Forex Trading Robots - Why Do We not Give Up our Jobs and Use Them?

Forex Trading Robots - Why Do We not Give Up our Jobs and Use Them?
Author: Kelly Price

I checked a forex trading robots track record the other day and if I ran my trading account size on its track record I would be making $324,000 a year! Not bad for an outlay of a few hundred bucks. People fall for these track records, yet they always lose why? Because their greedy, think forex trading requires no effort or they simply don't read the disclaimer which is tucked away in the small print. If you see a track record of a forex automated trading system on the net with this disclaimer then it probably spells a wipe out of equity here it is: "CFTC RULE 4.41 - Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown". So they are not real time profits there paper profits made looking backwards! Would you trust the above? I know I wouldn't! It amazes me how many people buy these unproven systems. Most of the track records are so good, you wonder why the vendor even bothers selling it - he could make enough money by trading it. Of course he doesn't, because he knows it won't win and that's why you never see a real time track record. Do savvy forex traders use them, do you see them in bank dealing rooms or do you ever see anyone who has made long term money with them - No you don't. Today there is a huge industry in these trading systems and they appeal to the naive and greedy traders, who won't to make money with no effort. Of course in life you get out what you put in and forex trading is no different. Forex trading can offer you the ability to make huge profits and even a life changing income - but you must have the right mindset and get the right forex education. A forex trading robot probably will destroy your equity - but you don't have to take the lazy path! Forex is a challenge, an exciting one, with huge rewards so accept the challenge, get the right forex education and you can enjoy currency trading success.


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Mechanical Forex Trading Systems- a Free One That's Made Massive Profits!

Author: Kelly Price Posted: 18-03-2008
Of course, you can buy one of the numerous mechanical trading systems advertised by vendors (all with simulated track records) or you can use this one - that's FREE and made users millions. How it works is outlined in this article and it's a great way to make forex profits. This system is simple so simple in fact that you will have no problem understanding how and why it works - don't confuse the fact that it's simple with its profit making ability. Some of the world's top traders have used it and made a killing. The system was developed back in the seventies, to trade commodity markets by a trading legend - Richard Donchian, who is considered the father of modern trend following. It was originally devised to take advantage of the four week cycle in commodity markets that also exists in currency markets. It's called the four week rule and here is the rule: Liquidate short positions and open long position when a price exceeds the highs of the previous 4 calendar weeks. Liquidate long positions and open short position when a price falls below the lows of the previous 4 calendar weeks. How simple is that? VERY - but back test it and you will see it works well on trending markets and currencies trend well. Its problem emerges when markets don't trend, so add this filter: Eenter positions on the 4 week rule and exit the position on a shorter time frame. Time frames that are frequently used are 1 or 2 weeks. You then simply re enter on the 4 week rule.That's it! It works try it - but most forex traders won't use it - Why?Because it's to Simple Traders dismiss it straight away - but trading legends such as Richard Dennis have used it so you should consider it - if it's good enough for one of the greatest traders of all time - then its good enough for you. It's not trendyToday we have neural networks, Fibonacci systems, artificial intelligence and there more trendy and buzzy than this simple system. Traders like to think they can beat the markets, with trendy systems - but they can't. It's Not Fussy about Market Timing True - it doesn't buy market tops or bottoms and most traders are obsessed with prediction and of course prediction doesn't work - it's another word for hoping or guessing. This forex mechanical trading system works on the reality of price change and trades the truth - most traders hate doing this, despite the fact it's the only way to make money. It's Takes Discipline to Follow Most traders lack discipline and when a forex trading system is so mechanical and so un fussy about timing they can't do it and throw in the towel. This mechanical forex trading system works and is based on breakout methodology which is a proven way to make money - if you use it, you will find that you have a free system that will beat 99% of the junk systems sold on the net, with worthless simulated back tested track records. If you use this forex mechanical trading system you will get a head start on your way to long term profits.


