are so many brokers in the market to choose from and frankly speaking not all things in life (or Forex) are made equal. You got to choose the best broker for YOU, to ensure that you get the best service for your money.

Without a Forex broker you will not be able to make any trades and that's the truth. 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. Before you take the plunge and make a decision take a moment to look through this check list and then decide who the best is for you.

1. The spread

For a new trader, the spread is often the most important consideration for choosing a broker. In fact close to 8 out of 10 new traders base their selection criteria sole on this point. While the pip spread is important, bear in mind that there are many other factors to consider in choosing a broker. Rule of thumb is that as long as the pips for the majors don't go beyond 5 pips during normal trading than you can consider the broker.

2. Normal trading vs. news trading times

A lot of brokers will tell you that their pip spread is guaranteed during normal trading conditions and will vary during news outbreaks. The problem is that a lot of brokers don't tell you when the normal trading times are and when are the news breaks. This leads to a lot of confusion and a lot of unhappiness especially for traders who do a "set and forget" kind of trading and then get kicked out of a trade because of a news break. There are of course brokers that actually tell you when a news break is coming up by proving a calendar of the important news releases and that helps a lot. (I had to search hard till I finally found some good ones that provided this service)

3. Ease of use and fills

The platform that the broker provides is important as well. You will want to have as much control as possible in your trading. But you will also want things to be as simple and as straight forward as possible. Don't be mistaken, it is the simplest systems in Forex that are the most effective. Next you want to ensue that your orders are filled immediately. If you have to wait for more than 10 seconds to get your orders filled, I think you had best search for another broker. The Forex market is huge; there is no possible excuse for the broker to not fill your orders. You wouldn't want to be stuck in a situation whereby you want to exit the market but the broker is unable to find takers for your orders. In this case the broker must then fulfill your orders out of pocket. Usually what happens is a technical error. Yeah some shady dealers from the past used to do that pretty often to buy themselves some time.

All brokers are good, if not they will not last long in this business. You just have to find the right broker for you. That takes a little time and some experimenting. Keep an open mind when you use the platform and make more money.

Important Details of Forex Trading

By Joshua Geralds

All traders should understand the principles of money management, leverage and margin. Unfortunately most new entrants to the market are usually much focused on making money that they forget to defend their account. What happens then is that greed and emotion comes into play and very soon the account is wiped clean.

1. Money Management

Money management is the keystone or corner stone to a trader's trading plan. We can define money management as "a plan to defend and protect a trader's account by use of position size, diversification and proper leverage". A money management plan is simple to establish but most new traders find it very difficult to put into practice. A good way to put money management into play is for you to write the money management rules into your trading plan. An important area in money management is position size. A savvy trade never trades more than 5% of his/her total account. The danger of trading more than 5% is that if you have a series of failed trades (very common) in no time your account will be lost.

2. Leverage/Margin

The concept of leverage and margin has been totally confused by many "smart" marketers of brokers. Margin and leverage are completely different terms and cannot be used interchangeably. Simply said, margin is what we place into the brokers account as a sort of guarantee. Leverage on the other hand is the amount we borrow from the broker to trade. Thus margin is usually represented in percentages (2% of account) and leverage is usually in a ratio format (1:100). The danger for a trader is when the account is under funded and over leveraged. Usually these two come hand in hand. Most traders seem to like to take the risk of fast money. That means leveraging their account as high as 1:200 or even more. All the while maintain a small account as possible. What happen are frequent margin calls and that ultimately leads to more draw-downs.

Discipline

Without discipline all the above are irrelevant. There is nothing as important to a trader as discipline. Discipline over emotion, discipline in following the trading plan and most of all discipline in the trade. To build discipline is arguably one of the hardest things a trader can do. Here is a quick tip, start a trading journal. Each time you enter into a trade, write down all you feelings and emotions. Write down everything you did before, during and after the trade. Don't miss anything out, do a reflection at the end of the week. You can learn a lot about yourself from this simple exercise. More importantly you build discipline slowly but surely.

