I will not deceive you, forex trading is not as easy as presented by some gurus. Though automated means of trading has proved to make life easier in this type of investment opportunity, especially in the present economic meltdown.
Lately,most forex traders are now thinking of adopting automated way of trading to ease their stress and make more money on auto pilot. The question is, would they just see any forex robot and start using it? The answer is absolute NO!
So, there are some key factors to be considered before jumping into these forex trading software.The first to consider is called SYSTEM PSYCHOLOGY
As human being, we have different way of reacting to situations or the issue of life, so it is with automated trading systems. Every trading system has a way of responding to market fluctuations. Some forex trading systems are designed to be "trend oriented" meaning that they open and close trade positions automatically base on the current trend of the market. That's their own psychology towards the forex market.
While some other automated trading systems could be "market reversed" oriented system, meaning they open or close trade when a trend has reached its optimal point. This is usually called pivot point trading.
What to be noted is that, response of each expert advisor of forex robot to forex market situation varies. Some fx trading robot perform excellently in some market situations while other in the same forex market trend fail woefully.
To be continued........
FAP Turbo - Could This Be Your Licence To Making Money In Forex?
There are so many forex trading robot today that claim to know how to pull profit from forex market. But how do you know which ones really work, and which one fail to deliver on the grand promise?
Well, you 're in luck today, because i happen to have to have tried out tons of different forex trading robots, and can tell you about one in particular that is definitely worth trying out. It's called Forex Auto Pilot Turbo(FAP), it might just be what you 're looking for.
This FAP Turbo is a new forex trading robot that hit the market unaware and it has sucked amazing profit from the forex market. This robot can automatically place trades 24 hours a day without any human intervention.
Another good side of this forex trading robot is that you can make money no matter the size of your accout. You can start trading with little as $25.
FAP Turbo can be installed on the Virtual Private Server. This way you can turn off your computer and still have the robot trading for you.
Would you like to start making money today? Click Here to begin.
Well, you 're in luck today, because i happen to have to have tried out tons of different forex trading robots, and can tell you about one in particular that is definitely worth trying out. It's called Forex Auto Pilot Turbo(FAP), it might just be what you 're looking for.
This FAP Turbo is a new forex trading robot that hit the market unaware and it has sucked amazing profit from the forex market. This robot can automatically place trades 24 hours a day without any human intervention.
Another good side of this forex trading robot is that you can make money no matter the size of your accout. You can start trading with little as $25.
FAP Turbo can be installed on the Virtual Private Server. This way you can turn off your computer and still have the robot trading for you.
Would you like to start making money today? Click Here to begin.
AUTOMATED FX TRADING - ARE YOU MAKING MONEY?
I know this is the question that will be burning in the mind of forex traders that automate their trading.
Not too worry, i will just show a trick that would make the difference. I mean it! It will certainly make the difference.
To be sincere, those brokers actually want the traders to be loosing for them to make money both in terms of trades spread and others
If you observe very well, your automated trading software or expert as the case be usually prove itself right in the first or two weeks of usage. Immediately after two or three weeks, it starts sucking your m.oney. Is that not?
Not that your automated forex trading system is not performing but there is a tweak somewhere.
This is what you will do, immediately after two weeks you install the automated forex system or an expert advisor and it's been working fine please remove the expert advisor from the MT4 platform and trade manually for two days.
Then re-install the expert advisor on to the Mt4 platform and continue with your automated forex trading.
Alright, in case you 've not gotten your forex automated system. CLICK HERE
Not that your automated forex trading system is not performing but there is a tweak somewhere.
This is what you will do, immediately after two weeks you install the automated forex system or an expert advisor and it's been working fine please remove the expert advisor from the MT4 platform and trade manually for two days.
Then re-install the expert advisor on to the Mt4 platform and continue with your automated forex trading.
Alright, in case you 've not gotten your forex automated system. CLICK HERE
How To Automate Your Forex Trading.
