best forex trading robots reviews

Forex or Foreign Exchange is the most liquid and the largest financial market in the world. Unlike other financial market, the Forex market doesn’t have a centralized location. Exchanges are done through electronic network and the whole world participates in the trade.

Forex trading involves buying and selling of different currencies. As with most trades, to make a profit in Forex, you need to buy low and sell high. Forex isn’t really complicated. However, there are things that you need to consider in order to successfully make some profit out of this very liquid financial market.

Forex trading can really give you a chance to earn large amounts of money. In fact, people who traded in Forex became instant millionaires almost overnight. However, you need to realize the fact that aside from the earning potential you can get when trading Forex, there are also risks involved and many people suffered huge financial losses trading in Forex.

This is why it is important for you to get an education on Forex trading. You have to get a proper education and not just a crash-course-read-articles kind of education.

In most business schools in the United States, there are courses that specialize in trading in the financial market such as Forex. These schools can really give you that proper skills and knowledge you need in order for you to successfully trade in the Forex market. Not only that. Getting a proper education from good business schools about Forex prepare you when you enter the Forex market to trade.

A good Forex trading school will educate you on how to read charts effectively and how to spot trends. Since knowing how to read the Forex market charts can give you an idea on where a particular currency is heading, you will have an idea on which currency you want to buy and sell. Knowing how to read the charts is one of the most important skills you need to have when you enter the Forex market. This skill will substantially minimize the risk of losing money and maximize the chances of earning.

As much as possible, you should look for a school that offer real-time trading with dummy accounts and real accounts. Since the best teacher is experience, schools should require you, as their students, to set up dummy accounts for practice and also real funded accounts to trade currencies in the actual Forex market. However, the real funded accounts should be in mini Forex accounts to avoid risking and losing a lot of money in case you made a mistake in the trades.

Another benefit that you can gain if you trade in real or dummy accounts for practice is experience. Once you enter the Forex market, you will have a better idea on how Forex markets work. The school should also have different trading systems to allow you to choose which trading system you are most comfortable with. Also, you will get a first hand feel on how to use these systems and avoid making mistakes in the real world.

Since trading Forex today is widely available for all kinds of people with a computer and an active internet connection. Most people don’t realize that Forex requires you to have skills and considerably, a high amount of money to invest. Forex doesn’t guarantee that everyone will win; you should know that Forex is a very risky financial market to invest in and having the proper knowledge and skills is essential for your success in trading in the Forex market.

You should know about the risks involved in Forex and you should also know that many people have suffered financially because they entered the Forex market without having the knowledge and skills required to be successful. Therefore, it is very important for you to get the proper education first before you enter the Forex market.

Always remember, with the proper knowledge about trading Forex, the better your chances will be to profit in this financial market.

There are different schools available that teaches all about the basics in Forex and allow you to experience trading in Forex with a trial account. Look for the things mentioned above and you can be sure that you will obtain all the things you need in order to start trading in the Forex market.

If you trade anything you need to educate yourself and I am not taking about how the markets work and how to place orders that’s easy, but it won’t help you win.

Below find some forex education that’s free and will help you build a trading system that can make you big long term gains.

The good news it’s all free.

You may be tempted to buy an e-book from a guru and pay but you don’t need to, you can get a good solid system for free if you know what to look for.

Follow the advice on forex education below and you will see that you can build and apply a forex trading system from free sources on the net.

The Basics

The first thing to learn about is technical analysis simply type in the phrase and all the basics are there for free learn all about trend lines, support and resistance etc.

Now let’s look at a way of applying technical trading that works today as it always has.

Trading breakouts

If you look up this phrase then you will understand why breakouts work.

It really is simple to understand.

Keep in mind most of the world’s top traders use breakouts in their methodology.

So now you will know the basics of technical analysis and the logic of trading breakouts.

The next bit of forex education we need to look at is timing trades.

For this we need to look at some indicators that will help us time trades, spot trend changes and help us calculate the strength of trends.

Here are a few you should learn about:

1. Bollinger bands

2. Stochastics

3. Moving Averages

4. RSI

There are more but over 20 years of trading I have always used these as the basis of my own trading.