Trading is a game best played slow, take your trades slowly, defend your account at all costs and never allow yourself to be caught in a situation that requires you to top up your account. When that happens it is high time for you to stop trading and start asking yourself what is going worng.

How to Diversify Properly in Forex

By Joshua Geralds

We can define Diversification as:

"The means to distribute among several sources, to prevent total losses in adverse conditions"

This means that you as a trader have to take your total account and carefully divide it up into portions for investment. For a forex trader, what that means is that you got to split your position size.

You take your bite sized amounts and trade, that way you mitigate the risk against you. I don't think that you would want to be in the position when you have only one trade, and you lost that trade. What that means for your pocket is that you have now just lost money. If you allow this losing streak to carry on then your aim of making money and a living as a trader will never happen.

Diversification will help you from busting your account. The primary goal of diversification is to take advantage of non correlated sectors to protect a trader's account. Although diversification is not the only way to protect your account, it is a tried tested and proven method. Most professional traders diversify their portfolios shouldn't you do the same as well?

The issue with trading Forex is that we have a lot of uncertainty in the market. The sheer amount of volitality in the market is at once an advantage and on the other hand a huge disadvantage. We as traders will never know when the market will turn against us and when we might make money. Our trading plan is designed to help us increase the probability of success. But as long as there is any chance of failure a prudent trader would guard against that most strictly.

To properly diversify your portfolio here are some tips:

1. Use totally uncorrelated currency pairs. For example you trade the EUR/USD you can choose to portion to another pair that have no relations with either EURO or USD like GBP/JPY. This will save you if one trade goes against you, you have another trade to count on. Of course there is the possibility that both trades would turn against you. Still you have managed to cut your risk level by a potential 50%.

2. Break up your lots. If you are trading a standard lot each time, it is a good idea to break it up to smaller sizes to mini lots. You can choose to trade the same pair with a variety of different lot sizes. For example, you use two mini lots to trade the EUR/USD for a long term plan (1 week) and another 2 mini lots for a day trade.

A word of caution here, while it is good to diversify please do it in moderation. As a trader you must have focus in your trading. Over diversification will only overly complicate matters. That is not good for your account. I would suggest that you mix and match how you wish to diversify your portfolio. Once you have decided on the course of action the next step you have to take is to incorporate that into your trading plan. Have your trading plan all written up nicely and placed where you can see it.

Diversification is one of the important components of money management and is a crucial step in taking you from zero to hero.

3 Ways to Get Consistent Trading Profits

By Joshua Geralds

Forex trading is deemed to be difficult by many traders because of the equity curve. An equity curve is your profits against your losses. It shows your profitability against your total losses (drawdown).

All traders want a smooth equity curve; this shows that profits have been steadily increasing and that there is regular income. This is crucial if you wish to succeed as a trader, trading for a living.

The challenge that most new traders face is how to get into the rhythm of achieving a smooth equity curve. Here are 3 ways to help you manage that!

1. Set a stop loss. This is an important step you have to take. There are traders out there who claim that they never set a physical stop loss. I tell you now that a stop loss still exists for them. Although it is not a physical but a mental one. When you place your trade, assuming you follow a set of money management rules, the percentage would be from 1% to 5% of your total account. For the traders that claim not to have stop loss they will stick to this percentage and should the market turn drastically against them, there will be an automated close (margin call) from the broker. This is a stop loss measure, so a stop loss will always exist regardless of what the trader does. If you wish to achieve consistent profits you will have to plan in all uncertainties in the trade. Thus you will have to factor in the losses as well as your gains. Once you factor in your losses should you really lose it is of no consequence. This is because the loss was planned for and prepared for.

