best forex trading robots reviews

Every trader that has learnt or tried forex trading for a while will find a bunch of forex trading strategies that can be used. Each of it has its own advantages and disadvantages, ask for different data and condition, and will show its true potential in particular currency pair.

Basically, forex trading strategies can be divided into two major:

1. Technical analysis
This strategy is utilizing data as its main information source, especially charts to predict the future market movement. There are various methods to read this data such as candlestick charting or Elliot wave, but basically they search for patterns in the chart for a given time and looking for relationships between various indicators such as price and volume.

This strategy is preferred by most traders and they use it in daily basis to decide the best transaction available currently. Usually, each trader has their own way to interpret the data by using various variables and designed specifically for a particular market he is in. That?s why even when everybody gets the same accurate data, only the one with the right method can convert it into profits.

2. Fundamental analysis
This strategy relies on various economy factors such as overall state of economy, interest rates, production, earnings, and management. For example: some news such as Non Farm Payroll or Wholesale Inventories can affect the market greatly. If you can analyze the market movement before the news out, you can secure your position and wait for the profit.

On some occasions, there are important meeting holds by certain persons who have high influence in the state of economy. For example, a meeting about deciding a new interest rate or inflation will have great impact in the currency values. Usually it will be already too late to enter the market when the result has been announced, so you have to use the current data to analyze and guess the result before.

Not only short term trading, fundamental analysis can also be used as a long term forex trading strategies. This is rather complex, but basically you predict the future trends of the market based on how the new policy will affect the market in long run.

There are also other methods in forex trading strategies aside from technical and fundamental analysis such as Scalping.

Scalping
The aim of scalping is making a series of continuous small profits where those profits will be accumulated as big profit at the end of the day. It requires the trader to spend most of his time watching his open positions, but it can be easier by using automated trading software. For example: When a trader who using scalping strategy sees a sharp movement in the market, he will use the opportunity to make profits even if it just 10 pips.

Scalping is not a method that can be used by any trader, it requires patience and no emotion involved. A scalper will follow his proven strategy even if he sees opportunity to gain more; he will close the position, get small profit and move to the other potential transaction.

If forex trading is a new thing for you and you are still searching for applicable forex tradings strategies, I recommend learning technical analysis first since it is the foundation of almost all strategies.

Most traders ignore the Forex trading strategy enclosed but don’t let that bother you the bulk of Forex traders lose but many of the world’s top traders use and you can too – it works and will always make big Forex profits, so lets take a look at it.

Most Forex traders think that to win they need to predict where Forex prices are going yo go but this is really just hoping or guessing and they all lose. There has been a huge rise, in cheap predictive Forex software being sold as well which promises you, the software can predict prices in advance but the only thing you can predict with cheap software, is your going to lose!

The pro trader knows, that to win at Forex trading, you don’t need to predict to win and if you trade the reality of price change, you will have the odds on your side and can make a lot of money.

Look at a Forex chart and you will see two facts, about Forex price movement which have remained constant since trading began and they are:

Forex markets trend for long periods, of many weeks or even longer and all these big trends, start and continue, from breakouts to new highs on a price chart.

So if you want to get in on all the best trends and profits, all you need to do is buy high odds breakouts to new highs, in a bullish currency and hold the trend.

Sounds simple doesn’t it? Most traders can’t do it though, when a break occurs, they want to wait for a pullback to get in at a lower or what they consider is a better price but a quick glance, at any good breakout shows that prices don’t come back, they carry on piling up huge profits, for the savvy trader who bought the breakout while, the losing trader never gets on board.

When trading breakouts, you need to look for levels that have been tested several times before the break and in breakout trading, the more tests you have and the wider they are spaced apart in time, the higher the odds of a continuation of the trend.

I like at least six tests or double figure tests, before the break as this means, the odds are at their highest in terms of the break continuing. Stop loss protection is easy, just below the level that has broken, so risk is low and if it’s a good break the rewards are high.

Forex breakout trading is a simple strategy but all the best Forex trading strategies are simple and if you trade high odds breakouts, you will soon be on the road to a triple digit, annual income in around 30 minutes a day or even less.

