best forex trading robots reviews

If you are wondering if you can succeed at forex trading and don’t want to have the full risk involved with a full forex account but want something more challenging than a demo account, then forex brokers are offering an essential service you should consider. Let’s take a look at it.

Firstly, a demo account is of little or no use in proving that you have what it takes to make money in forex trading. The reason for this is there is one essential ingredient missing – the pressure of trading real money. Forex is a pressure game and that feeling is created by having real money at risk.

Today there is a new service offered by forex brokers called a protected account.

These accounts act as a bridge between a demo account and a full forex trading account.

Here are its salient features:

- You start with a small balance.

- You trade a set leverage for the duration of the account (even if you are in debit) which is normally a few weeks.

- At the end of the period any profits are yours to keep.

- If there is a loss then the broker covers it.

This means you get plenty of practice, you have a set risk and you have the incentive of knowing any profits made are yours to keep.

This gives you the experience of trading real money and limited risk.

These accounts will give you a far better chance of finding out if you have what it takes to succeed in forex trading, than a demo account.

A demo account is really only useful for learning the mechanics of trading and nothing else.

Keep in mind forex trading is not just about having a method – it’s about having the discipline to apply your method.

Its lack of discipline under pressure which causes the bulk of forex traders to lose.

Keep in mind if you don’t have the discipline to apply your method, you really have no method in the first place.

Forex brokers over the last few years have started to provide a lot of services to help traders maximize their trading experience and this service is a good one for all novice forex traders to consider.

A protected account gives a more authentic trading experience than a forex demo account and with limited risk, is an option all novice forex traders should consider.

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

Forex swing trading is easy to learn and apply and is an ideal method for novice traders to make money with – let’s look at the advantages.

Essentially you have 3 time frames you can target trends in and they are:

Forex day trading, swing trading and long term trend following and forex swing trading is the easiest for novice traders – so lets compare these 3 methods and see why.

1. Day Trading

More novice traders try this method than any other – but it doesn’t work at all!

All short term volatility is random, you can’t get the odds on your side and you can’t win – PERIOD.

For those of you who are still are thinking about it – try and find a track record that has made real profits (not simulated or hypothetical) and you won’t find one.

It’s a loser’s game, so don’t try it.

2. Forex Trend Following

This will give you the best profit potential if you can lock into the long term trends and hold them.

This looks a lot easier than it really is and requires tremendous discipline and discipline is a hard skill to learn.

1. You need to be patient.

You need to wait for the right opportunities and it requires discipline, to sit for weeks or months on end waiting for them.

Most traders want to be in trading and trend following simply only suits patient traders and most are not.

2. You need discipline to accept big gains!

This may sound easy as we all, want to make big gains but sitting on a big open gain while volatility eats into your gains is anything but and most novices snatch profits early – trend following is simply hard – sure you can learn it, but if you’re a novice trader swing trading is a great place to start here’s why:

3. Swing Trading

You can swing trade with just a few indicators and support and resistance and the advantages are:

1. It’s very simple to learn and apply. You can learn a swing trading system in a few days.

2. There are trades at least a few times a week, so for the trader who likes action they will see it quickly.

3. Trades are right or wrong quickly and the discipline and patience needed is less in this than in trend following.

Its very easy to do – you are trading for periods of 2 days to a week or so and its easy to master the mindset to do it to and while the profits maybe smaller per trade than trend following, you can make huge profits over time if you have a logical robust system.

A Basic Swing Trading System

A swing trading system is easy to build and a good one would be based upon trading into support and resistance.

You then use momentum oscillators to confirm the trade and price direction is with your trading signal and finally, always have a target no trailing stops – hit the trades, hit target and bank them.

Stop losses in association with support and resistance are obvious and finally, incorporate breakouts in your swing trading strategy for greater profit potential.

Forex swing trading is easy to learn, easy to apply and can be profitable and fun – discover it and see for yourself.