2. Set a profit objective/target. Once you have done the right thing by planning in your stop loss you will now factor in how much you intend to make per trade. For ease of calculation use pips instead of the dollar value to represent your profits. A good rule to follow is to have a ratio of about 1: 1.5 or 1:2. That means for every dollar you risk, you have the potential to make twice that amount. This is a lot of common sense. You want to risk only a small sum to achieve greater returns. That also makes trading so profitable and exciting! It also ensures that you have a smother equity curve. Just image that if you risk 1 pip and your returns are also 1 pip, you basically won't get any where and most likely you will end up dying a slow death as the market eats up your wins and erodes your account.

3. Discipline. There is a lot to say about discipline. The main focus of this article is not on the subject of discipline. Instead it is to help you achieve consistent profits. Discipline to trade your plan and the discipline to ensure you have the guts to stay the trade is equally important. You can build discipline in various ways, but one of the best ways is to take up a physical sport and stick with it. You will get fit and healthy and at the same time you will be able to use the discipline acquired in the course of your physical activity towards your trading.

The 3 above mentioned tips will assist you in having a more consistent profit. That in turn will lead you to a faster growing account. Very soon you will be staring at a huge account because of compounding. So these 3 ways to achieve consistent profits should be at the top of your mind when you trade.

What is Forex Auto Trading and How Does it Work?

By John A Philips

The term Forex auto trading refers to the system where automatic executions of signals are sent to a client's account through a central auto-trading platform. Once a client finds an auto trading platform they wish to receive signals from, their account automatically executes the trades they have chosen.

Many of these forex auto trading system's goals are to offer you key information on currency trading and to present you with the best possible trading positions.

Another purpose for these forex auto trading systems is to educate, inform, and to provide you with an overall picture of what is happening in the foreign exchange market on a real time basis. These pieces of information will further assist you in making sound intelligent decisions with regards to forex trading.

There are several forex auto trading software products out there for you to use. Whether you're a beginner or a seasoned trader in the Foreign Exchange Market, it's always best to know what you're dealing with up front and when you're still ahead of the money making game.

Forex Automoney is a great forex auto trading program to use no matter what level you are in the Forex Market. It will give beginners the assurance of an easy to use and completely automated system from which to learn from and trade with confidence and security. You want to make sure your trading is as effortless as possible and this program will ensure that for you.

Forex auto trading takes some skill and research to ensure you to become a successful Foreign Exchange trader. The diligent person that builds up their knowledge and trading skills is the one that will experience the most profit, and the rewards are great.

Get my FREE Guide to Forex Trading E-book.

Discover more articles, resources, and product reviews at my personal blog. --> FreeDailyForecastForex.Com.

Protect Yourself in Wild Forex Markets

By Jimmy Mack

If you are new to Forex trading, or an old pro of this exciting form of trading, the current currency market has provided incredible volatility lately. I have been trading the Fx market for many years and this type of action is just plain wild.

If you are trading the Forex Market manually right now, I would go out on a ledge and say your blood pressure is surely elevated. I can not imagine someone trading this market without an automated system. While the futures market went limit down today, the Forex Markets took up the action while the futures markets were closed. The already hyper pair of the EUR/JPY dove into an unprecedented 1200 pip range on ferocious volume. In fact, most of the pairs in the Fx market seen incredible ranges on this day of October, 24 2008.

While I watched in horror of the sinking and rising of the biggest world currencies, I thought I should write an article about how you can avoid such volatility in your trading. Although, the action was severe and money was moving fast, my team and I were calm and confident as our expert advisor battled the wild swings nicely.

When you develop your system as we developed ours, we put our highest priority on money management. This will give you the confidence in markets like this and I will show you how. Trying to trade in the forex market without an automated system is a big mistake in my opinion because the speed and volatility will crush your timing that will lead to unwanted emotional trading. When you have developed or have purchased a quality expert advisor, you do not need to rely on timing the market or getting overly emotional on a string of losing trades. A good forex system includes all ingredients to keep you safe in markets like this with tight stops, reasonable profit levels and trailing stops in trending trades. Excellent Forex Expert Advisor

Do yourself a favor and double check your settings and inputs in your expert advisor in these wild market conditions. Make sure your MT4 platform is running properly on your PC or running on your virtual private server. Finally, let your forex expert advisor make all the trades and resist the temptation to close positions before there conclusion. It is a good idea to find a forex introducing broker that offers forex trading rebates. These Fx rebates come in handy if your system takes some draw down and best of all, the Fx rebates are free.

