Thursday, January 1, 2009

How a Complete Novice Start Making Money Trading Forex

The easy answer is Forex Automated Trading Systems. Trading Forex has always been seen as a very complex way to earn money. As a Forex Trader I know that 100 people with the same system have never earned the same profits. Numerous books have been written about what defines a successful Trader and they always say the same thing.

You must:

1. Have a reliable system.

2. Have the Patience to wait for the right signals according to the system and not force a trade.

3. Have confidence in your system and not keep changing the rules.

4. Be consistent.

5. Know you will have losing trades, therefore you have a good money management plan which you stick to.

6. Have an Entry and Exit level planned before you make the trade and not try to extend your profit and end up losing, or letting your losing trade run too long hoping it will turn around.

Well this is where it gets interesting; the world of Forex Automated Trading Systems has arrived and is giving the Trader less involvement. Now all the personal weaknesses that destroyed your capital in the past can be eliminated. Why? Because the Robot just gets on with it. They don't panic, they don't deviate from the system, and they don't get greedy they just keep on trading 24 hours according to their predetermined formula.

Obviously getting a robot that will consistently have winning trades is not easy. The first generation robots usually were based only on back trading and unfortunately this did not ensure success in the future. However the new generation robots are far more sophisticated and we are beginning to see more success. Recently we have seen three new robots entering the market all claiming to be highly profitable.

They also claim that people who know nothing about the forex market can simply download them and start trading with incredible accuracy.

We have completed a review on three of the robots so please go to our website to get the full story.

article source : http://ezinearticles.com/?How-a-Complete-Novice-Start-Making-Money-Trading-Forex&id=1770127

1 comments:

Blogger said...

eToro is the best forex trading platform for new and professional traders.

 
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