Forex Trade – Intelligent Forex


Simple Forex Trading Strategy

Posted in Forex Trading Strategies by intelligentforex on January 7, 2010
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forex-strategyIf you are looking for a simple Forex trading strategy which works you will like the one enclosed which is the choice of the professional trader yet, very few new traders use it but don’t let that concern you to much most traders lose money. Let’s look at this powerful Forex trading strategy and show you how and why it works.

The aim of any Forex trading system is to get the odds on your side and trade high odds set ups and our strategy does just that, as it will get you in on all the biggest trends and profits. If you look at any Forex graph, you will see long term trends but do you know, how they all start and continue?

All the biggest bullish market trends, start by breaking out to new chart highs and as the trend evolves, the currency continue to break through to new market highs. Look at any currency pair you like and you will see this is true – so the way to trade with the odds on your side and get in on the best trends, is to trade high odds breakouts.

So why do most traders simply not do this?

The problem most traders have is they don’t understand that Forex markets cannot be predicted but they try and predict in advance where a currency may go and this leads to disaster. They want to get in at the low, so they try and buy into support. The problem with this method is – they are hoping the support level will hold and that is not a great way to make money in Forex! As the old traders saying goes:

“A bottom picker becomes a cotton picker” and these traders all end up wiping themselves out.

The smart trader doesn’t predict, he waits for confirmation via a breakout above resistance; he simply takes the trading signal on the break, as a new high is made and he is then in a trade with the odds on his side; if the breakout is a good one there will be triple digit profits ahead and that’s what all traders want to achieve! So what is the definition of a good breakout?

A good breakout is one, where resistance has been tested and held a few times in the past and held. You should look for a lot of tests and in time frames, that are at least a few weeks or longer apart. The more times the resistance level has been tested and the wider the tests are spaced apart in terms of time, the higher the odds are and of a trend developing in the direction of the break.

Once the level gives way, stops are triggered and fresh buying comes in which sees the currency move, with accelerated momentum away from the breakout point.

This strategy is simple, you can use just look at levels of resistance and add a few momentum indicators, if you wish to help time your trades better and you then have a simple Forex trading strategy which can make you huge gains. All the best strategies are simple and robust and breakout trading, is a very powerful method, anyone can use to seek long term Forex trading success.

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Forex Trading Robots – Are They Over Hyped?

Posted in Forex Trading Robots by intelligentforex on January 7, 2010
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forex robotAre Forex trading robots over hyped? In short the answer is no, but there are some things to take into consideration when looking at Forex trading systems and Forex trading robots. Any system you look at or plan to buy you of course want to make sure it’s been thoroughly back tested and forward tested. Not to mention you also want to make sure it’s sustained itself through both sideways markets and trending markets.

Each robot is based on a set of indicators or parameters and most of the robots are developed in the MetaTrader 4 platform. When conditions are met given the set of parameters a trade is triggered. No trading robot is the same as the next, each has its own set of rules, trading systems and methodologies, therefore some are actually better than others depending on the amount of research and testing that was initially done to valid their success.

You’ve probably seen or have been looking at various trading systems and many do this for various reasons. Either they don’t have the time to sit and trade due to work obligations, or would simply rather let an experienced trader develop a robot and just followed their signals. After all it makes sense doesn’t it? Granted there have been some very successful traders develop automated trading systems, it’s still important to grasp the basics of the Forex market before actually trading a live account. Granted there are some quality Forex robots that do produce consistent results. However, how these robots are used is another story.

Do the major banks use trading systems? Sure they do. Do the major banks use Forex robots? Is this how hedge fund managers and people are secretly making tons of money in the Forex market? The truth is Forex robots are used just as Forex systems are used. They are a tool or meant to guide, verify, or forecast possible trading entries based a set of rules and indicators.

Where people make money with Forex robots is when they apply their own analysis and education to their actual trades. To sit and rely on a Forex robot without even knowing what Forex is is insanity. However, to rely on a Forex robot and to understand why the robot is telling you to buy on the Euro at 1.4328 and to mentally agree with the robot because you understand why the market is moving upwards and you understand money management, then this is a powerful trading system period.