What you need to profit in the forex market - solid expert advisor - big forex trading rebates - quality vps to run the expert advisor http://www.fxtraderebate.com

Leverage in Forex Trading Explained

By James Woolley

Leverage is a major component of forex trading and is one of the main reasons why so many people are drawn to forex trading in the first place. Leverage basically allows you to trade positions far in excess of your initial trading capital which means you can potentially make vast profits from forex trading.

However it should be pointed out that leverage works both ways. Whilst you can earn a lot of money very quickly by making winning trades, you can also lose money very quickly by using leverage. This is not uncommon either. There are lots of forex traders who have blown their account completely just through one single losing position, and all because they over-leveraged themselves.

Let me explain in more detail how leverage actually works when trading forex and why it is potentially so dangerous.

If you visit the website of any forex broker you will usually be presented with appealing offers such as 'trade forex with 1:200 leverage' or 'open an account with us and enjoy 1:400 leverage'. These offers are designed to appeal to forex newbies who are drawn to brokers who offer high leverage rates because it means they can trade large positions whilst only risking a small amount of capital. In these examples 200 and 400 times their trading capital respectively. In other words $1000 can be used to trade a position worth $200,000 or $400,000.

Of course ultimately it's the forex brokers themselves that benefit from such leverage because they know that the majority of forex traders will end up losing money, and by enabling their traders to overcommit themselves it means they make more profits in the long run. Plus even if they do not overcommit themselves they know that even a small move can result in large losses for highly leveraged traders.

So as a forex trader, you should be wary of signing up to brokers who offer high levels of leverage. It usually ends up benefiting them more than it benefits you. Your major concern should be finding a top quality reputable company that is reliable even during busy periods of the day, offers tight spreads, and is fully licensed and regulated by the relevant authorities. Leverage should not really be an issue at all.

Your aim is to make money so to do this you should use strict money management rules. This means employing a tight stop loss and only risking a very small percentage, ie 2 or 3%, of your trading capital on any one trade. This will mean that any losses you may incur are kept small in relation to your total bankroll which means you can stay in the game and live to fight another day.

The thing to remember is that you can still make substantial profits from forex trading without over-leveraging yourself. High leveraged positions should be reserved for gamblers and we all know that gamblers using end up losing money in the long run.

Click here to read a review of Forex Candlesticks Made Easy and to discover lots of free tips and strategies relating to forex currency trading including the exact 4 hour trading strategy that James Woolley uses to trade the markets.

Best Forex Software For At-Home Traders

By David Gregson

Before outlining the best forex trading software let me answer a question. Is it in fact possible to make a computer work for you in the FX markets and really be good at identifying and opening positive trades?

Well, yes and there are many that have proved they can. However, be warned that you cannot place your trust in a lot of the stuff out there on the market today. Believe me when I tell you I learned.

So, how do you determine the best forex software?

There are two kinds of programs that you are able to use and you need to choose one that not only is reliable but also suits your trading style.

The first group consists of of signal generators that tell you when to open and close trades. They can work very effectively to give you trustworthy signals, however you need to be around the computer all the time to truly take advantage. It's possible to get constant profits but you must set aside time everyday to monitor it.

The other kind will not just generate signals for you but can be set to automatically open and close trades for you all day long. You are able to profit from winning trades 24 hours a day everyday without having to do much except set up the parameters beforehand.

In my opinion the second type of automated forex trading software is the better choice. These programs have all the advantages of the first lot but also make the trades for you. Getting a robot to open and close trades with no feelings is a major plus for you as a private trader.