Here as part of your forex education are 10 common reasons new traders get wiped out. Make any of these mistakes and you will lose too. so avoid these common mistakes…

1. Buying a Forex Robot With a Simulated Track Record

If you want to win ignore the vast number of forex robots – they cost very little, promise a lot and wipe you out. There gains are all simulated going backwards knowing the data and this does not help going forward!

2. Day Trading and Scalping Systems

Day trading doesn’t work as all volatility is random and you can’t win. If anyone shows you a track record where they have won, it’s normally just a simulation. Don’t fall for the hype of day trading.

This applies to both points 1 and 2, there is no expert who can give you success, as success comes from within and having confidence in what you are doing.

3. Using to Much Leverage

You can get 200 or even 400:1, in terms of leverage but to use all of this is madness on a small account. Use maybe 10 – 20:1 – that is enough for most traders.

Leverage up to much and Volatility will get you.

4. Starting with a small amount

You get traders starting with $50 – 100, this is not really an investment at these levels, it’s a gamble. Look to start with $500 -1000 minimum and preferably $5,000.

5. Believing You can Trade With low Risk

If you believe many people online, you would think you can trade with the odd loss here and there – but you can’t! You will face many consecutive losses and they can last for weeks on end ( this happens to the best traders ) and you need to have the confidence and discipline, to take them until you hit a home run.

6. Predicting Market tops and Bottoms

Try and predict and you are hoping and guessing and your prediction will be as accurate as your horoscope. You can’t predict in advance, so don’t try, trade the reality of price change only.

7. Trading News

Those stories on CNN, CNBC and on all the other news channels are great stories but that’s all they are stories and opinions. They reflect the majority who lose, follow them and you will lose to.

8. Trading to Much

You understandably want to be in on the action but most traders’ trade to much and end up trading all the time – this will wipe you out, so have patience.

9. Trying to be to complicated

While some traders don’t do any preparation and learn the basics and lose another major set think that being complicated and putting in effort means success – it doesn’t. Forex trading is simple and you need to have a simple system and the discipline to apply it and that’s all.

Make a system to complicated and it will break, in the brutal world of trading .

10. Know Your Trading Edge

You need to know what your trading edge is. Specifically, the reason you will win while the vast majority 95% lose and you need to have the confidence to apply it with discipline for success. If you don’t know what your edge is, you don’t have one and you need to continue your forex trading education until you do.

You can win at forex trading but you need to do the basics and get a simple system with an edge you can apply for huge gains. If you do this, then currency trading success can be yours.

If you want to win at Forex trading you need to get the right Forex education from the start or you will lose. Here we will give some essential facts you need to know to avoid the mistakes of the losing majority…

Let’s start with the fact that 95% of traders lose money and that’s a huge percentage however the good news is anyone can learn to trade successfully.

To win at Forex trading, you need to understand certain facts which relate to both your method and mindset and here they are:

1. You Don’t Get Rich Following Forex Robots

Most of these are sold for a couple of hundred dollars and the vendor tells you that you will make an income for life with no effort. The claims in most instances laughable but people believe the claims and lose their money.

Before you buy a system think about it; an income for life for a couple of hundred dollars, to good to be true? Of course it is! Avoid these systems or lose.

2. You Can Predict Markets with Science

This is just ridiculous because if such a theory did exist, there would be no market, as we would all know the price ahead of time. Predicting is hoping or guessing and your predictions will end up as accurate as your horoscope.

Trade the reality of price change only and leave prediction to the far out crowd and losers.

3. Complex Theories are Better than Simple Ones

The reverse is actually true; as markets move to probabilities not certainties, a simple system will be more robust and have fewer elements to break. Never fall for the complicated mathematical system will beat the market it can’t.

Always remember simple is best!

4. You Wont Face Losses

If you were to believe a lot of so called experts, you would think drawdowns are small and last a day or two – but the fact is even the best traders lose for weeks and drawdown is related to risk.

You need to be prepared for a drawdown of 30 – 50% at some point and expect it to last for weeks not days. Sure you can still win but you must ride these losing periods out and that requires the next trait – discipline.

