best forex trading robots reviews

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.

Anyone can make Learn Forex trading and win but you need to understand the 4 facts enclosed or you will join the 95% of losing traders. Let’s take a look at the facts you need to know, to get on the road to Forex trading success.

These facts are in no particular order of importance – there all important!

Fact 1: Forex Robots and Expert Advisors NEVER make Big Gains

Many traders simply think they can spend a few hundred dollars, on a cheap software package and make an income for life with no effort, it looks to good to be true and it is.

These systems lose and that’s why their so cheap! You will never find one which has an audited track record, that’s verified in real time by an independent source. All you get are paper simulations or figures from the vendor, with no independent verification.

If you want to win at Forex, you need to learn skills but if you do you will well rewarded for your efforts.

Fact 2: Forex Prices Cannot be predicted

There is no hidden order to Forex price movement and prices cannot be predicted so don’t try. If you want to win trade the reality of price change, as you see it on a price chart. Don’t try and predict, simply follow market movement and when you do this, make sure your system is simple.

Fact 3: The Best Systems are simple NOT complicated

Simple systems work best and always have, because they are more robust than complex ones with fewer elements to break. If you make a system too complicated it will simply collapse, as it has too many variables to break.

Keep your system nice and simple, with just a few rules and parameters and then pay attention to the next fact, as it is the biggest difference between winners and losers.

Fact 4: Trading discipline is the Key to Forex Success

This is the real difference between winners and losers, because as we have seen anyone can learn a simple system but few traders have the discipline to execute it with discipline – why?

Because most traders can’t take losing they get frustrated, angry, change systems, run losing trades or quit. What they don’t understand is that to win long term, you have to accept losses in the short term.

If you have to decide do you want to be right all the time or make money because the Forex market won’t allow you to do both. Learn to lose, keep your losses small and you will hit winners and make huge profits over the long term.

If you understand the above facts, your all set to enjoy Forex trading success, in 30 minutes a day or less, in the world’s most exciting business – global Forex trading.

In the last article on “9 Reasons on Why You Must Trade Forex (Part 1 of 2)”
You have understand the:

1. Round the clock trading
2. No need to choose from too many counters
3. Liquidity
4. Good Leverage

Next you will understand more on why you must trade forex.

5. No Brokerage fee or commission

Forex brokers mostly make from the spread between the bid and ask prices. Unlike other stock brokers where on top of the spread between the bid and ask prices, they will charge a commission based on the percentage of total value of contract.

6. Able to short currencies

In forex, there is no restriction on short selling as all currencies are traded in pairs. i.e. you buy or sell one currency against another unlike stocks and shares. Without the restrictions, a trader can react quickly to the changing dynamics of the market unlike in the equities market where short selling is discouraged or made inconvenient to do.

7. Minimum investment

You can start trading in forex from as little as USD200. The amount is dependent on the broker you are opening an account with. This is due to the leverage a trader can obtain from the broker which allows such low minimum deposit.

8. Trade globally

With the overwhelming prevalence of internet and the many easily accessible forex trading platform provided by the forex brokers, we can now trade anytime and anywhere in the world as long as we have access to the internet.

9. Unlimited Real time Demo Account Practice

Most forex brokers will allow you to open a demo trading account to practice your strategy and also get familiar with their trading platform. What this means is that you do not have to paper trade. It allows you to get as close and as real as trading in the real market without losing a cent first.

Forex Options Trading can do a very good model for people who want to do Forex Trading. What you need is a right system, the willingness to work and determination to not give until you reach your goal. If you are willing to take action, then this Forex Trading is suitable for you.

There are a myriad of forex trading robots on the market, all claiming to be extremely effective in producing consistently profitable trades.

I’d like to know what books you would recommend to someone who would like to make it in the forex business. I’d love to learn from experienced traders talking about their struggles in this very tough market.

It’s a known fact that 95% of traders lose at forex trading and if you don’t want to join the majority, you need to understand the two points enclosed and make them part of your essential Forex education.

The good news is anyone can win at forex trading, if they have the right education and mindset. Let’s look at the two key points you need to consider which can put you on the road to success.

1. Forex Expert Advisors and Robots Will not Help You Win

There is a huge industry in these “sure fire” trading systems and the sales copy tells you that you will get rich with no effort, all you do is pay a couple of hundred of dollars and a life long income will be yours. If this was as easy as this, the whole world would be trading and not working; these systems don’t work and that’s why there so cheap. If you want to win at forex trading understand this:

You need to make an effort and you need to learn skills, you don’t get rich without making an effort and that’s a fact.

2. Understand the Unique Skills You Need to Win

Forex trading is not hard to learn and anyone can learn a method that works; the hard part of forex trading is getting the mindset to execute your method with discipline.

If you listen to a lot of the self proclaimed experts online, you would think that losing periods happen to other traders and never last long but in forex trading, you will suffer losses and they can last for weeks! This doesn’t mean you can’t enjoy long term currency trading success, you can but you must learn to trade through these periods, keep losses small and execute your system with discipline.

Discipline is the key trait which separates winners from losers and if you can’t follow your system with discipline, you simply don’t have one. Discipline comes from a solid Forex education and knowing what your doing and having confidence in your system.

