I find it remarkably funny that some traders would understate the importantly relevant live testing result of a forex trading software such as the Forex Megadroid. What is better than live testing result that is never at risk of being tampered and controlled? I cannot blame them, they may have partnered with a defective and not so useful forex trading robot in the past which gave them nothing else but tampered back test result, thus with using it on their accounts, they ended up losing whatever money they had on their live accounts. You have to be aware that there are more fraudulent forex trading robots in the market compared to the legitimate robots that you have to take careful thought in choosing to buy one.
It is a sad truth that there are some traders who are now skeptical about the legitimate robots’ live testing results due to being exposed to wrongly simulated testing results in order to attract more sales for a fraudulent forex trading robot in the market. Do not base your decision to buy from what the marketers or what other traders who are attesting to be firsthand users say about it, you have to be wise in doing your own product research and testing in order to get real worth for your money. With a lot of various factors to consider before buying an Expert Advisor, you have to be aware about the questions to ask from vendors, such as the relevant questions on a product’s weakness. These are the details that a marketer would refuse to tell you and if you think…
Source by Lewis D. Clyde
Forex Autopilot was developed by a team of professional Forex traders and programmers under the permission of Marcus B. Leary and his team. The Forex autopilot system is unique for the following reasons:
1. You can use the virtual private server (VPS) which can host your trading platform so you can turn off your computer while the robot is trading on the virtual private server’
2. The trading robot will do all the work for you to bring you good profits while you are asleep without much supervision.
3. Forex autopilot is a combination of two strategies; the short term scalping strategy and the long term advanced Forex autopilot strategy. These two strategies are built inside one expert adviser and can be switched on and off easily using the scalper strategy parameters in Forex autopilot setting.
A good trader needs a good trading system to be successful in the Forex business. The above attributes of an automated trading robot makes well for a good trading system. Most manual traders do fall into the temptation of over trading by opening more positions than they should, not knowing when they have exceeded their trading limit or goals. These attitudes make money management difficult for them. An automated trading system is a trading system that does good equity or money management on both small and big accounts. It can place micro or mini size lots when necessary and delivers good profit. The task of waiting long hours to analyze charts or news events by traders is taken off the…
Source by Joseph Ojogba
It’s really not that difficult to find the oldest trading strategy around. It’s as old as the market itself. It’s called price action. What’s really amazing is that not only is this strategy the oldest, but it’s also the best.
What’s even more amazing is that almost NOBODY is using it. How ridiculous is that? You’ve got traders spending an insane amount of money using one forex trading robot after another. I guess that nobody wants to work anymore. They would just be happier letting a robot trade for them.
So why should be using price action? To begin with, it’s the most surefire way to be able to tell where the trend is. You’ll also be able to learn how to properly spot where the support and resistance is on the price. You can use to spot where the future price may be headed.
Believe it or not, this is nothing new. Ever since the first day of the stock market, traders were using price action. But back then, they didn’t have live, real time charts. You have brokers who were just following price action on the market floor. There were legendary traders like Jesse Livermore who became rich in the late 1800s doing this.
Obviously a lot has changed since then, especially when you look at the forex market. While some of the changes have been good, others…..not so much. I think technology, while impressive, has made traders a little too lazy. Instead of having traders figure out the market for themselves, they are way too reliant on all the bells and whistles to tell them when to…
Source by John Templeton
As it is, new market volatility and constantly fluctuating prices in the Forex market are enough to confuse anyone, especially a novice. In addition, when you hear all this talk about planning and strategy, you begin to wonder what you should really be doing.
To help you on to this question, and to give you an insight into what the market pros do, we will take a close look at scalping as a possible trading strategy and tools available for implementation scalping involves locking on to small spreads every time they are favorable so that profit is accumulated in small increments over a period of time. In fact the best way to implement a scalping strategy is to use a Forex robot.
A Forex robot is a software tool that analyzes the markets and carries out automated trading on your behalf on autopilot, requiring little or no supervision. The advantages of using a robot in carrying out scalping are as follows:
– The creators of the robot brings years of experience to bear and a new generation is designed to cope with the realities of the marketplace
– the new generation robots used innovative new trading algorithms and programming to enable them to analyze market trends and capitalize on them. For instance, Forex megadroid uses artificial intelligence programming, combined with a proprietary algorithm to produce to 2-4 hour forecasts of price behavior with a remarkable degree of accuracy.
– The default setting on these robots are designed to minimize your risk while maximizing your…
Source by Mark S. Carter
Traders have been in debate to what the best Forex trading strategies are for years. That debate is likely to continue for many more years to come. What most people that are new to Forex trading want to know is what is the best and how can we identify it as the best. I want to first of all consider what a trading strategy is then look at two different types and asses them both.
A Forex trading strategy or system is simply a set of rules a trader will use to enter, exit and adjust his trade. The strategy may consider fundamental analysis, technical analysis or a bit of both. The answer to which is the best cannot be determined by simply looking at the results of a strategy but by looking at the trader as well. Psychology is the single biggest issue traders’ face when carrying out a winning or losing trade. The ability to be able to stick to your own rules during a losing or winning trade can be challenging. It is for this reason many traders will turn to automated trading systems to beat the psychological issues they are faced with. Auto trading using EA’s has its benefits but it is a proven fact that markets are in fact random which means a strategy working today may not work tomorrow.
What about a mixture of both?
You could be the best analyst in the world and still be a terrible trader! How many times have you taken a trade with all your analysis in your head then exited early or not taken the trade at all. A common scenario is not taking the planned trade because you…
Source by Adam Woods
Does automated currency trading really hold a bright future for Forex trading? Can this system of Forex trading offer better returns in comparison with manual trading? Many traders wonder if auto currency system will bring an end to physical or manual trading; and if it implies that they have to embark on developing their own trading system in order to trade automatically.
