Saturday, April 3, 2010

Successful Forex Robots

Most Forex robots lose money and that's a fact. You get big claims from all of them but if you want to separate the winners from the losers, simply use the two points enclosed and they will save you from losing with a robot and help you find a profitable one.

In a moment we will give a successful Forex robot which we consider the best but first, let's look at how to spot winners from losers.

1. An Independently Verified Track Record

You would expect robot vendors to show you they had made money in real time trading and have the track record checked by a reputable independent body but most don't, all you get is:

A Simulated track record going backwards on paper knowing all the closing prices! That's so easy a kid could do it.

or:

The vendor will claim real gains in the market the so called "live results" but these come from the vendor themselves! In any investment, you should be given an independent audit but most vendors simply expect you to take their word for it.

2.The Background to the Vendor

Normally, robots are made by programmers NOT traders and even the ones who claim that they have been developed by traders have not; for example many of the so called traders were revealed as actors and some have to be anonymous according to the vendors for various reasons but the real reason is - they don't exist. Very few Forex robots, have been developed by traders and that's a fact.

Best Forex Robot - One From a Trading Legend which Has Made Hundreds of Millions of Real Dollars!

The Turtle trading robot is one based upon the rules developed by trading legend Richard Dennis for the so called "Turtle Experiment" where he took a group of people with no trading experience, gave them a set of rules to follow and the rest is history - they made several hundred million dollars in real time trading. This is one of the most famous trading experiments of all time and is well documented, in the international and financial press

The Turtle robot is based on a set of rules that made and still makes huge gains and you have the comfort of knowing, the person who developed the rules was a real trader.

Forex Trading Method

Most Forex traders, think the best way to make money is to predict and catch short term moves and they end up making a lot of effort but their taking low odds trades and lose. The best way to make money in Forex is to catch and hold the long term trends which last for many weeks, months or years. The Forex trading method enclosed, will help you make more money with less effort - lets take a look at it.

Currencies trend long term, because they reflect the underlying economic cycle and these last a long time - so you want to get in on these big trends and predict when they might start? That's a fatal error prediction, is no more than hoping or guessing and will see you lose - no one can predict the future so don't bother trying trade the reality of price change instead.

Getting into the BIG Trends

All big bullish trends start and continue, from breakouts to new market highs and as the trend unfolds and progresses, the currency continues to smash through overhead resistance and you can see this on any currency trading chart. All you need to do is buy high odds breakouts and your in the trend and can follow it for big profits.

The Problem with Long Term Trend Following

Now that sounds simple enough but within any big trend, you will have pull backs that eat into your open equity. When this occurs most traders lack discipline and grab a profit before it gets away, so they exit the market and then, watch as the trend makes several thousand dollars and their not in!

Making Bigger Profits from the Trend

To get around this problem, you should swing trade within the trend. Hold a core position in the trend and then have an active position. As the currency moves to overbought levels, you take profit and then, wait for a dip to get back in the market.

If you do this correctly, you will be banking profits all the time and this will cushion your account for when the trend actually turns and you give back profit on the turn. You are holding the big trends but being active within it makes it easier to hold onto.

Final Words

A Forex strategy to do this can be very simple - all you need to do is spot high odds chart formations and use a few indicators to judge over bought and oversold levels and your all set to make some great Forex profits.

Currency Trading Techniques

If you are looking for the best Forex trading techniques, then there are 4 tips enclosed which the millionaire traders use and if you use them too, you can make bigger Forex profits - let's take a look at them.

I thought about writing these tips when I was reading the trading strategies of 4 of the true trading greats - George Soros, Jimmy Rogers, Larry Hite and Bill Lipschutz who have between them made trillions of dollars of in FX profits.

1. Trade with the Fundamentals

"The financial markets generally are unpredictable. So that one has to have different scenarios... The idea that you can actually predict what's going to happen contradicts my way of looking at the market." George Soros

All the great traders know the long term fundamentals and trade with them - sure they use charts to see value and time entry but the they never trade without knowing the long term supply and demand situation. If you blend both techniques together you will trade with more confidence and always be able to trade with the long term trend.

