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.

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.

If you want to learn forex and get the best Forex education you need to know about “the turtles” You may never have heard of them but these traders learned to trade in just 14 days ( they had no previous experience and went on to make $100 million! How did they do it? Let’s find out.

In 1984, trading legend Richard Dennis taught a Trend Following trading methodology to the group of students above, to prove that the skills required to trade successfully could be specifically learned by ANYONE.

Dennis was settling An argument with business partner William Eckhardt.

Dennis believed anyone could learn to trade, Eckhardt disagreed.

The “turtle” experiment was then carried out to prove who was right and all the potential traders were from different walks of life and all had no experience of trading.

The group included:

• An actor

• A security guard

• Two card players

• An auditor

• A boy fresh from school

• A woman exchange clerk

The Experiment

This group of 14 traders then proved Dennis right by earning an average annual compound rate of return of 80%, making over $100 million dollars for Dennis and many went on to become trading legends who still trade today.

What You Can Learn From The Turtles?

If you are embarking upon learning Forex trading and getting a Forex education the experiment has several key points you need to consider in your own Forex trading strategy.

The reason most traders fail is simply they cannot get the right mindset to succeed and this sees 95% lose.

The turtle trading experiment taught them the RIGHT MINDSET to trade successfully and gave them a set of rules they could believe in and have confidence in.

The system they were taught was simple, anyone could learn it and Dennis knew that simple systems work best as not only are they more robust in real time trading than complicated ones – but they are easier for traders to have confidence in as well.

Dennis taught them to have confidence in the system they were trading, and follow it rigidly to achieve success and this is the simple formula you need to learn as part of your own Forex education – if you do you could enjoy currency trading success to.

A Simple System + Discipline = Trading Success

Keep in mind they did this all in 14 days!

So its not the effort you put it in that makes a forex trader successful its working smart in the right areas that will give you success.

Remember:

You don’t get a reward in Forex trading for being clever or working hard, you get your reward for being RIGHT – PERIOD.

So when you consider your own Forex trading get a simple system that you can have confidence in and you will then be able to apply it with rigid discipline – this is really the key to currency trading success.

Of course you may not become as rich as the turtles did but if you learn the right Forex education you can become a successful trader the opportunity is open to all and the potential is huge.

Forex trading is an exciting challenge so if you have the right mindset and are prepared to work hard in the right areas you could change your financial future for ever. The question is:

The challenge is open but are you up to the challenge? -If you are welcome to the worlds most exciting business opportunity!

If there is one story recommend any trader reads it’s the story of “the turtles” – this group of traders learned how to trade in just 14 days and went on to make millions and the way they did may surprise you.

First let’s go through the background of the turtle story.

In 1983 Legendary trade Richard Dennis decided to prove that anyone could learn to trade. He then picked a diverse group of people to prove his point. They included an actor, a security card a boy fresh out of school and an auditor, to name but a few.

In 14 days he taught them his method, a set of money management rules and set them off to trade.

The result?

They made Dennis $100 million dollars, proved his point that anyone could learn to trade and went on to become some of the most famous traders of all time!

There are several points that any novice trader can learn and make their Forex education a lot easier, so here are the salient points to keep in mind.

1. They Did it quickly

14 days and then traded and made millions!

Not bad at all and Dennis concentrated on teaching them only what they needed to know no filler and no knowledge for the sake of knowledge. Keep in mind you get paid for being right in trading not for the hours you put in.

2. They Kept It Simple

The system they were taught by Dennis was simple and this was deliberate – it’s a proven fact that simple systems work better than complicated ones and just as importantly, there easier to understand and have confidence in.

3. Discipline

Dennis did not just teach them how to apply a method he taught them how to execute the method with discipline.

This is vitally important to any trader if you can’t execute your method with discipline then you have no method!

4. Money management

They were also given strict money management rules to preserve equity and not to take calculated risks when the time was right.

An interesting fact.

Whilst they all did well – some traders did far better than others and this is a great illustration of the importance of mindset. Trading is not just about method it’s about having the right mindset to make it work.

Trading success does actuially come from within as much as learning a great method.

The turtles proved anyone could learn a method and anyone can trade – so if you have the desire you can do it to. You can see form the above example that if you work smart not hard and get a method you have confidence in, you can trade and win.

You may not become as rich as the turtles but you should look their story up and read it – as not only is it interesting, its very inspiring and should be an essential part of any novice trade’s forex education.

