Forex Trading Robots Measuring Profitability

Forex trading software has become more sophisticated with the introduction of forex trading robots. Experienced and novice traders want to test drive this automated way of trading and gauge how it measures up in the forex market.

Most of these programs have convincing presentations and impressive performance records, but be wary about building your trust too much about any particular forex trading software. Most of them offer tested data which are pretty much remarkable, but in most cases these robots have not traded with hard currencies. It doesn't mean that these forex trading software systems are fraudulent, created just to swindle you. A number of these robots have track records of profitability for several years and have been tested during actual trading. The only way to find out which one of these particular trading robots can work to your advantage is to acquire the software and try it out.

There are hundreds of forex trading robots available on the market. Some of them promise a refund if you find their system to be such a waste of time, while others can do the job. You can try out different systems that work best for your trading style. There are programs geared towards beginners, experienced and long term traders. The option of which programs to use is up to you.

Be on guard to the ones that claim they're the most profitable and convince you that you'll become rich quicker, these are the ones that you should avoid. The tested automated forex robots will make profits for you, not in a quick manner but a steady movement, thus, increasing your profit slowly but surely. A lot of money can be made dealing in forex trading but will not make you rich overnight.

Look for those forex trading programs that make more winning calls based on past performance and adopt an autopilot feature to stop automatically to minimize any losses when the market is unsteady. Such systems are good candidates for making profits, in the long run.

The most essential method is to consider carefully about your investment objectives and employ proven trading strategies. This is where the forex trading robots become useful. Since robots respond to the program and commands of its owner, your forex trading robots will automate the trading for you, using the tried and tested trading strategies which you can input in its memory.

Why is Your Choice of Forex Trading Platforms So Important?

If I had to sit down and make a list of all the forex trading platforms available to anyone interested in trading forex it might take a while. But guess what, it would do you no good. Of what use would you have of such a list besides filling your garbage can? Believe me, I have struggled for a while trying to find a package that could make trading in the forex market easy.

Certainly included in that package would have to be up to date information I need, readily available help with trading or any questions I had, and a place where I just felt comfortable trading, etc. But most importantly I was looking for a platform where I could make money easily.

Before, I thought jumping into the forex market was going to be difficult no matter what. The only thing that could have changed my mind was the information I have now. I know now that your whole career of trading forex begins with which platform you choose to trade on. Now back to the list, a list full of websites and programs won't do anything for you, but how about a list that has the useless ones crossed out. Now that would be an invaluable tool, because the difference between money and broke is where you begin.

If you've never asked yourself why you are not making money trading forex it's time to start. But, you shouldn't worry about having an answer because I know exactly why you are not. I've been there before and have already answered the question. You need to find a forex trading platform that helps you make money.

Currency Swing Trading - Why Novices Can Build Big Profits With This Method

Currency swing trading is the perfect method for a novice to use because it overcomes the main barrier that most traders have when trying to achieve currency trading success...

It overcomes the problem of discipline. Most traders lack discipline and it's the big difference between success and failure and swing trading requires very little as profits and losses come quickly. It also overcomes the impatience of most traders who like to trade.

Before we continue you might say well, forex day trading requires even less because the moves are shorter but the problem you have with day trading is it simply doesn't work.

Why?

Because all moves within a day are random and you can never get the odds on your side and you will eventually lose.

You get a lot of vendors telling you that you can make money day trading but look at their track records - there all simulations in hindsight and that means nothing.

Swing trading is easier than long term trend following from both a discipline point of view and a patience point of view but can be just as profitable.

You're Aim

You are looking for reactions within the major trends when prices get over bought and oversold and trading into these levels and a swing trading based upon the following will work.

You simply need to use trend lines and Bollinger Bands - the latter tells you the volatility and is a great tool. Check our other articles for more details. When prices become overbought and oversold and testing resistance or support you have a potential trade.

Confirm the Move

Before it gets to this level you need to check the strength of price it should weaken into resistance and strengthen into support ( never guess always wait for confirmation), you check the strength of price with momentum oscillators and two great ones to use are the stochastic and RSI.

You're Stop

If they support your view you trade and your stop goes behind the support or resistance level tested.