The most recent automated currency trading is that which is done with the aid of robots. These forms of auto FX trading are completely automatic; there is no human element or aid associated with this form of auto systems. The hope of the currency traders rose with the coming of automated currency trading systems in robot forms. Trading is made much easier using Forex robots; one, more accurate predictions are made leading to more profitable trades and secondly, you do not need to monitor trade closely as trade is completely executed automatically.
However, the trading platforms are still very much available for manual trading; in fact, you can even set some of them to be compliant with the use of robot, example of such trading platform is the MetaTrader 4. Automated system of trading Forex has not eliminated physical or manual trading and many traders still opt to trade physically. Yet, trading automatically with robots, offer more avenues for better profit earnings and convenient trading. Beside, trading is done 24/7 and the chances of losing any trade are so slight as a result of high…
Source by Harry T. Philips
As trading in Forex becomes more popular so the market develops, and the latest Forex trade copier software packages are now something of an essential tool rather than a mere gimmick. With many companies providing software packages it is essential that all the options are covered, and while some features are standard and can be found on all such software, others may be unique to a particular package. The key to an effective trade copier software package is, of course, automation, but there is much more besides that needs to be considered.
As a fast moving and volatile market the Forex world can be difficult to keep on top of, and the major benefit of an automated copier software package lies in its ability to respond very quickly; instant copying of trades to or from master accounts to slave accounts is the name of the game, and with easy to operate software and simple installation and set up routines traders or account managers can be on the ball in no time at all. Let’s have a closer look at what you should look for when considering trade copier software, and why you need it.
Choosing a Trade Copier Software Package
As the most popular trading platform all software will undoubtedly utilize MetaTrader 4, and any that do not should be avoided. It should be made sure, also, that the software runs on older versions of MT4, and that it comes with guarantees of upgrades to newer versions as they appear. This basic necessity aside, we shall move on to some more detailed…
Source by Rimantas Petrauskas
RSI is the Relative Strength Index. It measures momentum and price on a chart. Momentum is the key to trading. If there is no momentum, there is no trade. Momentum on the RSI creates 4 kinds of signals. They may be thought of as “signs” or “clues”. Each signal tells a story and the signals together can tell a story.
Traders who understand these signals are aware when the market is retracing or continuing with the existing trend. Knowing these things when you view a trading chart makes reading it and understanding it much simpler as well as knowing how and where to act on the information in front of you.
If you trade 4 major pairs and you trade the hourly chart you would need to manually check every hour to see if one of the 4 signals occurred. This only takes a few moments manually. However, there is an RSI that actually checks for you. It is called the RSI Paint Indicator.
The RSI Paint Indicator “paints” a new line each time a new price is formed; a positive divergence, negative divergence, positive reversal or negative reversal. These signals help the trader read two kinds of momentum on the trading chart. By understanding this momentum traders are able to make wise decisions about when to enter and when to exit the market.
The RSI Paint Indicator allows the trader do other things while the RSI Paint Indicator watches price on as many currency pairs as required and any time frame. When a new signal occurs the trader sees a small box on the screen with the currency pair, the…
Source by Paul W. Dean
MetaTrader 4 or MT4 is a robust Forex trading platform that offers several useful functionalities, such as advanced charting functions, technical analysis options and indicators. User-friendly and customizable, MT4 also boasts high precision and accuracy. It also allows back-testing, hedging, real-time data export and many other ways of trading. Beside, it also supports add-on Forex software such as "Expert Advisors", which enable round-the-clock automation of trading. MT4 also offers mobile trading systems for smartphones and price alerts and signals.
Benefits of MetaTrader 4 in the Forex Market
The perfect Forex trading system for experienced and novice traders, MT4 offers the following benefits:
- Technical indicators and charting: MT4 allows access to several high-quality technical indicators, such as Stochastics, Ichimoku clouds and Bollinger Bands. It also offers sophisticated, customizable and in-depth charting capabilities, direct trading from the charts and customization of analysis. These enable traders to analyze technical aspects of the market while they are still trading, thus enhancing their trading opportunities.
- Advanced trading execution: During real-time trading, MT4 functions like an advanced trading execution system with highly intuitive and user-friendly interface. This allows novice traders to trade comfortably in the complicated and volatile Forex market. The MT4 platform is also customizable; hence, traders can set their priorities…
Source by Rimantas Petrauskas
About this Review:
After roughly two months using the FAP Turbo, I considered important to share in this review not only details about the performance I have experienced so far, but also some technical information that might tell you a bit more about this forex software.
A look at the FAP Turbo Claims:
The creators of the FAP Turbo launched the product with a basic claim consisting of three different real money accounts that basically tripled their equity over a three month period.
They focused on showing live statements of these accounts, instead of throwing bold claims about people becoming instant millionaires with FAP Turbo. This approach makes this software stand out from the crowd, and was one of the reasons I had better expectations about the FAP Turbo when I first got it.
What is in the box?
* You will get the FAP Turbo which is small file that will work as an expert advisor in a Metatrader4 trading platform. Within this file you will find what some consider a refined version of the FAPS which trades only in EUR/USD and scalper that trades on several currency pairs.
* The FAP Turbo manual.
* Access to the FAP Turbo members forum.
* Monthly updates of the software, which are critical for you to have.
About the FAP Turbo creators:
Although I cannot 100% confirm this, the word is that Ulrich is an open source programmer, Mike is a some sort of complex number wizard, and Steve Carletti is the lead developer of the FAP Turbo, and some say that this software is based on the FAPS…
Source by Alex Cadens