By Sonia Kristina
You will find numerous cheap robots which promise you huge gains with low drawdown and even better, you don't have to do any work! Who wouldn't want a life time income for just the cost of a good night out. Let's look at the reality of Forex robot trading and see which lose, how much you can make with a good one and how to find one.
If you want to spot a losing Forex robot just look at unrealistic claims and you will find plenty and all the following statements are not true:
- Make a regular income monthly
- Make Over 500% with Less than 10% drawdown
- Trade with 90% Accuracy or more
- Predict Future Price Movements in Advance with Artificial Intelligence
There are many more but the above statements are laughable and if they were true these robots would be turning in better numbers than the world's top traders like George Soros.
In addition, if they were true, banks would save billions by firing there dealing teams and replacing them with a hundred buck robot and of course this has not happened. Despite all the huge claims of profit these robots make, most have never made any real money!
Just check the track record and you will find the track record is simulated on paper ( which means done on paper knowing all the closing prices) or you get results direct from the vendor, who is selling the system with no outside check. Quickly go to some forums and you will see users, who are bemused there not getting the same results!
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Unless, the track record is audited and from a neutral source pass the system by. You need audited results but how much can you make with the best robots?
You can make up to a hundred percent per annum with the best which is a great return but you will get drawdown too and these drawdown periods will last a few weeks to a few months and be in the region of 30%.
If you want great long term gains a good robot can give you them but be prepared to judge performance over the long term and always remember all robots make big claims but few have a real time track record and in Forex trading that's all that counts
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Article Source: http://EzineArticles.com
Showing posts with label forex trading system. Show all posts
Showing posts with label forex trading system. Show all posts
Monday, June 21, 2010
Monday, June 14, 2010
Learn Forex - Lessons From a Group of Millionaire Traders You Need to Know For Bigger Profits!
By Samuel Leslie Berkovits
Here we will look at how to learn Forex trading the right way, we will look at a group of people who had no experience of trading, learned to trade in two weeks and then went onto make hundreds of millions of dollars. I am not saying you will earn as much as them but what they did is sound advice and can help anyone profit from global Forex trading.
The Turtle experiment was devised by trading legend Richard Dennis and his aim was simple - to prove anyone could learn to trade with the right education. He took a group of people who ranged from a security guard, to a boy just out of high school and set about teaching them to trade.
After a period of instruction which lasted two weeks, they got accounts of $100,000 each and were allowed to trade. They all received a percentage of the profits as their income and they went on to make several hundred million dollars profits.
It's an inspiring story and how they achieved it was not with a complicated trading system in fact, the system was simple and was just a breakout system which followed long term trends. The system didn't even win most of its trades, it lost far more than it won but had great money management.
The system itself was not the key to success and Dennis knew this, he therefore focused on giving his pupils the right mindset and. instilling discipline in them. After the experiment was over most of the the traders said following the system as it was given to them, was far harder than learning the system itself.
Today there are lot's of people telling you trading is easy - you can plug in a robot make thousands of percent and have a success rate of over 90% but this is not the reality of trading.
The reality of trading is - being able to follow a logical system through long periods of drawdown ( all the best systems lose for long periods) and staying on track until profits re-emerge. In the second article in this series,we will focus on why most people can't get the right mindset for success and how you can achieve it and enjoy currency trading success.
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For free 2 x trading Pdf's, with 50 of pages of essential Forex info and the BEST [http://www.learncurrencytradingonline.com/subscribe.html]Currency Trading Strategies for success, visit our website at: [http://www.learncurrencytradingonline.com]http://www.learncurrencytradingonline.com.
Article Source: http://EzineArticles.com
Here we will look at how to learn Forex trading the right way, we will look at a group of people who had no experience of trading, learned to trade in two weeks and then went onto make hundreds of millions of dollars. I am not saying you will earn as much as them but what they did is sound advice and can help anyone profit from global Forex trading.
The Turtle experiment was devised by trading legend Richard Dennis and his aim was simple - to prove anyone could learn to trade with the right education. He took a group of people who ranged from a security guard, to a boy just out of high school and set about teaching them to trade.
After a period of instruction which lasted two weeks, they got accounts of $100,000 each and were allowed to trade. They all received a percentage of the profits as their income and they went on to make several hundred million dollars profits.