The forex markets are reputed to give instant profits to traders. However, many amateur traders fail to cash in on this potential and usually quit the market after getting frustrated. One of the major reasons why amateur traders fail in forex markets is the complexity of the method that they choose for trading.

Whatever research amateur traders do while choosing a trading method is almost always based on a gut feeling rather than on important aspects that actually make your profits run. It is important to note that methods for trading in forex markets must necessarily include risk management, discipline and psychology.

The gut feeling that induces amateur traders to buy training products is usually due to hyperbole used in promotion materials of training courses. They use phrases like ?jaw dropping secrets of forex markets revealed? or ?unlock the mysteries of Forex trading.? More often than not, the reality dawns upon them soon after they have purchased the course and they find that they had already heard about the method before.

Some amateurs will look for a complicated formula under the impression that anything that gives you instant profits cannot be simple. To their disappointment they find that the formula is actually so simple that they could have thought of it on their own.

The basic why amateurs fail to succeed in forex markets is thus not devoting time or ignoring to learn the full process of trading.

If you are an amateur looking for a method for trading forex then do not make that mistake. Most trading methods available are not complicated but a simple set of rules woven together in an easy manner that are applied in an uncommon way. Complex systems are for banks and obsessive computer enthusiasts. Remember the basic fact of learning: if you cannot understand it, you cannot possibly apply it.

Never ever skip through the learning process. Make sure that you learn the rules of the game: when to set up a trade, the price at which to enter and when to exit. Any program that does not teach you when to exit is not worth it. Neither is the one that does not show you how to protect and manage risk in the trade.

You need to learn how to apply your method in a timely manner, hourly, daily or weekly. You can become a better trader only if you are able to learn how the various aspects of forex trading work in tandem with each other.

Getting an edge in the markets is not complex methods but simple and powerful methods that use only a few indicators.

One of the basics of your forex education is deciding the time span you want to trade in. Sure there are forex trends – but they occur in short, medium and long term time spans but which of these are the best to catch for bigger profits – let’s find out.

Forex Day Trading and Scalping

By far the most popular way of trading for novice traders but it’s doomed to long term failure – Why?

Because all short term volatility is random and support and resistance levels are not valid you can’t get the odds in your favour longer term and you will lose.

Think about it:

Countless millions of traders are trading all with different aims, objectives and skills and to say you can tell what they are going to do in short time spans is rubbish.

You will see a lot forex scalping and day trading systems sold that claim to make money but check the track record and it will say simulated in hindsight and we can all do that!

If you want to learn currency trading, the first thing you need to do is forget day trading.

Forex Swing Trading

Swing trading catches moves that last for a few days to around a week and it’s very popular and can be profitable.

This is a great way for novices to start trading because it’s exciting, fun and requires very little mental discipline. Profits and losses come quickly and there is plenty of action – you know if you are right or wrong quickly and you can put together a forex swing trading system quickly that is robust and will make you money.

If you like action and are not patient then this is the method for you.

Forex Trend Following

The longer term trends last for weeks, months or years and if you can catch them you can pile up huge gains but be warned you need to be patient to catch the right opportunities and you need discipline and the courage to accept big gains.

If you have the traits of discipline and patience this method can be the most rewarding of all but most traders can’t do it.

Why?

Because when they get a profit they get excited and the bigger it gets the more they want to bank it before it gets away. Of course, a trend doesn’t just go one way and there are plenty of pullbacks that eat into open profit and watching your equity dip short term by thousands of dollars can be very hard! In the end most traders simply cannot hang on and bank a marginal profit where they could have had a huge one.

Keep in Mind.

You can choose forex swing trading or long term trend following or of course you can mix them both, so think carefully which one suits your personality, before incorporating it into your forex trading strategy.

You can’t get the odds in your favour with a forex trading system that trades short term so don’t even try it. You need to trade the odds so choose long term forex trends and go for them or swing trade – both work and can bring you currency trading success – Good luck

It always amuses me, when traders buy Forex robots for a hundred dollars or so and thinking they will get rich with them – but none of them work as they have never been traded in real time and are simply back tested simulations. The 2 Free Forex trading strategies we will look here, have made hundreds of millions in real time profits, lets take a look at them in more detail.