So how do you then know which Forex robot to use in your analysis and which one is going to bring you the most consistent results? To be quite honest you’ll need to test them. Forex robots usually perform very well; it’s the human behind the computer intervening, adjusting stops, over trading, over leveraging, or lacking the discipline to stay in a trade when the markets move against you that usually fail. Forex robots do work and should be used as a tool in your trading success. Be sure to do your due diligence as there are many out there.

Forex Tips For Beginners

Posted in Forex Tips by intelligentforex on January 7, 2010
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guideto forexIf you are new to Foreign Exchange Trading (Forex) it can be quite lonely and costly to be trading at home by yourself. Do not trade in a vacuum. As well as being tuned in to market news you also need to understand the psychology of people in the Forex industry. Through joining a Forex Club you can gain knowledge just listening to others – their wins and their losses. Hopefully it will point you in the right direction and certainly it should help you avoid the costly mistakes which every trader makes when starting out on their own.

There are many online articles on trading to assist your education in the markets. Essential reading before you take your losses. However no matter how much formal education or whatever you spend in acquiring books and videos the real education in Forex Trading comes when you enter the market. Time in the market is the best way of learning. Unfortunately many would be “gung ho” traders self destruct very quickly. They lose their entire trading capital and disappear in smoke.

To avoid becoming an early casualty it is prudent to take your introduction to Forex trading very slowly and cautiously. Preservation of trading capital if the number one objective you should have – not to make profits from day one. Start with a practice account, where there is no money at risk. Then when you can successfully increase the make believe capital in the practice account start trading a mini Forex account – where you can not lose too much money suddenly because the contract sizes are small.

When you become proficient trading a mini account then grade up to a standard account – as the small scale of mini accounts makes it hard to accumulate funds. A lot has been left out in these few lines about how to trade – that is what you must learn over time.

If your sole goal is to make money rather than gain an education first then please do not attempt to trade Forex yourself. The best way to approach trading if you do not want to spend the time and effort in learning everything there is in order to be a successful forex you should employ an automated Forex trading robot. Even then it is wise still to learn as much as you can about Forex trading and also learn about the various FX Robots.

Many professional traders use a number of Forex robots – as they recognize the power of trading robots to crunch numbers and process data – far faster than any human can. That is not to say that the decision making of trading robots surpasses that of talented human traders; it is just that humans can not match the speed of the robots. Which probably accounts for why the better robots are able to scalp extremely well and make profits when their human counterparts do not.

Best of luck if you are just starting out – stick around and enjoy the luxury lifestyle that success brings.

Bollinger Bands Can Give You a Huge Trading Edge Here’s Why

Posted in Forex Education by intelligentforex on January 7, 2010
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One of the critical pieces of forex education for any Forex trader is to understand the concept of standard deviation of price and how to use volatility to their advantage.

If you understand the concept you can easily apply it with Bollinger bands which are an essential tool for all forex traders.

Let’s look at why Bollinger Bands are so useful and profitable, when incorporated in your Forex Strategy.

If you don’t know what standard deviation is simply check our article on the concept – right, let’s take a look at Bollinger bands.

Bollinger Bands Defined

Bollinger bands are simply volatility bands drawn either side of a moving average.

You calculate Bollinger bands using the standard deviation of price over the same period as moving averages the mean price, then the volatility bands are plotted above and below the moving average.

Moving averages are used to identify the underlying trend of currencies and Bollinger bands take this one step further by:

Combining the moving average of the currency with the volatility of the individual market (or the standard deviation) – this then creates a trading envelope – with a middle mean price (moving average and 2 x bands (expanding or contracting) either side that reflect volatility or standard deviation.

As prices move away from the longer-term average, the standard deviation rises – and thus the bands will fluctuate in varying amounts, away from the average.

Why they work

In any market, the value of a currency traded tends to rise slowly over the longer term.

Prices can and do spike quickly in the short term, but will normally return to the longer term moving average – which represents fair value.

The standard deviation of the outer bands (how far they are from the mean) shows how far prices are from longer-term value.

Most price spikes are caused by trader psychology with greed and fear to the fore and this can be graphically seen with Bollinger bands.