2. Focus on the Long Term

Today, most traders believe the ridiculous message of Forex robots which says you can trade for huge gains, with little or no draw down well, our four super traders above can't do that and neither can you. All these traders focus on the long term and have the patience to trade with discipline and ride out draw down periods which can last for weeks or months.

3. Use Positive Carry

All currencies have different interest rates and you should always focus on buying currencies with high interest rates and selling ones with low ones, when the differential is significant - Bill Lipschutz is seen as the best currency trader of all and he stresses this in his interviews sure its a simple idea but most traders don't maximize positive carry.

4. Play Great Defence First

There are a lot of ways to make money but a sure fire way to lose it and that's to let losses get out of control. All the traders above have rigid money management systems and focus on playing great defence first - you need to stay in the game to be able to bet when the big trends come around - again an obvious thing to do you may say but how many traders think money management simply consists of placing a stop? Most of them but its much more than that which I will focus on in a separate article but for now, I will leave you with some quotes.

"There are two basic rules about winning in trading and life. One, if you don't bet you can't win. Two, if you lose all of your chips you can't bet." Larry Hite

"My basic advise is don't lose money" Jimmy Rogers

Final Words

Today, traders tend to think currency trading is a walk in the park and they try and predict the future with robots but Forex success is a based upon knowing and trading the odds. You are going to lose but if you keep your losses under control, understand true value and catch the big trends and hold them you can make huge gains.

The advice above may sound obvious but the great traders focus on it and practice it and if its good enough for them, it's certainly good enough for you.

Best Currency Trading Software

If you want to find the best currency trading software, you should look at two key areas in the marketing copy and if you pay attention to the two points we will look at in this article, you will be able discount the losers and find the best currency software for big gains.

When you look at the marketing copy for most currency trading robots, you are promised thousands of percent in profit with draw down which is below 1% and you even get claims of 95% accuracy as soon as you see these statements, go to the track record and you will see there is no verification of the gains - Our first point in choosing the best currency trading software relates to the track record.

Look for Independent Verification of Results

Most currency trading robots, have simulated track records which are simply back tests over past data. The vendor knows all the closing prices and makes a profit but this is no indication of future results, because its so easy to do this a child could make a fortune.

As investors have become wary of simulations, many vendors have switched to publishing "live results" after the trade has taken place of course and it comes from them - would you believe the word of someone selling the system? I wouldn't I would want an audit or independent monitoring company to check the results first - so only trust an independent verification.

Look at Who Developed the Software

Most currency trading software is not developed by traders, just a programmer employed by a marketing company. Sometimes you get the claim that their famous traders but one person checked out a few and found they were all web actors. The reason, you can never find any background on the famous trader is simple - he doest exist.

Only buy software which you know has been developed by a real trader who has made money.

The Forex software industry promises you easy gains but the reality is different most lose; there are a few good ones which can give you solid long term gains, so check the above two points and you will find them.

Make Money Fast

If you want to make money fast in Forex trading you can and this article, will give you some simple tips on how to get on the road to big Forex profits.

Many traders try to restrict risk so much they actually create it and guarantee they will lose - they place stops too close and get stopped out by the market noise, risk so little of their equity that they can never make a big gain and equate trading frequency with profits - they day trade and scalp and make a lot of effort for nothing.

The savvy trader knows that to make money fast in Forex, they must take risks at the right time and this involves waiting for the right opportunities.

Patience

You need to be patient! The number of trades you make or the effort you put in doesn't guarantee success. In fact you should be patient and wait for the high odds trades and hit them hard.

You Have to Bet Big

When you see a high odds trade, you need to risk enough to make the reward worthwhile and this applies especially to small accounts. Many guru's tell you, you should risk no more than 2%, well risking 2% on a $1,000 account is 20 bucks! You wont make much on that and will have to have your stop so close, your almost guaranteed to get stopped out. Instead, look to risk between 5 - 10% on high odds trades, to make the reward worthwhile.