The systems we will look at have worked for over 25 years and unlike the popular Forex Robots you see for sale online, these systems are from trading legends not just programmers, these systems work in real time, not just in back tested simulations.

The first free Forex trading strategy we we will look at is “The 4 Week Rule” which was devised by the grandfather of modern trend following Richard Donchian. We have written in detail on this strategy, in other articles but in summary, its a one rule, trend following system which is based on breakout trading. While incredibly simple it works and always remember, the best trading systems are simple, as they have fewer elements to break than complex ones.

If you apply the 4 Week rule correctly, you can make some great long term Forex profits with a system that has stood the test of time.

The next strategy we will look at which you can get for free, comes from Richard Dennis, who incidentally, was also a fan of the 4 Week Rule; His strategy was based on the same logic, trading long term trends via breakouts and it made huge profits. The rules he devised, were used by a group of novice traders to show that anyone, with the right education and system, could win at Forex. Dennis was proved right and in just two years, his group of novices made $200 million real time dollars with it!

The system rules are available free and if you look at the strategy it has all the elements a good strategy has and I personally think, any traders should look at it for the money management rules which are a great example of how to preserve equity. The system is less effective today than when it was first used, as markets have become more volatile but for showing you the basics a good strategy needs to succeed its a great system to look at.

Two simple systems, by true trading legends you can learn from and there both free! Look them up and make them part of your essential Forex trading education and if you learn from them, they will help you enjoy currency trading success.

There is no assurance for accomplishment where productive is concerned.

Trading forex robot is a software program that automatically enters and exits trades in the forex market with the intention of turning a profit. Many traders witch to these systems because they are tired of the hassle of manual trading. When trading manually you have to spend countless hours each day monitoring the market, and you also have to spend countless hours staying up to date on your current trades. A trading forex robot takes the hassle of out having to do this, but still allows you to take advantage of the income potential of the forex market.

I would like to show you which robot is the best, but before that we should look at why this robot is the best.

Many forex robots only come with one way to trade. They follow one specific set of rules, no matter how the market conditions are, and they are designed to trade very currency pair. This is a big problem because the market is constantly changing from day to day, and every currency pair is traded differently. The best trading forex robot is different, it constantly receives updates from forex experts who are monitoring the forex market 24/7.

Also with this robot, you are getting four robots in one. It installs as one robot, but there are four different sets of rules within the system that trade four different major currency pairs. This approach, in combination with the frequent updates, is making this forex robot one of the most profitable to ever hit the market.

Another aspect of using this wonderful robot on a positive tone is its connection to a reputed forex broker who should ensure that they understand the market thoroughly. It is always true that if you pay more or pay reasonable, you will get a better product. Therefore, a trader should go for something, which is not the cheapest, and before using one must test the result through dummy accounts to see the positive results and choose accordingly.

Automated trading ensures better and positive results without the help of human brain and hence the above-mentioned ways will help a trader to make more money in a smart and efficient way.

The best forex robot is the Ivybot. You can get a detailed review of this robot and see how it stacks up against the competition at Daily Forex Information.

If you are looking for a simple Forex trading strategy which works you will like the one enclosed which is the choice of the professional trader yet, very few new traders use it but don’t let that concern you to much most traders lose money. Let’s look at this powerful Forex trading strategy and show you how and why it works.

The aim of any Forex trading system is to get the odds on your side and trade high odds set ups and our strategy does just that, as it will get you in on all the biggest trends and profits. If you look at any Forex graph, you will see long term trends but do you know, how they all start and continue?

All the biggest bullish market trends, start by breaking out to new chart highs and as the trend evolves, the currency continue to break through to new market highs. Look at any currency pair you like and you will see this is true – so the way to trade with the odds on your side and get in on the best trends, is to trade high odds breakouts.

So why do most traders simply not do this?

The problem most traders have is they don’t understand that Forex markets cannot be predicted but they try and predict in advance where a currency may go and this leads to disaster. They want to get in at the low, so they try and buy into support. The problem with this method is – they are hoping the support level will hold and that is not a great way to make money in Forex! As the old traders saying goes:

“A bottom picker becomes a cotton picker” and these traders all end up wiping themselves out.