It's impossible to ignore the handicap being a human places on you in the world of forex trading. Having a computer jump in and out of the market for you drops the chance you will make mistakes. So, you can really rely on technical analysis by using a reliable program. You no longer have to lose out from missing the news or being away from your notebook.

I didn't think it was possible but I have found the best forex trading software that gives consistent returns on investment over the long term.

It's a great time for the individual to be in the forex markets so give yourself an edge and use the best automated forex trading software

Are Automatic Forex Trading Systems All Hype?

By Brian Philips

If you have delved into the Forex trading system yourself, then you surely must have heard about all the hype that comes with automatic Forex trading systems. In theory, these platforms are indeed great to have, with all the benefits and features that all of them can boast of. However, what you do not really know about these systems is that they can wipe out your equity in no time, if you let them.

Yes, automatic Forex trading systems can indeed do this, so you have to be wary about them altogether.

For the most part, traders actually end up choosing the wrong automatic Forex trading platform to use. The common mistake made here is that traders immediately go with platforms that have track records that are "profitable" without reading the fine print. Take the time to read through that fine print, and you just might see that this platform's profitable track records are all just simulated. This means the platform has never been tried and tested in the real trading system and that these profitable track records just consist of paper money.

Another common mistake here is that Forex traders make the wrong assumption that having an automatic Forex trading system do business for them would be enough to garner significant profit already. Such is not the case at all. This is not the case of plug and play. Forex trading is extremely volatile in nature; one minute, you're safe. The next, you're going down the drain. Thus, if you want to maximize your profits here, you cannot just leave your automatic Forex trading systems to do everything for you. You have to do down to the basics; understand the logic behind the software you have chosen. This way, your confidence in the system that you have chosen is established over time.

Lastly, as a trader, you really have to be as realistic as you should be. Automatic Forex trading systems do garner a lot of profit, but the very reliable platforms are just a few in number. Thus, you have to be very realistic when you are making your choice of software here. Do not just go with a certain platform because one of your Forex trading friends recommends this. You have to mesh these recommendations with statistical facts and figures. You have to do research on your part. You have to look for automatic Forex trading platforms that offer real-time performance. More importantly, you have to expect losses on your part. Losses are inevitable in Forex trading. The key here is to strike a balance that works in your favor - more profits incurred than losses suffered.

If you truly want to increase your profits fast, you should really consider investing in Automatic Forex Trading Systems as it will allow you to make more trades with better accuracy.

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

What Should the Best Forex Software Trading Have?

By Alex Cadens

Would you like to make money with almost no startup capital? With the best forex software trading you will be able to make a decent living from your trades. Forex trading is a very profitable business, and the ones well prepared to face the market are the ones making money, regardless of their experience in forex trading.

What should you consider when choosing the best forex software trading, thus ensuring a solid start within the market?

One key factor to consider is that the software should have the experience of real experts behind its development. This will ensure that the software is reliable and consistent, which is essential to make a profit.

Most trading software alternatives allow you to use the software within a paper money account thus enabling you to test the software and familiarize with it until you feel comfortable.

The best forex software trading should be well calibrated to manage trades within one or more currency pairs, which is essential for consistency.

Within this field you will find exchange trading signals, that is systems and services that provide forex signals, and these softwares or services may involve a one time payment or a fee.

Other options offer 24 hour trading capability. The best forex software both for newbies and experts will definitely deliver the possibility of a fully automated operation and also, that software will be easy to use and set up.

So why use a software?

Having one will enable you to make money during day or night, because the market runs 24 hours per day, so no matter if your are working or sleeping you will be making money.

If you want a forex trading software that has been proven to be reliable and consistent enough to ensure a profitable operation, make sure you read these reviews as they provide detailed information on these systems.

Best Forex Software Reviewed Here.

Why Forex "Buy Sell" Signal Will Not Benefit You in Your Trading

By Albert Schmidt

Many people once they find out how hard it is to make consistent profit in Forex start looking for a remedy to their trading. I was one of them. I tried a few Forex buy-sell signal providers to trade currencies. From my experience I know that a signal provider is just another tool in your trading toolbox given that a provider is not scam.