Hit and Run

You should take your profit early and not trail a stop and your profit should be taken in when the price moves toward the next level of support or resistance. Currency swing trading profits disappear quickly, so you simply take them early or "hit and run and bank"

Simple but Effective

Now the above is a simple currency swing trading system I have used for 20 years or so and it's worked well for me and can for you and you can pile up triple digit profits. Don't be put off by its simplicity all the best systems are and this means they are robust with fewer elements to break.

You can learn to swing trade in a week or so and it will take you less than 30 minutes to apply. It's fun, exciting and can and does make big profits - try swing trading and you maybe glad you did.

What Should You Know About Forex Trading Software System!

Most People who make money from the foreign exchange market use a profitable forex trading software system. That's just one of their advantages in front of the people who lose money with their trades.

Why do they use a forex trading software system and what are the advantages of using a software like that?

There are many benefits and the best one is that with a forex software they will take and make money on every opportunity available.Let me give you a short but clear example.As you know the currencies are traded at any hour of the day because of different time zones.

It's 3:00 Am in the morning and you are sleeping,while in your account stands 5000 euros ready to be traded. The euro level raises at 3:10 Am with 10% but you can't trade them because you are sleeping, so you lose that opportunity. That's just one difference when using a software.

Another benefit of using a software is that it will also reduce the risk of losing money of your trades, with mathematical calculations.Some of these software programs even have a demo account where you can use the software without risking any real money.

If this isn't enough to make your trading easier,faster and safer then read another benefit of a forex trading software system: usually the software is developed by expert forex traders, which make thousands every day. They know how important it is to get and have buy/sell trading signals so they implement this thing in the software. If you were paying to receive signals, then you should know that you will not pay for signals if you use a software. Some software come with ebooks and other profitable that you can use to improve your trading skills and increase your profit.

Forex Market Analysis

I'm going to take the time to talk to you about forex market analysis. There is a lot of money to be made in this market which is pretty evident by the fact that there are three trillion dollars moving around each day. This obviously attracts new people to this market looking for a quick buck. The problem is that the market isn't nice to new people. These people end up losing their money pretty quickly because they didn't sit down and learn the basics of trading in this market. I'm going to share with you a little of what I've learned during my time which should help you out.

You're going to have a chance to do trading at anytime you want. It's a global market, so there is trading to be done at anytime of the day. The problem is that it isn't always profitable at all times. There are times where the market is very chaotic and erratic, which makes it an extremely poor time to do your trading. You typically have the peak hour, which is the busy times and off peak hours, which is the slower times. Surprisingly it is the slower times that are chaotic because there isn't enough volume to have a stable supply and demand. Stick with peak hours for trading.

Having the proper tools to get the job done is an important part of forex market analysis. I use the 10 Minute Forex Wealth Builder because it is an automated software tool that is designed to do analysis all day long. It can turn out to be a very valuable and profitable tool for all traders out there.

Currency Trading Made Easy And Effective

I'm going to share with you currency trading made easy and effective. This is a great business to get into. With a few trillion dollars in trades a day, that makes it the largest market in the world. There has been an opportunity for the small traders to now compete along side the large traders and make a profit.

You're going to need a daily plan to get this right. The worst thing you can do is get up in the morning, head to the computer and figure out what you're going to do to make a buck. That's just a waste of time. You need to have a step by step plan. You need to follow that step by step plan. After you try it for a little bit, you can evaluate its effectiveness. When you force yourself to think of a new plan and strategy each day, you're just wasting your energy on that. You miss the fact that you need energy to do the work required of you. Be a good and effective trader; have a plan.

Everyday on the news there is economic and political news. It's an important task for you to look at this before you start trading to make sure there isn't something being released that could be detrimental to the price of currency. Economic news like GDP or unemployment rates will have an affect on currency prices. The more alarming the news, the more volatile the currency market will be. Also watch out for political policies that have changes to economic policy; like taxes, regulations, etc.

Lastly, you'll want to get yourself a good software package for trading forex. I recommend Forex Killer. It has a great automated feature that can allow the software to handle the trades. It also can find and identify trends that you could make a profit on.

