Archive for February, 2010

I think it is forex. At least to me. But I wasn’t doing so well until a few months ago as I take a very cautious route. Little risk.

My break through came with Forex Killer for my forex trading. Forex Killer Software was able to give me some consistent forex trading signals that were profitable and after I made some money I became more confident and was more able to trade with some risk making profits easier.

I have since tried a few automated forex trading systems but not gone fully into them as I always like to control my risk and exposure to loss.
http://forex88.info

The results on the web page about the forex trading robot say they made $453,000 by investing $10,000. Well I invested $1,000 months ago and I’m only at $5,290. Was it just a cleaver sales pitch? I mean I am happy with my investment but I want to know if I’m doing anything wrong? I am using the default settings on everything, I don’t know anything about forex trading so I am not going to change any setting I don’t know about. I want to be able to make as much money as possible this year.

http://forexboomrang.com

The fine print sez
YOUR RESULTS MAY VARY….

or something

Sounds like a cleaver sales pitch and you fell for it…. oops!

and as we all know
the emperor is NAKED!
.

I’ve a demo account on Alpari Uk & other in Interbank Fx. Both forex broker have good features :
Interbank FX : MT4 broker, no dealing desk, tight spreads, good customer service. Mini account for $250
Alpari Uk : MT4 broker, tight spreads (better than Interbank Fx), good customer service but has dealing desk for live trading (5 – 15 seconds to accept an order). Mini account for $200. Withdrawal is more expensive in Alpari than in Interbank.
I’m wondering if it’s better to trade Alpari Uk than Interbank Forex because I live in France, thus I’m closer to Alpari Uk than Interbank Forex (in Utah) .
I’ve read some reviews and Alpari has better ranking than that of Interbank Forex.
What do you suggest me ? which one is better to trade Forex Market ?
Thank you
To The Positronic Pimp : Why dealing desk isn’t an important issue? since non dealing desk brokers means faster orders passed, with a dealing broker there will be slippage for istance or requoting.

I don’t really see what difference the distance makes. It’s all Internet and the forex market is a worldwide market, unless you were losing some money having to do with currency conversions with one and not the other, which doesn’t seem to be the case. As you said, and according to the source below which has forex broker ratings based upon invidudal traders opinions, Alpari (7.64) ranks better than Interbank Fx (4.81).

I think I would agree with the answer above, all other things being equal, go with the lower spreads.

All the forex advice you need to become a successful trader is available on the internet for free.

Here we will show you where to get the best forex advice for free and turn you into a profitable trader.

A common error

A common error made by many novice forex traders is to think that they can buy a system or an e-book from a guru for $100 or so and buy success.

Now, while there is some good forex advice sold on the net, the bulk of it is not worth the money.

Most of it is sold by salesmen (who have never traded) or failed brokers who cant trade and decide they may as well sell advice.

It is common sense that you cannot buy forex success for $100 or so, as if the forex advice worked then it would not be sold.

A quick way to decide if sold forex advice is worth your hard cash is to ask for a real time track record of real money made in the markets.

After that look for a money back guarantee.

If you don’t get both the above don’t buy it.

The reason you should do it on your own is that if you get your own forex advice and study it you will have confidence in it.

This means you will be more likely to follow it with discipline when you come to trade it.

It is far harder to follow someone else’s advice with discipline than your own, as you will always understand your own better.

The internet has all the information you need for free and here are some topics to look up and study

1. Technical analysis

Everything you need to know can be found on the net from advantages to the chart formations.

2. Technical indicators

You will know how to draw charts and what the formations mean from Point 1. Now you need some timing indicators.

Good ones to look up are: Bollinger bands, stochastics, moving averages, RSI and MACD. By all means look up others but the above are the ones we find most useful for entering a market

Go to a free chart service such as futuresource.com and look at them on some live charts.

3. Breakouts

Now you have looked at some charts and some indicators to help you identify and enter trends you need a methodology.

Perhaps the easiest methodology to use is a breakout method.

Look it up.

It’s easy to understand and easy to implement and it works.

4. Putting it altogether.

With the forex advice you have you can build a simple system to trade.

Base the system on breakouts and use chart support and resistance to spot profitable trading set ups.

You can then experiment with various technical indicators to help you enter breakouts.

Our own personal way of trading uses chart support and resistance to set up trades.

We then define entry with stohastics (a momentum indicator) and RSI which is an indication of the strength of the price and that’s it.

There is a lot of forex advice on the net that makes forex trading more difficult than it really is.

In fact, anyone with the free forex advice on the net can build test and implement a system based upon sound logic.

Keep in mind

The majority of traders fail because they lack discipline.

This comes from the fact that they don’t have confidence in their system and throw in the towel as soon as they have a few losses.

By taking some time to build your own system, you will have confidence in it and will be more able to follow it with discipline.

The fact is all the forex advice you need to build and trade a system for yourself is free.

If you put in the time and effort your study will be handsomely rewarded.

Sacha Tarkovsky
http://www.articlesbase.com/currency-trading-articles/forex-trading-advice-the-good-news-is-that-you-can-get-great-advice-for-free-131316.html

In my last article we discussed the importance of choosing a Forex Robot that not only has a good record in back-test results, but is also producing around 85-100% profit in live trading.

Now that you have a Forex robot that you’re pretty certain is going to help you make consistent profitable trades, what’s next?

You need to remember first of all that although you might have a Robot that will consistently make winning trades for you, the reality of currency trading is that you will incur some losses along the way. There’s no getting around it, it’s the nature of the Forex game.

The key to Forex trading is to be focused on the long-term gains. Remember this: With or without an automatic trading system, you are certain to lose some trades along the way.

The positive of having a Forex Robot trading for you is that a Robot is cold and calculating and therefore emotions are eliminated from the trading factor. This will help you keep a cool head when you experience a few losses.

When you experience a series of losses, the important thing is to keep executing your trading signals and stay the course until you are hitting profits again.

Maintaining a disciplined, long term outlook will give you the edge when trading in the Forex market.

Forex robots can profitably work for you. Don’t believe all the hype that an automated system will present you with all wins. If you are patient and ignore the short term losses, in a year or so you should begin to see a very profitable income come to fruition trading Forex.

Eric Jacobson
http://www.articlesbase.com/currency-trading-articles/the-reality-of-making-money-with-forex-robots-part-2-734800.html