Article Tags: Forex Trading System, Currency Trading System, Best Trading System, Mechanical Forex Trading System
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Currency Trading Systems - a Simple Free One for Huge Profits!

Author: Kelly Price Posted: 06-05-2008 Comments: 0 Views
If you want to win with a currency trading system, you may think that the more complex your system, the more chance it has of making money. You would be dead wrong. Lets look at why simple is best and a great FREE System, you can use right now. Consider this rather startling fact: Today our PC's are more complex than the one that landed man on the moon, with far more processing power and software applications today are simply mind boggling in their complexity and power. Now does this help traders make money? No!25 or 50 years ago 95% of traders lost money and the same ratio lose today, so the application of technology hasn't helped and there is a reason for this: Markets do NOT Move to a scientific theory, so you can't apply complexity to win. In fact, complex systems are more likely to lose than simple ones, because they have too many elements to break and are not as robust. Simple systems work best and will continue to outperform complex ones. You hear a lot about systems being able to think for themselves and adapt to market behavior - absolute rubbish, there are far to many variables and markets don't move to science - it's an odds game. The biggest laugh is - computers that are supposed to predict in advance. Prediction is just another word for hoping or guessing - try it and the prediction will be as accurate as your horoscope. The way to trade is to catch high odds trades and there is a great currency trading system that's free and can do this, its called Richard Donchian's 4 Week Rule. Its simple - buy a 4 week high and reverse and sell a 4 week low - that's it. Don't think it cant make money it does.This system has been the basis of many a successful trading system over the years and it works great in trending markets. Run it across a currency and see, you will always be in on the big trends. Its simple, robust and some of the best traders of all time, like Richard Dennis have taken it seriously and if its good enough for his forex trading strategy, its certainly good enough for yours. Of course in non trending markets, it will take drawdown but you can simply adjust the exit rule (see our other articles for more details on thisI once bought a computer trading system that was programmed by an ex NASA engineer and sure it was clever - but wiped my equity out in six weeks! I never made the same mistake again - complexity doesn't equal success in forex markets and there is no correlation between how complex a system is and how much money it will make you. So, if you want to make money with a currency trading system - keep it simple and a good place to start is to look at Richard Donchian's 4 Week Rule.