A Good Platform for Your Investment

Stock market, once thought to be the most unpredictable and complicated place has become the most effortless and reliable place for traders. Thanks to the Internet that has brought this conversion. Whether its stock market information, day trading them or information about online investment – all these are just a click away. Of late, lots of investors are showing their interest towards stock trading. However, due to lack of prior knowledge, they feel reluctant to become the potential traders. Don’t worry, browse stock trading company’s website and gather all the information. Moreover, you can also take professional advice from online financial experts.

Online stock investing today is the smartest decision you can make to get maximum return in minimum time. Now, you should forget those traditional and cumbersome trading concept – simply click the mouse and you are ready to invest in the market. Search an online trading company, open an account and start buying and selling of stocks via online brokerage. Before choosing a stock trading company, you should search for the best one in the market. Also, you should carefully read all the terms and conditions and then register online.

Stock market is a platform where you need a lot of patience, attitude and discipline -- and these are the decisive factors of your success. It is really incredible how some investors take the most perfect approach in online stock investing. Only a small group of people find out the meaning of attitudes that are most important to become an unfailing winner. Your marketing attitude helps you make the right decision.

To become a successful online stock investor, you need to create a new statement of yourself. The goal should be learned and gained knowledge to become a successful trader. Don’t think about how you can make money just try to learn different aspects of online trading system and proceed accordingly. Take any examples of successful traders, they always take chance without fear. They know the market and its changing trends. You should also develop the same attitude. Get yourself familiar with different terms such as day trading stock, online stocks, trading online options, online brokers, etc.

In a survey, it has been found out that there are 95 per cent of chances of committing errors in the stock market, simply due to lack of confidence and fear. You can get rid of this fear by gaining as much knowledge as you can via online trading company websites or through online experts. Obviously, your decision and attitude towards market help in a successful trading system.

However, your online broker plays a vital role in your online investment and return. These online stock brokers not only buy and sell your stocks but they also keep you updated with the latest news and information. So, you need be somewhat conscious while choosing a broker. There are many brokers who promise but do not offer those services, so browse the Web page and compare different trading company’s website and choose the best one as per your requirement.

Online investment is quick, easy-to-use, and reliable and offers maximum return in minimum time.

Know More About Day Trading

Do we really understand the meaning of trading? Many of us don't know and that's the reason why people have depicted stock market as a place, which is more vulnerable for investing. If you talk about day trading, you get the same response from most of the people. Such type of trading is often compared as gambling - where you cannot predict what will happen at the end of the game.

Day trading as the name signifies is a process where buying and selling of stocks is done in the same day before the market closes. Mostly, experienced traders who better understand the market moods do such type of trading. Though it's not a hard and fast rule, but traders need to have a comprehensive knowledge of the stock market. Once you understand the market, you can go for such type of trading.

Internet has made things much easier now -- anyone can enter into the world of trading. Online trading facility today has brought a new vista for traders and anyone can invest and manage funds from any corner of the world. Moreover, online brokers and stock trading companies have further made things easier for stock trading. Open an account today, invest and manage funds from anywhere you like.

However, choosing an online trading company is also one of the major steps and needs a lot of market research. Since all kinds of information are available on the Internet, finding a good company is not that much difficult. Compare some of the major industries - compare their services and choose the one as per your requirement. The company with excellent previous records should be given prime importance. On the other hand, your broker also acts as a key role in your successful trading. Choose the stock broker, who could manage your funds and charge a low commission rate for each transaction.

Everyone knows that trading in stocks is associated with some kind of risks, but one can avoid those subtle risks through a proper research work, and through a comprehensive market analysis. You can follow some important points that are mentioned below:

Trade intelligently: This is the first and foremost point to become a successful trader. You should know when to buy and sell stocks to gain maximum profit. Target those company shares where you can expect growth. Buy and sell stocks on time -- in case the share prices fall suddenly, it is always better to sell shares unless a boom is expected.

Invest in the right direction: Once you start investing, your aim would be to gain maximum profits. However, don't invest all your profits you make from the market. It is always better to invest a proportion of profits and move accordingly. This will help you in maintaining a balance between your principal investment funds and the profits.

Keep you abreast of the market news: Since, day trading is a process of buying and selling of stocks in the same day, therefore, it is important for you to keep in touch with the latest market updates. You can access all such information from the trading Website. Keep an eye on daily stock quotes and trade accordingly.

