There are thousands of
robot reviews on the Internet. It can be hard to dig through them, and figure out which are honest and which are self-serving. Many people write fake reviews to try to get you to buy the robots.
Luckily, you don’t have to believe them. Just because they say something doesn’t mean it’s true. You’re simply going to use their review as a guide. You can verify their conclusions with only a little bit of work.
Here’s how you can do that…
Go to a
broker and open a demo account that allows
robots (expert advisors). There are many of them online, and you might want to try several until you find one you like.
You are going to be testing lots of robots, so you don’t want a broker that is difficult to deal with. Find one that you’re comfortable with.
After you’ve found a good broker, read through the reviews. When you find a robot you want to try, go to the sales page. Make sure that they offer a money-back guarantee.
Most of them offer at least an 8 weeks guarantee. This means that if the robot doesn’t work as advertised, you can get your money back.
After you buy the robot, set it up in your demo account and let it trade for you. You might want to invest in a virtual private server (VPS) so that you don’t have to leave your computer on 24 hours a day. This program runs on your broker’s computer and hosts the robot for you. That way you don’t have to install it on your home PC.
Let the robot trade for you for a few weeks, until you’re sure it’s…
Source by John Harper
You must be dreaming of becoming a Forex millionaire. Many new traders dream of becoming a Forex millionaire within one to two years but give up after a few months when they lose their hard earned money. The problem is most of them don’t have a trading plan. Well, if you sincerely follow the following trading plan, you can also become a Forex millionaire.
Becoming A Forex Millionaire Tip#1
First educate yourself about Forex trading. Most of the info is freely available online. Choose a Forex trading system that you think suits your personality and style. This Forex trading system should have a 60 days money back guarantee. This way, you can try that system and if it doesn’t work, you can get a refund. The right choice of your trading system is very important. You don’t need to rush. Read about the different Forex systems that are being sold in the market. Make a list of at least 3 best Forex systems. Make sure the Forex systems are easy to trade and don’t take more than 3-4 hours daily to trade.
Becoming A Forex Millionaire Tip#2
Test the best Forex system in your opinion on your demo account for one month. If you find the system difficult to trade, go for a refund. Choose the second Forex system in your list. After testing or two systems, you will find the system that works for you on the demo account and makes 100% return per month. Once, you have mastered the system on your demo account, it is time to trade live.
Becoming A Forex Millionaire Tip#3
Now, we are not going to…
Forex trading may seem a little complicated at first, but if you take the time to learn about leverage, interest rates, currency pairs, etc., it will soon become less intimidating. Trading on this market can be relatively simple by following visual signals on charts offered by the trading platforms or more in-depth by reading daily financial reports to base the trades. The type of Forex trading is based on personal preference, time you are willing to invest, and the amount in your account.
Let’s take a look at a few of the steps to learn more about Forex trading:
Start learning the basics
The very first step to learn about Forex trading is to start reading about the basics. There are plenty of online tutorials and guides to read, as well as trading forums. Reading a Forex glossary is a great way to learn and understand the industry specific words, such as cash price, leverage, dealing spread, fill, no touch, etc. In the early stages, it is practical to simply get familiar with the basics. Leave the actual trading until a solid understanding of Forex trading is acquired.
Sign up for a demo account
Many of the brokers give the first time trader an opportunity to open a demo account to get a real idea of how the market works. Once the demo account is open, it is possible to experiment with a variety of trading methods, learn the mechanics of trading, and try out a few real-time trades to see how the market flows. In general, it is worth staying with the demo account until a…
This is what makes
so seductive as a wealth-building avenue: unlimited possibilities .
The best traders and investment gurus would have you believe that the thrill of the event is all that matters. While that may be part of it, to me, making a boat load of loot looks like a great reason to get involved too.
Just saying …
With almost $ 4 trillion traded daily, the currency market is larger than all other investment markets combined. It's better protected against economic downturns too, which is handy.
Let's get cracking with the 5 tips for
Tip 1 : Go Get Yourself an Awesome Forex Robot.
A large number of the most successful traders have private robot software for
trading. Plain and simple. There's nothing like a robust and proven
robot to take care of your trading and multiply your profits. Obtaining one is the first step to attaining that 5 figure monthly profit you so desire.
The robot should be simple to use, proven to provide high returns, backed by strong support from the creators and have flexible controls that can be tweaked. Forex robots provide unmatchable speed, stealth and discipline, the core values of the perfect trader.
Tip 2 : Set Up a Demo Account.
A demo account or mini account with your
broker lets you trade without actual capital. You do not want to come this far and spend ages playing pretender trader. If you want to be a real
trader (and make real income), you need to set…
Source by Kenneth Sutherland
Online currency trading or the foreign exchange (FOREX) provides an incredible opportunity for the average person.
1) You can set up a demo account for trading that will provide you with real time trading information. The feeds are real and the movements are real, this allows you to learn and tweak your trading style.
2) A new trader can start with a few hundred dollars. One BIG thing to consider is the leverage the FOREX gives you. A $ 300 account will enable you to control $ 60,000.00 worth of currency. That alone should peak your interest.
3) Successful Forex traders live a life style most people only dream about.
The foreign exchange rates 3.2 trillion dollars a day, which is more than stocks and commodities, combined. In addition, stocks have some pitfalls that are not present with online currency trading, such as insider trading or executives that "cook" the books.
Education is the key and the great thing is most of it is free to learn.
There are a few things you can do to start, first Google "
" and you will see a lot of places that allow you to set up a free demo account. Next learn what technical analysis is and how to use it to your advantage.