Don't Diversify

Diversification is supposed to reduce risk but really it's another word for diluting profit potential - if you have a small account, pick a high odds trade and focus on it and don't dilute your potential profit by diversifying into lower odds trades for the sake of it.

Don't Have Stops to Close

Most traders place stops and trail them within the market noise and this means, they continually get stopped out. You need to give the market room to breathe and while it looks like your taking more risk - your not, your simply keeping your stop outside the market noise and that is the only way to make big gains. If you don't know anything about standard deviation of price, make it part of your essential Forex education and learn how to place stops correctly.

Make Money Fast in Forex Trading

The above tips are ones most traders won't follow but that's no problem, most forex traders lose but if you do use them and understand you have to take calculated risks to make big gains you can incorporate the above tips in your currency trading strategy and make money fast.

Avoid Failure In The Forex Trading

In today's times of advanced technology in internet the Forex trading can be an exceptionally productive way to make a livelihood. The forex trading is ideal and attractive to small forex trading investor because of the combination of the margin leverage and a minimum amount is enough to start trading. But still most forex traders lose their money within a year in the forex in-spite of its opportunities to make profits.

The recent studies state these reasons, why most of the inexperience traders lose their money: 1. Unlikely Forex Trading Profit Expectations

Most new traders just know how simple it is to make money in the forex and they just jump into it and lose all their money without knowing what hit them.

The Forex trading is not a proposal to get rich quickly. Research and hard work are needed to get success and even these may not guarantee success in every trade. Most experienced traders also lose money. The key factor is to know when to cut and minimize your losses and concentrate on winning trading systems.

2. Failure to Acquire Sufficient Knowledge in Forex Trading

The Forex trading is simple to learn, yet hard to master it. The traders who are experienced make it look simple, but forecasting the prices of currency is a complex effort. As a tiny investor you have a drawback; you don't have the reserves like the big financial institutions. They might have lot of people working under them to process the recent economic indicators, whereas you got only you. You need to spend lot of time in learning before expecting to make big profits.

3. They Became an Addictive Gambler Instead of a Smart Forex Trading Investor

Since the forex market involves big amount of money it can be addictive and exciting. Therefore many new traders just trade on just luck. They may win at times that too in short terms but lose money and trades in a long course of time.

An intelligent forex traders first studies and learns about the market and selects a currency pair and starts to win good amount of profits.

4. Short of Focus

You can trade with various numbers of currencies depending on your broker. But when you're new then select only a few and mostly the popular currencies like the US Dollar, Japanese Yen and Euro, and focus on these main currencies.

When you choose to trade with more currencies you need to analyze more amounts of data to mark the trends. So, it's better to trade with few currencies to know them well rather than trading and learning little about each currency.

5. No Reliable Forex Trading System

To have success in forex you have to predict the development of the market. The operation of multifunctional systems is better than the simple ones. Learning from trading strategies that are proven and trading systems are must for you if you want to be a successful technical trader. The important thing for a beginner is to have a forex trading system that is simple to use and understand. There are many trading systems available in the market; some needs money and some for free. But choose the trading system that is suitable to your investment, goals and personality.

Since you could lose your money without a trustworthy forex trading system,.

6. Failure to Follow and Stick to a Proven Winning Forex Trading System

It's not enough to have forex trading system but you need to follow it in both good and bad phases of your trading. Don't get your emotions to play in that is don't get greedy or nervous, just let your system decide the exit and entry points of a trade and you follow them. Don't overlook these or you may risk of missing a chance on a huge upswing or just stuck in the trade that is going down. Being smart investor in forex trading means that it's important to know when to exit a trade than when to enter a trade.

All begins with good education and learning about forex market is no different. You must get a Forex trading education that is exceptional, that can help you to turn into a forex trader who is successful. You will just lose money in forex market without the right forex training and forex trading education.