5. Discipline the key to Forex Success

Discipline is the ability to keep your emotions out of your trading and keep your losses small. Most traders simply cannot do this, as they lack confidence and courage to stick to their plan but it’s the key element you need to succeed.
If you can’t trade your system with discipline you don’t have one.

The Road to Forex Success

Is open to anyone and anyone can learn a method which can make money; if this is combined with the correct mindset to apply the system, currency trading success will follow.

Always remember learning a trading system is easy, executing it is the harder part – but if you understand this, you can see that if you get the right Forex education and adopt the right mindset, you can win and make big gains long term trading Forex.

Here we are going to look at becoming a successful forex trader in just 2 weeks by showing you how to work smart NOT hard, to achieve success and enter the elite 5% of traders who have successful forex trading strategies.

Before we look at devising your forex trading strategy lets start with an inspiring story:

Over 20 years ago trading legend Richard Dennis set about proving anyone can learn to trade. He took and taught a group of people with no experience and after 14 days he let them trade.

The result?

They made Dennis $100 million and went on to become some of the most famous traders ever.

Now were not saying you are going to become as rich as the turtles but Dennis taught them only what they needed to know to win – no filler, just the facts they needed.

That’s what you need to do to. Forget all the gurus and mentors trying to sell you short cut junk systems and understand this – if you want to win you need to get the right information and do it on your own.

Only you can give yourself currency trading success

So let’s get started and look at what you need to do.

The Basics

You need to learn the basics and this is easy the net has loads of good free information on how to trade, execute trading signals etc so spend a few days reading up on them.

Your Forex Trading System

You need to decide if you want to be a fundamental or technical trader and by far the easiest way is to be a technical trader and use forex charts.

Can you read and spot patterns on a graph?

Then you can use forex charts, you just need to know what formations to spot.

Building Your Forex Trading Strategy

The best way to start is with a complete understanding of support and resistance and base your method on a breakout methodology (we don’t have time to discuss it fully here) but look it up.

Trading breakouts is a timeless way to make money – the turtles did it and most of the worlds top traders do it and so should you – you’re in good company!

You need to get some indicators together to confirm price momentum to enter your traders, so learn about price momentum indicators and also market volatility and standard deviation.

You can then use some tools that help you confirm:

Look up stochastic RSI and ADX.

And for volatility:

Look no further than the Bollinger band.

Well that’s all easy enough – now for the hard part.

Forex trading is relatively simple yet few succeed and this is not down so much to learning a method – that’s easy.

You can easily learn and digest what we have asked you to look at above in a few days – the hard part is applying your method with discipline.

If you can’t apply your method with discipline you really have no method at all.

Trading is probably 30% method 70% mindset.

Its emotions that kill 95% of traders so you need to build a framework to keep your emotions in check and maximize you’re trading profits

You need to be disciplined in money management and this means:

Taking risks when the time is right, holding profits and maximizing them and finally liquidating losers quickly.

This is vital to turn your method into a profitable forex trading system and we will cover – Discipline and money management and risk, in part 2 of this article series.

There are a lot of online advertising materials that promote forex trading as an easy way to make millions in profits. Especially in these times of financial distress, not a few people are being lured into the business of forex options trading and currency trading with the promise of earning big bucks by making a successful trades. What is not made clear upfront is the amount of understanding and analysis that goes into making successful decisions. Whoever said that making money out of forex trading is an absolute guarantee is scamming.

There is much money to be made in forex options trading and currency trading, that is true. But not without making the right trading decisions made based on market information and an astute analysis of how the market is moving.

Any novice forex trader can benefit from going through forex schooling before actually dipping his toes, or for the more aggressive, plunging into the ocean that is the forex options trading and currency trading market. There are a number of basic concepts that need to be learned before one can actually swim in the forex market and stay in the market without drowning in its dips and waves. Perhaps the best way to learn is not necessarily taking in as much forex information in one sitting, but more importantly taking in the right forex information at the right sequence for maximum understanding.