I was wondering if those companies trade their own signals. I don't know. The past results can be very easily taken form the historical data. Actually any trading system can be tweaked to give you significant profit on the historical data. It doesn't prove anything.

It is amazing to see how one trader can take those buy and sell signals and make consistent profit while another trader using the same signals will fail to achieve any good result. Here is what happens with the second trader. After a few losses in a row he gets discouraged and decides to skip the next trade. To his surprise the next trade would be the most profitable one. Or it can be the opposite way. After a significant number of wins in a row he thinks he has a Holy Grail and loads up the next trade. It is that trade that blows all his previous profit. All he needed to do is just follow the signals with patience and discipline as the first one did. That's the power of discipline.

It is funny to read reviews about some signal provider. One trader says it is a good one. He was able to make a lot of money trading with these signals. Another one says it's horrible he lost all his money because of the signals. Can you see the difference already? The latter trader joined the signal providing company to be able to blame someone else in his failure.

People who trade currencies and look for signal providers that perform close to holly grail are the ones who are looking to give up the responsibility for their account to someone else. I've been there. I was the one constantly looking for someone to blame in my losses. A signal providing company was a great target to blame for my failures.

If one already achieved a level of discipline and consistency in his trading then he can use those signals to benefit in trading currencies. I strongly believe that the most important ingredients in trading are your mindset and discipline. If those ingredients are in place then any tool will help you to propel to success in trading. If not then there is a leakage in the toolbox. One will continue to blame his tools for inability to make him a profit.

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.

Which Forex Trading System is Profitable?

By Albert Schmidt

I spent countless hours trying different trading systems when I was a beginner in Forex. I used to jump form one trading system to another as soon as it gave me a couple of losing trades. Are you familiar with this situation? I was always asking the question which trading system is profitable? Which one can I use to become successful?

I believe the right Forex trading system and one that will make you profitable is the one that suits your trading style and psychology. In my opinion many people nowadays are too impatient. Everyone wants to get as much as possible in the shortest amount of time. That's why so many people fail in trading Forex. Patience is the key for successful trading currencies.

When I made my first trade I thought that once I executed a trade price should go straight to the profit level. All those fluctuations of price made me agonize watching how market went against my position. That kind of emotions made me susceptible to errors. I either got out too soon or moved my stop loss order hoping that market will come back.

Now I know that as long as a trading system has a positive mathematical expectation anyone can make profit with it. I mean anyone who has discipline and patience to follow through the system exactly without deviation.

I always here traders discuss which trading style is better. Is long-term swing trading better or very short-term scalping technique is better? I believe that it all depends on personal traits. If someone has a great control over his emotions then to trade short term may be the best choice for him. Someone who has more patience and can wait a few days for a trade to mature will be more profitable with long-term trading such as swing trading.

Personally I don't like short term trading style, especially scalping. In scalping you target something around 10 pips and make many trades during the day. The problem is that for each trade execution there is a spread - difference between buy and sell prices that goes to a broker. So by making several trades a day you are losing quite a large number of pips.

On the other hand longer-term trades have much larger profit targets in some cases well over a hundred pips. A longer-term trader pays the spreads only once to have that profit. So personally for me it's much easier to take a trade that can last a few days and bring me a large profit entering market only once.

At the end you are the one who decides if a Forex trading system suits you the best. You need to study yourself and not only the market. Once you find your preferences then becoming a profitable trader will not be a big deal for you.

The Best Way to Learn Swing Trading

By Albert Schmidt

I believe a swing-trading technique is the best trading strategy for a trader who wants to make consistent profit in his trading. It has many advantages over short-term day trading strategies or scalping systems. Just to name a few benefits of the swing trading:

1. You pay less in spreads.

If a strategy requires executing a large number of trades in short period of time then it is really hard to stay profitable. Let's say company has a spread of 3 pips. To execute 10 trades you already loose 30 pips. Profit target in scalping is usually around 10 pips. That's why I prefer to keep number of trades al low as possible while the profit target as high as possible. Swing trading techniques that last a few days will allow you to do that.

