best forex trading robots reviews

The rise in popularity of currency trading online has seen a huge amount of forex trading courses being offered to forex traders but how many of them are actually worth buying and likely to help you become a better trader?

Let’s find out how to find the best forex trading courses and the best forex education.

The first question you should ask yourself when you’re thinking of buying a forex trading course is:

If it’s so good why are they selling it?

It’s an obvious question!

If the advice is so good why are they selling it, when they could shut up and spend their time making money?

Yet they will make you rich for a few hundred dollars, isn’t that nice of them?

In reality their just interested in selling course and it won’t surprise you to learn that:

The Majority of Courses are NOT Worth Paying For

The vast majority of forex trading courses sold are junk and rely on enticing advertising copy, to appeal to the greed of buyers and this applies to well over 90% of information sold.

Don’t Fall For Advertising Hype

They sell their courses and hope to dupe investors with enticing copy like “make a regular income”, “90% success rate” scalp, “10 – 15 pips a day” etc

These titles make me laugh, yet it is surprising how many people fall for them, buy the course and then wonder why they lose.

No One Is Going To Make You Rich

They pay a few hundred bucks for a forex trading course and expect then untold riches to be given to them by the vendor and are bemused when they lose their equity.

The Acid Test

If you want to test how good the information sold is:

Simply ask the vendor for his real time track record and in most cases you won’t get one.

You will however get a hypothetical one, which is done knowing the closing prices, but we can all do that! Problem is we have to trade going forward not backwards.

Getting the best Forex Education

To do this, you do not need to buy a course from a vendor who has never traded or has no track record!

You can get all the basics free online.

You can learn just about everything if you take the time to look (we will cover the way to do this in part 2 of this article) and much of the free material is excellent.

You can also get some great education from your local bookstore – from traders who are genuine legends and these are traders who have walked the walk rather than simply talk the talk – and many of the books you can get are excellent value.

Think about it

No vendor on the net is going to help you get rich for a few hundred dollars.

While there are some well put together honest courses, you can get most of the information free anyway, so why buy it?

Your On Your Own

Forex trading is hard and the only traders who succeed are the ones who take the time and trouble to teach themselves and put it the hours.

They know (like all successful traders do) that the only person who can give them currency trading success is them and a forex course by a vendor is in most cases a complete waste of money.

Many traders don’t win because they try to hard with their forex strategy, however there is no correlation between the effort you make and the profits you earn.

Let’s look how to work less on a forex trading strategy, work smart and make bigger profits.

1. Your method

Forget complicated methods simple ones work better and the top trading systems in the world are based on just a few indicators.

A simple system is more robust than a complicated one and another reason for a simple system is that its:

Easier to understand.

This gives you confidence so you can apply it with discipline an essential element of trading is to stick with your system through losing periods.

Many traders get frustrated with systems they don’t understand or are to complicated and chop ad change – don’t make this mistake.

A simple system based on sound logic is all you need.

Don’t tick watch

Many traders watch the markets all through the day for hours.

There is absolutely no point in doing this all short term moves are random only watch the prices once a day.

2. Trade longer term

If you day trade you will lose (as we have said all short term moves are random), trading longer term means that you will only need the close.

3. Applying your system

If you have a simple system its going to be about 10 minutes a currency to decide entry and exit levels so that’s around 30 minutes a day. Place your orders set your stops and that’s it.

So how long does it take to do your forex trading strategy?

Getting a system that suits you is the longest part and we have given in the past advice on how to do this.

It doesn’t take that long however and about a week or two is all you need to get one sorted, then its under 30 minutes a day.

Big profits

Once you are in big trends you can sit back for weeks or months and watch profits pile up. If you are wrong you are taken out on stop you set and that’s it.

Trade sparingly

Only look for the best risk reward trades on breakouts, that could yield big profits and don’t look to do marginal trades.

The big trades per currency only come a few times per year so be patient.

That’s about it.

There is no correlation between how much money you make and the time spent on trading in fact the opposite is true.

You need to work smart not hard on your forex trading strategy – remember that.