Applying what you have learned

In further articles in this series I will show you how to use charts, a breakout methodology with the indicators above to build a trading system that you can use which you will understand have confidence in and could make some nice profits.

We will look also at money management and adopting the right mindset to go and make some big profits.

For now simply brush up your forex education in the areas indicated above and we will move to the next stage of putting it all together.

In normal life working hard and being clever can often mean you make more money but in Forex trading neither apply or will make you money, just understand the following if you want to win…

Why You don’t need to Work Hard

Anyone can learn Forex trading in a few weeks and make money in 30 minutes or less per day. You don’t need to work hard you need to work smart get the right Forex education and apply your knowledge with discipline.

It doesn’t matter how long you take to generate your trading signal you are judged only on the result.

Many traders work hard, lose and think the more information they have the better and there always swapping systems etc where they should just get one and stick with it.

Why You Don’t need to be Clever

It’s a fact anyone can learn Forex trading and simple systems work best as the market is based on odds – in fact its very similar to playing poker, you play the odds correctly and win.

Why Keeping it Simple and NOT Working hard is the Right Way

More top traders in the world come from a background of poker than they do mathematics and these guys make a killing – they keep it simple and play the odds and if you do to – you can win.

The Forex markets haven’t changed in 50 years and the same ratio of losers to winner’s remains, despite all the advances in forecasting and education which leads to an obvious conclusion it doesn’t help.

Forex trading is hard because you need the discipline to apply your method and this means keeping losses small as the market hands you a losing period – this is where most traders fail and you need to get the right mindset to succeed.

Its mindset rather than working hard or complicated methods which is the most important trait when seeking Forex trading success.

Work smart, keep it simple and have mental discipline and confidence and you can win at Forex.

There is lots of forex education available free online and here we are going to give you some tips on finding the best that can lead you to currency trading success.

1. FREE Info

Most of what you will need can be found free on the net. Many of the e-books sold by vendors simply rehash what is found on the net and you can avoid paying for it by simply seeking out the right sources – search around and see what you find and you will stumble upon some good sources.

If you are your trading on forex technical analysis you can find everything you need to know about indicators and chart patterns to build your own trading system. For a novice trader this is the best way to trade, avoid trading news – it’s simply stories that reflect the losing majority, so avoid it.

Your aim is to trade the truth and simply follow price trends and everything you need can be found free – you need something more but I will return to this in a moment.

2. Expert Systems

All over the net claiming they can make you rich with mechanical systems and most will lose. Why? Because – they rely on clever marketing copy and simulated track records done in hindsight. If you see an ad that looks to good to be true pass it by, it is – has never been traded and simply put together by a marketing company.

3. Forex forums.

I took a look around a few of the top forums before I wrote this article and my look confirmed by suspicion full of losing traders.

The guys giving advice are generally people who can’t make any money trading forex and it makes them feel better and big to give out their wisdom.

I have been a trader for 25 years and never bothered using forex forums and don’t think you should either.

4. The Edge

To make money you need a method and that’s easily constructed from free info on the net which we touched on in point 1.

You can easily build a system based upon breakout methodology, support resistance and a few momentum indicators and win at forex – just one word of caution:

Discipline

You will have heard how it’s essential in currency trading and it is but it’s very hard to acquire that’s why 95% of traders wipe out their equity quickly.

To ram home the importance of discipline, go to your local online bookstore and pick up some books by traders who have walked the walk, rather than simply talk the talk.

A few essential books are:

Market Wizards EDIT – Jack Schwager

This book interviews trading legends and lots of them and is one of the most popular investment books of all time and with good reason

The Way of the Turtle – Curtis Faith

This book tells the story of the turtles a group of 14 traders who became legends after learning to trade in 14 days and then earning $100 million in just 4 years.

The Disciplined Trader – Mark Douglas

A bit repetitive but rams home the importance of discipline better than any book I have ever read.

The three books above you can pick up for about $60.00 and their worth every cent.

They can explain far better than me my discipline is vital yet so hard to achieve.

Always keep in mind if you don’t have the discipline to trade your forex trading system, you don’t have one!