So how should you use Bollinger bands?

There are 3 main ways to use them.

1. Spotting price spikes

When the bands are a long way from the mean you can use Bollinger bands as profit taking signal on existing trades or use them to spot contrary trades.

2. Enter exisiting trends

If you have a good trend in the forex markets then you can use dips to the middle band to buy at fair value.

3. Entering new trends

When prices are trading in tight range and start to breakout with a change in volatility a great new trend could be emerging.

Bollinger bands can certainly give you a new dimension to your forex trading strategy and any currency trading system can benefit from the extra insight that they can give you.

A word of warning

Like all technical indicators you should not use Bollinger bands in isolation to enter trades, however combined with timing indicators such as, the stochastic or RSI, then you have a powerful combination for greater FX profits.

With regard to forex education, knowing what standard deviation is and how to apply the concept through Bollinger Bands, will give you a huge trading edge, so make sure you use them.

Shocking Forex Broker Frauds!

Posted in Uncategorized by intelligentforex on January 7, 2010
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Forex broker fraudKnowing your broker intimately is very important for you as most of the time the broker might be trading against you without you ever realizing it. Forex is an over the counter unregulated market. This means that there is no central agency like that in the futures markets that can function as a clearing house.

What this means is that most of the time, forex brokers are free to quote currency rates of their own. Most of the retail forex brokers get rates from the interbank market and add 1-2 pips to the spread when quoting rates to their clients. Especially in times of high volatility, forex brokers can suddenly widen the spreads. The higher the spread, the more your trading cost.

All brokers tell their new clients that they charge no commission. This is portrayed as a plus point of forex trading as compared to stock trading where brokers usually charge commission per trader. What they don’t tell is that their commissions are hidden in the form of bid/ask spreads when they quote currency rates. You see the 2-5 bid/ask spread is your trading cost whereas it is the broker’s profits. Each time, you buy or sell a currency pair, you will pay this spread to the broker. The more you trade, the more the broker will make.

Brokers encourage their clients to trade more. There are many games that forex brokers use to make you trade more. A broker will invite you to take part in a trading competition with the announcement of something like $2000-$2500 as a prize for winning the competition. Most of the new traders lose 99% of the time. The more you lose, the more the broker makes. Now this has also got something to do with the nature of the retail forex market.

Retail forex market is different from the interbank market that is highly regulated. But as a retail trader, you don’t have access to the interbank market. Your only means to access that market is through the middleman in the form of your forex broker. Most of the retail trader have small account sizes. So when you open a trade, keeping in view the small size of the trade, the broker is forced to take an opposite position just to provide liquidity. This provides the forex broker to trade against you. Since, most of the new traders are inexperienced, they lose a lot. Your loss, your broker’s profit!

Add leverage to this. Your broker will entice you to use a high level of leverage by saying that it will increase your profits. You are new, you don’t know how to use leverage. You end up losing. The more you lose, the more your broker will make.

Your broker can easily turn your winning trade into a losing trade. Many traders keep on losing without knowing the fact that the broker is using sudden spikes in the price feed to periodically trigger your stop losses. This is also known as stop hunting. When a broker finds many stop orders close to a price level, they can generate a sudden spike or blip in the price feed to take out most of these stops. Most traders never find out that the spike was artificially generated by their broker.

If you have an independent price feed, you can compare the two price feeds. You will be astonished to find that there was a spike in the broker price feed whereas in the other price feed there was none. Forex brokers can play many games with their clients. They can make the excuse of slippage to suddenly widen the spread upto 10 pips when they quote rates to their clients. So before you start trading seriously with your hard earned money, know the shocking forex broker frauds!

Get Free Forex Education From Trading Legends!

Posted in Forex Education by intelligentforex on January 5, 2010
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Forex EducationIf you look online, you can find plenty of Forex education from some great traders and you can get it for free. Here we will look at some free info from great traders which can help lead you to currency trading success…

Let’s look at a few true market masters and see how they can help you become a better and more profitable trader.