Learning Forex Trades

This piece of article is for people who want to make money in the forex trading. 7 out of 10 traders lose money in forex only the rest 30% are making money just by sitting from their home. Are those few have the inside news or just have knowledge and skill in trading on the forex market. Forex is volatile you can lose money by trading in very quick time. If you're curious to step into forex then a good forex trading then a good forex trading education is needed. It's a fact that foreign exchange (forex market) is not for Newbie's. But you should sharpen your skills before starting to trade.

How to Learn Forex Trading Using the web to search good resources to learn the forex trading, you're doing a right thing. Stick to the following tips before learning forex trading:

1) Basics about FX are quotes and what makes the market move

2) Find a simple way to develop a forex trading strategy with money management

3) With the help of forex trading simulator test your trading strategy

4) Start trading with a mini FX account and feel about winning and loosing real money.

5) Before you increase your trading size, try to trade four individual weeks in a row making money.

The statistics show that most of the people lose the game of trading since they cannot control the two emotional factors the Greed and Fear. The probability of getting a ‘Head' or ‘Tail' when flipping a coin has 50/50 chance and this same case might be applied to trading in forex. There is 50/50 chance to either win or lose a trade might occur. Yet, the ratio of profit and loss changes based on the market movements.

Why trade Forex instead of stocks?

The cause to trade in the forex instead of stocks, because the forex is 24 hours open in a day. No restrictions are there in forex market while trading in the short course. You can have an equal potential in a falling and rising market. Trading is done only in pairs in the forex market; the traders constantly have the chance to make big money with a rise and fall in the price of currency of a country. Maybe the advantages of Forex trading have the reply. Continue Forex Trading for 24 hour a day:

since forex market is open for 24hrs you need not wait for the opening of the market. You just need to sharpen your skills for your success. The Forex market begins at 5.00pm Sunday in New York and then followed by the Sydney, the Tokyo, the Singapore, the Hong Kong, and the London. The response is quick from you on the market trends when compared to other equity market. Due to the time of trading in forex market the forex trading can be learnt with good efficiency. In free time work on your trades that means you can work as part time investor starting with small capital before being a full time FX trader.

High Leverage Margin:

The Trade margin given by the brokers is of 50, 100, 150, or 200 to 1 of the trade margin. Through, the given leverage forex traders discover themselves controlling a big amount of money with small cash spend. For instance, a $1,000 in a 150:1 ratio Forex account can provide you the buying power of $150,000 in currency market. Occasionally more leverage can have you more amount of losses. When proper learning on forex trading is not taken by you, the leverage or the margins offered cannot work.

Leverage is a dominant tool for moneymaking, but not to everyone. Leverage is a necessary tool in the forex market, it simply loads up on risk, as many people assume. The average percentage movement of major currency is less than 1% daily, compared to 10% price movement per day of stocks.

Forex Trade Successfully

Trading in Forex is a good business and lot of money can be made from it by you but you would lose money easily if you don't know what you're doing in your trading. Since, the expert traders also have bad trades. Therefore how money can be made by any person with forex trading? From the experience I have by trading in forex market, basically 3 ways are there to make money with forex trading:

1) Have a good forex trading course and spend ample time on it to learn to perfectly execute forex trades to get success. It is a good and the best way, it may take some time to show the results because you need to test your latest forex trading abilities and need to spend sufficient time during day to grab the best forex trading opportunities.

2) Bring good forex trading software that has the ability to give you the signals to enter and exit market at the right time. You can get many profitable trades through this approach, but you to focus on the signals in the day, for you to enter and exit the trade in the market at the right time. You can make money from start with your forex trades with the help of trustworthy software; since in this case you need not have to be a expert in forex trading to make profits from your trades.

3) Invest money in the best automated trading software that is designed to execute the forex trades automatically. I think this is the best way for a newbie since it can make decent profits and can avoid losses 90% of the times. This way you can make good profits in the forex trade market right from your start and you can steadily improve your performance day by day. Of all things in it the best thing about it is, you just need to monitor the results and can make money on autopilot.

Although I haven't used automated forex trading system in my forex trades at start, I sincerely advise to use it for beginners entering the market. Automated forex trading system increased my performance even high to persons like me who are already in the forex market.