The process of how to automate forex trading is simple and straight forward. In this guide i 'll show you step by step on how to automate trade in forex using MT-4 (metatrader-4) platform.
Step 1 - Download and install MT-4 from any broker you wish to use on your computer. After successful download, the platform will prompt you to open a demo account. please do that.
Step 2 - Get the expert advisor you intend to use saved on your desktop. you need Expert advisor to automate MT-4 without Expert advisor, MT-4 is just like any other platform.
Step 3 - Close the MT-4. By now you should have your demo account opened on it. Don't worry just close it.
Step 4 - Click on "My Computer" from your desktop.
Step 5 - Click on "Local Disk (c:)"
Step 6 - Locate the Program File and double click on it.
Step 7 - Locate the folder "MetaTrader - name of your broker" and double click on it.
Step 8 - Locate the "expert" and double click on it.
Step 9 - On your desktop where the expert advisor was saved, right click on it to copy and paste it into expert folder.
Step 10 - Close the operation on step 9.
Step 11 - Double click trading platform on your desktop, locate the Expert Advisor at the top menu of your trading platform and click once. Make sure you click on the currency pair you which to trade at the left corner under the MARKET WATCH. For example EUR/USD or GPD/USD or USD/JPY.
Step 12 - Double click at the + sign at the expert advisor. You will notice your new expert advisor you ve just included. Right click on it, a pop-up box will come up to input your variables. Most importantly, "Allow live trading" must be checked under the common tab . Click OK. If you did everything right you will see a tiny smiling face at the top right corner hand of the chart with the name of the expert advisor program you are running next to it. Your automated trading is now up and running.
Step 1 - Download and install MT-4 from any broker you wish to use on your computer. After successful download, the platform will prompt you to open a demo account. please do that.
Step 2 - Get the expert advisor you intend to use saved on your desktop. you need Expert advisor to automate MT-4 without Expert advisor, MT-4 is just like any other platform.
Step 3 - Close the MT-4. By now you should have your demo account opened on it. Don't worry just close it.
Step 4 - Click on "My Computer" from your desktop.
Step 5 - Click on "Local Disk (c:)"
Step 6 - Locate the Program File and double click on it.
Step 7 - Locate the folder "MetaTrader - name of your broker" and double click on it.
Step 8 - Locate the "expert" and double click on it.
Step 9 - On your desktop where the expert advisor was saved, right click on it to copy and paste it into expert folder.
Step 10 - Close the operation on step 9.
Step 11 - Double click trading platform on your desktop, locate the Expert Advisor at the top menu of your trading platform and click once. Make sure you click on the currency pair you which to trade at the left corner under the MARKET WATCH. For example EUR/USD or GPD/USD or USD/JPY.
Step 12 - Double click at the + sign at the expert advisor. You will notice your new expert advisor you ve just included. Right click on it, a pop-up box will come up to input your variables. Most importantly, "Allow live trading" must be checked under the common tab . Click OK. If you did everything right you will see a tiny smiling face at the top right corner hand of the chart with the name of the expert advisor program you are running next to it. Your automated trading is now up and running.
AUTOMATED FOREX TRADING -THE CONVENIENT WAY IN FOREX
Still on my promise that i 'll will be sharing those ideas on how to be on top of forex trading. As it is known that trading forex trading is one of those most risky and profitable business on internet today, one must put in place reliable and convenient strategy to be able to survive forex business.
One of those ways that has been proven and tested is automated trading. Automated forex trading is making use of an expert advisor (EA) that was written in a program language that could be understood by the broker trading platform.
Traditionally, forex is traded by using telephone or setting parameters manually on the broker's platform whenever a position needs to be opened but in automated forex trading, you just need to set the expert advisor (EA)and leave it to take action on your behalf (opening and closing of positions when need be).