Dow Theory – How and Why Markets Really Move

Dow Theory is essential education for anyone wanting to know how and why markets move. Charles

Henry Dow (1851-1902), was a founder and former editor of The Wall Street Journal and his theories were later refined by William Hamilton and Robert Rhea to give traders a theory that shows you how and why the markets really work and how you can profit from price trends.

Dow compared the movement of markets with the behaviour of the sea, the primary trend in the market corresponds with the direction of the tide, the secondary reactions within the primary trend are waves, and the movements within the trend are the ripples on the waves.

Dow knew that markets could not be predicted and they can’t, despite what many so called experts may tell you. The good news is you can see repetitive patterns which are a reflection of human psychology and they can be traded for profit.

Forget all the predictive theories such as Gann, Elliot and Fibonacci and study Dow theory; if you do you will understand how to win with technical analysis, how to catch trends and how to trade the odds.

Richard Donchian – The Grandfather of Modern Trend

If you haven’t heard of Richard Donchian you are missing out on great insight from a true market master!

Donchian’s 4 Week Rule is one of the best free Forex trading systems you can get and will beat all the heavily hyped Forex Robots you see sold online. If you use this system you can enjoy currency trading success, with a fully automated system which has made savvy traders, huge gains for over 25 years.

His general rules for trading and his rules for using technical analysis are also essential Forex education.

Richard Donchian didn’t begin trading his automated trading systems until the age of 65 and he then carried on into his 90s, showing you’re never too old to be trading! He was a true innovator in terms of technical analysis and the fact that his trading methods form the basis of so many trading methods still used today, shows the value of his work.

Theories the Pros Take Seriously and so should You!

The theories above are the ones other trading legends take seriously and include such great traders as, Vic Sperandeo, Richard Dennis and many more. If these great traders take them seriously so should you.

You can find more information about the above theories free online and you should study it and learn from it.

Forex Trading Tips

Posted in Forex Tips by intelligentforex on January 5, 2010
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Forex Trading TipsWhy do hundreds of thousands online traders and investors trade the forex market every day, and how do they make money doing it?

This two-part report clearly and simply details essential tips on how to avoid typical pitfalls and start making more money in your forex trading.

Trade pairs, not currencies – Like any relationship, you have to know both sides. Success or failure in forex trading depends upon being right about both currencies and how they impact one another, not just one.

Knowledge is Power – When starting out trading forex online, it is essential that you understand the basics of this market if you want to make the most of your investments.
The main forex influencer is global news and events. For example, say an ECB statement is released on European interest rates which typically will cause a flurry of activity. Most newcomers react violently to news like this and close their positions and subsequently miss out on some of the best trading opportunities by waiting until the market calms down. The potential in the forex market is in the volatility, not in its tranquility.
Unambitious trading – Many new traders will place very tight orders in order to take very small profits. This is not a sustainable approach because although you may be profitable in the short run (if you are lucky), you risk losing in the longer term as you have to recover the difference between the bid and the ask price before you can make any profit and this is much more difficult when you make small trades than when you make larger ones.

Over-cautious trading – Like the trader who tries to take small incremental profits all the time, the trader who places tight stop losses with a retail forex broker is doomed. As we stated above, you have to give your position a fair chance to demonstrate its ability to produce. If you don’t place reasonable stop losses that allow your trade to do so, you will always end up undercutting yourself and losing a small piece of your deposit with every trade.
IndependenceIf you are new to forex, you will either decide to trade your own money or to have a broker trade it for you. So far, so good. But your risk of losing increases exponentially if you either of these two things:
Interfere with what your broker is doing on your behalf (as his strategy might require a long gestation period);
Seek advice from too many sources – multiple input will only result in multiple losses. Take a position, ride with it and then analyse the outcome – by yourself, for yourself.

Tiny margins – Margin trading is one of the biggest advantages in trading forex as it allows you to trade amounts far larger than the total of your deposits. However, it can also be dangerous to novice traders as it can appeal to the greed factor that destroys many forex traders. The best guideline is to increase your leverage in line with your experience and success.