The Forex trading strategy enclosed is ignored by most new traders but it’s the one the savvy, millionaire traders use and is at the heart of some of the world’s top trading systems. And even better, it’s simple to learn so you can use it too.

The Forex trading strategy we will look at here is based on how ALL big currency trends start and continue and if you look closely at any currency pair, a bullish currency trend starts by break to new market highs and as the trend continues and develops, the currency will continue to break new market highs. The best way to get in on all the biggest and best trends is therefore is to buy breakouts- it’s easy and it works, so why don’t most traders do this?

The novice trader thinks, that to win he needs to predict trend changes in advance and rather than buying breakouts, he continually buys dips to support and hopes the level holds but in most cases he gets stopped out and eventually losses his equity.

You cannot predict Forex prices in advance so don’t try! If you want to win you need to trade with the odds on your side and the best way to do this is by trading the best breakouts – so which breakouts should you trade?

You need to be selective and pick only levels of resistance, the market feels are important and in terms of this, the more tests before the eventual break the more likely the breakout, will see a follow on in terms of the direction of the break will. Look for six or more tests, befoire the break takes place and also, look for two of the tests to be in time frames which are at least a few weeks apart. In fact, the wider the time frames the more valid the break.

You don’t need to make breakout trading complicated, you can simply can use a bar chart and few confirming momentum indicators and you will then have a robust and simple strategy which is proven to make big gains.

Many of the world’s top trading systems are based on trading breakouts and you should consider basing yours on this method to – its easy to understand and have confidence in and will always work , as long as currencies trend and that will never change.

In the late eighties I was reading the excellent book “Market Wizards” by Jack Shwager and was fascinated by a story of how ordinary people were taught to trade in just 14 days and went on to make hundreds of millions of dollars. How was it possible? Let’s take a look at the legendary story of the turtles.

Trading legend Richard Dennis was having a debate with his business partner and was trying to convince him anyone could be taught to trade, providing they had the right mindset and education. His partner disagreed and felt trading was a god given gift – Dennis set out to prove him wrong.

He gathered a diverse group of people together, from all walks of life who only had one thing in common – they had never traded before. They were a very diverse group and ranged from a security guard, to a female auditor to a boy just finishing high school.

He then taught them to trade. After 14 days, they were all given trading accounts and real money and the rest is history. This group went on to make hundreds of millions of dollars and become trading legends.

So what can you learn from the story?

The first point is – trading success is open to anyone and all the basics of trading success can be learned. Sure, you may not become as rich as this group but there is a big difference between something being impossible and something that can be achieved.

I personally found the story an inspiration and it was one of the major reasons I opened a trading account.

The other point from the turtle story is that simple trading systems work.

The system taught was very simple (a basic long term following breakout method) and of course all the students learned it in just 14 days. So complex systems, you can forget – keep it simple!

The reason Simple systems work is, they are more robust in the brutal real world of trading than complex ones, whose numerous elements snap under the pressure of volatility.

Dennis of course knew that having a simple trading system was all well and good – but you have to follow it with discipline and employ strict money management criteria to win and this point was rammed home to his pupils.

The problem for most traders is learning methods is easy, applying them is hard, very, hard and if you think its easy you are not a trader.

The Problem is you need to keep applying a system with discipline, even when its taking loss after loss and the market is making you look stupid. This is tough furthermore, and just as important, you have to hold your winners as open equity continually eats your open profit – again this is hard.

If you have confidence in your system and know why it works long term you can acquire discipline like the turtles were, just be prepared for some mental turmoil.

The story should be required reading for any budding trader and in addition to the information in Market Wizards, check out the book – Way Of The Turtle by Curtis Faith, the most successful turtle of all. He gives you all the info on the experiment, the system and his experience, so you have a great view from the inside.

Like I said earlier, you probably wont make as much money as the turtles – but maybe, just maybe, with the right forex education and a burning desire to succeed you could do very well and remember:

Everything about trading can be learned.

Do you have the desire to succeed and a willingness to get the right forex education?

Then try forex trading and see, currency trading success could be within your grasp

Good luck!

1. Never invest the money, you can’t afford to lose
The statistics says, that 90-95% of traders lose their first deposit. That may also happen to you. So, it’s silly to think that it gonna happen a miracle and you won’t lose your first money.