There are so many experts being advertised out there to be used for forex trading, one must be very careful in picking any for his automated forex trading because expert advisor or simply put"software robot" is a way of packaging one's strategy in the language that trading platform understand for trading execution especially metatrader4 platforms. The strategy being packaged for auto forex trading might be a reliable one or otherwise.
So,in adopting any expert for use in forex trading, it is advised that it must have been forward and backward tested for at least two weeks and prove to be making profit.
In my next posting on automated forex trading, i 'll be revealing the reason why forex trading should be automated.
One of those ways that has been proven and tested is automated trading. Automated forex trading is making use of an expert advisor (EA) that was written in a program language that could be understood by the broker trading platform.
Traditionally, forex is traded by using telephone or setting parameters manually on the broker's platform whenever a position needs to be opened but in automated forex trading, you just need to set the expert advisor (EA)and leave it to take action on your behalf (opening and closing of positions when need be).
There are so many experts being advertised out there to be used for forex trading, one must be very careful in picking any for his automated forex trading because expert advisor or simply put"software robot" is a way of packaging one's strategy in the language that trading platform understand for trading execution especially metatrader4 platforms. The strategy being packaged for auto forex trading might be a reliable one or otherwise.
So,in adopting any expert for use in forex trading, it is advised that it must have been forward and backward tested for at least two weeks and prove to be making profit.
In my next posting on automated forex trading, i 'll be revealing the reason why forex trading should be automated.
TRADE FOREX WITH EASE
There are two approaches to trade forex. We have technical analysis and fundamental analysis. Technical analysis is all about using some indicators to analyse market in order to know when to enter trade and exit trade while fundamental is using news to trade.
What do i mean by using news to trade forex?
Let me explain, every countries in the world has some certain factors that drive their economy either backward or forward. So when these factors happen and it favors a particular country automatically it affects the currency strength of that country.
Let's for example an economic factor like "employment" We all know that employment rate of a given country determines its fortune. High employment will surely strengthen an economy while high unemployment rate will do otherwise to an economy. So, whatever happens to those economic factors/indicators will automatically have effect on strength of the currency of the country.
Since this is a known fact and forex trading is all buying and selling of currencies. One of the key approach to it is what is called "fundamentals" using economic indicators to analyse forex market.
What of Technical analysis?
I 've mentioned it above that is all by using some calculated or formulated indicators to analyse forex market. Examples of that are moving averages, parabolic sars, bollingar bands, relative strength index and so on. The technical indicators are so many, it depends on the trader to choose those ones that would be useful for him to analyse his trading in forex.
Having known the approaches to forex trading, there are still some other basic things to be known.
What are they?
I will call them terminologies in forex trading. They are Lots, spread, leverage, trailing stops, stop loss, automated trading, order,etc.
My intention on this platform is to share the idea of trading forex with ease. Because trading forex both from the angle of technicals and fundamentals is not a child-play. It requires a lot of experience and hardworking.
If you can just stay tune with this, i will show you the best and fastiest way of trading forex that would bring a lot of profit. Trust me.
What do i mean by using news to trade forex?
Let me explain, every countries in the world has some certain factors that drive their economy either backward or forward. So when these factors happen and it favors a particular country automatically it affects the currency strength of that country.
Let's for example an economic factor like "employment" We all know that employment rate of a given country determines its fortune. High employment will surely strengthen an economy while high unemployment rate will do otherwise to an economy. So, whatever happens to those economic factors/indicators will automatically have effect on strength of the currency of the country.
Since this is a known fact and forex trading is all buying and selling of currencies. One of the key approach to it is what is called "fundamentals" using economic indicators to analyse forex market.
What of Technical analysis?
I 've mentioned it above that is all by using some calculated or formulated indicators to analyse forex market. Examples of that are moving averages, parabolic sars, bollingar bands, relative strength index and so on. The technical indicators are so many, it depends on the trader to choose those ones that would be useful for him to analyse his trading in forex.
Having known the approaches to forex trading, there are still some other basic things to be known.