No strategy – The aim of making money is not a trading strategy. A strategy is your map for how you plan to make money. Your strategy details the approach you are going to take, which currencies you are going to trade and how you will manage your risk. Without a strategy, you may become one of the 90% of new traders that lose their money.
Trading Off-Peak Hours – Professional FX traders, option traders, and hedge funds posses a huge advantage over small retail traders during off-peak hours (between 2200 CET and 1000 CET) as they can hedge their positions and move them around when there is far small trade volume is going through (meaning their risk is smaller). The best advice for trading during off peak hours is simple – don’t.
The only way is up/down – When the market is on its way up, the market is on its way up. When the market is going down, the market is going down. That’s it. There are many systems which analyse past trends, but none that can accurately predict the future. But if you acknowledge to yourself that all that is happening at any time is that the market is simply moving, you’ll be amazed at how hard it is to blame anyone else.

Trade on the news – Most of the really big market moves occur around news time. Trading volume is high and the moves are significant; this means there is no better time to trade than when news is released. This is when the big players adjust their positions and prices change resulting in a serious currency flow.
Exiting Trades – If you place a trade and it’s not working out for you, get out. Don’t compound your mistake by staying in and hoping for a reversal. If you’re in a winning trade, don’t talk yourself out of the position because you’re bored or want to relieve stress; stress is a natural part of trading; get used to it.
Don’t trade too short-term – If you are aiming to make less than 20 points profit, don’t undertake the trade. The spread you are trading on will make the odds against you far too high.
Don’t be smart – The most successful traders I know keep their trading simple. They don’t analyse all day or research historical trends and track web logs and their results are excellent.
Tops and Bottoms – There are no real “bargains” in trading foreign exchange. Trade in the direction the price is going in and you’re results will be almost guaranteed to improve.
Ignoring the technicals- Understanding whether the market is over-extended long or short is a key indicator of price action. Spikes occur in the market when it is moving all one way.
Emotional Trading – Without that all-important strategy, you’re trades essentially are thoughts only and thoughts are emotions and a very poor foundation for trading. When most of us are upset and emotional, we don’t tend to make the wisest decisions. Don’t let your emotions sway you.
Confidence – Confidence comes from successful trading. If you lose money early in your trading career it’s very difficult to regain it; the trick is not to go off half-cocked; learn the business before you trade. Remember, knowledge is power.

    The second and final part of this report clearly and simply details more essential tips on how to avoid the pitfalls and start making more money in your forex trading.