It's an inspiring story and how they achieved it was not with a complicated trading system in fact, the system was simple and was just a breakout system which followed long term trends. The system didn't even win most of its trades, it lost far more than it won but had great money management.
The system itself was not the key to success and Dennis knew this, he therefore focused on giving his pupils the right mindset and. instilling discipline in them. After the experiment was over most of the the traders said following the system as it was given to them, was far harder than learning the system itself.
Today there are lot's of people telling you trading is easy - you can plug in a robot make thousands of percent and have a success rate of over 90% but this is not the reality of trading.
The reality of trading is - being able to follow a logical system through long periods of drawdown ( all the best systems lose for long periods) and staying on track until profits re-emerge. In the second article in this series,we will focus on why most people can't get the right mindset for success and how you can achieve it and enjoy currency trading success.
Click Here For ProForexRobot!
NEW! 2 X FREE ESSENTIAL TRADER PDFS
ESSENTIAL FOREX TRADING COURSE
For free 2 x trading Pdf's, with 50 of pages of essential Forex info and the BEST [http://www.learncurrencytradingonline.com/subscribe.html]Currency Trading Strategies for success, visit our website at: [http://www.learncurrencytradingonline.com]http://www.learncurrencytradingonline.com.
Article Source: http://EzineArticles.com
Friday, June 11, 2010
Managed Forex Trading - Important Tips
By Fais Fahrurozi
For this reason, it is important to take extra precautionary measures in choosing for the best brand of foreign currency trading robot because it can significantly make or break your day. The quality of software that you shall be using can tremendously influence the amount of money that you are going to gain; or the sum of investment that you are going to lose. Hence, you have to spend more time on researching for the best product by verifying the veracity of its claims; as well as ensuring that the software is using a well managed forex trading platform as one of its basis of analysis.
To further aid you in your selection process, one of the things that you should check is the number of gains it can make compared to the number of losses. If the robot has more losses than gains in its record then move on to another brand until you are able to find one that has more gains than losses.
There are quite a number of them in the market; just choose one among those with high accuracy rate. The brand with high precision in its recommendations are using well managed forex trading platform to get credible analysis; thereby generating more accurate projections.
Another essential feature that the brand should have is the ability to be programmed on autopilot mode. In other words, you can make the forex robot do the trading for you and still come out with gaining results. A lot of people were able to earn profits when they set the robot to autopilot trading mode from time to time; although some of the trades end up losing some of their investments, but most of the short term trades were gaining. In the end, they still end up on the winning edge.
At this point, you should already have an idea on how to choose the best well managed forex trading robot to assist you in your investment in the foreign currency exchange market.
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Visit http://www2.forexsoftwarereviewsnow.com/ for more informations and reviews.
Article Source: http://EzineArticles.com
For this reason, it is important to take extra precautionary measures in choosing for the best brand of foreign currency trading robot because it can significantly make or break your day. The quality of software that you shall be using can tremendously influence the amount of money that you are going to gain; or the sum of investment that you are going to lose. Hence, you have to spend more time on researching for the best product by verifying the veracity of its claims; as well as ensuring that the software is using a well managed forex trading platform as one of its basis of analysis.
To further aid you in your selection process, one of the things that you should check is the number of gains it can make compared to the number of losses. If the robot has more losses than gains in its record then move on to another brand until you are able to find one that has more gains than losses.
There are quite a number of them in the market; just choose one among those with high accuracy rate. The brand with high precision in its recommendations are using well managed forex trading platform to get credible analysis; thereby generating more accurate projections.
Another essential feature that the brand should have is the ability to be programmed on autopilot mode. In other words, you can make the forex robot do the trading for you and still come out with gaining results. A lot of people were able to earn profits when they set the robot to autopilot trading mode from time to time; although some of the trades end up losing some of their investments, but most of the short term trades were gaining. In the end, they still end up on the winning edge.
At this point, you should already have an idea on how to choose the best well managed forex trading robot to assist you in your investment in the foreign currency exchange market.
Click Here To Buy ProForexRobot!
Visit http://www2.forexsoftwarereviewsnow.com/ for more informations and reviews.
Article Source: http://EzineArticles.com
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