This philosophy of graduated learning is employed at the School of Pipsology where novice forex traders are taken through the basics of forex trading from one grade level to the next. The elementary levels cover most of the information needed to acquire the skills and knowledge to fully understand the forex options trading and currency trading market. Completing the elementary levels will equip the novice trader with the tools he needs to further develop his abilities in making profitable decisions.

If you are new to online FOREX trading you will realize that 95% of traders lose and lose quickly.

To win at currency trading you need the right FOREX strategy – incorporate the following 10 tips and you will get a head start in your quest for consistent FX profits

1. Don’t believe the hype

You will read a lot of information on how easy FOREX Trading is and how you can buy an e-book for $100 and become rich – this is not the reality.

While there is some good advice out their – you can get all the information you need free on the net.

If you want to read about the top traders of all time and get advice from traders who have walked the walk -rather than just talk the talk, go to Amazon and pick up some books from the top traders of all time.

2. Don’t day trade

The biggest myth of FOREX trading is you can make money FOREX day trading.

You can’t!

Many novice traders fall for this myth and lose quickly.

All short term volatility is random and there is no way of predicting where prices may go, so you may as well flip a coin.

If you want proof that FOREX day trading systems don’t work ask a vendor for a track record of real time profits over the long term and you won’t get one – PERIOD.

3. Work smart not hard

You don’t need to work hard in FOREX Trading, you need to work smart.

This means focusing on the RIGHT FOREX education and learning FOREX tools that work.

You can easily learn to trade FOREX markets in a couple of weeks.

You just need to focus on the right information.

You don’t get rewarded in FOREX trading for working hard, you get rewarded for being right and that means working smart.

4. Risk = Reward

If you don’t like risk forget currency trading and do something else.

Many traders simply want to avoid risk as much as possible, putting stops to close, or snatching profits.

If that’s you – you will NEVER achieve currency trading success.

You need to cheerfully accept risk and loses to succeed in online FOREX Trading.

5. Do It on your own

Only you can give your self success.

You need to be confident in your ability to succeed and if you are, you will have the discipline to apply your method for long term gains.

If you follow someone else you will not have the right mindset to succeed.

You will lack discipline and will throw in the towel as soon as a string of losses occur.

Do it yourself and your chances of success are enhanced.

6. Get a simple method

Simple methods work better than complicated ones, as they are more robust with fewer elements to break in the face of ever changing market conditions.

There is no correlation between how complicated a system is and how much money it will make.

If you are starting out in currency trading, use support and resistance, a breakout methodology and some confirming indicators and that’s it.

The above way of trading is perfect and will help you get the big profits from the big moves.

7. Trade Breakouts

A timeless way to trade FOREX markets.

It works and will continue to work, simply read out other articles for more info on this simple but powerful methodology.

8. Be patient

You don’t get rewarded for how often you trade online FOREX – You get rewarded for spotting and acting on the best trades and these don’t come around every day.

Be patient and only trade FOREX signals from your system – don’t be tempted to trade for the sake of trading.

9. Be realistic

You can make a lot of money in FOREX Trading so what’s realistic?

The top traders compound 50 – 100% per annum so this is a good number to aim for.

These gains will compound quickly and build real wealth longer term.

Be realistic and don’t try to get rich over night

10. Know your edge

If you understand the other 9 points, you will understand that you need an edge to make money longer term in online FOREX markets.

If after you have devised your FOREX trading strategy you don’t know what your edge is – you don’t have one!

You need to know what your edge is over the majority of losing traders to win.

Final words

If you incorporate the above 10 tips into your online FOREX Trading plan, you will be well on your way to making money in the worlds most exciting investment market.

Welcome to the world of FOREX trading!

If you are a novice trader perhaps the easiest forex trading strategy to use is a swing trading strategy as it overcomes two problems that most novice traders face but cant overcome.

By using a swing trading strategy not only can you overcome these problems, you can give yourself a great chance of currency trading success.

Let’s look at this forex trading strategy in more detail

1. Patience

Most novice traders lack patience and they think the more they trade the better.