As you can see forex trading success is based on effort but in terms of the effort you have to make, no venture can reward you as much as global forex trading.

To trade to win in forex markets you need a sound and profitable forex trading strategy. Below you will find six questions, if you cant answer them correctly, you will join the losing majority so lets look at them

1. Do you understand and have confidence in the logic?

This may sound an odd question to ask but it’s a fact, that most traders don’t understand their forex trading strategy and will not have confidence in it when it hits a losing streak.

Why?

Because in most cases they are following a guru or mentor and have NOT developed the system themselves.

While developing a currency trading system is simple and anyone can do it, most traders fall for buying an e-book or trading system off the net for a few hundred dollars and expecting to win – GET REAL!

Most of the systems sold on the net are junk and if you think about it, the forex trader selling it wouldn’t have as they would be to busy making money to bother you with it!

The only way to do it is to learn a system yourself and be totally familiar with how and why it works. Not only will you avoid scams, from confidence comes discipline a vital component of currency trading success

2. Is it Objective or Subjective?

When you trade make sure your system comprises of objective rules and not patterns that require to much subjective judgement. For example Elliot wave theory and cycles mean you have to make subjective judgements – when you do this your emotions can get involved and that is a recipe for losses.

3. Does It Trade The Odds?

Do you try and predict if levels of support of resistance will hold and then hope they do?

For example, do you:

Buy just above support or a moving average or sell into a double top?

If you do then you will lose – as you are not trading the odds before issuing your trading signals. To trade the odds, you need to use confirming indicators, to give you clues to shifts in price momentum. If you predict you will lose, if you confirm your signals at critical levels you are trading the odds. and can win.

4. Is Your Trading System Simple?

By simple we mean a few simple rules (not 20 or 30) for executing a trading signal.

If your forex trading system includes a lot of indicators or rules, chances are it will lose, as it has more elements to break.

In currency trading your chances of success will increase dramatically if you keep your trading system simple.

5. Does it Work on ALL Markets?

If you constantly change the rules and parameters of forex trading strategy for different market conditions or different currencies it will fail.

Many traders back test and then tweak their systems to make them profitable. This is called “curve fitting” and means bending the system to fit the data – it doesn’t work.

We don’t have time in this article to go into all the dangers of curve fitting, so read our other articles, but if you want to avoid curve fitting your system should work with no tweaks or optimization.

6. Does it have specific Money Management System?

We don’t mean just placing a stop, that’s easy – but how to lock in profits with trailing stops on open positions and using profit targets.

Most forex traders simply think money management (after placing an initial stop) takes care of itself in a forex trading strategy – it doesn’t.

The difference between success and failure is thin and money management that maximizes gains can be the difference between you winning or losing.

7. Why Do You Believe You Will Win?

So why should your forex trading strategy win while 90% of forex traders lose?

If you cant answer this question quickly and with confidence, say goodbye to your equity and get back to your forex education!

If you are an experienced forex trader or just learning or even thinking about becoming a forex trader there is one book you must read, This book is not about the forex specifically but is still one of the best forex books available. The book was written about trading the stock market but it applies to forex trading just the same.

This book is called Trading in the Zone by Mark Douglas. In this book Mark goes deep into the main keys that separate successful traders from everyone else. Most traders are constantly looking for the one system, the one technique or strategy that will make their trading profitable. Some will spend years searching for this holy grail and in doing so they miss the one concept that will make their trading profitable.

This one concept that will make or break your trading career is you the trader. It’s not the system or the techniques it’s you. Your psychology and your resulting habits are the biggest factor that will determine the outcome of your trading. The trading decisions you make will be a result of your own psychological state. If you are not in the right psychological state your trading is going to be a direct reflection of that and like most traders you will likely lose money instead of make money with the forex.

That is the sad fact. Most forex traders do lose money in the long run. This is not because the forex is bad or the systems they are using are bad, it’s because the traders are not in a good psychological position to make the right trading decisions. This book will go in depth and teach you how to get your own emotions and psychology in the right place or “in the zone” to where your trading decisions will be positive.

Not only will this help your trading, also getting your mind right for trading will also help you in other areas in life like business, relationships and parenting. The struggles that traders go through can actually be a blessing in disguise. It’s struggles like these that motivate people to seek the type of information that’s in this book that will help them grow as people.

So if you want to become a better trader I highly suggest you read Trading in the Zone. Another way to greatly improve your trading is to use an automated program or robot to do your trading for you. The advantage of a robot is they don’t have emotions and a psychology to overcome. They already have the ability to do what this book will be teaching you to do. This is why some robots are making more profit than most manual traders do.

If you are not using a robot you should at least take a look at them. They can make a lot of money and you can learn a lot from them. I will post a link to the one I use below. It’s been producing very consistent profits and it doesn’t cost much.

Watch an automated program trade a live forex account.

If you’re in the market for forex automated trading software, there are a few things you should know and that you’ll want and need whichever product you purchase to have. There are several lemons which fall short on one, two or three of the following points. Test and make sure the product you decide on has the following three points before you make your purchase.