Forex is very lucrative, but you need to get educated to make money trading it

by Sairil Syam
The World Wide Forex market
Forex is a trading 'method' also known as FX or and foreign market exchange. Those involved in the foreign exchange markets are some of the largest companies and banks from around the world, trading in currencies from various countries to create a balance as some are going to gain money and others are going to lose money. The basics of forex are similar to that of the stock market found in any country, but on a much larger, grand scale, that involves people, currencies and trades from around the world, in just about any country.
Different currency rates happen and change every day. What the value of the dollar may be one day could be higher or lower the next. The trading on the forex market is one that you have to watch closely or if you are investing huge amounts of money, you could lose large amounts of money. The main trading areas for forex, happens in Tokyo, in London and in New York, but there are also many other locations around the world where forex trading does take place.
The most heavily traded currencies are those that include (in no particular order) the Australian dollar, the Swiss franc, the British pound sterling, the Japanese yen, the Eurozone eruo, and the United States dollar. You can trade any one currency against another and you can trade from that currency to another currency to build up additional money and interest daily.
The areas where forex trading is taking place will open and close, and the next will open and close. This is seen also in the stock exchanges from around the world, as different time zones are processing order and trading during different time frames. The results of any forex trading in one country could have results and differences in what happens in additional forex markets as the countries take turns opening and closing with the time zones. Exchange rates are going to vary from forex trade to forex trade, and if you are a broker, or if you are learning about the forex markets you want to know what the rates are on a given day before making any trades.
The stock market Is generally based on products, prices, and other factors within businesses that will change the price of stocks. If someone knows what is going to happened before the general public, it is often known as inside trading, using business secrets to buy stocks and make money - which by the way is illegal. There is very little, if any at all inside information in the forex trading markets. The monetary trades, buys and sells are all a part of the forex market but very little is based on business secrets, but more on the value of the economy, the currency and such of a country at that time.
Every currency that is traded on the forex market does have a three letter code associated with that currency so there is no misunderstanding about which currency or which country one is investing with at the time. The eruo is the EUR and the US dollar is known as the USD. The British pound is the GBP and the Japanese yen is known as the JPY. If you are interested in contacting a broker and becoming involved in the forex markets you can find many online where you can review the company information and transactions before processing and becoming involved in the forex markets.
Prophet1 Forex Expert Advisor for the Metatrader 4 (MT4) Platform is a highly profitable automated trading system. Most expert advisors sold today do not deliver the profit the forex investor is seeking. Most will only work in certain market conditions and for short periods of time. Not Prophet 1. Prophet1 is profitable in all market conditions and for extended periods. Our test will show our trades are over 90% profitable, growing our balance from $1,000 to over $42,000. Amazing results.
FAQ's
Q: can Prophet1 be used with any currency pair?
A: No. It is designed to work with only the GBPUSD
Q: can you use any time frame?
A: No. It is designed only for the GBPUSD on the 4 Hour Chart
Q: Is Prophet1 fully automated?
A: Yes. You only need to set Prophet1 on the GBPUSD 4 hour chart and let it run.
Q: Is there money management build into the EA?
A: No. In the settings you choose the number of lots. In our testing we used one standard lot for all trades.
Q: Does it matter what forex broker you use.
A: No.
About the Author
Prophet1 Forex Expert Advisor for the Metatrader 4 (MT4) Platform is a highly profitable automated trading system.

3 Highly Effective Online FX Trading Tips For Beginners

By : sam chims

Forex Trading involves the buying and selling of foreign currencies and can be a very lucrative business if you can do it successfully.
The Forex market runs 24 hours a day and can be traded anywhere in the world as long as you have an internet connection and an account with a dealer.
Online FX Trading profits are made every time a trader can successfully buy currencies at a low price and sell at a higher price. The difference between these two prices is the amount of profit they stand to make.
Although this is essentially what online FX trading contains, it does take skill to be a successful trader. We've identified 3 online FX trading steps to help you become a better trader:
1. Save Money with "Paper Trading"
Learning forex does not need to be a costly experience. You can actually learn how to trade without risking a penny. One popular method is "paper trading". This is basically when you write down when you would buy and sell currency without using real money.
All you would need to do is write down your buy and sell positions along with the stake you would use. From this, you can calculate the amount you would have won or lost if you had been committing real money.
The benefits of this are two fold. Apart from saving money, it also enables you to record your winning and losing decisions. This means that you can analyse your losing positions and work out why it was a loser so that you do not make the same mistake in the future.
2. Learn Using "Play Money" Accounts
Recently there have been a lot of online forex brokers that allow you to trade using "Play money". Registration is usually free and you will be given a balance to trade with.
Apart from having the same benefits as "paper trading", using accounts saves time because everything is recorded electronically and you get real life experience of using an online fx trading platform. An example of brokers that allows both real and play money accounts is Oxanda.
3. Choosing Online FX Trading Software
If you don't wish to hire a firm to assist you with online FX trading, there are plenty of software programs out there that you can use to help. These software programs are invaluable and a good one will include multiple features that will help make your online trading efforts a success.
A good software program will provide you with instant access to the Global Foreign Exchange market, and will also offer automated alerts as to the market condition and whether or not you should buy or sell in a particular trade.
A good idea is to make a list of the software programs available and then research which are the best for your situation.
Learning forex should not have to be a costly experience. The tips provided above should assist you to learn Online FX Trading quickly and, most importantly, cost-effectively.
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Article Tags: Fx Trading, Online Fx Trading
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