best forex trading robots reviews

If you can’t answer the question I am going to pose in this article you will probably lose all your money when you trade. The question though is one that very few novice traders consider or think about so here it is:

What is your trading edge?

THIS MEANS:

Why will you win when 95% of traders lose all their money quickly?

What separates you out from the majority of losers and means you are going to succeed?

If the answer is – I have bought a system for a couple of hundred bucks, or I like to trade off the news or on recommendations of others – kiss goodbye to your equity.

The fact is most traders in forex do not get decent Forex education!

They think it’s easy to win and believe the hype they read, or treat it as gambling and the market takes their equity.

A trading edge is the edge you have over the losing majority – for example, if I was to describe my trading edge it would be:

My use of sentiment and momentum indicators, to isolate high probability contrary trades and the ability to load these trades and remain disciplined.

I know I am good at hitting these trades and have a track record of doing it over 15 years. This is not meant to sound arrogant, it’s what makes me a good trader and I know it and you must get one to, if you want to win.

Know Your Edge and Know Yourself

Now your edge might be something different but that’s not the important point – the most important thing is you have an edge you have worked on and you know it gives you a head start on the majority.

An edge is something that comes from within and is a combination of method and the mindset, to make it work with discipline in the markets.

NO FREE LUNCH TODAY

Or any day in the Forex markets – it’s a brutal world where only the strong survive and you can only rely on yourself no one else can help you – you’re all on your own.

If you don’t like the above and like to blame everyone else for your losses – from your system, to your broker, do yourself a favour and don’t trade Forex – it’s not for you.

If you are ready to stand alone apply yourself and get the right knowledge, you can acquire the correct Forex education, get an edge and win.

I have found that when the US indexes (NASDAQ, DOW, S&P 500) gain (or lose) so does the Euro as part of the EUR/USD pair. There is a positive correlation. Why does this occur? I had the thought that as risk becomes less popular and people sell their stocks they put the money into treasury bonds, possibly driving up the USD. Does anyone know for certain what drives this phenomenon? Best answer points available for good concise information. Thank you.

As part of their forex education most new traders consider buying an e-book from a vendor and if you are one of them you need to ask one question:

How qualified are they?

Sure the advertising looks enticing but can you learn forex trading from them and can they give you currency trading success?

If you want to find out ask one simple question and it is:

Can I see your audited real time track record over the long term of 2 – 3 years?

Chances are you won’t get it.

Why because most e-book sellers simply rely on making claims (with no substantiation) and they normally only give you a hypothetical track record – let’s define what this is:

Its simulated and hypothetical and done KNOWING the closing prices – Well that’s not difficult but when you trade there is a problem:

You have to trade not knowing the closing prices!

The fact is most of these vendors are NOT trading the system they are making money selling it to you and in the vast majority of cases help you.

In fact you can get most of the information free on the net, or it’s based around logic that simply doesn’t work.

If you want to pay money for your forex education, then pay it to a trader who has walked the walk, rather than simply talks the talk.

This means going to amazon.com or your local bookstore, here you will find a wealth of forex education that is worth the money, from some of the top traders of all time.

We have written articles on some of the best books so look them up.

If you want to learn to trade, make sure the person giving the forex advice has been in the trenches and done it themselves – if they haven’t made money with their forex trading system, what chance have you got?

Keep in mind this fact: 95% of forex traders lose and 5% win.

I would be surprised if any of the 5% did it buying an e-book without a track record.

Forex trading looks easy but few succeed – that doesn’t mean you cant win, you can but be realistic about what it takes to succeed and achieve long term currency success.

Your forex education must help you answer the question below correctly. If you can’t answer the question below – then don’t trade forex as you will lose.

The question is:

What is your trading edge ( defined)?

A trading edge to clarify is something that will help you win, when 95% of traders lose and enable you to join the 5% of winners.

Below we have listed some common beliefs which many forex traders hold that are NOT a trading edge and simply see traders lose.

- I Follow an expert as he knows best.