What are they?
I will call them terminologies in forex trading. They are Lots, spread, leverage, trailing stops, stop loss, automated trading, order,etc.
My intention on this platform is to share the idea of trading forex with ease. Because trading forex both from the angle of technicals and fundamentals is not a child-play. It requires a lot of experience and hardworking.
If you can just stay tune with this, i will show you the best and fastiest way of trading forex that would bring a lot of profit. Trust me.
HOW TO START TRADING FOREX
Yeab! In my last post on GETTING STARTED WITH FX TRADING, i stopped at amount required to start with. i said $100 for mini account and $1000 for standard account although this depends on the broker. i think majority of the broker are coming down to the level of accepting retail clients.
The amount of leverage using borrowed money varies with accounts. High leverage gives more money to trade for a given investment. However, newbies in forex trading are advised to acquited to Forex by doing paper trades ( demo trading) for a period of time. Demo trading practice transactions that don't involve real capital(money). They allow you to see how the systems works while learning how to use the various software tools that are provided by most Forex brokers
Most online brokers have demo accounts that allow newbie to make free paper trades for up to 30 days. Every new forex investor is advised to use these demo accounts for at least 3 months and they are experiencing consistently steady profits before they try live trading.
Each broker has their own set of softwares tools to help in making transactions, but there are a few tools that are common to all Forex brokers such as real time quotes, news feeds, technical analyses and charts and profit and loss analyses.
Nearly every broker operates on the internet. To have access to their services you should you have a reasonably modern computer, a fast internet connection, and an up-to-date operating system such as window XP and all that.Once your account is set up, you can access it from any computer.
Trades are commission free, meaning that you can make many trades without without worrying about incurring high brokerage fees. Broker make their money on the "SPREAD" (difference between bid and ask price)
Fx trading is all about buying and selling currencies online. As you are buying one currency automatically you are selling the other. Lets take for example, you pair EUR/USD assuming the action taking is to buy EURO, automatically you re selling US DOLLARS. Meaning EUR is the "base currency while USD is the counter currency. If EUR
appreciates after buying, you sell it off to make your money and buy USD vice versa.
I understand that at this junction, it might be getting confusing. Don't worry in my
next post by God grace i will explain better to the extent that i will touch the two
basic approaches to forex trading. Till then enjoy......
The amount of leverage using borrowed money varies with accounts. High leverage gives more money to trade for a given investment. However, newbies in forex trading are advised to acquited to Forex by doing paper trades ( demo trading) for a period of time. Demo trading practice transactions that don't involve real capital(money). They allow you to see how the systems works while learning how to use the various software tools that are provided by most Forex brokers
Most online brokers have demo accounts that allow newbie to make free paper trades for up to 30 days. Every new forex investor is advised to use these demo accounts for at least 3 months and they are experiencing consistently steady profits before they try live trading.
Each broker has their own set of softwares tools to help in making transactions, but there are a few tools that are common to all Forex brokers such as real time quotes, news feeds, technical analyses and charts and profit and loss analyses.
Nearly every broker operates on the internet. To have access to their services you should you have a reasonably modern computer, a fast internet connection, and an up-to-date operating system such as window XP and all that.Once your account is set up, you can access it from any computer.
Trades are commission free, meaning that you can make many trades without without worrying about incurring high brokerage fees. Broker make their money on the "SPREAD" (difference between bid and ask price)
Fx trading is all about buying and selling currencies online. As you are buying one currency automatically you are selling the other. Lets take for example, you pair EUR/USD assuming the action taking is to buy EURO, automatically you re selling US DOLLARS. Meaning EUR is the "base currency while USD is the counter currency. If EUR
appreciates after buying, you sell it off to make your money and buy USD vice versa.
I understand that at this junction, it might be getting confusing. Don't worry in my
next post by God grace i will explain better to the extent that i will touch the two
basic approaches to forex trading. Till then enjoy......
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