The smart trader doesn’t predict, he waits for confirmation via a breakout above resistance; he simply takes the trading signal on the break, as a new high is made and he is then in a trade with the odds on his side; if the breakout is a good one there will be triple digit profits ahead and that’s what all traders want to achieve! So what is the definition of a good breakout?

A good breakout is one, where resistance has been tested and held a few times in the past and held. You should look for a lot of tests and in time frames, that are at least a few weeks or longer apart. The more times the resistance level has been tested and the wider the tests are spaced apart in terms of time, the higher the odds are and of a trend developing in the direction of the break.

Once the level gives way, stops are triggered and fresh buying comes in which sees the currency move, with accelerated momentum away from the breakout point.

This strategy is simple, you can use just look at levels of resistance and add a few momentum indicators, if you wish to help time your trades better and you then have a simple Forex trading strategy which can make you huge gains. All the best strategies are simple and robust and breakout trading, is a very powerful method, anyone can use to seek long term Forex trading success.

Many novice forex traders want to learn forex day trading online and scalp small regular profits to build into big consistent profits over the long term this is article is all about forex scalping and day trading success…

If you are considering learning forex day trading online then think again it will lose you money! Why?

Because you cannot judge where prices will go in the short term and will lose all your money over time.

The Myth of Forex Scalping and Day Trading Profits

Of course there are plenty of forex mentors and gurus who try and sell you forex systems all with great track records and they all have a problem – they all carry this warning, read it:

“CFTC RULE 4.41 – Hypothetical or simulated performance results have certain limitations. Unlike an actual performance record, simulated results do not represent actual trading. Also, since the trades have not been executed, the results may have under-or-over compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profit or losses similar to those shown”.

If you have read the above you will see why these forex day trading strategies are unlikely to work for you.

- They haven’t been traded and are just made up!

- Anyone can make money knowing the closing prices but that’s not the real world

- You could ask yourself the question – why if the systems are so good why the sellers don’t trade them, shut up, keep quite and not bother you for a few hundred bucks!

Well you know the answer these systems are designed to be sold and rely on traders not reading the warning to closely and falling for clever marketing copy.

Try and find one without the above disclaimer and your in for a long hard search I have never seen one with a proper real time track record supported by account statements and neither will you and if you do let me know!

Forex day trading looks good in theory – but is doomed in practice ask yourself this question:

You have a huge number of traders who all contribute to the price and who have different motivations, skills and methods of trading and you have to decide what this unpredictable mass is going top do in a few hours.

Its impossible to do so don’t bother trying!

95% of forex day traders lose (100% in respect of day traders) and it’s hard to make money but it’s possible if you put the odds on your side and this means looking at longer term data where you can get the odds on your side.

If you want to win you must use valid data that can help you predict the odds – if you can’t play the odds you can’t win, it really is that simple.

Learn Forex Day Trading Online is a loser’s game so don’t even try it unless of course you want to lose all your money!

Do you have a good money management rule in your forex trading? Many traders think that money management in forex trading is just by putting a stop loss and a target profit, that’s all. This is far from true because that is only part of a forex trading system. Let’s look at some forex tips on how you can triple your forex trading profits.

1. Always prepare for the worst, think how to protect your trade first!

Almost all the traders will think how much money or profits they are going to make when they trade. This is a wrong mindset. If you are a beginner in forex trading, then you should assume the worst first and not thinking about profits in the first place. You should be very eager to protect your trade from losses by shifting it to break even after your trade has around more than 40 pips in profits. The trade is also considered won even it has broke even.

2. Don’t take high leverage for granted.

Many forex brokers offer a high leverage of 100:1 to 400:1. True it is very tempting, but you should not use very high leverage for a beginning and for a small forex account, it is not advisable to use more than 50:1 or 100:1, so as to prevent your account from going bust. Traders thought they can win big using high leverage, but what if they loose? Their trading capital goes into the drain too.

3. Not risking more than 1% to 5% of your trading account.

This is a very important money management rule. How much do you risk for every trade? Forex trading is all about high probability and calculated risk. If you think you can’t take risk at all, then you shouldn’t be learning to trade forex at all. For a small $1000 account, it may seems by risking 1%, the gains are very small too, but that’s the right way to build your capital. For me, I’m a conservative trader and I risk only 2% of my trading account per trade.