    1. Take it like a man – If you decide to ride a loss, you are simply displaying stupidity and cowardice. It takes guts to accept your loss and wait for tomorrow to try again. Sticking to a bad position ruins lots of traders – permanently. Try to remember that the market often behaves illogically, so don’t get commit to any one trade; it’s just a trade. One good trade will not make you a trading success; it’s ongoing regular performance over months and years that makes a good trader.
    2. Focus – Fantasising about possible profits and then “spending” them before you have realised them is no good. Focus on your current position(s) and place reasonable stop losses at the time you do the trade. Then sit back and enjoy the ride – you have no real control from now on, the market will do what it wants to do.
    3. Don’t trust demos – Demo trading often causes new traders to learn bad habits. These bad habits, which can be very dangerous in the long run, come about because you are playing with virtual money. Once you know how your broker’s system works, start trading small amounts and only take the risk you can afford to win or lose.
    4. Stick to the strategy – When you make money on a well thought-out strategic trade, don’t go and lose half of it next time on a fancy; stick to your strategy and invest profits on the next trade that matches your long-term goals.
    5. Trade today – Most successful day traders are highly focused on what’s happening in the short-term, not what may happen over the next month. If you’re trading with 40 to 60-point stops focus on what’s happening today as the market will probably move too quickly to consider the long-term future. However, the long-term trends are not unimportant; they will not always help you though if you’re trading intraday.
    6. The clues are in the details – The bottom line on your account balance doesn’t tell the whole story. Consider individual trade details; analyse your losses and the telling losing streaks. Generally, traders that make money without suffering significant daily losses have the best chance of sustaining positive performance in the long term.
    7. Simulated Results – Be very careful and wary about infamous “black box” systems. These so-called trading signal systems do not often explain exactly how the trade signals they generate are produced. Typically, these systems only show their track record of extraordinary results – historical results. Successfully predicting future trade scenarios is altogether more complex. The high-speed algorithmic capabilities of these systems provide significant retrospective trading systems, not ones which will help you trade effectively in the future.
    8. Get to know one cross at a time – Each currency pair is unique, and has a unique way of moving in the marketplace. The forces which cause the pair to move up and down are individual to each cross, so study them and learn from your experience and apply your learning to one cross at a time.
    9. Risk Reward – If you put a 20 point stop and a 50 point profit your chances of winning are probably about 1-3 against you. In fact, given the spread you’re trading on, it’s more likely to be 1-4. Play the odds the market gives you.
    10. Trading for Wrong Reasons – Don’t trade if you are bored, unsure or reacting on a whim. The reason that you are bored in the first place is probably because there is no trade to make in the first place. If you are unsure, it’s probably because you can’t see the trade to make, so don’t make one.
    11. Zen Trading- Even when you have taken a position in the markets, you should try and think as you would if you hadn’t taken one. This level of detachment is essential if you want to retain your clarity of mind and avoid succumbing to emotional impulses and therefore increasing the likelihood of incurring losses. To achieve this, you need to cultivate a calm and relaxed outlook. Trade in brief periods of no more than a few hours at a time and accept that once the trade has been made, it’s out of your hands.
    12. Determination – Once you have decided to place a trade, stick to it and let it run its course. This means that if your stop loss is close to being triggered, let it trigger. If you move your stop midway through a trade’s life, you are more than likely to suffer worse moves against you. Your determination must be show itself when you acknowledge that you got it wrong, so get out.
    13. Short-term Moving Average Crossovers – This is one of the most dangerous trade scenarios for non professional traders. When the short-term moving average crosses the longer-term moving average it only means that the average price in the short run is equal to the average price in the longer run. This is neither a bullish nor bearish indication, so don’t fall into the trap of believing it is one.
    14. Stochastic – Another dangerous scenario. When it first signals an exhausted condition that’s when the big spike in the “exhausted” currency cross tends to occur. My advice is to buy on the first sign of an overbought cross and then sell on the first sign of an oversold one. This approach means that you’ll be with the trend and have successfully identified a positive move that still has some way to go. So if percentage K and percentage D are both crossing 80, then buy! (This is the same on sell side, where you sell at 20).
    15. One cross is all that counts – EURUSD seems to be trading higher, so you buy GBPUSD because it appears not to have moved yet. This is dangerous. Focus on one cross at a time – if EURUSD looks good to you, then just buy EURUSD.
    16. Wrong Broker – A lot of FOREX brokers are in business only to make money from yours. Read forums, blogs and chats around the net to get an unbiased opinion before you choose your broker.
    17. Too bullish – Trading statistics show that 90% of most traders will fail at some point. Being too bullish about your trading aptitude can be fatal to your long-term success. You can always learn more about trading the markets, even if you are currently successful in your trades. Stay modest, and keep your eyes open for new ideas and bad habits you might be falling in to.
    18. Interpret forex news yourself – Learn to read the source documents of forex news and events – don’t rely on the interpretations of news media or others.

    How Do You Find a Good Forex Broker?

    Posted in Forex Brokers by intelligentforex on January 5, 2010
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    Trading Forex profitably is not easy and one major factor in this is the quality of the Forex broker that a trader uses.

    Unfortunately, the FX marketplace in not regulated and Forex brokers actually act as market makers. That means that brokerages are actually pretty much free to act as they like. This results in some firms manipulating the trading market against their customers, to their own favor.

    It is vital to be able to recognize these companies and avoid them at all costs. The two major areas in which a brokerage can affect a trader, is with slippage and the currency spread.

    Slippage is when a trader tries to enter or exit a trade at a specific price. A broker may adjust the price that the trader can actually get, leaving them in a less advantageous position.

    The spread is the difference between the bid and the ask price, or basically what a currency can be bought or sold for, at any given time.

    Brokers can set this price. Traders need to look for a firm that offers competitive spreads and also more important one that does not vary them wildly, especially during periods of high volatility in the markets.

