best forex trading robots reviews

With the rise of online currency trading, we have seen a huge rise in forex education which is sold online.

Most promises you wealth the easy way or secret systems but what is the truth about forex education online.

Let?s look at some facts before you consider buying any.

Fact: If it?s that good why are they selling it?

The most obvious question and it has an obvious answer ? they don?t make money trading, so why not pretend you can get rich with their info and appeal to the greed of investors?

The vast majority of forex education online is sold by failed brokers or marketing companies.

They don?t have the confidence or know it doesn?t work, so why not get guaranteed income selling it online and make up some appealing copy?

Fact: Ever seen an e-book or system sold with this?

A real time track record? That?s real dollars made in the market by the seller?

Of course you don?t!

What you normally get is a hypothetical track record simulated in hindsight.

How hard is that?

They know the closing prices, when they make the track record up!

My daughter could do that and make a profit and she has no trading experience and is 10 next birthday.

They mean nothing at all in terms of profitability of the course.

The day trading myth

The vast majority focus on forex day trading, which by its very nature cannot work, as all short term volatility is random.

You can?t make money forex day trading, but its good story, so vendors appeal to people?s ignorance and greed, make up a track record and take their cash.

Let?s look at the secrets you are supposed to learn from these courses.

What secrets do they normally contain?

Well none ? fact is, you can get far better forex education off the net and the good news is it?s all free.

If you want to save your money then you can and get better information for free.

The reality of trading Forex is over 90% of traders lose.

Only a minority win and trust me, they know the only person who can give them success is themselves and they wont get rich spending $100 or so.

If you want to learn forex trading, you will need to do it on your own or lose – it?s a simple choice.

If you don?t like the sound of it don?t trade online currencies.

The rise in popularity of online currency trading has seen a huge surge in the number of forex day trading systems sold. They are an attractive option for many novice traders, who see them as a low risk high reward way of trading.

Let’s look in more detail at these forex day trading systems and how you can profit from them.

Forex day trading systems don’t work and if you don’t believe me, read on and you will see why this method of trading should be avoided at all costs.

1. The Data Is Unreliable

The data is absolutely meaningless because the time period is to short so if as with most forex trading systems they are using forex charts to generate signals the system is doomed to fail.

For example, when a life assurance company works out premiums they don’t just use 1, 2 or 10 people, they look at the bigger picture. They use millions of people to calculate the odds and it’s the same in forex trading:

You need data that gives you a big enough snapshot to calculate the odds.

2. The Proof

If you want proof try and find a forex day trading system that has a real time track record of profits when you go to buy one, over the long term and you won’t get one.

All you will get is hypothetical one in hindsight (not exactly hard to make a profit when you know the closing prices!) so these should be treated with extreme caution unless they have been tracked in real time currency trading.

3. Profits and Losses

Day trading also breaks another rule that is the cornerstone of all successful forex trading strategies – Run your profits to cover your inevitable losses.

In day trading losses are kept small (even thought he odds are high you will lose) but running profits is never in the equation.

Most forex day trading systems look at scalping a quick profit or closing the position out quickly – so even if the currency day trader has a profit he doesn’t run it!

The result is, the total loss of equity in the account.

4. The Real Way to Make Money

Is to have the odds on your side and be able to calculate the odds.

If you want to learn forex trading look at swing trading, or long term trend following and base your forex trading strategy on these methods – you then have meaningful data that can help you calculate the odds.

Forex day trading systems sound great in theory, but the reality is these systems are sold by vendors who have enticing marketing copy and nothing to back it up.

They make money selling systems NOT from trading.

Avoid day trading and don’t make it part of your forex education, or you will never achieve currency trading success.

I’m just learning about the ForEx and I’d like to hear about personal experiences and lessons learned.

I have just started to study Forex and wanted advice.

Do I get income tax from earning money from Forex (foreign exchange)?

Hello Everyone,
I placed a forex trade on 30-May-06..and I made a huge mistake in that. Would you like to see what is it and learn from it or advice me on it??
If so, then visit to get the details of the trade at – http://the-forex-trading.blogspot.com

Do email me at Renee_Loh@gmail.com. I trade forex for a living and do it from home. Committed to help beginners to get started on this, that is…if you are willing to try.