Here’s the truth: If you want to become a successful forex trader, you must…
1) Always stay humble – Realize that at any given moment, you have the capacity to do serious and permanent damage to your forex account. In the blink of an eye, you can and will have your account wiped out if you are an undisciplined trader.
2) Limit your risk – Proper money management is the key to the long term survival of your account. Only risk a tiny percent of your account on any given trade( I usually risk 1-2% on any one trade). I recommend stop losses at all times.
3) Never be greedy – Always take small gains and small losses. With discipline and training, you can easily learn to be profitable with a 50/50, or even lower, win/ loss ratio.
4) Invest in your forex education – Learn to be a good technical trader. Study pivot points, support, resistance, and trend lines. Through my own forex training, I’ve learned that all of the “get rich quick” systems and strategies will work one day, and not the next. Some are designed for trending markets while others work when the currencies are trading in a range. I’ve seen many accounts blown up from using a system that was touted as the ‘latest and greatest’.
There are quite a few forex training courses on the market. I’ve studied and reviewed many of them. As a matter of fact, I just finished studying a course called “Forex Commander” , which cost me $2000. There was a lot of great information in that course, but I still felt $2,000 was a little pricey.
May 5th, 2010 at 6:49 pm
Sure it’s not working. Who in a right mind would sell products like Forex Tracer. He or she will make money for themselves. I try in my demo, for about a month, my balance was -1017 pips. To make money in forex, you have to learn to trade on your own. Period! You might want to subscribe to some forex alert service, for your companion, but you have to trade on your own. Nice place to start 4xgenie.com
References :
http://www.4xgenie.com
May 5th, 2010 at 7:36 pm
They do work but they aren’t the "magic bullet" they are sold as.
These are called "Expert Advisor" scripts and work by plugging into MetaTrader 4. When you get the data from MT4, the script will then look through it and tell you where any profitable trades are.
I use a script called "Forex Autopilot" which is great for finding nice profitable trades (I recently made 1,500 pips in one trade with it) but it doesn’t really operate on "autopilot" as such.
As for Forex Tracer – it’s really just the same as Forex Autopilot… an Expert Advisor script dressed as a "forex robot". If you want to learn more about it, then I’d suggest you take a look at the free guide on http://www.fxsystemscompared.com – just type your name and email to download it.
If you’re interested in reading reviews about Forex Tracer & Forex Autopilot, then you can also see that site’s reviews at:
http://fxsystemscompared.com/forex_systems_reviews.html
Hope this helps?
References :
May 5th, 2010 at 8:06 pm
i am trying now forex raptor.
will upload it to my site, if you want to try.
References :
http://www.tjgroupforex.com
May 5th, 2010 at 8:30 pm
Hi,
Here’s the truth: If you want to become a successful forex trader, you must…
1) Always stay humble – Realize that at any given moment, you have the capacity to do serious and permanent damage to your forex account. In the blink of an eye, you can and will have your account wiped out if you are an undisciplined trader.
2) Limit your risk – Proper money management is the key to the long term survival of your account. Only risk a tiny percent of your account on any given trade( I usually risk 1-2% on any one trade). I recommend stop losses at all times.
3) Never be greedy – Always take small gains and small losses. With discipline and training, you can easily learn to be profitable with a 50/50, or even lower, win/ loss ratio.
4) Invest in your forex education – Learn to be a good technical trader. Study pivot points, support, resistance, and trend lines. Through my own forex training, I’ve learned that all of the "get rich quick" systems and strategies will work one day, and not the next. Some are designed for trending markets while others work when the currencies are trading in a range. I’ve seen many accounts blown up from using a system that was touted as the ‘latest and greatest’.
There are quite a few forex training courses on the market. I’ve studied and reviewed many of them. As a matter of fact, I just finished studying a course called "Forex Commander" , which cost me $2000. There was a lot of great information in that course, but I still felt $2,000 was a little pricey.
I’ve reviewed a couple of my favorite forex training courses at my site listed below. I also talk about how I lost $10,000 one time in less than 24 hours. It was a learning experience for sure.
Hope this information helps,
Dennis
References :
http://www.myforexreview.com
May 5th, 2010 at 9:05 pm
I have compared 3 different Forex trading systems including Forex Tracer. It does what it needs to, but in my opinion there are others that are easier to use. I was able to grow a $500 investment to $900 within 1 week, however this was less than I made with the other 2 systems.
References :
http://www.earnwithforex.info
May 5th, 2010 at 9:33 pm
go to http://www.mexbank.com and let them do it for you.
D
References :
May 5th, 2010 at 10:06 pm
Forex tracer is popular, as well as forex autopilot and forex killer.
I would advise you to do some research, http://bestforexsoftwareonline.com/
tells you all about forex trading and advises on what software to use. There are many different products out there, just make sure you find what is right for YOU.
References :