2. You will have less emotional pressure.

When you are required to monitor your trade constantly it puts a lot of emotional pressure, especially on a beginner trader. Are you familiar with a torture when price goes against your trade and ecstasy when price goes in favor of your trade? This kind of emotional roller coaster will quickly wear your energy out.

3. Part time trading.

Most people start in forex not as full time traders but they first want to test and find out if this is a right opportunity for them. In my opinion swing trading is the best strategy to start. Since it requires much less time to monitor your trades. Don't get me wrong any trading strategy requires time and dedication. To become a successful trader you need time to study the market. But once you set up the trade based on a swing technique all you need to do is to monitor your trade just for a few minutes a day.

4. Level of noise.

If you look at higher time frame charts like daily or weekly charts you will see that price patters are more identifiable that those on the lower time frame like 15 minutes, 5 minutes or even 1 minute charts. That's because random fluctuations are more prominent on the lower time frames. And it is that noise that makes a trader to make more trading errors.

So what's the best way to learn swing trading? What I recommend is to take any swing trading system that requires you to analyze the market at the end of the day and keep following it until you reach around 100 trades or until you feel absolutely comfortable spotting the signals of the system and acting upon them immediately. It does requires patience since a trade can go for a few days and some days there will be no trades. It is tempting to jump into a trade when there is no signal but you have to wait for it. So be patient to follow through your system to the letter. If you develop patience and discipline with swing trading techniques I promise you will see that the results well worth the effort.

Forex Trading System - Create Your Own in 4 Simple Steps

By Albert Schmidt

We are always on a look out for a best Forex trading system. What most new traders do not realize is that anyone can create his own trading system. Based on my experience I can say that a trading system I created for myself gave the best results. It is not a difficult task to create a system. All you need is a little experience with the charts. The next four steps can help you to create your own trading system.

1. Choose a currency pair and time frame that fits your trading style

First what you need to do is to pick a currency and time frame charts. Time frame needs to suit your trading style. If you trade part-time and look at your charts once a day then pick a daily charts. If you are a day trader and can continuously monitor your trades then pick 5-minute or 15-minute charts. It is very important since a system you are going to develop may not work for other currencies and other time frames. It is rare to find a universal trading system that would make good results for any currency pair and any time frame.

2. Pick parameters to generate buy-sell signals.

Now you need to pick some parameters that will generate buy and sell signals for you in your trading system. You may want to use certain indicators, pivot points, candlestick patterns or it can be some fundamental data. This is where your experience of observing the price action comes into play. Write down the rules of the signal. For example it can be something like "buy when price brakes above the upper Bollinger band; sell when price brakes bellow the lower Bollinger band". You need the rules for setting your stop-loss and take-profit levels as well

3. Back test the trading system

Now it's time to back test your system. You need to go as far back in time on the historical data of your chart. Now move forward one candle at a time and look at your parameters - indicators, candlestick patterns etc. Once your see buy or sell signal place a horizontal line at the price level you would enter the market. Then place horizontal lines at your stop-loss and take-profit levels. Continue to go one candle at a time. Once price hits one of the levels write down the result into a spreadsheet. If it was a gain you will write it with a positive sign if it was a loss you will write it with a negative sign. Do it at least 100 times. At the end calculate mathematical expectation of your system. If it is positive move to the next step if it is negative go back to the step number 2 and refine your parameters of buy and sell signals.

4. Paper trade your system.

Once you have the system with a positive mathematical expectation you need to forward test it to see how it performs in real time. Again take at least 100 trades in real time. Be patient. Market will always be there for you to trade on a live account. Once you have the positive mathematical expectation with the forward test results you are ready to trade your system on your live account.

Once you have some experience with constructing trading systems I promise you will be able to develop a system that will be the most profitable for you.

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