2. Don?t use more than 5% of your deposit for trading simultaneously
I think that using 5% of the deposit is the right sum for trading at one moment. Even if the market will move against your predictions, you won?t lose your funds. After some unprofitable trades you will have enough money to continue Forex trading and moving forward.

3. Never do scalping
Scalping is unacceptable at the Forex market. Even if you do good for some time, once you?ll lose much money. Scalping may be used only with one term: stop-loss must be the same as take-profit.

4. Set right stop-loss and take-profit
The level of stop-loss and take-profit must be clearly determined by your Forex trading system. In my trading system SL and TP are the same. The main thing is: SET STOP-LOSS. There are some situations when a trader can?t fix the losses. So, stop-loss is the only way to save your deposit.

5. Keep self-control
That?s the main advice for all traders at all markets, not only at Forex. Emotions bore mistakes. Follow your trading strategy and never deviate from it. After an unprofitable trade don?t try to play back immediately, that will only make the situation worse.

Managed Forex Account

I wish good luck to all traders. And remember: the more the profit is the higher the risk is and the lower the profit is the more risk-free the endeavor is.

If you want a simple Forex trading strategy which makes big gains in around 30 minutes a day and is very easy to learn, then the one enclosed is for you. Many of the world’s top traders use this strategy and you can use it to and build serious wealth.

The strategy is based upon the fact that currencies trend long term and is focused on getting in on these trends – when the odds are at there best. If you look at any currency trend, you will see that new trends start from breakouts to new market highs and continue there trend from them.

This strategy focuses on buying breakouts and holding them for weeks or more and it will always, work because currencies in a free market will always trend. Most traders don’t trade breakouts but always remember – most traders lose! So why do most traders ignore this method of trading?

The reason these traders don’t buy breakouts is because they believe the myth that to make money you need to buy low and sell high and they try and predict turns in the market.

Breakout trading simply trades the reality of price change and most traders cannot do this. As soon as they see a breakout occur, they want to wait for prices to come back down, so they can get in at a, cheaper price but by waiting they miss the move. The odds are high when a good breakout occurs, of the trend continuing and that’s why its such a great way to trade.

When trading breakouts, you need levels which the market considers are important and that means a lot of tests before the break, always keep in mind it’s the more tests the better in terms of increasing the odds, when the breakout of resistance does occur.

This strategy is simple and it will always work and if you use it, you can trade just a few times a month, get into and hold the best long term trends and make yourself a triple digit income in 30 minutes a day or less.

The Forex trading strategy enclosed is popular with many of the top traders in the world and it’s very easy to understand and do yet, almost new traders in Forex use it but that shouldn’t worry you to much 95% of them lose money! Let’s look at how this simple logical strategy can make you some great Forex Profits.

Lets first look at how all Forex trends start and if you look at a chart of any currency pair a bull trend will start by breaking up to a new chart high, as the trend matures and develops the bullish currency will keeping breaking highs and this can go on for weeks, months or even years. If you want to get in on these trends when the risk reward is at it’s best, you need to buy these breaks of resistance.

Before we look at how to spot a good breakout, lets look at why novice traders fail to use this method.

The problem most novice traders have is their mindset, they want to buy the exact turn in the currency and this means, their constantly buying into support and hoping it holds. A lot of traders call this prediction but as you can’t predict Forex price movement, it’s just hoping or guessing, these traders keep getting stopped out and their equity gets burned.

It’s not that these traders don’t see a breakout as bullish many do but their attitude is – the price has gone to far, I will wait for it to come back but on the best breakouts it never does and they miss the trend and a good profit.

If you want to win at Forex trading you need to look at breakouts and when they occur – just get on board, keep in mind the odds of success are at there highest when a breakout happens and always keep in mind, that a trend in motion is more likely to continue than reverse.

Good breakouts are levels which have had a few tests before the break,in pure technical terms the minimum number is 2 – but you need more to get the odds firmly on your side. The more times the level is tested, the better the breakout will be when it comes. I look for at least 4 tests and like to see the tests, have occurred in time periods of at least a few weeks apart. Another trick to confirm the breakout, is to use levels which line up on the longer term weekly chart as well as the daily.

When the break comes, protection is under the level which has just given way – if your wrong your out with a small loss, giving you good risk to reward.

There is nothing complicated about breakout trading, it’s easy to learn and furthermore, as markets will always trend, this method will always work. If you want to win with a timeless Forex trading strategy, trading breakouts can make you a great second income in around 30 minutes a day.