In the event you need to ask some questions or have comments we are here to assist you. We are active traders, however, we are not brokers. So we will tell you our real opinion. Along with that you will have other traders placing their own experiences as well. So here is to learning
Source by Mike Denson
If you want to learn to trade
, you're far from alone. Each day hundreds and thousands of would be traders blindly throw their hats into the
ring with no more preparation than watching a few hours of financially aimed programming.
The best way to learn to trade
is to acquire a demo
account as there is no substitution for the real first hand experience. Through a demo account you can trade under the same conditions as real traders, but without having to risk a cent of your own money. Instead, you'll be trading with and keeping track of an amount of virtual money. This encourages you to make the learning mistakes which you would otherwise be unwilling to make had it been your real money that you were trading with. After a couple of months and number of successful trades under your belt, you'll be ready to transition into the real thing.
Beyond a demo account, there are steps you can take to lower the overall trading risk factor, as well as learn to trade
a great deal more efficiently and accurately. Forex systems or software has been developed in recent years to make the trader's job that much easier. Some of the more reputable models easily and more than adequately take the place of a broker, which in the past was unheard of altogether.
Forex software first auto trades on your behalf in times when you are not able to. You determine just how much independence that your program has over your account, many traders leave their auto…
Source by Max Branner
Forex trading is the field in which you buy one currency and sell another, field that is quickly becoming an attractive business opportunity. This market is one of the best places to invest your money if you know how.
So, can you really make money from
trading on a part-time basis?
In order to succeed, a beginner must learn that this takes discipline (it isn’t a piece of cake as some people would like you to believe). Please consider this. Below, you’ll find some tips that you should know before you even think about entering the
Start With a Demo Account
If you are a newbie to Forex Trading, a very good way to understand it is to start trading with demo accounts. A demo account does not require any capital, but it does train an investor in how to approach Forex trading (many brokers offer a demo account facility that will allow you to make some tests without risks).
Forex Trading Software
Forex Trading Software is the foundation of successful trading and there are lots of software packages to choose from (
tracer for example), and the main benefit of using these kind of tools is automation.
Using a trading software could save lots of money and it could also be an unfair advantage to any trader (newbie or experienced).
It’s very important to remark that you need to have a good basic knowledge of
trading before you can start, because
is a money game and any game requires that you learn to play it first.
Source by James Duarte
Automated foreign exchange software is increasingly becoming an essential tool for new and veteran forex traders. Such software monitors foreign exchange markets 24 hours a day then executes trades without human intervention. This supposedly makes forex trading totally scientific and rational without the so-called human factor which could result in disastrous trading decisions.
When deciding which automated forex trading software to use, experts advise that traders start with a demo account. This would allow them to test the software to check its performance. But making a profit using a demo account does not mean it would make a profit in the real market; it just indicates that the software has a high potential of generating profits.
Also, you should be aware that automated forex trading systems do not all work like, and have their own trading 'styles'. Some software works by 'scalping' which means it generates many small profits, or wins, to compensate for the occasional big losses. 'Breakout' systems, on the other hand, work the opposite way by making a few big wins to compensate for many small losses. Whichever style you choose depends on your personality as a trader. So by this point in your trading life, you should already be aware of what constitutes a winning trader's mindset and personality, and make your decision on what system to use accordingly.
The best way to determine which automated forex trading system to use is to ask other traders. …
Source by Kelvin Dee
A Forex Foreign Exchange Broker is really an important aspect of any want to be professional trader. If you have a demo account, you do not feel the real currency pressure of the foreign exchange market. Because of this you need something more real. Pressure is the scene of the currency exchange market. We need to understand that a demo account is not what we really need at Forex to know the market. It is easy and quick, but we must focus on the long term profits.
When you open a demo account using a Forex Foreign Exchange Broker you must know one thing. This is good if you are a beginner and you need to know the basics of the Forex trading. One of the most important advantages of having a Forex broker is that they can offer you a protected account. See them as the bridge between the full Forex account and the demo account to learn Forex. These are the key features: 1) if you lose, then the broker will covers it. We think this is the best part of the protected account. Also if you make any profits they are yours. Really good stuff. You can start with a small balance if you need to. You just need to trade a set leverage.
You can make money here if you know how to invest. With all the features we mentioned about, you have many advantages: you have low risk, if you make any profits you can keep them, and you will get a lot of practice. This account will give you a greater change to succeed in the foreign exchange market than the change you have with a…
If you are new to Forex, you will definitely need some hands-on experience to get a feel of the market to be able to make wise investments. If you are worried that you will have to experiment with your own money to learn about the market and become a successful investor, put your mind at ease. Nowadays, there are hundreds of websites that not only give you a free demo account (with some virtual money in it) but also give you a Forex robot along with it to help you learn how to automate your investments.
How a demo account works:
Some websites give you a demo account with some amount of virtual currency of your choice in it. While you are shown live market trends, Forex charts, news and commentary, and you will be at liberty to invest as you like. If you choose to automate your investments, you will have to specify the market criteria that you think will be best for your investments, or let the Expert Advisor program decide by itself. You can then sit back and watch your virtual investment grow or shrink. This will help you learn about the different market conditions that can arise.
Choosing your Forex software:
After you've created your demo account, you will be given a trial period (say, 90 days) along with the trading software. The software will be a trial version, and some features will be limited. However, what it has to offer will be quite sufficient for you to learn the routes and decided whether you like the software. It is recommended that you…