Saturday, December 20, 2008

What's the Best Automated Forex Trading System - There is No Such Thing!

The more and more you look, the more you see people desperately trying to find the best automated fore trading system. I'll give you a clue where it is. It's definitely not online.

Think about what it is you are trying to find. You are trying to find something that basically says "go ahead and relax, I'll handle all your money!" Talk about your giant leaps of faith.

The truth is there is no automated system that could compare with what YOU have to offer. You have the ability to see the markets in a much more analytical sense, than any of these systems could.

Also, not to completely destroy these automated robots, but how many people have you actually seen or heard about making money with them? It's sort of like the holy grail. The phrase gets tossed around a lot, yet I don't know too many people that possess it.

Also, think of all the more successful & famous traders in the world. Do you really think that there are many of them, who would let a robot do the trading for them? I seriously don't think so.

Quite simply, the best automated forex trading system just couldn't handle all the intricacies of the market. To give you an example, think about breaking news that has just hit the market, whether it be financial, economical, or political, you know that its going to have some kind of effect on the market. Do you think that a trading robot is going to have any idea? Nope. To that piece of software, it's just another day.

If you get anything out of this article, it's this: Take time to understand the market. I know that may sound like the most obvious piece of advise you've ever heard, but you'd be quite surprised (or maybe you wouldn't) as to how many people just don't even try to.

Start today!

Take off all your indicators, and just do something as simple as watching the price action of a currency pair. You might not see something right away. But if you keep with it, you can't help but notice all the information that is being shown to you.

John Templeton has been a successful forex trader after learning how to trade price action Once he understood that all he needed to trade forex was on a plain chart with no indicators, his profits soared.

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