With no doubt the Forex trading can be extremely profitable business; there will be no demand for you to work neither for long hours nor to sell or buy anything, but the money you can make through forex trades relies on the tools that you choose to get good results. My advice again will be to have an automated forex trading option, since it can efficiently make profits from the forex trades and can reduce the risk involved. With a small investment you can make monthly profits of $2,000 when you execute your forex trades with best automated forex trading system.

Forex Auto Trading

In a recent estimate, more than a third of all traders are using forex auto trading on some level to aid them in their trading. This means using an automated trade program to handle some or all of a trader's work from analytics to acting on profitable trading opportunities. This is what to know about forex auto trading and the secret to making good money through it even if you've never had experience in the forex market in your life.

Forex auto trading offers the most accurate way to trade ahead of the curve and consequently maximize your profits: trend generation. Trend generators make use of complex and tested mathematical algorithms to effectively predict where exactly the market will go next. This is where most successful traders make their money, that is getting in on the ground floor of a successful trade.

I mentioned that these algorithms are tested. This is no small thing. These programs are tested for months or years in advance to ensure that they are as accurate and precise as and congruent with the actual market's results before being made available to traders. Most publishers even offer constant free updates for life to keep your tips as fresh and up to date as the market itself. If you want the most accurate information affecting your trading day in and day out, there is honestly no substitute for forex auto trading software.

So I've talked about the upside of forex trading, but let's face it, it's not all profits, pools, and sports cars. No matter how savvy a trader you are, eventually that profitable trend which you got in on through your trend generator will begin to go south and turn on you as the market fluctuates. Unless you have virtually no social life or sleep schedule, odds are you won't be around the minute that this occurs to be in a position to act on it and trade away.

Fortunately, forex auto trading programs are all inclusive in terms of what they can do. They keep a constant and vigilante watch over the market, around the clock. When the market changes out of your favor, they recognize this, and at the earliest indication, they "auto" trade away the bad turned investment on your behalf, thus greatly minimizing your losses. This is another area in which successful traders flourish. These programs work as an added safety net to give you complete peace of mind around the clock.

Forex Invincible

Should you want to possess a job that's rewarding AND ALSO compliant in that case look no more then foreign currency trading within The Forex market where it is possible to work commencing Monday morning, Sydney, Australia time, right through to Friday evening, New York, US time. This implies that no matter where you live in the world, or even the time of day that you wish to trade in you are going to find a way to start trading while in the Forex market.

It really is at all times an excellent idea to be as clued up as entirely possible when venturing into something new not to mention that there are numerous amount of currency trading courses that it is possible to attend to make certain you can get all of the information you might ever require. It can a wise plan too, to get good forex trading equipment to aid you make a lot more money then you otherwise would have done. A example of such a tool might be Forex signaling software, something like Forex Invincible.

Nonetheless, even with great helpful tools such as these, exchanging in the Forex exchange market can at times still be very difficult. The leading thing traders in actuality need to know are the trading hours of the Forex market as well as be certain traders benefit from the 24 hour cover and Forex Invincible will really be able to help you out, for its automated style means that it controls everything by itself.

Even though Forex Invincible is able to routinely indicate when it is best to buy and when it is best to sell, all this doesn't positively signify that each lone 1 of the exchanges will then be utterly victorious. Trading in forex is extremely changeable as a result it'd be deceitful to state that using software such as Forex Invincible will give you one hundred% victorious exchanges. Although, using signaling software will then up the total amount of trades that you will be successful in.

You may seek out and start using automated software that would be in the form of an expert advisor, or Forex robot. No matter the route you choose you will find that Fx trading will make you huge sums of money. You simply need to ensure that you will be correctly geared up.

There is certainly always a lot of excitement regarding anything new which may be being set free onto the currency market however, due to the fact you can find a lot of software it may be tricky to find out which is the best trading tool for you. It seems that Forex Invincible is actually a lot more superior to previous Forex signaling software though, although some people may find this harder to trust in then some traders might do. Many professionals would propose forex currency traders try it out before believing in their own skepticism though.