- I have bought a trading system from a vendor with a simulated track record.

- Day trading is a great way to make money.

- I use a predictive scientific theory as markets are scientific.

- I Like to predict the big moves in advance.

- Buy low sell high is a great way to make money.

- I don’t have money management rules I Just place a stop.

- I have a lot of knowledge and learn more all the time to win.

If you hold any of the above beliefs – you will lose.

So what should your trading edge consist of?

It doesn’t really matter – so long as you know what it is, you have confidence that it can make you money and is based on sound logic. It’s personal to you – but must be in line with the following equation.

Logical Forex Method + Understanding Logic = Confidence = Discipline to apply it = forex success.

Lets start with – it must be logical and all the beliefs we listed above are myths and not logical.

You must of course understand how your method works, not just follow a mentor or guru because – if you don’t understand your method, you won’t have the confidence to follow it, with discipline, and if you cant followit with discipline you no method.

In the method itself, there must be an edge and it can be anything you like but you must understand how and why it goes you one.

For example – my edge is hitting contrary trades at turning points. with four indicators combined I have confidence will work.

Yours could be anything – but so long as you know what it is then that all that matters.

Your edge is personal to you.

When acquiring your forex education, understand that method is only part of the equation for success.

The really successful traders know that success is as much based upon understanding, confidence and discipline, as it is on the method used – its an overall understanding your after.

Today, too many traders will not get the right forex education and take short cuts. They believe they can buy success from a guru or vendor for a few hundred dollars and of course lose.

Success comes from within.

If you learn forex trading the right way and focus on getting the right forex education, you can get an edge and you can win.

The fact is everything about successful forex trading can be specifically learned, by those willing to put in the time and effort.

If you put in the time and effort, your forex education will be richly rewarded – as you will be able to enjoy currency trading success and pile up huge long term profits.

Your forex education must help you answer the question below correctly. If you can’t answer the question below – then don’t trade forex as you will lose.

The question is:

What is your trading edge ( defined)?

A trading edge to clarify is something that will help you win, when 95% of traders lose and enable you to join the 5% of winners.

Below we have listed some common beliefs which many forex traders hold that are NOT a trading edge and simply see traders lose.

- I Follow an expert as he knows best.

- I have bought a trading system from a vendor with a simulated track record.

- Day trading is a great way to make money.

- I use a predictive scientific theory as markets are scientific.

- I Like to predict the big moves in advance.

- Buy low sell high is a great way to make money.

- I don’t have money management rules I Just place a stop.

- I have a lot of knowledge and learn more all the time to win.

If you hold any of the above beliefs – you will lose.

So what should your trading edge consist of?

It doesn’t really matter – so long as you know what it is, you have confidence that it can make you money and is based on sound logic. It’s personal to you – but must be in line with the following equation.

Logical Forex Method + Understanding Logic = Confidence = Discipline to apply it = forex success.

Lets start with – it must be logical and all the beliefs we listed above are myths and not logical.

You must of course understand how your method works, not just follow a mentor or guru because – if you don’t understand your method, you won’t have the confidence to follow it, with discipline, and if you cant followit with discipline you no method.

In the method itself, there must be an edge and it can be anything you like but you must understand how and why it goes you one.

For example – my edge is hitting contrary trades at turning points. with four indicators combined I have confidence will work.

Yours could be anything – but so long as you know what it is then that all that matters.

Your edge is personal to you.

When acquiring your forex education, understand that method is only part of the equation for success.

The really successful traders know that success is as much based upon understanding, confidence and discipline, as it is on the method used – its an overall understanding your after.

Today, too many traders will not get the right forex education and take short cuts. They believe they can buy success from a guru or vendor for a few hundred dollars and of course lose.

Success comes from within.

If you learn forex trading the right way and focus on getting the right forex education, you can get an edge and you can win.

The fact is everything about successful forex trading can be specifically learned, by those willing to put in the time and effort.

If you put in the time and effort, your forex education will be richly rewarded – as you will be able to enjoy currency trading success and pile up huge long term profits.