Trading looks easy yet few succeed – the ones that do build their own trading methods to get confidence which is the first step to trading with discipline.

Do the above get your method from free sources and the books above and you will have a head start on your way to learning currency trading the right way and get vital forex education, to help you win and win big.

Enclosed in this article you will find some common trading mistakes which you must make a part of your essential Forex education or you will lose and lose quickly.

Let’s start with how many traders lose money and its 95% and that’s a big majority! This leads us to our first point which most trades ignore and try and get rich quick.

1. Forex Trading is Easy

Forex trading is not easy and you wouldn’t expect it to be with the rewards on offer. If you want to win, you need to learn skills and this leads me to the next fact about Forex trading and its:

2. Forex Robots and Expert Advisors will Make You Rich

All the cheap, get rich quick Forex software you see sold online will lose you money. These systems offer you financial freedom for paying out a couple of hundred of dollars or less but if they worked 95% of traders wouldn’t lose. They are sold so cheaply because they simply don’t work.

3. Effort or Intelligence Leads to Success

This is a common mistake to make, because you rewarded for these traits in society but you don’t get rewarded for them in Forex trading. You are only rewarded for the accuracy of your trading signal, it can take you 5 hours or 5 minutes it doesn’t matter how long it takes, profits are all that count. You don’t need to work hard or be smart, just get the right education and mindset and trading should take you just 30 minutes a day or less.

4. Forex Price Movement can be Predicted

No they can’t and if they could there would be no market as we would all know the price ahead of time, markets move on uncertainty not certainty. If try and predict you are hoping or guessing and that won’t make you money, so simply trade the reality of price change and you will have the odds on your side.

5. Not Trading with Discipline

This is something the vast majority of traders do and it leads to a wipeout of equity. If you cannot trade your system with discipline you simply don’t have one.

You are going to lose for long periods, all traders do and you must keep your losses small in these periods and take them cheerfully. If you get frustrated and angry like most traders, you will start to run losses and that ends in disaster you need to stay on course until you hit a home run.

How to Win at Forex Trading

The above are all common mistakes and you need to avoid them and if you do and get a solid Forex education, you could soon be making some great profits, in 30 minutes a day or less.

If you want to win at forex trading, then you can it’s a learned skill. That’s the good news however 95% of traders lose and you must understand the following key points and make them part of your essential forex education. If you do, you will win…

Here are your key points, in no particular order of importance – there all important.

1. Forex Trading is NOT Easy!

Most traders just think they can buy $100 buck robot or get a mentor and someone will lead them to success. This is na

As part of your Forex Education you need to be aware of the facts enclosed before you start if you understand them they can put you on the road to Forex Success and if you don’t, you will join the losing majority…Here are the essential facts you need to make part of your Forex Education; there in no particular order of importance there all important.

1. Forex Trading Is Not Easy!

Of course you wouldn’t expect it to be with the rewards on offer and the fact its not easy is shown by the fact that 95% of traders lose; this isn’t because they cant learn to win, anyone can but because they fall for myths or follow vendors, with junk systems which leads on the next point.

2. Forex Robots With Back Tested Results Will Wipe You Out

The industry is huge but all the heavily promoted robots have a problem – they have never been traded! They produce meaningless, back tests on paper and they never repeat. Any trader who thinks he will get rich by spending a $100 is na

If you want to learn forex and get the best Forex education you need to know about “the turtles” You may never have heard of them but these traders learned to trade in just 14 days ( they had no previous experience and went on to make $100 million! How did they do it? Let’s find out.

In 1984, trading legend Richard Dennis taught a Trend Following trading methodology to the group of students above, to prove that the skills required to trade successfully could be specifically learned by ANYONE.

Dennis was settling An argument with business partner William Eckhardt.

Dennis believed anyone could learn to trade, Eckhardt disagreed.

The “turtle” experiment was then carried out to prove who was right and all the potential traders were from different walks of life and all had no experience of trading.

The group included:

• An actor

• A security guard

• Two card players

• An auditor

• A boy fresh from school

• A woman exchange clerk

The Experiment

This group of 14 traders then proved Dennis right by earning an average annual compound rate of return of 80%, making over $100 million dollars for Dennis and many went on to become trading legends who still trade today.