Most go for forex day trading which is probably the best way to lose money you can get – day trading simply does and cannot work, due to the fact all short term volatility is random.

You can never get the odds in your favour and you can never win – PERIOD.

Other traders however lack patience when long term forex trend following – they simply cannot accept the profits it wants to give them!

We all want profits – but when you sit on a long term trade and see open equity dips of thousands of dollars the temptation to take it is huge and most novice traders bank profits far to soon.

If you are forex trend following you need to take a bit more risk and that means hanging on for longer term gains.

Most traders simply don’t have the patience and discipline to do this and it’s hard even for pro traders.

Swing trading when incorporated in a forex trading strategy overcomes the problem.

You are looking at making profits in periods of 3 days to a few weeks, so you are never holding a position for long periods, and there are plenty of opportunities to keep the trader interested and finally, stop loss protection can be tight keeping risk low.

Forex swing trading is easier than long term trend following as you don’t have to be so patient, it’s easy to maintain discipline, which is the key to big forex gains.

2. Swing Trading is simple

Swing trading tends to be quite simple to learn.

All you need to do is look at support and resistance and use some momentum indicators to time your trades.

One or two timing indicators are all you need to judge price momentum as it moves into test support and resistance and your all set to swing trade.

Being simple to understand is a big advantage, because from understanding comes confidence and from confidence, flows discipline – the key to successful trading is having the disipline to foloow your plan through periods of losses and is a trait all succesful traders have.

So if you want to trade currencies then try swing trading its simple, easy on the mind and can be very profitable.

Consider it as part of your forex trading strategy and let it help lead you to the currency trading success you desire.

It’s a fact 95% of Forex traders lose money trading and while anyone can learn to trade and make great profits, the novice trader makes a fatal mistake which is enclosed and should be part of any novice traders Forex education…

Forex trading is different in terms of the skills you need to make money in Forex to the skills you need in everyday life. Some explanation will make this clearer.

Let’s look at the fatal mistakes novice traders make.

1. Consulting an Expert Will Bring You Success

Most people who claim to be experts are not. You have seen them, the $100 buck robots and sure fire courses, offering you an income with no effort and guess what? They all fail.

In normal life we are taught to consult an expert, to fix your car or a burst pipe and they can give you a guaranteed result. This is not so in Forex, as your not dealing with certainties and mathematical formulas. In Forex you deal with the odds and your best off to get the right Forex education and do it on your own.

2. Hard Work will Give you a Reward

This is actually good news!

You can learn Forex trading in a few weeks and soon be making big profits but for this you work smart not hard. Avoid the myths, and making huge effort and expecting a result that may work in a 9 – 5 job but not Forex. Simply learn the right way and cut your work load. All you need is a simple system and the mindset to succeed which is covered in the next point.

3. Being Clever is an Advantage

A huge myth you would think the best group of traders had a background in mathematics or something else complex but the most successful group are actually ex poker players! Why?

Because they know that a simple plan, playing the odds is the way to win which leads me onto the next point. Simple systems work best and always have and that a fact, make a system to complicated and it will have too many elements to break.

4. Mindset is More important than Method

Yes it is! – Because you have to apply any method with discipline and even the best Forex trading system, will fail unless you do. Most traders cannot trade through periods of losses and keep them small, all systems have them and you must get through them.

You don’t just get discipline though without effort, it’s based on education and confidence in what you have learned. If you want to win, you need to stay on track through losing periods until you hit a home run.

If you can’t trade your system with discipline you don’t have a system! Trading discipline is the big variable between success and failure.

The Real Way to Make Big Gains and You Can Do It!

Forex trading success is open to all but many try and apply the wrong logic as we have seen and you will lose.

If you want to win all you need to do is get the right Forex education and have the discipline to apply what you have learned. It sounds simple and it is – but most traders simply won’t do it. They don’t get the right education and or they are simply lazy and want to follow others.

If you understand the message of this article, you can win and generate a great second or even life changing income.