IF you follow the points above, you are bound to get profits. So, what are you waiting for, start planning and invest your hard earned money. Your present investment plan will definitely help you reap benefits in future. But, follow every steps with care and learn the fundamentals. Once you understand the market, you will always be a successful trader.

Indicators Are Liars! Trading Using Support & Resistance Levels

Many traders believe that to be successful you need mountains of indicators that give you some kind of "edge" over the market. I am here to say that trading as a means of consistent income does not have to be painful or difficult. That less is certainly more when it comes to trading. I've met traders with every indicator under the sun on their charts, with years of training under their belts having spent thousands of $$$'s and STILL not making a consistent income....

Why? Because Indicators are liars! Sure sometimes you might pull of a trade or 2 but in the end you always get spanked....Why? Because not everyone uses a MACD with your settings, not everyone uses the Stochastic or the RSI. I believe to be an effective trader you have to look at what the majority of traders look at...So what do most traders look at? Support and Resistance! Almost every system out there uses Support and Resistance to some extent. Support and Resistance is our number 1 indicator. So why not make Support and Resistance your system?! Mark up some levels on a chart using time frames from 1hr and above (this is what the big boys who move the market watch, so no lower please) and see what happens! Use other info that the majority of traders watch ONLY as confluence, Market Profile levels, Pivots and Fibs.

Support and Resistance levels are considered high probability areas for market "reversal", offering retracements of 0.75 points to in some cases 50+ points. In many instances historically referenced Support and Resistance levels can help traders catch markets tops/ bottoms to the very tick! Why? Because Support and Resistance levels are the most widely used trading tool! Everyone from Hedge funds and banks to the small time trader at home use Support and Resistance levels

For many it may be difficult to leave the system you are using now so why not use Support and Resistance levels as a guide alongside set ups defined by the system/strategy that you are implementing. Using Support and Resistance levels obtained from the 1hr, 4hr and daily timeframes offers the highest odds Support and Resistance levels. All levels should have historical significance and thus will be considered high probability trading areas. Throughout the trading day these numbers can become areas of Support AND Resistance.

Forex Trading Systems That Work

I get many questions on what Forex systems work best. In the beginning of my trading career I was looking for a best trading system. After some time I found that the system itself is not the most important thing for profitable trading. I cannot stress strong enough that it's a trader's mindset that makes him a successful trader. The second important thing you need to have is a sound money management system. Only when one resolves the issues with his mindsets then Fx trading systems start to make a difference.

There are different types of trading systems that work for different styles of trading. Fore me the most important characteristic of a trading system is mathematical expectation. Mathematical expectation shows you how much of the risked capital you will earn per trade. There is a simple formula to calculate it for a trading system. All you need to know win-to-loss ratio and risk-to-profit ratio. Expectation should be positive. If it's negative no matter how good a single trade may go, you will loose your account in a long run. And it is not how much it's negative is important. As long as it's negative it will continue to drain your account.

How you know if expectation of your system is positive or negative? The only way to find out is to back test your system first then forward test for some time. If you take 100 trades with your system on a demo account you will have a good idea about what the mathematical expectation it has. If it is positive then all you need is patience to execute your system over and over again and your account will grow gradually. On the other hand if you get negative expectation then switch the system. No matter how huge profit it can give in a single trade overall result will be detrimental to your account.

Just to give you an example let's calculate an expectation of some system. Say you have a system with take-profit of 40 pips and stop-loss of 30 pips. You found that this system wins fifty times out of hundred based on your forward test. So the mathematical expectation of this system is 40*5/100-30*5/100=5 pips. This number gives you and average estimate of your profit per trade. Your equity curve with this system will grow as if you were averaging 5 pips in each trade.

Now let's take a system that have the same profit and loss that are 40 pips and 30 pips. You found through back testing and paper trading that you loose 58 times out of hundred trades. That means mathematical expectation is 40*0.42-30*0.58=-0.6 pip. You lose less than a pip per trade but half a pip is enough to empty your account in a long run.

The bottom line is you need to thoroughly test your system and know exactly what the win to loss ratio of the system is. It amazes me when people know what their profit target and stop loss levels are but fail to find out the win-to-loss ratio of the system. It is not surprising to see most of them fail in trading.