What You Can Learn From The Turtles?

If you are embarking upon learning Forex trading and getting a Forex education the experiment has several key points you need to consider in your own Forex trading strategy.

The reason most traders fail is simply they cannot get the right mindset to succeed and this sees 95% lose.

The turtle trading experiment taught them the RIGHT MINDSET to trade successfully and gave them a set of rules they could believe in and have confidence in.

The system they were taught was simple, anyone could learn it and Dennis knew that simple systems work best as not only are they more robust in real time trading than complicated ones – but they are easier for traders to have confidence in as well.

Dennis taught them to have confidence in the system they were trading, and follow it rigidly to achieve success and this is the simple formula you need to learn as part of your own Forex education – if you do you could enjoy currency trading success to.

A Simple System + Discipline = Trading Success

Keep in mind they did this all in 14 days!

So its not the effort you put it in that makes a forex trader successful its working smart in the right areas that will give you success.

Remember:

You don’t get a reward in Forex trading for being clever or working hard, you get your reward for being RIGHT – PERIOD.

So when you consider your own Forex trading get a simple system that you can have confidence in and you will then be able to apply it with rigid discipline – this is really the key to currency trading success.

Of course you may not become as rich as the turtles did but if you learn the right Forex education you can become a successful trader the opportunity is open to all and the potential is huge.

Forex trading is an exciting challenge so if you have the right mindset and are prepared to work hard in the right areas you could change your financial future for ever. The question is:

The challenge is open but are you up to the challenge? -If you are welcome to the worlds most exciting business opportunity!

Below you will find 10 questions if you can answer them all correctly you have had good forex education and could join the elite 5% of traders who make big profits – get any of them wrong and you need to continue your forex education! So let’s look at the questions below.

1. Forex day trading is a good way to make money

The answer is no – your 100% guaranteed to lose as all short term volatility is random you can’t get the odds in your favour and you will lose.

2. Forex markets move to scientific theory

The answer is no of course they don’t. If they did then we would all know the answer in advance and there would be no market. A market price moves by its very nature due to uncertainty.

3. Buying Dips To Moving Averages Is a Great Strategy

Buying dips to a moving average is a great way to lose money – it’s a lagging not a leading indicator and should never be used in isolation

4. Everything about trading is learned anyone can do it

The correct answer is yes. Anyone can learn to trade if they get the right Forex education and learn the correct knowledge and skills to succeed. Of course most traders fail to do this and lose.

5 Simple Forex Trading Systems Work Better Than Complicated Ones

As a general rule the correct answer is yes, as they are more robust in the face of brutal ever changing market conditions. If a system is to complicated it collapses, as there are too many elements to break.

Most of the world’s top trading systems are simple.

6. I Don’t Need To Work Hard To Make a Lot Of Money

The correct answer is yes. You don’t need to work hard, as there is no correlation between the effort you put in and the reward you get out of forex trading.

You only get paid for being right, nothing else and the amount of effort you make does NOT make any difference to your currency trading success.

The trick is to work smart not hard.

7. Buy low sell high is the best way to make money

The correct answer is no. The best way to make money is not to try and buy lows but buy new highs. The fact is the biggest market moves tend to start form new market HIGHS Not market lows.

If you want to catch the big trends, then aim for these breaks at new market highs and trade them.

8. The more news sources I consult the better

The correct answer is no. News sources don’t help you make money, in fact they normally help you lose – as you run with the pack and let your emotions get involved.

News is stories and the people giving them are not traders follow the news and you will lose.

9. I have a system that works I Don’t need any more education

The correct answer is yes. Many traders think they have to keep learning for ever but if you have a system that works you don’t need to spend any more time studying you can simply spend your time applying it and making money.

10. My risk per trade is my expected profit divided by my stop

The answer is obviously no as this is simply an opinion you hold and has no relation to what the odds of success are. Many people say its high return low risk based upon their opinion and that’s not the way to trade forex.

If you answered the above 10 questions correctly, you are on your way to being a winner – if you got any wrong, then its time to keep studying and improving your forex education.