    This can have the effect of stopping out, or triggering buy orders for certain positions artificially, as a broker increases their spreads to cover their positions and protect their own assets.

    Finding a broker that will act fairly and ethically is absolutely vital for ordinary traders to have the opportunity to trade successfully and profitably.

    Automatic Forex Trading – The Truth Behind it

    Posted in Forex Trading Robots by intelligentforex on January 5, 2010
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    automated forex tradingThe growing popularity of online Forex market is really quite amusing. It has proven itself as one of the most exceptional method to gain income. The root of its fame is because its deals with money, the most liquid asset in the financial world. The blooming market of Foreign Exchange is the reason why many platforms and services are now being offered online. It is really a competitive world and so many facilities are coming out claiming to make your Forex trading experience effortless.

    One of the most advance program designed to help in the complicated field of this market is the Forex robot. There are indeed a lot of advantages offered by this trading platform. First and foremost a Forex robot is specially built to do automatic Forex trading. It is an exceptional tool which can evaluate trading moves and allows twenty-four hours trading time even without the owner presence. It is designed especially for persons who wish to start a Forex career but lacks time and has insufficient knowledge.

    Another reason why it is necessary to avail the software is because it can safely perform a trade with a high success rate. With the use of an effective Forex robot a small capital can be recovered in just a few days. Moreover, the robot is not affected by human emotions that tend to alter and affect decision making. The Forex software based its judgment from data alone. In addition, an automatic Forex trading can track opportunities, make updates and record all information within the trading area without having human errors.

    However, it is a must that before you purchase a platform you can distinguish the real one from a hoax. There are so many software being offered in market asserting that they are legitimate but finding one that is guaranteed working is really hard. Although the system allows you to make hassle-free trading, information about the platform is still important. Choosing one that does not suit your working style will only be worthless and is a waste of money. A smart move is to purchase exclusively from a reliable seller and always review user comments about the platform before deciding. It is also a must that the Forex robot should come with technical support for security purposes.

    Using automatic Forex trading software has its pros and cons. Just remember that the software will only be effective when properly used and selected.

    I think you begin to realize, as I did, not all automated Forex trading software are created equal, therefore, it is important to know whether the automated Forex trading software have a live trading account with a profitable history and a money back guarantee to back its claim.

    Forex Trading Strategies – Your Tool to Success

    Posted in Forex Trading Strategies by intelligentforex on January 5, 2010
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    forex_strategyForeign exchange is truly a competitive world. To be  successful in this field is to be armed with tried and tested Forex trading strategies. Even though so many Forex system claims that their program will make anyone millionaire overnight, it is better to learn your way and find one that is really working.

    Before entering the Forex market, it is advisable to create a list of Forex tactics that are based on facts and proven by research. Do not be tempted by Forex systems that make promises of huge earnings within a small period of time. It might be intriguing to try this kind of software but being careless will only make you suffer.

    Engaging in the Forex market is a learning process. Failures will always be a part of this world but with the correct Forex trading strategies failures will be lessen. No system can promise you a hundred percent failure-free path but the more information you gather, the more chance you will achieve success in a period of time. Although Forex software is created to make your trading experience pleasurable, it will still be useless if wrongly applied. Thus, developing a Forex trading plan is really a must. Here are some factors you might want to consider in creating your own Forex strategies.

    The forex market is an ever changing world therefore it is also a fact that there will never be a perfect and permanent plan. Forex methods should always be evolved and adjustments are needed to be able to adapt to the constant changing market.

    Set your goals. Determine the amount you are willing to invest and if you are going to be a buyer or seller. Better to be decided before doing business. Know your limits. Establishing limitations is a smart move in any business. If you know how to enter in the Forex world, also learn how to exit. Evaluate situations if you should continue or stop trading.

    In any business, patience is considered a virtue. Note that Forex market is a lengthy operation. Work hard in order to gain success. Finally, gather knowledge as much as you can. There are so many free sources of information such as forums, books and online web sites that anyone can avail. Bear in mind that the Forex trading strategies you apply in this market will determine your success or failure. Do everything you can to have leverage.